This page is a list of brokers and complaints I’ve received about them. If you have a complaint regarding a binary options broker, please leave a detailed comment at the bottom of this page. Please check out these guidelines on how to deal with binary options brokers.
For help with getting your money back, please consult with Watchdog’s Refund and Chargeback Guide.
I signed up with Binary Banc. They use the same platform as many of the brokers. Funded with $2000 and got an unsolicited bonus of $600. Was promised that I would be given a broker to help me get up to speed and help grow my funds. We grew the account to over $10,000. I was pressured from the beginning to put in at least $50,000. I told them as I do not know them, they are UK based, HQ in Georgia (not exactly a place known for ethical business practices)that I want to build trust in this company first. I was prepared to deposit more funds but banking details is a bank in HK with different name. I decided to try to do a withdrawal. After weeks still no response to withdraw funds, abusive calls from ‘broker’ assigned, refuse to put anything in writing, wants to ‘talk’ about it.. so as far as I am concerned I have been scammed. Every caller gives me a different story why I cannot withdraw my funds so either the ‘profits’ generated was not real and they used ‘teaser trades’ to get me to fund more or they are just thieves and scammers. (July 2016)
With binary book I got the bonus. The software made a few trades, a few wins and a loss. In the advertising it was mentioned there can never be a loss cause the software quits a losing trade before it gets lost. So I stopped the software and wanted to withdraw only an amount in the high of my deposited amount but they rejected. They informed me that I have to make the bonus turnover of 35x times the bonus amount, even before it was mentioned that I can withdraw any amount at any time. So I decided to trade the account and had to discover that they only offer 2 currency pairs in binary options and the minimum trading amount is € 50. While trading I wanted to put the expiry at 10:15 a.m. but the only options I got were 10:00 am, end of day, end of week… so I lost these trades too … ^^ After this I did not trade anymore with them and my money is still locked in there. (November 2016)
I deposited that $500 in the account, to my surprise the first trade I took was a lost. I decided to stop using the software and continue the trading manually. After one week of trading my account add up to $900+ trading on my own without the software. All of a sudden I lost $400 in one day due to their manipulation of SR. And my balance remains $540. I decided to request a withdrawal of the initial capital, which is $500 on the 5th of August, after sending the required documents needed. to my surprise they canceled the request that same day, without given me the reason. I requested another withdrawal , and they cancelled it after two-three days with out given me the reasons again. I have been given their support several mails for them to give me the reason the refuse to approve my withdrawal they did not answer. I have to try another withdrawal request , and the cancelled it after 3 days, I have to send them mail again, they finally replied me that, the did not see my ID identification, and I quickly send them my international passport. I placed another withdrawal of the initial capital $500. that was last week Friday 2nd September. the transaction was still pending as at yesterday. To my greatest surprise, today I decided to check the status of the transaction, I could not login to my account anymore, when I put my login details they keep telling me that password or email is wrong, in which I have never change my password. Ok, I click on forget password, and follow the process, they refer me to a link in my email to click and reset my password, I did that, they sent me a new password that I should use and login to my account. I copied the password and past it to access my account, but it keeps telling me that the password or email is wrong. Now that money that I use to deposit into that account was not mine, I borrowed it.The owner is on my neck now, I did not know that Binaryrrom365 is not a reliable broker. (September 2016)
have you done a review on boss capital yet? i have used them for 2-3 months, they take weeks on end to approve withdraws, $1 going missing from my account with no explanation. they tell you withdraw taking so long due to processor machine having trouble, then a agent tells me its all done by people, absolute lairs, and on top of that they did not send the full amount of my funds last time. They freeze the clock on expiring trades to put you otm, they also manipulate the price at will so you get otm, they also delay your trade placing so after 6 seconds the SR you get is way off what it was when you entered the trade leading to otm’s. (July 2016)
Empire Market Corporation
I was approached on Facebook by Max Pavel who is an account manager with Empire Market Corporation. He told me about their company’s great return in trading Forex and binary options with client funds. He invited me to their private Facebook group. After seeing positive feedback and reviews from their members, I decided to invest for an event that ran on the last NFP employment news release in America on 10 March 2017. They claimed to get up to 65% return on these events. I invested $11000 for the event, with promises of being able to withdraw on Monday, 13 March 2017. When I contacted my account manager, Max Pavel on Tuesday, he still said I shouldn’t worry, the payment will be sent to my bitcoin wallet. On Wednesday, 15 March, I had still not received my money and a massive argument ensued, because they said they were not going to process my withdrawal. The reason was because according to their policy you must have another “basic” account before they could process the withdrawal. I explained that Pavel never explained it to me like this and they admitted and accepted that there was an error on his side, but were still not going to give my money. On Thursday, 16 March, I spoke to another account manager, Derrik C. Cruz, who said he could solve the problem. I requested that my account be transferred to him. He said that because of my complaints to the company about Pavel, they were not going to give my money, unless I open the basic account. After it looked like all things were resolved and calmed down, they promised to give my withdrawal the same day, if I invested $3700 for the basic account. The last message I got from Pavel was that there were no worries and Cruz also confirmed everything was in order. I received a confirmation e-mails from the company, confirming my 2nd deposit, as well as acknowledging my withdrawal request. They also confirmed that my withdrawal will be processed within. 24 hours Later on the same day I contacted Cruz to ask when the withdrawal will be done. I couldn’t get hold of him. It seemed that he had blocked me from sending messages to him. I tried Pavel and the EMC company page, but they also blocked me. I sent numerous mails to the company e-mail address, but they did not reply. Later on when I accessed the EMC company website, my access details were no longer working and I couldn’t log in to my account. I also tried phoning the number they had on their website, but an electronic message just said the number is unavailable. I have no doubt that they are a deposit only investment scam. They lure people in with lots of promises, but with no intention to ever pay them their capital or profits. Please assist in stopping these people, as they will definitely con others out of their hard-earned money. (March 2017)
I wish I had come across your webpage and Facebook profile 3months ago as I have just gone through one of the worst ordeals of my life and have been scammed by Option.FM for a very large amount of money… I was tricked into “invested” with Option.FM in May 2016 as they had on their trading platform that they were compliant and regulated. It turns out they were falsely advertising this fact and I have been scammed. They even had a Google Play app and had it advertised on their platform but has since been removed because of all the bad reviews and scamming they have done to people. I research them at the start and nothing negative came up or it was a case that they were hiding their deceit and I did not search deeply enough.. Now after 3months I have lost a ridiculous amount of money. They are sitting with $30.000,00 in my trading account and won’t return the funds to me. This is because of their so called bonus funds they have added along the way. In the beginning they got me to sign for bonus funds and only once I had signed for the bonus did the funds get added to my balance. But when the trading was good they added a large amount of bonus funds to my account which I did not ask for, sign for it even have a choice whether or not I wanted them. Of course I thought this was strange but only made sense once my account manager suicide traded into the ground straight after that and I tried to withdrawal the remaining funds which I have unsuccessfully able to do. When I did make the withdrawal request my account manager said he wanted to help me and tried to get me to trade the remaining amount which I refused. He has stopped emailing and calling me I have been handed over to a “recovery trading account manager” who keeps calling me and is trying to get me to trade the remaining amount to grown my balance (no doubt this is to loose it all). I have since found a lot of reviews about the company scamming people in the same way and their system of scamming people is replicated over and over again with the same names coming up in the reviews. Their system is almost text book. (September 2016)
I got sucked into them last year via a senior broker, John Anthony, and invested a total of US$150,000 of my money. As with other brokers Mr. Anthony was full of promises of major profits as long as more money was invested, he also kept adding “bonus money” up to US$65,000. We made one successful trade based on his recommendation for about $20,000 profit and I did some personal trading to get the account to +/- US$240,000. I had to go offshore for a project later in the year and had limited internet access so was not able to check on my account. When I did after a 6 week delay and saw that there had been no movement on it I contacted Mr. Anthony and told him I was taking my funds back as money I had taken out of my share trading account would have given me a 20% increase vs zero with him. I filled out and sent a withdrawal form for US$85,000 to the Company, (due to their withdrawal policy limit I could not withdraw the full US$150,000 in one go). Later I received a call from one of his minions, Mr. Robert Karol, who asked if he could trade on my behalf “to prove to me what profits could be made with their system”. I told him about the withdrawal notice already submitted and asked how I could be sure he would not trade my funds away. He assured me he would never risk more than 2% on any trade, (their calls are all via Skype and are recorded so this should be verifiable). I agreed he could trade the remaining funds. Next day as I was about to get in a taxi to head to the airport he called again and said the trading was going well and could he use the additional US$85,000. I had no time to check my account and based on his assurance agreed to allow him to do so. When I finally got a chance to look at my account he had traded the total amount to zero within the space of one hour. He had only remembered, after the account was emptied, about the withdrawal request and hence his call to me. I managed to get records of all his trades and the times they were made. He had already traded the complete account to zero before he called me to request the additional US$85,000 so at the time hew asking for it, it did not exist any more. I have all records and time stamps of his trades and the calls he made to prove all this. I have contacted FraudAlert UK and made a report but have yet to hear back from them. I intend to proceed with a legal claim against this company and hopefully get them shut down but your platform should be used to alert as many people as possible to avoid further people being taken in. (June 2017)
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Hallo en nogmaals bedankt dat ik mijn verhaal kan vertellen aan u. Vorig jaar ben ik begonnen bij Titantrade. Omdat ik geen ervaring heb begon ik met 350 dollar. ongeveer 3 weken later nam Nicholas Harper per telefoon contact met me op. Hij zij als ik meer geld stortte hij met me kon gaan werken, zonder risico. Om een trade te maken met garantie moest ik mijn account aanvullen tot 5000 dollar. Dit heb ik gedaan omdat er garantie was dat ik dit geld niet kon verliezen. En inderdaad ik heb de trade gedaan en verloor. Maar mijn account was weer aangevuld tot 5000. Dit gaf mij vertrouwen, maar wat ik niet wist dat het nu om een bonus ging. meerdere keren hebben ze me een trade gegeven die ik niet kon verliezen en mijn account ging over de 10000. Toen ik geld wilde opnemen zij Nicholas dat dit niet kon. Er zat te veel bonus in. Maar hij kon me helpen. Op een vrijdag ochtend 9.30 belde hij me. Hij had 3 trade’s voor me. Als ik die deed dan kon ik zonder probleem 10000 opnemen. Ik voelde me niet lekker hierbij maar had geen keus. Ik wilde geld terug hebben omdat het terug betalen niet soepel ging. Ik deed de 3 trade’s wat Nicholas me doorgaf en in een half uur was al mijn geld weg. Alleen 0,63 cent bleef over. Hij belde en zij er was een crash op de beurs in Londen. Later zou hij me bellen hoe hij dit ging oplossen. Heb daarna nooit meer iets gehoord. Het gevaarlijke is bij deze club is David Fisher. Hij praat op je in net zo lang tot je extra geld stort. En als ze je nummer hebben van je visa kaart dan proberen ze ook nog om daarop extra krediet te krijgen zodat je later met een schuld zit die afbetaald moet worden. Dit is gelukkig niet gelukt bij mij, anders was het probleem nog groter geweest dan het nu is. Bij elke storting die je doet, moet je hiervoor tekenen op een formulier. Ik heb schriftelijk mijn bank aangeschreven. De betalingen waren gedaan met visa kaart en ik dacht dit is verzekerd. Maar helaas de bank zegt dat de transacties er normaal uitzien en ze daarom niks kunnen doen. Ik kan u de laatste 3 trade’s doorgeven als u ze nodig heeft. Ik dacht dat ik het kon vergeten, maar als je erover schrijf dan is het nog lang niet vergeten en ik hoop dat u me kan helpen. De bank kan niets doen omdat elke betaling normaal is verlopen. Met vriendelijke groet en ik hoop op een oplossing. (September 2016)
Please add Trader Vc to your list of rouges. They now come highly recommended byFin tech ltd who are fellow criminals. I was convinced I found good brokers when I started trading with them. I was told to deposit just $250 and I could get access to the auto trading software provided by Fintech Ltd. The moment TraderVC got my funds, I got a call from a guy called Dean. He told me he was my new account manager and the funds I had deposited where not enough, he arrogantly told me to go to my bank and borrow $2500. when I made it very clear I had no intention of investing anymore funds, I was interested only in the auto software so I could trade by myself. Dean became very angry and hostile. When he realised he was not getting anymore money from me he hung up. Yes, he rudely hung up. I quickly realised this was a hoax. There was no software. On 09/ 06/17 I requested that they close my account and I withdraw my funds which were $250 at the time of my request. I was then told someone from Finance could call me before they authorise this. It could take 5 to 10 days they said. On Monday 12/6 my account balance had dropped to $91. TraderVC had stolen my money and when I called them, they shamelessly tried to blame the robot. They said I had auto trade on my account and it had lost my money. I told Trader Vc they were common criminals and I could report them to FCA, and ACTION FRAUD. I also had all my emails to them to back me up and a recording of Dean the rude account manager screaming down the phone that he was not going to put auto trade on my account until he was ready. TraderVC then tried to say I needed 100 dollars in my account to make a withdrawal. There was 250 when I first requested they give me back my money. These are criminals who need locking up and their trading license revoked. They are destroying lives. Please warn everyone. I will forward all my emails to them. (June 2017)
I opened an account with UBOCapital in December 2015 with a small amount to start off with ($300) – just to see how things go. My account manager (Richard Edison) promised to manage my account and trade for me. It started off well and he brought my account up to $365 within a couple of weeks. Then all of a sudden he stopped. When after one month, I mailed him to ask whether he was still trading on my account, there was no reply. I tried again a week later: still no reply. Nor from the Support Department. So I wrote to Edison, asking him to open no further trades on my account and placed a withdrawal request – this was totally ignored. During the following months I repeatedly placed withdrawal requests (for only my invested amount), and tried to contact the compliance department. They just ignored my e-mails and kept cancelling my withdrawal requests (all 4 !). Then suddenly I got a mail from Edison this week saying that he was going to place trades on my account (even though I had already expressly told him not to !). I wrote back again saying Please no more trades, I just want to withdraw and quit ! But he completely ignored this, opened several trades, most of which lost, wiping out a third of my account. In my eyes these are downright scammers – not only do they never bother to reply to e-mails, but they completely ignore clients’ wishes and don’t let you withdraw your money. Their Support (online chat etc.) is absolutely appalling – if at all it can be called “support”. So my advice to anyone who’s considering “investing” their hard-earned money with these people: Stay clear and RUN AWAY as fast as you possibly can ! (July 2016)
Hi, I would like you to add UK Options to your scam list please. I was scammed by them after I deposited £250 in April and doing okay on small trades for a while. I ignored all the phone calls I got from brokers that phoned me almost daily until I lost all but £60. At the beginning of June Jake Evans phoned me and convinced me to deposit £500 and he would help me to trade. This I did and he took another £500 at the same time so I had £1060 in my account. When I queried it he said £500 would be paid back. I made a few trades at his suggestion and they all lost. Mid-June the £500 still hadn’t been paid back so I withdrew £500 and waited until the end of June to see what happened. Jake phoned me several times to see why I wasn’t trading and I told him I was waiting for the money withdrawn to be paid back to my card. A week later it still hadn’t been withdrawn so I contacted Jake several times by email, live chat and Skype – he ignored all my contacts so I withdrew the remaining money and asked my bank to arrange a chargeback. This took a couple of months but eventually I got all the money I had withdrawn. (October 2016)
I’d like to report this so called broker. visionbinary.com They bullshit that they can help me to make lot of money, and ask me deposit capital as much as possible. I only deposit US$300 as test, and they keep phone me to deposit more, I refused. Then they just closed my account without return my capital. This is just like robbery. (July 2016)