Binary Options Scams – How To Recognize And Avoid Them

Binary Options Scams – Protect Yourself

Unfortunately, binary options scams do in fact exist. There are brokers who have opened up, recruited clients for awhile, and then run off with those clients money. However, this is not the most common form of binary options scam. Binary options are not themselves a “scam” though. What is far too common, however, is individual binary options scams, usually run by dishonest broker affiliates. We have an especial distaste for this particular brand of human scum. And we would like to prevent as many people as possible from falling prey to these often admittedly quite clever schemes.

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Recent Binary Options Scams

We have written about two of these scams very recently: “profit in 60-seconds” and “get rich in seconds”, but unfortunately there are too many of these things out there to write and warn people about each one individually. Luckily, almost all of these scams operate in a very similar manner, because the scammers have found that it’s what works best. But their strength is also their weakness. Because most work basically the same we can learn to easily spot them and protect ourselves just by learning a few things to look out for. And that is exactly what we are going to teach you how to do in this article, using the newest one of these binary system scams, the “Binary Matrix Pro” scam system as our example. We would also recommend a look at the previously written article linked to above for further examples.

Binary Options Scams – How They Work

As we mentioned in the opening of this article, most binary options scams are a result of dishonest affiliate relationships with brokers. The brokers are not involved or aware, and have no real blame here beyond maybe not policing their affiliates well enough, a difficult task. Remembering this relationship though is key to spotting these scams in whatever form they may take. Using our Binary Matrix Pro review for our example, let’s look at what they have to say about getting access to their wonderful, free money generator product:

“Begin with by opening an account at our binary dealing options brokers and deposit $200 in your acc. “

I Thought It Was Free?

What happened to free? Well, it turns out there just isn’t such thing as free money, or free money generators for that matter. Almost all of these scams operate in the same way. Like this Binary Matrix Pro scam, they tempt you with amazing promises, which you can have all for free, but then once you’re hooked on the idea you discover that you must deposit $200 or more with a “preferred broker” or “trusted broker”. These are all just different ways of saying business partner. A business partner who then turns around and pays the scam operator $200+ for sending them a client. Quite the opposite of what they want you to believe, you essentially paid $200+ to the scammer for his product before you ever even see it. That is how the Binary Matrix Pro scam works, and how 90% of the binary options scams out there work.

How To Spot Binary Options Scams Anywhere

  1. System/Software Promising Easy Large Returns…
  2. …Get Access For “Free” Or With “Free Trial”…
  3. …But Only If You Open New Acct. + Deposit $200 With Their “Approved” Broker or Brokers

Those three things are really the giveaway for binary options scams everywhere. Other details can differ somewhat. Even drastically in some cases. But the three points above will almost always be present if it’s a scam. Now, just because one of those things may not be present doesn’t necessarily mean that is isn’t a scam. It still could be. But if ALL of these things are present then you can be 100% sure it IS a scam. That old saying about if it sounds to good to be true seems to apply fairly well with these things too. Almost all that we’ve spotted make some pretty wild and outrageous claims of easy riches. We hope that this post can save at least some people the frustration that comes from getting ripped off. It’s a feeling we’ve all had before, and it isn’t a pleasant one. Stay safe out there!

Profit In 60 Seconds Review – Worthwhile or Worthless?

Profit In 60 Seconds Review

risk-free money claim debunked by the bossesWe aren’t fans of the “get rich quick” mentality here so we are always skeptical of products like this. However, it has gotten a fair amount of attention so we wanted to check it out for this Profit in 60-Seconds review. It did not take long to discover that Profit in 60-Seconds was even worse than your typical “get rich quick” scheme. And those are bad enough. But it gets much worse than that. We had a feeling even before really trying this out that it was probably a scam system of some variety. But we were receiving so many questions about it that doing a full profit in 60-seconds review seemed best. And exposing scams is just as or more important than highlighting the “Good Guys” we find out there. Few and far between for US-Based traders these days…

(Important Update 13/06/2016: There are actually a bunch of these scam products/systems launching lately that operate along almost the exact same lines as this one. One of the more visible ones is called the “Get Rich In Seconds” system. But they are all basically the same scam service/product discussed here, and operate the same–or very similar–at their core. We tell you how you can protect yourself and spot these “Bad Apples” anywhere in our older article: “Binary Options Scams – How To Protect Yourself” )

Read The Full Profit in 60-Seconds Review…

profit in 60 seconds review website screenshot

Let’s start with the sales page itself at www.profitin60seconds.com (which we will not link to). Essentially nothing on this page is truthful or accurate. Nothing. Nobody has ever voted it #1 anything. Nor has any neutral party ever “verified” the accuracy or profitability of the system like it claims. In fact it is quite the opposite. Those that have used this system and “verified” its “profitability” have consistently reported that it results in losses, not profits.

The next outrageous and inaccurate claim which they make is that you can either purchase the system for $997 (yeah right, no thanks), or get a one-month “free” trial. This is a flat-out lie. It turns out that even if you want to purchase the system without going through the trial, you can’t! That’s right, it is not even legitimately for sale. It isn’t even setup and capable of accepting payments. The “free” trial is in reality your only option. Not that you would want to pay a grand for this junk anyway.

But It’s a “Free Trial” So Why Not?

Now that we know that you can’t even buy the system if you wanted to, what is the point of giving away a one-month “free” trial? If you can’t purchase it at the end of the trial how can they even make money? Well, they are able to make money because they are lying to you and scamming you, that’s how.

profit in 60 seconds scam report - landing page lies

At this point you may be wondering exactly how this works. How can they be scamming anyone with a “free” product? Here is how the profit in 60 seconds scam operates. The “free” trial isn’t really free. In order to get access to this “free” trial you must open an account and deposit funds with one of their partner brokers. They have agreements with these brokers who then pay them for every customer they refer.

Now, there is nothing wrong with affiliate relationships by themselves, but affiliates like this are scum  of the earth and give all affiliates an undeservedly bad name. This is a basic affiliate scam. They trick you into thinking that you will receive a valuable product just for opening up an account which most would need for trading anyway. But the product is crap. Luckily for them it doesn’t matter how bad the product is because they make all their money before you ever even lay eyes on it. The exact opposite of what they want you to believe. This kind of crap just makes us angry.

Profit in 60-Seconds Review Conclusion…

It hardly needs saying, but as for the software and system itself, it is total and complete garbage. You won’t find so much as a single real person (i.e. not someone promoting the product) that has profited with this system. What you will find is lots of rightfully angry people who got scammed by these scumbags and lost money. In summary, stay far away from this product. The Profit in 60 seconds system is only profitable for those who are pushing the product.

We are really hoping that this Profit in 60 Seconds review will end up saving some people some of their hard-earned money. Not to mention the anger and frustration that comes along with being ripped off.

0/5 Stars = Complete Bunk Product

Stockpair Review – Pair Options, Binary Options and KIKO Options

StockPair Review Updated For 2017-2018

stockpair review registration banner - over 150 assetsStockpair has been around for about 7 years now and they enjoy a stellar reputation among traders. But is this reputation deserved? We set out to answer this question in our updated Stockpair review for 2017. Stockpair started its life as the first and only broker to specialize in pair options trading. And they did this very well. Stockpair is, in fact, the undisputed king of pair options trading. They are also well known as a reliable broker that pays out their withdrawals quickly upon demand. But they have evolved over the years and have also added binary options trading to their lineup as well. So although we have reviewed them before, we thought changes this big warranted another look and a new review. So how do they stack up against the competition now? Read on to find out…

stockpair quality awards

Stockpair Review Basic Information

Specializes in Pair Options Trading
Website Home: http://www.stockpair.com/
First Launched: 2010
Accepts US Traders: No
Account Currencies: USD, EUR, GBP
Minimum Deposit: €/£/$200
Deposit Bonus: 30% Standard & Up To 50% on VIP Accounts
Demo Account: Not Currently Available

Read On For Our Full Stockpair Review…

binary options platform image from our review of stockpair

Trading Platform Information & Features

  • Specializing in two unique pair options: “Fixed” and “Floating” contracts
  • Unique and proprietary trading platform technology
  • New binary options trading platform
  • Newly added “KIKO” options contracts
  • 150+ underlying assets to choose from (one of the best in the industry)
  • The largest selection of global stocks in the industry
  • Over 200 unique tradeable assets (binaries + pairs)
  • Small minimum trade size of only $10
  • Platform Languages: English, French, Arabic, Italian, Dutch and Spanish
  • Up to 86% on binary options and “fixed” pair options
  • Up to 350% on “floating” pair options contracts (available all week)
  • Extensive education section with strategy articles
  • Accurate, real-time pricing model
  • Risk-management and technical analysis tools
  • Reliable and Trustworthy broker with a long history of excellence

stockpair regulation

Stockpair is most famous for their highly popular pair options trading platform. It was and still is the first and only of its kind, and they’ve been very successful with it. For those not familiar with Stockpair’s pair options they offer two distinct contract types: “fixed” and “floating”. Both varieties are based on relative performance and are therefore completely market-neutral. An advantage of pair options trading. There are some big differences between them though, which we will cover in the detailed Stockpair review continued below.

Stockpair Fixed Pair Options

Fixed pair options are the “standard” pair options contract, akin to the high/low binary option contract. With this variety of pair option the relative performance of the “paired” assets is determined from the time of purchase, to the contract expiry. In other words they are normalized at the time of purchase and set equal to each other. Only the period going forward is taken into account. These contracts can be purchased with expiry windows ranging from 5 minutes to 150 days! An impressive range. Fixed pair options offer payouts of up to 86%, and in our experience an average in the high 70’s.

stockpair fixed pair options trading image from our review

Stockpair Floating Pair Options

Unlike the fixed variety, these contracts do not normalize at the time of purchase. The relative performance of the paired assets is therefore determined over the course of a predefined period of time. Stockpair offers two different expiry windows of either one day, or one week. So for example if you purchased the weekly contract on a Wednesday the relative performance of the two assets would be measured from that Monday to that Friday. This means that the performance gaps can become rather large before the contract is ever purchased. The larger the gap the more risky or safe (depending on your play) the trade is. Which means the returns offered on these contracts can vary widely. Returns can be as little as just a few percent for an asset which is greatly outperforming its paired partner, or up to 350% on an asset which is greatly under-performing its partner. Trades will be suspended if the gap becomes large enough that the returns would have to be over the 350% maximum. This is to prevent an unfair advantage for Stockpair. Which would occur whenever a gap became larger than a 350% return could compensate for.

stockpair floating pair options trading image from our review

Stockpair Binary Options Trading Platform

The new additions since our last Stockpair review are high/low binary options contracts and KIKO options contracts. With a ton of underlying assets to trade on. More than most dedicated binary options brokers, in fact. They already had the large underlying asset lineup so all they needed to do was adapt their unique trading platform to handle standard high/low binary options. But how does their binary options platform stack up against the platforms of other top brokers? We would say they do quite well, actually. Their platform is reliable, clear and simple, has a great asset selection, offers high returns, and even comes with helpful technical analysis and risk-management tools. A solid showing for a broker who did not even offer binary options contracts when we did our last Stockpair review in 2014.

StockPair KIKO Options Contracts

KIKO Options – With KIKO Options You don’t have to choose an expiry time!

KIKO options are a relatively new but fairly simple trading instrument in which the trader predicts which of the upper or lower price targets (barriers) the asset price will hit first.

If it first hits the price target that the trader has chosen (Knock-In), the option will expire “In the Money” (ITM) and they will receive a payout.

If the asset price first hits the opposite price target, the option will expire “Out of the Money” (OTM) and there will be no payout.

There is NO set expiry time. This means that the trade will continue until the asset hits one of the barriers.

Advantages of trading KIKO Options

  • High Payouts – up to 80%
  • No Expiry – no need to choose a duration and commit to a time frame
  • Simple and Intuitive – easy to use and easy to learn

Stockpair Customer Service & Reputation

For every review we do we try to make at least a couple of contacts with the broker’s customer service reps to see how they handle difficult requests or account problems. We simply make problems up and see how they handle things. We like to do more than one so that we can test different contacts and channels. For this Stockpair review we contacted them through live chat once, and email once (not including our withdrawal request). Both contacts were friendly and helpful throughout the process, despite my occasional rudeness (all part of the act). As for our withdrawal request at the end the Stockpair review period, it was handled promptly and professionally. In addition there was no badgering us to cancel the request and/or deposit more.

Reputation is extremely important in this industry. We think there is no better indicator of a broker’s overall quality and reliability than their longevity and reputation in the binary options trading community. Stockpair enjoys a reputation going back over seven years of excellent service and reliability. They get high marks from us.

Stockpair Review Conclusion

Stockpair has been a great broker for years but because of that we had high expectations for their binary options platform going into this review. We were happy to find that they were mostly able to live up to our expectations. We would, however, like to see them eventually add 60-second options to the lineup (Update: They now offer 60-second binary options). With this addition of Stockpair binary options trading they can now compete directly with the other top binary options brokers in the industry. In fact we would probably put them in the top 5 overall right now (for traders outside the US anyway).

Stockpair Review Rating = 4.7/5 Stars

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If you have your own experience with Stockpair please comment below or contact us!