There is an old saying, “A sucker is born every minute.” P. T. Barnum was referring to the willingness of the average person to be taken advantage of by those with no scruples. The truths of those words are still self-evident, even after two centuries. The trick is to not be one of the gullible masses.
Here are a few tips how to avoid signal service scams.
Look at multiple sources
Market analysis is just as much an art as it is a science. Never assume that a single people, or team of people, are correct. They may not have the right data, or the right mindset needed to interpret it.
Go to multiple sources, and see what they say. If numerous independent people are saying one thing, and a loner is saying different, then the loner is either wrong or a scammer. Regardless, do not risk your money or time on such a fruitless gamble.
There is no such thing as a free lunch
Companies do not give out information free. Everything they post is designed to make them money. That promise of a company’s stock going through the roof. It was probably planted after the aforementioned company paid the firm to do so.
Try to identify how the company makes its money. Is it through advertising on its site? Membership fees for the newsletters. On the other hand, is it commissions through brokered trades? The answer to this question will help you decide if the company is right for you.
This extends to all facets of life. If someone is promising that, a company will suddenly double (or even triple) in value overnight, then back away quickly. If you have a friend at the SEC, let them know.
Read the fine print offered by any company carefully. Binary options are a financial instrument that carries exceptional risks. Understand what the company is offering, and the limitations it forces on you.
Never reveal personal information
A quality company will not seek information that may be used to steal your identity. If you are asked for, your driver’s license, social security number, or address, then go elsewhere. Numerous fraud operations conceal themselves under the banner of a legitimate enterprise.
For a newsletter, the only thing you should have to offer is your email address.