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The binary-options black hole: Forget about making money, it will suck in what you have

Run by offshore companies, platforms like Olymp Trade lure investors with promises of handsome returns. But the reality is different: Even if a trader has an equal number of wins and losses, the final earnings are less than the money invested. And in case the trader wants to withdraw what’s left, they will block the account.
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jyotindradubey
10 Jun 2019 15 Mins Read 0 comment
Olymp Trade, formed in 2014, is run by an offshore company, Inlustris Ltd. The platform allows trading on an exotic financial product — binary options; courtesy of Olymp Trade via Facebook
Olymp Trade, formed in 2014, is run by an offshore company, Inlustris Ltd. The platform allows trading on an exotic financial product — binary options; courtesy of Olymp Trade via Facebook
"How can you not allow me to withdraw my own money?" Sudhakar Rane (name changed) was bursting with anger when he called the helpline of online forex-trading platform Olymp Trade. “You need to complete trade volume of USD3,000 before you start withdrawing profits,” the operator replied. “But don’t worry, Sir. Profits are much more when you invest more.”
identity of the owners. It replied: “The company is the member of the Financial Commission, which is our regulator. You can view our certificate here. This shows that we are a reliable broker with a high security level. We work since 2014 and we have more than 3 million users all over the world.” ( Graphics by Abdul Shafiq)
"How can you not allow me to withdraw my own money?" Sudhakar Rane (name changed) was bursting with anger when he called the helpline of online forex-trading platform Olymp Trade. “You need to complete trade volume of USD3,000 before you start withdrawing profits,” the operator replied. “But don’t worry, Sir. Profits are much more when you invest more.” identity of the owners. It replied: “The company is the member of the Financial Commission, which is our regulator. You can view our certificate here. This shows that we are a reliable broker with a high security level. We work since 2014 and we have more than 3 million users all over the world.” ( Graphics by Abdul Shafiq)

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