Ubinary scam alert

[Pharaoh]

Call your credit card issuing bank. Ask to speak to someone in the fraud department. Explain exactly what happened and ask if a chargeback is warranted.

Two other pieces of advice:

1. If you get an unsolicited phone call about any form of financial product or investment, hang up. A quality company will have no need to cold call you.

2. Stay away from anything involving binary options. Those companies are all bucket shops. All of their expenses, including the salaries of their "financial experts" who offer trading advice are paid from losses of traders.

 

[smartdeal]

Thanks for the advice

Call your credit card issuing bank. Ask to speak to someone in the fraud department. Explain exactly what happened and ask if a chargeback is warranted.

Two other pieces of advice:

1. If you get an unsolicited phone call about any form of financial product or investment, hang up. A quality company will have no need to cold call you.

2. Stay away from anything involving binary options. Those companies are all bucket shops. All of their expenses, including the salaries of their "financial experts" who offer trading advice are paid from losses of traders.

Thank you for your advice from now on if any broker call me I simply do exactly what you told me because every week I received calls at least one or two insisting me to open new account.
Now I know what to do with those scams .

 

[Pharaoh]

Make sure to leave a review for uBinary here at the FPA. Also, leave a followup post in this thread to let everyone know if the chargeback worked or not.

 

[smartdeal]

Hello, call your credit card company to charge back if you deposit via credit card ,next time don't deposit too much money in unregulated brokers ,only deal with regulated broker.
Ubinary is unregulated and it's a scam broker not allow traders to withdraw their funds and always ask to deposit more money in the accounts .

 

[sandi2014]

they do the same with me ....stoole all my money ...after i request withdrawal they make my account zero in one day

we should fight them

 

[smartdeal]

Hello dear , we want to get our money back but as you understand now that our money are in their pockets somewhere unknown in the world as they are not regulated and registered they can lie to us they are located in UK but who can confirm that they really are in the UK with their fake address of their location.
To get our money back is like a dream to win a lottery jackpot , Ubinary is definitely a scam .

 

[SCAMBUSTERZ]

The amount of misinformation on FPA is really sad. Binary Options are here to stay and if we can keep the quality companies which there are many and new ones to replace these seedy scam brokers well then work in that fashion. To tell people Binary Options are to be stayed away from is not a help and the censorship at FPA is not benefiting the trade community at that point. You guys really have to do a better job. 1st most of the scam brokers that you have issues with are from 1 brand "SpotOption" this company is located in Israel and many of the brokers on their platform are also located in Israel which is not to say all of them are scams but their cultural and marketing values in general are horrible and because they mainly have ties to the online casino businesses this is where the main problem lies. They are not reputable trading bodies and view their customers as "PLAYERS" which means these players who win are treated like card counters = to be eliminated from the casino as well they use tactics such as brokers offering advice which is a joke because they have no real knowledge of trading and just wish to get customers to churn so they burn. Some basic rules apply never let a broker trade for you and never accept a bonus unless you know the terms and are willing to trade/have a plan to trade out of the withdrawal restrictions which can be extreme. Mainly if you wish to trade binary options do so with companies you don't see posted up with complaints such as "Markets World" which never misses a payment to winner and there are others out there too. But lets be clear Binary Options are here to stay so get over it, they are the future as you can tell by their popularity. Lets work on getting rid of the SCUM brokers/scams and just horrible individuals that have no respect for themselves and others that cause harm to this industry by working in a positive manner to inform people of what is real and what is not. FPA is not doing a good job and you really need to do better for the sake of the people you are trying to help...

 

[Pharaoh]

You are part of the FPA. If you feel a good job of getting correct information out there is not being done, you could accomplish a lot more by posting correct information than by complaining about why correct information doesn't exist.

Eventually, I expect some binary brokers will emerge that will be able to maintain a good reputation. There will be one distinguishing feature that may indicate the possibility that a binary broker is honest - An honest binary broker cannot provide an expert who claims a huge success rate to trade your account for you. The reason for this is the same reason that a casino cannot provide expert advice on winning at their games - if there really was a casino employee who regularly went out and won piles of cash for clients, how would the casino stay in business?

Binary options brokers have no liquidity providers. This means that their only source of income is money put in by traders. An honest binary broker would be like an honest casino. A few people would walk out with a profit, but the vast majority leave each day with less cash.

 

[Master Yoda]

An honest binary broker would be like an honest casino.

well said Pharaoh

 

[tvo]

I had the same thing that happened to me last year. Did a deposit of $5k. Then after a few weeks made a little profit like $200. I decided I was going to switch to another broker because I hated their platform. Did a request for a full withdrawal. The Withdrawal button was gray out and I can't click on it. Called my account manager and told him I want a full withdrawal, said he will get back to me. Then a few days later, these ****s placed multiple $400, $500 dollar trades and wipe my account clean. Had a remaining balance of $367 left. I was sooo freakin angry and called this ******* on the phone. Said he didn't place those trades, damn liar. if not him then someone in his company did. A few weeks later I got my $367 returned back to my credit card and lost my $5000 initial deposit. Called the bank and said they could not do anything about it. I guess its a life lesson learn. If I was to lose that $5000 trading on my own, I would not feel as bad. But to have someone rob me like that, its ****in ridiculous. STAY AWAY FROM UBINARY.