Binary options Brokers

[davidfielder]

You didn't answer my question about whether you are plugging them for profit or not. I couldn't care less if yes or not. I just like to know people's interests. Like me, I will shamelessly plug binary options as an industry and any broker that appears on my site. I am not against this provider, just pointed out some issue that "looked bad" for the way you presented it. that's all

 

[catchacold]

I thought i was pretty clear in my response, anyway happy trading.

 

[davidfielder]

Wasn't referring to IG

 

[Millioner]

hello traders ?

can someone tell me any bad experience with BetOnMarkets, as a fixed odds financial betting or forex broker ?

Thank you in advance.

 

[moka2]

Lets look ta a "Regulated" offering from Australia!
I wonder what those other "Ofshore" BO providers havei in fine print
Soem peopel on thsi foroum wil tell you that Dismiss the following as "nothing to worry about"
Take that decision at your own risk
This should raise few red flags ( Australia supposed to have a good regulator but even they are coy to put pressure on OTC providers so what can you sya about smaller jurisdictions)


In the PDS it says
7.5. Credit Risk
Binary Options are traded over-the-counter (“OTC”), which means they are not traded via a regulated exchange. Hence they are a transaction solely between the client and CDM Pacific. Our obligations to make payments in respect of the Binary Options are unsecured obligations of us, which means that the client is subject to our credit risk. If we were to become insolvent, it is possible that a scenario may evolve that we would become unable to meet our financial obligations to clients. Investors must do their own due diligence and make their own assessment of our ability to meet our obligations in respect to the above mentioned situation.
10. CLIENT MONIES
Funds deposited by clients are deposited into a segregated client trust account held in accordance with the Corporations Act.
For money deposited in our segregated client trust account, the client is required to acknowledge that:
a) individual client accounts are not separated from each other;
b) all clients’ funds are co-mingled into the one client segregated account;
c) the clients’ money provisions may not insulate any individual client’s funds from a default in our client segregated account. Such a default may arise from any client’s trading;
d) assets in the client segregated account belonging to non-defaulting clients are potentially at risk, even though they did not cause the default;
e) We are entitled to withdraw, deduct or apply any amounts payable to us under the terms of this PDS or the FSG or the Corporations Act;
f) We are entitled to retain interest earned on client money held in the client trust account. The rate of interest is determined by the provider of the client trust account facility.

 

[davidfielder]

Wow - that's it. I am convinced. No one should trade binary options.
You didn't have you money with one of the banks that crashed in 2008, did you?
Hmmmm who are you suing to get your funds back?
How many pennies on the dollar will you see?

Dude - wake up and smell the really bad kiosk coffee !
Regulators ARE NOT THERE FOR YOU
They are there for the tax authorities and for the mega brokers themselves

 

[Liquid validity]

http://www.trade2win.com/boards/fix...4-binary-options-con-scam-11.html#post2006916

 

[Kevin Hamilton]

i have been working with VIP Binary for about 3 month now, and their brokers assistance seems to be working just fine i have a 75 win percentage in VIP Binary, which is way more better that what i got in other sides, i will recommend you to give it a try and start an account on VIP Binary.

 

[moka2]

Have you withdrawn any money?
No street Address?
Alarm bells

Have a look at this Live Chat support

MIke:
Hi WHich country are you based in and regulated and how is client money held?

Welcome MIke! Your request has been directed to the Customer Service department. Please wait for our operator to answer your call.

Call accepted by operator Jasper. Currently in room: MIke, Jasper.

MIke:
Hi WHich country are you based in and regulated and how is client money held?
Jasper:
our site is located in New York
MIke:
NO what I am asking is which country are you regulated in
Jasper:
USA
MIke:
so are you regulated by NFA?
MIke:
and what is your NFA membership no
MIke:
I am not aasking about where the website is.. I am asking are you regulated by US authoritis?
MIke:
and what is your street address
Jasper:
and i answered you ye we are regulated by US auth
MIke:
ok then give me your NFA membership
MIke:
I want to know if your firm is legit financial broker / service provider in USA.. you don;t even have a street address, NFA membership anythung

 

[duyk20]

Market Punter is regulated Binary Options broker in Australia. More here: Market Punter Review - Is Market Punter a scam? | Binary Options Broker Reviews

 

[Kevin Hamilton]

Have you withdrawn any money?
No street Address?
Alarm bells


Hi Moka2,

Yes so far i had made 2 to complete withdrawals with VIP Binary. they do take their time but i did get my profits back to my bank account.

 

[moka2]

Yes market punter is Australian regulated... so nobody claiming that it is a scam
However
1) All the variosu risk factors of MM, OTC remains the same
2) Although Australia has a godd law of the land.. the watchdog ASIC many times has been a toothless watch dog. FOR example irrespective of few Australian OTC broker collapse and global collapses of MFG etc ASIC/ Australian money rules as they apply for a NON ASX participant broker offering OTC products ( FX,CFD, and 1,2 Boinary Options) ARE NOT ADEQUATE.
IF BROKER GOES DOWN YOUR MONEY IS toast
3) Client Seg avvount is ONE single account
ON ASX option market you can build your own Binary same as on US market

 

[moka2]

MR Hamilton read the Q&A which I had with VIP options
They claim to be US regulated.. LOL

 

[moka2]

By the way it has becom3 more common for "Periferial" fianancial service providers to obtain ( read rent) a "Authorised representative" licnence from somebody who has a AFS Liencnce
Legit but one more alarm.. if such an entity is solidly funded why don;t they go through the scrutiny of getting a Licence on theor own!

Romad shaken, stirred at licence loss
Regulatory loopholes exposed

 

[moka2]

ASX market participants must calculate their liquid capital daily and report it monthly to the ASX. If minimum liquid capital falls below certain thresholds the reporting requirement becomes daily. The reports are 73 pages long. Shadow brokers do not have to report this at all.

Indeed, according to the Australian Stockbrokers Association's Doug Clark the greater level of surveillance and enforcement is reflected in the very low complaints figures to the Financial Ombudsman Scheme - where complaints about stockbrokers fell 75 per cent in 2010.

"With ASIC able to fine stockbrokers up to $1 million (but not shadow brokers), this also ensures that compliance standards are high," Clark says.


Read more: Regulatory loopholes exposed

 

[The Pear]

Hi mpetters60

You make some great points all freely available on youtube video's, imploring everyone to NEVER take a bonus, as the 'lock' in clause requiring you to trade 20 x your bank value etc etc effectively means you have lost your money. My research points towards IG but still have had no feedback positive or negative regarding IG's binary platform and their pay out credentials

I have used IG for many years. As a quoted company you would not expect them to mess around with withdrawals....and they dont as far as I am concerned.

we must remember that they can action a payment today but its the banks that are really holding everything up so 3 - 5 days is (or should be the norm).

I use binaries purely for a flutter - I can not regard them as anything but a punt...although you can have some fun when big news figures come out - you just want to make sure they are priced up correctly.

 

[The Pear]

Sounds like you work for them. 75% is extremely high for binary options and all trading for that matter.

Why don't you back that up with a screenshot of your portfolio tab.

I'm with you on this one MB - 75% just dont do it for me. How do you do it Kevin?

 

[dave114a]

Hi all haven't been on here for a while and stumbled across this thread so thought I would drop my two penneth worth in!

I don't want to sound patronising but please, please realize that as someone posted earlier, that all financial trading and investing will always make money for the dealers or brokers first, the 'punter' second. When trading shares (particularly on AIM) the market makers will move the buy and sell spreads to lock trades into positions, Forex brokers will slip spreads and give different price feeds on demo and live accounts and heck, even banks will sell you PPI and drop your interest rates at then end of your deal. My point is that all of these organisations are 'regulated' and they still screw you over. Don't get hung up on regulation. In the UK - endowments, PPI, pensions... the list goes on. All regulated in one of the most regulated countries in the world by the FSA!

Binary trading is betting and has been known as such in the UK for years. BetOnMarkets were out years prior to the current binary 'trend' and at least they are more honest by calling their product a 'betting' rather than a trading product!

I worked closely with a number of early adopters of binary platforms and I can tell you now that they have to balance the books at the end of the day and if this means turning on spreads, logging you out of the platform or any other such dubious activity they will. To some degree this is probably preferable to them not doing it as if they don't then they won't have the money in the kitty to fund your withdrawal request - a common reason why so many people complain of delays. And those big bonuses that you can't withdraw? They know that statistically that 95% of traders will blow their deposit and more, so the longer they can keep you trading in your account the more chance you have of losing the lot.

If you are going to trade with binaries then for sure, stick with the bigger more established binary brokers who have enough capitalization to keep their business running and avoid any of the smaller or newer brokers like the plague. Did you know you can open an online broker business for just a few thousand pounds? I doubt anyone would feel confident with trading with these companies if they knew this however.

On the subject of IG they are as good and bad as any company out there. They do play games when you have serious stakes but the fact that they are so big (and therefore have a large 'losing' clientele) means their shenanigans are less noticeable and you should have less problems with these guys.