GOptions – A Binary Broker That Prefers Attacking Over Resolving Problems

[AsstModerator]

GOptions
A Binary Broker That Prefers Attacking Over Resolving Problems​

FPA members Ruseneca, Tomjersey, and VicChan all reported issues with the GOptions.

GOptions doesn't seem to understand how the FPA works. When Ruseneca's Traders Court case about a dispute over a no-deposit bonus was filed, this is the response I got for inviting them to join the conversation...

Hi
I am William Simmons, Compliance and Dispute Officer at Goptions
We have posted on the subject
We are having our name tarnished for no evident reason
We provided ample evidence as to why the trader has no basis for such a claim
Our terms clearly state what is and what isn't permissible in this regard

If there is something we can do to provide a solution, let us know
We are unable to give someone free money, espeically when not not complying with our terms
The threats made against us by this customer are further confounding and again, we have no means of providing a solution to this request of documentation for tax purposes as this was a demo account and we can't and won't provide official correspondence or authorization for any authority for a demo account as it would. It would not be an official document

In any event, as stated above, we tried to help the customer out. We even offered to provide the alleged 45$ lost here back in a real account if he were to deposit. But this mail is costing us more to write than the $45 he is allegedly owed. So unless this whole thing is tossed, in which case, we would send him $45. Then I see no reason to do much. Again, if this post is removed in full – I will have finance send him $45 and that is just to get rid of this ridiculous claim – nothing more

Regards
William S.
GOptions SUPPORT


Sorry William. The FPA doesn't remove complaints. The FPA's job is to resolve complaints. BTW – How can writing a simple email message cost the company $45?

I went ahead and tried to assist in an email negotiation between FPA member Ruseneca and GOptions. William decided to deal with this by emailing accusations about Ruseneca's mental health. This isn't what I would call a professional negotiating tactic or good customer service.

The posts by GOptions inside of Ruseneca's threads also failed to meet what I personally consider to be reasonable minimum standards of evidence. I believe their aggressive tone make readers less sympathetic to the broker's viewpoint and contributed to a guilty verdict. Had GOptions used a better representative and posted some convincing evidence, I believe it is possible that the case could have either been resolved or ended with a not-guilty verdict.

Instead, after the guilty verdict, the rep came back and posted this...

So long as we gaurantee pricing (where no other binary broker does) and guarantee same day withdrawals (where no other broker does) such claims will never stick as they are false through and through

The second Traders Court case was much more serious. Tomjersey reported that GOptions was not following their claimed same day withdrawal guarantee. Tomjersey said he'd put in £5000, made some profits, and then couldn't get any withdrawals processed.

I invited GOptions to discuss this in the forums or by email. Here's how the conversation went...

HI
We've tried being very cooperative with your site in the past
We see no point
No matter what we say, prove, or explain we're labeled as a scam well before such issues are even brought to our attention
Furthermore, after we've proven that some allegations were complete fallacy or malicious intent to harm, you still labeled us a scam/guilty or what have you
We have no intention of discussing matter publicly on your site any longer
It's a waste of our time
So mark us as a scam and let's move in
OR
Remove such threads UNTIL you get a response from the broker you are claiming has an issue
Leave the thread hidden from public view until a proper investigation was done
That would serve the interest of the broker. It would serve the interest of the customer with the issue as well
But this isn't what you will do as you don't care for the truth
You don't care for justice
You care for ratings
So tell that to your readers
We both know that the public will never see my rant
Let's see if you have the balls to put this public
Have a great day

Jim Avery
VP of Support and Customer Service
GOptions


Instead of immediately publishing Jim's tirade, I decided to try to reason with him and show him how the FPA could assist, if he could prove his case or resolve the issue.

Jim,
Are you sure you are looking at the correct website? Do you see a SCAM label here?

GOptions | GOptions.com reviews and ratings by Forex Peace Army

At the moment, all you have is a small caution warning.

If it makes you happy, I will add your rant to the case thread and move it to the Open Cases folder. I think you would be better served to read the client's complaint in Scam Alerts carefully and address is in a professional manner.

The case thread for the current case is still hidden in a semi private folder. People can complain all they like in Scam Alerts and not much will happen. If the semi private Traders Court case thread moves to the Open Cases folder, that's when it can go to a vote. If enough guilty cases happen, that's when a company gets labelled as a scam.

The whole process is designed to slow down scam findings so that companies have a better chance to address issues. The title of that thread in Scam Alerts can be changed to start with "Resolved" if you can fix the issue. Here's a quick link to show you some of those resolved complaints...

https://www.forexpeacearmy.com/forex-forum/tags/resolved%20issue%2C%20.html

Other edits are possible if you show that the client is somehow deliberately abusing the system. See these two threads for examples...

https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/33043-unconfirmed-octafx-problem.html

https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/33465-probable-false-complaint-against-exness.html

You can try to stand up for your company or you can sit there and hide your head in the sand. It would be unfortunate if your company got an undeserved scam finding. If it does happen, it won't be because I didn't personally give your company every possible chance to avoid it.

The choice is yours.
Best regards,
Bill

Jim didn't see things my way...

With all due respect, this was a crock:
Client didn’t win, didn’t trade the required volume, and didn’t even make a deposit so can’t even claim a loss - yet we’re guilty ?!
Seriously ?!
We will not help in any manner so long as this sort of thing is public and casts a false image of both the situation and the facts.

(This part was an image of Rusenca's review with a GUILTY label)


My reply...

Jim,

With all due respect...

1. Your representative did a very poor job presenting your company's side of the issue. The basic line of the final response was that the company wouldn't bother to continue the discussion or deal with any unanswered questions.

I suggest you carefully re-read both threads. Consider how a more professional response could have probably prevented the case thread from ever moving to Open Cases for comments and a vote...

https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/27699-www-goptions-com-scamming-unfair-practices.html

https://www.forexpeacearmy.com/forex-forum/guilty-verdicts/27700-guilty-case-2013-122-ruseneca-vs-www-goptions-com.html

2. Tomjersey (Tom Nxxxxxxx) has an issue which doesn't involve simple disputes over a bonus. He can't access his account and his money. Have you read the thread yet?

https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/33551-goptions-scam.html
For the sake of argument, let's assume that Ruseneca's case should have gone the other way. Even if you did end up with an undeserved Guilty verdict, is that an excuse to not address a new and much more serious issue?

You don't have to post in the forum. I've already offered to mediate this by email. Tom's already tried to communicate with your company and can't get a response. Is Goptions going to let him have his money?

Or, should I tell people that Goptions and you personally feel justified taking thousands of Euros of Tom's money because you don't approve of the verdict on another trader's issue involving less than $100? If I do, I'll also be obligated to point out Goptions blocking Tom's access to his money began before the FPA was involved.

I prefer not to give scam findings. I don't even like taking Traders Court cases to a vote. Both of those processes require a lot of time and resources. I prefer to see clients and companies both end up happy, plus it is much easier to mark a thread as resolved. For companies that take money that is legitimately owed to traders, I'm willing to put in the work necessary to warn people.
Regards,
Bill

Jim didn't bother to reply. I can only conclude that he thinks it was perfectly acceptable to keep Tomjersey's money, whether or not the FPA got involved.

When the third Traders Court case was filed, I invited the company again. Jim's reply was...

Hi
We will not discuss this while there's a public thread aimed at destroying our name. We've explained our position in 2 desperate ocassions where you found us "guilty" despite no evidence being provided. So pardon us and our lack of need or desire to discuss this publicly. Again, remove the thread and you have a deal. Keep it public and you can enjoy the yellow journalism based traffic. Regards

Jim A.


I'm sure Jim will read this sooner or later, so I saved my reply for now.

Jim,

The FPA has every intention of helping to resolve each of the issues in a fair way. You and other employees of GOptions.com made sure this couldn't happen. The Scam Finding from the FPA is the direct result of a series of actions and inactions on the part of your company.

Instead of discussing things in a civilized manner, your representative in the first case decided that attacking the client in the forums and email. Assaulting anyone who disagrees with you isn't the way to get to the truth.

In the second case, you chose not even to examine the issue of a client who could not access his own deposit or profits. Instead, you threw a temper tantrum over how unfairly you felt the company was treated in the first case. I thought about pushing for a Scam Finding based on the extremity of the second case. Instead, I chose to give GOptions one more chance show that the company could fix issues instead of just attacking clients and the FPA.

Then a third case came up. When presented with that final chance to try to fix a client's problem, you decided that accusing the FPA of yellow journalism was better than trying to explain or resolve a client issue.

The FPA looks at available evidence. It is not the FPA's fault that you and others at your company chose to skip providing useful evidence. Members are instructed to vote based on available evidence.

Because of all of the above, you leave the FPA with no choice but to issue a Scam Finding against Goptions.com. I regret that you and your fellow employees at Goptions made this necessary.

Regards,
Bill


The FPA now considers GOptions.com and all related companies and websites to be scams. If you don't have an account there, the FPA recommends against opening one. If you do have an account there, the FPA recommends trying to withdraw your funds as quickly as possible.




FPA Scam Finding Against GOptions.com

Ruseneca's original complaint against GOptions

Ruseneca's Traders Court case against Goptions.com

Tomjersey's original complaint against GOptions

Tomjersey's Traders Court case against Goptions.com

VicChan's original complaint against GOptions

VicChan's Traders Court case against Goptions.com

FPA Review Page for GOptions

 

[basepitcher]

The guilty always cry the loudest instead of correcting their crooked ways and never tell where the money really is!

 

[Pharaoh]

Attacking anyone who points out flaws or asks questions is a common tactic used by scammers to try to hide or reduce the impact of having those flaws revealed or having those questions asked.

 

[Master Yoda]

Generally speaking, I can't see one single options company who can be qualified of any FPA standard. The reason is that they are working on traders loses, and if they are honest enough they will have to shut down once they can't pay anymore, and if they are not honest they will just avoid paying traders.

In other words, this is a casino.

 

[Prem Kumar Ramamurthi]

Options trading is in it early stages. It requires lot of progress and standardization.
This might take sometime or even more. Till then the brokers have strong upper hand over the traders who make profits and say some rules to stop paying them

 

[tomjersey]

Very interesting. I've got the bank statement that I deposited the money with them. They never process the withdrawal they've stolen £5000 which I've deposited + there's some 800 profit on the account. I know few other people who invested similar money with them and they behaved exacly in the same way. Kept, stole the investment, no reply, blocked access to the account.
I've tried to contact them many times they never replied. Some of the evidence has been provided in the traders court so you guys can decide whether it's a scam company or not. If that were a demo who would bother spending time and gathering all the evidence and place it here?

They are blocked, marked scam not only on this forum but other forums as well. They are stilling money from whoever invest in there.
Beware some fake forums were negative comments are removed about them like this one Binary Options PIMP

 

[Master Yoda]

Beware some fake forums were negative comments are removed about them like this one Binary Options PIMP

If what you say is true it maybe means that this kind of sites are blackmailing the broker so they can remove negative comments, or it's a "sponsored" site

 

[tomjersey]

I think Mike Freeman creates them or is connected to them as he recommends this site here Binary Options Forum - Binary Options Portal.
I think he makes money from that. Another one is Binary Options WatchDog! Fighting Scams. Protecting the Industry!. Look at trusted brookers. Goptions is there.
I guess there are much more websites like that so guys beware

 

[ruseneca]

I will once again express my sincere apologies to GOptions for being mentally ill person and attacking their lies with real proofs which led people take my side of the whole story. My case was just pointing to what will happen...After faking the real story and providing false information, they started blackmailing me with $45 sent directly to my Skrill account in case I close the case and post that the fault was mine, not theirs. It was the sign that I will never have my account reactivated and I will never receive any official tax document or confirmation that my account is closed. I did not understand what was that call to make the deposit ASAP and verify my account when such deposits are processed with a real account, not demo ones. I did not received an official statement what happened my documents which I sent to verify my account...just nothing!
They completely deserved the scam finding by the time I opened my case...

Generally speaking, I can't see one single options company who can be qualified of any FPA standard. The reason is that they are working on traders loses, and if they are honest enough they will have to shut down once they can't pay anymore, and if they are not honest they will just avoid paying traders.

In other words, this is a casino.

I completely agree that they operate as a casino. The main difference is that we can predict the final result. More winners, more withdarawals...it is not a benefit for them to have winning traders, they prefer the losing ones. That's the reason to treat us as rubbish.

 

[tomjersey]

I will once again express my sincere apologies to GOptions for being mentally ill person and attacking their lies with real proofs which led people take my side of the whole story. My case was just pointing to what will happen...After faking the real story and providing false information, they started blackmailing me with $45 sent directly to my Skrill account in case I close the case and post that the fault was mine, not theirs. It was the sign that I will never have my account reactivated and I will never receive any official tax document or confirmation that my account is closed. I did not understand what was that call to make the deposit ASAP and verify my account when such deposits are processed with a real account, not demo ones. I did not received an official statement what happened my documents which I sent to verify my account...just nothing!
They completely deserved the scam finding by the time I opened my case...




I completely agree that they operate as a casino. The main difference is that we can predict the final result. More winners, more withdarawals...it is not a benefit for them to have winning traders, they prefer the losing ones. That's the reason to treat us as rubbish.

Statistically speaking 90-95% loose money in this field so even if they are few winners and as long as they transfer the money (don't make excuses, or play tricks) to successful traders is okey. The problem might arise if they come across very good traders. In this case as long as they pay out the profit and say we don't want you to trade here is fine. Stockpair , gomarkets and probably ig index (I haven't tested it, lost money there) are like that. They don't manipulate, don't play dirty tricks compare to any techfinance, spotoption platforms where they will start tweaking your account if they see you are successful (some of them pay out the profit which is fine). If you are too good they will block your trades, reduce max trade size to min for example $5 or close your account. Some of them don't even thank you for trading with them but will payout out the profit at the end which is fine. In this case they can work like a casino and even admit to that. Saying "your success is our success" (see for example on the website regulated optionweb) to some extend might be true if you dont' make too much profit (maybe 1-5k a month, I don't really know what is the limit to stay below the radar) but if you are great, have successful week, month and want to make more money on regular basis for example 5-10k a month or more the above sentence is bull****. They will start playing tricks with you otherwise they would go bankrupt or you would reduce the companies profits

I don't understand companies like goptions who steal your investment. Not only they earn money from looses, volume. But not sending the investment back ? They are greedy thieves. I can sympathize with them what they've created. Whatever you send, do to others it will come back to you with greater force whether you are aware of that or not. If they read that they can laugh from that because they don't understand that, they are not aware of that haven't experiences that yet. Their comfort, lifestyle is above everything else. Probably they driving a luxury cars have huge houses earned by ripping off, scamming people. Can you be really happy, satisfied if you do that to others in the long run?