CFTC and SEC issued a joint Fraud Advisory Alert about Binary Options

sun85

Private, 1st Class
Messages
27
I am planning to do the trading with binary option company.
I think I must read this post thoroughly before I decide.
Thanks for the information
 

mbreitfelder

1st Lieutenant
Messages
622
These two agencies should put out a Public Service Announcement...

"This is your wallet (full of cash), This is your wallet on Binary Options (empty wallet)"
 

oscarra

2nd Lieutenant
Messages
1,237
These two agencies should put out a Public Service Announcement...

https://financefeeds.com/cftc-seeks-impose-monetary-penalty-56m-binary-options-marketers/

Using fraudulent misrepresentations, the defendants induced people to deposit money with illegal binary options trading websites that purported to offer customers the ability to trade so-called binary options contracts online. The defendants acted as marketers for the following binary options websites: LBinary, Global Trader 365, Vault Options, TraderXP, Trade Rush, Banc de Binary, Citrades, OptionMint, OptionRally, RBOptions, Bloombex Options, Redwood Options, BeeOptions, Amber Options, OptionsXO, and SpotFN.

…and now what for the victims, at least on US side, as well those which were obliged to signed these fraud waivers just to recover some SMALL % and turn silent....

Lets see what will come up with GMM, one thing for sure, scamming of US citizens sounds far more massive then shown :oops:
 

mbreitfelder

1st Lieutenant
Messages
622
Bloombex is part of GMM, they are only going after the binary option companies from what it looks like. I would think that any signed document would be considered signed under duress.

If disgorgement, scammed gets paid, plus the ones who won profit.
 

oscarra

2nd Lieutenant
Messages
1,237
Bloombex is part of GMM, they are only going after the binary option companies from what it looks like. I would think that any signed document would be considered signed under duress.

If disgorgement, scammed gets paid, plus the ones who won profit.

Oh, gave up counting the numbers, think we seen some 180 brands involved with GMM

The 18.6m show as proceeds of the mentioned marketers Shah and Zilmil only, but what are the proceeds of these scammers since 2012……uff

Besides binary options, CFD’s are also illegal in the US, same scammer tool , the FBI might as well chase all :)
 

bigdolly

2nd Lieutenant
Messages
1,027
Oh, gave up counting the numbers, think we seen some 180 brands involved with GMM

The 18.6m show as proceeds of the mentioned marketers Shah and Zilmil only, but what are the proceeds of these scammers since 2012……uff

Besides binary options, CFD’s are also illegal in the US, same scammer tool , the FBI might as well chase all :)


What Binary Option name gave you the lesson? There are a lot of lessons ahead for those who get to know with forex, it really surprises me why regulators can't completely ban them?
 
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