Alex Cooper of 500option.com contacted me on Dec 21 2015 and offerd me to participate in an “Off market trade” (which I have never heard of before). We agreed that if I deposited €7900 with them that they would send the money back to my bank on the 27th-28 of Dec 2015 and the offtrade amount would be arround €30.000. After a long discussion with confirmation that the money would be sent back to my card, I accepted. I deposited €7900 as agreed.
On the 28th dec 2015 at 11:22:53 Alex informed me we got €30.337.5 from the offtrade and he spoke to the CEO to credit the profit to my account.
About 20 minutes later he told me that he had an argument with his CEO but he reached a compromise, he needed me to put in an additional €13,300 to get the Off Market trade credited to my account, and after I put the money in I can of course take it out and I can take out the off market trade as soon as it is in my account.
I explained to him that my capital was exhausted and I had no way to put in an additional €13,300. Alex Cooper continued to put pressure on me and assure me that if I could just deposit the €13,300 that I would receive the €30K and it could be taken out right away.
The €7900 was not returned to me as agreed by the 28th Dec. After calling the main office several times and being told that I would receive a call back the same day which never happened. Alex Cooper contacted me again on Jan 05, 2016 and told me he had to take an urgent trip to moscow, and he would be back in the office the next day and fix everything.
On the 6th jan 2016 Alex assured me that he was there to take care of me and apologised for his staff not handling things right. After that, Alex began to try and come up with ways for me to get the €13300, asked me to take out a loan from the bank, try and come up with another credit card, etc, depite me trying to explain to him that I did not have any liquidity left, he tried to get me to put in a lower amount of €3300 and he would talk to the CEO again and arrange everything.
On the 7th jan 2016 Alex Cooper told me again he would try and solve everything.
On the 11th jan 2016 after asking Alex what was happening with the capital return + offtrade balance €30,337.5 that was supposed to be sent to me on the 27th, he replied “you can't get the off market trade profits mate because you didn't complete the requirements”. He later denied that I was involved in the off trade in an unclear manner and accused me of being stubborn.
On the 13th jan 2016 I gave 500option an ultimatum to either:
a.) Payout the €30,337.50 offtrade + €7,900 deposit for a total €38,237.50 and manage my account like we had talked about right from the start (another long story that is outside of the scope of this case)
b.) Payout the €30,337.50 offtrade + remainder of balance of €35,450 for a total of €65,787.50 before then end of this week and our business is done.
Or I would take the matter further.
On 14th Jan 2016, Alex told me they had settled everything and they would manage the account until march and credit the profit and he would get back to me the next day. I asked him to make sure he payed out the money and to be sure all future withdraws go without any complications or delays. He told me not to worry and they would start on monday.
On Monday Jan 18th 2016, Alex asked for the account login and told me they would get started. I asked him to take care of the withdraw that day as well. He replies "yes Michael? I am a bit busy now mate. I will back to you later on”.
On Jan 19th 2016 when Alex did not get back as he suggested and the Off Market trade was still not added to my account, or any withdrawls made, I told him I thought he was just trying to buy time and and suspect he had no intention of paying anything back. He told me it wouldn't help if I did a chargeback, because they did everything by the book and got me to sign all the agreements. And that he would turn the tables on me if I tried to go this way.
It seems 500option.com is a more extreme scam binary option company, with no intent of resolving issues with their clients, and no moral values to prevent them from completely draining their clients bank account with no remorse.
On the 28th dec 2015 at 11:22:53 Alex informed me we got €30.337.5 from the offtrade and he spoke to the CEO to credit the profit to my account.
About 20 minutes later he told me that he had an argument with his CEO but he reached a compromise, he needed me to put in an additional €13,300 to get the Off Market trade credited to my account, and after I put the money in I can of course take it out and I can take out the off market trade as soon as it is in my account.
I explained to him that my capital was exhausted and I had no way to put in an additional €13,300. Alex Cooper continued to put pressure on me and assure me that if I could just deposit the €13,300 that I would receive the €30K and it could be taken out right away.
The €7900 was not returned to me as agreed by the 28th Dec. After calling the main office several times and being told that I would receive a call back the same day which never happened. Alex Cooper contacted me again on Jan 05, 2016 and told me he had to take an urgent trip to moscow, and he would be back in the office the next day and fix everything.
On the 6th jan 2016 Alex assured me that he was there to take care of me and apologised for his staff not handling things right. After that, Alex began to try and come up with ways for me to get the €13300, asked me to take out a loan from the bank, try and come up with another credit card, etc, depite me trying to explain to him that I did not have any liquidity left, he tried to get me to put in a lower amount of €3300 and he would talk to the CEO again and arrange everything.
On the 7th jan 2016 Alex Cooper told me again he would try and solve everything.
On the 11th jan 2016 after asking Alex what was happening with the capital return + offtrade balance €30,337.5 that was supposed to be sent to me on the 27th, he replied “you can't get the off market trade profits mate because you didn't complete the requirements”. He later denied that I was involved in the off trade in an unclear manner and accused me of being stubborn.
On the 13th jan 2016 I gave 500option an ultimatum to either:
a.) Payout the €30,337.50 offtrade + €7,900 deposit for a total €38,237.50 and manage my account like we had talked about right from the start (another long story that is outside of the scope of this case)
b.) Payout the €30,337.50 offtrade + remainder of balance of €35,450 for a total of €65,787.50 before then end of this week and our business is done.
Or I would take the matter further.
On 14th Jan 2016, Alex told me they had settled everything and they would manage the account until march and credit the profit and he would get back to me the next day. I asked him to make sure he payed out the money and to be sure all future withdraws go without any complications or delays. He told me not to worry and they would start on monday.
On Monday Jan 18th 2016, Alex asked for the account login and told me they would get started. I asked him to take care of the withdraw that day as well. He replies "yes Michael? I am a bit busy now mate. I will back to you later on”.
On Jan 19th 2016 when Alex did not get back as he suggested and the Off Market trade was still not added to my account, or any withdrawls made, I told him I thought he was just trying to buy time and and suspect he had no intention of paying anything back. He told me it wouldn't help if I did a chargeback, because they did everything by the book and got me to sign all the agreements. And that he would turn the tables on me if I tried to go this way.
It seems 500option.com is a more extreme scam binary option company, with no intent of resolving issues with their clients, and no moral values to prevent them from completely draining their clients bank account with no remorse.
