The Great Binary Options Scam Part One: Full Disclosure

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Binary Options Scam
Binary Options Scam

In the past I have contributed articles singing the praises of binary options without having a full understanding of how they truly work. This was just sloppy journalism on my part and I own up to it, sometimes the demands of deadlines and the need to keep the paychecks coming can lead you astray. Now I’m here to humbly request that you forgive my previous errors and allow me to provide you with an unbiased thoroughly researched take on binary options. The kind people at BinaryOptionsWire.com have agreed to allow me to have my own column on the subject. They seem keen to attack the subject from both sides and don’t see any reason why there shouldn’t be a counterargument located on their website. So from here on in, in a form you could loosely describe as a blog, you will get to read what I believe is the real low-down on the binary options industry, as well as how I came to these opinions and what my own personal trading journey has been like.

As this story unfolds you will find out what the key moment was that led me to understanding the nonsense we have all been sold, and what I recommend you do if you really have your heart set on being an online trader. Rest assured, there are legitimate, potentially profitable ways to trade online where the only odds stacked against you are those that arise from market conditions that are complex and unpredictable. In other words: the markets are impenetrable enough as it is, you don’t need a broker acting as casino house, helping you lose on top of everything else, the markets are good enough at that on their own. This is why I take such offense at what the binary options industry has managed to do over the past few years. It has managed to adorn itself in a cloak of credibility, selling you on the idea of a simplified trading product that has your best interests at heart, when in reality, at its very worst it is a venal, disreputable and unscrupulous machine, sucking capital out of the bank accounts of people who are desperately trying to take control of their financial destinies.

On our journey through the binary options industry you will be made privy to all of the weak, dishonourable and generally bitch-ass things many brokers routinely do to their clients as well as to their affiliates. You will find out, point for point, that every single argument used to sell binary options is off the mark. To put it simply, you will find out that you are being lied to.

In addition our forum is also now open, you can post entirely freely, no registration is required and we will not be passing on the email addresses you enter in the form on to anybody else. Don’t believe us? Use a fake one. Please use this forum to share your experiences. The only way to get an accurate gauge of your feeling for a product that I personally believe the tide of opinion is beginning to turn on.

I hope you find my blog useful. From now on nothing will be posted here unless I emphatically believe it.

Thanks for taking the time to read this and feel free to contact me at [email protected]

Philip Masters

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has been writing about finance for more than 15 years. As a former market analyst he brings a unique perspective to share market trading and investing issues.

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