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FCA: Brits lose GBP 87 000 to binary options scams per day

#1
Brits lose an average of GBP 87 000 a day to binary options scams , said UK’s financial services watchdog the Financial Conduct Authority (FCA) in its latest advisory.
In the publication the FCA urges the public to be vigilant to the threat of online investment fraud. The watchdog warns that fraudsters offering investments in binary options, contracts for difference (CFDs), forex and cryptocurrencies (such as Bitcoin) often promote themselves online and via social media channels, such as Facebook, Instagram and Twitter. They promise high returns and use images of luxurious items like expensive watches and cars and yachts to lure the people to put money in the scam.
After that, they usually distort prices on their website or refuse to return the clients’ funds using all sorts of excuses and citing impossible withdrawal conditions or simply shut down the client’s account and disappear with the money.


Re: FCA: Brits lose GBP 87 000 to binary options scams per day

#3
bonifaas_abe wrote:
Thu Mar 01, 2018 6:04 pm
I don’t want to sound heartless , but I just don’t understand how people with thousands of pounds saved or invested take the decision to place its funds in the hands of unknown and obviously untraceable trickers .Presumably they are mainly greedy or naïve in my opinion…
There are many people out there who are both greedy and/or desperate and gullible. It's a terrible combination.


Re: FCA: Brits lose GBP 87 000 to binary options scams per day

#7
Some authorities have started procedures to limit binary option business, but still they cannot prevent those "I would say insane" traders or investors to send their money to unregulated brokers with head offices located in the most exotic places in the world.
I believe this scams will continue to spread because still many people donate in that kind of business.

Re: FCA: Brits lose GBP 87 000 to binary options scams per day

#8
The so called trading process, the investors are invited to by online brokers with two buttons to click is just gambling and they certainly could not be sure whether will be able to withdraw their money at later stage.Everything there is about marketing and confusion
Thus the poor investors are just conned to go into debt on their credit cards...

Re: FCA: Brits lose GBP 87 000 to binary options scams per day

#9
There are so many ways to get into debt, the problem and get well ... from certain diseases ... it's always a button that makes you lose money.
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