Original FPA Traders Court Submission:
I am submitting the case against: No1options.com
My Case is:
Hi, I dipped my toe into binary options trading depositing $100 via Signals Binary site in Nov 2015.. within an hour of depositing this, No1 options broker Gabriel Davidson contacted me with a deal saying it was a risk free trade I needed in the end $1000 deposit, Gabriel encouraged me to borrow it on my overdraft etc as he said I could pay it back in a few weeks as deal was risk free. Against my better judgement I took myself to my limit and deposited $1010 in my No1 options account thinking I would get it back in a few weeks and could spare it till then.... Around that time I deposited the amount and placed the long term trade (which incidentally was 4 weeks.. longer than my understanding of a few weeks! .) I noticed $500 was deposited into my No1 account, having not read there terms and conditions at this point, I thought I would just leave it there and tell them I didn't want it when the time arose to deal with it... Fast forward to 4 weeks later my deal lost and was expecting money to be deposited back into my account.. This did not happen so I contacted original broker and he intimated that the money would be deposited back to my account and would contact me later that day to arrange withdrawal etc..I do actually have an email from him saying
" ...we are willing to offer you an insured trade today on the EUR,
Deposit another 1K and get the safe trade,
In case of lose we will refund you the money back to your account ."
He never rang back and when I finally got hold of someone in the company in January to find out what happened was past from pillar to post having been told Gabriel had left the company.. Finally was assigned to Dave Rosenberg to sort the matter out... In the end what he offered me was to invest more money for him to invest on my behalf to get my money back this way... Not happy with this and he would not answer my emails.. Did all the suggestions on your Forex Traders court emailing Dave Rosenberg and telling him what action I will be taking and where I would be reporting them if matter wasn't sorted out (have already filed a complaint with CySEC as a non regulated body.. not sure if correct place?) on 3rd email I got a reply,,,,saying that only way for him to help is for me to invest more money as way of getting round the terms and conditions...
As soon as I was aware of their bonus terms and condtions and what was going on a sent a message to say I did not, have not and will not accept any bonuses from them.. this was obviously after they had paid one into my account... Their terms and conditions are rather ambiguous as they don't state a timescale for refusing bonuses.. and I feel it was very sneaky of them to pay one straight into my No1 account exactly 31mins after I deposited the $1010 before I would even get a chance to read the terms and conditions. further more when the trade I "lost" on was paid back into my No1 account it was paid back as a "bonus" too... there terms and conditions say ....."
13. Bonus
No1Options provides attractive rewards features to its new and regular clients. Bonuses and one time trading credits are part of No1Options promotions program. These bonuses are limited by conditions, any bonuses are subject to change.
In order to be able to withdraw after taking a bonus customer will have to reach his trading volume requirement.The formula is as follows: [(Deposit+Bonus)*20]. So, for example if the customer invested $5,000 and took a $5,000 bonus his volume requirement will be: [($5000+$5000)*20= $200,000] which means that the customer will have to generate a trading volume of $200,000 in order to be able to withdraw funds from his account.
In addition, the formula is adjustable- when a customer adds funds to the account the required trading volume grows.
Any amount of money can be withdrawn only when the foregoing stipulation has been fully respected and fulfilled. Any withdrawal of funds from an account made before completing the terms of bonus will be immediately canceled and removed from the account. The bonus will be given to all traders automatically (unless the client has specifically asked NOT to receive a bonus), upon signing on this form you have agreed to the bonus terms and conditions as posted above and there will be no need to sign any alternative document. Any indication of fraud, manipulation, cash back arbitrage or other forms of deceptive or fraudulent activity based on the provision of the bonus will invalidate the account and any profits or losses collected."
I feel that my deal was placed with Gabriel Davidson as an employee of No1 options my contract was with him and hence No1 options...
My latest dealings are with Dave Rosenberg a senior broker there. have attached a few of the original emails
New thread in the Scam Alerts Folder:
Review is submitted by Julia Ridsdale on 03/05/16
The company was first contacted about the issue on 12/21/15 the last contact was on 03/01/16
Details: Initally customer services said as I had accepted a bonus from them (which they paid into my account within an hour of me depositing $1010 - $1000 of which was towards long term deal which is the issue) I had to fulfill their bonus terms and conditions in order to withdraw/get any money back... Had then been agreed that Gabriel Davidson would sort this out and arrange my payment back.. Negotiations since some of which under FPA's direction via the scam alerts folder have resulted in Senior broker Dave Rosenberg saying if I deposit more money at least the same again I can get my money back that way
Company representatives' emails: Dave Rosenberg <dave@no1options.com>
customer services <cs@no1options.com>
Chris Martin <cmartin@no1options.com>
I am submitting the case against: No1options.com
My Case is:
Hi, I dipped my toe into binary options trading depositing $100 via Signals Binary site in Nov 2015.. within an hour of depositing this, No1 options broker Gabriel Davidson contacted me with a deal saying it was a risk free trade I needed in the end $1000 deposit, Gabriel encouraged me to borrow it on my overdraft etc as he said I could pay it back in a few weeks as deal was risk free. Against my better judgement I took myself to my limit and deposited $1010 in my No1 options account thinking I would get it back in a few weeks and could spare it till then.... Around that time I deposited the amount and placed the long term trade (which incidentally was 4 weeks.. longer than my understanding of a few weeks! .) I noticed $500 was deposited into my No1 account, having not read there terms and conditions at this point, I thought I would just leave it there and tell them I didn't want it when the time arose to deal with it... Fast forward to 4 weeks later my deal lost and was expecting money to be deposited back into my account.. This did not happen so I contacted original broker and he intimated that the money would be deposited back to my account and would contact me later that day to arrange withdrawal etc..I do actually have an email from him saying
" ...we are willing to offer you an insured trade today on the EUR,
Deposit another 1K and get the safe trade,
In case of lose we will refund you the money back to your account ."
He never rang back and when I finally got hold of someone in the company in January to find out what happened was past from pillar to post having been told Gabriel had left the company.. Finally was assigned to Dave Rosenberg to sort the matter out... In the end what he offered me was to invest more money for him to invest on my behalf to get my money back this way... Not happy with this and he would not answer my emails.. Did all the suggestions on your Forex Traders court emailing Dave Rosenberg and telling him what action I will be taking and where I would be reporting them if matter wasn't sorted out (have already filed a complaint with CySEC as a non regulated body.. not sure if correct place?) on 3rd email I got a reply,,,,saying that only way for him to help is for me to invest more money as way of getting round the terms and conditions...
As soon as I was aware of their bonus terms and condtions and what was going on a sent a message to say I did not, have not and will not accept any bonuses from them.. this was obviously after they had paid one into my account... Their terms and conditions are rather ambiguous as they don't state a timescale for refusing bonuses.. and I feel it was very sneaky of them to pay one straight into my No1 account exactly 31mins after I deposited the $1010 before I would even get a chance to read the terms and conditions. further more when the trade I "lost" on was paid back into my No1 account it was paid back as a "bonus" too... there terms and conditions say ....."
13. Bonus
No1Options provides attractive rewards features to its new and regular clients. Bonuses and one time trading credits are part of No1Options promotions program. These bonuses are limited by conditions, any bonuses are subject to change.
In order to be able to withdraw after taking a bonus customer will have to reach his trading volume requirement.The formula is as follows: [(Deposit+Bonus)*20]. So, for example if the customer invested $5,000 and took a $5,000 bonus his volume requirement will be: [($5000+$5000)*20= $200,000] which means that the customer will have to generate a trading volume of $200,000 in order to be able to withdraw funds from his account.
In addition, the formula is adjustable- when a customer adds funds to the account the required trading volume grows.
Any amount of money can be withdrawn only when the foregoing stipulation has been fully respected and fulfilled. Any withdrawal of funds from an account made before completing the terms of bonus will be immediately canceled and removed from the account. The bonus will be given to all traders automatically (unless the client has specifically asked NOT to receive a bonus), upon signing on this form you have agreed to the bonus terms and conditions as posted above and there will be no need to sign any alternative document. Any indication of fraud, manipulation, cash back arbitrage or other forms of deceptive or fraudulent activity based on the provision of the bonus will invalidate the account and any profits or losses collected."
I feel that my deal was placed with Gabriel Davidson as an employee of No1 options my contract was with him and hence No1 options...
My latest dealings are with Dave Rosenberg a senior broker there. have attached a few of the original emails
New thread in the Scam Alerts Folder:
Review is submitted by Julia Ridsdale on 03/05/16
The company was first contacted about the issue on 12/21/15 the last contact was on 03/01/16
Details: Initally customer services said as I had accepted a bonus from them (which they paid into my account within an hour of me depositing $1010 - $1000 of which was towards long term deal which is the issue) I had to fulfill their bonus terms and conditions in order to withdraw/get any money back... Had then been agreed that Gabriel Davidson would sort this out and arrange my payment back.. Negotiations since some of which under FPA's direction via the scam alerts folder have resulted in Senior broker Dave Rosenberg saying if I deposit more money at least the same again I can get my money back that way
Company representatives' emails: Dave Rosenberg <dave@no1options.com>
customer services <cs@no1options.com>
Chris Martin <cmartin@no1options.com>
