Indeed … exactly so.
Several countries are actually making **** illegal, at the moment, and/or have announced their intentions to do so shortly.
And there are reasons for that - wake up and think about them.
Trading forex binaries has [I]some[/I] similarities to forex trading, certainly, but the reality is that it also has an [U]additional[/U] disadvantage to aspiring traders in that in addition to all the normal problems and difficulties and requirements of trading forex successfully, there’s also a significant, [B]extra[/B], built-in house edge to overcome [I]as well[/I].
Nobody’s saying it’s impossible to profit from binaries. The point is that anyone who can profit consistently from binaries can profit even more from other kinds of trading (as indeed some people can and do) because they have a much smaller built-in adverse edge to overcome with other kinds of trading. It’s a no-brainer.
A[I] long, slow, careful[/I] read through this thread may assist anyone interested: [B]301 Moved Permanently
The words “**** broker” are all you need, to identify the “scam”: the [U]business model[/U] of **** y options broking itself, compared with that of most other brokerage models, denotes an operation with the deck permanently stacked against the “trader” (actually “gambler”).
Neophyte traders traditionally have some difficulty understanding what a “broker” is, and online promotions, together with absent regulation over the usage of the term “broker”, predicate that they widely fail to appreciate that a broker is someone who executes, on his client’s behalf and in exchange for a commission-fee, a trade in a market to which the client himself doesn’t have access, rather than a counterparty against whom one has a bet while the (typically unregulated) counterparty holds all the funds and both makes up and interprets all the rules, policies and procedures governing the transactions.
We all decide for ourselves how we want to “trade”. One thing’s for sure: betting against a counterparty, under those circumstances, is a fairly sure-fire way of stacking even further against oneself a deck which is already adversely loaded. :rolleyes: