Letter from my lawyer to Optionstarsglobal on 16.01.2017
Dear Sirs,
We are appointed lawyers of Mr Manfred Schall, our client was offered by his account member on 24.11.2016 14:14:56 to trade on gold level with a vip analyst in your Company.
His account was at 23.380 Euro at that time. Later that day between 15:30 h and 15:30 h the vip analyst gave several trading signals to my client which he accepted without further verification. At 16:00 h nearly all trades were closed and the account of my client was at 0 Euro. It became immediately clear to my client that these trades were meant to kill his account and he presented - beginning in the evening of the same day - overwhelming evidence to you that this was indeed the case and included manipulation of data, which would be a criminal act. My client never got a response from you to these serious accusations. The only response he got was a message on 29.11.2016 saying that you would restore the balance of the account of my client to the original balance. This would have been acceptable if the account would have been restored to the balance on the morning of 24.11.2016. But you restored it without further explanation to a balance of only about 7000 Euro.
Please proceed with a restoration of his account as of 25/11/16 within 5 days otherwise a legal action will be taken against you.
Michalaki, Pitsillidou & Co L.L.C.
Answer of Optionstars
Gesendet:Dienstag, 17. Januar 2017 um 18:20 Uhr
Von: „Support Department“ <support@optionstarsglobal.com>
An: manfred_schall
Betreff: RE : optionstarsglobal
Dear Sirs,
Mr Manfred Schall who signed up with the company on the 16.06.2016. Client deposited with the Company a in total of €7263 for the purpose of trading on-line Binary Options.
Whilst a client of us, the client received, amongst other benefits, extensive care, guidance, and financial education in order to assist them to trade. It should be noted that the client has sole responsibility for their account since they have sole discretion. Subsequently the client has sole responsibility for making decisions, inter alia, how much to deposit, how much to trade, etc.
By signing all documents the client also confirmed that he has read, understood and agreed to the terms and conditions of the company, as well as is informed of the risks of trading online binary options by the Risk Disclaimer displayed on the site.
Your client claims regarding the trades executed by him self on November 24th 2016; He claims that at 16:00 nearly all trades were close and the account was 0 Euro. This claims should be found baseless as all trades were open with expiry time of a few days. The trades were expire on November 29th.
The „Trade Rate“ and „Strike Rate“ are the same price; indicating they were no spreads, this is the rates the platform provide at the time.
At this point your client misunderstood and start raise threats at the company employee over phone and emails.
We have tried to reach an understanding with your client but he refuse.
We have decided, due to lack of proper response to our employees, to restore the original balance and refund the full deposit amount. Important to note that while restoring the balance and cancelling trades we suffered a great loss.
Best Regards,
Customer support department
My comments to Optionstarsglobal to the above letter
Gesendet: Dienstag, 17. Januar 2017 um 23:36 Uhr
Von: „Manfred Schall“ <manfred_schall
To
: support@optionstarsglobal.comBetreff: Fw: RE : optionstarsglobal
Here my comments to the e-mail from Optionstarsglobal
Trade Rate (or Strike Rate) is the prize at which the trade was opened. When I analysed the data of the trades on 24/11/2016 I looked at the data, including Trade Rate, at the platform of Optionstarsglobal and on a MT4 data . There was no large difference between the last two. But in 2 cases, USDCAD and CADJPY the differences between the data used by Optionstarsglobal on my trades were so ENORMOUS that data manipulation was evident.
The criminal intent of Optionstars becomes evident when looking at the chats with Jan van Dijck and an e-mail with the support, namely:
My account was at 23.380 Euro and I wanted to make a partial withdrawal. Jan van Dijck refused and insisted that I continue trading. On the afternoon of the 24/11/2016 I was „invited“ to trade at „gold level“ with a vip analyst and I fell into the trap. Now shortly after expiry of trades - when my account was at 0 Euro I got the following e-mail from the support:
Gesendet: Donnerstag, 24. November 2016 um 15:51 Uhr
Von: „Support Department“ <support@optionstarsglobal.com>
An: manfred_schall
Betreff: RE : optionstarsglobal
Dear Mr Manfred Schall,
Thank you for contacting us.
We have reviewed your claims and based on your trading activity today we understand the situation has changed.
We hope to see you continue trading with OptionStarsGlobal.
Best regards,
Customer support department.
Taking this e-mail into account - can there really be any doubt that the trades that were given to me were meant to avoid a withdrawal (MY CLAIM !) I was looking for ? To me this e-mail made the impression of a „smoking gun“, see my response below:
Gesendet:Donnerstag, 24. November 2016 um 18:35 Uhr
Von:„Manfred Schall“ <manfred_schall
An:„Support Department“ <support@optionstarsglobal.com>
Betreff:Aw: RE : optionstarsglobal
Hello,
very interesting that you contact me !
Your analyst Jan van Dijck sent me to your chief analyst Tom Vitori.
From him I got 4 winning tades using a moderate trading volume.
He came back 1/2 h later and gave me 6 more trades - this time with an extremely high volume (5000 Euro) which killed my account in 30 min.
I see now from your „triumphant“ tone, that you orchestrated this.
Because - looking more closely at the charts - I saw that the Trade Rate of 2 trades was grossly manipulated (others moderately).
I think this is a criminal act and I don`t hesitate to publish this act and inform relevant authorities.
And the „triumphant“ tone is a very strong indication that this was really planned.
Kind Regards,
Manfred Schall
Optionstarsglobal made no comment about my complaint that they intentionally gave me loosing trades which included manipulations of forex data to kill my account. But they reset my account to a value of my deposit. In doing that they destroyed also the trading history of the trades in question - hoping to hide the criminal nature of these trades. Having this in mind they could write:
This claims should be found baseless as all trades were open with expiry time of a few days. However – the screenshots I made tell a different story. And their e-mail after the trades too.
