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BOcapital

Discussion in 'Scam Alerts' started by Bowlerjim, Jun 4, 2012.

  1. Bowlerjim

    Bowlerjim Recruit

    Joined:
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    BOcapital is a broker that handles binary options. They advertise that there are no spreads charged and you can withdraw up to your account balance at any time.
    I placed $100.00, the min. deposit, into my trading account on May 28, 2012. On May 30, 2012 my account was up to $750.00. At this point I tried to withdraw $150.00, to test the waters, following their directions to the letter. The withdrawal section of the platform would not let me enter $150.00 but would let me enter $100.00. So I contacted support to ask why. They replied by email that they didn't know but would get back to me. I accepted this and went back to trading.The next trade I took I had 25 pips added to the strike price and another 20 pips were added to the market price when I committed to the trade. I am now trading against 45 pips to break even. At first I did not realize this until after the trade was engaged. I was used to checking the price listed as "our price" then setting up the trade using their line chart as a guide before engaging the trade. Needless to say I lost that trade. I still wasn't sure how because according to my Meta 4 platform I had won by 32 pips. I use meta trader 4 to track my trade.
    On the next trade I took screen shots of the market price before I did the trade setup and then a screen shot at trade setup and a third screenshot when I committed to the trade. This clearly shows the 25 pip spread added to strike price and then another 20 pips added to market price when the trade was engaged.
    With three screenshots taken within a 2 second time laps, it's easy to see what was going on. I contacted customer service with this new problem. They had "never heard of this happening before". They said I need to take a screenshot so they can investigate the problem. I sent the screenshots I had taken explaining the price changes on every screenshot. Their next email said they were having a problem reading some of the numbers so I placed the screenshots in the body of the email where there could be no problem in reading. There next email said they would turn the matter over to the tech dept which is in another location and get back to me by Monday. When I asked if they could resolve the withdrawal problem they asked for a screenshot of what the withdrawal section of the platform said. I had already did a copy and paste of what it said but I did follow up with the requested screenshot anyway.
    My account now has $588.60 in it and I can't trade against a 45 pip spread with a 30 min. option. This spread situation was not present during the demo account or the live account till it hit $750.00 mark.

    They state in their FAQ
    "Is there a minimum withdrawal amount?
    You may withdraw any amount up to your remaining balance"

    The withdrawal section of the platform still reads
    "You have reached the maximum withdraw request allowed. If you would like to modify your request go to the "Withdraw Request" and cancel the previous request"
    It still shows my first withdrawal of $100.00 pending as of May 30.
    I have not been contacted by them today and they said on Friday I would be contacted on Mon. morning. They now refuse to answer any emails.
    THIS COMPANY IS A SCAM!!!!!!!!!
     
  2. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
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    First and foremost, stop all trading activity.

    Second, leave a 1 star review (if you haven't done so already).

    Third, notify the broker of this thread. Invite them to participate. Let them know that you will keep it up to date so that the whole world will know whether BO Capital is a deposit-only broker or not.
     

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