Spotting a binary options robot scam
As tempting as it might sound the idea of opening an account with a binary options robot, as with all things that sound too good to be true, they probably are. Even though robots are known for the advantages they bring on the table, especially to new traders, you will have to spend some time finding out what are the legit binary options robots and detecting any possible signs of a scam. To this extent, one of the most important signals that you might be dealing with a scam is an unrealistic profitability. You get an email saying that this and that person are making millions using that particular robot and you can make as well if you only pay a small amount of money for an account. Be realistic. Nobody making that kind of money would ever disclose their success or would they be willing to spend their time on this type of advertisement, so you are probably about to become the victim of a scam. When you read a professional Banc de Binary review or a review of any other trustworthy broker, see what robots they work with in order to make an idea about the legit ones that are out there.
Another sign that you might be dealing with a binary scam is unrealistic winning ratio promises. In this type of financial trader, the most important thing is to win more than you lose. Anything else that seems extraordinary probably does not have a realistic base. If a robot promises you winning rates of over 90%, you should look for something different because it is probably a scam. No matter how well a robot might interpret the signals, it cannot factor in the social aspects of the market and therefore it is susceptible to making mistakes. You know you have a profitable trading system if it offers you a winning rate of over 50%. Do not go greedy and choose the highest winning rate that you can possible find, because it is just not possible.
Last but not least, another possible sign of a scam are the unrealistic time frames in which you can make money. Anything that promises to help you make a fortune in 1 day is just not realistic. Take into consideration that any market is built on the principle that there are both winners and losers, otherwise it could not survive, so it is important to manage your expectations and realize that you are bound to lose some of your investments at one point or another. However, as long as you have a reliable robot on your side and a profitable rate, you should be able to obtain a satisfying profit, without making the millions some robots promise in just one day! When you take into account all these facts you will be able to discover a reliable robot that will help you make a profit. The key factor is to take your time and study the market very well to be absolutely certain of your decision. On websites such as Is-scam.com, you can find reviews of various binary options brokers and robots and have an easier time making a decision.