Hi, I will give short summary of my adventure/nightmare with 24option.Original FPA Traders Court Submission by hailg:
first deposited £1000, and lauren was my account manager. traded my self for a bit and was not doing well. she convinced to me to have 'recovery' session. looked like she tried her best to wipe my account. i stopped listening to her in session when balance dropped to £200-300. then she said i hate quitters. if you want to trade seriously, then deposit more. you need 6 recovery steps! (which is that martingale casino garbage strategy they teach).
so i went to their parent company site - rodelor limited and made official complaint. complaints guy from 24 option rang me and agreed to refund me the money.
then the real STUPID PART. i contacted 24option and said i will only invest again if they give me a proper account manager. so they said they will give me the 3rd top trader in company, joseph williams. i deposited £10k, then after being convinced by him to deposit more as its safer, i deposited more until balance was something like £25k. i was able to push that up to £32000 using their mad martingale strategy, of doubling up when you lose and trading 1 minute charts(now looking back this was insane, like playing a pin ball machine). then when I asked him for help on phone, he asked me to take some trades and they lost, my balance dropped to £600. then another stupid thing, he convinced me to deposit any spare cash i have, which was £8k, then he matched it with another £8k company bonus, to make it £16k. so the very next day I started trading again, and end of the day, account blown, with joseph on the phone . account blown 2 days in a row lol. and these guys still teach that martingale nonsense.
so i did all i could do, complain to Rodelor limited again this time complaints guy from 24, got back to me and said this is your second complaint against us, we will give you half your money back as good will gesture. gave me back £16000.
then few days later i got email from rodelor, risk department. said i am too much of a risk and i can no longer trade with 24 option. account closed. haha. they made me sign 2 agreements for each complaint.
i hope they get banned from UK. their website has training content that says only risk 5-30% of your account balance. something like that. so why are they teaching clients to basically risk 100%!!!