CFTC Action Against 165M Binary Options Scam Faces Delay - FX News Group
Back in the days, trading binary options was only efficient when investing large sums of money. It was hardly imaginable to win significant returns unless your deposits were 3-digit, no matter how low the given minimum deposit was. Today, with a good leverage policy, binary options traders can actually win noticeable money through trading. Binary options is probably one of the rarest industries where you can earn money even if you do not invest big.
Binary options trading is highly risky and banned in certain countries. Because they are all-or-nothing propositions, when a binary option expires an investor may lose his/her entire investment. Trading binary options is made even riskier by fraudulent schemes, many of which originate outside the United States. It is your responsibility to confirm whether or not such trading is right for you and whether it is permitted in your location. We encourage you to consult FINRA, SEC and CFTC alerts on binary options trading.
The 3 strategies explained here work for all currency pairs, commodities, stocks and indices. However, even with the conservative strategy, a trader can produce excellent results if they trade 5-6 assets, and take 2 high probability trades per asset per day.
The Commission’s efforts to effect service on the remaining defendants, all of whom are citizens of foreign jurisdictions, remain ongoing. Shortly after filing the Complaint, the Commission initiated service under Article 5(a) of the Hague Convention on the Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters. In addition, the CFTC has mailed each foreign defendant a copy of the Complaint, Civil Cover Sheet, and Summons.
As alleged in the complaint, the Cartu brothers also operated Greymountain Management Limited, a now-defunct "payment processor" that maintained its principal place of business in Ireland. The Cartu brothers used Greymountain to facilitate the transfer of funds from customers in the U.S. and elsewhere for illegal, off-exchange binary option transactions. Through Greymountain and other related entities, the Cartu brothers processed over $165 million in credit card payments for binary option transactions. The complaint further alleges that Masten and SignalPush provided trade signals and auto-trader services to customers, and failed to register with the CFTC as required.
In its continuing litigation against the defendants, the CFTC seeks disgorgement of ill-gotten gains, civil monetary penalties, restitution for the benefit of customers, permanent registration and trading bans, and a permanent injunction from future violations of the Commodity Exchange Act.
The minimum deposit is one of the major key points for traders when they decide to register with an options broker. Some traders like to stick to low minimum deposits of $1-$10, but the truth is, the lees you deposit, the less your chances are to win major profits. The minimum deposit or the money you invest in your separate trades is proportional to your winning odds.
The semi conservative strategy involves 4-6 trades per day. The rules are the same as for the conservative strategy, only with one exception: We take the trade at Fibonacci projection level 127 as well as 161.8.
Investing small is also a preventive measure for new traders who probably cannot afford to lose all of their investment in their first round of trading. Therefore, they invest small until they master their trading skills. The natural course of events unfolds in the way that binary options traders start to invest larger amounts and switch to more advanced accounts within a certain period of time. They usually upgrade to better accounts with more possibilities which come with bigger deposits as well. Sometimes it is a $100 trading account, while other times, the minimum deposits go beyond three-digit amounts. In this way, traders are working their way up in the market increasing their winning odds with better or more advanced accounts and with higher investments.
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The complaint charges that from at least May 1, 2013 through April 29, 2018, three Canadian brothers—defendants David Cartu, Jonathan Cartu, and Joshua Cartu—marketed, offered, and sold illegal, off-exchange binary options to retail customers on websites under the BeeOptions, Glenridge Capital, and Rumelia Capital binary option brands.
The trading circle moves in the following order: bigger investment-bigger risk-bigger winning odds. Once traders are confident with their trading skills and their market knowledge, they are willing to enter "the real deal" by investing big bucks to have bigger returns.
According to the latest Court filings, seen by FX News Group, the CFTC has effected service easy earnings on the internet two of the ten defendants. Specifically, the Commission served Ryan Masten and BareItMedia LLC, who are citizens of the United States.
