Binary Options Scam by Robert Hughes


I want to start this personal account with saying a big thank you to and especially to Mr Philip Masters. The reason for this is very simple. After stumbling across his recent articles on this site, dishing the dirt on this so called “wonder” that is binary options trading, I am now able to sleep again after many months. Months walking around with my self confidence severely hurt, my ego shattered, feeling stupid, ignorant, insufficient and even guilty towards myself and those close to my heart, simply because my brief encounter with the “magic” world of binary options trading online ended in utter, dismal failure.

I always thought of myself as a smart person, a university graduate with a fairly successful work life at a well respected company, bringing home a decent paycheck. However, about a year back, I came across the term binary options trading, mainly through the conversations with some people at the office and (of all places) at the gym. I went online and did some snooping around, coming across a lot of wonderful “success stories” of simple, everyday people managing to turn a little cash into substantial fortunes. So, I looked around, and having faith in my mental capacities, although a social scientist and not a financial expert, I was always following the world news and thought I did have at least a basic idea about the work financial markets and the events affecting them, I took a deep breath and delved it.

I set up an account, committed a healthy sum from the money I was saving in order to buy my better half a wedding ring and I was ready to start trading binary options online. The welcome bonus I received from my brokerage firm added to my optimism and made me even more eager for action and great gains. Hell, if a housewife behind an old desktop pc could nail it, then a hip guy like me was sure to have it in the bag!

Alas, it wasn’t like that at all. It seemed that no matter how hard I tried, how closely I followed all the economic news and trends, how much I read around the topic of trading binary options online, watching webinars and studying how-to guides, being able to achieve even a single trade ending up in the money proved an unattainable task, the impossible dream!

I conjured up the courage to close my account and give up the effort just as I realized that I was suffering loses that my income could no longer sustain. My dear partner Jema was in tears when I had to come clean and admit that we would have to postpone our wedding plans for at least a couple of years, until my finances go back to where they used to be.

Up until a few days ago I was convinced that my failure with binary options trading was solely the result of my own stupidity and inadequacy. I even cancelled my gym subscription, both to save money and make up some of the losses, but also because I couldn’t bear the thought of having to talk about my failure to the other guys there, or having to hear them boast about their successes and gains from trading binary options.

Thanks to Mr Masters, who eloquently revealed that binary options trading is actually a huge scam, designed to trick the simple traders and serve the interests and facilitate the gains of the brokers, I can now remove the stain of failure from my self-esteem and leave this bad experience behind me forever, being able to go on with my life knowing that I was a victim of crooks and not a stupid idiot who couldn’t put two and two together.

Robert Hughes