Sleaziest of Sleaziest: Overseas online FOREX Currency trading companies (scams)
Sleaziest of Sleaziest: Overseas online FOREX Currency trading companies
Below is a 'rough' report on a 5 month ongoing study of overseas binary options (FOREX) trading companies, as well as Forex.com - the online U.S. based Foreign Exchange - currency trading company.
IF YOU WANT AN HONEST/TOTALLY REGULATED FOREX Currency trading company to trade - you will have to go to either the U.S. based FOREX.com (NFA ID: 0339826) or NADEX.com.
File any complaints against U.S. FOREX companies at both the states attorney general's office in the state they are located, and at http://www.nfa.futures.org/. Trades at Forex.com are very quickly initiated and very quickly closed out. The trade-off is that you will have to pay anywhere from thirty U.S. cents to a few dollars for each trade. At FOREX.com this is paid as a 'spread'.
At FOREX.com, I initially requested to withdraw $658.06 back to my VISA debit card on the morning of 7 MAY 15. It was returned the morning of 12 May 15. FOREX.com only takes bank debit cards for deposits. Deposits are done very quickly - withdrawals are done much slower. But, remember by not being able to use a major credit card - you don't have that layer of security protection --known as a charge back. But even with a bank debit card you can file a 'dispute complaint' if need be. Keep copies of all emails, and phone conversations regarding withdrawing your funds.
READ the study below. Someone has to pay for the signals and exchange fees. FOREX.com does this by your spread payments per trade. The overseas binary options trading companies don't need to add spread fees, because the likelihood that you will lose all your funds is in their favor by: (1) Outright trading loses, (2) Refusal to let you withdraw your funds, (3) Outright theft of all your funds. (4) Everything you lose goes directly to them, which explains why overseas FOREX binary option sites are very, very slow in returning funds -- IF they return them at all. Typically, you will have to make many phone calls & emails to get your funds from an overseas site. I found a few such as CherryTrade.com more honest than most though. Finally, you may have to do a major credit card 'charge back' (as I did) when/if they steal your funds outright. 95% of ALL FOREX Currency Traders lose their money. Currency Trading and its instant gratification (unlike stocks) or distraught (loss) has the same feel/rush as gambling. SO, beware of what you are getting into -- especially if you have had past gambling problems. Also, be prepared to have to basically have to spend a great amount of time 'glued' to your computer screen, because currency pairs often do change course sometimes instantly.
BEWARE NEWBIES to FOREX Currency Trading. There is a HUGE learning curve. You HAVE to be up on the news for each currency you are trading. A news report can come out, or a Federal Reserve official may just make an 'off the cuff' remark - which can wipe out your position in seconds as the market turns.
ADVICE: Open a free practice account and practice first. Then get into it slowly, with no more than USD $300 and make small trades. Resist the attempts by brokers to fund your first account with up to USD $1000. Stay far away from overseas binary options trading companies is even better advice.
The SHADY overseas Binary Option Trading sites I report on below in my study do not make you pay a spread fee for each trade. TRUST ME. When they try to steal your money or not let you withdraw your funds -- the frustrations of dealing with overseas Binary Option Trading companies are NOT worth it Vs. having to pay a small spread fee per trade. One overseas company below, OneBinary.com (located in the Caribbean) - tried to outright steal $999 of my funds. After calling them and emailing them for over a month, Bank of America (BOA) stepped in and got it back to my VISA very soon after I filed a charge-back with BOA. Document everything, if you deal with any overseas Binary Options trading companies. READ BELOW. My lesson learned is stay far away from overseas Binary Option trading companies.
Have NO doubt, that there IS a place set aside in hell for these internet unregulated Binary Options trading companies with their GUARANTEED to win 'auto trading robots', and their lying participants/actors (with fake bank statements) in their video sales pitches. I use the words broker and brokerages below incorrectly. Broker really is not a good name for them, as you will find out below. These are simply companies who take your deposit and keep it all if/when you lose. So it really is only between you and them. A traditional broker/brokerage stands between 2 parties in a deal.
When you lose, they win the exact amount you lost which at most for them is your entire deposit. That's why when you sign up with a $250 USD deposit, you WILL receive a 'sales phone call' rather quickly, trying their best to convince you to why you increase your odds of success by putting more money into your account - usually they ask for USD $1000 or more. BUT didn't you just hours ago see their video which promised (actually GUARANTEED) to make you filthy rich with only a small USD $250 investment? They'll entice you with a 100% BONUS to your account, because it means nothing to them. They ONLY win when you lose. The matching bonus is really ZERO money. It is just an enticement because they know a beginner will always lose it all.
YOU ARE ENTERING THE WORLD of shady, greedy overseas BINARY OPTION TRADING. Have NO DOUBT, that the winners ARE the 'sharks', and you ARE their bait. Binary Options Traders WIN, whether you place a winning or losing trade - they make their money on the 'spread' either way. SO, they have come up with scores of very professional VIDEOS that intend to ONLY entice you to OPEN an account at their/and theirs alone (sometimes 3 or more related) UNREGULATED overseas binary options brokerages.
To get a good idea of what these so-called binary options 'brokerages (sic)' are, wat the 2013 movie 'Runner Runner' (minus the brick & mortar casino) starring Ben Affleck. Basically they have bought a single server in a foreign company where there entire web site resides for maybe $1000 a year. They bought a Binary Options platform that receives FOREX signals that rests on that same server. Typically, the server is in say Dublin, Ireland while the monet/credit cards are collected where the 3-6 people who run the entire operation are in an 'out of reach' place for prosecution -- like in Malta, Costa Rica, Malaysia, Bulgaria, or some other 3rd-4th world country. They may have a single person processing credit cards. The entire Binary site may employ 4-5 people (including a chat person). They will deduct a $250-$1000 or more from your credit card. BUT they will either take 3-4 weeks or more to let you withdraw your funds -- that's IF they don't outright steal it (by their mindless auto trading robot - or by their staff).
Their Auto Robot ads that DRAW you in ALWAYS promise when you win BIG you can almost instantly withdraw your winnings. BUT, the reality is this. Since you pay nothing per trade such as a legitimate US options broker would have to charge (just because they pay for signals) -- these sleazy overseas options sites consider your deposited money as their own! They may take up to a month to let you withdraw, or even outright try to steal your fund as I detail in my actual study below (which OneBinary.com attempted to do until Bank of America did a charge back). They will drag out your withdrawal requests for weeks - knowing, most of their clients are gamblers -- who can't resist losing any winnings over a period of time. THE DIRTY SECRET is this. EVERYTHING you lose goes directly to them. Their so-called brokers WILL call you and sweet talk you into upping your $250 initial deposit to $1000 so you will become filthy rich with their 'superior knowledge'. BUT these overseas options sites ONLY win when you lose. That is the bottom line. Believe me or not.
The DRAW is the very professional looking (yet lying) VIDEOS that promise, BUT NEVER deliver between 70-94+ percent winnings on ALL binary options trades via some super duper state of the art 'AUTO Trading Robot' which HAS mastered the algorithms and/or algorithms combined with 'inside information' that ONLY Banks are privy to - that will make you Very, Very rich - automatically. The LIES and deceptions begin, with their GUARANTEES to make you filthy rich. They will NEVER tell you that all those in their videos who lie about winning thousands and thousands of dollars via their grand/unbeatable 'auto trading robot' are nearly ALL paid actors... They never tell you that only about 15% of Binary Options Trader actually make any money. The other 85% lose it all.
BEWARE of their 70 to up to 100% WIN short video pitches. THEY have ALL mastered the short video lies and WILL make you believe... It's ALL a lie! Bulgaria's (BinaryBook.com) 'Anonymous Trading Group's' evil Islamic Jihad John-like video, is one of the best and most convincing lie out there. It just does not work! You WILL lose all your money! THEY ONLY WANT your USD $250-$300 signup fees. Some of these 'super duper' robots won't work unless you open 3-4 $250 USD accounts with 3 or 4 'selected unregulated binary options brokers. Are you getting the idea now? The video you just watched was so professionally done - and you just have to give it a shot because you are now hyped up and very, very curious. What will you do? I did one. Then decided to expose them all - via my descent into the murky, sleazy world of unregulated overseas binary option trading websites/brokers.
Most of these Binary Options Robots either don't make any trades, OR they will place trades a month or more in the future to KEEP you secure within their grasp. Or, like the trading robot 'Verified Trader' did to me, they will go into your account even when they are deactivated -- and wipe out your account by making dozens and dozens of 'mindless' losing trades within a short time period. When you give the robot your username and password to your trading account as they insist you do - they have complete access and control of your account.
These auto trading wizard-like ROBOTS are SIMPLY the DRAW/HOOK to get people to sign up with USD $250 - $300 deposits at these overseas UNREGULATED Binary Options websites.
IMPORTANT: ALWAYS REMEMBER HOW OVERSEAS BINARY OPTIONS BROKERS MAKE THEIR MONEY:
It is no secret, but it is often misunderstood, How a Binary Options Broker Makes Money.
The simple answer is, when a trader loses money, the broker keeps it. And this is the reason why overseas unregulated binary options brokers do not have to charge a commission or a fee per trade. So, be very, very careful if you manage to win a large sum. A late night visit from a deactivated auto trading robot could rob your account, as one did to me at OptionsFX.com. I am not sure that OptionsFX had anything to do with that 'larceny by robot' - but they sure didn't want to make amends. Read about this below.
How Honest Brokers Make Money:
An honest broker, which is usually licensed and regulated makes their money based on trading volume. A report was put out last year with data from binary options trader in Japan showing that 85% of traders lose their money! That means that it is very profitable to be a binary options broker.
Withdrawing money from an unlicensed and shady broker is almost impossible. Since they are not a bank, you cannot automatically withdraw your money. All withdrawals are processed manually by a clerk. Be prepared for stonewalling and actual theft of your funds - if they are large. Don' let your winnings go too high without drawing out some. Remember, your winnings withdrawn is money out of an unregulated broker's pocket.
There is still that 15% of traders, who manage to take money out of the broker. See more on above HERE
This is ALSO the reason why they will give you a royal hassle when you want to withdraw your funds, or like OneBinary.com did to me - try to steal my funds. VISA/MASTERCARD Chargeback is your ONLY protection. NOT one of those VISA/MASTERCARD bank DEBIT cards - you can't get a chargeback if you open an account with them.
I COMPLETED THIS TEST OF 9 overseas, unregulated Binary Options Trading websites in March 2015. It ran from 30 JAN 2015 until 10 March 2015, when OneBinary.com fessed up to stealing all the funds in my account.
Only OneBinary.com outright stole my funds. A VISA Charge back will get them back. So whatever, stay very, very far away from OneBinary.com - who in this test without a doubt was by far the most dishonest and stalling (I sent 7 withdrawal requests, terminated my agreement with them and spoke on the phone with them (Adam Sterling & Mark) 3 times. They strung my withdrawal of funds requests (7 requests in all) on all the way from 3 February 2015 until 3 March 2015 when they wrote: "We have processed your withdrawal request. Please allow 3-5 business days". Then the same day as my last request (9 March 2015) after having been on the phone with VISA that same day - OneBinary.com wrote: "These funds have been returned to the Visa card xxxx-4676 as of February 6, 2015. Please find here attached a copy of this transfer as it appears on our end." Funny Bank of America VISA Fraud department can't see that return of funds either in March. They told me I am not liable for it - OneBinary.com will be liable and have it debited from their account by VISA.
ALTERNATIVELY: If you want to really make some money (Currency & Commodities trading), and forgo the 1-2 month hassle of being able to withdraw your funds AND/OR have your money stolen outright (OneBinary.com is the very worst example this), then you may want too consider signing up with an ACTUAL REGULATED U.S. based Options brokerage like NADEX.com, Forex.com, or alternatively those listed: HERE. U.S. based Binary Options Broker (websites) are REGULATED by the CFTC (fair play/withdrawal upon request) - BUT overseas sleazy Binary Options brokerages are not. VISA/MASTERCARD has not yet caught on that these UNREGULATED overseas broker/websites will take your USD $250 from your credit card in seconds -- BUT take months or NEVER to let you withdraw your finds (again: OneBinary.com as an example). I never signed up for a live account with NADEX.com simply because I found their platform way too confusing to learn and use.
Click HERE to see a list of overseas binary option trading brokers who are at least licensed - in overseas places
BOTTOM LINE: AN OVERSEAS BINARY OPTIONS BROKER is without a doubt your worst enemy. An overseas FOREX (foreign exchange) broker/brokerage takes a share of BOTH your winning or losing trades. The Broker doesn't even care if you are winning or losing -- they make out either way. So, when talking to an overseas Binary Options unregulated Broker -- keep this in mind. ALL their promises and pictures of their winning trades and their 'million dollar investment clients' are worthless. YOU are on your own.
My last trades with an LBinary.com FOREX Broker (Dan Davis in JAN 2015) was 6 trades he suggested via a phone call at 8 AM. ALL six of those trades lost. What's the odds of that? One would expect at least 4 wins out of 6 from a so-called knowledgeable broker. You are better off making your own decisions based on both technical analysis AND news. FOR MORE READ: HERE
STAY FAR AWAY FROM THEM. They WILL STEAL YOUR FUNDS, or TAKE FOREVER TO LET YOU WITHDRAW your deposit, balance or winnings!
Many like Citrades.com will refuse to let you withdraw your funds, unless you make a 'zillion' trades (they call Volume) - even though their own Terms of Agreement on their website doesn't indicate that. Citrades, BeeOptions & especially OneBinary.com ARE the 3 most frustrating & despicable (lies, stall, stonewalling - and only OneBinar.comy--finally theft of my ENTIRE $999 funds/and likely your funds also) to deal with -- will put you through time consuming 'loops' and stalling, just to let you finally withdraw your own money.
To these 'sleaziest of the sleaziest overseas UNREGULATED Binary Options 'brokerages' who do NOT operated like legitimate brokerages anywhere else in the world, especially in America -- they are of the opinion that your (their client) funds are their funds just as thieves think. A VISA and/or MasterCard 'Charge Back' for fraud & theft of funds is your ONLY hope when dealing with them. I implore you to use this credit card Charge Back option IF you have been ripped off!
Citrades has the very worst withdrawal policy. Don't even think of signing up with any online Options Trading brokerage using a Visa or MasterCard 'debit card'. You have no 'charge back' protection with bank debit cards. The free binary options trading software which they GUARANTEE will win you 70-90+ percent of your trades (because some wizard developed it) is 'THE DRAW'. This super duper auto trading robot software only will work with particular affiliated unregulated brokers - forcing you to open accounts with them. There is never any mention of unregulated or overseas brokers in these sales pitches.
The software pitches from all these robot trading schemers all will tell you you can withdraw your funds at any time. But the reality is different. First off you will more than likely lose all your money via these auto trading software programs.If you catch on EARLY when all the 'LOSS' positions begin piling up and want to withdraw your money - they will outright refuse your withdrawal, or make you jump through 'loops' for weeks or months. But, again - you likely lose all your money.
Beware: when you open up an account via their software trading 'robot' web pages you don't get to see the most Important 'Terms of Agreement' for the options broker you are signing up for. So go to those brokerage sites 1st. BUT, why even bother falling for the expertly produced super duper 'auto trading binary robot' DRAW/pitch/video -- that always guarantees you will always win (lies) anyways?
FIRST OFF, understand that currency & commodities options trading is bigger (4 trillion transactions daily) than STOCK trading (multiple Billions) by far. To get a sense of just how large this market is, consider that the amount traded in 5 or 6 days could pay off the entire United States debt.
With Options Trading you can make 80-90% profit by just betting on whether or not a currency or commodity will simply go UP or Down in 30 seconds, 60 seconds, a week or more. The Billionaire George Soros - a sleazy liberal Democrat in my opinion made his billions in Options Trading. I think All liberals are diabolical (Un-Godly - pro murder of infants/abortion & homosexuality, Anti Israel (thus Pro evil Islam) - letting Illegals Storm our borders to vote Democrat). That's just my opinion. If you buy a currency pair expecting it to increase in value, you are “GOING LONG.” If you sell a currency pair expecting it to decrease in value, you are “SHORTING.”
Whether you are going long or shorting in this market, one currency is
always growing stronger against another, and one currency is always growing weaker, creating an opportunity for any type of trader. The most traded pairs are: EUR/USD, GBP/USD. USD/JPY, and USD/CHF.
Fundamental, Technical and even Sentimental analysis is very much in play here. The BIG problem is that UNREGULATED overseas internet Binary Options websites are springing up everywhere. DO A Search for their latest Auto Trading Robots on Google and you will NEVER find anything NEGATIVE. That is because they LAUNCH these 'robots' and FILL Google & Yahoo with ONLY positive reviews within VISA & MASTER within the last 2 months. You will search very far to find even 1 negative review.
These deceptive folks know SEO, and how to get to the TOP of every search engine with ONLY positive and/or fake positive reviews. Google & Yahoo have not yet caught on to their dastardly deed & operations. VISA & MASTERCARD also have not caught on (or have they, but ignore it due to profits for them). These sleazy overseas brokerages are allowed vi VISA & MASTERCARD to debit your credit card in seconds. BUT it is hell to pay should you have a second thought about dealing with an UNREGULATED Overseas brokerage - and decide to Withdraw your funds. BELOW IS MY RECENT HISTORY of this DARK SIDE of the Internet Binary Options Trading. There are legitimate REGULATED Option Trading websites. SEEK them out. It can take MONTHS to withdraw your original funds and/or winnings - if they don't steal those.
I went through this to report my experience with this & because I was curious about Options Trading. I purposely signed up with 9 of these overseas brokerages. All drew me in with a guaranteed to win 'binary options trading robot'. My experience is that you will 'jump through loops' (scanning numerous documents to either sign up or withdraw) and pay many $12-40 U.S. dollar foreign exchange/transaction fees to deposit and/or withdraw. Most will not respond to your emails. And their telephone numbers will often not work/nobody will 'pick up'. Frequently nobody is manning their online CHATS either. And the people paid to help you on the Chats, certainty won't help you withdraw your funds. NOW THEY GOTCHA with a auto binary options trading robot - who is losing your money directly to them (that's why there's no trading fees). But these unregulated overseas brokers do well. They make their money when you lose trades, and eventually they will own your entire deposit as your account dwindles to nothing. That is the reason for these auto trading robots that they GUARANTEE will make you wealthy. For you to open an account with them, lose your money - and they get richer & richer. BEWARE: ALL the auto 'robot' binary options trading sales pitches are very, very convincing. They'll convince you that a auto trading robot will make you rich beyond your dreams. BIG BANKS use special trading robots every day. But they are not like these that options brokers use --which are designed to make you smile for a while, but eventually lose your money to make the brokerage happy.
MOST Binary Option trading sites are located in UNREGULATED British territory places such as GIBRALTOR (Lbinary.com), Malta, and Caribbean Islands like Anguilla (OneBinary.com) & BinaryBook.com, and BinaryBook.com (Anonymous Trading group) in Bulgaria. CedarFinance.com (only licensed one of this bunch)is located on the island of Cypress in the Mediterranean. Their servers are usually elsewhere like in Ireland or the Netherlands. For some reason many like to use the U.S. Registrar, Godaddy.com.
Want a REGULATED U.S. based alternative Binary Options Broker - where you won't get 'ripped off' or have to pay foreign exchange fees when you deposit & withdraw? TRY: Nadex.com (Chicago-based). But NADEX does charge fees for your trades. Maybe even try CherryTrade.com - the only one of 9 unregulated brokers I tested which gave me no hassle while withdrawing all my funds.
Your only HOPE to fight them is VISA and MasterCard reversing charges (Charge Back) for fraud (See more on this at bottom). They'll try to HOOK you with an auto robot software/web page that GUARANTEES that you will win 70-90+ of the trades. The one I used (RISK FREE PROFITS hooked into Cedarfinance.com) loss 70% of the time and wiped out my deposit. The broker from Lbinary.com (Dan Davis) who called me on the phone in FEB 2015 with 'hot tips' for BINARY Options trades which resulted in 4 out of 4 (USD $600) losses within an hour. A broker at OptionFX did the same thing. He gave me a 'stock tip' to buy EUR/USD and that too lost ($50). Remember, unregulated binary overseas options stock brokers WIN when you lose!
BINARY OPTIONS TRADING SOFTWARE 'ROBOTS' are a SCAM/CRAP SHOOTS. THEY ARE JUST PLACING PERIODIC TRADES -- I LOST 70% OF THEM AND MY ENTIRE DEPOSIT AT CEDARFINANCE.COM and DID EQUALLY POOR via BLOOMBEX-OPTIONS.com...
Sleaziest of Sleaziest: online Binary OPTIONS Stock Brokers in my opinion:
They look like stock brokerage sites - but ultimately they are UNREGULATED GAMBLING sites who sucker people into opening new Guaranteed losing accounts via their promotions of so-called FREE 'Guaranteed Wealth binary options trading automatic robot software'. YOU WILL ALWAYS lose with these 'trading software robots'! I lost 70% of all trades using them. They are all just HOOKS to get you to sign up for overseas unregulated binary options accounts. Their sales pitches for these robots are outright lies, done with paid actors and fake bank statements showing big bank deposits.
Unregulated means ALL money you deposit in their accounts belongs to them. That's how they treat your money. A broker of any kind in the U.S. would lose their license, thinking like that. Overseas unregulated binary options brokerages decide IF you can withdraw ANY money, and even set limits on how much you can withdraw at 1 time. Your ONLY recourse is: (1) opening an account with a VISA or MasterCard (NEVER a Debit Credit Card), and ask VISA or MasterCard to do a CHARGE BACK due to fraud. U.S. citizens are protected from fraud via credit cards by 'Regulation Z'. Or, (2) Buy a plane ticket to these British overseas islands where most or located and 'STORM' their office.
The word 'Binary' indicates it is an internet site. The language of the internet is 'binary numbers' such as 0101010101. This also means within less than a second you can lose an awful lot of money trading options on the internet. Please read below about this scheme to get poor, hard working folks to place funds in overseas online option broker sites -- by being PROMISED/GUARANTEED to win 70-91.4 percent of their trades by using useless free software that supposedly 'can't miss' because it was created by some genius. All the free software intends o do is get poor folks to sign up via credit card for online options trading accounts. Some (like CiTrades.com) will not even let you withdraw your money (except/only if you have multiple thousands of dollars in your account), even though the free software 'pitches' say you can easily withdraw your funds. NO legitimate stock brokerages operate like these sleazy overseas online Binary Option Brokerages. They get away with it because they are not regulated, and they are allowed to accept VISA & MasterCard.
A legitimate brokerage lets you withdraw any and all your money and close the account. Many or most of these sleazy overseas Option Trading scam brokerages hide beyond and outside the Law. In the case of LBinary.com in the British territory of Gibraltar, the Cypress government has told them to cease. The Cyprus Securities & Exchange Commission (CySEC) has announced that LBinary.com, under the name Live Binary Ltd, is not regulated or authorized in Cyprus, as part of public announcement made by the regulator to warn investors. Read: HERE
I am sure there is a place in Hell for these online Binary Option brokers and those who push poor people to open up accounts on their websites, via the proliferation of so-called Free Guaranteed Wealth Binary Options software vendors who promise their special software will win 70-91% of all trades. It is all lies! Been there. Done that. It's amazing how quickly these Binary Options websites can debit your credit card, yet take weeks to withdraw funds back to the same credit card. Some like CiTrades.com will not let you withdraw your funds at all. So read carefully, and don't fall for it.
BEWARE: if Any stock broker tells you to fund your account with additional money because they are sure they can win you hundreds - RUN like the dickens. If a binary options stock broker calls you with tips - run even faster & further. One binary options broker named Dan Davis from Lbinary.com called me on Friday, 6 FEB 15 at 8:30 AM with 3 currency option & 1 precious metal pick. He even told me how long to let those stock picks run for (less than an hour). And to put $150 USD on each: gold, EURO Vs. US Dollar (EUR/USD), US Dollar Vs. Japanese Yen (USD/JPY), and the US Dollar Vs. Swiss Franc (USD/CHF). Guess how many of these picks LOST in that hour? All 4 lost - a $600 USD loss. Binary Options trading for currency and commodities are just a crap shoot - unless you take years to master it. The house is stacked against any bets you might make. You WILL likely always lose all your money over a short period of time.
I recently fell for a Binary Options Scam that PROMISES you that you will make over 90% of your investment via a specially developed software (Larry's Cash Machine) by some supposedly Harvard genius. This software supposedly scans the market with special algorithms. It lost way more trades than it won in my case.
These sleazy Binary Options trading web sites always operate outside the U.S. so they can more easily perpetrate their dastardly deeds. You may see your credit card processed through a company in China, Bulgaria, Cypress or Malaysia -- and off course they will add a swarm of additional hefty $20-$30 USD foreign transaction fees to your credit card.
And NO government agency seems to regulates these online binary option trading brokerages. You may get some assistance when you eventually get ripped off in this country by country list, but remember your money will still be tied up for months: http://scambroker.com/binary-option-regulators-by-country/. Complain about LBinary.com (located in Gibraltar - a British territory) and other UK options brokers in the UK here: http://www.fca.org.uk/
Complaints to VISA and MASTERCARD may also keep your money tied up for months - IF they can get it back for you. That is not a sure thing remember.
UK: http://www.fca.org.uk/ . I was lucky - Bank of America got my $999.13 back from OneBinary.com attempt to steal it in under 3 weeks after I filed a charge back.
An awful lot of internet advertising now links FREE Binary Options Trading software to sleazy binary Option trading web sites -- that often look exactly the same. This automatic 'robot' trading software promises to make you 90% profit and thousands in a month. SCAM!
One would do better betting on slot machines.
Again, FORGET THE HYPE and the legions of people showing you lists of huge deposits in their bank accounts by using these free Binary Options Trading Robot applications. If it's free. That should be the 1st clue of something wrong. These trading robots are basically completely random. The odds are always in the favor of the broker. Why else would their be so many of these binary options trading web sites? Because the online brokers are making tons of money. You end up losing your deposit money and then you quit. If you're lucky and smart you might be able to call it quits before you lose too much and then you can withdraw your remaining balance. But trying to withdraw your balance WILL end up being a huge challenge. An awful lot of online binary options traders who smartened up - ended up having their balances stolen by these UNREGULATED online trading sites - who are always in foreign out of the way countries - beyond the reach of the law.
They use the phrase 'Guaranteed Wealth' often in their ads. The only thing guaranteed is that you will lose your wealth over a short period of time.
THE BIGGEST LYING VIDEOS THAT PITCH GUARANTEED WINNINGS THAT THE U.S. CONGRESS NEEDS TO PUT A STOP TO:
SOME sleazy binary options trading web sites linked to these unregulated overseas Binary Options free AUTO ROBOT Trading software schemes are (listed by order of SLEAZE): OneBinary.com - very worst,Citrades.com (2nd worst), BeeOptions.com (equally 2nd worst), -click to see on Scam Advisors, Lbinary.com, Cedarfinance.com, bloombex-options.com, OptionFX.com, BinaryBook.com, and CherryTrade.com. CherryTrade.com is included ONLY because they are hooked in to these 'free binary auto robot trading software scams'. madmaxprofits.net is yet another deceiving/lying 'auto robot'. It pushes you through the 'FRONT DOOR' of the scheming unregulated overseas brokerage known as: OptionsMogul.com
WHY can't the U.S. Congress step in and stop these scams against the American people? THEY ADVERTISE these 'guaranteed you can't lose' professional videos as a 'FRONT DOOR' to ILLEGAL (to advertise in the U.S.) Binary Options (FOREX) overseas unregulated sites.
Cherrytrade returned my money within days of requesting a Withdrawal. CherryTrade.com is the only overseas binary options broker who did not flunk my 'no hassle test'. I would trust CherryTrade.con and Cedarfinance.com above the rest that are listed here. Cherrytrade.com quickly returned my money - hassle free.
THE DRAW - Worthless AUTO BINARY OPTIONS TRADING ROBOTS:
The auto robot trading software programs go by such names as: Larry's Cash Machine (by some Harvard wizard they say), MetaTrader4, RISK FREE PROFITS, Auto Money App, Verified Trader aka verified trader (this robot one ripped me off by about $700 by making dozens of unauthorized losing trades while in DEACTIVATED mode-see that true story far below), Home Profit Maker, 100percentprofitbot, binarybankbreaker, Best Binary Options Brokers Robot, & 'Anonymous Trading group robot (both connected with BinaryBook.com), Binary Bank Breaker, Madmax Profits and Guaranteed Wealth System.
JUST LOOK AT THE MAD MAX PROFITS (Auto trading robot) SCAM. All the other sleazy auto trading robot scams are similar - just meant to direct you to an overseas unregulated binary options 'broker' to get you to open an account of $250-$1000 which the robot will quickly lose. Your loss, there gain:
In this review we are going to have a look at the “Mad Max Profits” binary options scam that is presented by David Finn.
This scam is funny because it brings a new story. Finn says that a binary options guru called Max Taylor created a program that can trade binary options for you and make you tons of money. And because Finn’s wife left him for Taylor, he got access to this software legally. Now Finn wants to take his revenge on Taylor, so he will give away this software to 50 lucky people.
Mad Max Profits scam
In one day the date rolls backs several months.
OK, enough of fairy tales. Max Taylor nor David Finn do not exist, the entire video is a fake, including the TV news at the beginning. Just look at the Mad Max Profits web page. There are stolen certificates on it from McAfee. The discussion is fake, you cannot like or add any comments. Just fake testimonials.
FINISH READING this: HERE
The sleaziest of the sleaziest is OneBinary.com, Citrades.com (because of their extra turnovers to withdraw, etc), BeeOptions.com, and LBinary.com in my opinion. Citrades probably even beats out LBinary in this category. BUT, none beat out OneBinary.com - they outright stole my funds. THEY ALL have for their hook - a free guaranteed to win auto robot software. A few of the robots use sales pitches to try (and are very successful) to get you to send $250 to 4 separate Option brokerages like OneBinary.com, Lbinary.com, and Citrades.com - but it has to be their select brokerages. Then real people (assistant brokers & brokers) begin calling you saying you need to up your deposits from $250 to $1000 to make any 'real' money. OptionFX's Verified Trader auto trading robot made about $700 in losing trades while I was asleep, even though I had deactivated/turned it off 3 weeks prior. OptionFX admitted their robot (their logo all over it) made these unauthorized losing trades - but failed to reimburse me for the, except for a $75 bonus along with a losing tip to buy EUR/USD.
The second (after OneBinary.com) of the sleaziest - CITRADES.com - goes one step further. Onebinary.com outright stole all my funds, CITRADES.com steals your funds by telling you - you cannot withdraw your funds unless they are in the multiple thousands of dollars over your initial deposit. So kiss your under $1000 funds you placed in Citrades.com's safekeeping goodbye. OR NOT? Citrades.com has an error in their Terms & Conditions that you can use to withdraw your funds regardless of the balance/volume. If you signed up for a Citrades Account before 9 FEB 15 when I pointed the missing 'and' or 'and/or' error to them - show the following web page to Visa, Mastercard, or your lawyer: http://prorege-forum.com/CITRADES.com-TERMS-OF-AGREEMENT.htm
When I tried to Withdraw $300 USD (my original Deposit) from Citrades.com, I received the following in an email from Martha Smith at Citrades Accounting: "you must trade 10x the volume of your initial deposit before withdrawing (if no bonus was applied to your account). For example, if you deposited $250 your turnover would have to be 2500 in order for you to withdraw." I can't imagine how many times the initial volume/turnover would be to withdraw if I had accepted their bonus trading money.
The best of the lot who are implicated in these AUTO Robot schemes is CherryTrade.com (Guaranteed Wealth System pitch). At least once you explain to CherryTrade.com that these AUTO ROBOT software scammers are using them -- they at least will let you withdraw your funds with no hassle. In my case my account deposit of USD $600 was returned by CherryTrade.com to my Bank of America Visa card within 2 days. Lookout, Victor Lambert sounds so very convincing in his pitch for this Guaranteed Wealth System. He is lying through his teeth in my opinion.
BINARY (in the name Binary Options Trading) are numbers that the internet runs on, such as 01010101 (binary numbers). It signifies you can lose your money via an internet web site in 30 second, 60 second, 120 second - and longer trades by simply clicking a button on a web site.
STAY ESPECIALLY FAR AWAY FROM ONEBINARY.com & CITRADES.COM:
I think Citrades.com's withdrawal of money rules is the very sleaziest binary options trading site out there. Deposit say $500, and they will tell you they have a policy that you must have a couple of thousand in your account before you can withdraw anything. On 6 FEB 15 I spoke with CiTrades Accounting on the phone at 800-935-0543. They refused to put my USD $315 back into my credit card after I smartened up about the scheme after a day of testing 3 free trading robot systems. I asked what happens if I just close my account. CiTrades Accounting Department reply "we would then keep your money". Reference: 06 FEB 15 - Phone call with their Accounting Department. READ MORE about this above. And how as of 13 FEB 15 Citrade'com's Terms of Agreement has an error allowing you to withdraw nearly all your funds - so long as you don't close your account.
WHY DOESN'T VISA & MASTERCARD STOP THIS?
WHY HASN'T VISA & MASTERCARD blocked this overseas Binary Options trading web site scam? VISA and MASTERCARD allow these scamming so called brokerage web sites to almost immediately use money from your credit card. But, should you smarten up with the mountain of losing trades you will make and decide to WITHDRAW your funds back to your credit card, these scammers like CItrades.com have blocked that. Although it takes seconds for them to get money from your credit card -- IF and I say IF these sites let you WITHDRAW your money - it will take up to 2 weeks for it to show back up on your credit card - and some will tack on about a $35 USD processing fee (in addition to foreign transaction fees), which wasn't there when you transferred funds into your online account. So you get hit with processing fees plus overseas charges. NONE of this is ever told you by the FREE "Guaranteed Wealth" Binary Option trading software 'gurus'. In fact in all their sales pitches they tout over and over that you can withdraw your funds quickly at any time.
And ALL of these free Binary Options software out there will make sure you are aware that their software can only be used on - or is designed to work with particular online Binary Options brokers whom I presume get paid by these online binary option brokers to direct poor people to open up losing accounts with them. Remember a stock broker wins in fees regardless if you win or lose.
This is what shows up on your credit card when you transfer funds to OneBinary.com: RRGKVV462 SHENZHEN - FOREIGN CURRENCY 6,243.00 YUAN RENMINBI
THESE GUARANTEED WEALTH 'FREE' BINARY SOFTWARE schemes are all geared to get you to put money in foreign country based online Binary Options websites. These sleazy 'Boiler Rooms' are set up to have their sleazy brokers monitor your accounts. When you lose - Beware - they will begin calling & pressuring you on the phone and suggest if you put $1000 - $2000 more in your account they will work with you and not only get your losings back, but make you an awful lot of additional money. Look at my LBinary (Dan Davis) history with that strategy above. 4 trades and 4 loses from LBinary's Dan Davis's 'tip' via an early morning phone call.
When you sign up for a small $250-$500 USD account. Trust me, the odds are great that you will get a phone call from an options broker who will spend a lot of time on the phone being very persuasive in trying to convince you that you simply MUST put another $1000 - $1500 on your credit card to make any REAL money. They'll have lines such as "the 'U.S. Non Farm payrolls (unemployment report)' will be coming out Thursday which will let us make some huge wins for you". So Friday, we know how to use it to bet the market for you. That was Dan Davis and his boss Adam Mrad's line via phone calls from Lbinary.com.
When you use the so called "Guaranteed Wealth" software at www.100percentprofitbot.trade they tell you there software is designed to work with 4 separate binary options brokers - so you need to deposit money in all 4 online options brokers websites. They also say you can quickly withdraw your funds/winnings. Inside there software web page you can choose the following online binary options brokers only: OneBinary.com, Lbinary.com, Bloombex-options.com - and of course the worst of the bunch: Citrades.com
BeeOptions.com is associated/preferred by Larry's Cash Machine.
What you are never told in these 'rags to riches' free GUARANTEED WEALTH robot pitches is that Binary option brokers pay commissions to people who send them new customers. Binary systems like Guaranteed Wealth, Larry's Cash Machine, Risk Free Profits - and the dozens of others that launched over the past 24 months are designed ONLY to get people to sign up and make a deposit at the recommended broker. They will always say their guaranteed wealth software only works on certain binary option broker websites.
ONE LAST WARNING: Do not ever get suckered into accepting "bonus money" from these binary option broker websites. IF you do, then IF you lucked out and landed on an internet options broker's site who actually would give you your balance back -- you won't get it back until you make a minimum (very, very many actually) amount of trades which WILL raise the likelihood that your trading account balance will bottom out -- especially if you are a beginner - and have not mastered the 'learning curve'.
BEWARE. The bank is a much safer place to stow your hard earned money than in an overseas binary options brokerage.
SEE TERRIBLE REVIEWS BY PEOPLE WHO HAVE HAD THEIR MONEY STOLEN by these internet Binary Options companies at the below link. Start by reading the reviews (scroll to the bottom) by people against LBinary.com, is based in the UK -- so says the people running their Chat: http://www.binary-options.reviews/brokers/lbinary-review/ . I think they are in the Caribbean.
In January 2014 the Cyprus Securities and Exchange Commission (CySEC) warned investors about the fact that LBinary is not authorized or regulated by them and therefore is not permitted to provide investment and ancillary services. In other words, we are dealing with a brokerage which is not allowed to be a brokerage
But this site says they are in Cypress. LBinary is located in Cyprus but is not regulated by the CySEC and even more, it was warned by the mentioned authority. We strongly recommend reading the warning issued by the Cyprus Securities and Exchange Commission before investing. RE: http://www.binaryoptionsthatsuck.com/review/lbinary-suck/
LBinary is not yet regulated but they have started the process of getting a license. So file any Withdrawal complaints regulators in the UK, Gibralter, and Cypress.
Lbinary option broker is owned by Chelestra Limited, located at 5 Secretary’s Lane in Gibraltar. Gibralter is a British territory. Lbinary was founded on February 1st, 2013. Lbinary can be reached in the UK at toll free UK: +44 8000 483 8507. Their number in the United States is (888) 882-0975
MORE LBINARY.com complaints here: http://www.complaintsboard.com/complaints/lbinarycom-lbinary-options-trading-c720397.html
ESPECIALLY THE ENORMOUS amount of complaints here: https://www.google.com/search?q=Lbinary.com+complaints&ie=utf-8&oe=utf-8
OneBinary.com's physical server may be in Dublin. So maybe the Ireland regulators can get your money back.
CedarFinance.com is located in Cypress - so maybe the Cyprus Securities & Exchange Commission (CySEC) can help you.
OptionFX.com - their hook is the losing auto trading robot - verifiedtrader.net. They may be among the very worst. The verifiedtrader.net 'rags to riches' software pitch tells you to open a USD $250 account at OptionFX.com. But OptionFX then calls you and says you need at least USD $300 to open the account. Next, within an hour, this 'auto trading robot' places 'crapshoot' $25 trades using your entire USD $300 balance. Some won't expire until the following month. So you are stuck in OptionFX.
See reviews on other binary options brokers here: www.binary-options.reviews/us/
BINARY OPTIONS REGULATORS by COUNTRY:
FRUSTRATING WITHDRAWAL PROCESS & OUTRIGHT THEFT OF YOUR CREDIT CARD FUNDS:
These Binary Options websites all debited my VISA card within minutes. But then I had to print, scan, make into a .PDF file 3 verification forms (driver's license or passport, copy of utility bill with address, copy of both sides of credit card). All charged my credit card between $12 & $30 foreign transaction fees. The Withdrawal process was frustrating. Similar to when one signs up, one has to print, scan, make into a .PDF file several verification forms like those first submitted, plus a hand signed Withdrawal Form. Below is a comparison from start to finish how long it took these companies to Withdraw my funds from the date of request to when they actually arrived back into my VISA account:
LBinary.com - 1st requested Withdrawal 6FEB15; back in my VISA on 13FEB15 (7 days)
Cedarfinance.com - 1st requested Withdrawal 4FEB15; back in my VISA on 13FEB15 (10 days). They are one of the few actually licensed (in Cypress). However, BEWARE: Their platform either goes bonkers purposely or unintentionally. Regardless, I lost a lot of money one night trading on this site. I had placed trades to end in minutes. Each and every one of them was a winner. I stared in disbelief, as CedarFinance's Platform took from 60 full seconds up to 4 minutes (typically a trade closes from milliseconds to 1-2 seconds) to close out the trades. In the meantime while the trades were closing out, the market turned -- and instead I lost all 4 trades. That happened many more/additional times that night. I fled away from Cedarfinance --very quickly after that.
Bloombex-options.com - 1st requested Withdrawal 3FEB15; back in my VISA on 13FEB15 (11 days)
OneBinary.com - My opinion - OneBinary.com basically stole almost $1000 USD from me in February 2015. It took me over a month of countless phone calls, countless emails - and finally a Charge Back via Bank of America VISA to get my money back to my credit card. If I had signed up with them with a VISA/MASTERCARD bank debit card - the Chargeback would not have been an option and I would have lost the nearly $1000 to OneBinary..com. Below is my honest story:
OneBinary.com - I 1st requested Withdrawal of my nearly $1000 on 3FEB15. I also terminated my agreement with them in writing on 8 February 2015 within their 10-day termination date per their own Terms of Agreement. A month of phone calls and dozens of email requests followed asking that they return my funds. Their reply was always the same ALL the way up to early March 2015, when via emails and phone calls OneBinary.com told me that they were still working on putting my money back into my credit card. As late as 1 March 2015 I got an email from them that said "This email is to confirm that we received your request and would like to thank you for trying One Binary. We have processed your withdrawal request. Please allow 3-5 business days (this depends solely on your bank or credit institution) for this refund to be reflected on your credit card account." But it can take 5-7 business days. THEN THE ZINGER of A LIE: On 09 March 2015, OneBinary emailed me the following "This is the final confirmation that your funds are no longer with One Binary- the world's leading Binary Options broker. These funds have been returned to the Visa card xxxx-4676 as of February 6, 2015."
So after a month of having them tell me it takes 5-7 business days to put my money back into my VISA (which took 3-4 second to take out), on 9 March 2015 OneBinary emailed me with the lie that they already returned my $999.13 to my credit card on 6 FEB 15.
OneBinary.com outright stole my funds, stalled for over a month, and then finally lied that they already returned my money. A VISA Charge back will get them back. So whatever, stay very, very far away from OneBinary.com the sleaziest of all 9 trading brokers I dealt with.
UPDATE: 2 days after faxing Bank of America VISA fraud protection a copy of the complete 'thread' of the back and forth emails and a copy of my 8 FEB 15 Termination of Agreement letter - this $999.13 was back in my VISA card on 11 March 2015.
BeeOptions.com - 1st requested Withdrawal 4FEB15. 27 FEB 2015 they finally returned my money after 4 email requests & 1 phone request informing them I had begun the Charge Back process with VISA for fraud/theft of funds.
Citrades.com - They outright refused to send my $300 USD balance. See their unheard of withdrawal rules above, which are not covered in their own Terms & Conditions agreement (the way it is written). When they speak of Auto Trade in their terms and conditions - it is the own auto trader inside their site, which you must deposit USD $3000 to use & lose.
CherryTrade.com - 1st requested Withdrawal 3FEB15; back in my VISA on 4FEB15 (1 day). CherryTrade returned my funds immediately after I explained I opened up an account via the 'Guaranteed Wealth Software' promise. Their promotion video showed it doing 'auto/robot trading'. Yet it does not do 'auto trading'. That function no longer works. CherryTrade.com is a preferred broker for this 'Guaranteed Wealth Software'. ONLY CherryTrade.com actually is the only honest Binary Options website I found via this review/test. CherryTrade.com actually is the ONLY U.S.regulated company used in this review/test. I would NOT personally have any problems opening a binary options trading account with CherryTrade.com
WHAT CAN YOU DO? If you live in America, and you are defrauded by these Binary Options overseas online brokers - call VISA or MASTERCARD and file a CHARGE BACK complaint for fraud. Keep all your documentation such as who (unregulated broker) called you, what they said - and ALL your email requests for Withdrawal of your funds or to Terminate your Agreement or close your account. FAX those documents to the Fraud/Charge back department and call them every few days. NEVER use a credit card DEBIT card. You are not protected if you do. In the U.S., a credit card charge back (your funds returned to your card) is allowed via Regulation Z of the Truth & Lending Act when a consumer has been defrauded. Any so-called brokerage who will not close an account and return a clients funds when asked, is outright fraud.
STAY VERY, VERY FAR AWAY from Verified Trader (OptionFX's auto trading robot). OptionFX's affiliated Verified Trader ADVERTISES "generate profits of more than $57,858 + daily" - but the REALITY is very different
I WAS WINNING BIG TIME ONE NIGHT:
I had finally got the knack for options trading after over a month of struggling. On 12 March 2015, I was actually winning 75% of my many, many $25 trades at OptionFX.com. That night I more than doubled my account, making only $25 USD trades from $220 to over $700.
The very next morning while I was asleep tragedy struck in the form of a 'gone MAD auto trading robot' wiping out my account. OptionFX's affiliated/DRAW 'Verified Trader' "Guaranteed to Win" auto trading robot nearly wiped me out by making gobs of losing trades while it was in the deactivated/off position mode. OptionFX admitted the robot did it (they saw the trades were made so quick only the robot could have done it - plus they could see I wasn't logged on) - but OptionFX wouldn't fully reimburse me for it. OptionFX disclaims having to do anything with the 'Verified Trader auto trading robot'. Yet to use this robot one must open an account ONLY with OptionFX. And inside the robot (web pages) OptionFX's logo is pasted everywhere.
Below is what happened to me. Below is what I wrote to Verified Trader on 13 March 15 via their online contact page. I wrote them, knowing nobody answers emails at Verified Trader - having tried to reach them before.
PLEASE CANCEL my Verified Trader Account. Last night 12-13 March 2015, Verified Trader made unauthorized trades that about wiped my account out, even though I deactivated it the very first day of use (20 FEB 15) because it made trades 1 month away (closing 27 March 15) and made trades that cancelled each other out 1 month away. Yesterday I worked my butt off at OptionFX making trades inside that site itself.
Before I went to bed the night of 12 March 2015, I worked hard making $25 trades, and had managed to take my $220 account balance to over $700. When I woke up this morning my account was at about $6.09. I immediately spoke with Customer Support at OptionFX. They told me that VERIFIED TRADER lost all that money last night. OptionFX was even good enough to put a $75 bonus in my account because of what Verified Trader did. But OptionFX would not fix the wrong that Verified Trader did, even though their name is 'plastered all over' Verified Trader. OptionFX claims it is a 3rd party software.
Next, I went into VERIFIED TRADER and the ON/OFF button was still in the OFF (deactivated) position. So even though VERIFIED TRADER was OFF since 20 February 2015 - it made dozens of unauthorized 'MINDLESS' trades last night that about wiped out my entire account.
SO PLEASE rip Verified Trader away from me. Cancel it, discard it, but keep it very far away from me. I have never received a reply from 2 emails I sent to Verified Trader.
HOW I LEARNED TO MAKE WINNING TRADES - the same night Verified Trader wiped out my account I had just caught on to the below winning (intense & exhausting & yet exciting) strategy.
#1 - Play the TREND! Look at the 12 hr, 4 hr & 2 hr trend closely. #2 PLAY only a very active market currency pair. DON't play when it is extremely active/volatile though. GBP/JPY & EUR/JPY can often get extremely volatile - jumping 80 pips. Be aware, and very careful in the market when less traders are present! Volatile markets happen more often after news, especially when fewer traders are present - like after the London market closes. Catch the trend, ride them to the top or bottom, and exit at the crest.
Play GOLD over a 4 hour period. #3 - get free email advice from pros like Andrew Mitchem in Australia. But like this entire FOREX thing - nobody can be right more than most of the time. Even Andrew's predictions are not sacrosanct. They are made the prior day - a lot can happen before or during the following trading day. Watch the trend around 11-12:00 PM ET before betting with even Andrews' picks.
Start small with $5, $10 or $20 trades. DRAW BACK. My method means you have to stay glued to the screen - and 'play' like a kid would for hours on end on a fast moving video game. ALTERNATIVELY, take a chance on Andrew's advice and place all your trades in the morning ONLY IF the trend is in the direction Andrew suggests - or whatever system you think is best. Then place trades that last 4, 6, or 8 hours. If you have a weak heart - choose the 4, 6 or 8 hour trades. Then walk away from them and check them at the end of the day. I am serious about that. Glued to a screen in an active market placing many many trades can be BAD for your health. I'd do it for a few days ONLY - until I built the money in my account. Then I'd switch to the 'place and forget' 4, 6, 8 hour trading method. BUT remember, anything you WIN over your initial deposit comes out of the binary trading site's pocket. I am curious how long any of them would put up with a consistent winner. They may put the auto robot on you if you signed up via an auto trading robot scheme - so beware of that. So test the waters and withdraw some $400-$600 sums over your initial deposit frequently.
FIRST, use NO auto trading robot! Ever. Do it yourself. My system was only tested on the Spotform Trading Platform, which I prefered before moving to Forex.com. Signup for Andrew Mitchem's daily currency picks to be emailed to you for free from Australia. Here is an example at ForexPeaceArmy.com. Keep Andrews picks forefront in your mind and watch to see if they are inline with the market. Watch where those picks are trending. Get into the ones that are MOST ACTIVE. That is important. Beware: Even Andrew cannot predict what will happen in the market the next day. So double check what's going on against his picks.
READ THIS WARNING about this Binary Options Trading SCAM at the U.S. Commodity Futures Trading Commission (CFTC): http://www.cftc.gov/PressRoom/PressReleases/fraudadv_binaryoptions
SEE THIS VIDEO ABOUT THIS BINARY OPTIONS SCAM:
Don't Buy Binary Bank Breaker,Binary Bank Breaker Software
USA REGULATORY WARNING: It is against the law to solicit U.S. persons to buy and sell commodity options, even if they are called ‘prediction’ contracts, unless they are listed for trading and traded on a CFTC-registered exchange or unless legally exempt. Offshore binary options brokers are not supervised, connected or affiliated with any of the regulatory agencies such as the Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA). If the broker is regulated in the U.S. (like FOREX.com) you can file a complaint here: http://www.nfa.futures.org/ . You can also file a complaint with the state's attorney general where the company is located.
Although offshore binary options brokers are prohibited from soliciting U.S. users, it is not against U.S. Law to for U.S. citizens to sign up with them. At the very least I'd check to see if they are regulated by Cypress, the U.K., or the European Union. Currently the main binary options regulator in Europe is CySEC in Cypress.
Currently, more than twenty binary option brokers are regulated by CySEC. Cyprus is a member of the EU, and the CySEC license is accepted by all EU countries. No CySEC regulated brokers accept binary option traders from the United States. Read more about European registered binary options brokers: HERE
MUST READ WEB SITE: BINARYX.com - of course it appears this site owner is getting paid like an affiliate - to send people to all those Binary Options trading site links. Just put your cursor over the links. HOWEVER, this site does have some eye opening info such as who is regulated and who is not. You will find, most of the regulated trading websites don't take American trader accounts. CedarFinance is one in Cypress that does. But it's platform cost me hundreds of U.S. dollars one night - by taking up to 4 minutes to close out trades that usually close out in seconds. I would NEVER go back to Cedarfinance.com after that nightmarish experience of winning multiple trades - yet having to stare in disbelief as those wins turned into loses, because they took 30 seconds to 4 minutes to close out.
RECOMMENDED READING: Currency Trading for Dummies
20 May 2015 - Manipulating the Foreign (FOREX) Currency Exchange Markets: Five banks plead guilty, pay more than $5B in FX penalties
/s/ Steve Keohane
- Sleaziest of Sleaziest: Overseas online FOREX Currency trading companies - bibleprobe, 05.08.2015 (scams)
- Sorry to say, World Net Daily is helping this sleazy auto trading robot scheme - bibleprobe, 05.13.2015