Binary trading scams are a common problem that people interested in investing have to deal with. However, one scam that does not get discussed enough is the existence of fake binary trading academies. So what are these scams and how do they work?

With the promise of getting rich quick and financial freedom, binary trading academy ads are often targeted at those looking to improve their financial situation. But behind the flashy marketing and promises of expert guidance and knowledge is an elaborate scam designed to lure aspiring traders into unregulated brokers and ultimately cause financial loss.

It all starts with a hook
These seemingly useful "academies" are actually useless. Scammers craft these so-called academies to lure people in with the promise of learning how to trade, but their real goals are much more sinister.

They are known for their aggressive advertising strategies. These academies tailor their ads to underrepresented groups who simply want to learn new investing strategies and gain some financial stability. These ads often include:

Promise to make money quickly and easily. If you see an ad that promises you can learn everything you need to know to become a millionaire in just a few courses, red flags should be flying in your head. Yes, you can make money trading, but it's never as easy or fast as these "academies" claim to lure you out of financial trouble. Financial security is what we all crave, and people who are in debt or unhappy with their current income are more likely to fall for "get-rich-quick" scams, which is why these types of people are often targeted by fake binary academy scammers. "Be your own boss" hook. Many people are looking to escape the traditional 9-to-5 job, especially those who are trying to achieve financial freedom through investing and trading. That's why these ads push the "be your own boss" message. Free resources. The promise of free materials like webinars and e-books is designed to help build trust and present yourself as an authoritative source on the topic. However, although you will receive this information, you will only receive it after you provide private information such as your name, email, and phone number. Show "proof"
While these ads are designed to attract you, they are not enough to entice you to sign up for a course and simply visit their website. This is where they start selling you “life-changing courses”.

Sure, they promise quick and easy profits, but that's not all. Their most common attention-grabbing technique is the so-called success story.

On these scam sites you will find videos and articles of people who have allegedly completed the course and are now living a luxurious life. The truth is, everything you see is fake. The videos show actors driving rented limousines and wearing fake designer clothes to create the illusion that wealth can be achieved.

the illusion of learning
As we've already mentioned, you'll most likely receive some sort of free material as an inducement to sign up for the course. While these educational materials may seem helpful at first glance, they are all part of a bigger picture that will ultimately scam you out of your money.

The initial free content was designed to create a false sense of progress. It is oversimplified and presents complete trading concepts in simple terms, making binary trading look easier than it actually is.

There is still a lot of overstated potential in this material. They focus on the occasional “winning” trade, downplaying the nature of binary options as akin to gambling.

Of course, the real problem is that the free content is limited, leaving you wanting more. It leads people to believe that the only way they can truly succeed is to sign up for a full course which of course they have to pay for.

Upsell and Broker Contact
Once they have your contact information, the high-pressure sales tactics begin. Salespeople posing as trading experts will start contacting you, offering exclusive offers and promising you'll make money faster than you think.

Once they sell you a course, they don’t stop there. Their main goal is to get you to deposit your money with a specific broker. These brokers will push you to trade frequently, increase the size of your trades, and prevent you from withdrawing any funds.

Ultimately, the only people making money from your investments will be the colleges and the fake brokers they work with. When you keep losing money on your investments, they will use every manipulative tactic in the book to get you to invest more and more until you have nothing left.

final thoughts
If you want to protect yourself and your financial future, learning how to trade and invest your money properly is a smart move, but it's not the right approach. False duality academies are everywhere and they target unsuspecting people who don’t know much about the world. So stay alert.