Binary trading

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  • jimjames
    jimjames Posts: 17,532
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    jdw2000 wrote: »
    This particular guy was saying that he used to work in McDonalds until he got into Binary. And now here he was getting stopped by this female presenter because he is driving a supercar and is apparently very wealthy.

    I drive a £500, 15 year old family car, not a supercar. Does that make me apparently poor? Or does I mean I'm not spending money on things that will lose value.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • jdw2000
    jdw2000 Posts: 418
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    jimjames wrote: »
    I drive a £500, 15 year old family car, not a supercar. Does that make me apparently poor? Or does I mean I'm not spending money on things that will lose value.

    I'm just saying what was on the program. I'm with you on all that, though. I don't even own a car.
  • Gambler101
    Gambler101 Posts: 580 Forumite
    You learn binary options trading by playing roulette. Once you win at that consistantly you are ready.
    The instructions on the box said 'Requires Windows 7 or better'. So I installed LINUX :D:D
  • bigadaj
    bigadaj Posts: 11,531
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    Malthusian wrote: »

    The clever part is that they have two mailing lists, and they tell one half of their mugs to go long and the other half to go short, which means that they are guaranteed that with any given bet 50% of their client base will be happy. Which, while not high enough for the mugs to make money (the house margin means that as ever they lose money on average with every trade), is high enough to keep them on the hook.

    I used to enjoy the tv show minder when I was a kid, dating me I know.

    One episode had Arthur putting an ad for guaranteed racing tips in the local paper and then getting a few people to occupy telephone boxes to take the calls, gave out random horses and just asked that if successful the lucky punter send them a postal order for 10% of the winnings.

    It actually sounds quite innocent, after all no money up front, only oay when you win, but it's a scam that goes back decades or probably centuries.

    Binary options is no different to the two guys in a prison cell betting in the fly crawling up the wall, well it is as at least one of them will make a bit of money and there's no dodgy middleman involved.
  • I have been stung by a Binary Option company. Very clever, they are. However, I have now received a text message from a company claiming they can recover my losses. Is this legitimate?
  • Linton
    Linton Posts: 17,064
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    I have been stung by a Binary Option company. Very clever, they are. However, I have now received a text message from a company claiming they can recover my losses. Is this legitimate?

    Probably about as legitimate as the Binary Options company - they may even be the same people.
  • vacheron
    vacheron Posts: 1,596
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    TrustyOven wrote: »
    lol

    So he bought a depreciating liability, one that will cost him money.
    Instead of increasing wealth, he chose to spend his money and display his flashy (rich) life.

    Wealthy != rich. Clue's in the title of the TV program. And in your word "apparently". It's all just for the sake of appearance.

    The quote I use in my sig sums up that common misconception quite well too.

    I also like Chris Rock's sketch on Wealthy vs Rich from a few years ago too.
    Easy to find on the net but probably not safe for work viewing or for those of a sensitive disposition!) :)
    • The rich buy assets.
    • The poor only have expenses.
    • The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
  • Malthusian
    Malthusian Posts: 10,898
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    I have been stung by a Binary Option company. Very clever, they are. However, I have now received a text message from a company claiming they can recover my losses. Is this legitimate?

    Where do you think they got your mobile number and the information that you had lost money on Binary Options? Claims firms don't send out blanket texts to random people inviting them to claim for binary options losses, as they do for PPI.

    There are only two parties who know your mobile number and know that you lost money on binary options, and presumably it wasn't you who gave them your details. That leaves only one.

    Do you think a binary options firm would pass your details to a claims firm that intended to sue them and recover your money if there was any prospect of them actually doing so?

    What's the name of the company who texted you? It may be useful information for future visitors to this forum.
  • EdGasketTheSecond
    EdGasketTheSecond Posts: 2,558
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    edited 27 April 2017 at 9:51AM
    " She stopped an expensive car in Sloane Square in London and asked the driver how he made his money. The driver was a young black man who said he made his money through Binary Trading. "

    Sounds more like a drug dealer. They always drive flash cars and claim to have got their money by gambling.
  • Vortigern
    Vortigern Posts: 3,242
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    I have been stung by a Binary Option company. Very clever, they are. However, I have now received a text message from a company claiming they can recover my losses. Is this legitimate?
    No it's not legitimate. Change your phone number. It's on a mugs list.
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