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Expert Option Scam - Cut down payouts and refuse withdrawal

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Just want to share my experience with scam binary option broker Expert Option. When I made profit and wanted to withdraw, Expert Option refused to pay and closed my trading account. They fooled me with a contrived reason, that I violated terms, but also didn't want to return my deposit. Furthermore, Expert Option cut my payouts from 90% down to 40% because I was winning trades.

Expert Option cut payouts

I deposited $255 and increased my account up to $896.27, then I requested $770 withdraw on 30 Aug 2017. On Expert Option page was written that "withdrawal requests are processed within 2 working days". On 12 Sep 2017, I still wasn't received my money.

Expert Option withdrawal issue

I emailed Expert Option for help, but customer support replay was: "Your withdraw case is under review, be patient and you will receive the withdrawal payment".

Then finally on 08 Sep 2017, Expert Option emailed me that my withdrawal request from 30-08-2017 15:07:23 of the amount $770.00 has been declined. The reason was closed account.

Expert Option scam

I asked what was the reason for closing my account, they replied:

Expert Option funds issue

I asked them to provide in details which Terms and conditions were violated, they didn't answer. Furthermore, the issue of my $250 refund continued, Expert Option was lying again. They said they had already paid my deposit back, and the reason for delay is due to my payment method processing speed. As we know, Webmoney payment speed is instant. If Expert Option was really refunded the $255 deposit back to me, my Webmoney account would had showed it in a few minutes. I asked for screenshot proof that Expert Option transferred the money, they didn't reply.

Expert Option big scam

After I threatened them that I will disclose the scam on famous binary option forums, then they changed their attitude and sent reply:

Expert Option warning

I was wondering, if their previous mail "payment on our end is done" was real, why this mail "get conformation from our Finance department", it's obvious by now Expert Option is a scam! Finally on the late 12 Sep, I received my deposit back. I am pretty sure if I didn't threaten them with scam post, they would had delay the refund until I gave up.

The only useful action now is to publish posts in famous binary options forums like this one. Traders must know Expert Option will cut down your payouts to a minimum low if you are a winner and will most probably refuse to refund your initial deposit.

Tianbao Xu