Binary Options Con/Scam

This is a discussion on Binary Options Con/Scam within the Fixed Odds forums, part of the Commercial category; In this case i don't blame the so called broker but rather the trader , why would someone trade with ...

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Old Oct 31, 2012, 11:45am   #31
tar
 
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Re: Binary Options Con/Scam

In this case i don't blame the so called broker but rather the trader , why would someone trade with these skanky binary brokers ? and what is so fascinating about the 80% return ?!!
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Old Oct 31, 2012, 12:04pm   #32
 
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Re: Binary Options Con/Scam

Filmon started this thread
Quote:
Originally Posted by Mr Stone View Post
Hello everyone,

I was taking a few days off from posting, then a client of mine gave me a heads up on this thread.
To Filmon, sorry you got yourself screwed over. But making aqusations about my platform and location and services is bang out of order. You are in London are you? Well how about you come through to our office and meet me face to face. I am here Monday through to friday.

You want to sling crap around fine. But try to make out that we are a scam and not with an office in NW London is pure crap. You have an open invitation to come through at any time.

For anyone also joining in. I have stated numerious times we are not currently regulated or licensed. Check out there to see who has a sterling reputation and who doesnt. GOptions is growing and still providing top sterling service to any client trading with the platform. To date not one client has had any problem accessing or receiving their money when requested.

To the forum veterans i know you do not like binary options. fair enough it is not for everyone. A client chooses to buy the option on not. Bonuses are optional and not forced on anyone, and most importantly in our terms and conditions everything is in black and white.

Filmon, as I said. You are more than welcome to come through to our offices and see me face to face. I am in the office 10am GMT until late every day. So, before you continue badmouthing us, who incidentally have never had you as a client or treated you poorly at any time I suggest you get your facts right. Once this month is done I will continue posting some trades and ideas. Again I am not forcing anyone to do anything and yes I am after new clients. Everything I have said and done has been upfront and I am the only broker to have come to this forum for Binary at least and done that. Actually answered straight up to all questions and pokes.

Sorry if you got shafted. Next time READ the terms and conditions before you throw your money down the toilet with a platform that is out to screw you over.


Mr Stone
Mr Stone, thank you for guaranteeing my request to visit your office, I'm quite interested on finding out more about your business, so how about I come and see you face to face on this Friday Nov 2.

Folks I shall report to this form the outcome of my visit to Goptions London office and meeting with mr.stone
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Old Oct 31, 2012, 12:11pm   #33
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Re: Binary Options Con/Scam

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Originally Posted by Filmon View Post
Mr Stone, thank you for guaranteeing my request to visit your office, I'm quite interested on finding out more about your business, so how about I come and see you face to face on this Friday Nov 2.

Folks I shall report to this form the outcome of my visit to Goptions London office and meeting with mr.stone
don't go alone
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Thanks! The following members like this post: rsh01
Old Oct 31, 2012, 12:13pm   #34
 
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Re: Binary Options Con/Scam

Filmon started this thread
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Originally Posted by pboyles View Post
Any unregulated broker is a bad broker to deal with. Don't take it personally, its just when you disappear your clients will not be entitled to compensation like they would be with a regulated broker.
Indeed that is the point. In regards to our friend here mr stone even though un regulated and unlicensed broker he thinks his broker is better than others like him. That is why I'm giving me one more chance on finding out everything there is to find about his business. I'm off to see him face to face in his office, and shall report to this form regarding the meeting.
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Old Oct 31, 2012, 12:35pm   #35
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Re: Binary Options Con/Scam

pl ask him when he is going to come under FSA
even then what about client money safety in cas his firms goes belly up?
and Is it a market maker business
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Old Oct 31, 2012, 12:39pm   #36
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Re: Binary Options Con/Scam

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Originally Posted by moka2 View Post
pl ask him when he is going to come under FSA
even then what about client money safety in cas his firms goes belly up?
and Is it a market maker business
Binaries are not regulated by the FSA but rather by the Gambling commission , so there is no real money safety with binary brokers ...
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Old Oct 31, 2012, 12:50pm   #37
 
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Re: Binary Options Con/Scam

Filmon started this thread All the forumers commenting on this thread should be commended.

I'm a newbie to digital trading but my understanding is that BO can be and should be regulated and work as a new financial instrument. The idea of brokers hedging clients position in the financial market and getting their revenue only through commission is a workable model. The model is fairly complicated but the core idea is quite simple and fair play. But what do I know....
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Old Oct 31, 2012, 1:05pm   #38
 
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Re: Binary Options Con/Scam

Filmon started this thread
Quote:
Originally Posted by D70 View Post
Did you get a screen shot of your trading and proof of your money in the account?
File a small claim against them. You can do it online. Dont let them get away with it. It's easy to do.

I have used the small claim route 3 times so far, for various things. I got my money every time.

Twice against an employer. Once against a landlord.
Thanks for the advice, yes I got some screen shots of my trading history and balance at the time of withdrawal request.

My bank have never been helpful to me before but on this case they have been quite helpful on refunding my initial deposit to the scam broker, and I think my bank will probably list that scam broker account into black list. Regarding to my profits I will see what is possible through small claims route....
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Old Oct 31, 2012, 1:09pm   #39
 
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Re: Binary Options Con/Scam

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Originally Posted by moka2 View Post
pl ask him when he is going to come under FSA
even then what about client money safety in cas his firms goes belly up?
and Is it a market maker business
Yes I'm gonna asking all these questions and more. Plus I'm gonna video record him and post it on youtube, what is he got to hide especially considering his confidence and arrogance!?
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Old Oct 31, 2012, 3:47pm   #40
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Re: Binary Options Con/Scam

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Originally Posted by safvan View Post
Absolute nonsense. No single party on the other side of the trade (should it really exist) is continuously going to risk such volatility.

There is NO central exchange for the majority of these unregulated brokers. They make the market period.

The only exception to this rule as you have uttered in your ramblings is the play of probability.

Bank gathers the fortunes from the pubic and runs its business till there is a bank run.

Binary options with 800% payouts will never be regulated by an authority with "regulated neurons" capable of thinking rationally unless they agree to the probability argument but that is still not discounting the fact that no central liquidity provision system exists for the majority of option gaming products.

So Mr Einstein of "How I became a Billionaire in 30 days" book, the mathematical weightage you are giving to the potential wins over losses in this scenario lies within the confines of the gambling products and not from money management risks overseen by regulated exchanges.

I am fine with these products advertised as gambling games with some edge given the customers. It needs to if customer retention is of some importance.

Oversell your childish Bull Sh**t to some one else.
Sorry not answering you any longer
You obviously haven't a clue in your mind
THE INDUSTRY REGULATIONS ARE ALREADY DONE BY MIFID!
IT'S REGULATED
MOVE ON !!
INCLUDING 1 TOUCH -- UGGGH
MATH !!!
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Old Oct 31, 2012, 3:49pm   #41
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Re: Binary Options Con/Scam

Gaming comission thing is true in England and in Malta
Rest of Europe will be Financial regulation allowing all current binary trades
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Old Nov 1, 2012, 5:23am   #42
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Re: Binary Options Con/Scam

Ok SO what insurance cover clients of MIFD regulated brokers get? and that too in a country like Cyprus or Malta ( No disrespect to the people from those countries .. I am only referring to teh strength of your regulator)
As comapred to SIPC insured broker?
Care to explain? FACTS please ( and yes even a $500 account is protected under SIPC)
And if you can't answer honestly then ypu MOVE ON


"The protections available under the Securities Investor Protection Act ("SIPA"),
are only available in the context of a liquidation proceeding of a SIPC member
broker-dealer and relate to the "custody" of securities and related cash at the
SIPC member broker-dealer. In a liquidation proceeding under the SIPA, SIPC may
advance up to $500,000 per customer, of which up to $250,000 may be cash for the
purpose of investing in securities.
Puts and options are "securities," as that term is defined in SIPA, and are
protected as "securities" up to $500,000 per customer. Cash kept as collateral,
however, is simply treated as cash, and is only protected up to $250,000.
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Old Nov 1, 2012, 7:16am   #43
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Re: Binary Options Con/Scam

Ok, Ill play this game
1. Insurance is great
2. The fact that it exists is great
3. I love insurance
4. What does this have to do with the argument at hand?
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Old Nov 1, 2012, 8:12am   #44
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Re: Binary Options Con/Scam

If you want to play the game stick to the rules mate
This shows that the Product Y you are promoting has got many extra risks associated with it and because it's product providers are not compelled to disclose the risks and are not scrutinised .
and worst people like you brush aside the clear risks and keep saying don;t worry
Have you got the guts to honestly look in to and prove to all of us that your Product Y
- Does not have risks I am talking about
- Is better than Exchange traded products
I have already agreed that the BOs have easier looking interface and easy to understand product
But that's all...
What good is this if the the paper profits one gets trading these products is fictitious broker can do whatever they like actualy the Broker is not realy a broker but a COunterparty you are trading against!

Mate any bloody blind Freddy can see why there is so much hassle with Brokers offering OTC products
People like you just don;t want them to know the real risks


Don't promote BS about small accounts don't need any protection and retail trader does not need to know Market depth etc

Pathetic
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Old Nov 1, 2012, 8:47am   #45
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Re: Binary Options Con/Scam

Ok
Fair enough. Exchange traded financial products pose the same inherent market risks but none of the broker risks. Sure banks fail and you get pennies on the dollar. Not sure how insurance works in those cases, I admit. But if your only issue is corporate failure - then yes, there's lower risk dealing with a US broker, slightly higher with a UK, slightly higher with a MIFID broker, and higher still with an unregulated broker.

However, the reasons are not because of this moronic disclosures. Do you really read what banner ads say in the small print? Neither does anyone else. DO you read the small print at the bottom of landing pages? Neither does anyone else. So great, the regulators make the brokers put it there. No idea what good it does. In fact, unregulated brokers also have risk warnings on their sites. Does it solve problems? NO

Do regulated brokers act as counterparties 100% yes
they all DO
that has nothing to do with regulation
Wanna hear the best part?

If you are FSA regulated YOU ARE ALLOWED TO PAY AFFILIATES AND IBs ON CUSTOMER LOSSES !!!!
IT's ALLOWED !!!!!!!!!!

How the hell is that ok?


But 99% of issues facing
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