VIP Binary
Complaint 204296 Details

I have deposited a total of $15000 in VIPBINARY.com and lost it all! At first, I deposited $1000 just to try out Binary Options by myself! I was contacted by Andrew Fox who said he was my account manager and advised me that if I put $5000 more, the company will put $5000 (100%) of their own, called as a SECURE TRADE. This way, I could become a GOLD member and then he can help me with company's $5000 (as a secure trade) to trade advising me with what to trade and when to trade and when to get out with a large profit. If it becomes a losing trade, I don't lose; the company loses because it is a secure trade. I did deposit $5000. After few big trades($3000 to $4000 in each Trade), he lost that $5000! He said if I put another $5000, as a SECURE TRADE again, I would certainly double that and recover all losses! Foolishly, I did put another $5000! This time, he invested not just $5000 as a secure trade, but he invested $8000 out of my own money; and ended up losing them all! Another so called supervisor tried to entice me several times to do the very same thing with more deposits as a secure trade, all the while scolding Andrew that he was not qualified to trade like this way; but that's where I stopped. Now, I am left with $4400 in the account but that I cannot withdraw a cent, due to their policy (you have to read their policy: every dollar they lose, I have to make $15 profit to withdraw a single dollar, how am I going to make that profit?). Essentially, I lost all $15000. All this happened in a span of just two weeks in Oct. 2012!! In my nightmare, I learnt a sad lesson; but I don't want anyone else to repeat it, this is the purpose of this post!! Please stay away from VIPBinary and this type of scam artists!