The multi-asset online broker Vantage has announced the launch of a social trading feature on its proprietary mobile app, Vantages App, thus expanding its app's capacity and turning it into an all-inclusive trading app supporting both regular and social traders.
Vantage
Social trading has rapidly broken onto the scene over the last decade, revolutionizing how newcomers and veterans alike navigate complex forex markets. By copying successful trader strategies, social traders can harness their knowledge to make informed investments with minimal effort.
Social trading on the Vantage App will cover the whole product offering of more than 1,000 trading instruments including CFDs on Forex, Commodities, Indices, Energy, Shares, ETFs and Bonds.
About Vantage
Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, and Shares. With more than 10 years of market experience and headquartered in Sydney, Vantage now has over 1,000 staff across more than 30 global offices.
In the week leading up to Nov. 16, U.S. equity funds attracted massive inflows as signs of slowing inflation eased investor fears of a more aggressive Federal Reserve rate hike.
According to data from Refinitiv Lipper, U.S. equity funds obtained a net of $16.65 billion, the biggest weekly inflow since Dec. 29.
Analysts at the bank said in a Tuesday note that allocations to equities reached the third-highest sum since 2008 during the five-day period, according to client data — a sign investors believe indicates that the market sell-off is nearing an end. But BofA contested the notion that the worst is behind for the stock market.
After surging for the first two days of last week, a jobs day plunge erased much of the gains. Still, stocks managed to end the week higher after three straight weeks of losses.
Bank of America noted that the broad-based shopping spree across U.S. equities ranged from single stocks to exchange-traded funds while the purchases spanned hedge funds, institutions, and individual investors. Institutional investors were the biggest buyers, recording their first inflow in a month and largest inflow since December 2020.
The streaming giant fell short on viewership for its new ad-supported platform.
Among the biggest losers in last week's selloff were Netflix and other streaming stocks. NFLX shares fell 9% on December 15 following reports the streaming giant is falling short on viewership guarantees it made to advertisers for its new ad-supported streaming service. Shares are 1% higher in early trading Friday.
Investors had been counting on the new ad tier to draw a substantial audience, but the company reportedly delivered only around 80% of its expected audience.
The poor performance could mean Netflix may have to lower its ad prices. It had been seeking a relatively high $55 cost per thousand impressions (CPM), above the $50 CPM of Disney+. Advertisers are also faulting Netflix for not pushing its own market campaign for the ad-supported tier.
Netflix shares had climbed about 67% over the past six months, but are still down about 51% so far this year. Warner Bros. Discovery (WBD) and Paramount Global (PARA) shares also fell about 9% yesterday. Disney's (DIS) stock price was down about 4%.
We are here to address the common inquiries traders may have regarding binary options scams, as surge in fraudulent activities that entice individuals with promises of extraordinary profits through elaborate schemes and Binary Options in particular. These scams have become increasingly prevalent and target a wide range of people by presenting seemingly advanced solutions.
To protect yourself from binary options scams, it's important to be aware of the likelihood of falling victim to these deceptive tactics. By staying informed and learning how to spot fake offerings, you can safeguard your funds and personal information.
Introduction to Binary Trading
Binary options are financial instruments that involve trading with a fixed amount of money and a specified timeframe. In fact, Binary Options are Banned completely by most regulators worldwide and are not available via Regulated Brokers.
So how Binary Option work? The Investors can purchase a stock or other investment, or make a bet on the price of an underlying asset reaching a certain level by a specific expiration date. {Read our review article about Binary Options Trading Brokers)
The potential loss or gain is limited to the difference between the market price and the option price. In binary options, the timeframe is much shorter, and it essentially becomes a short-term bet on the direction of the asset. If the trader's prediction is correct, they receive a predetermined amount of money from the counterparty. However, if their prediction is incorrect, they lose the entire investment.
Yet, due to the appeal of binary options as a financial investment opportunity, the industry has faced scrutiny regarding its reliability and legitimacy. Its popularity is driven by the accessibility it offers to anyone seeking investment opportunities and the promise of high returns in a short period of time. However, it is important to closely examine the nature of this opportunity.
How do Binary Options scams work?
The binary brokers as a typical mean locate their offices primarily in offshore zonesand other jurisdictions that did not imply the strictest regulation to financial investment firms, since worldwide regulation Ban this trading instrument due to high risks and lack of transparency. Therefore, the Binary company will enable its operation with a very low requirement and capital while as a general rule will claim its presence in prestigious jurisdictions alike the UK, Hong Kong, the US, or another European country. The phone number may appear to be a local line, but eventually to have the end user in the options trading hub somewhere in the world.
Therefore, binary scams are geared towards investors and promote fake binary trading software through easy for unscrupulous providers to take the advance.
Here are typical scenarios How Binary Option Fraud operates and target traders:
Most often binary frauds use heavy advertising tactics through social media, websites and emails with a redirection to a very-well developed websites with an allegedly professional offering and a very attractive opportunity for gains available to everyone.
Majority of binary options scams lure traders with a very small initial deposit and “free bonuses”, and most often it is enough to get interested. Further on an options broker will ask for credit card information and eventually, that’s where the positive side finishes. Then, the trader puts his life savings into “potential investment and gains”, but faces the loss of everything. The attempts to get money back turn out to be unsuccessful with further stress from understanding what happened.
The main trap in binary options trading is that firms may easily manipulate software and distort prices which will lead to a sudden loss of the trading account and balance.
Furthermore, scam brokers may use credit information to withdraw funds from the cards, therefore you should be extremely cautious about giving the credit details. (Read about Forex Trading Scams)
As the nature of Binary Options trading allows company providers to operate the “business” easily as well as to enjoy high incomes in their pockets, the industry shows its growing tendency constantly.
However, the situation has now changed due to better regulations and observances that keep track of scams so is always good to refer to Top-Tier regulatory websites like FCA. Securities and markets regulators across international jurisdictions received thousands of complaints as the binary options providers target investors aggressively, yet, the truth of victims is far beyond the received number of complaints.
While Binary Option is often categorized as a sort of gambling by the authorities the binary options broker may be a registered firm in a particular or offshore place, yet the firm is not allowed to sell its offering to residents of other jurisdictions. (Read Why to Avoid Brokers from Belize)
The authorities and international trading industry regulators regularly check on the trends and actions performed or offered by various brokers with the purpose to protect clients and maintain a trustable or smooth market operation. In regards to binary options trading sites, the most trusted regulators issued an Investor Alert, with advice not to involve in binary trading at all, and even banned binary options to retail traders. The agencies mention that numerous complaints received and relatively easy ways to manipulate software or to generate losing trades during the binary options trading delivery involve a significant risk to be involved in fraudulent activity. The authorities then identified thefts through a fixed-odds betting nature of the binary options trading and try to educate the population and warn about fraudulent promotional schemes.
Even though world authorities restrict Regulated Brokers from offering Binary Options, yet, the regulators are not able to power each and every offering or specific jurisdiction where most of the scammers are based. In many instances, you should protect yourself and be aware of an interaction, that takes place with the purpose to take your money.
There is no guarantee on a statement made on the broker's website, thus do not believe in every statement, specifically about its registration status, but carefully check through official regulatory sources. Scams often present themselves as a reputable firm with professional data, allured attractive possibilities of high gains, and fast outcomes. Yet, often it's all faked, always remember because information looks official, it does not mean it is.
Be cautious of unsolicited phone calls, emails, or messages from individuals or companies promoting binary options trading. Legitimate brokers typically do not engage in aggressive marketing tactics.
Seek advice from independent financial professionals or trusted individuals who have experience in trading and investments. They can provide objective insights and help you navigate the complexities of binary options trading.
Always verify the broker’s registers before dealing with them and check on the reputation, as well as read Forex Brokers reviews. Probably, if the firm is not authorized it is a high risk to be a scam. You can always check Warning lists issued by the industry authorities and of course, you should consider strongly any issues, as well as review the List of Brokers to Avoid.
If you got scammedby Binary Broker
In case you fall victim to Binary Option scams, at first you should immediately recall the credit card and try to withdraw funds from an account. Because scams are likely located overseas, there is almost no way to get any money back or to receive any sort of support.
The typical traders' complaints included refusal to credit accounts or return funds and in fact, are not able to be supported further, as simply the company is not regulated or compensated by anyone. However, you should report a scam to specified authorities and better to access a specialist to advise on your following steps. The Regulators like UK’s FCA, Australian ASIC, Cyprus CySEC, and others provide an open and well-guided complaint procedure, therefore you should contact authorities immediately in case there are any concerns.
However, If you invested with a non-regulated entity there is no investment protection applied, as well as there, is no established compensation, unlike the Regulated Forex Brokers status provides.
Conclusion on Binary Options Trading Scams
The sad truth is that scams in the binary options trading market are something that dominates among the offering. While the broker may provide robotic software or act as a broker, the trader should always keep caution against scams.
Overall, it is a very high risk, noting facts and issues happened to thousands of investors around the world, to engage in Binary Options trading.
We can not recommend trading with binary options brokers due to the revealed facts and numerous warnings issued by trusted authorities around the world. We value a transparent operation and investment service, therefore both reliable and trusted brokers will be always regulated and authorities in terms of their offering and performance. On the contrary, we offer to check out a list of Regulated Brokers and a description of their investment proposal, which is available by the link.
On June 23, 2023, FP Markets, a prominent Forex and CFDs broker, achieved significant recognition at the esteemed Ultimate Fintech Awards APAC 2023. The company was honored with the titles of 'Best Trade Execution' and 'Most Transparent Broker,' solidifying its position as a leading Forex and CFDs broker in the Asian market. These highly coveted awards mark an impressive beginning to 2023 for FP Markets, building upon their earlier achievement of being named the 'Best CFD Broker in Africa' at the FAME Awards 2023. These recent accolades add to the remarkable series of awards garnered by FP Markets in 2022.
The Ultimate Fintech Awards stands as a prestigious and highly regarded award, serving as a definitive benchmark to honor excellence in online trading and Fintech across both B2B and B2C sectors. Taking place in the vibrant city of Bangkok, Thailand, the distinguished event was hosted at the Centara Grand and Bangkok Convention Centre at Central World, drawing a significant number of attendees and attracting top-tier companies from the industry. Alongside numerous acclaimed award categories, recipients were recognized for their innovative leadership, commitment to transparency, and exceptional service, further enhancing their standing within the field.
Nick Twidale, the CEO of FP Markets APAC, expressed his thoughts on the achievement, stating, "Being honored with the Best Trade Execution and Most Transparent Broker awards at the Ultimate Fintech Awards APAC 2023 is a testament to the unwavering commitment and hard work of the entire FP Markets team. These awards further validate our dedication to providing clients with an exceptional trading experience. Our focus on trade execution, transparency, cost efficiency, educational resources, and a wide range of trading platforms has positioned FP Markets as an ideal choice for both short-term and long-term investors. These awards not only highlight our expanding presence in the APAC region but also underscore the global reach and recognition that the Forex and CFDs industry holds in today's market."
FP Markets, established in 2005, is a trusted and multi-regulated brand that offers a wide range of trading opportunities to clients. With over 10,000 tradable instruments spanning across important asset classes, FP Markets ensures diverse options for traders. The company also provides aggregated pricing sourced from renowned liquidity providers. Notably, FP Markets prides itself on delivering consistently tight spreads, rapid trade execution, and unparalleled 24/7 multilingual customer support. To cater to the unique needs and preferences of traders, FP Markets offers a variety of account types suitable for different trading strategies and styles.
The Cyprus Securities and Exchange Commission, known as CySEC (www.cysec.gov.cy), is the financial regulatory agency of Cyprus. As an EU member state, CySEC’s financial regulations and operations comply with the European MiFID financial harmonization law. A significant number of overseas retail forex brokers have obtained registration from CySEC. You can read our detailed article about CySEC here.
The Cyprus Securities and Exchange Commission (‘CySEC’) issued warnings with regard to Capitaltechfx and Richmondsfinance. According to the official statement, these websites do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities
The biggest concern with these two companies is identical websites with all the same content. There is a difference between the locations (offices), but probably it is because the companies have been targeting different countries.
Both brokers claim to be offering Forex and CFDs trading. Capitaltechfx has branches in the United Kingdom, Cyprus and Singapore. Richmondsfinance has branches in Australia and Cyprus. There is no regulatory information provided on either website. Also, we couldn't find any proof of their authorization in the registers of the British FCA, CySEC and Australian ASIC.
We would recommend avoiding both Capitaltechfx and Richmondsfinance as it is very risky to trade with unregulated brokers.
When engaging with brokers that do not operate on the grounds of a valid license, issued from a trustworthy authority, traders are putting their investments at higher risk. It is better to avoid dealing with offshore brokerages and choose properly regulated and reliable brokers. A good example of such are the ones supervised by the FCA or CySEC.
You can also share your trading experience with Capitaltechfx and Richmondsfinance by commenting on this post.
The UK’s Financial Conduct Authority has updated its warning list with Bex Options - a company that is not authorised by the regulator and is targeting people in the UK. Based upon information the FCA holds, Bex Options is carrying on regulated activities which require authorisation.
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.
Bex Options offers trading in forex, various CFDs, and binary options and operates through the website www.bexoptions.com. The broker is owned by Bex Options Trade and claims to be based in London, UK. Also, according to the website, Bex Options is registered with the UK government with company registration number: 09563470. However, this registration number belongs to another FCA-regulated company Bex Trading Limited. It means that Bex Options has used the financial registration number of FCA-licensed Bex Trading Limited. Nonetheless, the broker is not associated with the regulated company.
It is a popular tactic fraud companies use in an attempt to convince people that they work for a genuine, licensed business. Clearly that Bex Options cannot be trusted and should be avoided as a broker which tries to mislead investors that it is a brand of an FCA-authorized company using the registered number of a licensed firm.
It is recommended to trade with authorized and regulated brokers. There are many trading companies that offer relatively good trading deals and conditions. These companies are regulated by such financial regulators like the ASIC, CySEC, and FCA.
You can read our review on this broker here.
Among the latest issued warnings of the UK’s Financial Conduct Authority (FCA) is the one against an unregulated financial services provider – company AMP Trading that appears to target UK residents.
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.
AMP Trading is a forex and cryptocurrencies broker that operates through the website www.amptradinggroup.com. The firm is owned and operated by AMP Trading Limited (according to the website, AMP Trading Limited is an appointed representative of AMP Prime Ltd Authorised and Regulated By Financial Service Commission (FSC) and Registered in England & Wales). FSC regulation means that the company is simply registered in one of the offshore zones - Vanuatu as the registration number VFSC012B stands for Vanuatu Financial Services Commission.
Next to broker's London address there is a Cyprus address, which probably points out one more office location. Despite the London and Cyprus locations, AMP Trading is not regulated in any of these or other countries.
It is recommended to trade with authorized and regulated brokers. There are many trading companies that offer relatively good trading deals and conditions. These companies are regulated by such financial regulators like the ASIC, CySEC, and FCA.
You can read our review on this broker here.
Austria’s financial markets and services providers regulator FMAwarned that the Forex and CFD broker Libra Markets is not licensed to offer its services in Austria. Therefore the acceptance of funds from other parties on a commercial basis for management purposes or as deposits is not allowed.
The Austrian Financial Market Authority (FMA) is an independent, autonomous and integrated authority for the Austrian financial market. The Austrian FMA is responsible for: contributing to the stability of Austria as a financial market; reinforcing confidence in the ability of the Austrian financial market to function; protecting investors, creditors and consumers.
Libra Markets is a Forex and CFDs brokerage. According to the website, the broker is owned by Yield Enterprise Currency Software OÜ, Tallinn, Estonia and operated from Riga, Latvia. The government of Estonia allows forex trading within the country for those brokers authorized by the local regulator Financial Supervision Authority. However, we didn’t find any mention of Libra Markets or Yield Enterprise Currency Software OÜ in regulator’s register.
To add up, we have found numerous negative reviews from Libra Markets customers on the net. People state that they cannot get their money back and the company refuses to provide any kind of help.
When choosing a new Forex broker, it is very important to verify that they are in fact licensed for investors from your country of residence. Trading with a licensed broker ensures you will not have issues withdrawing your investment. The most trustworthy brokers are those registered with such regulators as FCA in the United Kingdom and ASIC in Australia. You can read our review on this broker here.
