Most scams are related to Binary Options! Explain Disaster Area of Forex Trading Safety in 3 mins

Africa is one of the fastest growing markets for binary options, but only South Africa has established a regulatory framework.It means the binary options are legitimate but unregulated in Nigeria.

What are binary options:

Binary options only consider the price trend of underlying assets (bullish or bearish), compared with traditional financial instruments such as stocks and forex, investors need to consider the price trend (bullish or bearish) and the extent of rise and fall at the same time. Therefore, binary options belong to simplified financial instruments. To put it simply, investors can choose stocks, indices, forex and commodity futures on the platform to invest in options. They only need to judge the direction of rise and fall, and they do not need to consider the extent of rise and fall.

How to trade binary options？

Binary options are very popular in Nigeria due to being easy to use and easy to operate. There are also so many brokers engaged in binary options.

Binary option is a kind of option, and its return has only two results: to gain a high profit, or to lose all money. The return ratio is generally between 70% and 85%, and the return ratio of investment funds is between 0% and 15%.Select the underlying assets such as: trading forex currency pairs: GBP/JPY or USD/EUR. Analyze and judge the price trend so that you can know whether to buy a call option or a put option and choose the amount you want to invest. To complete the above steps on the binary options trading platform, all you need to do is to wait for the contract to expire. If the option expires as an in-price option, the investor will receive a return of 60% to 80% of his invested capital.

Instructions:

1. Select the underlying asset.

2. Enter the amount of investment.

3. Select expiration time.

4. Waiting for expiration

Options have only one of two possible outcomes.

For example: if you invest $100 and predict that the euro / dollar exchange rate will rise in an hour. If your prediction is correct, you will get 70% of the profit, or $70. If the forecast is wrong, your option is lower than the strike price and you will lose $85. Option is such an all-or-nothing way of trading.

How to recognize scam broker in Binary Options？

Binary options are illegal in many countries, or they are called grey trading. They look similar with gambling, it is easy to be fascinated by bullish and bearish.

Here are some advises shared by WikiFX to help you avoid scam brokers amid Binary Options trading.

1: If you have a better choice, please do not invest in binary options. There are lots of unregulated brokers , and your money will be swallowed up in most time.

2: Please learn some knowledge of binary options from web or experts.

3: Do not easily trust the people from social media platforms, they are probably scammers. Relatively an legal broker has official website, providing practical customer services for investors.

WikiFX App is a third-party inquiry platform for forex broker. So far WikiFX has collected regulatory information of over 17000 forex brokers and 30 regulators and recovered over 300,000,000.00 USD of the victims of forex scam.

It, possessed by Wiki Co., LIMITED, was established in Hong Kong Special Administrative Region of China, mainly providing basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, WikiFX has set up affiliated branches or offices in Hong Kong, Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted WikiFX App to global users in more than 14 different languages, offering them an opportunity to fully appreciate and enjoy the convenience Chinese Internet technology brings. WikiFXs social media account as below:

Facebook:

Nigeria Area：https://www.facebook.com/WikiFX.ng

LinkedIn:

Nigeria Area：https://www.linkedin.com/company/31506916

Twitter：

Nigeria Area：https://twitter.com/WikiFX_NG

Wiki Forum Forum Function:

In order to help more investors, WikiFX has launched the “WikiFX Forum”, which aims to provide urgently-needed and professional services to Nigerian forex investors.

The exposure function of “WikiFX Forum” includes the following features:

1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

As long as there is sufficient evidence, a review panel and an executive team will contact the broker to discuss the complaint or expose it directly through the media. Here are the exposure channels:

2: Block low score brokers from entering the forum

3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html

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With 24-hour real-time update of forex market data by minute, you can seize the opportunity of every bullish market! Bookmark the link below and follow the market trends immediately!

Nigeria Area：https://live.wikifx.com/ng_en/7x24.html

More details about how to download WikiFX App:

Please download WikiFX APP from links below or scan QR code ：

iosAppStore: https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Googleplay: https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

If you have any questions, please feel free to contact us at wikifx@wikifx.com