Binary Options Regulated and Scam Brokers

[Joa]

I feel pity with all the people here losing money and being lost when searching for entities that may not be suitable to partner up with.
I stick with my opinion: DO NOT EVER ENGAGE WITH COMPANIES REGISTERED ON CYPRUS OR IN ISRAEL, GIBRALTAR, MALTA, PANAMA, THE SEYCHELLES, BELIZE and similar places!!!!!!!!!!!!!!

Here is the link to the CySec about the worst of the worst - so even the CySec is warning about them (a rare event)!!!
Take a look:

Cyprus Securities and Exchange Commission

Joa

 

[Joa]

First
You must check WHO owns the website by doing a Whois search on the net.
You can scroll down to the bottom of a particular website - and in many cases it states who is the operator/owner of that.

Second
You check with the register of the CySec whether this is a REGULATED entity. The list contains all actual companies that are licensed - which does not mean much on Cyprus as we all know. The list states as well whether the company's license was revoked or suspended (as is the case with EZTrader/WGM)

You find the CySec register at this link:

Cyprus Securities and Exchange Commission

Again and again: Do NOT sign up with ANY entity on Cyprus or in Israel. You're going to lose your money - and your shirt, too

Joa

 

[Joa]

It makes me sick about all the people here who simply are not doing their due diligence.
How can an "account manager" decide about funds held in clients account? HE must decide?????????
What has this world come down to?

Doesn't anyone care about their money........ ????

 

[sun85]

I see many senior members (and forex traders) in this forum strongly NOT recommend binary option.
Therefore, I will just focus on pure Forex Trading for my first live account with my hard earned money. lol..

 

[Joa]

The trouble with anything and everything here on the FPA website AND with all the parties here complaining:

A) A "to do list" BEFORE you even start engaging with a company is not at the top or *Sticky* for everyone to read and see
B) It's not helping any of us small guys in the Shark pool of Forex and Options "Brokers", when AFTER the fact everybody is complaining and screaming SCAM
C) In more than 90% of all cases, the fraud or scam could have been prevented - if members just had read a few posts and checked the scam folder.

I've tried to take it upon me to warn people, I've tried to give it a shot at making a TO DO LIST and posted even the mechanics of the scam perpetrated by con-artists.

It's not difficult to use some common sense - and even easier it is to ask for information where there is none, getting advice from people who've been in the business for decades is not shameful.

We all want to make a dime or two, nothing wrong with that. But it borders on stupidity when it is done just because some criminal is contacting you and promises the blue from the sky, or when you click on a link that comes from someone who makes a killing through an affiliate program, where all they do is rob you of your money.

PREVENTION is what needs to be done. But apparently NOBODY has any interest in such a thing.

Prevent the crimes and scams - and educate the people and ask them to do their homework.

Greed has never helped anyone - except the fraudster who play to exactly that, and in the worst cases they create dreams that were not there before and use that to make you lose your shirt, and your shoes, too

 

[Joa]

... and with respect to Forex, and how correct and nice it is and that one can run longterm and using stops:

If anyone needs proof of how rigged the market really is should watch the screens intensely all day long.

Just realize what happened right now:

BEFORE all afternoon (GMT) the EURUSD went strongly up, a clear 160 pips (1600 points) from bottom to top, all based on news from the ECB and the Unemployment figures out of the US - so far it could make sense. It went on hour after hour. A clear trend if you like.

But then: As soon as the European business hours ended and banks and brokers had left the market and only the Hedge Fonds in New York were around at 12:30 PM EST, with the Gong the price was moved out of nowhere 60 pips (or 600 points) down in a matter of SECONDS from 1.2420 down to 1.2360.......

So NOBODY here ever tell me again, that it's all perfectly well and pretty with Forex and that the Binary Options are fraud and deceipt only. In my opinion, such moves are fraud, too. The little guys get taken to the cleaners.

The markets are rigged. One way or another and that includes FOREX, like it or not. You will be taken to the cleaners if you don't pay attention

Joa

 

[Joa]

Just in case you think that what you see on screen is what you get.....
This is thin markets of course..... still it proves my point....
The line in your tick chart is NOT a line... it's just connecting dots.....
The reality looks this way (and that's not even the worst....)

 

[hoover]

A persons complaints are what get some "companies" highlighted and stared in your step "A" Yes some peapals complaints are nothing more then someone venting their frustration abought loseing. All countries have their own federal trade laws and if peapal look into them they would find out who is in the right or wrong and if any "redropution" is there for them to have. I am from Canada and most provinces have there own laws abought dealing with such matters. As far as your suggestions or tips; they are not falling on def ears. Someone from banc de binary called me 2 hours ago trying to give me a sales pitch abought their company. Because of your suggestion abought Cyprus, and Isreal, I quickly declined. Two years ago I didn't, it took me half a year to get my money back. I have also declined other sales pitches from others as soon as I found out where they were from and declined their offer and politely told them not to call again and hung up the phone. I have no idea why banc de binary called, they have already "Black Listed" me, mind you I did mention tis in the conver sation with the ladey from banc de binary this morning. I don't thing I was ever told "good by" and hung up on that fast,it was kind of funey. Your information and advice is not falling on deff ears and is greatly appreciated. Thank you.

 

[Joa]

Here is another educational link for all those that really care about conducting some form of due diligence
If anyone claims to be registered in the UK... check here:

Financial Services Register

 

[Pharaoh]

Every trading market is "rigged" to at least some extent by the largest players. I can buy and sell all day and not create a ripple. If some big bank decides to swap 10 billion in one currency for another, that makes waves.

One difference with binary options - they are NOT connected to the market. The 50 richest people in the world could put all of their money into binary accounts and all go long on the EUR/USD at the same moment and the forex market would never know it happened.