I decided to try Binary trading after viewing a slick add by John Callaghan’s Binaryapp-810 that he represents as “The Insider”. His program basically indicates, that by opening an account with various pop up brokers on his site, you can follow his program by simply choosing red or green boxes that are automatically displayed with his software, and that you will win constantly, due to his programming. You are directed to choose the larger boxes to have the best chance of winning each trade. He suggests you open an account with several brokers to have even better odds as they also may have different time frames and more chances to trade. His program did work on the first few days and then I started noticing more frequent losers than winners. I stopped trading after my account, including the bonus match the broker gave me, got back to break even. There were far to many losers after choosing only the larger boxes, which he represented were the best chance of trading successfully. His communication regarding the program was extremely poor when you reached out with a question. Royal-Binary.com was the company he referred me to on the night I signed up. They were professional at first and of course made it easy to open an account with your credit card and a required deposit of $500 which they matched as “bonus”. What Royal-Binary.com or John Callaghan does not tell you is that you will be required to trade volume of 20 to 50 times the $500 you deposited before they will return your deposit. They claim it is buried in the rules when you opened your account, though they certainly don’t advise you of this when you open your account. So despite the fact you never used your deposit for trading or the bonus they advanced, since I only used profits I made in the first week, they will not refund your deposit when you want to close the account. In addition they will string you along and act like they are going to refund your deposit trying to get past the 60 day window that credit card companies use to allow disputes and then advise you that there will be no refund unless you trade the high volume they require. My analysis was that by the time that volume was traded based on the results I was getting you would have exhausted your deposit in commisions long before you would be entitled to a refund or your deposit.
This complaint and/or review was posted on HolySmoke.org on 00:59 am, January 22, 2018 (CST) and is a permanent record located at: https://www.holysmoke.org/scam/south-pacific-investment-ltd-review/.
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