This is quite a complex scam, easiest thing is to post the letter i've sent to my bank, who tell me there is nothing that can be done. I'm now going down the route of FSA to try and get money back from the bank.
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My claim is for a refund after unwittingly signing up to two binary options trading Companies which promised to deliver a professionally operated signals and automated trading service after depositing with the brokerages. The services I have been given are deceptive in nature and fall woefully short of professionally run signals and brokerage service. I now have very strong reason to believe that both brokers and the signal provider, Binary Options Xposed are in fact scam operations, set up to trick investors out of their deposits.
I initially signed up for the signal service with Binary Otions Xposed, which was ok until Christmas but has been sporadic and intermittent since then to say the least. However when Susan Nelson (Binary Options Xposed Trader) told me about the amazing results the automated trading system or AT was getting, I thought I’d take the one month trial, which I did, unaware that my deposit would be tied up even if I didn’t want to continue with the AT service. At first everything seemed great, 6k profit in the first week, I said to Susan Nelson in our Skype conversation (enclosed) that it seemed to good to be true. I enquired about the AT running over Christmas, since the Christmas holiday period is notoriously treacherous in the currency markets at this time and was told by Susan Nelson that the system would be shut down for the period. I was very surprised then and alarm bells started ringing, when I logged into the Bank Options website after Christmas to find that the account was down by 6000 and all the trade history, which had been there prior to Christmas, had vanished. When I asked Susan Nelson about the missing data she said it had been lost during some maintenance work and that she was amazed too. As a Systems Engineer, I know that this is unthinkable and would not happen in a legitimate financial organisation and that backups are always kept.
I started doing some research on the internet and found that both Bank Options and Options World are owned by the same Company, K.J.W. Developments Ltd. Of Cyprus. The owner of Binary Options Xposed is called Kristien Jacobs, I don’t know if he is the owner of K.J.W. Developments too. After some more internet searching, I started finding complaints about people not being able to withdraw their funds from Options World after requesting it.
See:-
Option World Binary Options Scam | Binary Options Scam
Ripoff Report | Option World Complaint Review Internet: 915506
I have now processed an online withdrawal request of my funds with Options World and am still waiting to receive that. I have explained to Susan Nelson that I’m worried about the security of my funds with Bank Options following the loss of data over Christmas and that I wish to withdraw my deposit but she tells me that I took the bonus (which i’m not interested in) and that I cannot withdraw until I’ve traded out my account or the AT has traded out my account 30 times, by which time I’m now almost certain it will have evaporated or, as others have testified, I won’t be able to withdraw my funds. I just want to close my accounts with these Companies and get my deposits back.
There have been other anomalies that have set alarm bells ringing with me, like in the AT service rules asks that no one log into the AT during the week as this stops it from working. Or it could be that trade history is being fabricated after the event and if one logs in before Friday there is no history or trading activity to view. Also, since Christmas the Skype signals groups have been very erratic, with many different groups appearing and all users being taken out of each group at the end of each trading session and moved into different groups. It seems to me that this is an attempt to stop disgruntled clients from communicating with each other or warning others that the whole thing is a scam. I have communicated with some other members and it’s the same story in every case, no delivery of complimentary Apple products promised or training. Signals yes, profits on paper only and the complaints on the internet about clients not being able to withdraw their funds are growing.
I’ve enclosed screen shots of my accounts with both the brokers, showing my deposits and then the trade history missing from Bank Options and the withdrawal request from Options World, which I’m still waiting for. I’ve also enclosed all my email communications with Susan Nelson. You’ll notice that although she states in her email that the Auto Trader or AT hasn’t been working this week there have still been two trades placed on my account which I didn’t make. I haven’t traded on either the Options World account since the 10/12/2012 and haven’t placed any trades on the Bank Options account. All trades on the Bank Options account have been placed by the AT. Please don’t hesitate to contact me on the numbers below.
Many thanks for your help in trying to resolve this issue
