A family member of mine started "investing" in offshore binary options.
A binary option is essentially an all-or-nothing bet that a security will do something in a set amount of time. This is vastly different than a normal option, where the trader can purchase the right (but is not obligated) to buy or sell a security at a set price in the future.
The timeframe can be anywhere from 60 seconds to a year. If he wins, he gets a 75% return. If he loses, he gets a 100% loss.
Sounds like a great deal right?