BinaryBook-easy to deposit-hard to withdraw?

[tolly]

Thanks so much Pharaoh-
Monday I am going to start the charge-back- I downloaded the bonus conditions of BinaryBook yesterday and yes- as some of our forum members say- it says you have to trade a certain -(huge)amount of trades before you can withdraw the bonus- I didn't ask for a bonus actually- 3 bonuses -I just want my capital.-In reality they have committed a scam because the bonus binds your investment to them-in their favor-theirs is a win -win- situation in their favor-not mine-that was not explained at all-I have not signed anything and as a newbie I wouldn't have. Its a clever bind that they use, their broker, by entering their bonus system without notifying me,have changed my trading conditions.-BinaryBook have failed to provide the simple withdrawal service promised to me-such a prominent part of their training and advertising-Ta Tolly

 

[tolly]

NAB Bank has started charge back procedure against BinaryBook re:not providing withdrawal service provided!

 

[dcharles121]

Hi guys-It was early march and as a new retiree,I had much too much time on my hands. I decided to try my luck with a few binary robots- Like many other Aussie members I was temped by the the thought of having a little extra income long term. I thought $250 was low risk with such potential - Hmmm -little did I know?

Long story short -round about the same time I was convinced to invest in another company with the the same potential. They were called Options FM ------BAM! I was scammed badly, but with great help from the team-I am in a much better place now, thanks FPA

Round about the same time I invested $250 in another Robot -I was convinced they used magical algorithms that could beat the market. That same night a broker rang up said i was in luck.. He would train me to outgun the bots!!!- Lucky me-Sigh!!!!
Of course he convinced me to invest $5000, always pushing me to invest more, but by then I had had a real lesson from Option FM and I had become much wiser.

Here's the thing. The broker asked for my password and actually traded for me.
I don't think this is LEGAL Over about 50 or so trades he won and lost roughly in a ratio 50%- he also approved for himself about $5000 in bonuses to cover his losses.

My account has about $7,500 in it at the moment. He thought I was going to invest more and I probably would have if this FORUM hadn't jolted me back to my senses.

That same night I changed my password and sent an email saying that I want out because I didn't have the right temperament for trading. Hmm- they didn't like that!
I also tried to withdraw my $5000 investment-ha-they didn't like that either!

I thought I would try Winchargeback.com on your suggestion but after two attempts they are either too buzy or not interested which was a little disappointment- I am a bit apprehensive to do the charge-back myself this time because my other case is ongoing.
Any suggestions would be greatly appreciated-PS-there wont be a third time!$$$$$$$$$
Tolly-wounded warrior!-- Down but but by no means out!

 

[dcharles121]

NAB Bank has started charge back procedure against BinaryBook re:not providing withdrawal service provided!

Yes Binary book is to hard to do withdrawal.
1) When you place for a withdrawal....Pending this is right
2) Pior to approve the withdrawal .The Expert Trader will call you and after the call its approved
But what happens you will never get a call for weeks
This the bad part of BINARY BOOKS

 

[JakeHill]

Binary Brokers tend to follow strict withdrawal procedure.The trader needs to be fully compliant and must have completed more than 10 trades to perform a withdrawal.

 

[tolly]

Hi Jake -The broker for BinaryBook had my password from the very beginning-apparently-that is according to him, he has traded for years.. Trading for me, he had a hit rate of about 50% on 50 or so trades, To make BinaryBook look attractive so I would invest more, he gave himself $5000 worth of bonuses. Being a newbie I was prepared to play around with $25-while he was trading up to $1000 per trade. Although I am a newbie I know that that is way too high a risk in a $5000 investment portfolio! and told him repeatedly I was not comfortable at that level of play.
Where it all goes pear shaped -
He gave himself the bonuses without my approval- thus changing the withdrawal conditions that BinaryBook advertises-namely
easy deposit
easy withdrawal.
I don't believe any investor would be comfortable knowing that he would have to trade 30 times the volume of the bonuses they give you- Especially if it meant that you can't withdraw your capital as a result of the bonuses! Apparently BinaryBook is not regulated by any governing body, however Aussies are protected by certain consumer laws that if adhered to- will always be in the consumers favor!

FPA warrior-Tolly

 

[JakeHill]

Hi Tolly, totally agree with you some brokers tend to persuade you to invest more money so as to receive big profit. But if you are able to learn some interesting binary trading strategies and also following the financial market, a high payout is possible.

 

[Pharaoh]

And that hypothitical big profit won't mean anything if the broker decides to not let a client withdraw. After all, binary brokers make their money from client deposits. Paying out winnings hurts their bottom line.

 

[tolly]

Thanks for that info Pharaoh-
Isn't it interesting,that : your wisdom is the complete opposite to what they-the binary option traders- sell you on!.
And again- I, and many others- thank you for your tireless efforts in helping good people get a fair deal.
It seems that many off these people prey on the vulnerable-
those who are not as savvy with IT platforms and smooth talking fraudsters-
FPA warrior-Tolly--------------------------

 

[tolly]

Today I have sent in another request for withdrawal of my original investment
and the link to this forum!

NAB Bank has started charge back procedure against BinaryBook re:not providing withdrawal service provided!

ACORN.gov.au-------------------------------------------ARN report:6KX4-HAC3
econsumer.gov:investigating:------------------------------------------70723480
SCAMwatch.gov.au----------------------------ID:accc-scamwatch 73271

FPA warrior-Tolly