Israel’s huge binary options fraud(timesofisrael.com)
timesofisrael.com
Israel’s huge binary options fraud
http://www.timesofisrael.com/13-sickening-truths-about-israels-huge-binary-options-fraud/
http://www.timesofisrael.com/13-sickening-truths-about-israels-huge-binary-options-fraud/
Binary options "are based on a simple 'yes' or 'no' proposition: Will an underlying asset be above a certain price at a certain time?" Trades place wagers as to whether that will or will not happen. If a customer believes the price of a commodity or currency will be above a certain price at a set time, he buys the binary option. If he believes it will be below that price, he sells the option. The price of a binary is always under $100.
Every option settles at $100 or $0, $100 if the bet is correct, 0 if it is not