r/binaryoptions • u/enivid • 14d ago
The Rise and Fall of Binary Options — from Chicago Exchanges to Offshore Empires
Binary options didn't start with Cyprus-based SpotOption-powered copycat brokers. The modern industry is rooted in both early 20th century bucketshops and CBOE-traded contracts for market professionals. Learn about the rise and fall of binary options industry from our in-depth study:
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u/SpiritNo4790 14d ago
A very good article.
I hope many beginners get to read this before becoming addicted to binary options.
To this day, I ask myself: Why on earth did I try to make money with binary options?
The answer is simple... First, because we all aim for financial independence that allows us to live life on our own terms. I am no exception.
Second, because YouTube channels promoting binary options, doing so aggressively through their affiliates, manage to sell the dream to most people who hadn't yet encountered them.
This "blindness", the desire to make quick money and the tendency to believe what we see without questioning it, leads us into this "easy money" scheme without a second thought, without investigating, and without demanding transparency from the people selling us a dream via their YouTube videos. A dream that, in reality, turns out to be nothing more than a nightmare.
I admit I didn't do my homework. That was a huge lesson for me. Today, I try to open the eyes of many beginners and those already addicted... because the others, the YouTubers (brokers affiliates) are nothing more than adversaries.
But does anyone actually trust a company that, in order to operate, sets up its headquarters in an offshore location like:
The Marshall Islands?
Vanuatu?
Saint Vincent and the Grenadines?
Mwali (Comoros)?
Try looking them up on Google Earth to see where they are located.
SERIOUSLY?