Binary Options Con/Scam

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
 
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, 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
 
You should trade only with FCA ( UK ) or ASIC ( Australia ) regulated [Link removed] binary options[/URL] brokers.
 
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Binary options trading is the newest way of making money online but like in the case of anything that’s new, people still aren’t completely sure that it’s 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 (Trading is not a scam.. the brokers, or service providers could be that is the point) 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...

- What arrangements the regulator have to make sure clients of any broker will be covered in case of broker failure?

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"
At the end of that day you are talking about an OTC product not a exchange traded product... do you get that?
 
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.
 
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.)
 
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.
 
Lol,

What do you mean binary options aren't for everyone? They shouldn't be for anyone. Unfortunately beginners get sucked into it. binary options are by definition a scam.

Binary options are the equivalent of gambling. In fact the returns and payout for binary options companies are exactly the same as casino. Even if you were to look at best odds of 50:50 winning (which its not) platforms boast "up to 70% returns!" Which doesn't make sense at all - that means on a $100 trade you are risking $100 to only make $70 back.

Traders need to understand that it's not only about your % of winning but also your risk/reward ratio which is completely off in BO.

In the long run you will lose all your money in binary options trading. This is a mathematical fact.

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
 
Binarys are the first way many wannabee traders get into trading ...........they are relatively simple to understand (like betting black or white in roulette) and will bleed you slowly.......

I cannot recommend enough people moving swiftly on to the next level and learning to trade for real.........its the only chance you will have to make money trading

N
 
As always guys, you should really try to stick to regulated brokers authorised by the FCA (if your located in the UK). Otherwise you have no control over where your deposits are located and you will not benefit from the many advantages of the State Compensation Fund.

If you want more info, you can have a look here Link Removed/
 
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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.

Agreed with this as its really hard to distinguish between good ones and bad brokers these days but i was thinking does this brexit event affect EU binary brokers registered with FCA?
 
What you people fail to realize is this:
1. in the world of binary options, for better or for worse, if a trader wants a bonus - he must agree to this lock in period. Again, whether it's right or wrong - it's irrelevant. Customer can either agree to take it or disagree and NOT take it.
2. Jaga DID accept it
3. Jaga took the deal
4. He lost 2k of his money
5. Didn't like losing and preferred to cheat his agreement with this broker

Now, why am I angry at this idiot
1. He lied to me in an attempt to have me publish this nonsense
2. He forged documents and transcripts
3. He is claiming that it wasn't a bonus but that the broker decided, cause their just that nice, to give him free cash for his own personal use and available to be withdrawn - just for the fun of it
4. He carried out a spam attach against me personally on numerous forums and with no merit or basis

What I am further upset about is Liquid and Pboyles justifying this twobit thief
Well, justify it with the use of this pathetic argument of "virtual offices"
I don't think one cancels the other. You can see on []binary options australia[/URL]. Nor do I think it has any merit in this conversation

But if that's the issue that still really bothers you and you want an answer, you got one from Adam - but that's your business - not mine

Well the period of bonuses is over now. Cysec brokers are not allowed to offer any more bonuses.
 
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