Option Fm(OFM) scam -downunder

[LauraL]

Hi Tolly,

As you mentioned that (as shown below), what promises service can I refer to so that I could substantiate it as evidence to my bank to request for the chargeback. Could I know what do you provide, the trading portfolio? what else? I'm seeking help as I hope my bank would find enough evidence to proceed with the chargeback. I've send them the link beloe for their reference. I've also quoted your above message as reference for my bank. Thanks Tolly for sharing.

https://smnweekly.com/2016/05/23/canadas-bcsc-warns-against-option-financial-markets/
https://www.moneysmart.gov.au/scams...sed-companies-list/b/b-o-technologies-limited
http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/
"As such OFM has been negligent in failing to provide the promised services (see below) and I believe I am entitled to a full refund."

Below is my comment to my bank to request for chargeback. Kindly advise if more info/comment I should/can add on. Thank you.

Further to elaboration to my request to chargeback, Sean Adams is a Senior Account Manager. However , he traded in a suicidal manner not befitting any title let alone professional trader. He knew that I had no training at all and yet he traded in a completely reckless and unprofessional way - decimating my investment.


As such OFM has been negligent in failing to provide the promised services (see below) and I believe I am entitled to a full refund.

Some of the conversation for your reference "you are so lucky OFM is a leader in the binary option field, they have the most diverse trading platform in the business, and with my training and expertise you will make a lot of money"
Becausethey know the platform so well, theyknow exactly where to lead the client (loss) before the client has any idea of the severity of their position.This is unacceptable anddeceptive.
I believe it's all a giant set up. OFM "the company" re- their internet presence-portrays a safe- professional trading company-Their broker,contrary to this, (I 'm sure they have got some good brokers)-violates this doctrine.. The so called safe company is hidden behind layers of endorsements -false addresses -parent companies -and foreign laws.
Please note that nearly all the names and claimed histories of binary "managers" are complete fiction. The majority of them are sitting in call centers in Israel.

 

[tolly]

Hi Laura-Not sure what country or what bank you are with-but I spoke to the fraud squad at my bank -NAB- explaining my situation, You would be surprised at just how many people have been caught, just like me- just like you!
I then did a screen shot of all my deposits to OFM and cross checked them with my bank statements.
This is important because NAB sent me a chargeback form for each deposit amount and I had to sign each one before anything happened--------------------------------------------------------------------------------------(PrintScreen then paste to Windows Paint then print)

Their chargeback form had a list of ten or so so different reasons for a chargeback request.

FPA gave me the advice from previous cases that I had not received the goods promised so I have gone with that!
You also have to provide evidence that you have tried to withdraw your money-again screenshots of email requests or rejected withdrawal requests from the OFM page is good!

NAB will now approach the bank that OFM deals with, and convince them that OFM has not provided the goods.

It's like buying a fridge- If it doesn't work you are entitled by law to a refund or replacement .

In my case -OFM
Didn't provide training promised
Didn't trade in a safe secure manner as promised-
Didn't even give the client-(me) a chance to even stop or see what the winnings or losses were at the time of trading.
Didn't explain how the bonus system works in favour of OFM- by forcing you to continue trading-in an effort to recoup your money.

It's important to stay calm -sometimes you get experienced people to talk to at the bank-
Sometimes you feel that you know more than they do- they just follow procedures-
Once you get the chargeback form you will realise your case is just one of thousands!
It's still ongoing for me Laura-but feel the FPA has empowered me and I am only too happy to pass on my experience to you.
Take care -Tolly

 

[LauraL]

Thanks for your prompt response. I'm from Malaysia and I uses different cards/banks for deposits. Thus, I need to request from all banks to request for the chargeback. I'm afraid they may think that it's an investment/option company which may be a lost. Therefore, I need to show evidence/prove that OFM meant to deceive and it's their fault. HSBC has issue chargeback and I'm still waiting for the refund. Now, I'm submitting dispute form from all other banks for the chargeback.

 

[Burnt]

Hi Laura-Not sure what country or what bank you are with-but I spoke to the fraud squad at my bank -NAB- explaining my situation, You would be surprised at just how many people have been caught, just like me- just like you!
I then did a screen shot of all my deposits to OFM and cross checked them with my bank statements.
This is important because NAB sent me a chargeback form for each deposit amount and I had to sign each one before anything happened--------------------------------------------------------------------------------------(PrintScreen then paste to Windows Paint then print)

Their chargeback form had a list of ten or so so different reasons for a chargeback request.

FPA gave me the advice from previous cases that I had not received the goods promised so I have gone with that!
You also have to provide evidence that you have tried to withdraw your money-again screenshots of email requests or rejected withdrawal requests from the OFM page is good!

NAB will now approach the bank that OFM deals with, and convince them that OFM has not provided the goods.

It's like buying a fridge- If it doesn't work you are entitled by law to a refund or replacement .

In my case -OFM
Didn't provide training promised
Didn't trade in a safe secure manner as promised-
Didn't even give the client-(me) a chance to even stop or see what the winnings or losses were at the time of trading.
Didn't explain how the bonus system works in favour of OFM- by forcing you to continue trading-in an effort to recoup your money.

It's important to stay calm -sometimes you get experienced people to talk to at the bank-
Sometimes you feel that you know more than they do- they just follow procedures-
Once you get the chargeback form you will realise your case is just one of thousands!
It's still ongoing for me Laura-but feel the FPA has empowered me and I am only too happy to pass on my experience to you.
Take care -Tolly

Hi Tolly,

Im from aud as well and have just recently contact my bank westpac.
Just wondering how long did NAB take to get in touch with you and has the bank indicated you have a winning case?

 

[Kerobokan]

Hey guys-this is one fired up Aussie!!!!!!!!

After many emails of complaint- this is Option FM reply:
I am very sorry for your losses, sir, but please understand that it cannot be avoided even with the best intentions. -

Tolly's attack-
The Question you have to ask, is, how can “a Senior Account Manager at OFM” - commit to 166
Trades in 26 minutes –with any trading strategy at all? A trading strategy with proper risk assessment, conducted in a proper time frame-conducted in a professional manner?-
He promised extensive training-
Risk management strategies-
He promised a Trading strategy that would assure me of extra income, now and long term.

The simple answer is –HE CAN’T!

He failed on all counts!

In 26 minutes he did 166 trades- more than $100,000 of investment.
He traded in a suicidal manner not befitting any title let alone professional trader.
He knew that I had had no training at all, and yet he traded in a completely reckless and unprofessional way -decimating my investment.

As such OFM has been negligent in failing to provide the promised services (see below) and I believe I am entitled to a full refund.

I have forwarded all the trading figures and evidence to the appropriate bodies.

166 trades in 26 minutes is a trade every 9.39 seconds,just enough time to click the button/trade ticket window,watch the trade execute and then start over again.
To say any thought or trading strategy whatsoever went into those trades is laughable,he was just burning through your risk capital as fast as his grubby little paws could click the button on the mouse or trackpad,scumbags!

 

[tolly]

Hi Guys
If You Think FPA hasn't got clout -think again-
Tried to log in to OFM -ha
Didn't get far-Have a big window saying -CHARGEBACK requested from your Credit Card Company!
We'de appreciate it if you contacted customer support- We are sure we can leave you satisfied!!!!!!!!!!!!
Come on we're the good guys -Oh YEA !

Will keep you posted-the banks take their time, but I'm feeling pretty comfortable.

 

[Thiaghu]

Hi Laural,

I'm from Malaysia and have been cheated by OFM. Please give me guidelines how to do report to bank and request for the chargeback.i did two payment to OFM by credit card and my last payment was yesterday. I called bank to block my second payment since it's still in my bank but they have send me a Dispute Declaration Form to fill for investigation.Please help me .

 

[tolly]

Hi Laural,
Yes it can drive you crazy on top of the stress of losing your hard earned money, you talk to people at the bank that have little or no experience of chargeback.
You are lucky that you have found this FPA while every thing is still new!
Speak to the people at the bank, explain your situation and ask for a chargeback form to be sent to you-better still google your bank and see if they have a FAQ sheet with the download link. Basically the chargeback form is a form that gives you the many ways why you can apply for chargeback. Example being- faulty goods, fraudulent use of you credit card and so on.
In your case it would probably be OFM not supplying the training and banking requirements promised, before they went crazy and traded away your money.
Make a folder on your desktop and do a snapshop of all the trades, your banking, particularly when and how much you invested,-and copies of your emails from OFM.
(Press Printscreen then paste to windows paint and save to folder)Also snapshot your platform with your account number for safe keeping-they mite lock you out later
This is very important because you will be given a number for each deposit you gave. For example $250-$5000-$5000. You will be given 3 separate chargeback numbers and your bank who issued the credit card to you will the try and get the money back from OFM. I can not stress enough-get the forms no matter what-first time I spoke they didn't know what I was talking about.
Also you need proof that you have tried to withdraw your investment. Do snapshots on the OFM banking platform. It will be there-withdrawal refused.

Set up your own thread with your own story -its not hard to do -so what- you press the wrong buttons a few times ,hey!
You can copy and paste bits and pieces from this thread, and importantly send the link to everyone you can at OFM.
Cease contact completely with your your so called pro broker????? ! Don't be intimidated.
You can put a stop on his number on your mobile if you want to-this makes them squirm-ha

Then send notice of your complaint to the appropriate bodies you have in Malaysia,
then paste the report numbers to your link-This is important because it gives you clout-(strength)
Just google- you'll find similar organisations to those below.
Hope this helps -take care -Tolly

ACORN.gov.au
econsumer.gov
IFSC Belize-regulater

 

[Pharaoh]

See post #8 on page 1 of this thread for a quick idea about chargeback options.

 

[tolly]

Thanks Pharaoh-
have copied info for others to read-
For the chargeback, another option is to say that withdrawals are part of the promised services and they are not providing the promised service. If your bank still won't cooperate, you can enlist professional help from a chargeback assistance service like WinChargeback.com

Remember guys -there's power in numbers- you can feel the perpetrators squirm when they see the number of members on FPA-
And from my experience the broker will try every trick in the book-even use emergency numbers or other friends(broker) to ring you-Ha- they only stop when the chargeback is served-and that is reason enough to smile!!!!!!!
Tolly