Another Binary Options Article about Israel & Fraud

HOW DOES THIS CONTINUE?!!?? 

WHERE ARE THE AUTHORITIES TO PUT THEM IN JAIL?

These people are going to work every day probably very well knowing they are ripping innocent people off right and left...

New article from the Jewish Chronicle -- HERE

Every morning, thousands of Israelis wake up and go to work stealing money from strangers abroad. If you are in your 20s, live in Tel Aviv and moved to Israel from another country, you probably have numerous acquaintances who do this. Drawn by the salaries, they have taken jobs in the widely fraudulent industries of binary options and forex.

One Italian acquaintance of mine said that most of his friends, olim hadashim (new immigrants) from Italy, work in binary options. My neighbour, an international student at the Interdisciplinary Centre in Herzliya, said that about 10 per cent of her classmates work in the field. Several acquaintances, mothers of young children, apparently think nothing of dropping their kids off at day care, driving to a fancy office tower in Herzliya or Ramat Gan and writing SEO spam for an industry that seeks to bring financial ruin to families in places like the UK, Saudi Arabia or the United States - and even Israel itself.

BINARY OPTIONS FRAUD
BINARY OPTIONS SCAM
BINARY OPTIONS CRIMINALS
CYPRUS
ISRAEL
TEL AVIV

Grey Mountain Management Fraud

There is a company called Grey Mountain Management that is tied to a lot of these Binary Option sites. They provide the credit card processing and are based out of Ireland according to the credit card statements. (Thanks to FPA for the information)

GreyMountain Management (some evidence of ties to Banc De Binary), also known as "White Label Solutions" or "Worldwide Tech" who has a Director named Uri Katz who is also a director of Banc De Binary. As you can see in a previous post, they were fined by the SEC in the US.  Setup in May of 2014 - http://www.solocheck.ie/Irish-Company/Greymountain-Management-Limited-544173



Bloombex
"Bloombex Ltd is a whitelabeled solution serviced by Greymountain Management Ltd" www.bloombex-options.com". This is another interesting web site that ties this company to Skyrunway.com which is in Roseau, Dominica. Porter Finance is supposedly owned by Skyrunway.com as well out of the same, exact address, "3rd Floor C & H Towers, Corner of Great Marlborough and George Streets, Roseau, Commonwealth of Dominica.

Directors:

1. Liam Grainger
2. Ryan Coates

Location: 3rd Floor, Ulysses House Foley Street. Dublin, Ireland & St. Vincent and the Grenadines.

Connections to GreyMountain Management:

1. Porter Finance
2. Bloombex-Options
3. Cherry Trade
4. Glenridge Capital
5. BeeOptions
6. Vision Binary
7. UKOptions
8. Starling Capital
9. MRT Market
10. GTOptions
11. FX Cortex
12. Morton Finance
13. Scheenber
14. Binary Profit System
15. Iq Option
16. Professional Binary Robot
17. EdgedaleFinance.com (banned IP address in the US)

Activity on Forex Peace Army

Recently there has been a lot of activity from a site called Forex Peace Army. You will see that one victim went to great lengths to notify anyone this person could think of to alert them of this fraud from Banc De Binary.

You can read the thread HERE called "Mega Scam"

The list of these companies goes on and on regarding scams and fraud.
http://www.forexpeacearmy.com/community/forums/scam-alerts.30/ - there are 212 pages of scam alerts

Companies listed here on this forum:

1. Grey Mountain Management
2. Banc De Binary (guilty)
3. Bloombex Options (guilty on FPA site)
4. Option FM
5. Option 500
6. MX Trade
7. Forexbrokerinc
8. FX Choice
9. No1Options
10. Capital Trust Markets
11. Porter Finance
12. Private FX
13. 24Option.com

Binary Options Exposed
Fraud, Binary Options
Banc De Binary
Forex Peace Army
Victims

Interweb of Crazy - Banc De Binary

The founders of these companies have done a good job of flooding the SEO of all search engines (Google, etc) YouTube, Twitter and other social media site with diversion tactics.

For most with a casual search, you are not able to find any information on these companies. They essentially are all operating under different names and may very well be the same fraud originators.

For instance, you can find most of these sites under for Grey Mountain Management and the trading software that runs these sites, such as Spot Option and Panda Trading.

PandaTS is based at 7 Jabotinsky Street, Ramat Gan , Israel and Maor Lahav who is the COO of the company. They are trying to pass as a legitimate business only to support all of the shady brokers out there.

Spot Option is listed to be located in Limassol, Cyprus.

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Here is a list of a good majority of the Binary Options Sites.

http://www.fxempire.com/binary-options/brokers

Banc De Binary has already been fined $11M, find the story on this company HERE and the SEC filing HERE

Banc de Binary Ltd., a financial trading company and a sponsor of Liverpool Football Club, has agreed to an $11 million settlement with U.S. authorities over allegations it illegally signed up U.S. investors to its binary options trading platform.

Of course, if you try to google this company, you cannot find anything negative because it is BURIED in other SEO tactics. But you can find a recent articles HERE and about their scams & fraud with British citizens. 

The WSJ story:
"The authorities allege that Banc de Binary solicited and took orders from U.S. customers on contracts linked to commodity, currency and stock prices between 2011 and 2013, sidestepping a U.S. ban on off-exchange binary option contracts. The company allegedly used the address of a “virtual office” in New York’s Trump Tower on its website and in communications with U.S. customers."

SEC:
On March 8, 2016, the Securities and Exchange Commission announced that the company agreed to pay $11.05 million to settle charges that it illegally sold binary options to U.S. investors. Banc de Binary Ltd, Laurent, and the affiliates agreed to jointly pay $7.1 million in disgorgement and $1.95 million in penalties to the SEC, as well as $2 million in penalties to the Commodity Futures Trading Commission (CFTC), which had filed a parallel enforcement action against the same defendants. Banc de Binary Ltd, Laurent, and the affiliates also agreed to be suspended from the securities industry for a year and permanently barred from issuing any penny stock offerings.

What are Binary Options?

First off, what are binary options?

The purpose of this site is to EXPOSE this crazy business and it's fraudulent practices. I see many false sites out there which are only DIVERSIONS to keep the truth from getting out there.

A binary option is a financial option in which the payoff is either some fixed monetary amount or nothing at all. While binary options are used in a theoretical framework as the building block for asset pricing and financial derivatives (a binary option maps to the cumulative distribution function of the risk-neutral distribution, they have been exploited by fraudulent operations as many binary option outlets (outside regulated markets) have been shown to be scams. 

The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option. The cash-or-nothing binary option pays some fixed amount of cash if the option expires in-the-money while the asset-or-nothing pays the value of the underlying security. They are also called all-or-nothing options, digital options (more common in forex/interest rate markets), and fixed return options.

How Do Binary Options Work?

A binary option asks a simple yes/no question:

Will this market be above this price at this time? 

If you think yes, you buy the binary option.

If you think no, you sell.

Either way, your price to buy or sell is between $0 and $100. Whatever you pay is your maximum risk. You can't lose any more.

Hold the option to expiration and if you're right, you get the full $100 and your profit is $100 minus your purchase price.