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This is not Forex trading. You cannot buy or sell Forex with these sites. They use the name Forex specifically in order to deceive people into thinking they are investing in Forex which they are not!

What they do is let you bet whether a currency will go up or down and you supposedly win if the currency moves in the expected direction. The money never leaves the company! Ever! Unlike a risky but real Forex trade that involves buying a currency, hoping it will go up or down and subsequently selling that currency for a profit or loss, nothing is bought or sold here. You are merely betting on the direction the currency will move: up or down. If you are wrong, you "lose" the money and the company keeps it. If you were right, you "win" and are supposed to get the "profit" on your investment.
This is no different than betting hundreds or thousands of dollars on the flip of a coin.

Someone will ask: "so how is this different then a Casino where you can make or lose money?" The difference is twofold. First of all, with a Casino, the risk is clear. Anyone that walks into a Casino knows there is a high chance they will lose their money. With these "companies", they do everything they can to hide the risk and pretend they are an "investment". No one tells their friend or wife "I am investing $1000 in casino gambling" but over here were you are doing the same thing, no one will tell you that your  "investment" is pure gambling. Second, in a Casino no one coerces you to come in and gamble away your money and if you lose, they don't pressure you to gamble more money. With these "companies", ounce you put in a small amount of money, they pressure you and hard sell you to add more and more money to your initial "investment" and try to get you to leverage yourself which increases the risk exponentially all while hiding the risks and selling you dreams of huge profits. When you lose money, they try very hard to get you to double down on your investment and "invest" even more money.

I haven't even touched on the fact that with a lot of these "companies" it is impossible to get your money out even if you "win". They are registered in remote countries, have no psychical address or offices and you can never pin them down to get the money. Also, most of these trading platforms are rigged and don't really represent what happens in the real Forex world.

Author Topic: Jewish Websites Allowing Ads For The Binary Options Scam  (Read 7087 times)

Offline AsherO

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Jewish Websites Allowing Ads For The Binary Options Scam
« on: January 12, 2017, 03:42:44 PM »
Not sure this belongs here, can't believe a frum "news" site would post this cr@p. What exactly is the scam here?

http://collive.com/show_news.rtx?id=43824&alias=jewish-stock-market-millionaire-is-making-his-followers-rich
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Offline lubaby

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Offline AsherO

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Re: Jewish Websites Allowing Ads For The Binary Options Scam
« Reply #2 on: January 12, 2017, 03:46:30 PM »
This was originally posted back in June here:
http://www.prnewswire.com/news-releases/forex-traders-yielding-impressive-returns-thanks-to-a-new-social-network-582067411.html

1. Discussed on DDF?
2. Now it's supposedly a frum guy from Williamsburg named Avi Flamovitz with a rags-to-riches story, what kind of BS is this?
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Offline lubaby

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Re: Jewish Websites Allowing Ads For The Binary Options Scam
« Reply #3 on: January 12, 2017, 03:49:21 PM »
1. Discussed on DDF?
2. Now it's supposedly a frum guy from Williamsburg named Avi Flamovitz with a rags-to-riches story, what kind of BS is this?
1. Nisht. Only found it now after seeing that article on COL.
2. Google search of that name turns up 0 results (well 1 if you count the COL article). Even just his last name brings up nothing.

Did you see (or able to find) the supposed picture of said Chussid with Saudi Prince?
Once the game is over, the king and the pawn go back in the same box.

Offline AsherO

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Re: Jewish Websites Allowing Ads For The Binary Options Scam
« Reply #4 on: January 12, 2017, 03:51:12 PM »
Google search of that name turns up 0 results (well 1 if you count the COL article). Even just his last name brings up nothing.

I noticed the same, obviously a scammy name. What's the play here?

The whois for the url in the article (splitmadia dot com) is registered to a 64 Newman St. in London, scammy address if you Google that too.
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Offline aygart

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Re: Jewish Websites Allowing Ads For The Binary Options Scam
« Reply #5 on: January 12, 2017, 04:17:05 PM »
Not sure this belongs here, can't believe a frum "news" site would post this cr@p. What exactly is the scam here?

http://collive.com/show_news.rtx?id=43824&alias=jewish-stock-market-millionaire-is-making-his-followers-rich
"Advertorial"
The thing with the hamster is that running on the wheel is actually what it is trying to do.

Offline AsherO

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Re: Jewish Websites Allowing Ads For The Binary Options Scam
« Reply #6 on: January 12, 2017, 04:21:25 PM »
"Advertorial"

It's obviously false advertising, but what are they trying to do? Get people to signup for a trading account?
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Offline hvaces42

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Re: Jewish Websites Allowing Ads For The Binary Options Scam
« Reply #7 on: January 12, 2017, 09:35:11 PM »
It's obviously false advertising, but what are they trying to do? Get people to signup for a trading account?
This is the same stuff as the Israeli and Cypriot binary options scam. They sign you up for a "trading" account where you make bets on which way certain currencies will go. Not actual Forex bets. Its pure, unadulterated, rigged, gambling.
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Offline Boruch999

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Re: Jewish Websites Allowing Ads For The Binary Options Scam
« Reply #8 on: January 13, 2017, 02:15:42 AM »
This is the same stuff as the Israeli and Cypriot binary options scam. They sign you up for a "trading" account where you make bets on which way certain currencies will go. Not actual Forex bets. Its pure, unadulterated, rigged, gambling.
+1 #personalexperience

Offline hvaces42

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Re: Jewish Websites Allowing Ads For The Binary Options Scam
« Reply #9 on: January 13, 2017, 08:55:48 AM »
+1 #personalexperience
Hamokom Y'malei Chesroncha
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Offline Boruch999

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Re: Jewish Websites Allowing Ads For The Binary Options Scam
« Reply #10 on: January 14, 2017, 02:22:22 PM »
Hamokom Y'malei Chesroncha

He did b"H :) But not before I saw their evil ways.  I then found some software that hid my stoplosses and take profits from them and made my money back.

Offline googwallet

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Disturbing ad on Vosizneias
« Reply #11 on: February 17, 2017, 11:14:11 AM »
Just saw this pop-up when going on vosizneias. Seems like this website is complete scam based what I've read, aside from the fact that day trading is extremely risky even if the broker is legit. I sent an email to vosizneias questioning their practice. I'm honestly shocked that a website like that can get away with this. Simply unbelievable   

Am I missing something here or are they completely out of line for allowing this?

https://www.forexbrokerz.com/brokers/trade24-review

My email to them

Quote
The add below is extremely disturbing. It's advertising an extremely risky practice of day trading and giving the impression that it's a guaranteed income source. How does VIN take on it's shoulders the likely possibility of readers that know nothing about investing clicking on this link and losing hundreds or thousands of dollars?

This ad is extremely conning and deceptive and that fact that VIN allows their website to be a platform for such a sham is just jarring.

I sincerely hope you reconsider.

Offline JTZ

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Re: Disturbing ad on Vosizneias
« Reply #12 on: February 17, 2017, 11:18:00 AM »
Better odds than Vegas.
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Offline Dan

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Re: Disturbing ad on Vosizneias
« Reply #13 on: February 17, 2017, 11:19:50 AM »
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: Disturbing ad on Vosizneias
« Reply #14 on: February 17, 2017, 11:20:55 AM »
This is even worse:
http://www.collive.com/show_news.rtx?id=43824

Just shameful to take ads from these scam artists.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.