Binary Options Targeting People While Covid Surging

As the COVID-19 pandemic continues to spread around the world, more and more people are becoming desperate for ways to make money. This has led to a surge in binary options scams, which target victims by pretending to be investment opportunities that can help them recover from the financial losses caused by the pandemic. Sadly, many people have already fallen victim to these scams, which have cost them their life savings.

If you’re considering investing in a binary options opportunity, it’s important that you do your research first. There are many legitimate investment opportunities out there, but there are also plenty of scams. Here are some things to look out for that can help you spot a binary options scam.

Promises of unrealistic returns

If a binary options opportunity is promising you extraordinarily high returns, it’s likely a scam. Binary options trading is a risky investment, and there’s no guarantee that you’ll make any money at all, let alone the exorbitant amounts that some scammers promise.

Pressure to invest quickly

Scammers will often try to pressure you into investing in a binary options opportunity before you have time to think about it or do your research. They’ll claim that the opportunity is only available for a limited time, or that there’s already a lot of interest and you need to act fast to get in on it. Don’t fall for this pressure – take your time to make sure you’re comfortable with the investment before you commit any money.

Requests for personal information

Before you can invest in a binary options opportunity, the scammer will usually ask for some personal information, such as your bank account details or your Social Security number. They may claim that this is necessary in order to set up your trading account, but it’s actually just a way for them to steal your identity and access your finances.

Unsolicited calls or emails

If you receive unsolicited calls or emails about binary options opportunities from people you don’t know, be wary. Scammers often use these methods to try to reach as many potential victims as possible.

Overseas contact information

If the person you’re dealing with is based in another country, be very careful. It can be difficult to take legal action against someone who’s based overseas, so you may not be able to get your money back if you do end up being scammed.

If you spot any of these warning signs, it’s best to steer clear of the binary options opportunity altogether. There are plenty of other investment opportunities out there that don’t involve such high risks. Remember, if something seems too good to be true, it probably is.

Scammed by a Binary Option Broker

If you have lost money with an unregulated broker, don’t panic. You are not the first and you likely won’t be the last. Mistakes can happen even with the most cautious of investors and should be used as a learning opportunity. The good news is that there is help available. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – is available 24/7 and has helped consumers all over the world recoup millions of dollars.

After filling out the form above, and validating your eligibility for their programs, MyChargeBack will help you build a solid case to regain your funds as soon as possible.n

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