Canadian Exclusive on binary options 101 and risks involved
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(The following rant/blog is my recent and honest, personal account of what might have been my big financial mistake of the year.
This is how I felt at the moment as I couldn't hold my true feelings as someone struggling to survive in a world where rich and poor is real. The methods one tries to legitimately achieve wealth, in this era seems just as extremely difficult and vulnerable to potential telemarketing schemes. Since the "door to door" encyclopedia days which was way way back after the second world war.
Products have since changed from globes, vacuums, to actual stocks, trades, and commodities in social media that cyber marketing now has to offer. Imperfections via personal electronic information and extreme hacking, one has to watch their electronic transactions much more as a consumer, entrepreneur, and potential investor, even in Start-ups. (Remember the Rob Ford video that made 5 plus thousands of dollars online never to be "produced"?) I didn't financially support it and was surprised how gullible (by public self interests) one can be to endorse a whole farce via a popular gossip website. At least it was apparently given to harm reduction centers in Toronto. Apparently after, no video, ever surfaced. It looks quite easy to pull off but something still stinks. Mislead donations of fake ills, promises of uber beauty, or get rich by somebodies unique proven way. That was always the same method someone else made it happen, the same way.
Tupperware for example was a door to door item by word of mouth and Tupperware parties to recruit the pyramid sales stock" contenders, before now being sold for profit in dollars stores or likely online, if it has a different twist for even more money.
My personal opinion and experience, was not and still is not intended to defame or damage the reputation of the party in mention, as to make the consumer aware that what we know as telemarketing is alive and well electronically and there are fast risks. Regardless if you risk 250 to 5000 hard earned electronic liquid.
To recap the course of my lesson.
I am dipping more into entrepreneurial adventures like I never had, in my middle financial life.
Learning of Bit coin, binary, code, self publishing, E-baying, Pay Paling, Amazoning has given me the thirst to explore and test the "electrepreneurial" waters.
I was curious about making investments with a binary broker site I checked browsed online and registered an account. A day later as I was checking out the website log in and navigating familiarity with the website. The second time logging in, I immediately received 2 imposing calls from someone claiming to be a Top broker.
After relentlessly trying to convince me if I, "pre-qualified?" with my debit credit card. The quick tongued top broker made a withdrawal for 250$ US, without my proper authorization to withdraw my liquid assets from my {chequing (CDN spelling} account.
Top Broker then went as far as to try to withdraw 5000$ more from my debit card. Which I told Top Broker not to and yet Top still tried. They asked if I had another credit card. By this bewildered point finally snapping back to financial reality, I asked for their business information and the agent wasn't compliant by telling me "some trust worthy joke." This is when I should have gone with the gut.
I would get my money back if I didn't want the demo, agent claimed, that money would be put into my account.
(My first beef is as far as I know a demo of most products means should not cost! 250 dollars? )That for me breaches sense of trust. I reiterated to this unknown Top broker, more than once that my budget was approx.700$ a month, rent included, which left me with a little over 200$ per month. I tried in vain to explain amid the stubborn persistence.
It would be wise to avoid the problems and just reimburse me in full the same way you took it. Without having to send any scanned # color photocopy of my passport, birth certificate, bills, DNA and personal economic info as it didn't seem to be problematic to withdraw from any persons account in the first place "regulations". Get really familiar with that word "regulations" .
Who has in physical, can claim they had a win with binary in Canada. Maybe we should ask for their colored scans of their passports, in head office Cyprus huh? Since you pay Long Distance to speak to a dude still trying to school me on up-selling and wont give the client a full name! Mind the manager was sympathetic to school me on the truth of the industry. That I respect as it almost never happens.
In conclusion, I just might consider (provided I had 50 thousand dollars) one day soon to take a "gamble" on "double or nothing price is right" for sugar cane stocks in Trinidad and Tobago.
Update On Wed 14 2013
I had been quite patient as it had been over a week in business days since my request to get my money back. No true email follow up. No call back. I took the situation to my bank manager who promised to resolve the ticket.
My bank manager took on the case and I was reimbursed the full amount 250.US. (minus the stress, numerous correspondence, and long distance calls). The lesson learned even from this brief yet intense resolution, from all the parties involved
1. Research research research research Google research research....
results: http://www.topoption.com/# ; http://www.fxempire.com/binary-options/anyoption/ ; http://money-proof.com/traderush-a-binary-options-scam/
2. Trust your gut before making most to all decisions. Practice.
3. Secure, review, maintenance frequently all your electronic financial information and transactions.
4. Get way more acquainted your bank services, advisory, brokers and managers as any other business start up that would require financial advisers.
5. If you cant feel them or see them physically or handshake electronically. eg:"direct email follow ups". Just like an actual flesh business partner that shares your passion. Don't join em.
I don't hate as everyone has to make a hustle sometimes, to make ends meet. Worse things are happening elsewhere. I learned a valued lesson from the Top broker. The gumption they had was quite strong and full, that I am sure their successes are a minute away. Don't take no for an answer is a gift and hard earned skill (in proper context).
Problem wit today's world, some people play so smart but don't have no heart to make it better. Electronic world will have growing pains to come. Jah. bless. love.
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