Myfbb.online Review My First Binary Broker, Legit Investment or Scam

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Myfbb.online Review: My First Binary Broker, Legit Investment or Scam?

My First Binary Broker Ltd Review: Is Myfbb online a reliable investment? Read our review to see what experts have to say about My First Binary Broker Investment

MyfbbOnlineclaims it can help you grow your money. Is Myfbb.online paying? You may have come across many systems on the internet promising you quick fortunes, the truth is that majority of them turn out to be scams.

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In this review we provide you information based on our investigations and user experiences to help guide you make the proper decision.

Myfbb.online Scam Review: Disturbing Things Found

Though this site might appear legit to a newbie, the truth is that it is just a wishy washy HYIP designed in such a way to convince unsuspecting investors. Most of this scam quick-profit investment schemes are HYIPs. What is a HYIP?

It is a just a type of ponzi scheme. Initial investors only get paid when new people sign up and invest, what this means is that you are under pressure to bring in new investors so that you will get paid. As soon as the amount of new investor drops, the owners do away with the money invested. Thus, the site is closed down since there is no longer enough money to pay initial investors. Those that benefit most times are the first investors. However, the system is not sustainable because it will surely shut down abruptly leaving your money trapped in the hands of the scammers that set it up initially.

Most of them provide a registration certificate and so-called evidence of payments. Don’t be deceived, anybody could get a sham address and certificate most especially from the Company House in UK which most of them use, for just £5. These companies claiming to be located in the UK or similar countries like the USA are not in actual sense located there.

Sometimes these platforms might pose as an investment platform, doubler platform or even a mining platform. Often times they might run an ads through the google ads academy or even get a youtube ads making them look legit. But the truth is that they do not have the equipment that make them what they claim to be. Rather what they do is circle the funds of investors, and when they have made a lot of unsuspecting investors trust them, they stop paying.

The Difference Between a SCAM and Genuine Investment

It is true that most of this high yield investment platforms look like the real deal, thus confusing us.However, there are various ways to find out if an investment platform is a lackluster HYIP or if it a trusted investment platform. Below are ways you could find out-

  • ROI- The returns offered. Are they sustainable? Can the funds be shuffled round and get to every investor? are the offers realizable?
  • History- Does the platform have a history? Can the company behind it be found online?
  • Transaparent– How transparent is the information on the website?
  • Contact– Can you reach them? Is the address made available on the platform?

Myfbb.online i s not a legitimate investment platform . Don’t be deceived by their promises.

Conclusion-

Everyday we get complaints of people been scammed. Most people fall for these schemes because of the sweet promises of making huge profits within a short time. .On a serious note, legit systems exists but scams are very very numerous. So you need a guide to help you make a good decision. We have made it our duty, by exposing scams.

Our Recommendation

They are lots of online investment opportunities which could fetch you money and give you a good Return On Investment. We constantly search them out to guide our readers so they don’t fall for scams. Always feel free to interact with us in the comment section.

Myfbb.online Review: My First Binary Broker, Legit Investment or Scam?

It’s marketed as an investment opportunity and a route to easy money, but binary options trading can be more like betting on a coin flip without any protection for your funds. Binary options trading through regulated platforms can offer ways to bet on market movement while moderating risk. Unfortunately, the binary options landscape is full of fraud. Many investors lose money—sometimes even their entire life savings—to con artists who trick them into believing binary options are their ticket to financial gain.

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  • BINOMO
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Binary Options Trading

With a binary options trading strategy, the holder is effectively betting on whether the price of a particular index or asset will rise or fall versus a certain price level. If you bet right, you are paid a fixed rate of return. If the market doesn’t hit your price, you lose your investment. It’s an all-or-nothing proposition. The binary option can be a bet on the price of an index, stock, currency or some other asset. However, the binary option buyer never actually owns the underlying investment asset.

In the U.S., the Securities and Exchange Commission and Commodity Futures Trading Commission regulate binary options platforms and trading. A joint SEC-CFTC investor alert explains the win-or-lose nature of binary options trading, and cautions that not all internet-based trading platforms comply with U.S. regulatory requirements. The alert also notes that trading platforms may “overstate the average return on investment by advertising a higher average return on investment than a customer should expect, given the payout structure.”

Binary Options Fraud

The rise of illegally operated, internet-based trading platforms has opened up new avenues for scammers, and fraudulent binary options platforms are particularly common. Investors are lured into trying their hand at binary options trading, using “demo,” accounts or a modest initial investment stake. Trading takes place through platforms that seem legitimate, but are in fact are nothing but smoke and mirrors. One consistent element of these fraudulent platforms: they almost always show the investor making money—and lots of it. As “profits” grow, the scammers ask, or even demand, that you deposit more and more money.

Then the problems begin. In some cases, a fraudulent binary trader simply won’t credit or reimburse their option holders as promised. In other words, they’ll take the money and run. Or they may tell the option holder to send funds for payment of taxes or other fees in order to receive the option “profits.” Internet-based traders may also harvest credit card numbers and other personal information useful for committing identity theft.

There are also follow-up scams. Once victims have lost money on binary options, they may be contacted with false promises to help recover their funds—for an up-front fee. Scammers may even pose as government representatives claiming that the scam victim owes fines for illegal trading.

If someone contacts you claiming to be affiliated with a government agency and pressures or threatens you into sending money, treat these as warning signs of an impostor who is trying to work a scam. Be aware that the IRS will notify you by mail first if you owe money, not by phone or email, and the SEC does not charge money to help people recover investment losses.

To protect yourself from internet-based binary options scams, consider these tips:

  • Be wary of any internet trading platforms that appear to originate in foreign countries. These platforms may not be complying with regulatory requirements in your own country—and may be fraudulent.
  • Learn to spot the signs in binary options scams. The Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and Canada’s Investment Industry Regulatory Organization (IIROC) have all issued alerts about the dangers of binary options scams.
  • Call FINRA’s helpline in the U.S. to ask about potential binary options scams: (240) 386-HELP (4357).
  • If considering a purchase of binary options, carefully research the trading platform before you buy.
    • Check with CFTC to see if the binary options trading platform is a “designated” market. Call: 1-866-FON-CFTC.
    • Check with SEC’s EDGAR system to see if the binary options offering is registered with SEC, and also whether the platform is registered as an exchange. Call: 1-800-SEC-0330.
    • Use FINRA’s BrokerCheck ® to see if binary options brokers are registered.
    • According to the IIROC, in Canada” “Binary options cannot be offered or sold to retail investors in Canada.” Anyone offering such options in Canada should be reported at once to provincial securities commissions.
  • Don’t provide copies of your credit card, driver’s license, or other sensitive documents online.
  • Never pay up front money to individuals who may contact you, claiming they can help you recover an investment loss.
  • Check BBB.org’s Scam Tracker SM to read reports on how scammers operate.
  • If you think you may have encountered a binary options scam, you can file a complaint or a tip with the FBI Internet Crime Complaint Center at ic3.gov.

The BBB of Metro New York contributed to this article. Thanks to FINRA for their review.

Myfbb.online Review: My First Binary Broker, Legit Investment or Scam?

Have you just stepped into the world of trading and all set to trade using Binary Book? Well, you need to stop right here. Opting for Binary Book may not turn out to be a pleasant experience for you, and we can reason out what we are saying.

We decided to check out who came out with the concept of Binary Book and we were in for some disappointment. The about us section did not offer any insight about who founded the website.

When the information about the founder is there on the website, then you are more confident about the fact that you have made the best choice.

Well, after doing our bit of research we figured out that this broker was founded in 2020 but it is not regulated, and this spells doom. Binary Book only offers a limited number of assets and does not allow the US trader to trade using this platform.

The deposit amount is too high

At the moment Binary Book offers five different account types. This includes the Micro, Basic, Gold, Platinum, and VIP account. If you opt for the Micro account, then it requires a minimal investment of about $1000 which is quite high.

The worst part is that if you decide to opt for the other account types, then they require a deposit higher than $1000 and this can turn out to be quite a risky venture. The features of the account types are not mentioned on the website.

It seems that the broker keeps you in the dark about its offerings.

Not active on social media platforms

The social media platforms also give you an idea about the operational state of a trading platform. We visited the Facebook page of Binary Book and we were in for some unpleasant surprise.

The Facebook page seems to be quite inactive, and the last post was put up in 2020. All reputed brokerages make it a point to remain connected with the traders and give them the latest updates. It seems that Binary Book does not have much to offer and perhaps that is the reason that the page is not active.

Demo account is not available

The demo account is also not offered by Binary Book, so it becomes quite difficult to analyze this trading platform with a critical perspective. When the demo account is where you try out the different features and assess whether the platform is suitable for you. However, Binary Book deprives you of this opportunity.

We also visited the Learning Centre out of curiosity. We were hoping that the platform must have uploaded some videos related to Binary Book trading, but this did not turn out to be the case.

Conclusion

When you are about to select a broker, then you need to evaluate the pros and cons. We feel that the cons of Binary Book are much more than the pros. This is why we suggest that you should not opt for this broker in the first place.

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Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Best Binary Broker 2020!
    Perfect for Beginners!
    Free Trading Education! Free Demo Acc!
    Get Your Sign-up Bonus Now:

  • BINOMO
    BINOMO

    Trustful broker.

Binary Options Trading School
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