Max Options – Scam!!

05 Aug

Is Max Options a scam = Hell Yes!

wolfI went down this to investigate the legitimacy of Max Options and provide feedback if there is really an opportunity to make money with binary options.
The truth is yes you can make allot of money with binary options, but you will never see the money. When I watch the movie “The Wolf of Wall street” I think of Max Options or any other binary options company. Watch it if you have not seen it.

My personal experience with Max Options…

MOPlatformIt all starts with an introduction video that explains how you can make money through trading. Now trading is a legitimate business, but binary options works on a complete different method. You trade on real assets (commodities or currencies), but you don’t physically buy these assets, in reality you place a bet on a asset to predict if the asset will go up or down in a specific time period, which means it is pure gambling, but Max Options don’t explain this to you. They call it trading and a “Call” means it will go up and a “Put” means it will go down, but essentially you are betting and gambling.

How the scam works…

MOeducationMax Options is a company listed in Switzerland with a very nice website, which seems above board with a trading platform and education center with abundant training materials. Once you sign up with a starter account of $250 a broker gives you a call within days to get more money out of you. First they try to gain your trust by asking you about work, your life and your family and kids. I do not know how these people sleep at night. The guy that phoned me was Simon Hammond from the UK. Anyway if you agree and deposit more money they promise you a dedicated broker that can eventually do all the trading on your behalf, but your account need to be $10,000 strong and if you want to opt out in 4 weeks you can. For a start you need to get your account to $2,500 and then they will add $2500 of their own money/investment, which is a load of bull and in reality, is just bonus money. This brings your account to $5000 and now you are ready to make real money and Max Options are ready to leach. The broker sends his details through email including contact numbers and Skype details.

As a beginner your broker tells you what trades (bets) to place over the phone and he can see on your account if you have done it correctly. Because you have no experience you trust him and he congratulates you on your first trades (which expires within 1 day to 2 months) and gets you all exited on making good money in future. After this Max Options, through Michael Keisser, provide you decent “special” training around trading methods and tools you can use to implement educated trades yourself. The trades your broker told you to place then starts expiring as scheduled and in my case all five trades lost, which was a total of around $2,400… basically all MY money. To my mind I lost the “bonus” money and decided to act on the promise that was made in the beginning “If you don’t think it is for you, you’re able to withdraw your money and walk away”… I laugh at this now. When I requested a withdrawal I was told that I can only withdraw $100 because the rest is bonus money, I need to get my account to $5,000 again to make the withdrawal. 

I think this is the main method Max Options’s uses to make money. They let people deposit dollars and then help them lose all of it and there is nothing the client can do. I’m not too clear on the legal side of things, but to my mind at this stage there is nothing you can do, the trades were made by the client (with broker on the phone) and the client lost their own money. Please let me know if I’m wrong in the comments below.

But there is more…

OptionsI did not leave it there, and I decided to try and grow this account to see what would happen. I continued doing my own trades (bets) based on the training and I started to grow the balance. When I got to $3,000 a new broker Gabriel King phoned me and toldWithdrawal me Simon was fired because of complaints including mine, and he will help me make money from now on. So I told him no thanks I’m doing ok on my own making about $60 per day. When I got to $4,000 someone else phoned me to offer a promotion… Deposit $1,000 and get $1,000 bonus… to which I said no thanks, which took allot of convincing. I kept working on my balance and quite quickly got to $5,127.26. At this point I though, withdraw the $2500 and walk away. This is where I got stuck and all communications have been lost. I have made 3 pages worth of withdrawal request that just gets cancelled with no reason. I tried contacting Max Options numerous times through Skype, support on their site or even Facebook trying to get a response on why Max Options are not processing the withdrawal requests and I have heard nothing from them to this day…

Verdict – MaxOtions is a Pure Scam and Fraudulent!!!

What gets me is with initial conversations the employees of Max Options get to know your family and even make you believe they are very religious. In the one conversation with Gabriel King I told him I can’t deposit anymore because my credit card is almost maxed out. He then asked how much is still available before it is maxed?!! They are leaching people dry and I’m not sure how many people they have bankrupted. Worst of all Max Options is still in operation today, scamming more people and I have no idea how to stop this company. Today I still have access to my account but can’t get my money out. Please let me know in the comments below if you know what can be done in order to save hundreds of people thousands of dollars by avoiding Max Options. I’ll follow this up as well.Balance

My 2 Cents…

Max Options is the worst of all scams preying on financially desperate people. Max Options not only steal their clients hard earned dollars, but also keeps them engaged for months, basically steals their time. I have told the following to Gabriel as well on our last phone conversation to which he replied “I won’t be doing all this effort to help you if this was a scam”
I told him – We only have one life and time is precious. Money you can loose and make a plan to survive, but months of time you waisted on watching trades instead of spending with your wife and kids, you can never get back!

Please leave a comment below and stay away from binary option


13 thoughts on “Max Options – Scam!!

  1. 0

    Hi, My name is Javier, thank you for sharing and by that helping others to make inteligent decitions, I had my quote on binary options as well in the past with another broker and the experience was somewhat similar, I didn’t accept any bonus from the beginning and I decided to place 1 dollar “bets” everytime until I felt I really got to know how it all works, but I couldn’t mantain a positive momemtum, it was actually like if I was fished, 2 wins 3 losts.
    Doing my research It turns out that the broker sees where all the money is and he can actually move the price slightly and momentary just enough to profit, At the end my conclusion is that brokers take fromthe little ones to favor the big clients.
    The broker got to a point when he called me and ask me to put all my money in a winning transaction. I said Ok but I didn;t do it, and guess what the transaction was a lost, nver took his calls again.
    Finally I decided to withdraw my money, they comply over 3 months later, but in order to succeed in my requirement I had to file a complaint and copy all mails to the CYSEC,
    In my experience, binary options its hard, I don;t know how you were able to gain back some money, but I consistently lost.
    Hope my experience also help people

    1. 0

      Hi Javier. Thanks for your contribution as well, I’m sure that will add to the prove to stay away from binary options. I have lodge a complaint with CYSEC and now I guess it is a waiting game. Any advise on how to speed up this process would be appreciated. I got this feeling Max Options has gone of the map. Their broker site still active but there are no activity on their FB page or any answer when you call.

  2. 0

    Wow, it makes a person so mad when you get something like this, People who scams others and steal their money. I haven’t had experience with this particular company but I tried a similar one. When I registered my name, they phoned me within 5 minutes. Which was great BUT I told them to send me the details and I will go through it in my own time.
    The next day they phoned me and I repeated my request. They want me to deposit $250 into the account. Luckily they irritated me so much that I unsubscribed without depositing anything.
    I’m so glad I came across this review. We should get the warning out there.
    Very sorry to hear you lost all that money.
    These people should be more than ashamed!

    1. 0

      Well done for avoiding those thieves. What blows my mind is that they still catch people every day and they are still in business. Like I said I think most people loose their money and thats the end of it, but if you are actually making money and they ignore you when it comes to withdrawal id daylight robbery and they should be ashamed while sitting behind bars.
      Thanks for the feedback, much appreciated.

  3. 0

    I day trade in forex and I can completely agree with you about binary options – they are not trading they are a betting platform!
    My trades last for over a week – Options last about 5 minutes to an hour!
    It’s not trading and it has different rules – it’s also extremely difficult to gauge more often than not!
    Great review – thanks for alerting me to this bunch!

    1. 0

      Thanks for the feedback Chris.
      MaxOptions actually called me again yesterday to tell me what trades to make, so they are still in operation.
      I asked the guy why can’t I withdraw my $5000 balance… not his department.
      So they are still catching people

  4. 0

    I doubt if MaxOptions is still operational. My account has been blocked for over 4 months. I get the error message “In order to trade contact your acccount manager Error 4001”. I sent endless emails to that account manager by the name of Robert Muller but no response to date. Three months ago they deducted $100 from my account for inactivity. But then how do I trade if my account is blocked. I hope people become aware and stay away from MaxOptions.
    The last time their social media was active was in July.

    1. 0

      Thanks for the input. They are most definitely still active, I actually got a call from David Anderson (from MaxOptions) on Monday wanting me to place trades.
      Obviously I aggressively raised my point that I’ve been trying to get my Money out for 4 months, but it was not his apartment.
      I’ve written the money off and will probably never hear from them again, but it angers me that they are still in operation ripping people off.

  5. 0

    Betting on commodities seems like a very risky thing to do. Is there ways to do research on each commodity to see if it will rise or fall in that time period? Or are you taking a pure guess at it?

    I get this one is a total scam. Is there a better option to try out binary options?

    1. 0

      Hi Kurtis

      Thanks for the response. You can look ate the trends using the candles and trend lines. But essentially if you get it wrong, you double up until you get it right, like gambling
      I don’t trust any binary options at this stage.

  6. 0

    I don’t get why people fall for these trading scams. I think everyone should buy the book the clever investor and learn how to trade with the stock market. You can actually build long-term wealth trading equity instead of guessing on whether a commodity is going to rise or fall. That is what I do and I think it is much safer and better.

    1. 0

      Thanks for sharing Kurtis. I agree that equity trading is much safer and real trading. The biggest reason people fall for this is desperation and failing to do quick research on binary trading to see it is a no go.

      Other than that the sales guys (brokers) for these scams are very good as well… heartless but good, they will take you for everything you have.

  7. 0

    I have always wanted to try binary options in the future when I have more than enough money to spend. But I keep coming across binary options scams like this one for example and it is so frustrating to see that these companies will literally just take your money away like its nothing! Losing your own money is not a pleasant feeling at all and it is so obnoxious as to how other people are making a LIVING at the expense of others

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