BeeOptions Verification

[peacemaker09]

Please is Beeoptions broker trust worthy?please can someone help me to check thanks

 

[Pharaoh]

Did you check the reviews? BeeOptions.com Reviews and Ratings

You really should read this:

https://www.forexpeacearmy.com/fore...raud-advisory-alert-about-binary-options.html


Have you considered that it would be virtually impossible for a binary broker to have a liquidity provider? This would mean that your losses are the broker's gains and your gains are the broker's losses. 100% of the broker's expenses would come from your losses.

If you want to gamble in a casino, go to Las Vegas. The house edge is smaller and the Nevada Gaming Commission is there to ensure that all players who win get paid.

 

[goose]

Pharaoh, please explain. I am struggling to understand. When I asked my account manager at Bee, he said BeeOptions is the middleman to the bank. Which bank? Depends on the asset, he said. He said the trades happen on the SpotOption Exchange, with all the other platforms on that exchange. So I googled. SpotOption Exchange claims to be liquidity provider to their many "white label" platforms, like BeeOptions. They also claim affiliation with other liquidity providers. "SpotOption is partners with top liquidity providers such as Reuters, Bloomberg, Leverate and others, which allow our white labels access to live feeds from the most reliable sources." My account manager says that he, and BeeOption make money only if their clients make money. (Otherwise, he laughs, they would hate us both and he would get fired!--After fabulous NFP announcement winnings this month.) In this vein, he will not be called a broker, as he doesn't get a fee per transaction, win or lose, but rather makes his money from my wins. (He is also not a broker because he doesn't trade my account directly, but only advises me what to do.) So I was coming to the conclusion that some platforms are bucket shops/casinos, and some are plugged into one of these big exchanges like SpotOption Exchange. But you say, no, all platforms work on a house/casino model......

If you can spare a moment for my ignorance, and give me some basics, I'd be so grateful:
In traditional options, aside from real assets being attached in a real way to those bids (not just bets on up or down), the bids are flying around the NYSE or the Mercantile Market, or some other exchange, which provide liquidity. Traditional brokerage houses make their money on transaction fees? But everybody likes big, fat accounts in their house, I imagine that somehow feathers their nest, as well....

So much to learn, I hardly even know what it is that I don't understand.

 

[larz]

In my opinion, since BeeOptions makes money from your wins, this broker has a similarity to Market Maker Brokers. Actually, it is making money from your loses. The broker is sitting on the other side of the terminal, and pretty much trades against you. I can say that these type of brokers are unregulated.

If the broker is an ECN broker, the only way they can raise money is on commissions and transaction fees. This fee is not different from what you pay when buying or selling stocks. From my personal experience of the Commission are negotiable and you can quote a broker for another bid the lowest commission.

 

[Pharaoh]

Pharaoh, please explain. I am struggling to understand. When I asked my account manager at Bee, he said BeeOptions is the middleman to the bank. Which bank? Depends on the asset, he said. He said the trades happen on the SpotOption Exchange, with all the other platforms on that exchange. So I googled. SpotOption Exchange claims to be liquidity provider to their many "white label" platforms, like BeeOptions. They also claim affiliation with other liquidity providers. "SpotOption is partners with top liquidity providers such as Reuters, Bloomberg, Leverate and others, which allow our white labels access to live feeds from the most reliable sources." My account manager says that he, and BeeOption make money only if their clients make money. (Otherwise, he laughs, they would hate us both and he would get fired!--After fabulous NFP announcement winnings this month.) In this vein, he will not be called a broker, as he doesn't get a fee per transaction, win or lose, but rather makes his money from my wins. (He is also not a broker because he doesn't trade my account directly, but only advises me what to do.) So I was coming to the conclusion that some platforms are bucket shops/casinos, and some are plugged into one of these big exchanges like SpotOption Exchange. But you say, no, all platforms work on a house/casino model......

If you can spare a moment for my ignorance, and give me some basics, I'd be so grateful:
In traditional options, aside from real assets being attached in a real way to those bids (not just bets on up or down), the bids are flying around the NYSE or the Mercantile Market, or some other exchange, which provide liquidity. Traditional brokerage houses make their money on transaction fees? But everybody likes big, fat accounts in their house, I imagine that somehow feathers their nest, as well....

So much to learn, I hardly even know what it is that I don't understand.

The last time I checked, Bloomberg and Reuters provided price feeds gathered from banks and didn't actually provide liquidity.

Yes, LPs make money on transactions - but only if there's a real transaction. Binary options evolved from sports betting and other forms of online gambling. Arr there LPs that pay/collect flat fees based on which horse wins a race or whether the roulette ball lands in black or red? I think not.

Even the UK FCA refuses to allow BO brokers to register (except by useless "passport" registration from other countries) because binary options is not a financial trade, but a gambling wager with fixed returns independent of how far the market moves.

Imagine you are an LP. Some broker comes to you and says "For my clients who go long, I want you to pay 85% of their bet if they are right and collect 100% of their bet if they are wrong. I want these fixed amounts to happen whether they are right/wrong by 1 pip or 1000 pips." That's a lot different that a forex broker coming to you and saying "I'll pay you 10 per round turn lot to take the opposite side of client trades. Then you collect client losses and pay wins based on what really happened in the market.

So, again I haven't seen a real world example of a genuine LP. Maybe SpotOption covers their clients, but I doubt it. If there were real LPs, we'd see a lot more binary brokers using some mode other than deposit-only.

Like Agent Mulder, I want to believe in UFOs - but I'm not risking any money on it until I meet a real-life alien. If you want to believe in LPs for Binary Options without solid proof that one exists, it's your money to throw away. I think you'd have better odds of making and withdrawing money by believing in a well regulated forex broker which list major banks as LPs.

 

[WatanFX-Rep]

Pharaoh, please explain. I am struggling to understand. When I asked my account manager at Bee, he said BeeOptions is the middleman to the bank. Which bank? Depends on the asset, he said. He said the trades happen on the SpotOption Exchange, with all the other platforms on that exchange. So I googled. SpotOption Exchange claims to be liquidity provider to their many "white label" platforms, like BeeOptions. They also claim affiliation with other liquidity providers. "SpotOption is partners with top liquidity providers such as Reuters, Bloomberg, Leverate and others, which allow our white labels access to live feeds from the most reliable sources." My account manager says that he, and BeeOption make money only if their clients make money. (Otherwise, he laughs, they would hate us both and he would get fired!--After fabulous NFP announcement winnings this month.) In this vein, he will not be called a broker, as he doesn't get a fee per transaction, win or lose, but rather makes his money from my wins. (He is also not a broker because he doesn't trade my account directly, but only advises me what to do.) So I was coming to the conclusion that some platforms are bucket shops/casinos, and some are plugged into one of these big exchanges like SpotOption Exchange. But you say, no, all platforms work on a house/casino model......

If you can spare a moment for my ignorance, and give me some basics, I'd be so grateful:
In traditional options, aside from real assets being attached in a real way to those bids (not just bets on up or down), the bids are flying around the NYSE or the Mercantile Market, or some other exchange, which provide liquidity. Traditional brokerage houses make their money on transaction fees? But everybody likes big, fat accounts in their house, I imagine that somehow feathers their nest, as well....

So much to learn, I hardly even know what it is that I don't understand.

Spotoption is not an exchange. It is a financial gaming software company.

Spotoption is pretty much like Playtech, which makes software for the slot machines, you see present in many casinos.

The world should be thankful none of the large banks have not picked up binary options to sell to their customers, else BOs would have been very legal in the financial system.

 

[tranle447]

Beeoptions has been warned as a scammer by The Australian regulatory body ASIC . Please stay away from BeeOptions .

https://www.moneysmart.gov.au/scams/companies-you-should-not-deal-with/unlicensed-companies-list/b

 

[larz]

Beeoptions has been warned as a scammer by The Australian regulatory body ASIC . Please stay away from BeeOptions .

https://www.moneysmart.gov.au/scams/companies-you-should-not-deal-with/unlicensed-companies-list/b

Tranle447 nailed it. Beeoptions is unlicensed in Australia. https://www.moneysmart.gov.au is a legitimate website and has verified that BeeOptions is a scam.