You can fool all the people some of the time and some of the people all the time, but you cannot fool all the people all the time . Abraham Lincoln, (attributed)
16th president of US (1809 – 1865)
Binary options have been treated for many years as a new magic weapon for retail investors. A simple concept promised instant wealth. Even without sound knowledge about financial markets. In fact, binary options have always been a game of chance. Millions of investors have de facto being attending a casino and not on the stock market. Their trades were bets against the house. In addition, the casino also operated with manipulated systems to defraud their casino players. New traders were shown high fictitious profits in the dashboard. In fact, the money had long been in the pockets of the operators. Blinded by the fictitious profit, the traders continuously invested new sums. They were bombarded with calls and promises of high and secure profits by the tenacious Boiler Room staff. In fact, most merchants lost their money.
What remains are billions in losses for naive retail investors and court cases that will occupy us in 2019 and beyond.