World Binary Exchange

[mjim]

http://asic.gov.au/about-asic/media...and-other-unlicensed-binary-option-providers/

Both Binary Options provider and anybody giving "recommendations" to trade need to be under AFSL

 

[minwa]

Do you know ? MARK JAMES TENCATEN 7E5790088

I did some research and honestly apart from several forum posts of unrelated companies full of on the day profiles obviously from someone that does not like the person from some reason,
I cannot see any concrete evidence that this person did anything wrong!? Please correct me with facts on this if I'm wrong!

The extract from ASIC lists he is involved in WBE yet you deny his involvement in earlier posts. Pretty simple - look at the endless compnies he has been involved with in the finance industry. Not one lasts the duration a reputable business should. WBE will be no exception.

 

[mjim]

Hi, i got a call from this company for a 3 day trial free of charge.
I wander if anyone has used their services before?

ASIC has raised its concerns with more than 40 unlicensed providers. The majority are binary option issuers but also contacted were some binary option review websites, binary option trading signal providers

http://asic.gov.au/about-asic/media...n-unlicensed-retail-otc-derivative-providers/

Also
http://download.asic.gov.au/media/3893837/pwn-2016-3-published-9-6-2016.pdf

 

[greggles]

I have some further questions:

1. Why are World Binary Exchange's offices in Sydney, Hong Kong and London all well known virtual office locations?

2. Why is World Binary Exchange's principal place of business listed in their ASIC Company Extract as a residential address in Ashmore on the Gold Coast?

3. In the "About Us" page on the WBE website it states, "World Binary Exchange was founded by a group of leading Intra-day Index trading entrepreneurs and Intra-day binary Experts with a combined expertise in both online and offline trading." Who are these people, what are their qualifications and what previous experience do they have in the financial services industry?

4. On the World Binary Exchange website it is claimed that WBE's team of analysts achieve a 85-95% success rate on a weekly basis and clients will generate between 10% and 70% average return per month. Do you have audited results that confirm these results?

5. In the FAQ section of the World Binary Exchange website, under the heading "Is Binary Trading Safe?", it states "Binary Trading is short term trading with high return and low risk as you're trading on the market as a whole rather than individual stock or shares." On what basis can you claim that binary trading offers lower risk than trading individual stocks when the only possible outcome of a binary trade is a fixed amount return or a total 100% loss?

6. Finally, in the below advertisement for a Sales Manager it is claimed that World Binary Exchange is a UK based company and that your head office is in Bali. Yet the WBE website states that "World Binary Exchange Pty Ltd is Australian owned and registered". So, where exactly is World Binary Exchange based? Sydney, London, Hong Kong, Bali or the Gold Coast?



Thank you in advance for the answers to these questions.

 

[mjim]

I have some further questions:

1. Why are World Binary Exchange's offices in Sydney, Hong Kong and London all well known virtual office locations?

2. Why is World Binary Exchange's principal place of business listed in their ASIC Company Extract as a residential address in Ashmore on the Gold Coast?

3. In the "About Us" page on the WBE website it states, "World Binary Exchange was founded by a group of leading Intra-day Index trading entrepreneurs and Intra-day binary Experts with a combined expertise in both online and offline trading." Who are these people, what are their qualifications and what previous experience do they have in the financial services industry?

4. On the World Binary Exchange website it is claimed that WBE's team of analysts achieve a 85-95% success rate on a weekly basis and clients will generate between 10% and 70% average return per month. Do you have audited results that confirm these results?

5. In the FAQ section of the World Binary Exchange website, under the heading "Is Binary Trading Safe?", it states "Binary Trading is short term trading with high return and low risk as you're trading on the market as a whole rather than individual stock or shares." On what basis can you claim that binary trading offers lower risk than trading individual stocks when the only possible outcome of a binary trade is a fixed amount return or a total 100% loss?

6. Finally, in the below advertisement for a Sales Manager it is claimed that World Binary Exchange is a UK based company and that your head office is in Bali. Yet the WBE website states that "World Binary Exchange Pty Ltd is Australian owned and registered". So, where exactly is World Binary Exchange based? Sydney, London, Hong Kong, Bali or the Gold Coast?



Thank you in advance for the answers to these questions.

Good points
Specially this explanation by these compoanies is not 100% correct "Binary Trading is short term trading with high return and low risk as you're trading on the market as a whole rather than individual stock or shares.""
If the underlying is a Index then yes correct you are trading on the "Overall market" with no stock specific effect however it is still risky as any other trading, only thing is Known limited max loss
If the Binary is on an individual stock then the individual company risk certainly come sin to picture

 

[WBE Services]

mjim:So you re like those Horse racing Prediction software companies doing the rounds few years ago!
with glossy brochures then com all the "Covered call sellers " then the "Forex educators" now it is Binary! WOW indeed

Yes we are, if that's a way to make you understand that we do not provide financial services.

mjim:Continue to resist a plain and simple and legit request to prove your results by independent qualified auditor

We are not resisting anything!
The result we publicize out of our own will can be followed and with a little time from your side, you can analyze the results.
Providers where you can buy the data in order to analyze results dating back to several years.
https://www.tickdata.com/
https://www.onetick.com/
http://www.tickdatamarket.com/

mjim:If you openly say Client money safety does not matter and we should trust these tin pot country brokers!

wbe services: Although there are many brokers on the market to trade binaries I would have to say that 80% of them fall under the umbrella of 4 main trading platform providers that retail their product for an affiliate fee and share of profits and these are mostly publicly traded companies. Most of them are regulated just like any other big companies, in places that favor their bottom line therefore in places where taxation is pretty low or they can strike good tax deals. Therefore, it's pretty irrelevant where these brokers "or better the companies that provide the services to them" are regulated because smaller countries will often adjust their rules and regulations to these market makers in order to cash in on a share of their business revenue.

My response was targeted towards the big companies no need to turn around words.
ig.com - uk or other depending on location
24options(dot)com - Cyprus
binary.com - Malta / isle of Man
iqoption.com - Seychelles

That you don't trust a company that provides services outside of Australia is your personal opinion witch is respected!
I do play online poker myself at PokerS... and i don't mind they are regulated in a thin pot country

Both Binary Options provider and anybody giving "recommendations" to trade need to be under AFSL

binary.com: In regards to binary options which are gambling products, remember that gambling can be addictive - please play responsibly.

We do not recommend anything we provide signals on bets!

minwa: The extract from ASIC lists he is involved in WBE yet you deny his involvement in earlier posts.
Pretty simple - look at the endless compnies he has been involved with in the finance industry.
Not one lasts the duration a reputable business should. WBE will be no exception.

You keep saying I deny any involvement of MARK JAMES TENCATEN 7E5790088??
Put your reading glasses on and read all answers again!


Next we have the ASIC articles, posted above.
There it mentions providers / brokers that are not registered with ASIC.

but also contacted were some binary option review websites, binary option trading signal providers

You see us on the list no because WE ARE NOT BROKERS but we are fully registered company complying to the law in respect of the services we offer.

now to greggles:

1. Why are World Binary Exchange's offices in Sydney, Hong Kong and London all well known virtual office locations?

http://www.industry.nsw.gov.au/inve...rastructure/Comparison-of-global-office-costs
London (West End), United Kingdom 2,984
Hong Kong (Central) 2,604
Beijing CBD, China 2,013 0.0
Moscow, Russian Federation 1,777
London (City), United Kingdom 1,654
New Delhi (Connaught Place - CBD), India 1,653
Tokyo (Marunouchi Otemachi), Japan 1,569
Paris, France 1,338
New York (Midtown Manhattan), United States 1,299
Shanghai (Pudong), China 1,266
Rio de Janeiro, Brazil 1,187
San Francisco (Downtown), United States 1,163
Mumbai (Bandra Kurla Complex), India 1,147
Sydney, Australia 1,144
Total occupancy cost
(US$/annum/sq. m.)

As you can see it is not cheap to rent a fully blown office in any of those locations.
Therefore, the company opted to use those offices which provide us with all the facilities our company need to provide an excellent customer service that we could otherwise not provide.

2. Why is World Binary Exchange's principal place of business listed in their ASIC Company Extract as a residential address in Ashmore on the Gold Coast?

No the registered address as for the ASIC extract is:
'Australia Square' Level 33, 264 George Street, SYDNEY NSW 2001
Start date: 22/10/2014
Just like you mentioned yourselves! A little contradicting in your own questions are you trying to be deceiving here?
Compared to real trading a binary options bet limits your losses to the amount you put in where are if you were to trade on real markets and leverage your position you would stand to have much higher rewards but also much higher risks.
So in money terms on a binary bet if you bet 100$ you stand to lose a maximum of 100$.
In the real finance market, a 100$ leveraged to 1/5 I don't know the rates as I do not trade but that means you put 100$ in and stand to win $500 or lose $500 which is $400 more per trade you made.
With greater risks come greater rewards, therefore yes binary options are safer than real financial markets.
And to the last question.
Yes, World Binary Exchange is a global company which therefore is registered by law in the countries where it has operations.
Sydney, London, Hong Kong, Indonesia

Thank you greggles for some decent questions not this silly word play of others.

 

[cynic]

...
Just like you mentioned yourselves! A little contradicting in your own questions are you trying to be deceiving here?
Compared to real trading a binary options bet limits your losses to the amount you put in where are if you were to trade on real markets and leverage your position you would stand to have much higher rewards but also much higher risks.
So in money terms on a binary bet if you bet 100$ you stand to lose a maximum of 100$.
In the real finance market, a 100$ leveraged to 1/5 I don't know the rates as I do not trade but that means you put 100$ in and stand to win $500 or lose $500 which is $400 more per trade you made.
With greater risks come greater rewards, therefore yes binary options are safer than real financial markets.
...
Thank you greggles for some decent questions not this silly word play of others.

Hmmm. You don't understand risk, reward and financial markets at all well, do you?

The maximum potential loss of any long option (whether binary or ETO) will almost invariably be 100%.

In the case of binary options, the gains are limited from the outset, whereas, in the case of ETOs, the gains are often unlimited!

So contrary to your claims, there is clearly greater potential reward offered, in return for limited risk, by ETO derivative products.

And let's not forget that ETOs (unlike binary options) are Exchange Traded Options, and as such, risk of counterparty default is mitigated by a financially regulated exchange.

 

[greggles]

No the registered address as for the ASIC extract is:
'Australia Square' Level 33, 264 George Street, SYDNEY NSW 2001
Start date: 22/10/2014

Then what business is being conducted at 17 Yangoora Crescent in Ashmore on the Gold Coast?

 

[WBE Services]

Hmmm. You don't understand risk, reward and financial markets at all well, do you?

The maximum potential loss of any long option (whether binary or ETO) will almost invariably be 100%.

In the case of binary options, the gains are limited from the outset, whereas, in the case of ETOs, the gains are often unlimited!

So contrary to your claims, there is clearly greater potential reward offered, in return for limited risk, by ETO derivative products.

And let's not forget that ETOs (unlike binary options) are Exchange Traded Options, and as such, risk of counterparty default is mitigated by a financially regulated exchange.

Well you got me there! As you can see my knowledge of financial markets is limited as we deal with betting where your odd are fixed.
What i do know from friends that are licensed traders in Hong Kong, that if he takes a position and actually owning the underlying asset he can do that on margins, so because of the margins if things go well he stands to make great returns if things go bad he stand to loose a lot more than he originally put in if he does not sell within his margin. So for me knowing the exact amounts that i can win or loose makes all the difference in the world, but that's my personal opinion and I'm sure all real licensed traders here in this forum may see it differently and can argument the whole trading thing better than me.

 

[cynic]

Well you got me there! As you can see my knowledge of financial markets is limited as we deal with betting where your odd are fixed.
What i do know from friends that are licensed traders in Hong Kong, that if he takes a position and actually owning the underlying asset he can do that on margins, so because of the margins if things go well he stands to make great returns if things go bad he stand to loose a lot more than he originally put in if he does not sell within his margin. So for me knowing the exact amounts that i can win or loose makes all the difference in the world, but that's my personal opinion and I'm sure all real licensed traders here in this forum may see it differently and can argument the whole trading thing better than me.

Having traded financial derivatives for some years now, I am well aware of how margin works!

Anyone trading with margin should ideally know the full liability of any long position prior to opening it!

To clarify the point, imagine if your company allowed its clients to enter binary options contracts on margin, with a deposit, as commensurately small as that required by the brokers and/or exchanges used by your futures trading friend/s!

Binary options are not looking at all good now, are they?

Leverage only changes the magnitude of one's exposure. The risk/reward relationship is otherwise unchanged!

Having friends doesn't entitle one to make inappropriate (and misleading comparisons) between financial/gaming derivative products!

 

[mjim]

This thread is becoming a big joke WBE has not answered the critical questions. and making completely invalid comparison about ETO and thinly regulated OTC Binary and other "strange" comments

You admit "As you can see my knowledge of financial markets is limited " and you are trying to sell a signal service for financial trading! LOL

Further comments like these make me wonder what you know"What i do know from friends that are licensed traders in Hong Kong.."

What is Licensed trader? there are Licensed brokers and Licensed CTA , Licensed financial advisers etc
What on earth is "Licensed Trader"

One last time
- How exactly are you exempt from AFSL?
- Where is audited proof of your performance? even if it is paper trading
- Since your company owners are all experienced in trading and claim 70+ success rate how come they don;trade! (perhaps easier to get gullible people to part with 12K)

Mate don't dig a bigger hole for yourself here if you are honest business person answer those 3 questions, and no. earlier evasive answers does not add to any creditability

 

[minwa]

This thread is becoming a big joke

Lol it was a massive joke when they made 3 or 4 accounts and pretend to be customers, caught red handed with same IP and pretend like nothing happened while ignoring all the questions.

 

[Wharris]

It's quite sad really, each to their own of course, but paying 12k for signals? For 6 trades per week doing $100 trades lol.

Using my own analysis and doing 3 $250 binary trades I can make $600. I've done it. However you lose 1 trade and your draw down skyrockets, and to say margin and leverage is the devil, yet I can risk $10 to make $100 and not worry about being squeezed out by a micro pip! Sure it may take me 4 hours but at least my PATIENCE pays off.

And if all these people are making such bank the binary options brokers will probably go bust lol.


As a caveat; as stated in the beginning each to their own, and the above text is my opinion alone.

 

[WBE Services]

You admit "As you can see my knowledge of financial markets is limited " and you are trying to sell a signal service for financial trading! LOL

We not here to sell anything! We here to answer to questions, this is not some kind of marketing gimmick! We know better than that!

What on earth is "Licensed Trader"

Well you got me on that i did mean the person has a broker license

How exactly are you exempt from AFSL?

read the reply on to know what our business is all about 24th-August-2016 12:21 PM

Where is audited proof of your performance? even if it is paper trading

For the 10th time grab the published results look at the charts and keep a track of it and make your analysis.

No one is trying to evade anything here. Is you that a trying to make some sort of point which is still to be discovered.

And about the

Mate

thing i don't even know you and you don't know us so please stop assuming we do something that is not honest, since we comply to the full extent of the law and regulations.

Hi Wharris,
Thank you for you opinion, may i remind you that our packages are over several years and the trades x week are on average, we usually send out signals from Monday to Friday.

 

[Porper]

We not here to sell anything! .

I am glad you cleared that up

 

[WBE Services]

Do you need an AFS licence?

If you want to run a financial services business, you generally need to be authorised under an AFS licence.

An AFS licence authorises you and your representatives to provide financial services to clients.

You provide financial services if you:

provide financial product advice to clients for example, giving a recommendation to clients or the general public about which financial product they should purchase.
deal in a financial product for example, buying or selling shares on behalf of a client or issuing interests in a managed investment scheme.
make a market for a financial product for example, where you regularly quote prices at which people can buy or sell financial products.
operate a registered managed investment scheme. ASIC is also required to register managed investment schemes that are offered to retail clients.
provide a custodial or depository service for example, holding a financial product, or a beneficial interest in a financial product on trust for a client or
provide traditional trustee company services for example, preparing estate management functions.

Financial products include things such as shares, bonds, superannuation, interests in managed investment schemes, life insurance, general insurance, derivatives and margin lending facilities.

http://asic.gov.au/for-finance-professionals/afs-licensees/do-you-need-an-afs-licence/

mjim there is plenty more for you to read trough there.

 

[Craton]

http://asic.gov.au/for-finance-professionals/afs-licensees/do-you-need-an-afs-licence/

mjim there is plenty more for you to read trough there.

From ASIC: http://asic.gov.au/regulatory-resources/financial-services/giving-financial-product-advice/

Financial product advice and dealing

To determine your obligations under the licensing provisions you first need to consider whether you provide a ‘financial service’.

You provide a financial service if (among other things) you:

‘provide financial product advice’; or
‘deal in a financial product’.

Arranging for a person to engage in certain conduct, such as applying for or acquiring a financial product, will constitute dealing unless it amounts to providing financial product advice or is exempt.

If you provide a financial service you need to consider whether you must hold an Australian financial services (AFS) licence or hold an authorisation from a licensee.

The way I see it, WBE is providing advice as a service, not different to buy, sell or hold recommendations. How is providing Alerts or Signals any different?

It is advice surely and thus, the requirement for a ASF license and giving us, the consumer, some form of protection.

The WBE website is very light (no I don't want to contact you to find out more!) on information and that is a very big WARNING alert/signal to me.

 

[mjim]

From ASIC: http://asic.gov.au/regulatory-resources/financial-services/giving-financial-product-advice/



The way I see it, WBE is providing advice as a service, not different to buy, sell or hold recommendations. How is providing Alerts or Signals any different?

It is advice surely and thus, the requirement for a ASF license and giving us, the consumer, some form of protection.

The WBE website is very light (no I don't want to contact you to find out more!) on information and that is a very big WARNING alert/signal to me.

"The way I see it, WBE is providing advice as a service, not different to buy, sell or hold recommendations. How is providing Alerts or Signals any different?"
Could not agree more + Binary options is a "Financial Product"
Whom is WBE kidding! When ASIC knocks on the door they will realize!

 

[mjim]

We not here to sell anything! We here to answer to questions, this is not some kind of marketing gimmick! We know better than that!
oH YES CORRECT YOU ARE NOT SELLING ANYTHING HERE MY BAD

Well you got me on that i did mean the person has a broker license

h...m somebody who is pushing / promoting such serious service should know the basics
read the reply on to know what our business is all about 24th-August-2016 12:21 PM

For the 10th time grab the published results look at the charts and keep a track of it and make your analysis.

Listen a Audiated proof means audiated by a competent professional like an accountant who would be willing to put his her name to it AND NOT SOME SOCIAL MEDIA POSTING

No one is trying to evade anything here. Is you that a trying to make some sort of point which is still to be discovered.
Yes you are about AFSL and about audited results

And about the thing i don't even know you and you don't know us so please stop assuming we do something that is not honest, since we comply to the full extent of the law and regulations.

How do you comply? as many pointed out directly and indicrectly you ARE selling financial trading advice ( call it whatever you might) WITHOUT AFSL
Hi Wharris,
Thank you for you opinion, may i remind you that our packages are over several years and the trades x week are on average, we usually send out signals from Monday to Friday.

By the way do you know Binary options are offered by "Market maker" broker model there is no direct underlying true exchange meaning long term If your clients keeps winning the broker is not going to like it! just like a bookie , I bet you don;t tell your clients this fact do you?

 

[greggles]

A timely warning from Scamwatch: https://www.scamwatch.gov.au/news/dont-be-lured-into-binary-options-scams