This is no surprise, as I know that I did nothing wrong. This issue on its own would have been reason to investigate the account and during the normal course of events this would have happened at a later date. She had a lot of information to share about regulations, the industry at large, and trading. In what way could we have been any fairer with our handling of this matter? Almost everything I have ever read about regulation is confusing. In particular Sue receives nothing but thanks from the many clients that she works tirelessly for, to provide help, support and sound trading advice. That just never happens. Apparently a lot of credit card fraud schemes operate out of the US. The fact is, most of the people who hear this advice are not going to listen to it. Mr K then had problems providing the necessary KYC documents that are required and asked on a number of occasions if we could accept different sets of documents than those that are required. There is actually a good explanation for this. It is not necessarily an attempt to trap you into parting with your money.
As somebody with a background in Forex as well as a large working knowledge of binary options, I wanted to know what Sue had to say to FX traders who are curious what the advantages of binary options trading are. Initially, I made several deposits which I lost due to poor information and trading strategies. If there is ONE thing you really want people to know about this industry, what would it be? If you choose to be a serious trader and not a gambler, you give yourself a chance to profit. Mr K raised a number of red flags regarding fraud management with regards to the operation of his trading account. The bottom line here is that it is your responsibility to figure out how much money you are staking and also how much money you have the opportunity to win. It turns out that you are more likely to rob yourself than anyone else is. As far as the signals go, it is best to go with signal services you understand.
Sue replied that, essentially, binary options trades are much easier to place, but are otherwise nearly identical when you are dealing with currency pairs. What you should not do is expect someone else to hand you success on a golden platter. As Sue points out though, real money management comes down to the risk that you calculate. No specific allegations were made at this time except pointing out the particular paragraphs of the terms and conditions that the investigation would focus on. FYI restricting the use of a proxy or any technology to hide ones location is simple, there are certain locations which we are not allowed by law to operate or accept clients from and it is to prevent clients from these locations registering an account. Most people in this industry will only tell you about what you can win, and not what you can lose. You may even become a professional someday. And I absolutely agree with Sue. Even though later when you examine this one sequence of log ins it appears that Mr K had defied the laws of physics and was in two separate locations at the same time. His account has been closed and the last deposit he had made has been refunded to his credit card, Mr K is now in possession of the receipt for this transaction and the refund should hit his card without delay.
We have always treated Mr K professionally and with complete respect and spent many hours working with Mr K on Skype, to teach him the basics and finer points of trading. Binary options are a legitimate trading vehicle, like many others. That is advice from an actual binary options broker. Once I started winning more trades than I was losing, they started restricting my trades. Have you ever wondered why so many binary options brokers which offer demo accounts require that you first make a deposit into a real account before you can demo test? Do they have any idea how the signals are generated?
We received complaints from our visitators about bnryoptions. We bent over backwards to help Mr K, to enable him to trade even when he had no funds to deposit and even provided him a second practice account which has always remained active during the course of this investigation. We have always given Mr K the benefit of the doubt. So how do you decide which binary options brokers are trustworthy? It does take up a lot of site resources, however, and I also cannot really blame brokers for not wanting to pay for those resources. They have to pay us at least 3 months commission. It comes down to transparency, honesty, and reliability. Mr K has now been notified of the outcome of this investigation and supplied with all the evidence. Not only was this woman, Sue, very helpful when it came to answering my questions about her company, but she also was interesting to talk to. Even though we require clients to read and sign terms and conditions before issuing a bonus to avoid any confusion, we cannot force clients to read our general terms and conditions.
There is no need to manually set a stop loss of money, and there is no spread and that binary options trading is good for hedging. This investigation was completed by a third party yesterday and specific evidence was found that proved Mr K had on more than one occasion executed fraudulent trades in clear contravention of posted terms and conditions which he had agreed to, as is standard practice, when he opened his account. The easiest way to lose money in this business is to go about trading the wrong way. That and of course the murky regulatory waters, which are confusing to navigate. Yes he was warned about using a proxy, which is contained in paragraph 38 of our terms and conditions but we accepted he was overseas in Canada at the time and of course in the nicest possible way allowed him to continue to operate his account. Some signal services really are helpful and can assist you with spotting good trade entries. Do look for higher payouts, but understand that ultimately your success is going to have more to do with your trading method and your win statistics than anything.
The other deposits were not refunded, as no monies were owed as Mr K had traded up until this point in accordance with our terms and conditions and lost, his account balance was at that point zero and this had triggered the final deposit. Forex trader will generally point out that it is easier to control FX trades, after all. However you can still get a free demo account here. Why did he accept four bonuses all of which were redeemed or cancelled due to low balance and two of which were no deposit bonuses, only one of two clients ever to receive two no deposit bonuses? There are always two sides to every story. They say the account is under investigation, the results of which are not being communicated to me. Regulation is a good sign more often than not, but it is not a guarantee that your money is safe or that you are receiving great service. Losing money makes it far harder to make money.
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