GTOptions - Misrepresentation, no service, no product. Anyone else?

[Brigitte Wilke]

I have a 21 page document that outlines problems with GTOptions. In short, there is zero accountability with this organization nor do they want to make any attempt to do what they say or make things right. I have tried over and over again with these people to get some service/call backs/help but to no avail. It has left me with the experience that they are only interested in "sucking you dry financially", and will ignore you if you start to figure this out. I gave them the options to explain things if I am out of line. But that has not happened. I am determined to get my money back or the very least - stop other people from this trap. Can anyone help prepare me for the battle?

 

[FxMaster]

What exactly happened with you?

 

[Brigitte Wilke]

What exactly happened with you?

Had some simple questions and wanted to start SLOWLY. But they told me that small accounts are not worth it...and got coerced to put in more funds, and then more funds, and then MORE funds. They said larger accounts have the " principle guarantee" they list on their website. Also said they will match my funds for better profits but I was not told about being "tied" if they matched my deposits. It didn't take long for my account to grow and make a small decent profit. I then wanted to withdraw most of my original investment even if that meant loosing their matching funds and their share of profits as I was waaaaaaay beyond my comfort level - and stated that in writing with my w/d request. They cancelled it based on "my conversation with my manager". True - he did call me but should not have said things he could not do. (Again, I put my trust in someone who said..."...they are the best.." and that working with them would make me a pro in no time). They promised a "team approach" and had me believe I was not alone. Things just went downhill from there. Now the account has reduced significantly and no one is returning my call/email requests. After 4 times - I just gave up and concluded that I need to fight to get my money back. They should have just let me do the withdrawal like I wanted - I stated it over and over again that I don't want to do this and was very uncomfortable (to which he replied - "...I know your skeptical ...". I know this stuff works but being new at it - I have to learn it my way. Now I'm fighting for believing in something that just isn't like they make it out to be. This "guarantee" that they advertise has sooooo many strings attached to it...why couldn't they just explain that to me up front ? Funny, right after I submitted my complaint to the FPA yesterday, I got a call and their message sounded like they had no idea what was happening...wondering why they had not heard from me. Really? I sent them an email last Thursday to the compliance department outlining my frustration, concern, and ending it with an chance for them to fix it. I gave them 10 days but you would think they would respond as I am sure they were alerted by other associations who they are affiliated with. I wrote these associations my complaint with GTO warning what would happen if things don't get fixed. I'm starting to think this is just a game with them - and I don't want to play by these unfair rules.

Does that help in explaining things?

 

[Pharaoh]

Invite them to come to this thread and explain things.

Also, dates and methods of deposit can be useful.

 

[Brigitte Wilke]

They have been invited to this thread way back in March.

Invite them to come to this thread and explain things.

Also, dates and methods of deposit can be useful.

UPDATE: They have been invited and know about the discussion in this FPA blog. Here is a synopsis of event and dates
Synopsis and Deposit Dates (2016)

Feb 1 -$200 US funds into GTOptions to start a Mini Account

-$250 USD

Feb 5 -$550 USD

Feb 8 -Received $1000 bonus from Company

Mar 1 -$5000 deposit

-Received $5000 Bonus

Mar 3 -$3000 Deposit

Mar 3 -$Received $3000 Bonus

Mar 3 -$1500 Deposit

-$500 Deposit

-Received $2000 Bonus

Mar 4 -$1000 deposit

-Received $1000 Bonus

Total Deposit= $12,000 Total Bonus = $12,000=$24,000 account total for trading

Mar 8 -$10,000 withdrawal request after account reached $26,613.75 (GTOptions cancelled it)

Mar 10 -$12,000 withdrawal request after account dwindled to $14,161.25 (Full amount – GTOptions cancelled it)

Mar 14 -GTOptions called back…Told me I could not withdraw the $12,000 and told me to put in another $1,000 (did not do it and told them to start acting on their Expertise and do what they say)

Mar 16 -GTOptions trades dwindled account further to $9,037. No call back, No service (even after REPEATED attempts for a call back)

Mar 24 -Complaint email sent to GTOptions including a demand note for FULL $12,000 USD refund

May 20 -After a series of emails, calls, and follow-ups to various organizations, a second email was sent to GTOptions compliance department

Currently-pending legal action if no full refund from GTOptions


*Note: Right from the start, GTOptions told me to get involved in their VIP program. This program was where VIP deposits were guaranteed by the company against loss due to their “Trader Protection Insurance” program. Or, at least this is what they led me to believe. They continued to say that this is good because the company is making money when I am making money with trades. I had no trading experience and wanted to start small and slow. But they said that their VIP Team of Experts would help. I put in the deposits…reluctantly. But when the account grew to over $26,613.75, I put in the $10,000 withdrawal request. I was way beyond my comfort level - as explained in my email to them when the withdrawal request was submitted.


After not following through with my withdrawal requests, their “team of experts” dwindled the account down to $14,161.25 from $26,613.75. Since no one was contacting me back, once again, I put in a withdrawal request but this time for the full $12,000 in US funds. They called me and said that I could not withdraw my $12,000 due to their conditions. Feeling trapped, I told them to stop holding back on their expertise and produce results. The account decreased to $9,037. No call back. No service. A complaint email was sent to GTOptions compliance department and a demand for my full refund of $12,000USD.


The above is a summary of events only. More detail is disclosed in a 21 page report confirming emails, trades, dates, et al. In short, GTOptions has left me with the experience that they are only interested in an endless supply of anyone’s money into their trading platform rather than deliver on their customer VIP service (or any service for that matter). Their “Terms and Conditions” although on their website was not given to me to read prior to any trading activity due to being coerced into acting immediately with someone who was out-right lying to me and made me believe they had my best interest at heart.


Do not deal with them!

 

[Pharaoh]

If those deposits are by credit card, have a talk with the fraud department at the card's issuing bank. Explain what's going on and ask about a chargeback. Report back here about what they say.

 

[Brigitte Wilke]

One CC company is looking into it - back in March. They said to allow for 6 weeks. But the other CC company said no way - as they do not endorse or back up ANY binary options/market decisions.

 

[Brigitte Wilke]

I also invited them again to the link as per my email below (3 emails in them in total). I also submitted docs to the GIAMBRONE law firm but to date - no response from GTOptions.

Brigitte
-------------------------------------------------
Re: 2nd Notice: FPA Scam Complaint link
Shepherd Management <onlineorganize@gmail.com>
5:33 pm (4 days ago)
to GTOptions

Dear GTOptions Compliance. Here is proof of my filed complaint against you. You are invited to join the discussion. https://www.forexpeacearmy.com/comm...ice-no-product-anyone-else.44746/#post-243707

Brigitte
______________________________
On Thu, May 19, 2016 at 5:32 PM, Shepherd Management <onlineorganize@gmail.com> wrote:
Dear GTOptions Compliance:

Once again I am letting you know I have written to the FPA and applied to the courts (full details are on their website) in addition to filing with the GIAMBRONE law firm who is familiar with this type of fraudulent activity. The filing application has been accepted and only needs to have the "go" button pushed by me to start action. I have tried numerous times to get some resolution from you back but to no avail.

Since GTOptions has made no attempt to make things right - legal action against you is my only option now.

Regards,
Brigitte Wilke
780-939-4490
Alberta, Canada
______________________________
On Thu, Mar 24, 2016 at 5:40 PM, Shepherd Management <onlineorganize@gmail.com> wrote:
Dear GTO Compliance,

First, I cannot express enough on how disappointed I am with your company's outward physical labeling and what you claim you represent vs. what actually takes place within your organization. What I signed up for was not what you represent. My repeated concerns and feedback requests either go unnoticed, or unfulfilled with "empty promises".

Second, I have initiated transaction disputes with my credit card company and will be submitting a detailed report with them outlining what "I thought I was getting vs. what I was really getting". I have tried to be patient but to no avail. The customer (me) is not happy and is therefore, requesting their money back. The lack of response and accountability that you have emitted to me is what did it. I am not motivated by money - but rather by results - which in reality, has not transpired like you have led me to believe. I expect more from a firm who has my funds which were deposited to you in good faith. Instead, I'm treated flippantly and sporadically...this is how your firm's actions come across LOUD AND CLEAR.

Ironically, Mr. Johnson called me while I was on the phone filing the dispute (I had not heard from him or anyone despite my repeated requests). I believe this phone call to me was a result of a complaint I left the previous day with an outside organization who "approves" of GTOptions. I did call back and left a message on Ext. 252 even though his message said he was going to call back to "talk later". It has been well over 24 hours since then - hence my email to you. Further, negative press keeps surfacing about GTOptions and thus I see no reason to continue our relationship. Do not expect any more trades on my account.

If this is a misunderstanding, it is then in your best interest to make this right. If so, please respond in writing within 10 days. If I do not agree with your response or if you choose not to respond, then I will govern myself and will proceed accordingly.

Regards,
Brigitte Wilke
a/c 424135

 

[Pharaoh]

One CC company is looking into it - back in March. They said to allow for 6 weeks. But the other CC company said no way - as they do not endorse or back up ANY binary options/market decisions.

You aren't asking the CC company to endorse or back up anything. You are asking them to enforce VISA or MasterCard rules regarding fraud. If the broker offers withdrawals and doesn't provide them, that's fraud. If the broker guarantees something will succeed and it fails, the broker needs to provide compensation or else it's fraudulent.

Unfortunately, not all banks are bright enough to get this concept. If you can't convince them, then professional assistance (such as from WinChargeback) may be needed.

 

[Brigitte Wilke]

You aren't asking the CC company to endorse or back up anything. You are asking them to enforce VISA or MasterCard rules regarding fraud. If the broker offers withdrawals and doesn't provide them, that's fraud. If the broker guarantees something will succeed and it fails, the broker needs to provide compensation or else it's fraudulent.

Unfortunately, not all banks are bright enough to get this concept. If you can't convince them, then professional assistance (such as from WinChargeback) may be needed.

Thanks for the tip. I will re-visit the other CC. Yes, GTOptions is certainly fraudulent here! I will keep you posted on what I find out.