Despite the bad reputation that they often get, binaries are not a scam. It is important to be aware of them though, as there are brokers and signal providers who are untrustworthy and may operate scams.
Don’t be quick to write off the concept of binary trading though, based on a few dishonest brokers. It is those few people who are bringing down the image of this form of trading, and stopping people from investing in binary options. Although regulators are slowly starting to get to grips with these operations, and the industry is slowly being cleaned, you can, in the meantime educate yourself better, and help yourself to avoid scams.
You can use these simple checks to help you avoid scams:
Being aware of the above will help those who are new to binary trading avoid untrustworthy and less responsible brands.