Few days ago the Grande Prairie Daily Herald-Tribune published an article titled: “Seniors, be aware of scams: ASC†by Jocelyn Turner. (http://www.dailyheraldtribune.com/2016/06/06/seniors-be-aware-of-scams-asc) ASC is the Alberta Securities Commission. The article is very good senior citizen scamand I am very happy to see news like these being available to the public highlighting the many scams targeting people online. It is only sad the news never made it to a broader audience, but I will try to help on that and make my little contribution to spread the voice.
Senior citizen scams is a horrible thing to do and I hope the authorities get these fraudulent companies or individuals. However, there is something in the article that is not objectively described, and that is the use of the terms “a game of chance†and “ a bet†as being associated with the concept of Binary Options Trading.
Please let me explain myself, but for that I will go back a little, You know I have already talked about scams and fraudulent offers online … and I mentioned as well the association between the words “free†and scams … and there are other terms, such as “risk-freeâ€, “effortless “, guaranteed, etc. All these are use widely online to attract people … and you know people is attracted easily because they like those terms very much … it is the perfect “baitâ€.
I am not sure that every single offer using these terms is a scam, but I am 100% sure every single scam start with those words.
And why is Binary Options being associated with a scam or just referring to it as the Binary Options Scam? …. I would say that if somebody sells you Binary Options trading risk-free, effortless or guaranteed … they are lying .. I am would agree that could fit the definition of a “scamâ€. It is just the same as somebody selling you companies stocks saying that you can only win. We know that is not true .. That also fit the term “scam†but, Would you call the stock market a scam? … Obviously not, The whole world economy depends on it …. But, we know there are people doing scams hidden behind the stock market … Ponzi scheme, etc.
So, it is not the stock market that is a scam, and if the stock market is not a scam then Binary Options can not be a scam because it depends on the stock market
With that being said ..
It is true that Binary Options is risky … and perhaps the most risky options trading there is … and that is why the profits are so high … There is a logic in finance investments … the higher the risk the higher the profit
However Binary Options is not “a game of chance†and when you are trading that is not “a bet†…. That is the absolute true for anybody doing Binary Options seriously, with knowledge, analysis and risk management … and when I talk about Binary Options I am telling you my experience, the risks and the methods to manage that risk … I am also telling you that the probability of losing money will always be high but, there are ways to manage that probability with knowledge of the market situation and analysis.
I am also telling you that is you don’t do that analysis and prepare yourself, Binary Options for you will be the closer there is to “gamblingâ€, “a game of chance†and when you trade “a betâ€. I am categorically telling that you should not do that because you will likely fail.
If you enter Binary Options is because you are willing to prepare yourself, you have the extra money to spare and you enjoy challenges … That was me when I started and that continues to be me.
Selling Binary Options to a Senior Citizen is unprofessional and inmoral in essence …. And I am not saying that senior citizens are not capable of preparing themselves or enjoy challenges and they might even have the extra money  … what I am saying is they have to be told all the risk involved to the minimum detail … but, this is the true for any body … every single person considering Binary Options should be aware that more than likely money will be lost and if they don’t prepare themselves that could be 100% of their money.
There is a chance to make very good profits, only if you are prepared, you get the knowledge, you manage the risks and enjoy the challenges … if you do that like I am telling, you will succed and anything, including Binary Options Trading, will work for you …
Cheers
LO. Diaz