Is BrokerOfficial Good or Bad?

Investment ForumCategory: Broker QuestionsIs BrokerOfficial Good or Bad?
Albert Hunter asked 5 years ago

Can anybody tell me how was their experience working with Broker Official.

I spoke to them for the first time today and I am thinking if I should activate my account with them or not.

I already have some bad experience trading with and

3 Answers
Moderator Staff answered 5 years ago
Hi Albert,
You should only trade with a licensed and regulated broker. See here:
Try one of the Australian licensed brokers, they are very good and honest.

Laura Belaggio answered 5 years ago
When I signed up with Instant Cash Club they gave me two accounts, one at Broker Official and the other one at OptionBit.
It seems to shady for me, so I will just go trade directly at ETX Capital instead.

krim zone answered 4 years ago
My Mother was conned into depositing $6000 USD , and the then Broker put VERY long term investments? on the money basically 1.5 year investments.
I detected it was a scam of some sort and after watching Wolf of Wallstreet it became evident that these folks are quite similar.
Constantly getting phone calls to invest more money and never seeing a dime in return.
I actually cancelled one of the long term investments (stop/Loss) which was started @ $2000 and had a so called growth of $1600 but recieved the stop/loss value of $300 back into the trading account. I clicked on the “Withdrawal” Button and guess what?.. you can’t withdrawl (What a surprise) this whole experience has been one of a negative, and I would not recommend anyone going into it fullstop.
in fact another broker from another firm pointed us to the website:
which “Apparently” was ment to show legitimate Brokerages and again BO is nowhere to be seen.
I think the Con’s in this Game actually out-weigh the Pro’s in every direction.
Few Tip’s , if you can;t withdrawal , its not likely that you will ever be able to.
The Brokerages in a large percentage of these places control the figgures and therefore can seemingly , legally scam you out of your money. So what Iam saying is, if there is a put on some comodity which expires 12pm next Friday. and it is in the Green at 11pm Friday, Quite possibly it will stay Green until the 12:05pm lose the investment and immediately drop below the margin.
Then you’ll likely get a call from some broker asking for more money and or giving you a sad story about how some poor farmers cows just past away in afghanistan and thats why the investment didn’t work out.
Pay attention to this part of their Terms and Conditions, Remind you of those cassino websites?
11. Broker Official Investment Reward and Bonus Policy
Broker Official offers a number of attractive reward features to its new and returning traders. Cash promotions, bonuses and one-time trading credits rewarded to customers are part of Broker Official’s promotions program. These bonuses are limited time offers and the terms and conditions associated with any bonus rewards are subject to change. Unless stated otherwise on specific promotions the default promotional terms apply to all bonuses as shown below:
Withdrawal of funds which have received additional rewards, bonuses, or promotions, require a trading volume fulfilment of 30, 40 or 50 times the bonus or in the event of a refund bonus 30 times the bonus amount. The trade volume requirement begins upon receipt of the bonus in the traders account. Upon receipt of the bonus, the trading requirement must be fulfilled prior to withdrawing funds from the account. The volume requirement is subject to cancellation should the account balance drop below the minimum amount required to place one (1) trade. The minimum trade is 25 EUR/USD/GBP depending on the currency of your account. Cancelled trades are not counted towards the trading volume
All funds can only be withdrawn when the preceding stipulation has been fully met and fulfilled; this includes the original deposit and all other subsequent deposits. Please note the amount for the requested withdrawal is only deducted from your account balance once the funds have been transferred.
Any indication of fraud, manipulation, cash-back arbitrage, or other forms of deceitful or fraudulent activity based on the provision of the bonus may nullify the account and any and all profits or losses garnered.
in short most of these places will con you into making a depossit and then blantantly lie,cheat and steal your money right from under your nose. Leading you down a dirt track disquised with gold lacings.
they will make numerous trades and pay themselves commissions at your expense and you wont recieve a dime.. “Wolf of Wall Street” ring any bells here?.. well if not , then the bells should be RINGING REALLY LOUD NOW.
Also note that these companies can control the on screen data and likely down to individual users. So for example they may invest all your funds into several alleged comodities.. you think what you see on the screen is actual data , when in fact it is fictional data and the money is likely laundered elsewhere from get-go. you sit there eagerly watching the false data increasing and then bam!.. it suddenly falls just before the investment times up. what a surprise. you seemingly legally just lost your money legitimately. well not so much imo. and because these things were never fully disclosed and such I believe that theres a court case to be had. With alot of real victims in the middle.