Binary Options, BigOptions, Bank De Binary, OptionBit, Binary App-810, John Callaghan “The Insider John” Dear all who will come across this message. I’d like to share with you my beta test of the Binary App-810 by John Callaghan, “The Insider John” and the binary brokers involved BigOptions, Bank De Binary and OptionBit. There is a big hype in the net about this software. John Callaghan, the creator, is claiming making over $130K in two months using it. In case you’ve never traded binary options, it is very simple. Basically, you placing a bet that the underlying asset will move either up or down within a particular period of time. The Binary App-810 is using currency pairs price action. As simple as it may sound, those of you who ever traded on Forex should know how unpredictable the price action may be. You would also know well that brokers do cheat and ALWAYS and I do mean it, ALWAYS play against you, their client. To be successful there one must have a really deep pocket, have sound knowledge of fundamental and technical analysis, exercise a good game plan, etc. especially in todays’ market, heavily manipulated by Feds and flooded with false news by corrupt governments and media. I was getting a load of spam in my junk folder daily, so I decided to check who is that persistent and why. I googled the thing and sure enough, every single lead promoted the app like the best and only way to get rich quick. What may be appealing to an unsuspected client is a 60 day free trial, which we all know, is not going to be free. In other words, the damn thing is another looser and scam, just like we all know, and the money lost will be a price to pay for the 60 day “FREE” trial. So, I opened three accounts as advised by John and deposited funds, a minimum required by each broker. Unlike any other broker I dealt with before, these guys do not make you wait before all the compliance formalities are settled and allow you to place trades the second your money hit the bank. Meanwhile they rest assure you, they are registered and licenced under European Union standards. First of all, unlike advertised, there is no auto trading option during the 60 days trial. You would have to place trades manually. The app started well for a few days while my accounts we not fully set up. I had may be 1 loss out of ten. However, once the documents were submitted and they set up their side of the system, that was the end of it. I lost all my gain. And stopped trading at that point. It became obvious, they were trading against me and there would be no way to win that game. Before that, I was called once by a representative from each broker. They were, like one, promising to work with me to grow my account. Here is what they do to convince people. While staying with you on the phone, they are giving you a signal you are placing at the moment they say. You win that one. And they say, this is the way they are going to help you. In exchange, they will ask you to deposit some more money on account. That is the last time you will hear from them until two things happen, 1. You blow your balance and they call you to deposit more, when the trick will be repeated, 2. You decide to withdraw your money. Here you will be really surprised, because the withdrawal option… will not be working. Well, you may say, may be it is something on my end, and so they will keep telling you. But no. they will be playing you until you reach a boiling point. The truth is, you may not see your money again. The objective there is to convince you to make a deposit and make you trade, until it is all gone. This is how it is. All three brokers I dealt with are located in Cyprus. Needless to remind what happened there when major banks declared that their account holders lost 50% of their accounts and the rest became equity, in other words given to those account holders in form of shares of those failed banks. The brokers are holding their/your money in those banks, that are set to do that again. That Cyprus bank scam was orchestrated to tune up the legal mechanics of the extortion process. We are yet to see it happening all around the world. So, the bottom line is, John Callaghan “The Insider John” and his Binary App-810 is nothing but scam. He will be an introducing broker on your account and will be benefitting from your trades. But the only way for him to do that is by making you lose because you don’t pay from you winnings, don’t you? The way your gain will be shown on his app is deceiving because it will make you feel you made tons of money. However, it includes your initial bet, the money you invested. So you will be watching your account shrinking and not realise you are on a losing path until it is too late. The customer support there is ridiculous. You will be lucky to get a response in about 4 days when it is no longer relevant and it won’t really answer any of your questions, not to mention complaint. Plus, it sounds like it is located in India. Certain words I know are commonly used in communication by people there, easy to recognise. The binary options brokers, undoubtly all but particularly BigOptions, Bank De Binary, OptionBit are either complete fraud or employing fraudulent practices and will absolutely not refund your money without hassle or ever. If you do get your money back, consider yourself lucky and never deal with these people again. If you happen to make a deposit, never add funds to your account again. You will lose it all. And please share your experience here at the Rip Off Report, help others avoid the scam. And another indication that these brokers are scam artists and that your privacy and identity information is at risk once you trust it to these companies. Your contact information will be immediately sold to online casinos and other gambling businesses. They will start calling you offering services. .
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