I don't think I am the first one who is stating this but spot is claiming to own 70 percent of the binary options market with over 300 brands. Maybe now this number is down to just 200. Most scam brokers that have been fined like Banc De Binary, Cherry Trade, Goptions, 12Trade (the one where the guy killed himself because the spot option broker stole his money to the tune of 300k?) are spot option platforms. There is little coincidence.
My friend Nir who worked at Cherry Trade as an account manager before they were hacked badly 2 years ago told me they had a bell in their office which would ring automatically each time an account manager landed a deposit of over 20k. They joked internally how the deposit bonus would lock the client in and it was basically profits for the broker. It was also common knowledge that brands like Cherry Trade are paying spot option to use their platform but spot is making its big money from the profit share they have to. The figure I know from very reliable sources is 10 to 20% profit share on the loss of traders. So it is not correct to say that Spot Option is just a software provider!!
Here are some true things that I have verified and one can even find them on Spot Option's own Wikipedia site.
Spot Option;s origins are not clear whether Oren Shabat the known con man who created the Banc de Binary scam is behind spot or the money launderer Pini Peter who was convicted of fraud in 2006.
Oren was trying to scam Wikipedia in making sure the truth about Spot Option does not emerge. My friend Nir who was working as account manager also told me that according to his friend Adi who worked as a business development rep in Spot Option Israel around the time of TraderXp times was very close working with Semi Vahap. He is the man behind Banc de Binary the biggest profit maker for Spot Option and probably the biggest scam to ever hit binary options.
For those scammed by a spot broker please write here it is important that the truth is getting out. I was reading recently that a MAN LOST HIS LIFE AND KILLED HIMSELF
because of a spot option broker. This is too much now.