ASIC has proposed a ban on the sale of binary options to retail clients.
A review conducted by ASIC in 2017 found that:
Those are not good odds. Trading binary options is gambling, make no mistake. The Follow Me Trading website has this at the bottom of the page:
- 80% of clients who trade binary options lose money
- 72% of clients who trade CFDs lose money, and
- 63% of clients who trade CFD over currency pairs lose money.Even those operating the business admit that it's gambling. If you want to gamble, and you are prepared to lose your money, then go right ahead, but don't think for a moment that it's investing. It's gambling. And if ASIC has its way, soon all these binary options "trading" businesses will be history; in this country at least.
Most liked posts in thread: Followmetrading.com
They wouldn't happen to be a client of Servcorp, whom offer a "Choice of coworking, private offices or virtual offices" at that very same business location, (or would they?):
https://www.realcommercial.com.au/building/level-36-riparian-plaza-71-eagle-street-brisbane-70greggles likes this.
Hello everyone I would like to address this post as its heavily defaming remarks
My name is Josh Cavallaro and yes I was one of the CEO’s at Markets And You and yes I did get mixed up with some people from the gold coast who basically destroyed the 6 years of work I put into making a system to generate people a secondary income.
As I have told any client we have called from Markets And YOU this was the reason why I left the company and started all over again.
I challenge anyone to prove anything I’m about to state to be wrong
1. Markets And YOU and binary - Yes its true I have used binary.com as a preferred broker of choice as they are the second largest binary options platform in the world. However it is NOT TRUE that we lure people into putting money into binary we do not get any sort of kick back from binary so there is no benefit or reason to do this. Just like any broker if you know what your doing you can generate money through successful trading this has been and still to this day is my main focus and goal. To create a program that would allow people to follow successful traders automatically.
2. Sign up Fees - Follow Me Trading has NEVER charged ANYONE signup fees. our prices are public, we do not lock people into contracts, and we charge a very fair price of $65 per month no contacts, no signup fees, if you like our service keep going if not don’t - its as simple as that. We have a open community within our program where users can chat to one another or post and comment to anyone on our network including the traders, staff, and other members. Also I would like to make this very clear we do not have invested interest in what size account you fund with binary we do not make money off it what so ever, $100 or $10,000 it dose not matter. We make our money from people continuing to use the service and paying the monthly fee and for that we need to perform as no one would continue using a system that does not work.
3. The Photo taken from our facebook page - This photo was taken at a trading convention in Indonesia with the binary team. I was presenting our new product which enables people to follow traders who are ranked on a leaderboard automatically based on their success and was looking for trading talent to join and help with the project. The people in the photo are mostly coders who had ideas of integrating a trading program called meta trader into our system in order to generate more traders for the system to rank.
4. People claimng to be charged $17,000 - Follow Me Tradings prices has never included a signup fee. However before Follow Me Trading I was involved with a company called Markets And YOU who did charge big sign ups fees. The person responsible for doing ALL of the sales and that side of the company was a business partner who I made the terrible mistake of going into business with. After 4 years of disappointment I left the company. This was the whole reason why I started Follow Me Trading to get away from people who have no moral compass. I would also like to add that Follow Me Trading has nothing to do with Markets And YOU it would only take 2 mins of research to discover this fact.
I would also like to say to the two people who are writing these defaming remarks about me under the new laws in Australia with regards to defamation and public slandering you should know that I can and will be using this against you – I have engaged in legal action and currently a case is being built. This is a serious offence and I would recommend you seek legal advice.
I am formally requesting that these comments involving my name and other remarks be removed as they not true and they hurt my reputation and new business which has over 400 members and growing every day. If anyone would like to ask any questions regarding my past or current activities we are an open book our name phone numbers and program is all public knowledge.
Feel free to call us on: +61 730882829 or email: Josh@followmetrading.comKnobby22 likes this.
Never heard of them. Are they flogging binary options trading signals?
If so, then I'd advise you to stay away. Binary options trading is gambling.
Hi Josh, I have been with Follow Me Trading since you started from Markets and You. I am just losing money hand over fist. Down to 118 dollars in the kitty today. I have done everything you have said to do but still my account has just been decreasing over time. Sure the system sounds great, and if it worked I would be making money instead of paying out a subscription fee each month and losing each trade on top of that. This is not a defamation on you but on the system. It is binary trading and yes it is gambling. I have learnt the hard way and lost all of the money I have invested over the time I have been with you. I have never been much of a gambler and got swayed into thinking it was a real system in hopes of providing a little pocket money in my retirement. Please people, do not be a sucker like me and loose you hard earned money on this system.