On the 14th January 2016 I sent an email to the account manager of Fast Options, from an alternate home email address, acting as a potential new client with some money to invest. Low and behold I received a reply email a couple of days ago. In my email (see below) I raised a number of questions prior to my investment:-
"Raquel.
I recently came into a large amount of money and I'm looking at spreading the money around different investments. A family friend mentioned fast options as a possible place to invest. I'm looking at anywhere of up $50,000 (AUD). But they were unable to answer some questions that I had. As I'm considering investing a far amount of money hopefully you can answer some questions for me:-
1. Is fast options regulated? If so where and what is your registration number?
2. Where are you guys located? In Australia?
3. If I decide to go with you are my funds segregated from fast options and other investors?
4. How can you guarantee "winnings"? Do you have liquidity providers? If so who are they?
5. I've noticed on your website that withdrawals take about 3 - 5 days? Is that guaranteed or can there be delays?
6. How can I deposit? via credit card?
I'm very interested in fast options but I what to make sure my money is safe.
I look forward to hearing from you soon."
The reply to my questions were:-
"Hello,
First of all apologize for late response. Also thanks for taking an interest in our program. I will try to answer as prompt as possible.
1) We are regulated in New Zealand
Name: FOREXER LIMITED
FSP number:
FSP298426
http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryCompanyFSP/FSP298426/12.do
2) We are mainly located in Israel
3) Yes of course. Each account is independent.
4) I will try to be honest as possible. There is no such a things as guarantee in this or any other business. There is always potential risk of loss. Luckily, our system proved as very reliable. So, being said that we never experienced any catastrophic outcome. At worst you will get back your investment. However potential is huge and more likely is that you will be satisfied with our service.
5) Normal waiting time is 3-5 days. However sometimes it might takes longer due to the weekends, holidays and banking security measures.
6) Only Bank Wire
If you have more questions do not hesitate to contact me.
Sincerely,
Raquel"
I have accessed the attached link and it does appear that they are regulated in New Zealand. My next step will be to contact the NZ regulator to advise them of what has transpired.
I love the answer to question 5 about how long it takes for withdrawals to be processed. Given I've been waiting since 30 November 2015, 3 - 5 days is quite laughable.
I also sent an email to the officer at the Australian Federal Police who initially contacted me when I made my initial deposit. The officer advised me that I wasn't the only person who he is working with regarding this scam and that there were a number of Australians in the same boat. I agreed to lodge a police report which probably will not get my money back but at least I feel I'm doing the right thing which may stop Fast Options.
"Raquel.
I recently came into a large amount of money and I'm looking at spreading the money around different investments. A family friend mentioned fast options as a possible place to invest. I'm looking at anywhere of up $50,000 (AUD). But they were unable to answer some questions that I had. As I'm considering investing a far amount of money hopefully you can answer some questions for me:-
1. Is fast options regulated? If so where and what is your registration number?
2. Where are you guys located? In Australia?
3. If I decide to go with you are my funds segregated from fast options and other investors?
4. How can you guarantee "winnings"? Do you have liquidity providers? If so who are they?
5. I've noticed on your website that withdrawals take about 3 - 5 days? Is that guaranteed or can there be delays?
6. How can I deposit? via credit card?
I'm very interested in fast options but I what to make sure my money is safe.
I look forward to hearing from you soon."
The reply to my questions were:-
"Hello,
First of all apologize for late response. Also thanks for taking an interest in our program. I will try to answer as prompt as possible.
1) We are regulated in New Zealand
Name: FOREXER LIMITED
FSP number:
FSP298426
http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryCompanyFSP/FSP298426/12.do
2) We are mainly located in Israel
3) Yes of course. Each account is independent.
4) I will try to be honest as possible. There is no such a things as guarantee in this or any other business. There is always potential risk of loss. Luckily, our system proved as very reliable. So, being said that we never experienced any catastrophic outcome. At worst you will get back your investment. However potential is huge and more likely is that you will be satisfied with our service.
5) Normal waiting time is 3-5 days. However sometimes it might takes longer due to the weekends, holidays and banking security measures.
6) Only Bank Wire
If you have more questions do not hesitate to contact me.
Sincerely,
Raquel"
I have accessed the attached link and it does appear that they are regulated in New Zealand. My next step will be to contact the NZ regulator to advise them of what has transpired.
I love the answer to question 5 about how long it takes for withdrawals to be processed. Given I've been waiting since 30 November 2015, 3 - 5 days is quite laughable.
I also sent an email to the officer at the Australian Federal Police who initially contacted me when I made my initial deposit. The officer advised me that I wasn't the only person who he is working with regarding this scam and that there were a number of Australians in the same boat. I agreed to lodge a police report which probably will not get my money back but at least I feel I'm doing the right thing which may stop Fast Options.