So you agree you are gambling with clients money and not investing as you compare this with roulette. Better close your business or inform clients clearly that it is a casino and not an investment/brokerage firm and no guaranteed profits.
If you expect to deny that binary options are not some sort of gambling, I cannot do that. It is pure gambling as your optoin is to rely on chances! That's why I overreacted when I read how much money you have put there, risked everything, accumulated over 100% profit and didn't request a withdrawal. If it was refused to be processed by the company, I would have voted differently. You just failed yourself that if you request a withdrawal, you will lose which is some sort of deception. Prove that you have really been scammed by this company and I can always change my vote. Evidence uploaded are enough to vote in favour of company because I receive calls like you, at least 10 per day, with requests to make immediate deposit worth $5,000. Firstly, I cannot risk so much money and secondly, if I could afford such risk, I wouldn't choose to gamble them. There are lots of ways to invest wisely even $5,000 and earn a nice interest, as profit here is guaranteed! By buying an option, you just insure youself against harsh market movements but what we are talking about is called "binary options" and it is a derivative of normal bank options. It means that the risk for you doubles! You cannot expect profits when the risk is so high. The only chance to succeed is to decrease the risk, something that you have missed by relying on strangers, claiming that they work for certain company. How you could be so sure that they really work there?!
Are you afraid of potential charges against brokers. All such firms should be closed, who are not responsible, else their duty is to just cheat. Yes, my wrong prediction is to trust their lovely words (VIP accounts blah blah...).
Yes, unfortunately such firms will still play with clients money. But if FPA categorizes it as scam firm, atleast we can save majority. I will just do my best to pass this message.
Naveen, FPA has already sent so many good and financially stable forex brokers to the scam thread for no reason. I can quote at least 3 which are not involved in any scam but were classified as scam because some clients think that brokers are responsible for their loss even when clients are not familiar with financial markets and don't read what brokers offer (or insist on) in their Public agreements or Terms&conditions. Clients are always compaining from requoting or slippage but don't understand that evey technical system has its good and bad sides. That's why there're thousands of forex brokers...
I've also experienced too many problems with forex brokers but I haven't opened cases against them because I have previously read and understood their terms. Moreover, I have agreed to trade with them. Recently, I was scammed by a binary options broker and I had the right to argue with them so I opened a case against them. Since voting was again in my favour, the case was closed but still there are many cases against them comming every month. Believe me, even you ask them whether the case published here is a true one, companies will always tell you that FPA is a criminal website OR they have paid for this black PR OR any other excuse to make you deposit with them. If they don't, another company will take their profit.
A week ago, a person called me and start explaining how profitable he was, then asked me to make a deposit with his company. I completely refused to make any deposit and he even started to yell at me. My reaction was obvious, just ring off!
Instead of asking for a bonus, you should do the same even before the person from the company ask you to lie your bank to raise your limits. At least, this is very essential lesson for you and all FPA members. Companies become more aggresive when it comes to stealing competitors' money, they will offer you incredible amount of bonuses to withdraw from their competitors and put your money to them. But who knows who is a scammer nowadays. I was
aghast to know that one of the biggest forex brokers scammed so many people (IronFx). And they have been sponsoring FC Barcelona for a very long time...they really benefited from this PR action! It is sad.
Better luck next time...
