I am a bit worried about writing a story like this about such large companies like bitmex.com and Plus500.com they have a lot to lose and a lot to protect however I feel compelled to write and hold them accountable.
I have been trading since 16 years old, over 15 years now and I have viewed these systems destroying people's lives with gambling high leverage margin trading, they are stealing people's money, operating and marketing themselves as investing vehicles, illegally, when really they are casinos, casinos being advertised on YouTube.
They are killing people and scamming them from their hard earned money, using systems they falsely advertise as a good system for investing, while it is not investing. When you open contracts with them you do not actually own the investment asset.
Normally when you Invest, you buy an asset with the goal of that assets value growing over time, with casino sites bitmex.com and Plus500.com advertising themselves as investment companies even though you are purchasing a contract with massive leverage, not owning the asset and with a high probability of losing all of your invested money.
Normally when you buy a stock or Bitcoin directly you hold that stock or btc through a legitimate broker or an exchange and it is your property however when you are leverage trading using bitmex or plus500 you are just opening a contract with their gambling system, you do not actually own the asset and they allow and market insanely high leverage with these contracts, sometimes x100 or x200 leverage, meaning if you invest $100 you can gambel with up to $20,000 positions.
Most users will then over trade with very high leverage, if the market moves against their position even a small percentage their entire position and investment can be lost.
I've seen people lose millions of dollars through these gambling and scamming leveraged systems, normally what happens when a person first starts margin trading they will make a gain or see potential gain and then naturally (bitmex.com and plus500.com count on) increase their leverage and contract sizes to replicate these gains on a larger scale, because they saw such a large potential gain with a small investment they normally then increase their leverage, if the market moves against them even the slightest way they lose their total increased investment.
What normally happens with these systems are people put in a small amount of money $100 - $1,000, or more and keep "betting" with higher leverage until their investment is lost.
What also happens is when short and/or long positions reach at or near ATH the unregulated market is manipulated.
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Do you have any proof of this @biggranpa?
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