fraud warning: binary trading platforms are a scam

Scam Alert: Why “Binary Trading” Is Simply Nonsense

WARNING: Never use any Binary Options platform whatsoever, period! Binary trading is betting, not trading, and total nonsense. Binary options through proprietary platforms do not make any economic sense and do not have anything to do with “trading” as it is wholly disconnected from ANY real market.

Trading means being an actor in the market, whose strategy usually is to Buy Low and Sell High in said market, most certainly not on somebody’s proprietary “binary trading” platform that’s wholly disconnected from any real market whatsoever and is NOT AN EXCHANGE, NOT A FOREX MARKET, NOT AN OTC BOARD but, in fact, nothing but some sort of casino

And we all know that the only ones reliably and constantly making money in a casino are the casino operators. Simple as that.

Almost each and every one of the Binary Options platform I have seen out there so far, or heard of from some of my trading friends, is using one algorithm intercept or other in order to either parallel-trade, front run, and/or delay order routing one way or the other. (I admit that parallel-running and similar scams can even occur in conventional and real-world trading though; I once had a very bad, but highly educational (for both sides involved…), encounter with a fraudulent commodities broker at Ironbeam, Inc. in Chicago; but that’s a different story and goes beyond the scope of this article.) Many of them have already been caught red-handed.

On top of all this, almost every trading platforms we have seen so far, whether based in Russia, Cyprus, Dubai, Malta or even more exotic off-shore locations, have cut-throat Terms & Conditions. We haven’t seen one that does not have “surprising” (as in illegal, not in line with consumer protection, UCTA or AGB legislation in any proper country or jurisdiction we know of) at some point or other throughout the usual multiple page long “legal” work the force down the throats of unsuspecting users by “I accept the terms” or similar checkboxes or buttons during platform sign-up.

Anybody promoting something remotely like this in order to make some money in referral payments gives us a chance to debunk this bullshit and hopefully save a few tears for anyone reading this.