Is BossCapital legit? That is a trustworthy broker that will help you make money with binary options? Learn the answer now!
Is BossCapital legit?
Finding a legitimate binary option broker is not always easy. There are quite a few brokers out there who neither care about security nor about their traders, making them a bad choice to start your trading career. So is BossCapital legit?With BossCapital things are different. BossCapital employs several methods to increase security and make trading more successful for their customers.
Those methods are:
Thorough trader validation program
The internet is the perfect place for criminals to hide behind anonymity. This applies to binary option brokers, too. While you have to provide a name to register with a broker, you could easily use a false name.
Illegitimate binary option brokers do not care who registers for their service, as long as they have a new customer. You can recognize a legitimate broker by the efforts they take to make sure that their customers truly are who they claim to be, and not some criminal hiding behind a fake name.
With their thorough validation process, BossCapital are leading the charge against internet criminals. Before you can withdraw money from your account, you have to provide BossCapital with pictures of your ID (front and back), a proof of residence (such as a utility bill), and, if you deposited by credit card, the credit card you used for your deposit and withdrawal (with the middle 8 numbers and the CVV blacked out).
This thorough validation process keeps criminals out of the door and proves that BossCapital is a legit broker.
Minimum trading requirements
Money launderers like any online service that allows them to deposit and withdraw money. They want to deposit the money from their illegal activities, and then withdraw it again, thereby hiding their tracks and turning dirty money into clean money.
To make sure money launderers will not use BossCapital for their illegal practices, BossCapital employs a safety mechanism: You have to use every Dollar you deposit or receive as a bonus in trade for at least 30 times before you can withdraw it.
For a regular binary options trader, this requirement is hardly a problem – they want to invest their money anyway. Since money launderers do not understand how to trade binary options, however, they can’t use BossCapital to launder money.
Having money launderers out of the equation is a great security advantage for you. You can be sure that BossCapital will never be inflicted by police restrictions. In the worst case, the police could even close a broker that has been compromised by money launderers, in which case your binary options trading career would be over. With BossCapital, you can avoid this kind of nasty surprise.