What you did not know about Binary Options and why it is a scam

[Zuga]

So we did an extensive editorial that covers the topic of binary options and why we believe it to be a deliberate scam: https://latestcasinobonuses.com/news/editorials/10946-insight-on-a-true-online-scam

 

[Shay]

Definitely a scam - nothing more (it is not "investing")... Well done on the extremely extensive editorial.

 

[Zuga]

thanks Shay. Now I wish iGB would get rid of the binary/forex . getting really annoyed by their aggressiveness at these conferences. Its a slim chance tho too much money involved..

 

[dfiocch]

Definitely a scam - nothing more (it is not "investing")... Well done on the extremely extensive editorial.

True, it's not investing. Never been. It's just an high, very high risk "gambling".

Thanks Zuga for the editorial.

 

[gamingaffiliatesguide]

We agree ...

http://gaffg.com/blog/removing-binary-options-and-forex-from-gaffg/

 

[Zuga]

So bottom line is, Binary is anything but trading and definitely cannot be considered as "investing". Plus, and as gaffg.com also mentions at the link above, if it happens that you actually win you will probably not get paid by some of the Israel based programmes. Reference : http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/

 

[dfiocch]

So bottom line is, Binary is anything but trading and definitely cannot be considered as "investing". Plus, and as gaffg.com also mentions at the link above, if it happens that you actually win you will probably not get paid by some of the Israel based programmes. Reference : http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/

Ahah!
"He" is coming, you know?

 

[Zuga]

Ahah!
"He" is coming, you know?

hehe well the facts are facts. And I am quoting a prominent Israeli online edition.

 

[Kadabra]

it's a scam cause a lot of people take it as investing. Btw, forex can be different (I know you referred only to Binary, but it was mentioned by others).

Forex is just about leverage, of course the problem that many take x100 leverage thinking that that is the way to make a quick buck and naturally loose it all, but using 100% leverage can be quite profitable.

 

[jiriprochazka]

I'm trading binary options more than 2 years and I'm profitable. It's not as easy as you can read everywhere. There is a lot of scam brokers and scams like "you will make 1000 dollars a day" that's shit.

BTW: binary options are financial tool

The Office for Gambling Control then started a lawsuit on to what category binary options actually belong to, because they don’t agree with the fact that binary options are considered a “game of a chance”. The court has decided with (we hope) full EU legitimacy that the results of binary options trades are not based on chance and that’s why binary options need to be looked at as a financial tool, rather than gambling.

 

[TheGooner]

...

BTW: binary options are financial tool.

No - they are not financial "tools".
While the underlying market is financial (shares, indexes, currencies) the actual binary options bet is nothing more than a zero-one gamble on the short term direction of the security.

Binary Options are gambling on pseudo-random financial patterns with poor payouts for 99.5% of people.

 

[Keith Williamson]

Hey Guys & Dolls long time no see and hear from me!

After reading the above about how you understand about Binary Options and how it evolved comes from the casino industry and I am speaking about the many thousands of people who play slots. Binary Options is simply a financial market take on slots and nothing else. The odds are the same and its just another game for thrill seeking punters to enjoy losing their well earned booty and on occasion winning some back. When you talk about Binary Option brands that are scamming their players its risk we all take across all niches in the Online Igaming Industry. Stick to fully regulated brands and ones with a good track record for openness & transparency for their Affiliates & Players and we shall all be happy people!

 

[gamingaffiliatesguide]

I don't think gambling and binary options can and should be compared. Yes maybe there have been some casinos that have ripped off players or softwares that have rigged some games, the warnings that are coming out for binary options are hard to ignore.

https://en.wikipedia.org/wiki/Binary_option

From the wikipedia page

"Though binary options sometimes trade on regulated exchanges, they are generally unregulated, trading on the internet, and prone to fraud.[3] The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have issued a joint warning to American investors regarding unregulated binary options.[4] and have forced a major operator, Banc de Binary, to cease operations in the US and pay back all customer losses. Many binary option "brokers" have been exposed as questionable operations. With such binary option brokers, there is no real brokerage; the customer is betting against the broker, who is acting as a bucket shop. Manipulation of price data to cause customers to lose is common. Withdrawals are regularly stalled or refused by such operations.
"

This is another bad article
http://www.timesofisrael.com/israel...s-fraud-disgusting-ruinous-to-our-reputation/

 

[AussieDave]

A CEO of a Casino Group, who recently aquired more casinos, was previously the CEO/Owner of a Binary Options site, which targeted UK traffic.

Seems there were a number of police reports regarding fraud against this Binary site. Subsequent court proceedings were lodged. However seems nothing happened. Probably due to the fact this person was not in the UK; even though this entity held a UK company registration. This CEO also has another company, which claims it's consulting for this Casino Group, where he's now the CEO...lol

You have to love this industry, it's full of crooks!

Edit: Yes I'm being vague on purpose. I'm not about to release details. If your a smart pirate, you'll decipher this map, and start digging for the treasure

 

[AussieDave]

The link that GAG added, (excellent read btw)... In that article was a link to, The Wolves of Tel Aviv.
It's just not Binary Options that these wolves have been feeding off for the past Decade...just sayin.

 

[TheGooner]

Thanks for reporting that link - I missed it in the original report.

I agree it's a very good article that nails the coffin on the argument the "Binary Options is a legitimate financial investment" ...
This article clear shows it is nothing more than gambling - and that many of the Israeli firms running it actively FIX the results.

A must read for any affiliate or player who thinks getting involved in this scam is a good idea - IT IS A SCAM - PURE AND SIMPLE
http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/

 

[Rick Perry]

So it means that whole stock market is gamble, right?

 

[gamingaffiliatesguide]

investing can always be a gamble but at least the stock market is regulated and it seems these regulated trading bodies want nothing to do with binary options.