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Messages - AriTheTenrec
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There is no such thing as a good binary options trading site, since there is no such thing as binary options trading. Binary options is a form of prediction, backed up by placing money in support of those predictions. In one word: gambling. (Don't ask me! Ask the FBI and the FSA...)
Trading requires that merchandise, values such as precious metals and currencies, raw materials and rights, (the full, pedantic, list is a few pages long), are bought and sold, or that promises to buy or sell are made at pre-determined rates. Binary options is the general public version of the mad predictive activity made by the more aggressive traders, operating well beyond the limits of their responsibility, on official stock exchanges that brought many banks and brokers to their knees twenty to thirty years ago. If you want to crash and burn like Nick Leeson: be my guest.
Gains on binary options are not made by making profits buying and selling anything; the rewards for the winners all come from the losses of the losers. Unless you are operating a binary operations firm, in which case you have commissions on winnings and whatever your firm feels like taking on predictions on values which neither rise nor fall. If you are a client of a binary options firm, and you make a rising or falling prediction on a value which remains unchanged, you have lost. Quite where your money goes in that circumstance is under investigation at the moment...
"BI"nary options with a "TRI"o of possible outcomes, of which only two are of benefit to the ordinary players??? That is why many firms only run very short-term predictions: more opportunities to bag all the cash before a value has time to rise or fall. You would think that the cash in those cases should be returned to clients' accounts. I have yet to find a binary options firm with that level of integrity. It's one of the many anomalies which have prevented binary options firms from qualifying for gaming licences. Of course, most firms seem to know they have no chance of meeting the Gambling Commission's standards and don't ever apply. Such an application would be a suicidal admission that binary options activity is just a form of gambling. Do not expect binary options activity to become legitimate any time soon. Not regulated = not exactly legitimate in the world of finance.
Trading requires that merchandise, values such as precious metals and currencies, raw materials and rights, (the full, pedantic, list is a few pages long), are bought and sold, or that promises to buy or sell are made at pre-determined rates. Binary options is the general public version of the mad predictive activity made by the more aggressive traders, operating well beyond the limits of their responsibility, on official stock exchanges that brought many banks and brokers to their knees twenty to thirty years ago. If you want to crash and burn like Nick Leeson: be my guest.
Gains on binary options are not made by making profits buying and selling anything; the rewards for the winners all come from the losses of the losers. Unless you are operating a binary operations firm, in which case you have commissions on winnings and whatever your firm feels like taking on predictions on values which neither rise nor fall. If you are a client of a binary options firm, and you make a rising or falling prediction on a value which remains unchanged, you have lost. Quite where your money goes in that circumstance is under investigation at the moment...
"BI"nary options with a "TRI"o of possible outcomes, of which only two are of benefit to the ordinary players??? That is why many firms only run very short-term predictions: more opportunities to bag all the cash before a value has time to rise or fall. You would think that the cash in those cases should be returned to clients' accounts. I have yet to find a binary options firm with that level of integrity. It's one of the many anomalies which have prevented binary options firms from qualifying for gaming licences. Of course, most firms seem to know they have no chance of meeting the Gambling Commission's standards and don't ever apply. Such an application would be a suicidal admission that binary options activity is just a form of gambling. Do not expect binary options activity to become legitimate any time soon. Not regulated = not exactly legitimate in the world of finance.
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Gains made on any legitimate financial operation have to be declared as earnings, but you can soften certain blows and deduct losses from your gains. It's more than likely, in the UK, that any web-only firm you use is not registered with the FSA, (binary options activity is gambling according to the FSA, who also state that binary options operations should be registered with the Gambling Commission, even though the Gambling Commission has not registered any binary options operators according to their latest available reports), so getting caught by the taxman is possible but highly unlikely. On moral grounds alone all gains on financial operations other than gambling should be declared. There are countries where gambling is very strictly controlled; in the USA gambling "remotely" is called wire fraud, a Federal offence, and can lead you straight into the unfriendly arms of those sweet gentlefolk of the FBI.
Forex is different, as it is considered by the UK FSA, and by other similar regulators, to be legitimate financial trading. I don't know of any negative thoughts of the FBI about it. However, since web-only financial firms are extremely likely to be binary options operations, the relatively few Forex firms have little effect on the overall statistics. Do not think binary options and Forex offer similar opportunities: Forex trading is fundamentally equitable, binary options operating is anything but equitable. They should not even appear in the same text without some similar reservation.
Forex is different, as it is considered by the UK FSA, and by other similar regulators, to be legitimate financial trading. I don't know of any negative thoughts of the FBI about it. However, since web-only financial firms are extremely likely to be binary options operations, the relatively few Forex firms have little effect on the overall statistics. Do not think binary options and Forex offer similar opportunities: Forex trading is fundamentally equitable, binary options operating is anything but equitable. They should not even appear in the same text without some similar reservation.
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