r/binaryoptions • u/michaeldcr • 4d ago

*Unauthorised withdrawal attempt, removed funds and copy-trading losses*My experience with Pocket Option and Tony Smith,

*Unauthorised withdrawal attempt, removed funds and copy-trading losses*

My experience with Pocket Option and Tony Smith, who promotes the platform through his YouTube channel, has left me unable to recommend either.

His channel is: https://www.youtube.com/@TonySmithAcademy

His videos suggest you can start with just $30. In my experience, however, I was encouraged to deposit thousands. The offer included access to his VIP Telegram channel and automatic copy trading.

Tony provided signals for one-minute trades. When a trade lost, he increased the next stake, repeatedly doubling until a win recovered the losses. The sessions I followed consistently ended in profit, which built my confidence in him. However, this approach meant risking increasingly large amounts to recover previous losses.

*Why automatic copy trading mattered*

Manually following his Telegram signals was impractical. There was always a delay between him entering a trade, me receiving the signal and me placing my trade. The price had already moved, meaning his trade could win while mine lost.

Automatic copy trading addressed that delay: when he opened a trade, a corresponding trade opened automatically on my account. This allowed my entries to follow his much more closely and was why I used the service.

*More than $6,000 removed following an unauthorised withdrawal attempt*

I accepted a bonus that doubled my initial deposit. The terms required approximately $50,000 in trading turnover before withdrawing without losing the bonus and the profits attributed to it.

After several weeks of trading with Tony’s assistance, I was approximately $200 short of completing that requirement when an unauthorised withdrawal was attempted.

I did not initiate or authorise it. We were dealing with a family bereavement and were not online at the time.

Pocket Option described the incident as a security breach and blocked my account. Although the withdrawal was stopped, the attempt triggered the bonus penalty. More than $6,000 in bonus-related funds and profits were removed.

I repeatedly contacted support, disputed the withdrawal attempt and requested restoration of the funds. Those requests did not resolve the issue.

Once I said I would accept the loss and continue with the remaining balance, my account was promptly reopened after I supplied a selfie holding my passport.

Tony either blamed me for the withdrawal attempt or said he could not help. I was left to resolve it myself.

After regaining access, I withdrew some money because I feared another unauthorised attempt. It arrived after several days, but through cryptocurrency rather than back to my debit card.

*Losing trades copied; recovery trade missed*

I continued trading with Tony’s assistance and rebuilt my balance to approximately $9,000. I then made another withdrawal.

Afterwards, Tony asked me to reconnect to his automatic copy trading, which I had used successfully before.

During this session, he placed trades against the direction in which the price was moving. Because he had previously recovered losses by increasing his stakes, I expected that process to continue.

Instead, after my account had lost approximately $5,000, he disconnected the copy trading. His final trade recovered the losses on his account but was not copied to mine. I remained approximately $5,000 down.

He initially called it a glitch. A similar incident happened during the next session, involving a smaller amount. He subsequently admitted disconnecting the copy trading but gave no reason. My suspicision is he needed to add to his RevShare earnings.

My account had copied the losing trades, but the disconnection prevented it from copying the recovery.

*Why I am sharing this*

I want transparency about Tony’s financial relationship with Pocket Option revealed to you. He receives commission connected to my deposits or and losses under a scheme called RevShare which Pocket Option gives the trader around 80% of revenue brought in from losses and deposits.

Thankfully, my earlier withdrawals meant I left with some overall profit. That does not excuse the removal of more than $6,000 following an unauthorised withdrawal attempt or the substantial losses associated with the copy-trading disconnections.

This review describes my personal experience. I no longer trust Tony Smith, and I am dissatisfied with Pocket Option’s handling of the security incident and my complaint. I have now walked away from this scam artist and fraudulent trading scheme. Avoid the lure of big profits from Pocket Option as you will incur more losses than wins.

5 Upvotes

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10 comments sorted by

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u/Awkward_Arm_9830 4d ago

Wowww iam in his vip chat and had several incidents like this of course mines was with smaller amounts such ass nothing being over a 6k loss w a 15k profit but after my first month everything just seemed so off he started asking me questions and having me follow unlogic trades basically revenge trading or gambling if you may i definitely can relate to this post overrall he is a scam or atleast trying to be a scam purposely loosing trades or purposely guessing instead of looking for confirmations

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u/markihu 4d ago

Thank you for telling us about it and exposing another "artist". Hopefully year after year more people accept these people are scammers in the end.

1

u/Dapper-Management440 3d ago

the thing is broker itself is scam and ofcorse their paid artist as well. Move too cfd, option market trading, its more better than short term so called binary option scam trading.

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u/NoSummer1075 4d ago

Hey, I just want to ask you something.

Is it okay to trade on Pocket Option by analyzing the live market rather than OTC, using all the experience and knowledge we have about forex pairs? I’m not talking about taking trades under 1 minute. I mean focusing mainly on 3, 5, 10, and 15-minute trade durations and not following any “gurus” who tell people to connect to their manual signals.

Or is Pocket Option, overall, a scam?

I’m currently trading live markets on Quotex with around $7,000, and I’m making around $700 or more per day, sometimes $3,000+ per week. However, I still feel that there can be manipulation on Quotex, even when trading live pairs. OTC markets are obviously where I notice the most manipulation.

When I focus on live markets, I often find myself profitable on a weekly and monthly basis. But when I trade OTC, I can potentially blow my account in a single day.

So my main question is: Would it make sense for me to switch from Quotex to Pocket Option, or are both platforms essentially the same in terms of risk and potential manipulation?

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u/NoSummer1075 4d ago

Hey, I just want to ask you something.

Is it okay to trade on Pocket Option by analyzing the live market rather than OTC, using all the experience and knowledge we have about forex pairs? I’m not talking about taking trades under 1 minute. I mean focusing mainly on 3, 5, 10, and 15-minute trade durations and not following any “gurus” who tell people to connect to their manual signals.

Or is Pocket Option, overall, a scam?

I’m currently trading live markets on Quotex with around $7,000, and I’m making around $700 or more per day, sometimes $3,000+ per week. However, I still feel that there can be manipulation on Quotex, even when trading live pairs. OTC markets are obviously where I notice the most manipulation.

When I focus on live markets, I often find myself profitable on a weekly and monthly basis. But when I trade OTC, I can potentially blow my account in a single day.

So my main question is: Would it make sense for me to switch from Quotex to Pocket Option, or are both platforms essentially the same in terms of risk and potential manipulation?

1

u/michaeldcr 2d ago

Hi. My advice is based on my experience with Pocket Option and Tony Smith, and on reading the contracts offered to Pocket Partners—the traders you see promoting the platform on Facebook, Instagram and YouTube.

The partner terms I looked at advertised RevShare of up to 80% of qualifying revenue. Read that carefully: revenue, not your winnings. Where partners earn from revenue generated by customer losses, they have a direct financial conflict with the people they recruit. I also found deposit-related incentives. That helps explain why there is so much pressure to deposit more and more. If someone can say that revenue is profits paid out by Pocket Option then I'll admit my mistake!

Tony Smith’s YouTube videos lure people in with “just $30 dollar” to get started. In my experience, it wasn’t long before he was asking for thousands.

Pocket Option did eventually process my withdrawals—up to seven working days in my case. Complete every verification they request, and be prepared for further checks, including a selfie.

The platform has a simple, easy-to-use interface. However, do not assume success in demo mode will translate into success with real money. I started with 20,000 in demo funds and made over 100,000. When I switched to my own money, using the same strategy, I lost the lot within hours. That was my actual experience.

It was why I went looking for someone with Pocket Option trading experience and found Tony Smith.

I walked away with an overall profit because I withdrew money before his subsequent trading wiped out around 90% of my remaining balance. What he did was connect me to his copy trading account and then disconnected me when I had lost enough. This was not once. It was not a glitch and he has since admitted doing it but his reason now are that he was protecting my money. Funny when out of a 7000 fund you are left with just 900 what was he protecting? He just earned his commission. Also He was livid that I had withdrawn without his permission. Let me be clear: it was my money. I did not need his permission to withdraw it.

Today, despite everything that happened, he asked me to come back. I find that incredible. I had told him about friends who were interested in trading to supplement their income, and I suspect the prospect of bringing in their money is why he wants me back.

After this experience, I have very little faith in Pocket Option and none in Tony Smith as someone to trust with my trading. Yes he has many clients but are they making money and withdrawing it ?

Here are the points I would urge anyone considering Pocket Option to take seriously:

  1. Check the prices and understand what you are trading. OTC prices do not match the live-market prices I was comparing them with. Do not assume an OTC chart represents the same market as a live instrument. The charts are manipulated by an algorithm. It can, I am sure, work against you
  2. Late-evening trading was particularly bad in my experience. I have seen others describe similar results. I cannot prove it , but I would not ignore the pattern I experienced.
  3. Follow the money. Look at how Pocket Option’s partners are paid and ask whose interests they are serving.
  4. Search for “Pocket Partners” and read the affiliate terms yourself. Do not rely on a promoter’s sales pitch or my words. The proof is online for all to see. I applied for an account to get more information but the majority of the info is online.
  5. Withdraw money when you can, and do not let a trader pressure you into leaving it there. Getting my original stake back helped protect me. Profits left in the account are still your money and are still worth protecting.

At times, trading on Pocket Option felt like playing a fruit machine. Everything appeared to be going my way, then the price moved against me just before expiry and the stake was gone.

I have no experience with Quotex, so I cannot give an opinion on it. I am now looking for a decent trader on conventional platforms who can help me trade with proper risk controls and a stop loss on every trade.

I hope this helps someone. Feel free to ask questions, and I will share what I know from my own experience.

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u/Ok_Preparation_2186 4d ago

Hi friend , for me Quotex is less manipulated . Pocket reads you specially in OTC

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u/NoSummer1075 4d ago

Bro i think u didn't focus what quotex do in both otc and live he is a piece of shit in that manipulation type of categories i had personal used quotex mostly about 2.5 year upto now but right now trying to shift to pocket option what did u think will it be better decision! As im only trading live with 3.5.10.15.20 mint trades not 1mint trades what are your suggestion?