Abandoned - Issues with OptionRally Withdrawal

ahaider

Recruit
Messages
6
Hello

I had recently invested with Option Rally and started with a small account. Only last week, I was contacted by their VIP dealing room and they asked me to take 2 deals of USD 5K each. They also gave me one free trade of USD 5K from their side. As per them all 3 trades were insured and they would return my money in case the trades were lost.

I won 1 of the trades and the other 2 are still running. When I asked for a withdrawal of part amount they came back saying that I cannot withdraw any amount since there was bonus in my account. I was never aware that the third transaction they had allowed me to do ( so called free trade) was via a bonus they had added to my account. Let me tell you that I am not stupid and have never taken any bonus from any broker since I know what happens subsequently (one needs to meet a certain trading volume)

Bottom line , I am now being told that I cannot withdraw my funds on account of the bonus even though neither my account manager nor anyone else at Option Rally ever informed me about the fact that this was the case.

What can I do?


Regards
 
optionrally representative hero have another scam folder case to solve that counts 3 running!!!

If when you opened your live account, signed nothing that mentions bonus in the agreement terms and conditions then optionrally is scamming you in this case.
Knowing that you surely haven't sign any new agreement (or tweak of the first) for the 3 trades. The free trades are kind of "free" bonus some brokers offer for its clients to trade but it's mainly offered at start of account, they give you it to start being familiar with trading, if you loose they pay for loss, if you win the money is for you with no obligation. This is how it mainly happens, for optionrally who knows!!!!

Other advice than the basic one of not taking brokers bonuses, do not listen or trade according to your broker suggestions, if the account manager is that brilliant trader!! why accept an account manager job for known medium income per month when can make lot more from trading in the market???
If you can not trade your account successfully, do not deposit money in any broker account, train in demo accounts first.
 
I never signed any agreement of any sort. The only thing I did sign was the paper confirming my deposits. There was no mention of any bonus anywhere. On the contrary, they did ask me for bonus several times, but I refused on all occasions.

What is the remedy available to me now?

Thanks
Aftab
 
There must not be any legal paper for just confirming deposits! You only sign(actually check the box) of the terms of conditions at registration of your live account...etc

For now, optionrally representative will pop up from somewhere and reply to your thread. Depending on that, we'll have much details and both parties opinions to judge on. Although, regulatory bodies warned brokers from stopping withdrawal for bonus reason!, many brokers still scamming its clients!
 
Please explain what is free trade?

Explained in my post. Free trades are given for binary newbies or who are first time trading in a broker live account(new clients).
Some brokers offer the free trade depending on the client deposit, for example: if the client deposits $1000, the broker may give 4 trades $25 each for the amount of $100, if the client wins all the profits are for the client to trade or withdraw, if the client loss it, the broker credit the amount with the lost $100.
It mainly happens like that, scam brokers attach strings to it like trading an amount to withdraw the free trades profits, so it becomes as if a real bonus!!
 
Ahaider, can you please post your account number? Then the OptionRally Rep can take a look at your account.
 
Can ahaider the thread original poster send optionrally his full details(account number......), the broker representative don't want to bother searching for its client account under the haider name who got 3 free trades and was told no withdrawal.......many clients have these details!!!
 
Explained in my post. Free trades are given for binary newbies or who are first time trading in a broker live account(new clients).
Some brokers offer the free trade depending on the client deposit, for example: if the client deposits $1000, the broker may give 4 trades $25 each for the amount of $100, if the client wins all the profits are for the client to trade or withdraw, if the client loss it, the broker credit the amount with the lost $100.
It mainly happens like that, scam brokers attach strings to it like trading an amount to withdraw the free trades profits, so it becomes as if a real bonus!!

This is really a joke, what is the difference between a Casino and binary company?!
 
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