To whom it may concern
My name is Jurgens Fourie , and I want to report on how I have been scammed by a company pretending to be a binary option trading company.
The company name is Option XO and it was a link on face book that took me to their website.
I opened my account on their web site and was called by a guy who called himself Nathan Shark and he said he is the senior broker at the company, at that time I only had £250 pounds in my account.
He advise me that he will be dealing with my account and he will assist me with learning the art of trading, he started saying that the minimum trader you can place is £25 and that every time you lose you need to double your amount in the same direction.
The next day he contacted me again and I was expecting some more training, he only talked about that if I don’t deposit more money into the account he can’t really work with my account, the risk is too high. I said that I just want to learn with trading with small amounts, I deposited another £250 and he advised me that he will add £500 bonus money that the company adds to beginner to learn and that I will only not be allowed to draw the bonus out of the account.
I had £1000 pound in my account, I was planning on just playing around but the senior broke asked about what work I do and how much savings do I have and how do handle my investments. I revealed to him that i have about £10 000 in saving.
At this time I thought what a nice bloke sounds he is really interested to assist me with learning how to trade. From then on I could feel ever time we talked he kept on trying to convince me to insert more money; I added £1000 & £2000 to lower the risk as was advised by the broker and also because he said if I don’t deposit more money he can’t assist me anymore with my account, they will give my account to a joiner broker, i trusted that he knows what he is doing, and had not gross my mind that a trading company will be a massive scam.
My account was at £4000 with £500 of bonus, I only found out that at this stage that the amount that needs to be traded is £25 000 before I would be able to with draw any of my money , not only the bonus that I was lied to. When I confronted my broker he said that he will help me lift the volume of trades so that the £25 000 will be achieved in no time , he also said they done £25 000 with an account of £2000 today so mine would be easy.
I was advised that he got some good information on forex with the GBP/USD and if my balance is over £10 000 that is the minimum the company will allow for this info, then they will assist me with the information, at this moment I told my broker that I can add my savings money but I need it back at any time because I am self employed and run the risk of not having income.
I deposited the another £7500 into my account , My count was with the trades I made on +/- £15 000 , Ethan told me to do certain traded that was £2000 & £2000 ,some sort of hedging plan that we would defiantly win. One trade lost and the other won, the next day he told me to trade 2 trades of £6000, I was asking at the time why are using so much money,I thought we going to start learning with small amounts of money , I was told that I should trust him he knows what he is doing and if I need my money back it is easy they have a liquidation proceeds where you trade and don’t won or lost anything by it free all my money. Out of the £6000 traded £4000 was lost, I was not happy and spoke to the broker about it, I was just talked down and said sometimes you sometimes you lose. The next day I saw there is £6000 been added to my account but in the form of bonus money so now I was not in a good place because I had to trade the value of £300 000 to get my money back.
At this time I started to suspect that something is not rite, the next day I decided to ask if I can withdraw my money, he said ok let’s start with the liquidation process, he, made me place 90% of the money on lots of deferent trades and was advised its all hedged so it would work against each other and will not win any or loose. At this time the broker was UN friendly and just want rush me through this trades, I lost most of it there is only £1450 left and the £6000 bonus money.
From the beginning there plan is to get you deposit more and more and then make you win small and then start losing big to turn my money into bonus money that will never be able to withdraw.
I trusted the company and got scammed out of all my money, I asked my broker to see if I can see his broker licence and he just refused, since then i have been trying to get some sort of funds back with no result
DO NOT USE THEM BIG SCAM YOU WILL NOT GET ANY MONAY BACK.
After a deep research I have made, I discovered that OptionsXO are actually located in Israel, the owner is Tomer Levy and another owner Glenn Nathtan recently left the company due to repeated chargeback’s that were taken against the company.
They are located in Shenkar 5th in Israel, and their real name is TORO media Ltd which is an Israeli registered company.
I have started a process of reporting the whole story to the Israeli authorities and willing to allow you all to join with your story so we can prevent other from falling to this scam.
Please contact me for more details.