Binarybrokez is a absolute scammer!

yongquanxu

Recruit
Messages
9
HI everyone:
I opened an account with Binarybrokez in March 2016 and started trading binary option with balance of 5000 USD . I am new to binary option trading ,but as an experienced Forex trader, I know the market is volatile and I must to minimize the risk in order to survive the market. Accordingly, I only placed $25 per position ,risking 0.5 % of my balance. From mid of March 2016 to 25 March 2016, I placed 51 trades and resulted in losing only $22.25.reaching the balance of 4978.75. During this time Joshua Erikson trespassed on me by phone or skype, alleging to help me to familiar with binary trading and platform . Moved by his good intention, I communicate with him using teamviewer , However, instead of helping me to familiarise with the platform, he persuaded me to deposit another $5000 asserting that he would trade for me to produce 20% -30% monthly return . In order to show me how good his trading ability was, without my complete agreement, he took 3 trades, one after another, but unfortunately all were loser. As a Forex trader , I understand that a string of loser is not unusual in trading. What shocked me was that he unexpectedly used notorious Martingale strategy. He bet successive $200,$400,$800 for 3 trades. My god! He actually traded my account in gambling way! I asked him for an explanation. He said he would make compensation in bonus for me, and that he would take another 2 long term trades to make up with my loss. He alleged that these 2 trades would win with a probability of 90%.Without my agreement he had placed 2 trades and said that the results would be obtained 3 days later. At that time I thought this broker was terrible. I should get rid of this gambler as soon as possible no matter what the results of the long term trades would be. 3 days later it nearly gave me a jump when I checked my account. Not only both were loser but also my account actually was blown with balance of only $178.75 left! He bet one trade of $ 1600 and another of $1800 continuing to use martingale strategy until using up my fund with last position!. This so called senior manager Joshua Erikson blown my account just with 5 positions !​

Not only was that, the most annoying things that, after stirring up with a nest of hornets , Joshua Erikson suddenly vanished . I tried to contact him many times but in vain. “A true man has courage to accept the consequences of his own actions” But Joshua doesn’t look a true man .In fact he was as timid as a mouse ,after getting into trouble ,he completely disappeared and hidden nowhere, casting his promise of making compensation to the winds.

So I had to contact support team to seek for a fair solution. I thought that my unpleasant experience with Joshua was only individual case and Binarybrokez Company would uphold justice for its clients. But to my surprised, instead of hearing my story first , they insisted that I should provide supporting document to verify my account and my identity, alleging that this is to protect me from defrauding my account!. It is just ridiculers that when Joshua Erikson traded my account with nearly $5000 without my authorization, no one in Binarybrokez think of verifying my account to protect my interests while when my account had been actually blown away with nearly no money left in it , Binarybrokez suddenly realized that they should take all of necessary measures to protect my account , with only $178.25 left in it! I had a hard time to pass a barriers of verifying my account and I finally get a reply from this support team to my complain : “the market is volatile and no refund can be made. ”To refute this excuse for Joshua ,I sent a email saying that just because the market is volatile, a sound management strategy should be taken, and martingale strategy is definitely not one of them! But just as saying goes : “Even when right a scholar never can win an argument with a military man.”My argument just did not get any reply. So I began to suspect if Joshua Erikson, not only hold the post of senior account manager ,but also concurrently assume the office of leader of support leader . So I asked the support team if any supervising authority for Binarybrokez I can lodge my complain with. They answered that they are not a regulated broker so no supervising authority I can lodge complain with against Binarybrokez. I did not realize until then why it is most important thing to a regulated broker. That is because a unregulated broker,without any supervision for their fraudulent behaviour ,would behave just like a rude military man.

Desperately, I had no choice but to ask for their department of complaint appear to deal with my dispute with scammer Joshua Erikson. But it turned out a hard job for the department of complain to show up. However, when the department of complain finally pop up, they just seem a guised support team as they also insisted that I should provide supporting document to verifying my account and my id , in order to protect my blown account with only $178.25 left! It took a few month for the department of complain to allow me to tell my story. To facilitate to solve the dispute, I offered a solution that Binarybrokez pay me either $300 or $500 bonus for my loss of $4900

The reason for me to offer such comprises is that one cannot expect a fair compensation from a unregulated broker ! To my surprise ,even such a comprises was positively refused by Binarybrokez who said in email :

“ …as you can understand we cannot refund funds that have been traded. As you know the market can be very volatile. Joshua is one of our more experienced account manager and when he opened certain trades we assure you that he was sure that they would expire in your favour. This is after he was able to analyse the market and understand the possible outcome of the trade…”

Above defences is simply not worth refuting: I know,I know,I know! Market is volatile. That is just why I had to use sound money management instead of using martingale strategy. Even a child of 7 years can use martingale strategy, no need to bother more experienced traders like Joshua Erikson .Yes, yes! Joshua Erikson is a more experienced trader, but not so much managing a account as blowing a account!

Needless to say, I am not happy with their reply at all. Also because they even did not say a word for apologize in their reply!

I threatened them that I would spread my story on relevant website and provide a list of website to publish on

forexpeacearmy.com

binaryoptionsblacklist.com

is-scam.com/Binary+Broker+Reviews

scambroker.com

fairbinaryoptions.com/brokers

But they don’t seems care about at all

That means that Binarybrokez value $300 much more than their reputation. Yes, it is something scammers have in common! I bet that Binarybrokez would not show up to argue the case after I exposed theirs ugly behaviour here. If they would, I would show some respect to them anyway, as they, after all, do care about their reputation a little .

What lesson from my experience with Binarybrokez to be learned?

1. Stay away from scammer Binarybrokez and never choose a unregulated broker like Binarybrokez because if any serious issue occurred, you could not lodge you complain nowhere

2. Never put your hard earned money into the mouth of Binarybrokez( Joshua Erikson being their outstanding representative ) as they would play with your money as play electric game!


Finally , I challenge binarybrokez to come out from hidden place to argue any details of my story . I bet they dare not pick up my gauntlet as they , just like any scammer, not as much care about their reputation as money , even just $300.I defied binarybrokez by sending this story to their department of complain . if anyone want to make sure that my challenge has been received by Binarybrokez ,he or she could send my story again to the link : complain@binarybrokez.com

I am here on my horse to waiting for Binarybrokez to come out for accepting battle. Let us see how Binarybrokez respond to my challenge!

Nick Xu 8 January 2017
 
Contact the cards issuing bank(s). Ask to speak to the fraud/disputes department. Explain exactly what happened. Explain every lie and deception. Ask about a chargeback based on fraudulent failure to provide promised services.

If the bank won't help, WinChargeback may be able to get them to reconsider.
 
Few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:

If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
Go to their website and invite them to here via Live Chat
Invite them to join this thread via email (Send an email to every possible address).

You will find their email and address http://www.binarybrokerz.com/contact-us/

Also, Share your story as a review https://www.forexpeacearmy.com/forex-reviews/11976/www.binarybrokerz.com

You can also share your story on their social media pages mentioned below:

https://plus.google.com/+Binarybrokerz

You can also open FPA traders court case against them. To do so, Visit this link www.forexpeacearmy.com/community/pages/traders-court/ and follow the suggested steps there

Note: Don’t forget to update your review/s when you got solution of your problem, Best Of Luck
 
HI everyone:
I opened an account with Binarybrokez in March 2016 and started trading binary option with balance of 5000 USD . I am new to binary option trading ,but as an experienced Forex trader, I know the market is volatile and I must to minimize the risk in order to survive the market. Accordingly, I only placed $25 per position ,risking 0.5 % of my balance. From mid of March 2016 to 25 March 2016, I placed 51 trades and resulted in losing only $22.25.reaching the balance of 4978.75. During this time Joshua Erikson trespassed on me by phone or skype, alleging to help me to familiar with binary trading and platform . Moved by his good intention, I communicate with him using teamviewer , However, instead of helping me to familiarise with the platform, he persuaded me to deposit another $5000 asserting that he would trade for me to produce 20% -30% monthly return . In order to show me how good his trading ability was, without my complete agreement, he took 3 trades, one after another, but unfortunately all were loser. As a Forex trader , I understand that a string of loser is not unusual in trading. What shocked me was that he unexpectedly used notorious Martingale strategy. He bet successive $200,$400,$800 for 3 trades. My god! He actually traded my account in gambling way! I asked him for an explanation. He said he would make compensation in bonus for me, and that he would take another 2 long term trades to make up with my loss. He alleged that these 2 trades would win with a probability of 90%.Without my agreement he had placed 2 trades and said that the results would be obtained 3 days later. At that time I thought this broker was terrible. I should get rid of this gambler as soon as possible no matter what the results of the long term trades would be. 3 days later it nearly gave me a jump when I checked my account. Not only both were loser but also my account actually was blown with balance of only $178.75 left! He bet one trade of $ 1600 and another of $1800 continuing to use martingale strategy until using up my fund with last position!. This so called senior manager Joshua Erikson blown my account just with 5 positions !​

Not only was that, the most annoying things that, after stirring up with a nest of hornets , Joshua Erikson suddenly vanished . I tried to contact him many times but in vain. “A true man has courage to accept the consequences of his own actions” But Joshua doesn’t look a true man .In fact he was as timid as a mouse ,after getting into trouble ,he completely disappeared and hidden nowhere, casting his promise of making compensation to the winds.

So I had to contact support team to seek for a fair solution. I thought that my unpleasant experience with Joshua was only individual case and Binarybrokez Company would uphold justice for its clients. But to my surprised, instead of hearing my story first , they insisted that I should provide supporting document to verify my account and my identity, alleging that this is to protect me from defrauding my account!. It is just ridiculers that when Joshua Erikson traded my account with nearly $5000 without my authorization, no one in Binarybrokez think of verifying my account to protect my interests while when my account had been actually blown away with nearly no money left in it , Binarybrokez suddenly realized that they should take all of necessary measures to protect my account , with only $178.25 left in it! I had a hard time to pass a barriers of verifying my account and I finally get a reply from this support team to my complain : “the market is volatile and no refund can be made. ”To refute this excuse for Joshua ,I sent a email saying that just because the market is volatile, a sound management strategy should be taken, and martingale strategy is definitely not one of them! But just as saying goes : “Even when right a scholar never can win an argument with a military man.”My argument just did not get any reply. So I began to suspect if Joshua Erikson, not only hold the post of senior account manager ,but also concurrently assume the office of leader of support leader . So I asked the support team if any supervising authority for Binarybrokez I can lodge my complain with. They answered that they are not a regulated broker so no supervising authority I can lodge complain with against Binarybrokez. I did not realize until then why it is most important thing to a regulated broker. That is because a unregulated broker,without any supervision for their fraudulent behaviour ,would behave just like a rude military man.

Desperately, I had no choice but to ask for their department of complaint appear to deal with my dispute with scammer Joshua Erikson. But it turned out a hard job for the department of complain to show up. However, when the department of complain finally pop up, they just seem a guised support team as they also insisted that I should provide supporting document to verifying my account and my id , in order to protect my blown account with only $178.25 left! It took a few month for the department of complain to allow me to tell my story. To facilitate to solve the dispute, I offered a solution that Binarybrokez pay me either $300 or $500 bonus for my loss of $4900

The reason for me to offer such comprises is that one cannot expect a fair compensation from a unregulated broker ! To my surprise ,even such a comprises was positively refused by Binarybrokez who said in email :

“ …as you can understand we cannot refund funds that have been traded. As you know the market can be very volatile. Joshua is one of our more experienced account manager and when he opened certain trades we assure you that he was sure that they would expire in your favour. This is after he was able to analyse the market and understand the possible outcome of the trade…”

Above defences is simply not worth refuting: I know,I know,I know! Market is volatile. That is just why I had to use sound money management instead of using martingale strategy. Even a child of 7 years can use martingale strategy, no need to bother more experienced traders like Joshua Erikson .Yes, yes! Joshua Erikson is a more experienced trader, but not so much managing a account as blowing a account!

Needless to say, I am not happy with their reply at all. Also because they even did not say a word for apologize in their reply!

I threatened them that I would spread my story on relevant website and provide a list of website to publish on

forexpeacearmy.com

binaryoptionsblacklist.com

is-scam.com/Binary+Broker+Reviews

scambroker.com

fairbinaryoptions.com/brokers

But they don’t seems care about at all

That means that Binarybrokez value $300 much more than their reputation. Yes, it is something scammers have in common! I bet that Binarybrokez would not show up to argue the case after I exposed theirs ugly behaviour here. If they would, I would show some respect to them anyway, as they, after all, do care about their reputation a little .

What lesson from my experience with Binarybrokez to be learned?

1. Stay away from scammer Binarybrokez and never choose a unregulated broker like Binarybrokez because if any serious issue occurred, you could not lodge you complain nowhere

2. Never put your hard earned money into the mouth of Binarybrokez( Joshua Erikson being their outstanding representative ) as they would play with your money as play electric game!


Finally , I challenge binarybrokez to come out from hidden place to argue any details of my story . I bet they dare not pick up my gauntlet as they , just like any scammer, not as much care about their reputation as money , even just $300.I defied binarybrokez by sending this story to their department of complain . if anyone want to make sure that my challenge has been received by Binarybrokez ,he or she could send my story again to the link : complain@binarybrokez.com

I am here on my horse to waiting for Binarybrokez to come out for accepting battle. Let us see how Binarybrokez respond to my challenge!

Nick Xu 8 January 2017
Hi Nick,

You are repeating my story. Just the broker names changed. I lost a lot more than you did since 2015. I haven't got my money back yet. I will take the case eventually to the court in Israel. They are actually located in Israel. Credit card chargeback process is the only method I knew that can get your money back without additional costs if you are within 120 days (depending on your bank) time frame. Binary Brokerz is absolutely a scammer and just it is a cross the boarder crime and no government can take any action against them yet. But the punishment will come eventually.
 
Hi Nick,

You are repeating my story. Just the broker names changed. I lost a lot more than you did since 2015. I haven't got my money back yet. I will take the case eventually to the court in Israel. They are actually located in Israel. Credit card chargeback process is the only method I knew that can get your money back without additional costs if you are within 120 days (depending on your bank) time frame. Binary Brokerz is absolutely a scammer and just it is a cross the boarder crime and no government can take any action against them yet. But the punishment will come eventually.

My bank favoured Binary Brokerz. I lose the case. I did not even received a final letter explaining the decision. When I called them they told me they sent me a letter back in December but I did not received any letter. I asked them why I lose the case they won't tell me anything other than that "the merchant has sufficient evidence, showed better evidence". I don't even know what that means. I sent them my account balance that I was trying to withdraw. Sent them my exchange emails between Binary Brokerz and myself. The copy of my withdrawal request, copy of them cancelling my request, an email stating that my documents had been verified, given my verbal request and still they did not release my money. All those evidence did nothing to convince the bank that the company was not providing services when it comes to withdrawing your money. I emailed Binary Brokerz to again request to withdraw my money and close my account and now they tell me that money was lose in trading and cannot be refunded. I realized now, it doesn't matter if you have money in your trading account, at the moment you decide to deposit money with them, your money is gone. It's a hard realization to find out that there are people like them.
 
HI Colonel:
Thank you for your instruction regarding how to fight against Binarybrokez. I will do one by one as you suggested. Bottom line is
Binarybrokez must pay in same way for their scam .
 
Hi Nick,

You are repeating my story. Just the broker names changed. I lost a lot more than you did since 2015. I haven't got my money back yet. I will take the case eventually to the court in Israel. They are actually located in Israel. Credit card chargeback process is the only method I knew that can get your money back without additional costs if you are within 120 days (depending on your bank) time frame. Binary Brokerz is absolutely a scammer and just it is a cross the boarder crime and no government can take any action against them yet. But the punishment will come eventually.
HI Angel ren:
Thank you for your sharing your story. i agree with you that the punishment will come eventually upon Binarybrokez. i do not hold hope that my lose will be recovered. But i am determined to do something which would make Binarybrokez uncomfortable.
 
My bank favoured Binary Brokerz. I lose the case. I did not even received a final letter explaining the decision. When I called them they told me they sent me a letter back in December but I did not received any letter. I asked them why I lose the case they won't tell me anything other than that "the merchant has sufficient evidence, showed better evidence". I don't even know what that means. I sent them my account balance that I was trying to withdraw. Sent them my exchange emails between Binary Brokerz and myself. The copy of my withdrawal request, copy of them cancelling my request, an email stating that my documents had been verified, given my verbal request and still they did not release my money. All those evidence did nothing to convince the bank that the company was not providing services when it comes to withdrawing your money. I emailed Binary Brokerz to again request to withdraw my money and close my account and now they tell me that money was lose in trading and cannot be refunded. I realized now, it doesn't matter if you have money in your trading account, at the moment you decide to deposit money with them, your money is gone. It's a hard realization to find out that there are people like them.
HI MariaE:
Thank you for your sharing your story which is also a missile launched to Binarybrokez. Although our loss may not be recovered we must force Binarybrokez to pay in another way. That is to expose them as scam to public as much as possible in order for Binarybrokez find harder to do business .
 
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