TitanTrade, a binary options scam ? 

titantrade binary options scam 

Unfortunately Scans are extremely common in the trading industry, mostly because binary options allows people to earn money on the internet and therefore are an attractive investment product. Seeing the interest investors have in binary options, bad people create fake broker websites and steal investors money. The ASIC proves once again that they can spot scammers like they did with the broker TitanTrade.

The ASIC Vs the broker TitanTrade

 

The ASIC is the regulator of the financial markets in Australia, and it seems to have a dispute with the binary options broker TitanTrade. Apparently, the ASIC had been able to freeze bank accounts of a family that is involved in a binary options scam worth millions of dollars. involved  in this huge binary options scam are Anthony “Tony” Senese, Sandra Senese and Cameron Senese (their son). If the ASIC was able to freeze their bank accounts, it’s because it has evidence about their illegal activities in the financial sector and because the stolen funds belonged to australian people.

After long investigations led by the ASIC, the financial regulator found that a lot of companies and people manage the broker TitanTrade. What is more impressive again is the bad management of its traders money and the way that the people managing the broker use this money for personal use.

The father, Tony Senese, who may be implicated in the TitanTrade scam has a criminal record and has been judged guilty of “white-collar” crimes. He had been sentenced to seven years in custody in 2002 after having used $5,000,000 of customers (investors) Capital for personal use. The ASIC believe that to this day similar practices have been made again through TitanTrade, the Senese family may have transfered $4,000,000 of traders funds to their own bank accounts. The ASIC suspects these people and may have discovered a huge scam.

Furthermore, the broker TitanTrade has been charged for some other illegal practices, it seems that its salesmen utilised agressive methods that psychologically pushed the customers to their limit to make them deposit their money on their trading account. The money withdraws or deposit bonus denial are also part of their illegal practices that seem to be common within TitanTrade.

TitanTrade is a binary options broker without any licenses and are unregulated, so it is strongly advised to not use this broker in order to keep your money safe. The type of practices mentioned by the ASIC is really common among unregulated brokers, so it’s important to choose a serious broker that owns licences to avoid any form of binary options scams.

Avoid binary options scams

As you can see, numerous people in the world are victims of binary options scams. When a trader or investor doesn’t know much about this sector and trusts the salesmen working for fake brokers, he can easily lose several thousand euros, we already have seen investors that lost up to €100,000. It is essential to be very careful about the binary options brokers you discover yourself or the ones you have been told about.

The only solution to avoid becoming a victim of binary options scams  is to choose an authorized binary options broker, that owns authorisations and licences that verify their activities, complying with local financial rules and authorizing them to provide financial services to local people.

There are a large amount of regulated binary options brokers in the trading industry. 24Option and TopOption are two of them, companies that posess licences from the CySEC and are registered with european financial regulators such as the AMF (France), the BaFin (Germany), the CNMV (Spain), the CONSOB (Italy) or the FCA (UK).

The advantages of BonusBinaryOptions.net

Opening an account with one of these binary options brokers mentioned on our website will grant you some exceptionnal advantages. The first one is the negociated bonus on your deposit, generally this (high) bonus isn’t offered to new customers of these brokers. Let’s take the example of 24Option, usually the bonus on the first deposit is 20%, but if you open a 24Option account using a link on our website, this bonus goes up to 100% and allows you to double your deposit. In addition, you will also benefit from the BonusBinaryOptions.net guarantee. What are you waiting for? choose a serious binary options broker and start making a profit speculating on financial markets!

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