Binary Options Drama *Frustration* | A Pocket Option Review
00:00
Alright, guys David with Binary Masterclass here and just wanted to come on for a minute today and talk about the results of a record withdrawal request from Pocket Option as well as, did that withdrawal request get my account banned.
You may remember that March and April for me were really, really great months of trading, easily my best months of binary options trading to date. I had trouble keeping my account under $100,000. I was making $10,000 to $25,000 every day on my trading. And during those time frames, I requested over $300,000 in withdrawals from Pocket Option. And you may recall that I initially took out withdrawals in the $30,000 range, a few of those, and then I actually went for a withdrawal request for $100,000.
And if you might remember, that withdrawal request came through on the third day, which was Good Friday, for the amount of $100,000 into my crypto wallet. And then we had some drama that resulted in me deciding to take out another large withdrawal of most of what was left of my trading account. I left enough to trade with, but I actually initiated another withdrawal in the amount of $110,000. And I didn’t know because of some other stuff going on if they were going to honor that with request or not. So it’s kind of a tense few days and so typically per the terms of service of Pocket Option they have 72 hours to honor a withdrawal request. They can take up to 14 business days per their terms of service if they have previously notified you that they are going to in fact take longer than the three days. So in my case the three business days came and went and there was no withdrawal, no successful completed withdrawal. It was still pending and there was no notification that they were going to take longer than the three days.
So as you can imagine I got a little nervous and I actually messaged support on day four and said, hey, you know, what’s going on with my withdrawal request? And they got back to me promptly and said, well, we can take up to 14 days, but we’ll get it done as soon as we can. And I know that they were supposed to pre-warn me that they were gonna exceed three days and they didn’t. So technically they were outside of the terms of service, but lo and behold, a few business days later, certainly not the 14, I think it was on business day six or seven during the middle of one of our live morning trading sessions I received an email from my Coinbase account indicating that I was in receipt of Bitcoin totaling the amount of $110,000.
So guys I know there’s videos with other individuals talking about how Pocket Option does not honor withdrawals or large ones. There’s issues I have with the company and with some of the ways that they operate.
03:21
In regards to withdrawals, I have not had an issue getting out any of the money or any of the earnings that I have collected. Now, that being said, we have had issues with some of the accounts of a couple of my family members getting banned. The same time we were taking out this record withdrawal, two of my adult children who trade with me have their accounts banned, their money taken, and they were now restricted from the platform. And the only thing Pocket Options would say is that we were trading with, I was trading with multiple accounts. They said that their account was being blocked because of a multiple account situation on my account.
Pocket Option felt like I was actually the owner of those two accounts even though they were verified in their name. through the KYC know your customer identification and utility bill all of that and the reason why I think that they banned those accounts and a note for you going forward is that during that week my adult children who live in a different residence in the area actually came over and were trading from my home at the same time I was trading. So they’re on the same internet connection trading live with me. And I don’t think that Pocket Option likes that.
05:01
I think that they don’t want multiple people in the same setting taking the same trades. There is a clause in their term of service that technically they can point to, but it is so vague, it can be applied in so many ways. But just as a warning to you, if you have multiple individuals on the same internet connection, be wary that you might get your accounts banned. As far as withdrawals, they’ve come through.
And so because of the account banning, we’re beginning trading more consistently with a second broker as well. I’m going to get into another video in regards to that, a review of the other broker that we are now also trading with in some of our live trading sessions as well. We’re including those in the trading sessions.
There we go on the withdrawals and the account banning. My account is still live. I am still doing some active trading with them. My family members had to move over to a different broker and that’s that.
06:12
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