It is again about SPOTFN, the binary options broker. It is taking advantage of being non-regulated and "tunes" its server/program in such a way that it is very difficult to win. As it cannot forge the forex numbers, when your trade is over it runs the so-called "verification" for several seconds that, as I figured out, is scanning prices from bid to ask during some time interval around your end-of-trade and takes the least advantageous for you number. As win vs. loose is determined at the level of 1/10 of a pip, it is pretty easy to find a number either higher than your strike price if you PUT or lower if you CALL because the spread between bid and ask is usually a few pips.
I have multiple proof of that with dates, time and currency pairs that I traded. Sometimes the server freezes when you are in the middle of the trade and in that case you sure loose. If the market moves against you after you entered a trade, the server shows that you may cancel it within 2-3 seconds by hitting the "CANCEL" button, but it does not and you loose again.
And the last but not least, it is virtually impossible to withdraw money from them - they just ignore your request. The customer service does not respond neither on the phone calls nor on email.
Could anything be done about this bunch of crooks?
SpotFN Reviews
It is again about SPOTFN, the binary options broker. It is taking advantage of being non-regulated and "tunes" its server/program in such a way that it is very difficult to win. As it cannot forge the forex numbers, when your trade is over it runs the so-called "verification" for several seconds that, as I figured out, is scanning prices from bid to ask during some time interval around your end-of-trade and takes the least advantageous for you number. As win vs. loose is determined at the level of 1/10 of a pip, it is pretty easy to find a number either higher than your strike price if you PUT or lower if you CALL because the spread between bid and ask is usually a few pips.
I have multiple proof of that with dates, time and currency pairs that I traded. Sometimes the server freezes when you are in the middle of the trade and in that case you sure loose. If the market moves against you after you entered a trade, the server shows that you may cancel it within 2-3 seconds by hitting the "CANCEL" button, but it does not and you loose again.
And the last but not least, it is virtually impossible to withdraw money from them - they just ignore your request. The customer service does not respond neither on the phone calls nor on email.
Could anything be done about this bunch of crooks?