Is Plus500 a Gambling Site?

[-Shay-]

These articles might be of interest. Forex and Binary options are getting alot of bad press in Israel lately.

They are very long (Sunday reading ) and I felt a little sick reading about the depths they went to exploit customers.

I knew Forex and Binary was shady, aggressive and terrible value for money but I didn't realise it was a down right scam in most cases.

http://www.timesofisrael.com/the-wol...-scam-exposed/
http://www.timesofisrael.com/why-has...how-she-tried/

Sickening. Thanks for the articles.

[universal4]

Good articles, and one of the most important points is

He had been instructed to present the binary option as an “investment” and himself as a “broker,” even though he knew they would most likely lose all their money. “The client isn’t actually buying anything. What he’s buying is a promise from our company that we will pay him. It’s gambling and we’re a bookie,” he says now.

Binary options sites and their affiliates should NEVER use the word investment, since like the "broker" stated you are NOT buying anything.

Another point made in the "wolves" article

“broker’s” true interest was for them to make unsuccessful predictions and lose their money.

Rick
Universal4

[Triple7]

It's gambling. It's popular because customers (or better said: players) do not have the perception they're gambling. It's also more interesting (and socially accepted) to tell at a dinner with colleagues, relatives or friends that you're doing forex some evenings of the week or binary options than that you're playing hours and hours Starburst.

Same thing for social gaming in combination with skill gaming. As long as there's something of skill in it, many people do not have the perception they're gambling. If there's a social competition, they're in some competition with their social media buddies or whatever.

[-Shay-]

It's gambling. It's popular because customers (or better said: players) do not have the perception they're gambling. It's also more interesting (and socially accepted) to tell at a dinner with colleagues, relatives or friends that you're doing forex some evenings of the week or binary options than that you're playing hours and hours Starburst.

Same thing for social gaming in combination with skill gaming. As long as there's something of skill in it, many people do not have the perception they're gambling. If there's a social competition, they're in some competition with their social media buddies or whatever.

It is OK for the CUSTOMER to chat with his mates as if it is not gambling. It is NOT alright for people from within the industry to imply that it is investing.

[universal4]

It is NOT alright for people from within the industry to imply that it is investing.

I agree and have taken that very unpopular stance from the beginning.

Many (not all) but many affiliates and most operators use those terms and encourage affiliates to do so.

I congratulate affiliates that try to build sites that do not do so, but I have not seen many that truly fully explain what is going on and allow "players" to keep their misconceptions about the deposits and trades.

If you want to invest, get a broker, or a discount broker and "invest" in real securities or even play the "pinkies" (penny stocks) Sure you can lose there too, but at least you actually OWN the securities. (even though sometimes toilet paper is worth more)

Rick
Universal4