The Binary Options Scam World
In recent years, hundreds of thousands of customers have invested in binary options and lost a lot of money. According to many expert opinions, binary options are prone to fraud in their applications and hence banned by regulators in many jurisdictions as a form of gambling.
The US FBI estimates that the scammers steal $10 billion annually worldwide and thus is investigating binary options scams throughout the world, and the Israeli police have tied the industry to criminal syndicates.
Many investors have not understood that binary options are a game of chance and not an investment. In addition, very few binary options providers were registered with the relevant financial market supervisory authorities. And last but not least, there has been a lot of fraud and customers have allegedly been cheated out of hundreds of millions of dollars. According to the responsible authorities, dozens of reports of fraudulent investors with a loss of several hundred million dollars have been filed in German-speaking countries alone.
VELTYCO – A European Binary Option Hub
One problem for investors is that the respective providers were and are not available to them. Many providers such as ZOOMTRADER or ZOOMTRADERGLOBAL have often changed their banking operators. At ZOOMTRADERGLOBAL, for example, it was first the NOVOX CAPITAL LTD regulated by the Cypriot banking supervisory authority and today it is the FINEX LTD regulated by the Bulgarian and Lithuanian supervisory authorities. With Option888, operators have changed so often that investors can no longer have an overview.
The full article is available to FinTelegram members only. Please login or register now.