Made money on their synthetics binary options with good money management strategy, then all of a sudden started making losses, the trend seem to suddenly reserve only when I place an order, or would just reach within a point or two of my target point and reverse, after the expiration time it would just shoot above the target point. They would watch your trade for a while to determine if u are a good trader and when they find out u really know what u are doing, they start manipulating the charts.
I am here to tell my colleague traders that deriv.com is a pure scam. I was making money initially until the price was manipulated against me and I lost almost $8000 profits I have made plus my capital. The instrument I traded was volatility 50 (1s) and the price kept on rising for more than 7 weeks without a slight correction.l am on sell position and I knew that it would come down to my entry point with time but that never happened until my entire money was wiped away. The bitter truth is that the control of the price is in their hand and they will always manipulate it against you.I am in serious debts now and I felt like commiting suicide.
Aug 25, 2020,
Real Example of Scam.
Service use: Live
Length of use: 3-6 Months
I have no sheer of doubt that binary.com (transitioning to deriv) is a well-oiled scam machine. I've noted with concern that no matter how well a set up looks, it will always go against you, especially if you choose a higher but not necessarily. And especially with indices. Before I type my ordeal, let me disprove the greed part because I have patiently studied this and I exercise prudent risk management.
I tested this a couple of times with Crash, Boom, Step, and with Volatilities. While a small lot in either of these could go up/down the chart smoothly, and for long, try increasing that lot and the direction changes almost immediately. Before you know it, your money is gone.
For example, I've noted that more than once when I placed a sell for Boom or a buy for Crash, the spike/drops comes up immediately leaving me no choice than to close or wait for another preset or bot-activated (I believe) spike/drop to wipe my account clean. Binary.com needs to be investigated for spontaneous anti-trade movements in their source codes or whatever that are activated almost immediately one places a trade. I also believe there should be an independent source of Live movements of these charts globally apart from what "appears" on your personal account.
I agree, the move to automated only customer support is most likely hurting the company. They seem to have fixed the server lag issues (order not being processessed in a timely fashion leading to detrimental slippage), and have made the spreads reasonable (at first they were very good some months back, then they switched to unreasonable for a while and now they are in the middle, there is still great drawdown for each trade opened, immediately, due to spreads).
I disagree about not being able to get paid/withdrawals. The company has processed a few withdrawals for me. All of them were processed within a day. It seems the Neteller/Skrill process is either fully or semi automated. As for the bank wires those require a certain amount and you willl need to work that out with support, and it will take time.
Since Deriv became connected to Binary.com there has been a remarkable change in Binary's customer support efficiency. The worst aspect is they now link clients to the "Community" to see if their problems can be solved through others' experience. This is a retrograde step. Just who wants to wait until some undedicated user gets back to them or read through reams of other people's issues in the hope of finding an answer?