Avoiding Binary Options Signal Service Scams

By | August 8, 2013

Thursday, August 8th, 2013 by Tim Lanoue

Binary options are an innovative and revolutionary style of trading that offers great returns and give traders the chance to earn more money online.  One of the best things about this industry is that you don’t need a vast amount of knowledge in order to succeed as a trader; all you need is a reliable binary options signal service.  However, how do you separate the good signal services from the scam signal services?

Picking a Signal Service 

There are a countless number of binary option signal providers available in the market today; however picking one that is not a scam is difficult.  One of the things that we look for with a binary options signal service would be the appearance of the website.  Does the website give off the type of vibe that screams scam or does it catch your eye with an innovative touch that makes you more interested.  Chances are if the website looks legit then your chances of finding a reliable service provider has increased.

Background Check for a Signal Service 

Next step you can take to find a reliable signal service would be to do some research online about the provider.  You can type in the signal service providers name and the word scam after the name and see what search results you receive.  A few examples of what you would want to enter into Google search would be:  Is Bob Marget’s Super Binary Trading Signals Service a scam? , Bob Marget’s Super Binary Trading Service Scam?, Bob Marget’s Signal Service Scam?.  More than likely there will be a search result with a review or result from the signal service site you are researching.

Another measure you can take is to visit a binary options forum, reviews sites and see what traders are saying about certain signal providers.  Even if there is not a topic concerning your signal provider you can create a topic and see what the experts or other traders have to say about that signal provider.  This is a simple step you can do and it may open your eyes to other signal providers available to the public while also getting your questions answered.

Testing The Quality of a Signal Service

Lastly, you can visit that signal provider’s website and check out their customer support system.  See if they are answering all your questions and if they are getting back to you in a timely manner.  Next, check their professionalism and see how well their grammar and punctuation skills are.

If you have completed the above steps then you can feel at ease knowing that your signal provider is probably reliable and not a scam.  Now that you know how to avoid binary options signal service scams the last thing you want to check would be their performance.  If they average a wining percent of 60% or higher then they definitely are a great choice for you.  Joining a reliable signal service with a good in the money percentage is a great way to earn extra money online.

2 thoughts on “Avoiding Binary Options Signal Service Scams

  1. Maurice Lampl

    I just paid $57 for access to their signals site and got my password. First thing that popped up was a phone verification of my mobile phone number. I’ve entered my phone number several times to get my code via SMS to enter my signals site and never did get any response. I am deaf, so phone calling is not an option. I wonder if I have been scammed out of my $57.00??? I even called my mobile via my partner’s cell and my mobile did receive the call, so it works…

    Reply
  2. Trader

    I think that binary option is a great way to make money, but have to be careful because you can loose some profit

    Reply

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