**ALERT** ScalaTrade / OptionRally Scam

This was expected I guess. No communication and no responsibility towards investors. They don't answer phone calls, emails and speak to customers in a threatening way. Wow, offices in UAE, Singapore, London, South Aftica and now Israel yet nowhere to be found. I hope they rot in hell and wish them the death of a Rat living on the streets in Bangladesh.
 
Scalatrade/Option Rally are sending out documents (attached) for account closure to clients. Some of the most ridiculous clauses ever. Bunch of nincompoop thieves. Looks like they finally recruited someone that can write English or is it spell checker!
 

Attachments

  • Managed Account Closure Request Form (1).pdf
    377.9 KB · Views: 8
If we didn't have enough proof before, that Scala.Trade agreement ends any lingering doubts. It directly mention OptionRally on the second page.
 
Dear all.
I have been contacted by scala trade today in response to an email I sent them two days ago stating that I was scammed by my optionrally account manager who works now for them and I threatened to ruin their reputation. Their email stated the following

Dear client,
Thanks for your e-mail.
After discussing your case with Dr. Ziad Alali, approved that your account was transferred to Scalatrade, yet your account is not activated yet since you didn't sign the applications.
Therefore, you cannot open trades/deposit/withdrawal unless you approve the attached applications.
Please approve the attached applications so we can give you a solution for your case.
Regards,
Scalatrade team


Please know that I did not approve for my account to be transferred to scala trade and actually refused it.
Please advise what to do.
Also. Anyone interested to do a group law suit against optionrally.
It will be cheaper I have invested $70,000 and need to get my money back. Please advise
 
Dear all.
I have been contacted by scala trade today in response to an email I sent them two days ago stating that I was scammed by my optionrally account manager who works now for them and I threatened to ruin their reputation. Their email stated the following

Dear client,
Thanks for your e-mail.
After discussing your case with Dr. Ziad Alali, approved that your account was transferred to Scalatrade, yet your account is not activated yet since you didn't sign the applications.
Therefore, you cannot open trades/deposit/withdrawal unless you approve the attached applications.
Please approve the attached applications so we can give you a solution for your case.
Regards,
Scalatrade team


Don't sign anything. They are going down!!!
 
Scala Trade is not licensed or authorised by the Monetary Authority of Singapore (MAS) to provide financial services in Singapore. You may wish to note that Scala Trade has been placed on the Investor Alert List (IAL), available on the MAS website (http://www.mas.gov.sg/IAL.aspx). The IAL is a non-exhaustive list of unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or authorised by MAS. Scala Trade was placed on the IAL to alert consumers.


We note your suspicions that Scala Trade may be running a possible scam. Regardless of whether an entity is regulated by MAS, it is an offence to run a fraudulent or deceptive business in Singapore. If you suspect any criminal wrongdoing or fraud, you may report the matter to the Commercial Affairs Department (CAD), the principal white-collar crime investigation agency in Singapore.
 
Last edited by a moderator:
Dear sir

I have reported them to the singapore commercial affairs department as I know they are a scam from my personal experience. Any other recommendations Singapore.
Scala Trade is not licensed or authorised by the Monetary Authority of Singapore (MAS) to provide financial services in Singapore. You may wish to note that Scala Trade has been placed on the Investor Alert List (IAL), available on the MAS website (http://www.mas.gov.sg/IAL.aspx). The IAL is a non-exhaustive list of unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or authorised by MAS. Scala Trade was placed on the IAL to alert consumers.


We note your suspicions that Scala Trade may be running a possible scam. Regardless of whether an entity is regulated by MAS, it is an offence to run a fraudulent or deceptive business in Singapore. If you suspect any criminal wrongdoing or fraud, you may report the matter to the Commercial Affairs Department (CAD), the principal white-collar crime investigation agency in Singapore.
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