Just like any other financial trading institution, there are laws and regulations that must be followed to the latter to safeguard the buyer and seller in equal measure from fraud. Some of the major challenges in the binary trading include
- Lack of remitting money to customer accounts
- Failure to honor the pledges after a win
- Theft of funds
- Manipulation of the binary options software to make losses to capitalize on profits
- Bankruptcy and credit unworthiness of the trading company
At https://www.thefinancialfreedomfighter.com we provide you with knowledge and skills to maximize on profits, that is why 24 option is better to deal than any other option. Violation of the rules leads to conviction and shutdown of the binary trading company. In fact, the governing council has to get the right documentation and rate the creditability before they get into the market. However, the online trading factor may have little control in the reduction of fraud cases. It is upon a customer to run a due diligence to ascertain the authenticity of the trading company before making any investment.
Similar to betting, invest money that you can afford to lose without affecting your financial base. Here are some of the basic laws:
Remember, this is a predetermined setup of trading before you take an option read the terms and conditions because the laws will not support you when you are in agreement with the option company. At the same time; unlike conventional trading, you have no option of reselling the whole process is irreversible, you either win or lose. The yes/no type of business gives you a figure to expect at the end of the trading period if a company violates that the low will come in your support.
Based on the trading rules of that country, some of the regulations differ from one country to the other. A binary trading company must be registered with all the relevant bodies to ascertain their financial strength and if they are in line with the laws of the betting company. In addition, they need to have a proof of their financial ability.
Secondly, they should not hide under a company name; the registrar of the trading company must have all the personal details of the people behind the company. Such that in case there is any violation, you have people to put to account. This might not be possible with the online market, but just in case there is a public outcry of such a company, they the global governing body come in handy to offer all the necessary assistance.
As an account holder, before you make any commitment to the binary trading company, read between the lines and ascertain their authenticity. Where is their physical location, have they attached soft copy documentation on their legality and registration, if not that is a red flag. Remember they are in business because of you, do not be carried away by their huge profits they advertise, that is their marketing strategy. Do not engage with them, they will automatically be out of business because of lack of account holders.