Saturday, 27 August 2016

Binary Options - the new Frontier



I recommend some Binary Options People you can rely on. 24option the most trusted in the world - with full regulation, Here's what some professionals are saying about them.....

"Some Binary Options brokers are just a Scam, some just Suck. 24Option is a member of the exclusive list of brokers considered to be highly respected and truly inspiring. Thanks to CySec regulation we can revoke any suspicion of a scam by 24Option and an attractive easy-to-use trading platform with a good customer service makes 24Option a user friendly prime and trusted broker."

"The management team at 24option is committed to their customers’ success by providing industry-leading service, features, asset choices, payoff ratios, and a user-friendly trading platform that makes trading fun, enjoyable, and profitable. You will not find a broker that has received more awards and commendations than 24option. They have set the bar extremely high for their competitors and have achieved a large and loyal following for being fair and focused on the right elements in the binary options arena. You would be hard pressed to find a broker that surpasses this one at any level, and their reputation, established over years of achievement, speaks for itself."


BUT WHAT HAPPENS IF YOU CHOOSE SOME OTHER THINGS?




I'm not Gordon Gecko - but after a few forays into the world of Binary Options Trading I reached a few quite informed conclusions, not based on Mr Douglas's Characters knowledge of the Markets but on some common sense and a feeling that this has become the new Frontier - fraught with almost as many virtual hazards as any Pioneer might have in the 'olde days' where Maps said "Here be Dragons!'

How many People have been inundated with Email promising to make them a Millionaire in a few Minutes? That all you have to do is subscribe to their "Free" software and you will live the lifestyle of your Dreams? Seen those Videos of posh Cars, Ladies, even posher Houses, the inevitable cliched Photo's of some exotic place - probably copied from a Holiday Company Brochure. How many of you have thought that if anyone approached you in real life like they do in their Email you might ignore them - or even tell them to £%&^£ off!

That the "Free" ends when you get referred to a Broker who contacts you almost immediately asking for a £250 Deposit. This they do before they ask you for any Accreditation - ID Documents and the like - which is weird because no Bank would even let you open a Deposit Account without some proof of ID. Suffice to say that while they might get yer Money with a read of your Card Number, Sort Code and CVV Code - you can't re-access it quite so promptly while your Accreditation has to be 'approved'.

Then how about the Software that got you into all this to start with? One has a 'Demo' Account, which created the impression that everything is prompt, accurate and lucrative.Wow I thought, but after a while it prompted a few questions from me. The first was why as soon as it starts it does so at the same value on the same Currency Pair every time? How the same Names of 'Winners' always appeared telling you "so and so has just won.... etc". The fact is that this 'Demo' is rather like any artificial intelligence game - which might have some interactivity but all of it is pre-programmed. Sim City might let you create Trading Estates, Housing, Civic Infrastructure and everything else that makes a Metropolis work - but it isn't wired into City Hall. Unfortunately there is nothing to tell you that this 'Demo' isn't actually trading Monopoly Money in Wall Street, so the impression it gives is very misleading. Someone somewhere will 'go through go' but you might not necessarily collect £200!




How about the Pitch that got you to the Software - or at least that online Video you see where they ask for your Email and Phone Number? Actors ( and you half expect them to look like Robert Redford and Paul Newman), some glamour puss draped on their arm (probably from an Agency), that sleek Car - a rental - maybe even some Real Estate - which you could photograph or film using a reasonable quality Digital Camera - just stand outside House/Condo of choice, Testimonials - probably Friends and Colleagues, maybe even Photos lifted from Google Images/Facebook/Twitter etc - and those Screenshots of Bank Statements. Photoshop Guarantees and Money back pledges, drone, blah - it's almost become a parody of itself.

Then there is the Propaganda and Counter-Propaganda. Websites - decrying one and promoting the other - usually because one works for or knows, been payed by - those behind it, some even copy and paste the Blurb written by them and call it a "Review". One I wrote to - where my Name was changed - another asking for my Email Password, both of which seemed rather like the very sites they write about!

In the end, if whoever responsible for it is that confident that their Program works - and will make you anything like the Money they claim - when they do contact you ask them if you can borrow the paltry £250 to set it up. Mere Bagatelle to People who will make you "half a Millionaire in 30 days", and when you have made your first few 1000 - you could meet them, do all that stuff the Bloke in the Video does, or just celebrate your good fortune with a Meal and Night out. Not only do they get their Money back they also get to live up to their own Hype!

As People look for alternative incomes and solutions to minimal wages and unemployment these People are potentially very exploitative, while the actual premise of trading on the Internet is as sound as sending Email and all the other good things it offered.

HERE'S A REAL LIFE STORY THAT PROMPTED ME TO WRITE THIS..........

I read heaps of reviews about a certain Auto Trading Program, saw the Videos, those "Live Trades" etc, and after a few days decided to do it. Suddenly all those reviews are null and void because I got assigned this Broker - and the complaints seem almost as omnipresent as that Programs reviews.

Almost instantly, my back was up. Clicked on "Chat" for the Brokers Website and it doesn't work. Fine, so I'll contact the Support People at the Software Office. Ahh, can't be found - at least not until I make my Deposit. So much for their vaunted "Superb support" etc. Asking to get them to assign me a different Broker, y'know - like the one all those Reviewers use.

Because of this I have not made my Deposit because it all looks very flaky. I don't think it's right that these Software Companies can operate a System of Pot Luck when it comes to which Broker you use, while I think you should have the Option (no pun intended) to choose which one you want an Account with.

This will put People off - and I'm not surprised, while the stuff I'd read about a Broker affiliated to that Program looks like the sort of thing we've come to expect in the shadier areas of Binary Trading. I hope that the Software people sort this out and maybe they should reassign any Customers with the Broker their glowing reviewers use.




There were a few questions I had for the Software People...

The first and obvious one being the Broker Assignment - that they should tell you which Broker you will have BEFORE you sign up.......surely? That you don't open a Bank Account with HSBC - only to find you've got one with Nat West, or say that HSBC has "HSBC" in big letters on the Premises.

That the 'Reviews' are not only with a Broker I didn't get assigned to - they are based on 10 Minute Trades. My Broker doesn't offer those - so - how can the Software work?

That they might claim their Program makes a lot of Money - but that means diddly squat if you can't withdraw it.

That the Website the Broker uses looks suspiciously like some of the less than reputable Sites operating at the moment. A new word can be added to the lexicon of Hypespeak - "Viral" - which sums it all up - perhaps unintentionally!

Here are the main - and quite common - criticisms People have had about this particular Broker...

That they can't make a Withdrawal.

That the Broker does Trades for them - frittering away any Profits, Balances and Deposits. This isn't with any Autotrading Software, just individuals working for them.

Completely stonewalling any attempts at contact and communication.

All of this is why I'm reluctant to continue because regardless of what any Software Program might claim, it's rendered meaningless if the Broker is shonky. That it might make you Money - but that could easily disappear if they do Trades without your consent.

The crucial bit is when you transfer Funds to your Bank Account, until then your "Balance" is meaningless!

The things that put me off were.....

How I couldn't contact the Software providers UNTIL I made a Deposit

How the reviews were for 10 Minute Trades - not available with that Broker (thus; irrelevant). Do they really check their Brokers for compatibility?

How there wasn't even a "Withdrawal" facility on their Webpage.

That the Video wasn't working like any YouTube Vid might (ie; You couldn't replay it)

How the Brokers "Chat" Facility wasn't working.

Some of this suggests that their Website isn't up to the Job. After all, how could you do a manual Trade soon enough if you have to struggle with the HTML to get it to work at all?

Also, 'Trading' must be quite difficult if there isn't a 'Trading Platform'. (which any site usually shows - even if you have a nil Balance). If I could post a Screenshot of their Website - and one of the many serious Trading Sites - you will see the difference between what any namesake Trader might use - and what can be done with Wax Crayons and bits of coloured Paper. I'm not saying any Sites should be overly complicated, but there wasn't very much to work with at all.

So if you can't access any trading page how do you know what you are going to be using?

It was similar with some Autotrade Programs. That there wasn't any "Contact Us" on the Page at all, while when I googled them what that showed looked nothing like what I got sent to after clicking their Email and subsequent Application Form.

In the end, my Conclusion was this.......

That the (Software) Web-link I clicked on must be a Spoof. That if People could spoof Paypal like they did a few years ago they could do with this

The Giveaway was how it didn't have an SSL Certificate. This is the Padlock and HTTP you see in your Browser. If this isn't there then it could be someone spoofing the Site - using a temporary Domain to do so. It also means that there is no secure Connection with the Provider, thus anything you send or receive can be read by any third, fourth, fifth etc party who cares to.

In other words I was right not to continue with the Application -while equally right not to use Autotraders that look amateurish.

Watch this Space for more - as I continue with the next instalment of a Story that was at best frustrating at worse traumatic.



Click below for something rather more reliable..........







By all means share this to Facebook, Twitter etc

7 comments:

  1. Meanwhile, it seems CySec have published a List of Binary Options Companies they warn against, at least according to this.....

    http://www.financemagnates.com/forex/regulation/cysec-publishes-warning-list-of-over-100-unregulated-brokerages/

    I'm starting to think that the Binary Options Scam is done as this could be the first stage in many being closed down or lose whatever License they have.

    ReplyDelete
  2. What confirms that is how it seems the biggest supplier of Communications Infrastructure in Britain has dropped their Affiliation with an Options Company - even a reputable one. That maybe all of it seems to have acquired an irredeemable Rep of Scams - too many complaints and irked People.

    What is perhaps even more sinister about some of the less reputable Companies isn't necessarily how they might scam you of £250. It's how they obtain all sorts of other Stuff in that Process. Your Passport, Driving License, National ID Card, Utility Bill, Municipal Correspondence (letters from Council etc) Bank Statements with IBAN and Account Numbers, Details of any Direct Debits (a Security Question Banks will ask when you phone them is usually about that) and potentially most damaging of all - your Debit/Credit Card Details. They tell you their Computer deletes the CVV Number as soon as you've made a Deposit - but what's to stop them from jotting it down somewhere?

    Considering the Scale of Organisation I wouldn't recommend a high Resolution Pic of your Passport either. This could be forged from that, while if a Black and White Photocopy suffices for the DWP and Employer Records so something that just shows the necessary Details should too.

    ReplyDelete
  3. Meanwhile, in the US they have Regulation of Binary Options Companies that includes prohibiting them from cold Calling to tout for Business. Shame we don't have it here. When do these People start becoming a Nuisance? The only Company that has any real market Presence in the US is NADEX - probably for that reason.

    ReplyDelete
  4. Meanwhile, here's an Historical Diagram for everyone from former Archbishop Envoys to anyone in the Yippieocracy who tries lumping us in with any Islamic Extremists......

    I decided to post this in all these Threads for those who haven't read it.

    https://metrowynn.blogspot.co.uk/2016/11/arthur-balfour-to-king-arthur.html

    ReplyDelete
  5. BINARY TRADING
    What is binary trading?
    Binary trading is an online platform where investors invests and earn a profit of about$1000USD daily and $6000USD weekly join the award winning Trading Option where you invest and get 98% profit in less than a week.
    wow! how does that work?
    well as an expert broker and a proffesional trader an investor, i make over $25000USD weekly and $1000USD daily by investing with 24option.com. me and a group of expert traders and brokers have helped many earn up to $15000USD weekly using marketworld.com .all in one deppending on how much you are illing to trade or invest with.
    it is 100% genuine and it is the leading trading option anyone could ever think of trying. if you are interested feel free to text or email me with alexandramichelle663@gmail.com and i will give you a lucid explanation about Binary trading. i look forward to reading from you.

    ReplyDelete
  6. This is one of the most interesting and well thought articles I have ever read on binary options. A+ on this one. Looking forward for more interesting articles.

    Luke from trading secrets

    ReplyDelete
  7. If you get a Phone Call from these People.... 02037000000, don't answer it. When you do - and speak to someone called Elaine - you try and politely tell them that you're not interested, like I wasn't - because somewhere in the Conversation you will be asked to make a Deposit in some Trading Company - they start getting sarcastic with you. You then say - "if you're gonna use that tone with me I want to speak to your Boss" they continue being sarcastic. It's here that you stop being polite!

    ReplyDelete