Real user experience with Citidel, Virtnext and Tauribot

We have already published warning against binary options scams called Citidel, Virtnext and Tauribot. And in discussions under those articles you will find many real testimonials from people who have lost money with these scams.

And one of our readers sent us by e-mail his story with these three systems and it is really interesting, so we are publishing it here in this article as another review and warning.

Real user story

I’ve been playing around with binary options for a very short while now and actually tried to become an active BO trader earlier this week; unfortunately trying to use auto-traders.

After doing (what I thought was) due diligence investigation and following the rave reviews from the “respected” Michael Freeman and, I signed up to CitidelLTD, VirtNext and TauriBot and found the following.

The first very obvious observation is that they all have the same Web interface for their apps, with the exception of “theme” differences. All the apps have issues with the user’s trading currency (GBP instead of USD in my case), the time displays are gibberish and the dates of trade execution and trade charts are wrong. All the apps auto-assign you to a random broker. After signing up with the broker, all the confirmation emails also look exactly the same. None of them have any kind of getting started guides or live chat sections. Contacting their customer support is also useless, as they refer you to the broker to sort out any kind of app issues. Needless to say, the brokers don’t have an idea what you are talking about or how to fix the issues.

Let’s start with CitidelLTD. The broker in question was Binary Brokerz, whom I have honestly never heard of before. As per normal the account manager haunted me with sales calls to the point of madness, until I paid the minimum $250 deposit obviously. After the account was finally verified and activated, I started trading, auto-trading that is. The first observation was that the app is obviously not an auto-trader as we know in the forex world (MetaTrader 4 auto-traders). Your browser has to be open all the time and if you don’t refresh the page or click the dashboard button again, nothing happens. When the auto-trader starts, it picks a random currency pair and (seemingly to me) tosses a coin on whether to call or put. In most cases it was blatantly obvious looking at the charts that the calls were wrong. Needless to say, I lost 5 of the 8 auto-trades started. And 2 of the ITM’s wre literally by hook and by crook in the dying seconds of the trade. $95.50 down the drain. After contacting CitidelLTD, I was told that I can expect to lose more than 50% trades if I make less than 20 trades, but this should rocket up to the claimed 80%+ with increased trades. Yeah right…

Next came VirtNext. I was auto-assigned to Banc de Binary. This is where it gets interesting. The BdB account manager had no idea about the VirtNext/BdB connection and was basically on his way to start with the usual sales pitches about their own trading signals and 1-on-1 trading sessions. When I stopped him in the middle of his pitch to ask him to please just activate my account so I can start my VirtNext auto-trading, he told me in no uncertain terms that I should take my business elsewhere as he does not wish to do business with someone who trades using robots. That was the end of that… I am now waiting for my BdB account to be verified and hopefully get my deposit back.

But wait, there’s more. The clincher! TauriBot. Again the same process as before, the same Web interface and confirmation emails. This time I was assigned to Option500. This is where the plot thickens. I received the call from the Option500 account manager, a certain Dr Samuel Rasidi. I immediately inquired as to why all 3 apps share the same Web interface. He put me on hold for “someone who can answer your technical question”. I then spoke to an Indian gentleman who explained in broken English what the deal was. According to him, all 3 Websites belong to them, them being Option500. With previous Michael Freeman and WatchDog posts in mind, I proceeded to ask whether they had any connection to He confirmed this fact and furthermore stated that they have a “monopoly” on binary robots and that they just outsource the client accounts to other randomly picked brokers. A final word on TauriBot is that the institution in question, Chicago University, does not actually exist (according to Google searches etc). The closest I could get was University of Chicago. The similarities in the actual university and the claimed university is obvious, even the color schemes were copied.

All of this I found out within 48 hours…

So my verdict: VirtNext = CitidelLTD = TauriBot = BinaryOptionRobot = Option500. One BIG scam!

I contacted Michael Freeman and WatchDog by email with no reply. The conclusion I came up with was that they (if it’s not actually the same person) were either reluctant to withdraw their rave reviews, or are in on the whole thing.

18 thoughts on “Real user experience with Citidel, Virtnext and Tauribot

  1. Thank you all for your inputs and feedback.
    I must admit I was about to fall for the captivating idea of easy money through a robot. Obviously, after reading your comments have changed my mind. I’ll study, simulate and then try trading starting small.
    Thank you again everyone.

  2. I agree with the fact that all the autotraders around just don’t make money. I first tried Cash Camp but gave up after 1 ITM and 7 OTM within the first 8 trades. After I withdrew my remaining funds from the assigned broker (BdB), I received a phone call from Cash Camp pleading for me to give them another go. I told them where to go.

    Next I tried Citidel after the glowing Watchdog review, it placed 24 trades on autopilot, winning 10 and losing 14. Also I never got a reply to my email enquiring about getting a ticket to the Dr Grifley’s seminars. So again I pulled the plug, requesting the withdrawal of my remaining funds from the assigned broker (Binary Brokerz) 6 weeks ago, but as of today they still haven’t paid me my remaining balance. In summary a scam signal service teaming up with a scam broker.

    My last efforts are Binadroid and Option Robot. At least these allow you to pick your broker. Binadroid is currently 50% ITM after 34 trades, so more coin flip software. I only manually trade with Option Robot, I use it as a confirmation tool for my own trading. I just don’t trust robots.

  3. I tried virtnext – it started off remarkably good – then lost 3/4 of my account in a day – I thought as only 1/4 was left I would just leave it on and it turned around and almost doubled my account!! before heading back to hell with a bunch of loosing trades. Loosing all of my winnings and some of my own money. I turnedit off for a while then retried some time later – weeks…the system started opening trades when auto trader was turned OFF!!!! – and they weren’t even winning trades that I could almost forgive then for!!! I closed my account before it would do any further damage! The software has bugs – customer service do not reply. I highlighted this problem to forums but none posted any – obviously working their affiliate commissions were more important. Next one was Turibot – I funded account but had second thoughts after reading somewhere obscure that someone had problems and sent the help team a query who responded honestly that their results were based on how many hundreds of trades made!! so I would basically risk rinsing many accounts before I reach that stage or risk a very high balance to cope with this? – I closed my account. Citidel – one site on the web I found actually calls this product a fraud and says the site steals personal data info. from people – that was enough for me to steer clear. May I also add I tried the highly acclaimed copy buffett software – this one seemed more stable but nothing like they advertised,,, I was getting a max of 3 trades per day – 2 wins and always one loss – the system hedged trades so when one went into trouble it opened another to counter it – normally in opposite direction – so one would lose – then it opened a 3rd trade to help make up the money – normally a winning trade to counter the other two… – 1 loss 2 wins was not equating to much profit at all … the last day I tried it – it lost all 3 trades. The forums are only posting positive reviews to get more people to sign up… the main review sites are linked to each other. They do highlight scams and good on them for that – but their recommended systems aren’t as clear cut successful as they’re making them out to be – and can be fatal on a small account – I think that’s pretty irresponsible personally.

  4. Please anybody can you share here the good strategy in binary trading or any helpful websites get the trends of currency in real time of for tomorrow etc……..

  5. Dear Admin,

    This website is amazing because the information/reviews are posted here will help a lot of people like me. Until now I was thinking that binary option watch dog and these so called automated systems ware real but you save me…. hats off your reviews keep doing good work you will be rewarded one day.

  6. Hi…I’m an follower of watchdog site….since read your post I lost my confidence with them…I feel cheated…can someone who had lost with citidel, tauribot or virtnext post their account summary in this blog…I really wants to shoot that watchdog…I can show them how many trades u guys lost and this can restrict others to join them..coz watchdog has lot of followers.thanks

  7. Hi! I have been trading binary options for little over a year now and and have been scammed by Michael Freeman before when searching for legitimate groups to be part of. I have been trading with Julian Wong’s Binary lab and he is the real deal, further if you really want excellent trading advice and knowledge his Advanced MasterClass the Ouroboros Trading Group is amazing and here you truly learn how to read the markets and the indicators and when to trade and when not to trade. I paid $5000 to be part of the group, but you can now join their Nautilus Group for free. just search Youtube and you should get a link on how to join. A good Broker to use is or CTOption.

  8. Hello
    I got scammed for small amounts by both Centument and Tauribot. My responsibility. BUT!!!
    As a previously licensed stock and commodities broker in the US, I’m still interested. I’m gonna learn and work this ‘binary options’ market. However, there is one huge reason it’s hard to
    Make money doing this. Quite simply, when trading binaries, you are trading ‘against the house’…just like gambling in Vegas. I thought originally I would be trading against other traders like myself. And you are, BUT, and it’s a big but, your also trading directly against your so-called “broker”. Remember Vegas? The house always wins. What a bunch of scammers! The only broker I’ve personally found that doesn’t trade directly against their own customers is Nadex. They are an actual trade exchange, but their site is much more complicated if you have no experience. Does anyone know a genuinely HONEST binary option broker? Thanks

  9. I agree.. they all seem very suspicious. I signed up to Tauribot to test the system. Upon login it asked me to fund my broker account with Glenridge Capital. I decided to review Glenridge Capital terms of service and found the following:

    “18. Automated and Semi-Automated Trading Mechanisms

    18.1 We, at Glenridge Capital, strictly prohibit the use of automatic or semi-automatic trading mechanisms such as external bots and automated traders developed in order to assist you with your trade.

    18.2 If you integrate an automated or semi-automated device on the Glenridge Capital browser or platform in lieu of your personal interaction or utilize a backdoor API; we will consider your activity system abuse and we will nullify your position or cancel your account with Glenridge Capital.”

    After reading ToS I decided it was not in my best interest to make a deposit and trade with this system.

    I later decided to review the other blogs on the VirtNext platform, all of whom gave high praises as well. I decided to signup and realized that the interface was exactly the same, only the color scheme was different. This piqued my curiosity and so I decided to do a little poking around.

    Both platforms use the same DNS address. resolves to resolves to

    The IP address belongs to a small hosting company called Contabo in Germany.

    org-name: Contabo GmbH
    org-type: LIR
    address: Contabo GmbH
    address: Aschauer Strasse 32a
    address: 81549
    address: Munchen
    address: GERMANY

    Using some free tools I was able to find examples of other sites resolving to the same IP address.

    If I had to guess I would say these platforms look like sophisticated lead generation systems designed for the sole purpose of generating revenue from user deposits.


  10. Hi there,
    Been a college graduate from the University of Mexico (Universidad Autonoma de Mexico) I’m familiar with universities. Decided to do a research knowing the paths and after searching in the different sites of the University of Chicago and NOY CHicago University I found that there is a Shocool of Business and not an econometrics department… went to the staff and assistants to professors tab and check the list of all the professors…. none of them were Steven Archer. In a further search by name I found Dr. Stephen Archer….. he’s a well known and respectable CARDIOLOGIST Here’s the link if I may post it:

    I was about to sign up with them but after reading your review I became very suspicious and decided to search at the University of Chicago.

    Thanks for your honesty reviews…. and you are right, The only way to be profitable is to study, read charts and demo a lot. Besides, there is no need to make hundreds of trades, just 3-5 very good set ups will be very profitable

    William (not my real name) from Mexico

  11. How come Michael Freeman is out in the open and no authorities are going after him? How about those “fake” interviews and actors? No one cares?

  12. So many scams out there. Including almost all of the “review” websites and Youtube channels. You can trust hardly anyone in the BO world.

  13. Hi, I would like to thank you for your reviews. Your reviews really do help people not to get caught up in all the scams out there.

  14. Do you recommend any auto trading platforms? I lost $250 with Tauribot in a few hours based on the review of Watchdog. When I went on the site and explained what had happened, my post was removed.

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