Toroption - Anyone used it?

sharpharp

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?

AnotherJoe

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

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

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.

AnotherJoe

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

sharpharp wrote: »

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

Binary options.

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

Repeat until you lose all your money.

ChesterDog

Binary options is not a form of investment.

Malthusian

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

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

Malthusian wrote: »

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".

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

BananaRepublic wrote: »

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.

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.