back to article Singapore reveals international talks on protection for retail crypto investors

The Monetary Authority of Singapore (MAS) has hinted the city-state may soon impose more regulations on cryptocurrency. The senior minister and minister in charge of MAS, Tharman Shanmugaratnam, responded affirmatively to a parliamentary question that asked whether the governing body intends to implement further restrictions …

  1. Anonymous Coward
    Anonymous Coward

    They're not investors, they are being sold worthless magic numbers, hoping to profit by selling said magic number to a bigger fool. You are failing in your job by allowing that scam.

  2. bbrissil

    Truth be told, I wish the corporate bodies tackling these issues should do better than just taking issues and playing around with it and getting it unresolved after complaints by several bodies about these scammers.

    One of the best things is to avoid being scammed but if you're a victim of any of these recent or online trading or cryptocurrency scams ranging from Forex Trading scam, Binary Option Scam, Cryptocurrency Scam or Theft…i’d advise you to look out before you get on another train that can lead you to being scammed.

    My friend uses so many brokerage websites and so I thought I would check them out to verify their usefulness and I found out common characteristics that signify all these binary options and cryptocurrency platforms are set up for dubious purposes .

    Some of their tools are setup for you to fail:

    -The default time is 1m.

    -There's only the most basic tools for trading, could probably count their aggregate total in two hands.

    -You can only use their inhouse web app which is lagging and ill suited for trading.

    -There's no way to download historical data,

    -There's no ability for you to code your own indicators or trading robots.

    Furthermore, their terms and conditions are beyond belief:

    -They have a severe conflict of interest with their customers as they always take the other side of the trade: this isn't disclosed sufficiently either.

    -There's some line in the order execution policy about explicitly consenting to trading on an unregulated market they create.

    -Got some more clues about most of these scam platforms’ operation from ALLBONATECH ORG, some sort of veteran scam-investigating and legitimate asset recovery firm that was very helpful to my reimbursement of losses.

    -Most of these binary options companies et al do not give profits. They close down your account or tell you to pay some more.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Other stories you might like