Whether you win or lose while trading in Binary option is a totally different matter. But there are many robots in the market that are designed solely to make the traders fall into a trap and lose the money to the brokers. These software are intelligently designed to make money and to carry out a fraud scam to earn some scam money. To recognize whether the robot is a Scam or not? Here are some points to look out for:
Poor Website Design: Websites that don’t have an interactive design or which lacks the necessary information to guide the traders towards them is a big red flag for the traders. Scammers don’t believe in delivering valuable information to all their clients so they don’t spend much time as well as money in designing a proper website with well-designed web pages.
No or Less Information about Robots Features: No information on features that means either the robot has poor features or the features are designed to steal money from the traders. Thus, rely only on the one which provides deep and detailed information on features of the robots.
No mentions of Previous Trading History: Scam Robots always hide the details of the Trading history as they are made to make the traders loss. It is obvious genuine Robots would flaunt on the past successful trades or give losses as warnings. Thus, beware of such robots that don’t show trading history.
The Software is Compatible with Unregulated Broker Sites: The software should be such that it must be trusted by most of the brokers such as IQ Options or 24 Options and other such famous brokers and if those brokers don’t trust on such robots, then traders must also avoid such robots. Such robots are only supported by unregulated brokers and they reveal some exaggerated results or promises to the traders.
Contact Information or Customer Support Information is Missing: It is obvious that fraud websites won’t be interested in helping the customers as well as are not interested in revealing their identity to the Traders as they wish to carry out a Scam and take illegal money from the Traders. After that, the traders won’t have any lead or contact detail to complain about their losses or any other way to report the robot.
The Robot is in the Market for a Short Period: Well, it is not mandatory that all the new robots or the robots that are in the market for a short term are fraud robots, but if with the above mentioned red flags are also there along with this, it is advisable not to choose such robots. Also, there are some robots who charge for using their services and are new to the market, those also should be avoided. Because these are virtual entities and can be closed at will. Once closed it will be really tough to catch them. Thus, chooses an old as well as free to use Robot.
Less Trading Assets Available: Well, it is said rightly said that more options the better. If the software only deals with the only couple of trading assets, it is not advisable to use the software. With more options, you will get better options as well as will be able to compare between the assets. There is some fraud software which deals with no assets at all. Thus, try to choose the one with maximum Trading Assets on board.
Above were the Red Flags or the signals that you can keep in mind while choosing a software for the binary options trading. So make sure you check all the above-mentioned factors before investing and make an investment that is profitable. Hope the information was useful to you, I wish all the Traders Happy Trading!