Yes, I read it too along with this even more horrific case: The terrible cost of binary trading fraud: father of four commits suicide after losing £183,000 - Andrew Penman - Mirror Online I’m so disgusted, I can’t believe such thing is possible. And now this company refuses to take the blame. I hope they get punished for what they did. How do they sleep at night…There is another useful article: Binary trading - the supposed money making scheme that’s a dangerous gamble - Mirror Online
Avenged, honestly I don’t think that you will receive your money back but keep tormenting them until they give you some kind of explanation and report them.
I hear you , Carlos. I’m sure they eventually will. I see that more and more countries and governments are slowly but firmly banning such scammers, even the FBI has issued a warning for Binary Options. I guess that in the near future they will be forbidden worldwide.
Hi Avenged. You are sure to be one of many, myself included.
www.IBAMarketsScam.com is spreading the word about their scam! You might want to make contact with them.
For anyone watching this thread, IBA Markets have gone to ground (not answering calls, emails and now their website has disappeared). But they are still around under different names.
They say that reality is stranger than fiction and I’ve come to firmly believe in that saying.
British magnate Sir Richard Branson, owner of the conglomerate Virgin Group, has warned the public that criminals are using his name to dupe people into buying fake investments involving binary options.
According to the City of London Police, Branson has spoken out after a growing number of fraud victims are complaining to the police that were scammed by fraudsters claiming that he, or his companies, are involved in the investment hoax. Victims have also contacted Sir Richard himself, claiming they have invested in his companies.
I don’t know what’s weirder – that the scammers are using the name of a company that actually has nothing to do with binary options or that people believe them.
I’m just appaulled at such a level of fraud and arrogance, I have something to learn from that. Maybe I’ll also become a trader!
The level of fraud and arrogance is higher than any of us suspected, it turns out.
Israeli crime syndicates have been profiting from the binary options scams, Gabi Biton, a police Superintendent investigating financial fraud and money laundering told a Knesset panel.
“Our eyes have been opened,” Biton told the Israeli MPs. “What we’re seeing here is a massive organized criminal enterprise. We are talking about criminals at various levels of crime organizations, up to the very top.”
I would say “unbelievable” but I do believe it.
Why I am not surprised?
“In his speech the senior police officer admitted the authorities have failed for a long time to realize that the binary options industry was a scam and that behind it were standing organized criminal groups who profiteered from it.” Failed for a long time to realize this…really…like so many complaints from robbed clients were not enough to open their eyes and initiate a more serious investigation? And how exactly did these so called “brokers” receive license and regulation anyway? No one is buying this anymore, it is obvious that they did not want to open their eyes not that they couldn’t do it.
The good news is that more and more countries recognize the risk posed by binary options and the scammers that often offer them and are taking the appropriate measures curtail said scams. After Israel Canada is the next large, influential country that decided to explicitly ban binary options – they made it illegal to advertise, offer, sell or otherwise trade binary options shorter than 30 days with any individual residing in in the country.
“Binary options are the leading type of investment fraud facing Canadians today, and the impact of this kind of scam on individuals is staggering,” said Louis Morisset, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers, quoted in a CSA official statement.
Live in the US and trade binary options/spreads through Nadex which is government regulated. Never any issues.
Nadex is just one broker. There so many others out there that cannot be trusted and which are out to rip off their clients.
Only earlier this month the Belgium regulator warned about ten different forex and binary options brokers. According to the regulator people who have invested with those companies have never recovered their money and most likely have become victims to fraud. Some of the brokers on the list have multiple warnings by multiple regulators all over the world and yet they continue to operate with impunity.
I do binary options its for fun only… my goal is to hit 25 streak in a row starting one dollar each time. If I loose that dollar then I dont compound for two trades and make it back. This is extremely patient and JUST FOR FUN. I deposit 10$ at a time, and that is if its a gift or i got it from somewhere.
Who in the Gods name deposits 1000s of dollars. And the bonus thing is clearly written on their website. I never take bonus… Paul is the biggest idiot in this…Why the hell would someone give you money for no reason? There has to be a catch, its common sense… more than broker i was getting angry at Paul… C’mon Paul!
Unfortunately, most brokers of binary options are scammers. If you want to safe your money, you have to look at the feedback and regulation before investing
More regulatory bodies and major business ventures are waking up and banning binary options left and right.
The latest one is Google, believe it or not – they just banned binary options apps from their Google Play app store. And they’re doing it almost a year later after Apple did the same for iOS devices.
You’re right, since binary options are very popular a lot of scam companies exist, that why you have to choose your broker carefully.
Yup. Only works if you’re able to not be sidetracked and you can stay disciplined. Definitely not for those with gambling tendencies. Buuut sometimes people discover that propensity a bit too late.
Oh wow. There was a time I kept seeing ads for these things everywhere.
Me too, but that time is in the past apparently. At least for now.
I guess it’s not just a coincidence that Google and ESMA are banning them altogether but I’m not surprised. Excellent decision!
ESMA just prolonged the binary options ban with another three months, starting from October 2, 2018. I doubt this will be the last time they do that.