Binary option industry 4 hours

Binary Options Edge. "Indestructible" Trading method. Like This Unlike Chris 11 Oct 2013. Here we have an extremely simple 60 minute trading method coined the "Indestructible" indicator trading method. (I have attached the indicator download to this post) The trading method here utilizes following the trend which is always a big plus when trading binary options. when the Indestructible TrendWinner is Green, we only look for Calls and when it’s Red we only look for Puts. As an additional confirmation, one can utilize an ADX indicator and only trade when it is above the 19 level. I, however, believe this additional confirmation is unnecessary. The setup is two consecutive one hour candlesbars the same color as the indicator line followed by an exact entry is the beginning of the third barcandle. The expiry is 60 minutes but the method can be used on higher time frames also if you use 4 hour candles for your entry, the expiry will be 4 hours too. The two bars must be in "slope" or trending somewhat strongly before we make the trade. We need to see price moving up strongly for a Call and vice versa for a Put. Do not enter if price is just stalling or moving in a range.

The method works only in a trend. I have attached an example of a few winning trades utilizing this method. Indestructible TrendWinner Green Two consecutive Green barscandles in a rising slope Enter a Call at the beginning of the third candle. Indestructible TrendWinner Red Two consecutive Red barscandles in a descending slope Enter a Put at the beginning of the third candle. indestructable. png 19.84KB 384 downloads IndestructibleTrendWinner. ex4 5.38KB 1555 downloads. Like This Unlike acuter 11 Oct 2013. Au contraire. You should use ADX and DMI to determine the strength of a move . Couple that with " Ichi's " Tenkan and Kijun lines, that are moving updown at sharp , acute angles and you have a formula for success. I admit that I haver never, in my 84 years , been smart enough to come up with any original method , BUT I am smart enough to recognize what has value , and what does not . Two things I go by : 1 Learn from OTHER peoples mistakes .

2 Copy what people , who are smarter than you , are doing , or have already done . I graduated from High School at age 15 , and thought I was pretty smart . My best friend , in my class , was 13. He called me a dumb bell , and was right about that . I swallowed my pride , and learned more from him than any of my teachers and teachers back in the 1940's were much smarter than the present day ones . Stop trying to outsmart people who are demonstrably smarter than you . ( See # 2 ) THE GUYS WHO INVENTED ICHIMOKU AND ADX ARE SMARTER THAN ANYONE ON THIS FORUM . Sorry for using the term " smart " so often, but I am trying to make a point , ( which will probably go unheeded ) . Like This Unlike Chris 11 Oct 2013. Au contraire. You should use ADX and DMI to determine the strength of a move . Couple that with " Ichi's " Tenkan and Kijun lines, that are moving updown at sharp , acute angles and you have a formula for success.

I admit that I haver never, in my 84 years , been smart enough to come up with any original method , BUT I am smart enough to recognize what has value , and what does not . Two things I go by : 1 Learn from OTHER peoples mistakes . 2 Copy what people , who are smarter than you , are doing , or have already done . I graduated from High School at age 15 , and thought I was pretty smart . My best friend , in my class , was 13. He called me a dumb bell , and was right about that . I swallowed my pride , and learned more from him than any of my teachers and teachers back in the 1940's were much smarter than the present day ones . Stop trying to outsmart people who are demonstrably smarter than you . ( See # 2 ) THE GUYS WHO INVENTED ICHIMOKU AND ADX ARE SMARTER THAN ANYONE ON THIS FORUM . Sorry for using the term " smart " so often, but I am trying to make a point , ( which will probably go unheeded ) . Obviously there are multiple ways to trade. I was only stating my opinion that for this specific method it is not needed. No SINGLE indicator should be relied on and I intend on people coupling this with their own methods.

I am trying to supply a method in its most simple forum and allow others the ability to add to it and perfect it as they see fit. I appreciate your input, thank you very much acuter! Like This Unlike Tripack 24 Oct 2013. Like This Unlike Chris 24 Oct 2013. Yeah, I find it good you post multiple ideas like that. It gives readers some choices to pick from. No strat, no indicator is the best. Just pick something you like and that you feel well working with and use only that until you master it. The pissing contest has no sense if you compare indicators only. The most important is to find your own way. Exactly. Thank you. Like This Unlike mikerbiker6 29 Oct 2013. I think the system is not very well defined, look at this picture for example: Like This Unlike swede 30 Oct 2013.

Like This Unlike Chris 30 Oct 2013. The opening illustration is a big problem for me since the big arrows hide the reading on the trend winner line.. .for example, if you where trading according to the method, you would have had to pass on the first trade because the indicator was running "yellow" indicating no trend. the second trade was very, very close to the opening price on that candle, and unless you entered where the previous bar closed exactly, you would have been otm. the third looks good. but a 33% win rate will send you to the poorhouse real quick. I looked over many third candle entries and find the method flawed from the beginning. It may be a good supres type indi, but not accurate at all for this method. sorry if i pee'd in any ones corn flakes. go to the Sept 6 euro chart and see for yourself.

Lol you realize trades are taken at the exact opening like I said right. I made the mistake of picking the first trade in my indicator when it was yellow. So if we REMOVE that win and say we didn't place a trade there both second trades are clear winners? I don't understand what the problem is? 2 of the 3 trades on your chart that you drew arrows to were winners. And "Mikerbike" You took trades on the second candle.. I said the entry is at the BEGINNING of the third candle. On your chart you would of been 4 wins 2 losses. Not bad. And that is without even looking at ADX. Like This Unlike virionx 20 Feb 2014. Chris excuse ma ignorance, how do u use the ADX to determine the trend?

and thanks for the tips in advance. now i know wat to do..thanks bro. Like This Unlike virionx 18 Mar 2014. i think this method is awesome..really it doesnt matter the time frame u are using whether one hr or 30 mins or 5 mins. wat i do is i dont use any indicator just look at the candles. back test any of the charts and u will get wat i mean..most of often, when a candle moves up, it is most likely to close higher than the previous close (vice versa) so wat i do is as soon as the candle close i enter at exactly at the open..so for a 5 mins chart, i enter exactly at the open so its 5.05.00 and it ends at 5.10.00..u get more itm than otm. check ur meta4 chart (candlestick) and u will get wat i mean. its works 70% of the time. hey u win some and u loose some..

u cant expect to win all trades. if u know how candle works, this can actually work out 100%. PS. set targets(realistic) whiles trading..for me as soon as i get ma target (20$) i quit. and so far it working out fine..started with a live account on monday and i have 50$ extra from two days so if i keep going like this i think i can make it. know when to walk away dont be greedy.. Thank you Chris for this incredible method. Like This Unlike brieschko 01 Oct 2014. Is the ex4 file an alert? Have you built something that can alert if the indicator is green and there has been two green candles (the second closing higher that the previous close) and then alert is triggered? Might see if I can find someone to do this for me. Would be a brilliant EA. Especially if we added ADX >19.

Very simple but seems to work right! Great method!! Like This Unlike rommark 03 Oct 2014. I took this indicator, add 1M SR lines and traded 1M chart with 2M expiry time and here is last trades: 2. Instructible change color. 3. MBFX timing change geen for long, orange for short. 4. Got some help from ichi360 on 1M arrows as well but not in all cases. Download the indicators with the template from above screen shot: Like This Unlike ralianza 07 Oct 2014. Like This Unlike rommark 07 Oct 2014. rommark what binary option broker are you using? Like This Unlike brieschko 04 Nov 2014.

Thanks so much for this! I now have this on auto trade on EURUSD for binary on 5min time chart and have won 710. Not perfect I know but still making an easy profit just letting it tick over. I have built in ADX >23 for now. Will post updates as this continues but looking good so far! Making Sense of Forex Market Hours. When you are starting out trading forex pairs, whether it be in the spot market or using binary options, there is a lot of basic information required. Many traders skip over this basic information, and instead seek out strategies immediately. The forex market is open 24-hours a day because banksbusinesses are open at different times around the world, providing liquidity to forex pairs. Yet each hour of the day has different tendencies based on what part of the globe is open for business. Understand forex market hours, and hourly tendencies, and you’ll be better able to apply your strategies at opportune times. Want signals for Forex? We highlight the best service on the Signals page. Forex Market Sessions.

Major markets are open at different times throughout the day. Which market(s) is open directly affects the liquidity and volatility and forex pairs. The EURUSD for example is most liquid and volatile during the London and New York sessions, especially during the “overlap” period when London and New York are both trading. The USDJPY typically has the most volatility when Tokyo first opens, and when New York opens many hours later. Currencies generally see increased liquidity when one or more markets that actively trade, or use, that currency are open for business. Here are the forex sessions based on different time zones: These charts do not show every market in the world, although these are the major ones. The Canadian market is open while New York is open, and London overlaps with other European markets. Germany opens one hour before London therefore, some consider that to be the open, and not the start of the London session. Volatility, on average, doesn’t see a marked increased until London opens though. Those major sessions directly impact currency pair volatility. The charts below show hourly volatility. If your method is based on volatility or you’re using a trending method, focus on times of day where the price moves are largest.

The “spikes on the chart” are ideal times, as the price needs to be making higher highs or lower lows in order for volatility to increase during that time (see: Trading Efficiently – The 2 to 3 Hour Trader). If you are using more of a range trading method, or prefer low volatility, trade during the sedate times, where the charts show decreased hourly volatility. All figures below are current as of January 9, 2014. While subject to change, the charts provide a good overall context for relative intra-day volatility. 8 to 17 GMT provide the best trending opportunities, with 13 to 17 generally providing the biggest moves. Those seeking reduced volatility, or times more likely to quietly range, trade between 20 and 5 GMT. The USDCHF is very similar to the EURUSD in terms of its hourly volatility structure, although the USDCHF moves less overall each day and therefore overall hourly volatility is several pips less. The NZDUSD has very similar hourly volatility to the AUDUSD, and they both move roughly the same amount each day. Currently updated volatility charts and other forex statistics are available at Daily Forex Stats. Learning the basics, such as what the market sessions and hours mean to you as a trader, can significantly help in determining what strategies to exercise and when. No matter what time frame you trade on, you should have a checklist which helps you determine what type of market environment you are trading in. This will also help with filtering trades and capitalizing on good opportunities. Binary Options Trading Market Hours & Schedules. Versatility may not be the first quality that comes to mind, when Binary Options is brought up for discussion. After all, there are just two ways a trade can go: and it is not like there are many tools or ways of trading that can be used to create diverse trading systems, as is the case in Forex Trading.

However, in Binary Options, you can trade any of a large repertoire of assets. Anything from stocks, to currencies, to commodities: and the list keeps growing with numerous additions by enterprising brokers. Although, the variety of assets offered differs across brokers, there are usually a decent number of assets to trade with a top-grade Binary Options Broker. Understanding the different Binary Options Trading Market Hours & Schedules. With a vast array of assets to trade, would not it be perfect to be able to place a trade at all times? In a way, you can in Binary Options Trading: but technically, you would not be able to trade all assets at all times. Here is the deal, stock exchanges trade as specific times of the day, so stockbrokers and other people who work in the industry can go home to their family and live normal lives. And then, there’s the Forex currency market that is closed during the weekends and half the day on Friday, for basically the same reason why the stock exchanges shut their doors after certain hours had gone by. These are the two major markets, but that’s not all. Even, Forex still maintains core trading hours in four major trading centers, where much of the money on Forex is traded, resulting in high volatility and profitability (if high trading activity is your thing). Why Binary Options Trading Market Hours & Schedules matter? Aside the obvious, “Hello, you can only take a Binary Option position on a NYSE stock pick only during NYSE trading hours, and likewise for other assets that are available at only specific trading hours,” the different market hours and schedules influence the kind of Binary Options trading method you use. While one method may require you to take up high volatility assets and trade during busy trading hours, another may require you to do the exact opposite. You would also be able to manage different assets across the board, if you wish, and maintain profitability. Diversification reasons andor increasing one’s portfolio are two top reasons why a trader might go this route.

Either way, Binary Options offers the versatility to do so. Also, you may not be available all day to make trades, and seeing that regions have different time zones, it would make sense to note the market hours and schedules of options assets you are interested in trading. What are the Binary Options Trading Market Hours & Schedules. The two major Binary Options asset categories by market are the Stock Markets and Foreign Exchange Currency Market. We will discuss the trading market hours for both categories separately: Assets in US stock markets are amongst the most traded in this asset category. In general, stock markets in the US are open between the hours of 09:30 (9: 30 AM) and 16:00 (4:00 PM) Eastern Standard Time (EST). However, if your trading method is dependent on the volatility of the market, it may interest you to know that activity usually fall to low levels between the hours of 12:00 (12:00 PM) and 13:00 (1:00 PM) EST—which corresponds to lunch time for traders. For the highest trading activity, endeavor to take up positions during the early trading hours before lunch (in the morning). Aside, US stock indices, Binary Options traders, in their numbers, also trade assets in Europe. Popular stock market choices are the FTSE AND Xetra Dax. Market hours for these markets hover around 07:00 (7:00 AM) or 08:00 (8:00 AM) to 15:30 (3:30 PM) or 16:30 (4:30 PM) on weekdays. Foreign Exchange Currency Market. Although there are several currency and commodities market, Forex is the most active, and it makes a name for itself by being available for 4 days (24-hour days) and half straight without breaks in between. While the Forex market is generally not limited physical trading exchanges, there are four major financial centers where a lot of market activity happens. These centers only have their door open for a set number of hours per day, much like stock market exchanges.

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Additionally, we do not offer tax, accounting, financial or legal advice. Investing in real estate involves risk, and you could lose money. Prior to undertaking any real estate transaction, you should consult your own accounting, legal and tax advisors to to evaluate the risks, consequences and suitability of that transaction. Marketing, education and fulfillment services for Invested IQ are provided by Response. huge_it_share The After Hours Trading method For Binary Options. A web site I just reviewed made a statement that is sticking with me “you got to have a good strategy”. That is only too true, a good method is a corner stone of a great binary options trading system. Systems include fundamental as well as technical analysis and money management in addition to a method but today I am focusing on the method portion. There are lots of great strategies to be found on the internet ranging from simple use of individual indicators to techniques involving complex indicators like Ichi Moku, Bollinger Bands ™ or Elliot Waves. For the purposes of this article my examples will be based on my chosen indicators stochastic, MACD, supportresistance and moving averages. The good news is that this technique, the after hours trading method, can be applied to ANY good method and will probably improve your results. The problem with most strategies, and for most traders in general, is that applying method is hard. Even the easiest method to master is a difficult one to master.

First there are the rules. Each method has rules that must be followed, the tricky thing is that the market is always changing and rules have to be adapted. Another problem many traders face is knowing which signals to take. Some strategies are trend following, some are contrarian, some work better in range bound markets and some require decisive break outs. Compounding this problem are the indicators themselves. Many indicators, such as oscillators and moving averages, can produce both bullish and bearish signals regardless of market conditions. In addition there are false signals and whip saws to consider. I know that every one of my indicators, and every indicator I can think, can provide false signals. Trying to make sense of all the possibilities is hard enough by itself before you add in time frames. What time frame are you looking at? How long are the candles?

How long does it take a signal to develop? What expiry should I use for best results and more questions affect our trading decision every day. Now, try to synthesize all of these questions and answers into a coherent answer while the market is open. At any minute news could be released, economic data could be announced, a war could break out or oil supplies could be disrupted all factors that could change your analysis in an instant. It is no wonder that so many new and experienced traders alike get their heads spun and end up washed out of the markets. How is a trader to overcome all the noise and have the time to make sound analytical trade decisions? By using the after hours trading method. This is accomplished by focusing all your analysis time to after the close of the New York sessions and before the opening of the AsianEuropean sessions. This window provides a few hours of relative calm for market participants. There is typically no major business or economic news in that time and nearly all markets are closed. Traders can use that quiet time of the day for more efficient and effective analysis without the noise of an open and busy market. It also means that you don’t have to sit in front of the computer all day waiting for signals.

The really good news is that this method can be used in nearly any time frame of trading except the high frequency 60 second and 2 minute high speed turbo style of binary. I know some of you prefer to trade that way but statistically speaking less frequent longer term traders have a higher rate of success. You can use this method to get ready for a day of 60 second trading by determining your market stance and the underlying trend then only trading in that direction. How To Use The After Hours method. This is how it works, you can do this every day or any day that you want to make a trade. First, wait for the markets to close and give enough time for any after hours earnings reports to be released. Usually by 5PM the day is done and you can begin. I start by checking the earnings and economic calendars for the next day to see if any market moving events are on tap. Next I look at a chart of weekly prices, usually candlesticks, to get an idea of the underlying trend. I look to see what the long term trend is and where price action is relative to that trend. Basically, is price action moving in line with the trend or is it consolidatingcorrecting. This is usually a cursory look only as the long term conditions change so slowly.

Next I move down to the charts of one day prices using my trend lines, a 30 day EMA, stochastic and MACD. I may take a signal off any one indicator but a convergence of indicators is always a much better signal. If is see a signal I plan on a trade and enter it into my account as soon as the market is open. On the daily charts I stick to one weekend of week expiry for strong signals and one month expiry for weaker ones to give them time to move into the money. The thing is, if I don’t see a trade in the first 5 or 10 minutes of analysis I don’t trade. It’s that simple. The daily charts give signals on a weekly or bi-weekly basis which is not many I know. This technique also works very well with hourly and 30 minute charts providing numerous signals. The trick is to trust your analysis, enter each trade the next day and then sit back and forget about it because you are also using sound money management. This one year chart of daily S&P 500 prices offers 12 stochastic and MACD signals.

12 signals in one year is not a lot I know but you need to consider the fact that every single one of them resulted in a win using a 3 day to one week expiry. What would you rather do, trade a lot with dubious results or trade a little and be 90-100% right in your analysis? I don’t know about you but I prefer being right to being a day trader. Israel bans binary options industry, finally closing vast, 10-year fraud. 19 months after Times of Israel began exposing multi-billion dollar global scam, Knesset gives operatives three months to shut down or face jail terms. Simona Weinglass is an investigative reporter at The Times of Israel. The Knesset on Monday unanimously passed a law to ban Israel’s binary options industry, a vast, multibillion dollar scam that has defrauded millions of victims worldwide for a decade. The law, which will go into effect three months from now, came about as a direct result of The Times of Israel’s investigative reporting on the fraud, which began with a March 2016 article entitled “The wolves of Tel Aviv: Israel’s vast, amoral binary options scam exposed.” The law gives all binary options firms the intervening three months to cease operations. After that, anyone involved in binary options is punishable with up to two years in jail.

Fifty-three Knesset members voted for the law and none voted against it. The binary options industry, some of which has closed down in Israel in recent months as the legislation made its way through the Knesset, is an Israel-based enterprise which flourished with almost no intervention by law enforcement since 2007. Fewer than 20 Israelis have been arrested for binary options fraud, and none has been indicted. In September, the FBI arrested binary options CEO Lee Elbaz, when she disembarked from an airplane at JFK airport, underlining growing efforts by international law enforcement to tackle the crime. “We worry about the BDS movement,” said MK Rachel Azaria (Kulanu) in her introduction to the law. “This industry has a huge impact on how Israel is viewed throughout the world. Our government officials go to international conferences and their colleagues abroad raise their eyebrows because of this industry.” The law to ban the industry took shape after Israel Securities Authority Chairman Shmuel Hauser, alerted to the scale of the fraud by The Times of Israel, promised in August 2016 that he would take the necessary steps to thwart the fraudsters. That same month, Jewish Agency chief Natan Sharansky urged the government to close down the “repugnant, immoral” industry. The Prime Minister’s Office last fall called for it to be banned worldwide. In response to The Times of Israel’s reporting, the Knesset’s State Control Committee, headed by Yesh Atid’s Karine Elharar, convened a series of sessions early this year to discuss how to tackle the fraud. Once Hauser’s bill was drafted and received initial ministerial approval, it was shepherded toward Monday’s final Knesset approval by the Knesset Reforms Committee, chaired by Azaria, over furious opposition by key players in the industry and their lobbyists. In a bombshell speech at a meeting of the Reforms Committee in August, Israel Police Superintendent Gabi Biton said Israeli crime kingpins were behind the binary options industry and that organized crime in the country has been massively enriched and strengthened as a result of law enforcement’s failure for many years to grasp the vastness of the problem. “Our eyes have been opened,” said Biton, who investigates financial fraud and money laundering. “What we’re seeing here is a massive organized criminal enterprise.

We are talking about criminals at various levels of crime organizations, up to the very top.” He vowed: “We will use all the tools at our disposal to uproot this phenomenon.” The Times of Israel arranged for victims of the fraud to testify to the committee, including the family of Fred Turbide — a Canadian father of four who died by suicide in December having been duped out of his life savings by an Israel-based binary options firm. At its height, binary options was estimated to bring in $5 billion-$10 billion a year. Hundreds of firms have operated from Israel, employing thousands of Israelis, defrauding customers all over the world. Fraudulent Israeli binary options companies ostensibly offer customers worldwide a potentially profitable short-term investment. But in reality — through rigged trading platforms, refusal to pay out, and other ruses — these companies fleece the vast majority of customers of most or all of their money. The fraudulent salespeople routinely conceal where they are located, misrepresent what they are selling, and use false identities. The law that passed on Monday was a constrained version of the draft law that was introduced earlier this year. The original bill would not only have banned the entire binary options industry, but also forex and CFD companies that operate from Israel without a license.

It was subsequently watered down to apply narrowly to binary options. Critics have charged that this creates a loophole and that, with the new law in place, fraudulent binary options companies can simply tweak the product they offer and continue to operate. Some former binary options operatives have started to focus on opportunities to profit in the fields of diamond sales, cryptocurrencies, Initial Coin Offerings and predatory business loans. Others have moved their activities overseas — including to Ukraine and Cyprus. Retail FX. This exclusive report aims to serve as a manual, answering all of the questions on the Chinese multi-asset trading industry that you were always afraid to ask. The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and any or all Agreements: "Client", “You” and “Your” refers to you, the person accessing this website and accepting the Company’s terms and conditions. "The Company", “Ourselves”, “We” and "Us", refers to our Company. “Party”, “Parties”, or “Us”, refers to both the Client and ourselves, or either the Client or ourselves. All terms refer to the offer, acceptance and consideration of payment necessary to undertake the process of our assistance to the Client in the most appropriate manner, whether by formal meetings of a fixed duration, or any other means, for the express purpose of meeting the Client’s needs in respect of provision of the Company’s stated servicesproducts, in accordance with and subject to, prevailing English Law. Any use of the above terminology or other words in the singular, plural, capitalisation andor heshe or they, are taken as interchangeable and therefore as referring to same. We are committed to protecting your privacy. Authorized employees within the company on a need to know basis only use any information collected from individual customers. We constantly review our systems and data to ensure the best possible service to our customers.

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Integrating with Forex brokers or operating separate brands, license, or no regulation at all, advanced options or just a fun experience, is there a need for social or copy trading, how to respond to trading robots and what about America and Japan. All these issues will be more pressing this year in a much more crowded arena. In our Q4 2013 Industry Report, Forex Magnates examines the options faced by the binary industry based on the analysis of the firms that build the infrastructure itself. We spoke with top executives from Tradologic, TechFinancials, MarketsPulse, SpotOption and new comer PandaTS. This group of business focused technology experts has discussed the binary options industry’s split between gaming and financial trading, along with seven other topics identified as pivotal to the market’s future. This analysis, many other interesting articles and more data resources, all crucial to successfully understanding the FX industry at the start of 2014, are what makes the Forex Magnates Q4 2013 Industry Report a must have for any serious player in the Forex market. The report can be previewed here. GAIN Capital Supporting Bitcoin CFDs on City Index for UK Clients. Bank of Cyprus Fined $708,000 Over Serious Disclosure Failures. Meet the Newest Decentralized Gaming Platform, IQeon: Believe the Hype. I trained as a binary options salesman for a day. It wasn’t pretty. Times of Israel intern Iacopo Luzi got himself a start at a Ramat Gan firm he's relieved to report that it didn't work out too well.

I never imagined myself as an undercover reporter, but when I read The Times of Israel’s ongoing series of investigative articles into the plague that is Israel’s widely fraudulent binary options industry, I volunteered to apply for a job in one of the many firms that ply this trade. I’d seen in the articles that it’s not always easy to get in touch with these businesses if you’re a customer and want your money back, but I quickly discovered that it’s not too hard to get a job with one. Their ads are everywhere and they are constantly hiring. On Facebook, there are many pages where jobs are offered with thinly veiled job descriptions like “Company in the financial field is looking for retention manager to head up our new office in Tel Aviv.” I sent an email with my resumé to an agency called “Metamorpha Management” that was looking for employees. After a couple of days, I received a call from an anonymous number inviting me to visit the firm’s office in Ramat Gan. Since my byline had appeared in The Times of Israel, I introduced myself as Paulo Izico (an anagram of my name), and said I was a 27-year-old Italian waiter who had moved to Tel Aviv for love and was desperately seeking a job in order to remain in Israel with his girlfriend. They took the bait. On my first visit, I realized that Metamorpha Management wasn’t a recruitment office, but the front of a binary options company called “Binary St.” (It also calls itself St Binary.) After two interviews, and although I had told them I didn’t have a work permit and did not show them any official documentation, the office manager was sufficiently impressed with me to suggest that the CTO give me a chance. What swung it, I think, was the five minutes when I sat face-to-face with the CTO, Joseph, in his bare-walled, almost empty office, and he asked me to try to persuade him to bet on the result of a soccer game. Those five minutes tested my selling skills — the trait these companies most look for, the office manager told me later. The best candidates have excellent English and the gift of persuasion. They need to be able to sell refrigerators to Inuits.

I was invited to come and try out for a day. One morning soon after, I showed up at the office, in a shabby building in Ramat Gan. They sat me in a large room with about 12 people, full of computers and phones, next to some of their best sales agents. Three big television screens were booming Bloomberg TV. When I asked a sales agent named Patrick whether it was possible to lower the volume, he growled: “No, the volume must be high.” I was given to understand that the background TV noise helps persuade customers on the other end of the phone that they are talking with international experts who work in a big, buzzing trading room in a financial hot spot — not a small room in a nondescript building in Ramat Gan, Israel. For similar reasons, all the employees speak only in English, including to each other, and they all call each other by the fake Anglo Saxon names they use in their calls. Many of the sales agents are not native English speakers if they lapse into Hebrew, they immediately get yelled at by the office manager. The people working in the room around me were a diverse bunch. There was a gray-bearded ultra-Orthodox man who had a photo on his desk of his six children with the words “we love you” scribbled on it. There was a shifty blue-eyed guy with a strong Russian accent, a partially disabled army veteran, a guy who looked like he was in his teens, and a hipster with a long beard and tattoos. All different, yet all driven by the desire to earn lots of money, even if it was by allegedly cheating people if necessary. Of the dozen people in the room, about nine were doing sales — persuading clients on the phone to deposit money in binary options trading, and doing so by lying about their own identities and experience and the likely profits. The other three people were “senior brokers” — managing the clients’ accounts, giving advice on trades that the clients were carrying out on the trading platforms on their computers at home, and encouraging further deposits from clients.

My trial day happened to coincide with what they call the “marathon,” in which the workers stay in the office from 11 a. m. to 1 a. m. to contact as many clients as they can. The sales agents drink a lot of coffee and energy drinks, and the sense of urgent tension is palpable in the room. A whiteboard lists the names of all the employees. Columns detail the deposits each of them has brought in. Based on my conversations with the sales agents, I learned that at Binary St (which the workers also referred to as Smith and Taylor Options), salespeople are paid a wage of NIS 5,500 ($1,440) per month plus a cut of every deposit they receive from customers: $20 for a starting deposit of $250 (the minimum), $80 for a deposit of $500, and $120 for a deposit of $1,000. Technically there isn’t a limit, and customers can deposit as much as they want. When sales agents receive the customers’ deposits, the agents whoop and ring a bell, to celebrate the event in the office. “I once got a deposit of $10,000,” Zack, a “senior broker,” told me. Another time, he said, “a client opened an account for $250,000 and that sales agent got a bonus of $25,000.” The sales agents can make something like 30 calls an hour on average. Using a system that hides the phone number’s country of origin, they pretend they are calling from Zurich. They call clients all over the world: Mexico, Italy, the Netherlands, Finland, Argentina, Australia, Morocco. On the day I was there, most of the calls went to potential clients in the United States. Watching them work, I felt I was in a sea full of sharks waiting for their next prey. That unease increased many times, in moments such as when the office manager, Michael, shouted out to Patrick, who was seeking to reel in a deposit and had muted a call mid-conversation, “Catch this motherfucker.

” After a couple of hours of me sitting, watching and learning, one of the sales agents asked me to try calling a lead in Italy. Even though I had made my mind up ahead of time that I would not scam anyone, I knew I would have to make calls. I got lucky. The potential client, an Italian man called Mariano, didn’t pick up the phone. I was safe. And so was he, for the moment. Before and after almost every phone call, the sales agents frenziedly insulted customers, apparently psyching themselves up. The clients we called did not appear to be cold leads, but people who had provided their details after seeing some kind of get rich quick ad or video on the internet. Others may have responded to email pitches. Each sales agent had a long list of clients whose personal information could be seen on their individual computer screens — first name, last name, country of origin, phone number, address, even social security number. The computer systems also often enable the company to see whether existing customers are logged on to its trading platform, trying to trade. They make calls according to the time zone. Asia and Australia in the morning, Europe and America in the afternoon and evening.

“It’s always easier to convince them to trade when they are online, because that means that they are in front of a computer and they are willing to do it. When they are offline, maybe they are busy or they are working it is always harder,” Patrick explained to me. After a customer is convinced to make a first deposit, he or she is transferred to one of the senior brokers — who were described to me by the sales agents as experts on world markets and trades who give “suggestions” to clients and guide them through the trading process. Once clients have made an initial deposit, a senior broker is put in charge of them — to oversee their trading and convince them to put in further funds. The sales agents here preferred not to discuss widespread allegations that, in the binary options business, the goal at the fraudulent firms is to push for more and more until the unfortunate victim doesn’t have anything left. But Patrick, the agent sitting next to me, explained some of the basic rationale: “I have no interest in making the client win money. My goal is that they deposit.” In the room where I spent my entire day, nine people had the task of convincing new clients to trade. Only a few people, the senior brokers, manage the clients’ accounts and deposits. The worst part of watching these sales agents work with clients was seeing and hearing how they persuade people to start trading: their manner is mainly friendly, but insistent — persuasive and promising, but also threatening at times. Sometimes customers just gave in, agreeing to put in money because they were exhausted by the dogged persistence. To me, hearing both sides of the conversation, it seemed like a kind of psychological violence that works especially well with desperate and poor people. During my time next to the sales agents, I heard something like 70 calls and only a few times did the target hang up without actually depositing funds or at least promising to do so. Almost everyone listened to what the sales agent had to say, probably because it was exactly what they wanted to hear. In more than one call, when they saw that clients had an account that was blocked for international transactions, they told them to call their bank and unlock the payment. “It’s going to take five minutes,” the sales agent says.

“I’ll call you back in 30.” Before and after almost every phone call, the sales agents frenziedly insulted customers, apparently psyching themselves up. “Bitch,” one of them shouted. “Motherfucker.” “You idiot.” At times, they muted the phone in mid-conversation to shout abuse. “I’m going to steal everything you have,” said one agent, muted, in mid-call. Some of the things I heard that Wednesday made me believe that these employees would do almost anything to get their customers’ deposits. “This thing will change your life,” they assured customers. “You need to be a winner,” “You have a 70 to 80 percent chance to win here,” “Do you want to remain poor and miserable for the rest of your life?” “You will make a lot of money.” I went to the restroom several times because I couldn’t take it anymore and needed a break from the frenzy in the room. Patrick contacted an 18-year-old boy from Macedonia. The teen simply would not agree to put in money. Frustrated by his hesitation, Patrick ultimately screamed, “So, you will starve to death, fuck you!” and slammed down the phone.

When I told Patrick that the boy was only a teenager, he replied, “I don’t give a fuck! If you want to do this job, you can’t think about people you must not give a shit about anyone.” The sales agents always reassured their clients and potential clients that Binary St is a regulated company and not a fraudulent firm like others. “We are professionals,” they frequently said. “We make millions for our clients every day.” “Scam companies usually ask for a deposit of $10-$20. We are a serious company, that’s why we ask $250 for starters,” Zack, the Russian guy, told a client. The Times of Israel has documented some of the numerous ruses that fraudulent binary options firms use to separate clients from their money: misrepresenting themselves as investment experts, lying about their identities and location, taking more money than a client has agreed to deposit from their credit card, making trades without clients’ permission, refusing to release clients’ funds, manipulating their trades via rigged trading platforms. I personally can testify to the misrepresentation and the lying about identities and location. During my day, they asked me several times to make calls to leads. Some went unanswered. When I finally got a Mexican client named Gutierrez on the phone, he and I again got lucky. He told me that he didn’t have time to speak and hung up. I spent hours trying to learn the system, watching the sales agents work, which is the usual way the recruits are trained.

I also ate a lot of pizza with my “colleagues,” who were perfectly friendly to me. Away from the phones, they appeared to be nice, normal people they joked and laughed like a group of good mates. You’d not have thought any of them made their livelihoods lying about who they are, where they work, and, apparently, what would become of their customers’ money. When I heard a woman in the US telling the sales agent that she’d ask her bank for a loan to start trading, I couldn’t take it anymore. With my heart beating hard, while the sales agent was away from his computer, I took down her email. “Don’t trade with them. They are a scam,” I wrote to her later. At midnight, I asked Michael, the office manager, if I could leave. “That’s fine,” he said. He said they’d call me the next day to tell me when to start. Unsurprisingly, they didn’t. I’d hardly shown a flair for the job. The Times of Israel emailed Binary St a series of questions related to this article: 1. Is Binary St a regulated firm?

If so, regulated where? 2. What is the nature of the relationship between Binary St and Metamorpha Management? 3. Are the sales agents of Binary St told to lie about their names, professional experience, and location when speaking to clients and potential clients? 4. What are Binary St sales agents told to tell clients about their likely profits? 5. Is it true that Binary St uses a system that fakes the phone number sales agents call from? We did not receive a response. The Times of Israel has been exposing Israel’s fraudulent binary options industry in a series of articles since March, beginning with an article entitled “The Wolves of Tel Aviv,” and has estimated that the industry here numbers over 100 companies, most of which are fraudulent and employ a variety of ruses to steal their clients’ money. These firms lure their victims into making what they are duped into believing will be profitable short-term investments, but in the overwhelming majority of cases the clients wind up losing all or almost all of their money. Thousands of Israelis work in the field, which is estimated to have fleeced billions of dollars from victims all over the world in the past decade. The Prime Minister’s Office in October condemned the industry’s “unscrupulous practices” and called for it to be outlawed worldwide. Israel Securities Authority chairman Shmuel Hauser subsequently told The Times of Israel that consultations had begun on the framing of legislation to bar all Israel-based binary options operations from targeting anybody, anywhere. (Israeli firms are already banned from targeting Israelis.) The consultations have extended to Attorney General Avichai Mandelblit and to the government, he said. Responding to The Times of Israel’s reporting, the Knesset’s State Control Committee held a hearing in January on the government’s failure to shut down binary options fraud.

The committee chair, MK Karin Elharar (Yesh Atid), demanded that the police begin enforcement activity against fraudulent binary options firms in the next month and that the Israel Securities Authority urgently advance legislation to shut down the entire industry. Israel Police ignored Elharar’s invitation to the meeting and did not attend. A follow-up hearing will be held on February 28. The FBI told The Times of Israel this month that it was investigating binary options fraud worldwide, and invited victims and informants to contact it.