This company has taken my money claiming to match it and then advises unsuspecting clients to make large investments and all money is lost. They do not respond to requests for withdrawals and do not care about teaching clients about trading. DO NOT TRUST THEM!!!
I checked the FSR long before investing anything with them beyond $500. You must check out the clearing house RedTulip not Magnum Options. And, as far as I understand, for the exact reason that they are neither registered nor regulated you all have but only one option -- to launch class action by assigning legal counsel to your case.
If you dig further on RedTulip and afflicted companies to Magnum Options you will surely find the name of that notorious man I discovered is behind these pop up brokerage firm.
On Apr 21, 2016, at 2:35 AM, Nolubabalo Solomon <firstname.lastname@example.org> wrote:
Yes I signed a document they called Binary Money Mind and cancelled it when he lost $40K over night on some useless trades.
Nevertheless, please see the response from the FCA Institute below.
Dear Mr Solomon,
Thanks for your email where you contact us about a firm called Magnum Options. I was so sorry to read about the amount you gave to these people.
Checking our records
I have no information about who Magnum Options or Jason White is when I check our Financial Services Register, which is a database of all the firms we authorise. If we’ve got no records of them on our register, it would indicate we don’t authorise them to provide investment services to retail consumers in the UK.
Unfortunately this could also mean that this company or individual might not even exist. Scammers can make up elaborate stories to try and trick you into sending them your money.
I can’t see that we’ve got any warnings about Magnum Options on our website. If you’ve got information about who they are, please show me because we might be able to use it to warn consumers via our website.
Contact the Police
If you’ve been the victim of a scam, you’d need to report this to the Police. You can contact the UK Police via Action Fraud, which is the UK’s national fraud and cyber-crime reporting centre.
The Police will be able to help try and get your money back, and are the appropriate organisation to contact if you want to prosecute an individual for fraud.
Thanks again for your email. I hope this helps you.
How was your experience with us?
To help us improve our service, I’m interested in finding out about your experience with the Contact Centre today.
I’ll send you a link to a survey and I’d appreciate it if you could take a few moments to share your feedback on the service you’ve received from me.
If the deposits were by credit card, call your card's issuing bank. Ask to speak to the fraud department. Explain exactly what happened and ask if a chargeback is an option.
If they say yes, follow their procedure. If they say know (some bank employees don't understand that there are more types of fraud than unauthorized charges), you may need to seek professional assistance - such as from WinChargeback.
Read two articles today that explain whole system.
Sunday Dec 11 2016
The times of Israel
Ex- binary options salesman :
Here's how we fleece the clients
The second one is