How to attract people to binary options. Four Ways to Shift Your Marketing Strategy from Binary to Forex
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Print shares A view of Ramat Gan's diamond district, where many binary options firms were located, on April 3. It is estimated that many hundreds of thousands of customers around the world have been defrauded in similar ways over the past several years, all with the seemingly tacit consent of Israeli regulatory and law-enforcement authorities — the ongoing tacit consent of the Israeli authorities. The company Joshua worked for continues to defraud people daily from its offices in Ramat Gan.
How did you get involved in binary options? My job at the time was ending and I was frantically looking for something else.
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My wife was pregnant. I had to get some kind of job. Once I sent my CV to online trading companies, I got calls from one binary options company after another.
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I chose one. Who were your customers? Mostly Indians and Nigerians. You were lucky if you got a European customer, especially a German. They were the most eager to trade, and they deposited money in euros or pounds rather than dollars, which was better for us. I remember we had trouble with one Iranian guy. How much money did people give you? Some people in places like India and Nigeria borrowed money from how to attract people to binary options and friends.
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Some of them are desperate. Not everyone deposits.
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You spend minutes on the phone with each person and after 20 or 30 people, one will deposit. I could call people a day.
My mouth was tired afterwards.
The retention agents could get more money from clients who had already made their initial deposit, and were now on board.
I remember one client in particular, a guy from Pakistan. He was about to get married and he borrowed money to invest so he could have a nice wedding.
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We spoke on Skype, he gave me his credit card information and it went through. Two or three days later he had lost all his money trading.
Can You Be A Millionaire In Binary Options or Forex?
I was told to block him on Skype. A view of Ramat Gan. Shutterstock image. How did you find leads?
The marketing campaigns were really good, really persuasive. He promised that if you lost on your first ten trades he would refund your money. We also had very good search engine optimization. We had been briefed on all new campaigns, so we would basically repeat the same message. What did you tell customers to get them to deposit money? We told them anything. We geared them up, we developed a real relationship with them. What happened after a client made a deposit? After the initial deposit the client was sent to the retention team.
What is a Binary Option and How Do You Make Money?
If a trade is successful, clients earn between 60 and 80 percent of the amount they put on the trade. People gradually lose all their money. But the managers also keep track of the success of every account. Then we come up with some excuse.
We say in our terms and conditions that the rates at the end of the trade may not actually be the rate at time trade closed, that there is delayed reporting.
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- Let us take them one after the other.
Other ex-employees of binary options companies have detailed other ruses to The Times of Israel. How did you get customers to keep putting money in? Some agents are good judges of character.
We also look at their houses on Google maps to assess how much money they have and how far we can push them.
A large percentage of people take the bonus. Eventually people get tapped out, though, and want to leave. We never kept the customers for very long. If they had accepted a bonus, that meant they agreed to do a certain amount of trades, so we said sorry. The client would start swearing and we would hang up the phone and never take their calls again.
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Did any customers withdraw money? I never saw a single scenario where someone how to attract people to binary options their money. I remember one time we received too many credit card chargebacks.
I guess customers were realizing this is a scam and reversing the charges. The managers were freaking out.
They gave us lists of idle accounts, and told us to clean them out. What made you decide to quit? I started to look for a new job about two weeks into it.
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My wife would see how shaken I was when I came home. I felt awful about myself. They have huge employee turnover. Some of the managers make phone calls themselves. Did you get a payslip? No, I never did. They deposited my salary directly into my bank account.
How many people do you think work in the industry in Israel? I actually remember some people from abroad with British accents came to our office to learn how to set this up elsewhere. So our managers were explaining, you have to have Internet how to attract people to binary options this speed, and this is how you train the agents.
Apparently this is an export industry and Israel is exporting its expertise in binary options. Did you tell anyone about your experience after you left?
I had a wife and a baby and I worried about getting sued if I said anything publicly about the company. But I was hoping that [it would come to light] and then I would try to explain what happened to me.
“Binary options” put buyers in a bind | FTC Consumer Information
Did you go to the police? I remember my wife and I were being interviewed to live in a religious community. I had already rights of the parties to transactions with options the company but the rabbi asked me about it.