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How Singaporean investors lost so much money from unregulated binary options platforms?

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asked Apr 24 in Binary Options by Tom (2,040 points)

1 Answer

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answered Apr 24 by melisa (3,130 points)
selected Apr 24 by Tom
 
Best answer

Police said that investors are usually lured by their initial profits and by promises made by the platform staff about financial advice, more bonuses and attractive rewards. There are also psychological traps, as many of the investors found it difficult to stop at one small investment and will invest more money. In these cases, the investors either lost all their funds or could not withdraw the balances in their accounts. In addition, unauthorised withdrawals had been made in investors’ debit/credit cards after they had provided their card details for payment.

commented Apr 24 by Tom (2,040 points)
That's very dangerous. Thank you for your answer.

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