Binary Options Exposed by BinaryOptionsThatSuck!
April 13, 2014 by Bogdan G
Have No Fear! BinaryOptionsThatSuck Team is Here!
One of the main concerns of traders has to be the broker they are trading with. It’s no secret that some brokers are trying to make you deposit and once that part is done, your money seems to be glued to the platform and all your attempts at withdrawing hit a wall of canceled requests or stupid reasons like “Your bank refused the transfer so we cannot give you your money back”. That’s why we at Bots do our best to lend a hand and keep you away from those brokers who are just hunting your money, without providing a professional trading environment.
Why we have BOTS?
We are constantly reviewing new brokers and we try to come back to that website after some time to see if they made some progress, improved in any way or if they added new features. Whether a broker is reliable or not can only be determined after assessing more than one component of the service offered so we look at transparency: do they offer basic information about the company like name and address or are they trying to hide something? Support: is the Live Chat operative helpful, polite and informative? Or all they are trying to do is determine you to deposit and to get your phone number so an Account Manager can call you. We try to ask the most common questions so you don’t have to wait for an operator to answer – believe it or not, sometimes that is a long wait. For some of the Frequently Asked Questions, you can check Kolyo’s FAQ articles.
Although not a scam in the real sense of the word, some brokers hide fees and conditions within their Terms and Conditions, knowing that people don’t always take the time to read the entire document. It is not a true scam because the traders agreed to the terms when they opened an account, but we’ve seen crazy stuff like a 10 pound fee if you want to receive more than one (first one in the month is free) e-mail from the broker containing information about your trades. Or a 7% fee calculated to your entire account if you don’t follow a certain rule when withdrawing.
The thing is that brokers are always polite and promise you the world before depositing and afterwards… well, things change. They stop answering your phone calls and your e-mails, you cannot withdraw… everything sucks. Of course, not all brokers are that way but we try to make you avoid the ones that are. It is possible that by the time you want to open an account with a certain Binary Options service provider, they have changed some of their conditions that we are not aware of, so the best thing you can do (I consider it mandatory under any circumstances) is to read their Terms and Conditions and see if you really want to comply to those rules.
How can BOTS help?
On top of digging deep down to expose scams or just unprofessional brokerages, we want to help you by making your voice heard. We offer you a way – three ways actually – to share your problem and possibly fix it. You can comment on our website, you can submit a broker review and you can post on our Forum. If you have been scammed or mistreated by a broker, don’t just forget about it, make it public and share with others. This way, the binary options service providers will know they will get a bad reputation if they don’t change their ways of doing “business”. We help you by giving you the opportunity to make your story heard and even more, if you are having some problems with one of our Recommended Brokers, we will be an active part of your problem-solving journey.