Is it normal for a broker to ask for a credit card on the phone? | Forex Factory

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Is it normal for a broker to ask for a credit card on the phone?

  • #1
  • First Post: Edited Sep 26, 2018 2:55am Jan 3, 2017 3:22am | Edited Sep 26, 2018 2:55am
So I recently signed up on 24Options, they madly spam you calls even at the midnight, their marketing strategy are so aggressive, and you shouldn't consider passing out your phone number, after I picked up the phone, he just keep repeating you must deposit today, or I will close your account, and ask me for credit card detail over the phone, I didn't have the phone calls record which I should install some apps on my android later, but I don't think I have similar chances again.

Is this normal? They want your Credit Card over the phone! Not on web!
I give up on them, I will find other broker, anyone of you has a recommended binary options broker?
I'm aware of Google Top 10s, but they are consider not responsible review, most likely fake review to generate leads.

IqOption Bonus
Odd numbers are odd.
  • #2
  • Jan 3, 2017 5:54am Jan 3, 2017 5:54am
24Option sound completely rubbish.

Personally, I don't trade Binary Options as I have a hard enough time picking the right direction without the added complexity of limited time frame. But, If I did I would go with IG who I've traded FX with before. They're probably one of the more honest bucket shops, and without the aggressive sales phone annoying.
  • #3
  • Jan 3, 2017 6:54am Jan 3, 2017 6:54am
Strange, it looks like they just want your money and then will push you trade more and more .. good to know.
  • #4
  • Jan 5, 2017 5:41am Jan 5, 2017 5:41am
No, asking for confidential information like that over the phone is definitely not normal. Depending on where you are it might not be legal either. You should also keep in mind that 24Options was banned from operating in France by the French regulator AMF earlier this year for not complying with professional obligations. Be careful when working with them.
  • #5
  • Jan 5, 2017 6:38am Jan 5, 2017 6:38am
hmm sounds weard. thx for sharing!
  • #6
  • Jan 6, 2017 11:09am Jan 6, 2017 11:09am
Quoting rapidace
So I recently signed up on 24Options, they madly spam you calls even at the midnight, their marketing strategy are so aggressive, and you shouldn't consider passing out your phone number, after I picked up the phone, he just keep repeating you must deposit today, or I will close your account, and ask me for credit card detail over the phone, I didn't have the phone calls record which I should install some apps on my android later, but I don't think I have similar chances again. Is this normal? They want your Credit Card over the phone! Not on web!...

Have you tried to make a formal request to remove you from their cold call list? This should work I'm almost sure.
Or during the next call make a request to remove you from their database, make a record of this call and in case of further calls from their side you can file a case to the court for unsolicited offers or something like that.
  • #7
  • Jan 9, 2017 4:07am Jan 9, 2017 4:07am
Quoting leebsurag
{quote} Have you tried to make a formal request to remove you from their cold call list? This should work I'm almost sure. Or during the next call make a request to remove you from their database, make a record of this call and in case of further calls from their side you can file a case to the court for unsolicited offers or something like that.
I didn't request but they still madly spam call me every single day even tho he said "I will close your account by Friday if you don't make a deposit" these guys are crazy.

So do you think I should? Record the phone? They wasted 30min of my time and soon he asked what card I'm using, I told him Debit card and he's pissed off.
Odd numbers are odd.
  • #8
  • Jan 9, 2017 7:12pm Jan 9, 2017 7:12pm
You could just block the number and not take the calls. I made the mistake of giving a Cypriot forex broker my phone number once. NEVER AGAIN! But my phone at least tells me that a call is coming from Cyprus and I just don't take it. I mean I don't have that many Cypriot friends calling me hehehe.
  • #9
  • Jan 10, 2017 12:49pm Jan 10, 2017 12:49pm
In my opinion giving credit card details over the phone to any one can be really very vulnerable.
  • #10
  • Feb 15, 2017 2:09am Feb 15, 2017 2:09am
Quoting vinnytrades
You could just block the number and not take the calls. I made the mistake of giving a Cypriot forex broker my phone number once. NEVER AGAIN! But my phone at least tells me that a call is coming from Cyprus and I just don't take it. I mean I don't have that many Cypriot friends calling me hehehe.
I did use an apps to block their incoming calls numbers, about 6 of them, yes 6 of them.
But they turn, and use "Unknown" or hidden number, which they are very wise to HAUNT you with calls.
And you can't block them. Seriously, I don't recommend broker which, "Comes join the lucky club"
Odd numbers are odd.
  • #11
  • Jun 15, 2017 6:15am Jun 15, 2017 6:15am
More news about the 24Option broker that you asked about – New Zealand’s regulator, the Financial Markets Authority (FMA) recently also issued a warning against them. Apart from the FMA and the French AMF which banned them, the Belgium FSMA has also issued a warning against them and Israel forced them to close their call center, while Russia denied them a license.

Frankly, they've accumulated quite the unsavory reputation by now.
  • #12
  • Jun 18, 2017 4:10pm Jun 18, 2017 4:10pm
Quoting rapidace
So I recently signed up on 24Options, they madly spam you calls even at the midnight, their marketing strategy are so aggressive, and you shouldn't consider passing out your phone number, after I picked up the phone, he just keep repeating you must deposit today, or I will close your account, and ask me for credit card detail over the phone, I didn't have the phone calls record which I should install some apps on my android later, but I don't think I have similar chances again. Is this normal? They want your Credit Card over the phone! Not on web!...
Its possible only to provide card number (for verification purposes), but if they also ask for pin and other data, then its warning signal and the case worth to go straight to the police.
  • #13
  • Last Post: Jun 22, 2017 4:20am Jun 22, 2017 4:20am
Never went through such situation, so don’t know but I feel it’s not exactly right. I will never be keen to do that because you can’t trust any random company like that. So unless the broker is truly reliable and there is genuine need of it, I will not want to give it.
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