Binary options trading. scam?

Last Update: November 06, 2014

General overview:

Making money and lots of it, we all want that don't we? We have been deluded by many, such as The 100k Club, Spot on Option, Binary Option Auto Trader, and many more. They have been advertising Binary Options. What are binary options? These Binary options allow you to trade in currencies, stocks and bonds, and you can place a trade whether you think that the current rate will go up or down, the minimum trade is up to $25 dollars and upwards. Trading in these fields can be rewarding, payout up to 60%, but are also very risky and you could lose all your money.

Who is it for?

It is designed to attract those who want to make easy money so it seems. It attracts the money hungry and that's basically all the population on this planet above 18 years of age. Cause lets face it, we all want to make money and when we come across these sites it is very tempting. I myself invested a small amount just to try it out, and believe me it was one the most stressful experience I have had. I managed to stay in that trade for one week until I lost my money.

Main features:

Screenshot - 4_11_2014 , 4_06_12 μμ

As you can see from the snapshot you have the option to choose what you want to trade in and you have a graph that tells you if the trend is an upward or downward trend. What you have to do is decide if you want to bid on the up trend if you believe that it will increase or bid down because you believe it will decrease by clicking either the up or down buttons. Depending on the time frame you chose, gives you a higher return, as the example above, I believe it is the 60 second time frame which pays out 85% return, however, as you can see on the graph it could drop well below in an instant and could climb rapidly also.

I would like it if you could visit this site and give me your critique thank you.

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EuniceH Premium
Hi Andrew, thanks for this. I narrowly avoided investing a fortune (to me) some years ago, in a course teaching you the ropes. Your experience makes me even more thankful that I avoided the trap.

I went to a presentation and got drawn in by the hype and couldn't wait to give them my credit card! Fortunately, when I got home and came back to earth a bit, I took the time to do some internet research and quickly realised that I had made a serious mistake. Fortunately, they honoured the money back guarantee if you cancelled within a certain time frame, otherwise I don't know what I would have done, as they were a UK based business and I am in South Africa
mundy22 Premium
Yes, you have to be very careful even in a person to person consultation with a brokerage, truly do your homework just to be on the safe side..
CarlaIves Premium
I've seen it advertised, but I really don't understand it. You came closer than most for me. Thanks for the explanation.
Funmine Premium
Thanks for sharing your personal experience. I can see why it is a stressful venture. Will definitely not fly with me.
katzee Premium
Or me - the lack of control - not knowing if you are pushing the button in time before the stock dives in the next split second would drive me crazy.
Moonrock2 Premium
This is high risk of loosing your money.
JohnAllen Premium
Interesting stuff. Keep doing what you are doing because a lot of people are loosing a lot of money in the hope of making a fortune. They would be more likely to win on the slot machines.
mundy22 Premium
It is exactly like gambling the odds are the same.