The EZTrader concept of binary options is NOT a scam. I think they have a great web site, and they appear to be a very professional outfit at first glance. Anyone who loses money simply doesn’t understand how to make a profitable trade decision.
My problem with EZTrader is this: deposits from your credit card into your EZTrader account are instantaneous and hassle-free, but withdrawals are slow and stressful.
Although they DID eventually refund my original deposit and pay me my profit, I want to let everyone know that this process took almost two full weeks and required 1 to 2 telephone calls every day to make it happen. This was after I filled out the required paperwork according to their specific instructions, which include:
-Photo copy of Driver’s License
-Photo copy of front and back of credit card
-Bank account number & routing number
After the initial request, they told me it would be three days before they would process the withdrawal. Three days later they told me they hadn’t received the documentation. I ended up emailing the documents 4 times to various email addresses during the first week. When they finally acknowledged receiving my documentation, they kept telling me it would be processed “in a few hours, or tomorrow morning at the latest.” This went on for about 5 days. The standard response to my calls was “Your request is with our Withdrawal Department, so there is nothing more we can do.” When I asked to be put in contact with someone in the Withdrawal Department, they told me it was offsite and there wasn’t a way to contact them other than emailing email@example.com, which never replied to my emails.
I feel that Carolina Gonzolez (Vice Head account manager, firstname.lastname@example.org) gave me the runaround every time I called them. I believe she lied to me to keep buying more time and delay payment.
No reputable broker should treat their customers this way. Do yourself a favor and stay away from Eztrader.