Options Rider –Is It A Ponzi Scheme?
Welcome to my Options Rider review! In a highly advanced internet era, where all processes are finished within moments and precise information retrieved from a database holding millions of entries within mere microseconds, some poorly managed or just intently fraud companies continue to think that technical disturbances are feasible excuses to back up suspicious, and most likely fraudulent operations. This is where Options Rider comes in.
Options Rider Overview
Options Rider, a Binary Options trading company, allegedly based out of Auckland, New Zealand, retorted to the same measures, which in effect may be sufficient for confusing the innocent customers, but lack potential against professionals.
A statement released by the company, following its unexpected announcement of a temporary restriction on all new registration and deposit services. Quoted below is the actual statement.
“Due to the surge of new clients, we are temporarily closing new registrations and deposits into the system effective immediately. We will resume new registrations on the 5th of May”
This was done in effect to allow the company sufficient time for catching up with all the new account registrations. It becomes difficult to imagine the difficulty in managing the new registrations, given that all processing is done by machines themselves, unless Options Rider is actually an old-school basic HTML website with no functional code or databases, which seems to all the unlikely.
Options Rider Scheme
To further strain the level of suspicion on the company, Options Rider has apparently also lied about its status as a legal, government-regulated establishment. A clause inside its Client Agreement page claims that the company is a registered and regulated entity in the New Zealand Securities and Exchange Commission. It is critical to note that such an organization named ‘Securities and Exchange Commission’ simply does not exist as a government managed body inside the territories of the Realm of New Zealand.
The government body that does fulfil the function of financial regulations the Financial Markets Authority (FMA). Quoted below is the actual text from Options Rider’s Customer Agreement Page.
“The Company is authorized and regulated by the New Zealand Securities and Exchange Commission to offer certain Investment and Ancillary Services and Activities under the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and Other Related Matters Law of 2007, Law 144(I)/2007, as subsequently amended or replaced from time to time (“the Law”), with FSP license number FSP10980”.
Options Rider Verdict
Given solid proof behind allegation that the company is indeed partaking in fraud, it is recommended to exercise extreme caution whenever dealing with Options Rider – just like any other business ventures that exist in the market today. There are plenty of great, authentic binary Options trade companies offering their services on the market. It might be worth investing at companies that are more authentic rather than poorly managed platforms who actually have to close their registration services following a ‘registration surge’.
In the past few months, the industry has become plagued with plenty of these fake and fraudulent schemes. Options Rider appears to be a straight ponzi scheme.
Andrew Murray is an online entrepreneur and business owner. I have helped thousands of students create their own websites and funnels and make a full-time income online. Reach out if you need help.
Text me at 617-340-2920
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