I have encouraged somebody else to report to Acorn as well. How did this here proceed, please? The new information I received shows that they can move people to indebt themselves to real financial institutions over high amounts. This brings the whole thing to a slightly increased level, because the risk of insolvency is then ultimatedly shifted to real banks.
I am not clear whether you are asking how to report to ACORN or the result of that reporting, so I will answer both questions!
1. There is a form available on their website which is fairly straightforward and allows for the attachment of additional documents such as the direct complaint made to Optionrally, (which is the required by Cysec, their governing body,anyway) and an overall summary of the problems etc.
2. So far the response I have had from ACORN was an indirect request through the local police for a detailed official statement. To their credit the local police went to extraordinary lengths to obtain a very thorough and detailed statement from me. This was done in September 2015 following my complaint to ACORN in May 2015.
My timetable has been:
Nov 2014 Started "trading' with Optionrally
April 2015 Stopped "trading " with Optionrally after managing to recive just $1000 back from them after a long fight
May 2015 Discovered and Registered with The Forex Peace Army site which confirmed my worst fears and which has been very helpful! Thank you guys!
May 2015 Terminated all contact with Optionrally with a long letter of complaint to them
May 2015 Complaint to Cysec
May 2015 Complaint to ACORN
May 2015 Request to Westpac for assistance which was declined on the basis that I had given Optionrally my credit card details. Also, the argument as suggested on this site, that as Optionrally was not allowing withdrawals and therefore not providing a brokerage service held no sway with them
Sept 2015 Statement requested by ACORN and given through local police.
Jan 2016 Letter received from Cysec informing me that I may be eligible to file a complaint with the Office of the Financial Ombudsman in Cyprus.
5th Jan 2016 Email sent to
enquiries@financialombudsman.gov.cy asking if I would still be eligible to file a complaint with them as they say on their site that there is a time limit of 3 months since last contact with the company to file a complaint. So far I have not had a reply. I will probably send in a full complaint this week anyway as I now have some time to do so.
Re comment about bank's possible concern re insolvency.
In my situation I am too small a client for them to worry about me. In fact they are benefiting from the interest I have to pay on my credit card as a result of my dealings with Optionrally, so they are hardly motivated to assist!
This is a rather detailed answer but in so doing, I hope the information may help someone else. Further comments are welcome to all of this.
I'm older and hopefully wiser and have really appreciated the chance to share and receive support and hopefully give back, through this site.