Complaints Against Binary Options Brokers

Complaints Against Binary Options Brokers

As I have discussed in several previous articles, binary options are regulated. However, there are many companies and people who are not honest in this market and who take advantage of it to make money dishonestly. I often receive complaints against binary options brokers, and requests for help in recovering the money that a client can’t withdraw. These complaints are almost always against binary options brokers that are not regulated.

In order to try to help people who have complaints against binary options brokers, or against any other company related to binary options, I decided to write this article where one can expose their situation so that I can try to help. With these comments and responses we also hope to prevent other people from being deceived by the same companies.

Complaints against binary options brokers – What is it?

The idea is that people can leave in the comments a description of his situations in which they are in need of help in anything related to binary options brokers.

By leaving your complaints against binary options brokers in the comments you will help others who have the same problem. They can see how to get the help from someone else who has been through a similar situation and has managed to resolve it.

We will use the comments as if they are a help forum.

Complaints against binary options brokers – How to avoid them?

The simplest way to avoid having complaints against binary options brokers is to choose a good broker. As I have explained in several articles, it is essential to choose a regulated broker. Not only because they are more reliable, but also because being regulated (preferably in Europe) we have a way to complain to the regulators.

This is the simplest way to avoid problems: always work with regulated brokers.

Check if there are many negative reviews about the broker on the best-known sites and forums. If there are a lot of negative reviews, it is best to not choose this broker.

Check the offers (bonuses and others), if they seem too good to be true, it is because they are usually hiding something.

Complaints against binary options brokers – How can I help?

When you leave your complaint, I will try to find out if the broker in question is serious and whether it has had recent problems or complaints. I will try to help, letting you know where and how you can complain, and how you can place more pressure on the broker to resolve your problem.

Ideally we should try to resolve the situation directly with the broker. It is necessary to know what to say and how to pressure the broker to look at your problem and try to resolve it before there is an escalation of the situation.

Most brokers don’t like negative reviews, especially when the client has a case and can prove that it is the broker’s fault. This is a strategy that, if used well, usually has results.

I’ve helped people recover their money simply by knowing how to pressure the broker. It is easier if the broker is regulated because by knowing where to complain it is easy to apply pressure. In the case of an unregulated broker, the situation is more complicated, but not impossible.

Complaints against binary options brokers – Step 1

If you have a complaint, just leave your comment below explaining your problem. After reading it and investigating the problem, I will communicate directly in the comments to try to help in the resolution of your problem.

Don’t forget to include the name of the broker and explain the problem clearly and succinctly.

Rui Oliveira

Trader for more than 20 years and author of several blogs. After the success of my Binary Options training lessons, I decided to offer my services on a worldwide basis. That is how this blog was born. I hope you enjoy it and share it. Thank You.

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Rui OliveiraGary JacksonJames Harrowerbadi babrirSheldon Hughes Recent comment authors
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djfrigo
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djfrigo

Problem with withdrawal-binaring.com.
Hi, I have account with this broker, but probably it was huge mistake. They always forced me to put more money, but all withdrawal requests were cancelled. Their reason is “keep trading”. They are probably not regulated, so money are gone forever? Beware guys. They dont communicate, only if they want money. Will try to close my account and get the money back.

amandeep
Guest
amandeep

Broker: Binary Brokerz I wanted to try out the fully automated centument bot and received a phone call from Senior Account Manager Ben Gold. He asked a lot of personal questions and managed to dissuade me from using the bot .I was asked a lot of personal questions and i answered that i was facing redundancy . I was informed that if i was to invest £3.5k that they will top it up with a 100% bonus so i could achieve the £1-1.5k monthly income i was looking for . I was informed that i could take out my money… Read more »

Rui Oliveira
Guest

Binary Brokerz is a fraud. This broker has several complaints. They are not regulated, and since they are hide in a Offshore they allow themselves to do whatever they want. The lack of regulation it is an issue to try to recover your money. If you have deposit using credit card, you can ask for a CASHBACK. Tell you bank that is this a SCAM, say you have never authorized any deposits, you only give them the card in order to verify your account. If you didn’t use credit card, the only solution is to try to leave your complaint… Read more »

amandeep
Guest
amandeep

so there is no chance of recovering my deposits? I cannot ask for cashback because I was contacted by the bank and gave permission. I have also been informed that their terms and conditions do not cover my request for cash back

Rui Oliveira
Guest

In that case, my friend. They grab you by your b…
Try to make as much noise as you can in the sites I said.
I don’t see any other way.
This is why I only work with regulated brokers.

amandeep
Guest
amandeep

I have written on forex peace army who have been very helpful but the other website does not show any sympathy therefore I would not write in to them .They do not have any empathy for traders they forget it could be a case of no knowledge of their website and I have read so many traders losing thousands with banc de binary yet a lot of the watchdog sites promote banc de binary. I have read so many complaints regarding the regulated and unregulated it is a pity there is no law to protect the consumers. Would you recommend… Read more »

Rui Oliveira
Guest

I don’t know that service, but if you only pay if you receive money, and you don’t need to open any other account with no other broker, so then I would accept.

Give Voctor Fear
Guest
Give Voctor Fear

Hello I have a situation with OPTECK Broker I invest with them 25k in the beginning if 2016. I was not trade alone because he gave me platinium account with account manager who give me order of each trade. He started with me and he gaves me some winning signals when I reach 20k he convincing me to reinvest 10k. To get more options and secure account and a 100% bonus. I did it in a condition to withdraw this 10k when it enter my balance. After this withdraw he start give me a lost trade he made me lost… Read more »

Suzie M
Guest
Suzie M

I am having a problem with drawing my money from Porter Finance. I have
met all the requirements from the accounts department in terms of
verification. I have not taken a bonus. After trading for about 3
months i needed to withdraw my entire balance of usd 3,000. They paid
usd 900 but have gone silent on the balance of usd 2,100 which is profit. Its now 2 months of waiting.

Rui Oliveira
Guest

Hi,

Porter Finance is not regulated. So, that is a really big problem. Without regulation, a Broker can make almost what they want.
To be honest, I don’t think you will get your money back.
Try http://www.forexpeacearmy.com they have a service to get money back from scammers.
Next time get a better look and chose a regulated Broker.

Suzie M
Guest
Suzie M

Thank you. I will contact them and let you know how it goes

Josh Mellor
Guest
Josh Mellor

Hi, I tried to sign up with Copy Buffett a while ago and got synced with Secured Options and another time with OptionBit. I knew nothing then but am a lot wiser now. Luckily I only put minimum deposits. I’ve already gotten rid of Secured Options but I kept OptionBit because it reviews well despite only being regulated with Euro customers (I am in Australia) Once I realised Copy Buffett didn’t work I stopped using it and just left the money there for weeks while I did research and learnt to trade. I am part of a really great group… Read more »

Rui Oliveira
Guest

Hi,

I never use Neo2. Are you sure that is was not a bug with the Neo2 sytem? I know how it works the auto systems that work with the OptionBit. Once the sytem gets the approval to trade, he can trade without the person do anything.
If you are sure the problem was with the broker, talk with them and if they do not reply make a complaint with CySEC.
In my opinion, I wouldn’t bother with that value. I would prefer to put my head in make money elsewhere and recover this losses.

investor
Guest
investor

how would i know if my broker is regulated? the name of the broker is Frank Powers, he is calling me from a UK banc de binary number and convince me to deposit 5k$. He said he will send me for an education session after that we will start trading under his guidance. I would like to know if he is legit. I already have an account at Banc de binary and have already deposited the 5k$. He told me not to touch the money until he we start trading with his advice.

Please advise. thank you.

Rui Oliveira
Guest

Hi,

Any regulated broker is proud of being, so they always have that information in a visible spot of the website. They even inform the licence number so we can confirm. If that information does not exist, it is because he is not regulated.
If you are not sure, give me the link of the broker that I will investigate for you.

Mahendra
Guest
Mahendra

Hi I have invested total of 22300 pounds on http://www.53option.com first I invested 300 pounds then profit was going higher so I invested another 2000 and then I invested 5200 via card payments then the profit was 15000 then they showed that I had lost trade total of 15000 so I invested another bank transfer 15000 via bank transfer to recover the lost but now they asking for more to insure me on the trade and they are not allowing me to withdraw the money I can see on they site the money is 30000 in the account. But they… Read more »

Rui Oliveira
Guest

Hi,
Your Broker is not regulated, that can be a major problem, since you can’t make a complaint on the regulator.
If you deposit by Credit Card try to have your money back, by doing a CashBack.
There are other companies that offer services specialized in recovering money back from scam brokers like this one.
I Knnow that http://www.forexpeacearmy.com is one of those that provide this service. Get in touch with them.

badi babrir
Guest
badi babrir

YOU CAN RECOVER EVEN A 70% WITH AN ORTHODOX METHOD EMAIL BBABRIR@GMAIL.COM YOU MUST HAVE THE LOGIN DETAILS TO THE SAME ACCOUNT

Vaithieswaran RS Eswaran
Guest
Vaithieswaran RS Eswaran

I invest the amount 250$ to optionspro360.com and I earned huge. The site first time said my side bank is problem. but they did not response to me. now the site is locked how can I withdraw from my broker

Rui Oliveira
Guest

Hi, I am afraid that your company was just a scam. And they are gone with the clients money. If I would guess I would say they were not even a real Broker. My opinion is that you lost your money.
Try to see with ForexPeaceArmy about other complaints and if there are others, try to get together and to buy a service to recover your money.
It is very important to chose only regulated Brokers.

Janelle Gee
Guest
Janelle Gee

Hi, I have been trading with Wynn finance and up until last week had been doing ok. However my broker urged me to do 3 trades to end on 11/11 totaling $7 000 and 1 trade of $3 k ending 30/11 my account was only $10 k. I have now lost the $7k and looking like I will lose the remaining $3k. Is there any way to recover my money? Broker said he would call and we could rebuild, but have head nothing. Thanks for you help in advance.

Rui Oliveira
Guest

Hi,

That Broker is not regulated. The story you just told me is the kind of scam made by that kind of Brokers.
If you deposit with credit card, contact your bank and tell them you have been scammed.
Ask for a Cash Back.

Janelle Gee
Guest
Janelle Gee

Thank you, I will contact my bank this morning

Vusi
Guest
Vusi

Good day My name is Vusi from South Africa. I have invested 1800 USD with the https://www.53option.com/. They told me that I will get 60% profit on 9 December 2016 and that I will be able to withdraw the money. When I checked my account on 9 December 2016 I was shocked to see that it showed a Zero Balance. I send an email to the lady (broker) who was assisting me and she never responded to my emails. I checked the trading history on the account and now it shows that I have lost the 1800 USD. Please help… Read more »

Rui Oliveira
Guest

Hi,

As you probably know by now, that Broker 53Option it is indeed a scam. They are not regulated. Or you can hire a service to help you recover (not always they managed to do that) or you can try get it by yourself if you deposit in using a method that you have some protection,like credit card.
What was your deposit method?

Sheldon Hughes
Guest
Sheldon Hughes

Hi people my money was stollen by RBinary.uk london a promise that the orion code would put lots money in my pocket mmmm? Instead it has it has taken money out my pocket abroker who wanted more money all the time first it was250dollars then another 250dollars wait he was not done yet..he then requested another 250dollars that’s when I said no sorry no more .now I get no more emails the company or website can’t be found or traced 500dollars gone . ..in south african currency thats about R7000 Shame on u for riping people off I joined to… Read more »

Rui Oliveira
Guest

Hi,
That behavior is not correct. The broker is really scaming you.
The big problem is that they are not regulated.
So, you can’t reach them through a regulator.
You need to try another approach.
What deposit methods you used to deposit?

badi babrir
Guest
badi babrir

THE BEST WAY TO AVOID SCAM ON TRADING PLATFORM : NEVER ACCEPT ANY BONUS OFFER , NEVER DEPOSIT ABOUT $100 TRY WITHDRAWAL AFTER A DAY IF YOU SEE IT SUCCESSFUL CALL THE HELP LINE IS THE RESPONSE IS PROMPT THEN YOU CAN INCREASE YOUR TRADING VOLUME BUT NEVER ACCEPT AN OFFER OR A HELP TRADER FROM THE BROKER

James Harrower
Guest
James Harrower

I knew nothing about Binary Options but received messages on my Internet about Robots and as I have a busy schedule I thought that may be a good way to go and I was directed to Big Option where on 7th May 2016 I deposited 250 Euros. I was contacted by an Accounts Manager called Viktor Bogrov who told me that he had many certainties coming up Disney etc but I would have to put more money into the account. On 18th May 2016 I put in another 250 then on 31st May another 8000 then on 12th August 2016… Read more »

Rui Oliveira
Guest

I have never trade in BigOption, but from what I check, this broker is not regulated. When we deposit in non regulated Brokers like BigOption, it is very easy to get scammed.
From what I read on your comment, they prepared you from day one to stole you as much as they could.
If you deposit using credit card, try to make a cash back. Perhaps it is too late, but get in contact with your bank or credit card issuer, to do that.

James Harrower
Guest
James Harrower

Thanks Rui, I will contact my Bank and see what they can do. Thank you for your advice

J. Harrower

Rui Oliveira
Guest

You welcome.
Keep me posted, to see what can be done, and if you got any luck.

James Harrower
Guest
James Harrower

Rui,
I have never tried to do a cash back on a C redit Card, in this instance how much would I be asking to claim back, just the 2188 they owe me although that amount has not been shown on a Credit Card and what if any evidence do I need to give the Bank

Regards

J. Harrower.

Rui Oliveira
Guest

You must ask for all the amount you deposit.

Gary Jackson
Guest
Gary Jackson

Hi Rui, I started an account at 23Traders. I deposited £250 pounds which I know isn’t a great deal but almost straight after that I got called away with work. They have e-mailed me plenty of times since about getting started. I have been very busy backwards and forwards with work and read a few horror stories about them on the net. The last e-mail they sent me I replied that I was too busy with work to give it a go and would rather just withdraw my money. I haven’t heard from them since and have chased it up… Read more »

Rui Oliveira
Guest

Hi,
I have never heard about that 23traders, but is seems to me that they are scammers. They operate under another company called Decimol Ltd in Bulgaria, wich makes rather dificult to recover your money.
Or at least, more expensive, than the money you lost.
Depending the way you deposit there can be a way, since there are anti fraud systems that several banks and card issuers.
What deposit method you use, so I can see if you can go from there?

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