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Is my broker obligated to pay me?

Discussion in 'BlackHat Lounge' started by questionmarkjoey, Feb 6, 2015.

  1. questionmarkjoey

    questionmarkjoey Registered Member

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    First off, I know this really doesn't have that much to do with internet marketing. And it's kind of out of the ordinary, so I do apologize.

    I recently started trading with a specific broker which I don't think I'm allowed to name here, because I don't want to step on any toes.

    I started with $200, lost down to $40, then over the past four days I went from $40 to $16200.

    A couple things I know:

    1. I wasn't being set up to win, the charts are the same on ThinkOrSwim
    2. They don't have any bad reviews, but the good reviews are obviously written by affiliates.
    3. They were founded in 2014. Located in London.
    4. I went to go trade tonight to end the week, (markets close late tomorrow for the weekend), and my charts are messed up. Whenever I go to click call or put, the chart drastically changes and I cannot make an accurate trade. It is only my account doing this, as I made a demo account and had no issues.

    I want to know if anyone has had experience trading Binary Options. Are they obligated to pay me out? If they don't, is there anything I can do legally?

    I mean, it's $16k of my own hard earned cash. I'm 20 years old, so this is a lot of money for me. I earned 10k yesterday alone.

    Please advise.

    Cheers.
     
  2. questionmarkjoey

    questionmarkjoey Registered Member

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    On top of that I have friends who use this same broker and have had no issues getting paid out. However they did not make nearly as much money.
     
  3. bonzo90

    bonzo90 Jr. VIP Jr. VIP Premium Member

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    Should be fine then if they've been paid out too? Unless they are all part of some elaborate way to scam you out your money! Well done on your wins, check it out tomorrow and ring your guy ASAP!
     
  4. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Being legally obligated to pay is fine but doesn't mean they will.
    Legally you can take them to court but if they are a scam outfit/boiler room type set up, then it will be hard to recover anything.
    They may appear to be based in London but it doesn't mean they are.
    Who are they regulated by?
    http://scambroker.com/binary-option-regulators-by-country/
    Chances are that you will be fine but do some research on the company and it's address.
     
  5. tony_d

    tony_d Elite Member

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    So just withdraw your money, and use a different broker...

    If your current broker is actually based in London, then you won't have a problem.