In our reviews of scam and dishonest pages about binary options we come to a web site called Simple Trade on the Callputoptionsonline domain. In our opinion it is a very dangerous site.
Like many of the scam pages about binary options it pushes you to immediately open a binary options account and trade. They say that trading is very easy and that you can make a fortune within minutes. They even give you a trading method, and this is really the biggest problem of Simple Trade.
Why? Because if you follow their trading method, you will lose money very fast. Because what they basically say, is that you should sell when the price is rising and buy when the price is going down. It must be the worst advice we have ever seen about binary options and trading in general.
Because in trading you should do exactly the opposite, which means trading with the trend. We cannot help ourselves, but Simple Trade obviously wants you to lose your money, so they are probably earning commissions on that.
The same page is available in several languages, including English, French, Spanish, German and Russian. And they all give you the same bad advice about trading binary options. Furthermore they push you to open an account with ExBino.
We investigated about ExBino and we found that they are not regulated, which is the first reason why you should not trade with them. They provide a Gibraltar address, which means they are outside the EU territory, so you have very few guarantees.
Furthermore they say that the „Site is operated by: Exclusive Gaming Limited“. This probably means that they don’t operate as a binary options broker, but as a gaming and betting company. This is bad for two reasons.
The first being that they will never be regulated as strictly as companies that provide financial services, the second being that betting companies can change prices of binary options at their will. It is the same as when you are betting on a football match for example. The betting company makes an offer and you either accept the numbers and bet, or you don’t.
The problem is, when they apply the same principles on binary options trading. Because they can easily change the return ratios and prices. And be sure that they will do that, because betting companies only win if you lose, they are not proper trading companies. So in our opinion binary options traders should stay away from ExBino.