Scam Trading Brokers
Scam Option is the best place for investors and day traders to research binary options and Forex brokers, and read honest reviews of automated trading robots. Investors in Forex and Binary Options, both new and experienced, will find updated and accurate reviews of the best brokers for trading online.
The Best Binary Options Brokers
If you want to know which broker is currently the best and most popular, then visit the updated list of Best Binary Options Brokers.
It is a known fact that there are more than 200 binary option brokers to choose from, and only a handful of them are actually legitimate licensed financial institutions. The risk of opening a trading account with a scam broker is very high.
Depending on which country you live in determines which broker is the best one for you. When we compare binary option brokers, one of the ways to determine the legitimacy of a broker, is their regulatory status. Meaning, does the broker have a license to offer trading in binary options.
The purpose of a robot, or automated trading software, is to assist traders in making profits when trading binary options.
There are hundreds of auto trading apps and robots. Many of them are the same scam robot, just with a different name. To properly compare a trading signals service or trading robot, a trader must first be able to test out the service. Many signal services force you to deposit money into your trading account before letting you see the software and signals.
See an updated list of the most popular Binary Option Robots
Compare Binary Option Brokers
When you are comparing binary options brokers, here are the important things to check for;
- Does the broker have a license?
- Is there an automatic signup bonus?
- Is the trading platform user friendly?
- Do they offer high returns on the binary options you will be trading?
- Is customer service friendly or pushy?
Many traders make the mistake of opening an account with a broker that was recommended to them by an infomercial type advertisement they saw. There are untrustworthy brokers that use clever marketing gimmicks and free automatic trading robot software to lure in unsuspecting clients. Make sure you do your proper homework and read reviews of multiple binary options brokers.
Brokers Trading Software
There are currently 10 different trading platforms that binary options brokers use. This is different than Forex Dealers who give their traders the MetaTrader5 trading platform to use. With binary option brokers, all brokers use a web based trading platform. The handful of brokers that offer their own custom trading platform, have more flexibility when it comes to introducing new assets for trading.
Either the trading platform is developed by the broker, or the broker uses a “white label” software from a company like SpotOption, Scipio, Panda, Tech Financials, AirSoft, TradeSmarter, Tradologic or Markets Pulse.
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