Michael Freeman "Neo 2" is Binary Options Fraud

[tell-it-as-it-is]

Hi all - I confirm this is a scam and unfortunately I have been caught - there are a number of forums linked/friends with michael promoting this and others and all they do is delete was account -you'll know the ones -?they all promote the new products same time - steer clear of binary and automated -even if you appear to win it won't be for long - if these guys are winning its because they are using it with their own trading strategies - steer clear - I've had my account rinsed when I turned the software off!! They're no good

 

[FelixU1963]

FelixU1963, you are only half done. Now try to get your money back from the broker.

After 2 phone calls from Tradorax trying to persuade me to leave my money in they have approved withdrawal of the risk capital of $500 but left the profit of $76.94 sitting in my account, so I have to apply for that all over again.... I won't be fussed if I don't get the profit as long as I get my money back.

At least the second caller was much more polite than the first who loudly spoke over me demanding an explanation as to why I was pulling out.

 

[Alexandra84]

i have a question ? Does the broker also earn money when the trader loses ? Or only when the trader wins ? Maybe I am wrong but I felt my broker wanted that I loss money ,I lost and ofcourse for me to continue trading I need to deposit more money otherwise my account will be closed

 

[donne]

Thanks guys, and Samantha, for posting. I have been looking into NEO2 (as well as Primebrokerz) and the peace Army is always my first port of call.
A note on Scam Watchdog by (good Christian!) Roy Tribble. He seems to be conducting a massive scam encouraging people to sign up to more than ten, recommended, brokers to enable his signal software to generate accurate signals. He talk how 'they' are trying to shut him down and he is doing his Christian duty to help people! Was sprung using fiverr actors to say how rich they now were after using his signal software.
I lost $500 with brokers and bots he recommended before I wised up.

Why aren't the relevant authorities, ie fraud squad acting to shut these mongrels down?

 

[Pharaoh]

i have a question ? Does the broker also earn money when the trader loses ? Or only when the trader wins ? Maybe I am wrong but I felt my broker wanted that I loss money ,I lost and ofcourse for me to continue trading I need to deposit more money otherwise my account will be closed

Binary brokers don't have liquidity providers. This means there is no bank or other company besides the binary broker taking the other side of the trade. Placing a "trade" with a binary broker is the same as betting on red or black in roulette at a casino. When you win at a casino, it costs the casino money. When you lose, the casino makes money.

The biggest difference is that licensed and regulated casinos pay off winners - both to encourage more people to gamble as well as to keep the casino staff and owners out of jail. The other difference is that if you placed 1000 up bets in binaries and 1000 bets on black in roulette (betting the same amount at the broker and the casino), statistically, you would lose a lot less money at the casino than with the binary options broker.

 

[FelixU1963]

There's no harm in trying the Israel police, but a complaint to the ISA is also a good idea.

www.isa.gov.il/sites/ISAEng/CONTACT/Pages/default.aspx

If you deposited using a credit card at Tradorax, give your card's issuing bank a call. Ask to speak to the fraud department. Explain that of 2 brokers holding your money, one appears to be refunding you and the other is refusing to meet that obligation. Ask if a chargeback can be done.

Update: Tradorax refunded my $500 risk capital but have not remitted any of the profit and have now locked my account. It seems they are not accustomed to paying out to winning clients. Last time I will ever go near any unregulated entity.

 

[johnjohn]

Hi "Copenhagen calling"
I also bought the hype on you tube with the neo2 software. I´m a total newbie in binary trading. ( I deposited with my Danish MasterCard 500 us)
The app uses Tradorex as trader i actually got a mail from Mr. Ryan Collins | VP Financial advisor VIP Department at Tradorax,
telling me not to use this software.. But why are they not warning you when you make the deposit and you are speaking highly about what are hefty app they have made..?

Should or can i stop/close all activity with this kind of people..?

In case how do i get my money back..?

The trader calls me tomorrow i don't now what to do after i just found this out..

ps. i accepted a account where they gave me 100 us on top for a total of 600 us, but this kind of account is not as easy to close i have read somewhere..?

My neo2 app says now i have lost 80 us and the balance is 520 now.. But i will not use this app anymore now.

Would it be possible to make actual money with a honest broker in tradorex or should i call it the quits..?

Ps: Sorry for my bad english

Regards John

 

[speiter]

Thank a lot samantha!!!!!
When we write "neo² scam" or "neo2 scam" we go to another scam review. But with "neo² forex peace army" we go here!

for the futur I will think about: "if it's to good to be true, it probably is"

 

[Pharaoh]

John.

First, realize that binary options companies are like casinos. Your losses are their profit. Any money you win and withdraw hurts them. The majority of binary options companies resist even letting clients take back their initial deposits.

Second, no matter what they promise you, do not deposit one more cent with them.

Try the withdrawals process. If that fails, contact your credit card's issuing bank. Explain how the broker is not providing the promised withdrawal service and ask about a chargeback.

 

[nitya]

Hi everyone.
I am a newbie trader but I have been researching and tryingto find out for years if I can make money on the net. I have determined that the only way is to learn to trade. I am now in a school to learn BO trading. However, I am STILL not convinced that this is a scam...WHY? Because the youtube videos are showing people doing live trades MANUALLY: Sure, as an auto trader this will probably eat your money...but nobody should be using these bots as autotraders for the mere logic of your money going away from you.
I am ready to deposit at a broker who will give me the money back and try these signals manually on a trading account.
I want SOME SIGNAL SERVICE to help me trade manually with a high percentage of winning signals.
I was reffered on another forum to optionrobot...which now says it is not accepting new clients due to "server issues".MOST of the youtube videos do not say either copybuffett OR neo2 should be on auto trader..some good videos tell you not to do that at all.
If I am able to deposit to a broker who will refund, i will trade the signals on demo first and see what happens...then and only then will I use real money.
I hope that nobody gets scammed anymore.
It makes me so discouraged at the state of humanity.