‘Obama Binary Options’ – Multi-million-dollar fraud? (Report #7)

Media Revolution twitter

YTF Trade Limited binary options fraud scam

YTF Trade Limited (i.e., Obama Binary Options) runs several fraudulent binary option scam websites. Yesterday we discussed, GlobalTrader365.

Another example is:  OptionsArea.com

OptionsArea has been operational since at least March 2014.  At some point in March 2014 their ‘brokers’ (i.e., anyone in the boiler room who can speak English) stopped contacting new customers from the United States.

GlobalTrader365 also stopped contacting new customers from the United States at some point in March 2014.

Here is how it works:

Customers sign up on their own after stumbling upon one of scam websites operated by YTF Trade Limited, e.g., OptionsArea and GlobalTrader365.  There is no ‘cold calling’ in YTF’s boiler room.

Soon after a new customer signs up for an account (free) with one of the scam websites the customer’s information, including telephone number and name, appears on one or more of the computer monitors in the YTF boiler room.

Employees (who earn approximately $2.50 US Dollars hr, plus commissions. View the manual here) in the boiler room call the new customers and try to convince the customers into depositing money into their trading account (or more money if they’ve already made a CC deposit on their own).

Employees also call existing customers and press them for more trading and more deposits.

Employees are not brokers and have absolutely and categorically no experience as traders.

However, on the phone the employees indicate that they are brokers and professional traders and that they are located in New York on Wall Street.  An example of a typically recommended trade is the Dollar vs Euro with an expiration time of just a few minutes. Typical bet: $2000 to $5000 US Dollars.

Employees are ill-mannered, loud, vehement, demanding, arrogant and have the gift of gab.  Without planning or rehearsal they will create fictional-facts, statistics and anecdotes. Really and truly employees will say whatever it will take to convince a customer to make a deposit (or additional deposits).

Once a deposit is made, by credit card (CC) or bank wire, it is exceedingly difficult and often impossible for the customer to withdraw funds from their trading account (even if their trades are successful).  Withdraws will be canceled by YTF or will appear, on their websites, to be complete even though no money was transferred to the customer’s account.

OptionsArea has customers from around the globe.  Many of the said customers are from Europe and Africa.   Regardless of the customer’s physical location they tend to speak English.  If not, there are few french and Italian speaking employees at the Obama Binary Options (YTF Trade Limited) boiler room in the Dominican Republic..  The first language of most of the boiler room employees is Spanish and their second language is usually English.  I’m not sure if they are allowed to speak Spanish on the phone.  In any event, calls to customers who don’t speak any of the languages listed above are ended after it is ascertained that they speak some other language (although they will probably be called back several more times to confirm).   If the customer didn’t speak or read English, they wouldn’t have been able to signup at a YTF operated binary option websites because the language is always in English.

It is important to keep in mind that OptionsArea and GlobalTrader365 exist only electronically as websites.  They are not real companies.  These websites were created by programmers in a YTF boiler room in the Dominican Republic.

The only company which exists is YTF Trade Limited which is hidden behind Obama Binary Options which itself is hidden behind Revolution Media or Media Revolution.

The owners of YTF Trade Limited are from Israel.   YTF Trade Limited is licensed in Cyprus.   YTF operates in the Dominican Republic.

Licensing a binary options brokerage or firm is Cyprus is, in a way, the US-equivalent of having a Delaware business address.

Please stay tuned for several additional reports regarding Obama Binary Options and YTF Trade Limited.

Please exercise your free speech in the comments section below. There are no stipulations of political correctness on this blog. Speak your mind, give us your thoughts, both objective and subjective. Share your ideas, hunches, inklings or your expertise. Please provide recommendation and corrections if you spot errors in fact within the blog report. Lastly, remember that posting a comment is much like casting a vote, so please do so.

About Lucas Daniel Smith

“The counts of the indictment are luxury, bad manners, contempt for authority, disrespect to elders, and a love for chatter in place of exercise…Children began to be the tyrants, not the slaves, of their households. They no longer rose from their seats when an elder entered the room; they contradicted their parents, chattered before company, gobbled up the dainties at table, and committed various offences against Hellenic tastes, such as crossing their legs. They tyrannised over the paidagogoi and schoolmasters.” – Kenneth John Freeman (from his Cambridge dissertation published in 1907)

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6 Responses to ‘Obama Binary Options’ – Multi-million-dollar fraud? (Report #7)

  1. Bruce says:

    I need to remind our readers that EVEN REGULATED, LEGITIMATE BINARY OPTION TRADING SITES (not to be confused with SCAM SITES such as the YTF controlled sites, ‘Options Area’ and ‘Global Trader 365’) typically and understandably have a mathematical-probability PROFIT EDGE over the players. That is, long term, you will probably end up losing money playing their game!

    IMO, binary options trading can justifiably be considered simple GAMBLING, not all that different from playing ‘red’ or ‘black’ on a Roulette Wheel in a Las Vegas casino, but with slightly worse odds of making any money! I am not necessarily against binary options trading (gambling can be fun and exciting, not unlike paying money to ride a roller coaster), at least in THEORY, but one does need to view the situation realistically.

    Some quotes from the Wikipedia article linked below:

    https://en.wikipedia.org/wiki/Binary_option

    Business Model:
    …….
    In order for a trader to make a long term profit he has to predict correctly roughly 54.5% of the time (depending on in-the-money and out-of-the money payouts).

    Criticism:
    These platforms may be considered by some as gaming platforms rather than investment platforms because of their negative cumulative payout (they have an edge over the investor) and because they require little or no knowledge of the stock market to trade. According to Gordon Pape, writing in Forbes:

    “[…] this sort of thing can quickly become addictive […] no one, no matter how knowledgeable, can consistently predict what a stock or commodity will do within a short time frame.” – (bold emphasis added)

    ——————————————————-

    Addendum: Added 8/9/2014
    See also: “Why You Should Not Trade Binary Options” by Denise Brown

    http://www.amazon.com/Why-Should-Trade-Binary-Options-ebook/dp/B00ID5K7WK/

  2. Bruce says:

    Below is a link to the ‘Twitter Home Page’? for ‘Media Revolution’

    https://twitter.com/MediaRevRD

  3. Bruce says:

    The only company which exists is YTF Trade Limited which is hidden behind Obama Binary Options which itself is hidden behind Revolution Media or Media Revolution.

    The owners of YTF Trade Limited are from Israel. YTF Trade Limited is licensed in Cyprus. YTF operates in the Dominican Republic.

    The company structure is all very complex, which is intentional of course, but it appears to me that the largely hidden company, ‘Obama Binary Options’ legally contains the highest level of ‘management’ actually residing there in the Dominican Republic???

  4. Bruce wrote:

    The company structure is all very complex, which is intentional of course, but it appears to me that the largely hidden company, ‘Obama Binary Options’ legally contains the highest level of ‘management’ actually residing there in the Dominican Republic???

    In a way, yes. However, we also have to keep in mind that Media Revolution (or Revolution Media) and Obama Binary Options do not really exist. They are just names to camouflage YTF Trade Limited from the public.

    PS- I’ve updated the report a little with strikethrough text (deletion) and bold red text  (text added after publication).

  5. Bruce wrote:

    Below is a link to the ‘Twitter Home Page’? for ‘Media Revolution’

    https://twitter.com/MediaRevRD

    Yes, it appears that in June 2014 they began advertising on Twitter and Facebook (https://www.facebook.com/pages/Media-Revolution/910609822298667).

    Prior to that point I believe that hiring or recruiting was done by word of mouth and employee referral.

  6. Pingback: ‘Obama Binary Options’ – Multi-million-dollar fraud? (Report #9) | Lucas Daniel Smith's Blog

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