EU letter about BINARY OPTIONS SCAMS

nitya

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16
If everybody will send this to their country leaders, something may be able to be done to stop all the binary options fraud. Please copy and paste...

To whom this may concern:

I am writing today to again call your attention to a highly disturbing fraudulent activity taking place on a global scale on the internet and within the financial world today. I am just a concerned citizen, and have only begun to research ways to earn money on the internet. During my, which has now been about 3 months of research in total over the last few years, I have come across countless extremely disturbing things, which I will explain here in details, in the hopes that you, the governmental bodies will do something to prevent further fraud; not just here in our country but within all of the EU.

Luckily, I have not been one to be scammed by these high profile criminals because I am very detailed and do my research before I undertake things. However, many others within Europe, and around the world, have not been so lucky.

To say the least, I am disappointed at the lack of government interference of what is happening on a large scale.

The governments seem to even know about these activities, and yet still are not doing anything to stop or change what is happening. I am writing and presenting to you these facts so that maybe someone, somewhere, will take this seriously and do something to make the necessary laws and regulations to stop these people.

I am talking about the endless scamming which is going on within the world of binary options, not only at the actual level of trading, but within regards to advertising the so –called reputable financial brokers, trading softwares and trading systems which have been designed and promoted heavily to do nothing but take our money.

Here is an example of a typical binary options web-site.

They claim they are going to point out scams to the people, to warn them to avoid those fraudulent softwares, brokers, or trading systems. Most of them have never tried the systems they claim to review.

binaryoptionsgorilla.com/michael-freeman-mike-signals-group-on-facebook-registration-page/#comment-919

So when you search another site, what is declared as a scam on this site for example, is declared as a huge money maker on another!

It is virtually impossible for the consumer to decipher what is real and what is not, what will cheat them and what will not, and who is telling the truth. It is impossible to tell!

Some of them are very obvious and give their intentions away. They have blogs and comments on the bottom of their biased reviews which of course, are filtered, so when someone who has gotten cheated by that web site comes back to make a negative comment or review, the owner of that web site deletes the comments so other new viewers will invest their money in what they are selling.

They are all designed this way. You have Binary Options Watchdog, Binary Options Guide, Binary Options Gorilla, this is three of the hundreds of them which exist. These marketers have branded themselves to sell binary options products and services, most of which will never earn anybody money, except those are selling it!

You can find them also on youtube making videos attached to their affiliate sales links.

Here is an example of one of the marketers who are reviewing one of the scam binary options products.



Some of the softwares and programs DO work, but only for the first weeks for the affiliate marketers selling them to convince the masses to sign up. So when the consumer signs up, they get a scam product which takes all their money.

These softwares are often designed to use, at their assigned scam binary options broker. And by “scam brokers” I mean, brokers which are unregulated, which have been known to take people’s money, and which have countless bad reviews and complaints online about them.

So in order to get this cheating software to work, the criminals who create them make business deals with the binary options brokers. So when you sign up, you then are “assigned” to an unregulated binary options broker.

In order to make the software work, you just turn on with a button and keep on, and your money will miraculously grow in the account, but not before you have to make the $200 or $250 minimum deposit to the scammy, unregulated broker. It is always a question if you deposit with some of these brokers if you will ever get your money back.

Of course a system where you just turn on a button and a binary options software just automatically makes you money is of course a total lie. But to countless people around the world, who struggle and fight for money and survival, this is highly appealing! And they do such a good job of selling it, you get convinced! Even when it defies your logic.

It seems that they make 3 programs of software, one which works which is given to the marketers so they will advertise and sell it to the people, and others which don’t work at all which the masses receive after they purchase.

This is massive criminality at its finest and it is totally unregulated and they don’t stop! They just come out with something new after it is considered a fraud by the majority of people! By that time they have already made huge amounts of money scamming people.

These web-sites are all supposed to have your best interest in mind, but really they only are out to earn marketing affiliate/sales commissions, based on if you will sign up with their unregulated broker which they promote shamelessly. We will get to how these brokers work a bit later.

The binary options brokers offers big money to those people who provide the affiliate sales links on their sites.

Let’s talk about Banc de Binary. They have just been fined 8 million dollars and have a court case coming up in a few months.

Here you can see one such web-site praising the affiliate program of a well-known scam broker.

7binaryoptions.com/banc-de-binary/banc-de-binary-affiliate-program

You can go online and research this broker and see how many people have complained about them over the last years. The complaints are endless.

One of these binary options marketers promoting brokers is named Michael Freeman.

If you search his name with binary options you will see that he is indeed “famous” online in the industry of binary options as everybody knows his name. But that may or may not be a good thing, depending on which site you visit.

Countless people oppose him in different binary options forum and discredit him as a well-known scammer, however, he continues to sell and rake in large amounts of money in sales from his products and services to promote binary option services and brokers tying people to people who are unregulated.

People question if he knows how to trade any binary options at all.

Whether he really is a scammer or not, one really cannot know, even after weeks of research. (I have tried). The only way to know for sure is if you try his product or software he promotes because all his competitors claim he is a cheater. Yet in contrast, you can see so many other sites support him and praise what he is selling.

Again, if they do in fact have 3 versions of the same software, how can anybody say it is a scam? Of course, where do you go to see if it is real and if people are talking about it? Youtube of course!

Here, is one such very heavily marketed product binary software which has been promoted online, which has been spoken about in countless places online to be a scam.

https://www.youtube.com/results?search_query=altronix+trading+app

The newest released heavily promoted autotraders are Copy Buffett, NEO2, and ICE9. These are softwares which require you to deposit money at the dodgy broker.

If you see here, the types of headlines these videos contain. This shows up when I type “binary options trading” into Youtube.

https://www.youtube.com/results?search_query=binary+options+trading

This is very attractive to people who have less money.

Here’s a typical scam product being advertised on youtube. They make it seem like you are going to earn thousands in a few days!

These headlines are promising big money to people who do not know how to trade. This happens all the time everywhere! Why are our governments letting this happen?



You see, the marketers within binary options all know each other. So one promotes their products, and then another promotes theirs and they both call the other scams. There is then no way at all for a consumer to tell what is good or reputable. Unless you risk your own money, which people are doing all the time.

After speaking with a few of your representatives from FI.se, and spending months on the computer researching how to find a way to earn money on the internet, I discovered these high profile crimes occurring, where thousands of innocent people are being scammed of their hard earned money, with very little prevention on the parts of the governments who are supposed to be protecting us.

They in turn are forced to search at forums like FOREX PEACE ARMY (one of the best around) to try to get information on if something is a scam or not. Other examples of these forums where consumers go are binaryoptionedge.com or binaryoptions.net

A quick look here will show you how people are making different posts asking others in order to determine if that binary options program or service is a scam or not! Shouldn’t our regulatory bodies be doing this?

forum.binaryoptions.net/categories/signals-robots-autotraders-etc

I have decided to write this letter as a plea to you to do something at the EU level in order to regulate and take action against the massive fraudulent theft which is taking place not only by the marketers but by so-called brokers as well.

Binary options is not simply gambling, by any means. I am not a trader, but just your average citizen who took to the computer to try to find a way to earn money from home. I surely do not have enough money to think of wasting money on trying to trade binary options at the point. I do not have enough knowledge.

It is quite apparent that to successfully trade binary options, knowledge of reading stock charts, trends, candlesticks, and other necessary stock market trading knowledge are most certainly required. Therefore, this is not your average gambling set-up.

But a fast search of “work from home” will eventually lead you to big promises of large money in binary options without any financial background whatsoever!

Yes, if you have zero knowledge of the basics of trading strategies, and you try to trade binary options it becomes clear your odds are no better than a toss of a coin and then it is nothing more than gambling.

However, because there are no such regulatory bodies, some “better” binary options brokers are registered at the gambling commissioners.

Yet even some of these have complaints by users on forums stating there have been price manipulations. Without a regulatory body to oversee these brokers, they can do whatever they want and suffer no consequences.

This should be recognized as a legitimate trading method, because you will fast lose your account if you do not know what you are doing, just as you would if you tried any method of trading in stocks, etc.

Here is a fast search I just made to show you that there are many reputable traders who use and teach binary options online.

https://www.youtube.com/user/InternetTimeMachine

Usually they will only go to such efforts as a way to promote their scam product or service.

Do not be disillusioned. With the right education and training in trading, the possibility to grow a binary options account is quite possible. There are several schools which are teaching the trading of binary options online. One of which I know is legitimate is trying to get the university to learn to trade binary options accredited within the UK.

The binary options brokers make money on the volumes of trades the trader makes. At payouts of 70% and losses of 100%, it also ends up being very profitable for a broker. For this reason alone, legitimate financial companies are interested.

However, in order even for a trader to break even, a minimum, depending on the payouts of the broker, must be somewhere around 58% or more wins. Clearly these odds show it is not merely gambling.

This is exactly the reason why hundreds of people have just opened their own financial institutions , calling themselves a “broker” with no other intention then to steal people’s hard earned money.

Please see this page here at the popular FOREX forum of all the people searching for information on brokers.

https://www.forexpeacearmy.com/community/forums/scam-alerts.30/

One well-known leader in the industry, a broker named SPOT OPTION, has a “software” which they seem to sell to just about anybody who wants to become a broker, which it seems from their site is supposed to make them regulated under CYSEC of Cyprus or at least connected to regulatory body in some fashion. According to their site, there are about 250 brokers who use their software to carry on trading binary options.

I have strong reason to believe that the software SPOT OPTION produces are designed to cheat and make the winnings go in favor of the broker. It is easy to decipher this when you log into their broker platforms.

There are weird delays, sometimes at the moment the trade is to expire, making your trade a losing trade. The software on your computer seems to have glitches, simple scrolling is difficult. It is as if you have the slowest internet service in the world.

But it is easy to see that it is not your computer, because other pages work perfectly. I believe this is the biggest scam around.

I would be willing to put money on the fact that most of the brokers using this Spot Option software are intentionally cheating traders.

I would do massive investigation of this company to determine how their platform is really designed.

Once the broker gets hands on the software, it is very easy to code it so that the trader is losing more and the broker is winning.

You can see proof of price manipulation at most of these scammy brokers, which traders have shown in videos and in forums.

This is outright stealing and nobody is stopping them.

All it requires is someone to take the time, as I have, to see how bad it really is.

These brokers manipulate prices, manipulate the platforms to go in their favor, do not give back their deposit money, and sometimes will delete the money they earned fairly, and the trader is left with nobody to assist them.

And it all started because they wanted to try to earn some money online.

I even read horror stories of how one very popular unregulated broker just one day had a “technical glitch” and the high balances which the trader had grown fairly, simply was deleted from their account! WHOOPS! One moment and its all gone! Who will hold them accountable for grand theft?

The people who we rely on to make laws and protect us are doing absolutely nothing. And we can say that European culture is civilized?

Even in Australia the ASIC is regulating some legitimate brokers.

You are probably wondering why I would spend my time writing this. Well it is because I am an idealist, and I do not like to see such unrighteousness happening in the world.

Something needs to be done about what is happening.

I would like to invite you to visit the forums I have shown you here and really investigate what is going on. You will see how many people are losing money unnecessarily because these criminals are not being prosecuted. A new binary options broker pops up all the time!

If you all knew more, you would not hesitate to do something immediately.

I request you to please do thorough research like I have. Show this to the regulatory bodies within EU and make binary options regulated with the EU.

It is not fair to all the people who are losing huge amounts of money to unscrupulous, dishonest people. Please do something.

Thank you for your time.
 

nitya

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16
Thanks sofaking...I really hope that people will send this to their country financial board. Each country in EU has its own financial regulator.
I spoke to mine on the phone...He said, oh yes, there is a lot of discussion at the high level but nothing has been done.
So if we all can send these types of letters, then maybe they will take action to do something.
Surely you can easily find your countrys web site and email. Just copy and paste what is above.
It only takes 5 minutes...
I hope others will do it also.
 

Pharaoh

Colonel
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20,181
Copy and paste is a mistake. Once the same person who opens the complaints sees 2 or more identical ones, all the others coming in will have virtually no additional impact.

Borrow ideas from the first post in this thread, but put it in your own words. Include details of what happened to you. Doing that will take you and extra 10-20 minutes, but will result in your message being 10 times more effective than sending one of many exact duplicates of another person's message.
 

nitya

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Yeah Pharoh you are right, but actually how many people are going to do this?
People are too absorbed in their own lives to think about the lives of others...Sorry but that is truth.
Its not like the offices will be bombarded with these letters.
We will be lucky if a few people send it...
So however they wish t send it is fine with me...as long as they send it! I suggested copy and paste because I really wonder how many will even do this...even if the information is there in front of them.
If I had the time I would make a list of all the finanical boards of europe links and emails...but only if I knew this would be a sticky thread...and i wouldnt be wasting my time.
Do this people! Take a few minutes and send this...
 
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