Please Participate! Binary Options Broker Survey

FinTelegram wants to know from its readers why they register with online brokers for binary options, CFDs or cryptocurrencies. It is now known that most of these brokers are scams. Many thousands of customers have lost and keep losing their money. It seems that the operators of broker scams like Gal Barak are defending themselves by claiming to offer bets and not asset trading which is a financial instrument.

Their defense line seems to be that they claim that their clients would have been aware of the betting nature of their products. In this respect, they would have lost their money as a wager, according to their argumentation. We want to use the survey to find out if their clients were really aware of this.

Asset TradingBettingFun & Entertainment
I registered for
make profits with tradesbet for profitshave fun and thrill
I wanted to
it's trading with high returns and low riskit's trading with high returns and high riskit's betting with high risk of total lossit's betting with high returns and low riskno contact with agents
Call Center agents informed me that
yesnonot sure
Did you know that trades are not executed by exchanges or licensed brokers?
Did you know that no real money was needed for the trades and that they were fictitious trades?
Did you know that you played against the broker, i.e. he wins if you lose?
are held on segregated accounts* for my tradesare transferred to other companiesare a collateral for my virtual tradesare used as wager for bets
I was given the impression that my funds
(*) Segregated accounts means that your money and all the clients' money are held on seperated accounts with the broker acting as trustee for the clients. The broker may only use the money on instructions of clients (e.g. for trades). Licensed brokers are obliged to have segregated accounts for client funds which must not be used for the brokers business activities.
always been fulfilledsomethimes been fulfilled, they owe me moneyhave not been fullfilled, they owe me moneyno withdrawal request made
My withdrawal requests have

If you are a victim of a broker scam please join the European Funds Recovery Initiative (EFRI). Together we can make an impact!