Binary Options websites are NOT a way to get rich quick. These are scams
We discuss binary options trading and whether you can make money with it.
You’ve probably landed on this page because you stumbled on a website on the Internet that claimed to provide some kind of system for making lots of money before telling you that it involves binary options trading.
Such websites will initially bait visitors with Facebook or website adverts that promise some sort of “guaranteed” or passive system to generating lots of money. In the past we have seen these websites purporting a “secret” or “accidentally leaked” system (or loophole) that allows those who participate to “beat the bank” and get rich. Or they can promote themselves as a “system” designed or invested into by a well-known celebrity (popular targets are Peter Jones, Bill Gates, Richard Branson and Martin Lewis.)
These adverts then lead interested visitors to their websites (or firstly to what appear to be news editorials) that claim they have a system or program that can make those who use it very rich [with what turns out to be] trading with something called Binary Options.
Such website can use the names of celebrities to lure visitors.
As such, we start with this… it’s all lies. Binary options trading isn’t a secret or underground method to get rich quick. There are no systems that can “beat” it. There are no “proven methods” or leaked techniques/loopholes that will allow anyone to easily make lots of money with it. And there are no celebrities behind it, investing in it or endorsing it.
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To be clear – any website that tells you otherwise and dresses up binary options as a get-rich-quick system is deliberately lying to you.
So what is binary options trading?
Binary Options trading is a mostly unregulated form of trading that allows investors to predict whether a particular stock will rise or fall within a short pre-defined period of time. If the user gets it right, they get a fixed return on their investment. If they’re wrong, they lose their investment.
However, because it is mostly unregulated, brokers (the websites you sign up to to actually begin) may not be honest, and can use all sorts of hype or unrealistic profits to lure you into signing up, as can the websites that lure you to them. Essentially, such brokers can do and say what they want, and the lack of regulation means they can pretty much get away with it. With many of the more shady brokers, the odds may actually be fixed so you cannot win.
Do not fool yourself. Regardless of what broker you use, unless you are an experienced trader, binary options is the same as gambling. As we said above, there are no systems to beat it. No secret tricks. No automated methods. No software that can passively make you rich using it. These things simply do not exist.
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Across the Internet, binary options trading has become synonymous with get-rich-quick scams because of the high number of websites and brokers promoting it as some kind of sound investment system to the “average Joe” when it is anything but. Like most forms of gambling, the “house” retains an edge and those who are lured up to such schemes under the promise of financial freedom are nearly all going to lose money.
Websites peddling binary option “systems” often pose as legitimate media outlets to fool visitors.
Our advice; don’t go near them. Despite the increasing number of get-rich-quick websites promoting them, binary option platforms are not going to make you rich. It’s just a ploy that allows third-party websites to lure you to signing up with binary options brokers so they can make a commission.
There are no exceptions.
If you are interested in making money using the Internet, stick to reputable methods that don’t promise unrealistic profit goals. Our recommendations are here.
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Thanks for reading! But before you go… as part of our latest series of articles on how to earn a little extra cash using the Internet (without getting scammed) we have been looking into how you can earn gift vouchers (like Amazon vouchers) using reward-per-action websites such as SwagBucks. If you are interested we even have our own sign-up code to get you started. Want to learn more? We discuss it here. (Or you can just sign-up here and use code Nonsense70SB when registering.)
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