Greenzone-options scam

therocketman

Private
Messages
18
I opened an account with Greenzone-options through the affiliate link of Torii Signals. I was using their signals at the time , but found them unstable, so decided to try Greenzone's Pro Trader programme. I invested $5000 on July 17th. which was then to be traded by a "pro trader" called Gavin Miller for a contract period of 3 months. On their portfolios, the traders boast an average success rate of approx. 85%. To those of us that trade binaries, that means an average win rate of 8/10 trades.
Within the first 2 weeks I had written to my "account manager" expressing my concerns about his success rate, which was around 50%, and the level of risk he was taking with each trade. He was also taking 60 sec. trades, which are the riskiest. As I analysed the trades over the following days, I began to think that this was not a real trader, but a robot. It seemed impossible to make successful trades so close together in time without using some kind of bot.
Greenzone's support response is incredibly slow, sometimes non-existent, unless of course you want to deposit money - then they respond straight away. They used to have "live chat" on the webiste, but this is no longer available.
Greenzone are completely unregulated, either by SYSEC or by the FCA in the UK. They don't give contact numbers of account managers, and are almost impossible to get hold of. They boast a registered address in the UK, but it is just a postal address, and that's all. When I eventually got a call from an account manager, she wouldn't identify herself, she wouldn't say where she was calling from, and wouldn't give me a contact number.
She assured me that she would get the trading department to give my account their attention, but I should not worry, and I would be pleased with the results at the end of the term.
After the call, nothing changed. The trader continued to expose more than 20% of my account with each trade, and his success rate was consistently low. At its peak, he had managed to get my account up to $23,000.00 but from then on it went rapidly downhill, and he consistently lost day by day.I sent repeated emails to support, and they replied by saying their traders "do their best ". I asked them several times to instruct him to reduce the level of his trades, because it was still a dangerously high percentage. This was ignored, and he rolled on, and downwards.
Fast forward to last week, Friday October 9th. My balance was down to $9926.00 at the start of trading. At the end of trading my balance was $26.00 !! His first trade was $1650.00 !! His last trade ( my balance was then $1226.00 ) he traded $1200.00. I think everyone will agree this is kamikaze trading, and is no way the work of a professional.
You can only conclude that it was their objective to trade my account into oblivion. Over the whole trading period, the total trading volume was almost $294,000.00 !!! So, guess what ? Greenzone made money out of this, because they make money out of volume. I tied up my money with them, and ended up negative $4974.00.
I believe these brokers should not be allowed to trade in any country, because they are not professional, and that they are incompetent, negligent, irresponsible and fraudulent. Tell the whole trading community what these people are like, and do not risk a single penny with them.
I am asking them for explanations and compensation, but so far I've had no word of reply.
 

FxMaster

Lt. Colonel
Messages
9,549
Lets start with inviting them to join this thread, Send them email about this thread and ask them to explain here.
 

Pharaoh

Colonel
Messages
19,964
Binary brokers don't make money on volume. They don't have liquidity providers. Your losses are their gains and their gains are your losses.

Combine minimum trade volume with the big difference between a losing and winning trade, and it's a recipe for milking cash out of clients.
 

therocketman

Private
Messages
18
I've sent Greenzone a link to this thread, and asked for a response, but so far complete silence.
I've been contacted by Phoenix Advisors Ltd. What's the latest view of the forum on this company ?
 

Pharaoh

Colonel
Messages
19,964
I've seen Phoenix try to assist with credit card chargebacks (something worth trying yourself first). I see claims of lawyers, but haven't seen anything showing an actual legal case yet.
 

therocketman

Private
Messages
18
On Thurs. Oct 15. Greenzone wrote to me " Once we sort everything out and come up with the solution, we will inform you." Watch this space guys
 

Pharaoh

Colonel
Messages
19,964
Be careful before agreeing to any resolution. Some binary brokers offer generous "compensation" to be placed into an account. Only later does the trader find out that this compensation is just a bonus with extremely harsh terms designed to prevent withdrawals of money.

Make it plain that the situation is not resolved until whatever money you are owed is safely in your bank account.
 

therocketman

Private
Messages
18
Greenzone continue to stall me, and keep saying they're examining data. You only need to look at the data for 5 mins to see what has gone on. I've contacted my bank's fraud section. Think things need to be escalated !
 

therocketman

Private
Messages
18
GreenZone have replied " We will definitely resolve this within a couple of weeks " Why don't I believe them ?? Can we escalate this within the forum ?
 
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