Binary Options Con/Scam

This is a discussion on Binary Options Con/Scam within the Fixed Odds forums, part of the Commercial category; Originally Posted by LouiseR We have recently tried to illustrate the importance of regulation in a recent post; In the ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Apr 1, 2015, 12:54pm   #321
Joined Aug 2012
Quote:
Originally Posted by LouiseR View Post
We have recently tried to illustrate the importance of regulation in a recent post;

In the interests of transparency, this is the commercial website I am employed by and we operate as affiliates so... **vested interest alert**!! but I think our article still adds value to the discussion.

http://www.binaryoptions.co.uk/regulated-binary-options

Hopefully the industry will continue to make regulation a big priority as a great deal of harm has already been done to the binary options sector - but it has begun to get cleaned up.
Cysec as compared to UK FCA no comparison
If Alpari was in Cyprus what chance people have of getting any money back
Atleast in UK there is the 50K cover
SO unless Binary options broker start getting in to more stringent jurisdictions they won;t have credibility
moka2 is offline   Reply With Quote
Old Apr 1, 2015, 1:51pm   #322
 
3 Posts
Joined Apr 2015
Yes, a broker authorised to trade by the FCA would give clients absolute confidence. This should be the aim for any creditable broker, so binary brands looking at the UK will hopefully take note. Ultimately, it would be in their interests.
LouiseR is offline Commercial web site   Reply With Quote
Old Apr 1, 2015, 10:41pm   #323
Joined Aug 2012
Quote:
Originally Posted by LouiseR View Post
Yes, a broker authorised to trade by the FCA would give clients absolute confidence. This should be the aim for any creditable broker, so binary brands looking at the UK will hopefully take note. Ultimately, it would be in their interests.
Yes indeed, However that still leaves one main issue, Even if regulated within FCA umbrella, if the broker is Market maker then there is conflict of interest,
A true Binary Exchange would be even better,
AT this stage in USA NAdex seems to be the only one but in US under CFTC there is no client money protection fund like in UK
moka2 is offline   Reply With Quote
Old Apr 15, 2015, 11:05pm   #324
 
2 Posts
Joined Apr 2015
You should trade only with FCA ( UK ) or ASIC ( Australia ) regulated [Link removed] binary options[/URL] brokers.

Last edited by Trader333; May 31, 2017 at 3:12pm.
chingxang is offline   Reply With Quote
Old Jul 6, 2015, 1:38am   #325
Joined Aug 2012
Quote:
Originally Posted by Trugernanner View Post
Binary options trading is the newest way of making money online but like in the case of anything thatís new, people still arenít completely sure that itís legitimate or not. For this reason, many people are asking the question if binary options are a scam or not.

The answer is that financial trading is not a scam [COLOR="rgb(255, 0, 255)"](Trading is not a scam.. the brokers, or service providers could be that is the point)[/COLOR] and you can really make money using this form of online trading. However, there are unfortunately indeed some brokers that are scams and should be avoided.

Fortunately, financial trading is already regulated in many countries around the globe and for this reason there are already a number of brokers that are regulated and licensed which are definitely not scams.
Again question is
- how robustly the market t is regulated?
- Entry barriers ( how secured a market would be if $2 companies start operating as a broker...

[COLOR="rgb(255, 0, 255)"]- What arrangements the regulator have to make sure clients of any broker will be covered in case of broker failure?[/COLOR]

SO on all accounts this "new" Binary broker model failes..
Yes it is true that some have gone through the scrutiny aof somebody like CFTC and have USA licence ( Nadex and Cantor)
I have been trading with CToption broker for a while and I have never faced any difficulties with them.
Just because you had no issues with this one does not mean the questions raised are answered by the hundreds of copy cat brokers fro many "questionable jurisdiction"
[COLOR="rgb(255, 0, 255)"]At the end of that day you are talking about an OTC product not a exchange traded product... do you get that?[/COLOR]
moka2 is offline   Reply With Quote
Old Aug 24, 2015, 5:51am   #326
Joined Oct 2011
there are many scam binary brokers, the same thing goes for forex, but there are legit ones, like optiontrade most probably i would rout for binary brokers affilieted with bigger forex brokers just for the sake of credibility. but its still hard to tell, its like a never ending struggle to decide which is which.
ph_trader is offline Software vendor   Reply With Quote
Old Sep 23, 2015, 6:57pm   #327
 
4 Posts
Joined Apr 2008
I use Dukascopy. Unlike Nadex/IG .. its a very simple put/call Fx contract,
One or two quirks.
1.The price feed is the same ENC feed /with same spreads as their spotFx tick.
2. Clients puts/calls are priced off the applicabe bid/ask from that feed, at execution. E$ normally 3.(on a 5 digitFeed)
3. if strike is same as entry ..you loose. Strike must be ITM.
4 Strikes are NOT at minute/hour end but 60 secs/5mins/60 mins FROM EXECUTION TIME.
5. Payouts of 90%
6. Minimum deposit 100 USD
7. Flexible contract size 1 to 1000 USD
8. Custom contract lifecycle 1 to 60 minutes
9.14 base currencies: USD, CHF, EUR, GBP, JPY, CAD, AUD, SGD, DKK, NOK, RUB, SEK, PLN, HKD
10 Clients’ deposits protection by the government (up to 20,000 EUR)
11. Finally, the quirk....there is a builtin 2 second delay from the Dukas OBtradeservers receipt of traders execution instruction, and actual execution. This clearly creates a risk for clients in the two seconds following a placement, when a spike tick can give trader either a better or worse entry to that which they clicked on. I understand its there to stop traders/bots exploiting a sudden spike with a fast click.
Ive never had any problem with redemption's in 8 years Spot trading with this broker.
Theres a demo. Try it. Though if your US based may not be eligible.
(nothing to do with regulation.. your IRS.. Swiss institutions dont want to know anymore.)
oidunno is offline   Reply With Quote
Old Sep 28, 2015, 11:56am   #328
 
kubek's Avatar
Joined Jan 2004
I don't see any reason why to use these "platforms" instead of IG/Nadex..at least IG is somehow regulated and can't just take your money and run.
kubek is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Binary Options D70 Futures & Options 16 Jul 22, 2013 4:17pm
binary options? doobs Futures & Options 34 Oct 30, 2012 3:35am
Binary Options neuhoff7 First Steps 2 Aug 27, 2012 1:27pm
Binary Options Analysis - Binary Options Report (Aug 8- Aug 12) SamTrader1 Forex 0 Aug 14, 2011 9:23am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)