It is time for FPA to state the truth regarding BOs

[TCentral]

It is time for FPA to state the truth regarding BOs at the first place:
This is off market unregulated BS, based on regulation from all off shore Islands - Cyprus in the EU is the scary one MIFID - etc ... come on investment compensation fund and so on .....people do not get on the market, no real fills, people get to deal with absolute scam and manipulated prise entry and expiery of their options!!!!!!!!!!! please FPA , stop play the honest one... if you know exactly wtf is goin on out there !!!!
Lets go further on, CySec, all BVI, Belize....and so on regulations....
Lets go to the next level - all this companies are true Ponzie and based on one main company, Spot Option - they give them for close to 50.000 the following tools to scam the world for 30% up to 50% of all scam in their pocket ....and all of you naive people crying here on this forum -
The Spot Option- 2 platform- the CRM , the back office, the payment processing.....all of this supported by something called CySec ....full and absolute corrupted authority ....( please check Iron case)
it is rediculouse to claim ....you are being scammed after you have out there such companies live and running, it is simple you trust their REGULATION....most naive people do so ....and there is the problem ....so....ABC explanation to all of you including FPA beside keep quiet so long you guys do not really state the truth ....shame on you indeed .... Get up and you stop make money again using the problems of others ... when you know wtf is out there at the first place ....

 

[Pharaoh]

Did you bother to look around the FPA before making such bizarre claims?

Cysec sucks. This is well-known and well publicized at the FPA. It has also finally showed some signs of improvement, which should be applauded.

If you hate Belize, why is there a Belize address on your company's homepage? How many threads calling the Belize regulator virtually useless does it take to qualify in your book to have warned people.

Spot Option is the dominant back end for binaries, but not the only one. Are you proposing the FPA call a broker a scam solely because the backend offers the capability to cheat? If so, the same would apply to the MetaTrader backend.

Please learn what a Ponzi scheme is before throwing the word around as a generic replacement for "financial scam". The bulk of the scam binary companies promise high returns and never send ANY money back (a few will process one or two tiny withdrawals, only to build confidence for larger deposits). A well run Ponzi promises high returns and makes them like clockwork for an extended period. Any profits are just money stolen from later investors. Most BO scams don't want to go to this effort. I've never heard of one making regular timed payouts of profits generated by their employees trading on behalf of customers.

If the FPA is somehow hiding the truth that the vast bulk of BO companies are scams, how do you explain all the scam labels the FPA has handed out against these companies? How do you explain this article, which has been stickied since the middle of 2013?

https://www.forexpeacearmy.com/comm...ud-advisory-alert-about-binary-options.25577/

Let's say there's 1 binary broker which realizes that only making 80% payouts on winning bets is a gold mine without any need to cheat? After all, there are forex brokers happy to collect spread and/or commission to make their money. Should the FPA label that binary broker as a scam before a single complaint comes in? A broker might be able to slip a few fake positive reviews past the FPA, but it couldn't do anything to prevent real negative reviews from being submitted or approved. What would the FPA do if the broker kept getting 4 or 5 star reviews and NO complaints about withdrawal issues or the other methods of abuse that dominate the binary industry? Just like an online casino, it is hypothetically possible to have an honest and profitable BO company. Unfortunately, the vast bulk of the industry is based on pure theft.

If the FPA is trying to help binary companies, why did AsstModerator just do a mailout about class action lawsuits against 5 brokers, 4 of which are BO (plus IronFx)?

https://www.forexpeacearmy.com/comm...ction-lawsuits-against-several-brokers.44762/

If you want to be helpful, point victims to lawyers. Give victims info on doing chargebacks and refer them to professionals if they can't do it themselves. Point victims to review pages so they can make sure others can see the warnings. Help advise victims on getting Traders Court cases filed so that the brokers can get their well-deserved scam labels faster. Help educate people that, at best, BO is nothing but gambling with the odds stacked heavily in favor of the house.

Or, waste time making up and posting conspiracy theories. This will distract victims from utilizing FPA resources to get advice on how to take action against scam brokers. That's exactly what the scammers want to see.

 

[oscarra]

The Spot Option- 2 platform- the CRM , the back office, the payment processing.....all of this supported by something called CySec ....full and absolute corrupted authority ..

So what’s the solution…..Pharaoh inciting all members to storm the next IFXEXPO MEETING
http://www.ifxexpo.com/attendees

 

[TCentral]

Did you bother to look around the FPA before making such bizarre claims?

Cysec sucks. This is well-known and well publicized at the FPA. It has also finally showed some signs of improvement, which should be applauded.

If you hate Belize, why is there a Belize address on your company's homepage? How many threads calling the Belize regulator virtually useless does it take to qualify in your book to have warned people.

Spot Option is the dominant back end for binaries, but not the only one. Are you proposing the FPA call a broker a scam solely because the backend offers the capability to cheat? If so, the same would apply to the MetaTrader backend.

Please learn what a Ponzi scheme is before throwing the word around as a generic replacement for "financial scam". The bulk of the scam binary companies promise high returns and never send ANY money back (a few will process one or two tiny withdrawals, only to build confidence for larger deposits). A well run Ponzi promises high returns and makes them like clockwork for an extended period. Any profits are just money stolen from later investors. Most BO scams don't want to go to this effort. I've never heard of one making regular timed payouts of profits generated by their employees trading on behalf of customers.

If the FPA is somehow hiding the truth that the vast bulk of BO companies are scams, how do you explain all the scam labels the FPA has handed out against these companies? How do you explain this article, which has been stickied since the middle of 2013?

https://www.forexpeacearmy.com/comm...ud-advisory-alert-about-binary-options.25577/

Let's say there's 1 binary broker which realizes that only making 80% payouts on winning bets is a gold mine without any need to cheat? After all, there are forex brokers happy to collect spread and/or commission to make their money. Should the FPA label that binary broker as a scam before a single complaint comes in? A broker might be able to slip a few fake positive reviews past the FPA, but it couldn't do anything to prevent real negative reviews from being submitted or approved. What would the FPA do if the broker kept getting 4 or 5 star reviews and NO complaints about withdrawal issues or the other methods of abuse that dominate the binary industry? Just like an online casino, it is hypothetically possible to have an honest and profitable BO company. Unfortunately, the vast bulk of the industry is based on pure theft.

If the FPA is trying to help binary companies, why did AsstModerator just do a mailout about class action lawsuits against 5 brokers, 4 of which are BO (plus IronFx)?

https://www.forexpeacearmy.com/comm...ction-lawsuits-against-several-brokers.44762/

If you want to be helpful, point victims to lawyers. Give victims info on doing chargebacks and refer them to professionals if they can't do it themselves. Point victims to review pages so they can make sure others can see the warnings. Help advise victims on getting Traders Court cases filed so that the brokers can get their well-deserved scam labels faster. Help educate people that, at best, BO is nothing but gambling with the odds stacked heavily in favor of the house.

Or, waste time making up and posting conspiracy theories. This will distract victims from utilizing FPA resources to get advice on how to take action against scam brokers. That's exactly what the scammers want to see.

Thank you for your answer,
reading it, it is nearly a complete answer regarding the current situation., but it doesn't help the folks to really learn and stop loosing money out there ...
With you power, really the best website online, you Mr Pharao and your team, should post the following statement - what are BOs , how are this platforms made, there is no Liquidity, there is no market ....BOs are in house game against the BO - Broker ...
and so on ...why is everyone afraid to write about this huge scam ....
SpotOption ,TechFinancial, TradoLogic...and such ...so called based on trading software, connected with payment providers and P2P bookings like Save Charge ....all this companies ... give not only the platform but the complete solutions to scammers ....
BDB, Mr Laurent...or Mr Elad of 24 Option ....the point is ....not to save this people after they are burned and lost their life ...the point is rather to help stop all this JUNK so my 5 cents ....post the truth regarding BOs then if people are crazy enough , to put their life savings ... let them do ... but you told them at the first place what are BOs and who are they against ...
The only BOs atm is Nadex - USA ....the only BOs, that make sense ...
Again, Thank god there is FPA ....and I know your work is even now saving manypeople from scammers ...

Regarding me and my website ....I offer there Interactive Brokers and Global Prime....I would never offer anything else , I simply respect myself too much, I would never bring a client or a person to a sloughterhouse ....Again , I am too long into this, I know the companies better then u think...I worked for many ....and yes, I trade not here in Cyprus and I dont trust anyone regulated from CySec or FCA - UK jokers.

 

[AsstModerator]

TCentral

It is too bad you got yourself banned for promoting your services in an education folder.

The FPA has been warning against specific binary companies and binary options in general for years now. I would love to know how the FPA could do more than marking binary broker after binary broker as scams and putting warnings on the review pages of many other binary brokers. The CFTC has it's own warning against Binary Brokers, which I reposted and stickied at the FPA. Should we blame the CFTC for failing to intercept every potential binary customer before a deposit is made?

The FPA can and will continue to warn against all forex scams and all scams posing as forex. If someone gets a cold call from a scam company, the FPA has no power to make that person run a simple online search for the company's name. The FPA saves many people before they fall victim to scam, but it does require the potential victim to check online first.

The FPA could mark all binary companies as scam. I have chosen not to do so for 3 reasons...

First, although the majority of binary companies appear to be scams, it is possible to run a binary options company honestly and profitably. Some people want the FPA to mark all forex market makers as scams. The truth is that a forex market maker can also be run honestly and profitably. Some forex market makers are not scams.

Second, since most people who are scammed only come to the FPA later, there would not be much point of marking a company as scam before real complaints come in. Some people still send money to brokers which were marked as scams by the FPA years ago. They only come to the FPA when they start having problems.

Third, this week had 6 Traders Court cases. Two of the ones against binary options companies were resolved before the voting ended. If I had just gone and marked all binary options companies as scams, then those company would have much less motive to try to resolve complaints brought at the FPA. That same set of votes resulted in 2 other brokers getting Scam labels. I believe this shows that the Traders Court really does work.


The FPA has saved many people from placing money with scam companies. The FPA is actively helping people get their money back via Traders Court, chargebacks, and legal assistance. Your complaints appear to exist only to help get you prominence within the FPA. I believe your real intention has nothing to do with protecting anyone. I believe you really wanted to use your anti-FPA statements as a springboard to sell your own services to FPA members. Based on this, I am moving your thread to the Forex Insanity folder.