She warns others not to be so trusting file photo. The numbers on the screen could all have been part of an elaborate ruse to gull her into a false sense of security while her money was stolen. The Bay of Plenty nurse, who was too ashamed to use her real name, was encouraged to share her story by the Financial Markets Authority FMA , the government's financial services watchdog, for the start of World Investor Week.
The watchdog urged investors not to "invest" with off-shore, un-licensed providers of financial services, though it also warns against ordinary investors dabbling in high-risk binary options trading. Paul Gregory from the Financial Markets Authority warned people not to trust the slick online advertising of unregulated financial service providers. When Diana started trading binary options, she hadn't heard of the FMA, and didn't know there could be regulated, and unregulated financial service providers.
Once you send money overseas, domestic regulators like the Financial Markets Authority are unlikely to be able to get it back. Where that woman actually was, Diana remains uncertain. The bets were extremely short-term, for example, betting the pound would strengthen against the US dollar during the next two minutes.
Initially she was asked to put in a small amount of money until she had been walked through some successful trading, and then she was asked to invest more, and more. To this day she doesn't know if those successful trades were anything more than fiction.
The binary options trader provided all the charts, all the data. She was far too trusting, she said, but the situation gradually became more and more ludicrous, and even the trader on the other end of the line struggled to maintain the fiction that all he wanted to do was help her become rich. Now she realises that if these people had trading formulas that allowed them to routinely beat the market, they wouldn't be on the phone with her.
They'd be fantastically rich, and in all probability would be at home relaxing on their private Carribean islands. What happened next has proved to her that she was conned. Her name and number got on an International suckers lists, and other crooks have her details now.
I actually got two calls this morning. I might have to change my number now. These complaints centre on products like binary options and foreign exchange trading. Where an unlicensed, unregulated company based off-shore withholds money from an investor, it is very hard for the FMA to help. TSB drops 'Bank' and adds new logo in first rebrand in 28 years. Four Square shuts its doors. What happened to Nosh? Jackson's movie museum threat. Curries hinder home search. Car-free Trafalgar St hums.
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