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How to Avoid a Binary Option Scam in 2020

After today, we will no longer be publishing reviews on Binary Option Scam programs.

We have extensively covered HUNDREDS of these programs over the last 14 months. We’ve said just about everything we possibly could have on these scams.

We also seemed to have made quite a few “review” sites angry by not actively promoting ANY binary option programs.

It’s hard to promote something you willingly know will be robbing people of their hard earned money. The people affected by these programs are the ones who usually have it all on the line and stand to lose the most. I could never comfortably live with myself knowing I was making money in that way.

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These fake review sites like to point fingers and claim we’re lying to deceive folks. They essentially accuse us of the exact tactics they are using. It’s definition insanity.

Why I Don’t Deposit Money into Binary Option Brokers

A new binary option program pops up daily, sometimes 2 or 3 open shop, each and every single day.

These programs are designed for one purpose: to get you to deposit money into a foreign brokerage account that is not regulated by any U.S. law.

Meaning, you have little to no recourse at ever getting any of your money back, filing a complaint, or sometimes even withdrawing the money on the off-chance you win one of your bets.

These programs typically have a $500 minimum deposit.

With two popping up per day, I would have to spend $1,000 of my own hard earned money, every single day just to test their claims.

Listen, I don’t need to punch myself in the face to know it’s going to hurt.

And I also don’t need to send $1,000 per day overseas to know I’m not going to become a millionaire just by pushing a button or by following some secret algorithm.

Here’s the Million Dollar Reveal…

There’s a program being touted as a guaranteed winner right now.

Numerous fake review sites are popping up promoting it. It’s called Fast Cash Biz and they 100% guarantee you’ll earn $10,000 per day on average JUST BY PUSHING A BUTTON.

I am not personally exaggerating this. These are the exact claims made by Fast Cash Biz, taken DIRECTLY from their website.

Here is a screenshot directly from their page…

Let’s think about this rationally for just a second.

If it were that simple to make $3,650,000 per year, why on Earth would I ever advise against joining?

We could all be millionaires overnight!

There is literally no reason for me to ever say a bad word about this program.

Unfortunately, reality falls far from their claims.

Here’s the Binary Options Fraud:

Did you know that Fast Cash Biz pays out $250 in affiliate commissions?

That means, any of those fake review sites are paid $250 every time a new user follows one of their recommendations.

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Last time I checked, my Fast Cash Biz review was averaging over 100 views per day.

If I were to review it positively and recommend that people join it, I suspect I could convert on average 10 people per day.

This means, I would make $2,500 per day in affiliate commissions from Fast Cash Biz ALONE. This is close to A MILLION DOLLARS PER YEAR just for one article.

Hey… are you starting to see why so many of these fake review sites are popping up?

And this is just ONE PROGRAM.

We have HUNDREDS of these reviews in our database. I am comfortably sitting on millions of dollars worth of commissions if I were to give these scams a positive recommendation.

Why on Earth would I ever advise against joining a Binary Option program?

You already know the answer to that…

Because what they claim isn’t possible.

The only people making money here are the scammers suggesting you deposit money into these shady brokers.

Not you.

That’s all there is to it.

How to Avoid Getting Scammed by Binary Options

1. Ask yourself “is this too good to be true?”

And really, this list needs to just be one item long.

Most of the time, these scams are advertising guaranteed wins on binary option betting.

If you’re unfamiliar with binary options to begin with, you’re betting on whether or not a stock will go up or down within an incredibly short time span.

You are basically betting on a coin flip.

Would you trust me if I told you I could predict heads or tails with 99.9% accuracy?

Dear lord I hope not.

Now what if I told you that I could turn you into a millionaire overnight just by guessing heads or tails.

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You’d think I went crazy and you’d immediately stop talking to me.

Apply that level of sense to your online interactions.

2. Check to see if the Exchange is registered with the SEC

You can view a list of all approved SEC exchanges here.

If the advertised exchange isn’t on there. Don’t do any business with them.

And really, this is all there is to it.

Use common sense, and research where you are sending thousands of your own dollars.

The Good News

The FTC is currently on to these scams.

I suspect we’ll start seeing some of these fake review sites shut down in the coming months. Expect to see headlines where they issue millions of dollars in fines and possibly even jail time.

It’s happened before with scams we’ve covered previously. It’s only a matter of time at this point.

The claims being made by these programs are also getting increasingly outlandish.

Their marketing methods are becoming ineffective and these are last ditch efforts to attract new victims. This is a cycle we’ve seen time and time again. And I will continue to work behind the scenes to make sure these scams are properly persecuted.

On our side, I’ve Tried That has been around since 2007 and has become one of the most trusted voices on the web.

We’ve celebrated our 12th anniversary this year and we are happy to continue to work tirelessly for all of you for years to come.

What’s Next?

We’re going to be bringing the site’s focus back around to the reason we started this site in the first place. We’re going to keep providing you with high-quality internet marketing information, legitimate work from home jobs, and in-depth looks and the testing of claims made by credible products.

At this point, I’ve said all I can about Binary Options scams.

Starting tomorrow, we’ll no longer be covering them.

Stick around. I think you’ll quite like the direction we’re heading.

1 thought on “How to Avoid a Binary Option Scam in 2020”

  1. Will be nice to see the FTC shutting these down, issuing fines, and hopefully some resulting in jail time. I pretty much decided not to cover most of them as well.

    Reply

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