The April Scam Watch – Opteck, Optionbit and the Copy Buffet Scam

Monthly Scam Watch, Fourth for 2016 – April Complaint Report

Scammers are still “fighting” to get their pockets full of your money and we are still fighting to warn you about it. We try to bring to your attention some of the most interesting comments and complaints so you don’t get scammed by the same trick over and over again. Read and avoid!



Opteck is first on this month’s Scam Watch:

Yup, they keep on getting bad reviews from users, but I believe people get things wrong: the brokers’ job is NOT to trade for you but to act as an intermediary between you and the market. It should be you “against” the market not your broker against the market. Stop listening to any trading advice that comes from your broker. Probably 1% of them are traders and the rest are salespersons.



Optionbit and unprotected credit cards – bad match-up

Wait, they have access to your credit card??? Once make your first deposit, they can then get whatever amount from it? How is that possible? I don’t know what country you are from but my card has a password that I have to input every time I want to make a purchase online. I am sure something can be done about that and you can ask your credit card company to give you a password or SOME sort of protection. Come on, I hear this stuff too often lately – people deposit a few hundred bucks and the brokers just put their hand inside the cookie jar, stealing all the cookies. Put a lid on your cookie jar.




Copy Buffet… OMG not this again

To Lyn and everybody who thinks about using this software: please read this Copy Buffett review then judge for yourselves if you want to invest money. If you are still not convinced, then take the time to see what others have to say about it in this thread. I’ve said everything I had to say about this matter in my review linked above, as for your loss, Lyn, it’s very small compared to what others are losing, so don’t make it bigger.




Oh look, Opteck is making a double appearance in this month’s Scam Watch

Um… it doesn’t work like that. The broker is not your friend who wants to make you money. Most of the times the amount you lose goes directly into their pocket, so you see why they want you to lose… also that analyst works for them, not for you. Trading means trading not giving your money to others to trade. Sorry but too many people get things confused these days.





Copy Buffett strikes again

The best thing is that you’ve cancelled your cards but again, I don’t understand why cards don’t have passwords. ”I was assured its putting money from one pocket to another” No! It’s called stealing where I’m from. If you touch my money without my approval, it means you stole from me. And they have a “recovery” team… what a joke. Just stay away and don’t buy what they’re selling.





Great feedback on CTOption but applies to many others

Thank you, that’s great feedback but… we’ve been saying these things for a few years now. Guess what, people still don’t listen, still deposit more than they can afford to lose, still take bonuses and still allow their account managers to trade for them. Well, at least you get the gist. Hopefully, others will follow.


Walter Clayton



UKOptions – they are making their way to the Scam Watch more often lately

I am sorry you were mistreated by UKOptions but unfortunately there’s not much you can do now. You have kept records of emails and chat conversations, but what can you do with them? I mean, UKOptions are not regulated and as far as I know, they are not from the UK so I don’t know where you should complain. What you could do is post the pics on our forum. It’s the least you could do to get back at them.





BigOption is not big on withdrawals

Of course everything is fine until you want to withdraw. That’s when all the troubles start usually. Maybe your bonus turnover requirement was not met and that’s why they didn’t allow you to make the withdrawal? Anyway, I believe bonuses and insured trades should be avoided almost completely.





OptionRally and more Bonus drama

They said here, take this 2K USD, there’s no catch and you believed them? They said they will trade for you and make you rich and you believed them? Reality check: there’s always a string attached. They want to gain something from everything they do because brokerages are not charitable organizations, but businesses. If they would hand out money to everyone, how would they make a profit? Anyway, good thing you didn’t invest more. As for your advice to go to TopOption – thanks but I have my reservations.




Scam Watch Comes Again Next Month!

That’s for this week Scam Watch. We’ll be here in 4 Weeks time, with more complaints, comments, feedback, or whatever it is you had to tell us, and we had to answer. See you around! Questions? Feedback? Suggestions? Leave a comments below, check in to our forums or contact us on Info(at)BinaryOptionsThatSuck(dot)com!