FALSE CLAIM - Hex Options - UNETHICAL PERSON WITH CHANGING STORY

Che Guevara

Banned
Messages
5
Total scam.

Dodgy serviced offices London address, think they are abroad, bad telephone line all the time. They dont even answer the phone most of the time.

Dodgy binary brokerage offering a managed account service but they dont tell you about the trading volume requirements prior to opening an account properly. They say that you can withdraw after around 12 months, the reality is that it will take several years of them trading before you can withdraw any funds.

Investors beware. This strikes me as just another unregulated boiler room scam where they will make you money during the bonus period and then lose you all your money before you can withdraw

Che.
 

FxMaster

Lt. Colonel
Messages
9,154
Total scam.

Dodgy serviced offices London address, think they are abroad, bad telephone line all the time. They dont even answer the phone most of the time.

Dodgy binary brokerage offering a managed account service but they dont tell you about the trading volume requirements prior to opening an account properly. They say that you can withdraw after around 12 months, the reality is that it will take several years of them trading before you can withdraw any funds.

Investors beware. This strikes me as just another unregulated boiler room scam where they will make you money during the bonus period and then lose you all your money before you can withdraw

Che.
It will be good if you can share more details about your issue with them.
 

Che Guevara

Banned
Messages
5
I have looked into this firm and binary options managed accounts in general frankly on behalf of a family friend who has been contacted by them last year and who has far less market experience than myself.

Unfortunately my findings are very negative when it comes to binary options managed accounts and frankly there is a plethora of information online from the likes of Tony Hetherington who frankly would like to see binary options regulated by the FCA or even banned.

http://www.thisismoney.co.uk/money/...-2k-week-Stay-clear-binary-options-firms.html

I have unfortunately been burned in the past by scams and would advise all but the most sophisticated investors to stay clear of unregulated investment companies especially if they are new companies like this one and are based at serviced offices.
 

FxMaster

Lt. Colonel
Messages
9,154
Few steps that you must follow to draw their attention on your issue,
Follow the suggested steps below:

Invite them to join this thread via email (Send an email to every possible address).

Go to their website and invite them to here via Live Chat

You will find their email and address here http://hexoptions.com/contact

Also, Share your story as a review here http://www.forexpeacearmy.com/forex-reviews/13409/www.hexoptions.com

Note: Don’t forget to update your review/s when you got solution of your problem
 

karendavis58

Recruit
Messages
4
Total scam.

Dodgy serviced offices London address, think they are abroad, bad telephone line all the time. They dont even answer the phone most of the time.

Dodgy binary brokerage offering a managed account service but they dont tell you about the trading volume requirements prior to opening an account properly. They say that you can withdraw after around 12 months, the reality is that it will take several years of them trading before you can withdraw any funds.

Investors beware. This strikes me as just another unregulated boiler room scam where they will make you money during the bonus period and then lose you all your money before you can withdraw

Che.

Im new to binary options trading and I have had an account with hex options for the past 8 months without any issues. However I trade my own account as oppossed to a managed account and therefore cant speak for anyone who has a managed account with this or any other company.

I am quite intrigued to hear about your experience with hex options, did you or your family friend actually have an account with hex options? If so was it a managed account and can you give any specific details of the experience and service you recieved.

I have a few additional questions that id be gratful if you or anyone else on this thread can help with, as I have found conflicting information on binary options in the UK.

1. Are binary options regulated in th UK and if so by whom?
2. what are the pros and cons of having a managed account?
 

Pharaoh

Colonel
Messages
19,840
Amazing how "happy clients" keep parachuting into threads like this.

About your questions.

1. Other than useless FCA passports based on other EU regulation (much of it useless), the only real regulation of Binary Options is with the UK Gambling Commission.

2. If you mean in binary, see answer #1. It's gambling. Would you pay someone to play roulette using your money? Would you consider letting a casino employee place wagers for you in order to give you a better chance of winning more money?
 

karendavis58

Recruit
Messages
4
Never said I was a "happy client" simply said I haven't had any issues trading my own account, and that I don't have a managed account service and so cant comment or give any feedback.
Hence the reason I'm asking if anyone else has a managed account with Hex Options who can give details of their experience?

1. So again are you saying binary options is regulated in the UK by the UK Gambling Commission? are you sure? I'm still confused! Regulated in the UK or not? Because I have read somewhere that the FCA have handed it to the UK Gambling Commission to regulate it and they refused

2. Could you explain how to me how a managed binary account is the same as a roulette table? Surely someone with trading experience and knowledge in the markets has a better chance of success than a casino employee on a roulette table?

3. If the UK Gambling Commission regulates binary options in the UK, can you recommend a company to me in the UK who are regulated?
 

Pharaoh

Colonel
Messages
19,840
Logic would suggest that anyone who isn't a happy client wouldn't bother to create an account solely to defend a broker against issues someone else is reporting. It's not like someone who never had issues with their cell phone provider would bother to leap into a complaint from someone who does have issues.

1. The FCA handed it off to the Gambling Commission and made it very plain that the FCA has no intend to regulate BO. If the Gambling Commission wasn't interested, that would mean that there are no fully regulated binary firms in the UK.

2. Binary is like roulette. Bet red or black (long or short) and wait 1 minute while the wheel spins. If you win a 100 wager, you get $60-90. If you lose, you lose 100. In this alone, real casinos show far superior payouts. As with a real casino, everything (including employee salaries) is paid for with money clients bring in and don't carry out. The biggest difference is that if you get lucky at a real casino, they are happy to let you walk away with your winnings.

Would you tell your friends or relatives it's a good idea to trust a casino employee to be their "wager manager" and place bets for them?

3. Are you in the UK? As mentioned above, I don't think any binary companies have anything above a useless passported license (nearly all originating from Cysec) there. I personally recommend against placing 1 cent with any binary company. If you wait a few years, eventually a tiny handful of honest and well regulated ones may emerge.

You should also watch this:

 

karendavis58

Recruit
Messages
4
Logic would suggest that, but as I am not defending any broker, I don't feel that logic apply's in this instance. I have been offered a binary options managed account and decided to do some research before making a decision. When I searched hex options managed account this review on forex peace army came up, so I created this account solely to get some advice on managed accounts from people with actual experience of a managed account. Thank you for the video, it was very interesting and informative.

Yes I am in the UK so maybe I will wait a few years for the regulated ones to emerge, can you recommend a good regulated FX company? Is REMOVED a good company?

FPA Forums Team Note: Do not ask for company recommendations in Scam Alerts.
 
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