Binary Options Exposed by BinaryOptionsThatSuck.com!
Have No Fear! ThatSucks (former 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.com 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. For a full guide on how to do all that, we’ve added an in-depth and recently updated guide which you can find here. Regulation now is a lot tighter than in it was before and this is a good thing, but it can be overwhelming to understand where and when to complain and which is the right regulatory agency. To make your work easier, we have recently added to our collection an extensive Guide to the Regulatory Galaxy (insert link when the article gets published) – this article will show you where and how to file a complaint with various regulatory agencies across the globe. If you are not familiar with how binary options regulation works, here an introduction: Binary Options Regulation.
Both newbies and experienced traders will benefit from this next guide written by Okane on how to tackle everyday perils in the Binary Options jungle: Stay Safe – Your Guide to Binary Options Survival, Newbies and Veterans. 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. But our part doesn’t stop here: to trade successfully, you need a sound strategy, a system that will help you make the right decisions every day. To help with that, we’ve put together an extensive collection of trading systems and you can find them all, free of charge of course in our Strategies section. Read them all, choose the one that fits you best and once you’ve done that, go test the strategy on our free Demo platform – CommuniTraders 2.0 – which you will find at the top of our Forum page. We give you all the tools to succeed, but you have to put in the work, so here’s your part:
How can You help?
If you’ve been scammed or mistreated by your broker, the best thing you can do is to NOT let the problem be forgotten in a dark corner of the internet. Make it public, fight back. The best way to do that is to post reviews and comments on our website and on our Forum. Include as many details as possible and please, leave out bad words because that will prevent you from being taken seriously. Before we can help you, you must tell us and the entire community what problem you are facing and how you’ve been scammed. Remember, we are here to help but we need your help to do it.