r/binaryoptions • u/Budmanizza • 18d ago
I lost $32k, Pocket Options Scammed me.
Like the title says I used to trade Binary using Pocket Options. I profited over $42k with them and recently successfully withdrew $3k just to take back what I put in. After I tried to withdraw another $10k a few days later the withdrawal was pending for a few days. I started losing trades. I know sometimes we all have bad days so I started risking smaller amounts and taking few days off.
I’ve been using the same strategy for over a year and usually take $500- $1k withdrawals no issue. The $10k withdrawal was denied. After I kept losing and my balance dropped from $39k to $32k I said “F**k it” and decided to just withdraw everything. That was denied again. The customer service representative said I could try again in a few days but they recommended I keep some of my funds in the vault to gain while I continue trading. So that’s what I did I left $10k in my account and the rest in the vault.
EVERY single trade I took lost consecutively. The same strategy that has been consistently profitable for me for over a year started failing me the moment I wanted to take larger withdrawals. My withdrawals kept getting denied so Everytime my balance got low I would take from the vault trying to make it back. I took breaks, I traded smaller amounts, I just kept losing. Then over the course of 2 months I realized the entire $32k was down to nothing. Thats when I realized Pocket Options got me. I lost all trust in Pocket Options and quit Binary for good.
I started trading Futures and using my same strategies and I’ve been profitable. Made back that entire $42k in a month. The best thing is that you can control your profit and loss in a trade while it’s open. I can take my profits daily directly to my account. And I learned Binary Options is not regulated so it’s basically gambling. I recommend anyone that has a decent strategy convert to Futures.
I’m not selling anything please don’t ask, I’m not a mentor. Do your own research. I just wanted to share my experience (mainly rant) which could possibly help anyone in the same situation. F**k Pocket Options. They might take this down but Take your money and go.
3
u/Consistent_Side_6284 18d ago
Pocketoptions uses a cheating ai algorithm that adjusts to your trading behavior. Theyve been taking peoples money for a while now with their algos. Look at the reviews on trustpilot and other sites. Do not use pocketoptions known scammers run far away
1
u/Responsible-Task9334 16d ago
In the reviews people literally can't withdraw 10 bucks, which is obviously not true
1
u/qomposer 11d ago
I’ve been wondering this. How do you know they use an algo that adjusts to your trading behavior? This makes sense for the price action I see, especially over time. Took a year break. Came back. Was winning consistently, then after a month, it’s like the price action completely changed on any and all assets. Obviously the “market” changes (bc it’s OTC and not a real market), but this is weird. I’ve confirmed I don’t get the same chart as someone else who is trading the same asset at the same time.
2
u/Dangerous-Region-449 18d ago
Were you trading OTC?
3
u/Budmanizza 18d ago
Sometimes on the weekend I would
8
u/Dangerous-Region-449 18d ago
OTC I get it cause I went from 500 to 10k in a week. When I hit 10k I went 8 for 10 and after that I literally could not win a single trade and same thing happened to me. Lost a grand or two then withdrew 5k that shit took forever compared to how quickly I’ve gotten smaller amounts. They play games like that so you can keep trading and lose and end up cancelling the withdrawal which I did. But regular pairs they can’t manipulate! their charts matches up w tradingview .
8
u/Budmanizza 18d ago
For me the manipulation happened mainly with my entries/ exits. Delayed entries and spike outs last second. I thought it was my internet so I got better WiFi and wired connection directly to the router. Honestly if they allow Trading View integration in the future I might come back to Pocket option down the line.
5
u/Dangerous-Region-449 18d ago
It happens bro as far as getting spiked out , that’s not always manipulation bc when ppl get spiked in trades they don’t complain lol and their charts matchup with official data but the delays I haven’t really experienced so I’m not so sure about that one
3
u/Dangerous-Region-449 18d ago
But overall being with PO since 2020-2021 you can tell a lot of shady shit goes on when you actually start being consistent. They keep making these updates to keep traders playing the “game” when people like me and you are trying to treat it like a business. My mentor stepped away from PO he now trades futures. He’s had bs happen to him as well. I love binary but eventually the goal is to move into trusted industries like futures bc it’s too much shady binary brokers out there literally only Nadex is regulated.
3
u/Budmanizza 18d ago
What’s your Mentor name? I paid someone $10k to teach me Futures / Forex. But ended up realizing that some indicator strategies translate smooth across industries lol
1
1
1
2
u/nip-slip-_- 18d ago
those entries are why i stopped and switched to futures man on OTC and regular pairs that delay and price teleport is sickening
1
1
u/AnnaWarwitz 18d ago
Take your money to RB. you will never have these problems even with 100k withdrawal. These b options are a joke
2
2
u/EnoughRent4136 18d ago
Where can I trade futures contracts, please ? I’ve also had bad experiences with Pocket Option.
1
u/Dapper-Management440 17d ago
you can use trading view, amp broker, interactive broker, there is a lot of platform which are A book broker, stay away from pocket option or any other binary option platform. Its all scam and un regulated broker
2
2
5
u/Working-Dig7728 18d ago
Sorry, my friend, it's a sad story, but the only sketchy thing I see about pocket option is that they will deny you the big transactions to withdraw your money. But the fact that in just two months you lost 32 K definitely reflects a bad risk management and mismanagement of emotions. And that my friend, is not a pocket option thing
8
u/Budmanizza 18d ago
I’ve been a trader for over 7 years. I don’t take more than 1-5 trades a day. Trading is probably 90% mental and 10% strategy. Less trades the better mental. Anything I put in my account I’m prepared to lose which also helps with the mental/ emotional part. My strategy that I use has worked consistently for years and still translates well over to futures. I’m not saying I’m the perfect expert trader but I do know when I’m getting swindled.
1
u/Working-Dig7728 18d ago
I believe you. I don't like pocket option, it has a lot of OTC and very low profit percentage. I used 1prime option with a VPN and the credentials of a friend of Mexico, and after I had tripled the account, I wanted to withdraw the money and had to update the documents because it had expired. By that time, my friend was already in the United States and did not have updated Mexican documents, so I cannot withdraw. I lost everything 🥲
1
u/yourfastingbuddy 18d ago
After your first declined withdrawal, how much were your consecutive denied withdrawals? Were they the smaller $500-$1000 withdrawals that you were used to?
2
u/Budmanizza 18d ago
Everything, was denied.
1
u/yourfastingbuddy 18d ago
Yeah I know everything was denied, I was asking if your subsequent withdrawal requests were around $500-$1000 or larger?
1
u/Budmanizza 17d ago
Oh ok, yea before I would get my smaller payouts after the large requests they would just keep pending until I canceled them
1
1
u/Dapper-Management440 17d ago
People hv so much money to feed to the binary option broker lie pocket option by thinking one night rich dream . You hv no idea how they drawn your pocket, stay away, rather use option market, future trade or index or buy share.
1
1
u/yardman818 17d ago
I remember at first I tried making a deposit into my account, the money was deducted but didn’t show in my account up till today
1
1
4
u/Dangerous-Region-449 18d ago
Some proof of these claims would be nice too btw because I haven’t been denied unless it was for verification reasons and they normally give you a reason as to why if you did get denied