Expert Option, SCAM! They cut my PAYOUTS in HALF!?

fasimatradingfasimatrading Posts: 1
edited April 2016 in Brokers
I've been trading with Expert Option. After I reached 100% in profits over my deposit they reduced all my asset profits by a half. Now I want to quit and I'm afraid of not being able to withdraw it.
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  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭
    Rename them Scam Expert Option then. Put in the request worse that can happen is they deny it. Then file a chargeback vs them as they really sound like a scam broker imo...
  • le2015le2015 Posts: 1
    anyone have trouble with expert option?im new and going to trade with that?are they scammed?
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭
    Don't waste your time on brokers like this. They will disappear with your money. Stick to more well known brands with few complaints.
  • yohooyohoo Posts: 1
    don't trust this broker. me traded expert option. I wanted withdrawl of all my money.pending many days and money is gone.
  • wasimatchiawasimatchia Posts: 1
    Yes Expert option is a scam as I've deposited $50 yesterday and I made it $1000 and now when I check my account today morning it shows only $50 again all my trading history is deleted and now I am not able to trade too, please check the attachment for the proof
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  • The_Geek_MHThe_Geek_MH Posts: 351 mod
    that's sucky. They show your trading volume at $1400ish, that's something. Did you take a bonus? Have you contacted them? Are they regulated? Be sure to let them know you have posted your complaint here too, they may try to accommodate you this way. In the future better to stick with a more trusted broker.
  • meetudesouzameetudesouza Posts: 1
    Never Invest in Expertoption...!!its totally fraud...if you lost money you are good trader but if you start earning good profit..they will block your account by saying "Your account at ExpertOption was closed due to violation of Terms and Conditions. We will make full refund of your deposit to your NETELLER "....this is there trick not to give you profit...and return your deposit...atleast i got my deposit money back...!!..I suggest you all not to invest in this fraud company....!!read its reviews on google.... they even will decrease your profit of assets if you will start earning good profit....mine assets profit left only 41% on each deal...!!...Still i earned good profit..and at the end...they don't had any choice ..except to block me and block my profit.....be safe guys!!from expertoption...!!
  • mythosmythos Posts: 2
    Hi guys any news on expert option, I did not find any negative review on google besides the ones you were posting here, cheers
  • noelnoel Posts: 1
    edited October 2016
    in which binary option brokers are trusted.pls.advice because iam new of these trading.
  • SuperSuper Posts: 6

    I've been trading with Expert Option. After I reached 100% in profits over my deposit they reduced all my asset profits by a half. Now I want to quit and I'm afraid of not being able to withdraw it.

    Which broker is that ?? Please let us know so that others don't get con
  • SuperSuper Posts: 6
    noel said:

    in which binary option brokers are trusted.pls.advice because iam new of these trading.

    Me too
  • SuperSuper Posts: 6
    Super said:

    noel said:

    in which binary option brokers are trusted.pls.advice because iam new of these trading.

    Me too
    I guess those who has a good broker would not come to this forum :)
    Perhap each just spell out their bad experience broker, so that we can avoid them, not to get con
  • OkaneOkane Posts: 659 mod
    I use 24Option, they pay out. Of course all brokers have issues but you want a broker that is regulated and when you research
    you find out that they pay out. And so long as you do your own trades and don't listen to any account managers you should be ok.
  • ClosingbellClosingbell Posts: 63
    edited November 2016
    Hi Folks. Just registered today to share my experience. I am a VIP customer with IQOption. I've opened an account with ExpertOption couple of days ago with $50 and claimed 100% bonus on my deposit. My account is fully verified as you can see on the attachments below. I was very impressed by the high profitability offered on the options. When I registered they paid out over 90% on Bitcoin turbo options. Now after 3 days I am lucky to get 65% at max on any asset. You can see on my daily trading volume that I executed less and less trades as profitability fluctuates a lot. I reached out to the customer support to (attached) to see why is the profitability reduced significantly. First I was asked to send an email to help@expertoption.com (no point as I sent two already nobody got back to me), than I was told that profitability changed by many factors. So my question is why is 24option and IQOption offers over 80% payout in the same time?? I still have to trade an extra 1K to make sure I can withdraw my funds with the bonus, but at 65% profitability I am not prepared to trade as break-even ratio at that level is 60.61%. My strategy only works at payouts of over 80% with acceptable risk taken in terms of bets on each trade. I am getting really concerned about the legitimacy of this broker for a number of reasons: 1) Horrible customer support team. 2) Fluctuation of payouts 3) Non EU regulated. See screenshots below proving all the above. If this profitability issue will not be resolved in the next couple of days with ExpertOption I will make a formal complaint with FMRRC. Hope the above helps guys. Be safe. Closingbell
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  • ClosingbellClosingbell Posts: 63
    Just for the record guys, I am not promoting IQOption or 24Option. Just posted my experience above. I have no complaints against IQOption tho. Most reliable broker I have every traded with.
  • ClosingbellClosingbell Posts: 63
    Some more proof guys. I activated the Experts feature on the ExpertOption platform which displays how much other trades bet to which direction. I marked two traders who I watched live on the platform. They placed $100 and $1000 call options. After the expiry of the option period expertoption displays how much they got in return. You can see that the trader who placed $1000 got $1870 in return. In the meantime I had 64% payout on the Bitcoin.
    Proof that other traders get 87% payouts_private.png
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  • ClosingbellClosingbell Posts: 63
    More proof guys. I was watching the expert option platform live. They have a feature where you can see other traders trades. I marked on the below screenshot that the two traders placed $100 & $1000 bets on call. Both expired ITM - they got 87% return on their investment. Proofs that the payouts being manipulated by Expertoption at an individual trader level. This is completely illegal.
    Proof that other traders get 87% payouts_private.png
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  • ClosingbellClosingbell Posts: 63
    Now folks, more to report here. I decided to blow up my account to see what happens if I start losing money. As I expected. Once I start losing money The profitability of the options just returned to 80-91-92%. AVOID EXPERT OPTIONS.
  • Never even heard of these folks, why did u pick them in the first place?
  • ClosingbellClosingbell Posts: 63

    Never even heard of these folks, why did u pick them in the first place?

    They had 92% payout on Bitcoin throughout the weekend. I only get 42-40% through IQoption at the weekend. I just stick with IQoption
  • reaperreaper Posts: 47
    hi closingbell! didn't know that it is possible to trade on weekends before. I thought all markets are closed during that time mostly. am I wrong?
    btw, sorry, just started to learn more about this.
  • ClosingbellClosingbell Posts: 63
    edited November 2016
    reaper said:

    hi closingbell! didn't know that it is possible to trade on weekends before. I thought all markets are closed during that time mostly. am I wrong?
    btw, sorry, just started to learn more about this.

    Hey. Most brokers provide OTC market at the weekend on major currencies. Algorithm generated FX quotes. IQoption used to do that too, but now they have a bitcoin index running at the weekend with 40% payout. The bitcoin market is open 24/7 - open source. But I guess the Bitcoin indexes that brokers list is busted up with some algorithms as prices they display have a spread of circa 15$

    The reason I signed up with ExpertOption is that they paid out 92% at the weekend on the Bitcoin index. But after I tripled my balance they cut the payouts on my account to half. Scammers. I also sent an email to the "regulator" who regulates them, but they didn't even reply. I just stick with the broker I trust. :wink:
  • GuttlerGuttler Posts: 2
    I've just signed up to www.betonfinance.com. It seems really cool! But different, though :-)
  • reaperreaper Posts: 47

    reaper said:

    hi closingbell! didn't know that it is possible to trade on weekends before. I thought all markets are closed during that time mostly. am I wrong?
    btw, sorry, just started to learn more about this.

    Hey. Most brokers provide OTC market at the weekend on major currencies. Algorithm generated FX quotes. IQoption used to do that too, but now they have a bitcoin index running at the weekend with 40% payout. The bitcoin market is open 24/7 - open source. But I guess the Bitcoin indexes that brokers list is busted up with some algorithms as prices they display have a spread of circa 15$

    The reason I signed up with ExpertOption is that they paid out 92% at the weekend on the Bitcoin index. But after I tripled my balance they cut the payouts on my account to half. Scammers. I also sent an email to the "regulator" who regulates them, but they didn't even reply. I just stick with the broker I trust. :wink:
    wow, that was harsh. nothing good can await them in the future with such methods though. sorry for your losses and your time. thanks for explanations too! to be honest, I would have registered with them too, 92% are pretty luring.
  • ClosingbellClosingbell Posts: 63
    This is the may reason I was only prepared to deposit only $50. To test out the platform. Thank god I didnt put in more.
  • fedex1975fedex1975 Posts: 2
    Hello Guys, Don't trust ExpertOption. I'm just a beginner trader and they didn't even pay my withdrawal that I requested. So SCAM !!!!
  • The_Geek_MHThe_Geek_MH Posts: 351 mod
    Well, the name and the fact that it is pretty much an unknown broker is the first sign of scam... that and that it is located in the Grenadines, a nice place to vacation but a bad place to trust your money, and that it claims FMRCC regulation which is that useless Russian based intermediary that is backing some other shady brokers I could mention....
  • raj1994raj1994 Posts: 5
    expert option no scam good broker.iam trading 6 months no proplems.my four withdrawl 19500$ and 7800$ 950$ 50$ successful at this time.attach my proofs join https://goo.gl/XYvPe2 if you choose gold or vip account Priority withdrawal.i am recommended to open vip account.dont choose bonus
    .
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  • crowdedbraincrowdedbrain Posts: 13
    raj1994 said:

    expert option no scam good broker.iam trading 6 months no proplems.my four withdrawl 19500$ and 7800$ 950$ 50$ successful at this time.attach my proofs join https://goo.gl/XYvPe2 if you choose gold or vip account Priority withdrawal.i am recommended to open vip account.dont choose bonus
    .

    Big fan of them, aren't you?

    Why do you guys choose unregulated broker in the first place? It can not be that good, if despite of the constant fear of being scammed you continue to trade with them?
    did you forget to take your meds?
  • raj1994raj1994 Posts: 5
    edited January 11
    i am depsoit only 2500$ open vip account my withdrawl 27000$ more with 6 months any proplem.expert option regulated broker.check https://goo.gl/XYvPe2
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