option rally binary options broker

jezzer

anyone ever hear of option rally based in Cyprus?
I came across them and signed up with them but didnt deposit anything, they called me and claimed to win 8 out of every 10 trades, they said if for example i invested 10k they could guarantee me an average return of 20-25% per month, they apply an account manager to trade my account for me.
they say they say that they trade low risk trades which is why they have such a good win rate, could this be possible? they are as far as i can see regulated in cyprus and all i can see online are a few people who say they couldnt get thir money out but possibly that is because they didnt submit the correct documentation etc.
Anyone offer some advice? thanks...

Mr.David

I


Wish

syntheticjunk

OK. With binary "options" you betting that price of financial instrument will go up or down. Your broker is on other side of the bet. Basically they are bookmakers. So when you'll win they will loose.
Now imagine situation - you opening account with Paddy Power, they put some bets on your behalf and guarantee 20-25% return each month.
How realistic it is?

jezzer

thats the thing, so how can they guarantee me that return?

what really happens? the guy on the phone said to me that they completely guarantee that and that i will not loose money, so say i sign up and deposit 5k, what really happens from there?

Mr.David

jezzer wrote: »

thats the thing, so how can they guarantee me that return?

what really happens? the guy on the phone said to me that they completely guarantee that and that i will not loose money, so say i sign up and deposit 5k, what really happens from there?

You lose your money and cannot recoup it. Its not even close to being credible.

jezzer

and how do they explain it when my money is gone? get away with it?

syntheticjunk

Very simple - unexpected market move and nothing what you can do.
Don't forget - it's only sales rep that promised high returns. It's not documented anywhere.
I think I should get into this business - easy money

jezzer

that simple eh? wow, how do they get away with it??

syntheticjunk

Because you will sign agreement, where you "understand the risk involved and that you can loose part or all of your investment and you are responsible for all the loses".
Check their Conflict of Interest Policy:

Conflicts of interest can occur in a number of situations, for example:
• The Company is likely to sustain an overall financial loss or avoid a financial loss, by executing a client’s specific order.
• The Company is likely to sustain an overall financial gain by not executing a client’s specific order.
• The market moves to a direction of a point/timing when by executing client’s order will result in a financial loss for the Company.
• The Company’s hedging policy is affected negatively by the market movement and as a result client’s orders are rejected in order to prevent a financial loss for the Company.

As you see their documentation says different things

jezzer

indeed! dodgey business