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  • FIRST POST
    • sharpharp
    • By sharpharp 27th Oct 16, 3:10 PM
    • 158Posts
    • 73Thanks
    sharpharp
    Toroption - Anyone used it?
    • #1
    • 27th Oct 16, 3:10 PM
    Toroption - Anyone used it? 27th Oct 16 at 3:10 PM
    Hi,


    Anyone used the Toroption platform for dealing?
    If so, can anyone offer up their experience on using it
    Is it legit or a scam?
Page 1
    • AnotherJoe
    • By AnotherJoe 27th Oct 16, 4:20 PM
    • 7,244 Posts
    • 7,755 Thanks
    AnotherJoe
    • #2
    • 27th Oct 16, 4:20 PM
    • #2
    • 27th Oct 16, 4:20 PM
    Any post like this only has a very few possible outcomes;
    1. You are spamming on their behalf, so they should be avoided.
    2. If they had a fabulous get rich scheme that worked, they would use it themselves rather than give profit away, so they dont, so they should be avoided.
    3. They are a bunch of out and out shysters, so they should be avoided.
    4. The OP will be back in a few months to years, after disregarding the advice and losing lots of money, saying "I wish I'd avoided"
    5 Someone else will post saying "heed my warning, they are a bunch of out and out shysters, so they should be avoided"
    6. Someone from the company will post, either as an offended employee or as a highly successful user of the system, saying how wonderful it is.

    There are no working get rich schemes out there (unless its the owners getting rich, not the punters).
    • sharpharp
    • By sharpharp 27th Oct 16, 4:37 PM
    • 158 Posts
    • 73 Thanks
    sharpharp
    • #3
    • 27th Oct 16, 4:37 PM
    • #3
    • 27th Oct 16, 4:37 PM
    Thanks for your generic cut and pasted reply.


    I was simply asking because I saw the article on FinanceUK, I had a read up on binary options and thought i'd ask on here to see if it was legit or not. I would ask questions about any investment, as would many others.


    I wasn't asking in the expectation it was a get rich fast scheme, I was simply asking if anyone had used them.


    It's all well and good you cut and paste a message saying to dismiss it without any knowledge, but the forum is here to ask questions is it not? Someone with 3000+ posts like you should know better and be less arrogant.


    If it's a scam, then fine, but at least let me get some replies
    • dunstonh
    • By dunstonh 27th Oct 16, 4:44 PM
    • 89,518 Posts
    • 54,967 Thanks
    dunstonh
    • #4
    • 27th Oct 16, 4:44 PM
    • #4
    • 27th Oct 16, 4:44 PM
    I support AnotherJoe and his comments.

    If you have to ask if they are legit or whether it is a scam then it almost certainly means it is not for you. Even if it is genuine.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • AnotherJoe
    • By AnotherJoe 27th Oct 16, 4:48 PM
    • 7,244 Posts
    • 7,755 Thanks
    AnotherJoe
    • #5
    • 27th Oct 16, 4:48 PM
    • #5
    • 27th Oct 16, 4:48 PM
    eh? There was nothing cut and pasted about that at all ! I actually typed it all by myself with just two fingers, which i now aim at you.

    And with 3k posts seeing questions like this being asked repeatedly here "anyone heard of blah blah", I can tell you those are the responses you'll get. Sorry you took it so personally (or impersonally if you thought it was cut and pasted).

    IMNSHO anything involving options trading is a get rich scheme, unless you are super experienced in trading, in which case you dont need to ask.

    p.s. Yes i forgot 8 which Dunstonh came up with. "if you need to ask, its not for you"
    • bigadaj
    • By bigadaj 27th Oct 16, 8:08 PM
    • 10,006 Posts
    • 6,401 Thanks
    bigadaj
    • #6
    • 27th Oct 16, 8:08 PM
    • #6
    • 27th Oct 16, 8:08 PM
    Thanks for your generic cut and pasted reply.


    I was simply asking because I saw the article on FinanceUK, I had a read up on binary options and thought i'd ask on here to see if it was legit or not. I would ask questions about any investment, as would many others.


    I wasn't asking in the expectation it was a get rich fast scheme, I was simply asking if anyone had used them.


    It's all well and good you cut and paste a message saying to dismiss it without any knowledge, but the forum is here to ask questions is it not? Someone with 3000+ posts like you should know better and be less arrogant.


    If it's a scam, then fine, but at least let me get some replies
    Originally posted by sharpharp
    Binary options.

    Choose a share, toss a coin and either buy it or short it.

    Repeat until you lose all your money.
    • ChesterDog
    • By ChesterDog 28th Oct 16, 8:49 AM
    • 772 Posts
    • 1,334 Thanks
    ChesterDog
    • #7
    • 28th Oct 16, 8:49 AM
    • #7
    • 28th Oct 16, 8:49 AM
    Binary options is not a form of investment.
    I am one of the "Dogs of the Index".
    • Malthusian
    • By Malthusian 28th Oct 16, 10:20 AM
    • 2,885 Posts
    • 4,126 Thanks
    Malthusian
    • #8
    • 28th Oct 16, 10:20 AM
    • #8
    • 28th Oct 16, 10:20 AM
    Would you have preferred it if someone had cut and pasted a response saying "No, it's not a scam, it's absolutely a way that clever people like you can make free money"? Because if so you need a different forum.

    No-one ever posts a thread entitled "Is Hargreaves Lansdown a scam" or "Is NEST a scam" or "Is this diversified portfolio recommended by my regulated IFA a scam". Where a thread is of the form "Is X a scam" X is always either a binary options gambling site or an unregulated investment claiming to offer 8% per annum interest "guaranteed". Ergo, these threads are not created by people who actually don't know the difference between an investment and a scam, they are created by people who already know that binary options are a scam but are hoping that someone will tell them that actually they're wrong to be suspicious and it's free money for cleverness.

    You ask someone to tell you what you already know and then get antsy when they do exactly that. Rather bizarre.
    • BananaRepublic
    • By BananaRepublic 28th Oct 16, 1:24 PM
    • 820 Posts
    • 577 Thanks
    BananaRepublic
    • #9
    • 28th Oct 16, 1:24 PM
    • #9
    • 28th Oct 16, 1:24 PM
    I must admit that AnotherJoe's response does seem a bit snidey or smart-alec, when a simple informative answer would have been more appropriate. My initial impression is that I would avoid it, as it looks too much like gambling rather than investing, with a rather hard sell approach, but I cannot speak from experience.
    • BananaRepublic
    • By BananaRepublic 28th Oct 16, 1:27 PM
    • 820 Posts
    • 577 Thanks
    BananaRepublic
    No-one ever posts a thread entitled "Is Hargreaves Lansdown a scam" or "Is NEST a scam" or "Is this diversified portfolio recommended by my regulated IFA a scam".
    Originally posted by Malthusian
    I've known plenty of people who avoid stock market investments after having had their fingers burnt. One colleague lost £20,000, another lost a more modest sum. So they would view the stock market as a decidedly iffy investment. In reality of course it is an excellent way to invest but only if you know what you are doing.
    • Malthusian
    • By Malthusian 28th Oct 16, 3:02 PM
    • 2,885 Posts
    • 4,126 Thanks
    Malthusian
    I've known plenty of people who avoid stock market investments after having had their fingers burnt. One colleague lost £20,000, another lost a more modest sum. So they would view the stock market as a decidedly iffy investment.
    Originally posted by BananaRepublic
    Only if they haven't learnt from their mistakes. And neither of them have posted a thread here titled "is [legitimate regulated investment service] a scam".

    The closest you will get is someone who got lost on the way to the Daily Mail or Telegraph saying that the stockmarket is a casino, all IFAs are crooks, the only safe investment is gold bullion, etc. But there is probably one of those for every ten "Is X a scam" posts where X is binary options or unregulated junk minibonds.
    • bostonerimus
    • By bostonerimus 7th Sep 17, 5:12 AM
    • 874 Posts
    • 442 Thanks
    bostonerimus
    Lots of posts about dubious trading platforms that are followed by someone offering to help you if you've lost money in a scam. Do we have a "bot" or something worse? I thought I was a "one note" poster, but Donald has beaten me.....note the identical posts on multiple threads
    Last edited by bostonerimus; 07-09-2017 at 5:16 AM.
    Misanthrope in search of similar for mutual loathing
    • FatherAbraham
    • By FatherAbraham 7th Sep 17, 7:04 AM
    • 737 Posts
    • 561 Thanks
    FatherAbraham
    Someone with 3000+ posts like you should know better and be less arrogant.
    Originally posted by sharpharp
    Someone with over three thousand posts, many of them helpful, has more right to be arrogant than most.

    If what Another Joe has written is arrogance, then I aspire to achieve similar levels of arrogance.

    Warmest regards,
    FA
    • Reaper
    • By Reaper 7th Sep 17, 10:08 AM
    • 6,106 Posts
    • 4,171 Thanks
    Reaper
    Before the thread goes downhill too fast here is some more info.

    Binary Options are not currently regulated by the FCA so you are on your own if you go for it. Many turn out to be scams as described here:
    https://www.fca.org.uk/scamsmart/binary-options-scams

    That page also says if they are based in the UK they have should be licensed by the Gambling Commission. The company lists 2 addresses one of which is in Armenia (not promising) and the other is Smart Choice Zone LP registered address 272 Bath St. ,Glasgow, G2 4JR , Scotland

    Are they licensed? No
    https://secure.gamblingcommission.gov.uk/PublicRegister/Search?Search=toroption
    https://secure.gamblingcommission.gov.uk/PublicRegister/Search?Search=Smart+Choice+Zone
    Though I have to say it depends on where their "gambling equipment" is based so they may potentially have a get-out.
    Last edited by Reaper; 07-09-2017 at 10:17 AM.
    • Eco Miser
    • By Eco Miser 7th Sep 17, 10:39 AM
    • 2,984 Posts
    • 2,763 Thanks
    Eco Miser
    This is an old thread, apparently revived by a spam post, now gone, and we've now got two new posts responding to the year-old OP.
    Eco Miser
    Saving money for well over half a century
    • george4064
    • By george4064 7th Sep 17, 10:50 AM
    • 820 Posts
    • 866 Thanks
    george4064
    Never heard of them - AVOID
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

    Save £12k in 2016 - #045 £10,358.81/£12,000 (86%)
    Save £12k in 2017 - #003 £9,136.98/£12,000 (76%)
    • Reaper
    • By Reaper 7th Sep 17, 11:13 AM
    • 6,106 Posts
    • 4,171 Thanks
    Reaper
    This is an old thread
    Originally posted by Eco Miser
    oops, so it is
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