Farewell to the Banned Blacklisted Busted Binary Broker Scammer.

granny

It’s always good to seen scam binary brokers get busted and banned. It’s never good for the clients who were the victims of the scammers. Unfortunately, regulators across the globe can only get rid of these fraudsters one by one. One scam at a time. Such was the case for NRGbinary as reported in the Reuters article From Israel via London an Online Gambling Scam Traps Thousands.

NRGbinary was an online binary options gambling company run from Israel and registered in London. Within 2 years of operation hundreds of clients were defrauded out of anything between $ 10 000 and hundreds of thousands of dollars running into the millions in all.

Staff at NRGbinary would use pushy and demanding high pressure sales tactics with promises of up to 50% profit by convincing clients to invest more funds and trade high volumes. Regulators are clamping down on scam brokers. Israel banned binary options this year. France has blacklisted NRGbinary and related companies. In the United Kingdom British regulators have issued general warnings about binary options brokers. The Fraud Helpline received around 27 reports a month about binary options.

NRGbinary sold it’s products in the Middle East, Canada and South Africa. You have to wonder why South Africa turns out to be such an easy target to recruit victims for the scammers when you realize that the country’s ”official unemployment” runs at 25% and their currency (the Rand) has depreciated 75% against the US Dollar between 2012 and 2016.

“Never, never, never trade in binary options.” says Jutta Strake a former NRGbinary client.

She showed Reuters emails from her account manager, Michael Vinyard, who said he was based in Britain. “Almost no risk involved,” he wrote in one. “The money is on the floor – just pick it up!” She lost 13 000 euros.

If you don’t know what Binary Options trading is, here is the example as provided in the Reuters article linked earlier. ”Anyone with money in a trading account can place a bet on whether the value of a financial asset – a currency, a commodity, a company’s shares or a stock index – will rise or fall in a fixed time frame.For example, you might bet $1,000 that Facebook’s shares will increase in value by more than Google’s in the next minute. If you are right, many brokers offer a profit of as much as 70 percent on top of your stake, depending on the terms of the option. If you are wrong, you lose your $1,000.”

Itzik Shurki, of the Israel Securities Authority, said the industry is dangerous. ”Shurki likened the short timeframe of some binary options trading – (trying to guess the movement of a currency or stock in as little as 60 seconds) to gambling. A financial expert cannot have any real insight when dealing with the short time frames you have in binary options,” he said.

We can’t stand the scammers. Second to scammers are the Financial Masters of the Universe who advise you how to trade by providing ”trading signals” that are useless, gambling, and require you to deposit more funds when the trade is failing – to save the trade. Or they just don’t have a clue and cause you to blow your money anyway.

We don’t support, endorse, recommend or even enter discussions about binary options trading to anyone. It is gambling,  unregulated and open to abuse by scammers and fraudsters. Stay away.

In conclusion, here is the Pip Asylum explanation of what binary option gambling is like.

”Take your grandmother to the local fair. Blindfold her and spin her around a dozen times. Take her to the stall where she has to throw a dart on green to win a teddy bear. While she takes aim, the bookies in the crowds will take your bets on whether grandma is going to hit green or red. The crazy thing about all this is that the bookies, or rather brokers will try to convince the crowds that they have professional knowledge as to where grandma’s dart is going to land. People believe this nonsense, and more and more money gets to the scammers.”

 

 

 

 

 

 

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Save

Facebook
Facebook
Google+
Google+
http://pipasylum.com/farewell-banned-blacklisted-binary-broker-busted-scammer/
Email
RSS

2 Responses to “Farewell to the Banned Blacklisted Busted Binary Broker Scammer.

  • Crispin Brent
    9 months ago

    With my Binary option and Forex strategies, giving to me by Mrs Adelina Morgan, I have made profit in the past 7 months and now I make £10,000 every week with her strategies. After changing a lot of strategies, I have decided to share this one since it’s a success. It is the least I can do for beginners or people who have lost much to binary options and are looking for the right strategy and how retrieve their funds from their brokers, which I am willing to help, you can contact her via (adelinamorgan3310@gmaildotcom) for help

    • Pip Asylum
      9 months ago

      Reply by Pip Asylum : It is our great pleasure to allow our readers to view the above comment. Pure proof of the scams that exist to trap people into false beliefs. We ask the poster to submit proof of £ 40 000 of income for the past 4 weeks. What a bizarre email address they offer @gmaildotcom? LOL!!!!

Leave a Reply

Your email address will not be published. Required fields are marked *