Binary Options (Part 3)

Don't Gamble on Binary Options

There are lots of ways to lose your money in this world but here’s one I hadn’t encountered before: binary option Web sites. They have become popular over the past few years with new ones appearing all the time: anyoption.com, bulloption.com, spotoption.com, binaryoption.com, etc. etc.
The sites appeal to the same type of people who play poker online. But they somehow have an aura of being more respectable because they represent themselves as offering a form of investing. Don’t kid yourself. These are gambling sites, pure and simple. It’s probably just a matter of time before regulators move in on them.

I agree, I think most binary options operators will be forced to become regulated in order to attract the bigger investors. Call it gambling if you want, but at the end of the day, it’s another channel investors can use to monetize their speculations on the movements in a wide range of underlying assets. As long as it’s a fair playing field (ie the brokers are following the rules), there’s no reason investors can’t use these financial instruments to help them pull more money out of the markets. Here’s an interesting interview with the CEO of one of the main binary players in the market today, Bbinary, that touches on these issues: http://forexnewsnow.com/top-stories/get-to-know-a-broker-banc-de-binary. Dave

Source: http://www.forbes.com/sites/investor/2010/07/27/dont-gamble-on-binary-options/

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According to Margaret, "I deposited $300 three weeks ago. I traded for two days I went down to $279. I decided to withdraw, and no one answers my phone calls or emails but when I was trading they called me every day to get me to invest more money. Now I cannot get a hold of anyone I am very angry. Please do not do business with VipBinary. I wish I had read these posts first before placing my savings with these thieves."
Mark affirmed: "The so-called account managers push you to make more deposits and 'advise' you to invest in one of them for which 100% the risk should be assumed by yourself. Eventually, you will lose the money. And yet they want you to deposit more for further trading. They suck me $2,000. When I place a withdrawal request, they keep cancelling and nobody gives you an explanation for the reason. At interval time, another person will call and ask for further deposit with a promise of bonus, but if you talk over your withdrawal problem, he would not help you. I advise to avoid these scams. Once you lose your money it is gone. Anybody can advise me how to get it; you are really welcome. I am wondering if the US Attorney General could intervene for the lack of best business practice."

Source: http://voices.yahoo.com/watchout-dangers-binary-options-trading-12268977.html

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