There is a wide range of misconceptions that binary options or Forex trading is a scam, but here I want to clarify your doubts as to whether binary options or Forex trading is a scam.

When I started trading, I blew up my account many times, which left me with the conclusion that it is all a scam. I was so frustrated that it affected me emotionally. This happened because I was in such a rush to make this money without being willing to first learn what it really takes to be a successful binary option or Forex trader. After I messed up my account and my eyes were wide open, everything about me was restored to its default settings. That sounds crazy, right? That’s. After that, I learned my lesson the hard way and started reading some articles and some other books on successful traders.

So what am I saying in essence? Binary options or Forex trading has been around for a long time, and is still what it was back then. It’s legitimate, but people got frustrated when they started out in ignorance and ruined their accounts out of ignorance.

You should take note of this when choosing a broker:

Before any wise person invests their money in any company, that person must verify the legitimacy of said company or firm. Since we don’t live in a perfect world, the world is not free from scammers. Therefore, the need to verify if said company to which you are entrusting your money is paramount.

I have heard of many cases where some people claimed that some brokers are scammers, but since I didn’t get any proof about their scam saga as proof, I can’t label them scammers until I have my proof. Before deciding to invest your money in any broker, it is recommended that you do a background check on that broker. This is to save you a headache that you may not like to experience in the long term.

Here’s another important thing that a lot of people found less significant: I think one of the problems that some people face with some brokers is the fact that they didn’t read their terms and conditions. Some brokers have some clauses that may not be favorable for some people; and their inability to read those terms and conditions and see if they feel comfortable with them is one of the reasons that problems always lock in between them and the brokers.

In conclusion, binary options or Forex trading is not a scam. This is not to say that there are no brokers who are scammers; you just need to understand the difference between binary options trading or forex trading and brokers. Forex is a market full of different brokers, so it is now up to you to choose which one you would like to use as your preferred broker. Please understand that there are some brokers who will ask you to verify your identity before you can withdraw your winnings. You should not take that to avoid misunderstandings between you and your broker.

You can create an account with any of these brokers