In the recent years, binary options fraud victims have seemed to multiply rapidly. The primary reason behind these binary options scams is that many binary options firms have popped up both domestically and internationally with the aim to capitalize on the lack of initial regulation on the binary options financial trading sector. People who do not have proper education towards binary options trading fall victim to this scam.
A binary options scam starts off with an email about some amazing new app that can make you rich. If you click on that link, you’ll be directed to a page with a video of someone showing you their new app, how to use and make more fortune. After watching this video, you’ll be prompted to sign up to a binary options broker who will assist you in creating an account for you.
Most of the times people end up with their funds blocked if they are signed up with a broker that is a complete fraud. Here we’ve discussed how chargeback helps you recover from a binary options scam.
Chargeback procedure can be used if your binary trading account has been loaded with a credit card. This can be attempted to cancel any fraudulent transaction and get back your money. The credit card companies will try to do a chargeback if you properly report the transaction and if they approve your request.
How Does It Work?
If you are a victim of binary options scam, there are companies specialized in chargebacks that can assist you in that. The simple three requirements to make charge successful are,
- Transactions dates and amounts
- The binary options trading website/company
- Total amount deposited
Tips to Identify a Binary Options Scam
- The victim is cold called by a complete stranger
- A specific profit for a particular data
- Brokers applying severe pressure by imposing deadlines
- If you are contacted telling that this is a special offer meant just for you
- The company making the offer is registered in a small, under-populated country you can’t easily find on a map
The following criteria characterize the best binary options brokers,
- Regulatory bodies
- Tradable financial instruments
- Accepted payment methods
- Trader friendliness
- Effective returns and withdrawals, and more
The author of this article has a vast working knowledge of chargebacks and wire recalls. In this article, he explains how chargeback helps you recover from a binary options scam. Visit https://mychargeback.com/ for more information.