24 Option Scam

william simpson

Recruit
Messages
2
I have embedded videos into the bottom of this post

24option is a complete and utter sham broker once you become profitable on a consistent basis first of they will start to stall the entries of your trades from anywhere from 10 to 20 seconds making sure that you get a worse price upon entry to give you a disadvantage.

Once this has failed they will start to insert a spread with some kind of software or robot that they have on every trade you take this will start of at 4 points and if you continue profit doing this this will increase from 15 points (1.5pips) to 30points ( 3 pips).

I have submitted a case which I have give video evidence of both these complaints.

I have been trading a large account on behalf of a client since july where we have been consistently profitable every month till last month when they actually banned us from trading on the platform because we where profitable our account Username is: Festivalinvest

Our complaints where not handled at all we where simple told that our account was blocked and that we where no longer accepted to trade on the platform.

We asked 24option to return and cancel the trades that they had cheated us out on showing them the video evidence they simply kicked us of the platform.

My clients lawyers are now in the process of taking legal action against 24option and we are lodging complaints with Cysec, FCA and other regultory bodies in europe.

They are clearly a scam broker and do not allow traders to profit on their platform the advertising that they put out saying they have a 0 spread is complete rubbish as we have many videos showing exactly how they cheat traders when they become profitable.

And the fact that they did not deal with our complaints and simply blocked us from trading on their site clearly shows that this company is a scam and a bucket shop.

I hope that FPA takes our complaint seriously and moves towards giving 24option a scam rating hence to help vulnerable traders from losing their money to these gangsters.

I would love to hear comments from 24option on these matters
 
hi,

approaching more than those EU regulatory bodies where this broker is registerd won´t make too much sense as they simply lack jurisdiction. I have talked to two of them last summer and this is correct.

Ombudsman proceedings in those countries where this broker is registered could be checked before filing a lawsuit wherever the proper venue might be, but there two potential issues here with this here: One is the question if your client is really a "consumer" if he trades through a third person, the other one is the amount in dispute. Generally, this type of mediation in the EU is limited to Euro 50.000,- and higher amounts can only be recommended to be paid.

The Cy. ombudsman law from 2010 which resembles those in force in any other EU country can be found on its institution´s homepage and it should really be read before one proceeds.

best lz
 
Hey thanks for the reply.


We are actually an investment company we have lawyers that specialize in this.

What we want to do here is show other traders out there that 24option are a complete
scam and do not allow profitable traders on there platform they will do whatever they
can to insure that you lose your funds.

And when that fails they will block
 
At last I found some others who have the same experience! I had the same problems with another Techfinancials platform. Am I allowed to say which one in this thread?
I sent so many emails, so many calls to have it removed! They are a joke. I am with you to inform everyone out there.
They simply do not want successful traders! I was getting up to 12 points spread.
Another thing it except stalling it was like if the market was moving in your favour it was saying "Price has changed. Try again" But when moving against you no problem!!
 
Are these Brokers really regulated, which country authority’s had provided them a license ?
Otherwise it will be hard to find them....
 
I asked and learned about their regulation. They are CySec regulated. What does that regulation mean? It means that if you withdraw money you are protected up to 20 000 Euros. Assuming you are profitable of course. The regulation does not protect about these kind of frauds or any conflict of interest. Basically it's you against their platform which "changes" according to who you are. So if you know what you are doing the platform will "adapt" to you so you will stop making profit.
 
24option belongs to Rodeler which is regulated by CySec.
Rodeler Limited
But trust me CySec regulation in Binary Options is nothing else but a guarantee that in case you withdraw money you will get it. Up to 20K
You all have to keep in mind that it is a non-conflict of interest broker the best solution. I have tried a lot so far. Keep away from 24option
 
https://www.osc.gov.on.ca/en/Investors_wl_20140403_rodeler-limited.htm

Rodeler Limited doing business as 24option.com, 24fx.com, zoneoptions.com, grandoption.com and binaryoption-affiliate.com is not registered in Ontario, Canada to engage in the business of (i) trading in securities or (ii) advising anyone with respect to investing in, buying or selling securities.

I guess they are not wellcome in canada..........since on their warning list........wonder why
 
There are several warning letters of this type not only from Canada but also from Belgium or for particular brokers even from the BVI. Essentially they warn against any Cyprus based broker. Many of them at least claim that they refuse U.S. and Canadian residents as customers and sometimes from exactly one more country as well.

If you look up Rodeler in the Cyprian Commercial registry all you get are three Greek names of probably shadow directors and a mail-forwarding company as secretary.

On the other hand you have at least an address for the purpose of serving court records and at least one place whose institutions can not simply deny jurisdiction though most of will have to be done in Greek if you leave the CySEC and ombudsman stage behind.

Regarding this public security fund mentioned above this requires that the broker becomes insolvent but fraudsters do not file for insolvency they just move to the next fake entity in a different place.

But going back to the inital posting: What is the evidence (if any)?

best lz.
 
Back
Top