GUILTY Case#2013-144 | MOHAMMED MINHAJ vs www.ioption.com

[MOHAMMED MINHAJ]

Original FPA Traders Court Submission:

I am submitting the case against: www.ioption.com

My Case is: Hi, I have been cheated by this company Ioption ( Binary option trading ). Account manger from this company name OSAMA call me many time since one year, i told him that i don't have time and i am not interested but he assure me that he will do the trading on behalf of me and can create the profit up to 35% every month. I invest 1000 USD and the company gave me 500 USD bonus. Osama open many positions and the amount was going down, when i ask him he assure me that my money is safe & when i request for withdrawal there was no reply and my withdrawal was pending more than a week. I contact them many times but there was no reply from Osama or the customer support & when i went to the live chatting they told me that i lost the money and they cannot pay me the amount i invested. I contact them many times since one month but no one is showing any response and they are just playing with me. I have all the call recording of conversation with osama about all the promises he made. PLEASE HELP ME GET BACK MY MONEY.

MY ACCOUNT NO WITH THIS COMPANY : 176515


Kind Regards

Mohammed Minhaj
00966503347408

New thread in the Scam Alerts Folder:

• https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/28460-www-ioption-com.html
  

Review is submitted by OSAMA on 09/23/13

The company was first contacted about the issue on 09/23/13 the last contact was on 10/25/13

Details: THEY ARE JUST TELLING ME THAT ONE THE CUSTOMER SUPPORT WILL CALL BUT NO CALL ON MAILS NOTHING.

Company representatives' emails: OSAMA <osamah@ioption.com>

 

[Pharaoh]

I have an idea or two on getting your money back. I'll post in your thread in scam alerts in a few minutes.

 

[Pharaoh]

Yo AsstMod, there's some sort of rumor that iOption is going under. Can you please issue a formal invite ASAP.

 

[AsstModerator]

I've just emailed a formal invitation to iOption to join the discussion in Scam Alerts.

 

[AsstModerator]

There was no reply from iOption. This is moving to Open Cases.

 

[Master Yoda]

There are very strong rumors that this company is closed.

 

[George Mcall]

There are very strong rumors that this company is closed.

If they are closed I think that we need to look at their conduct and the persons behind the company. The website does not suggest that they have closed.

I am a little concerned by the note on the bottom of the front page. It reads:

Important note: Binary option trading, although can be very profitable, may also involve a significant risk of losing your investment.
Copyright © 2010 iOption™ - All rights reserved to Scorpid Trading Limited I.D.E. IOANNOU COURT 13 & 15 Gregoris Afxentiou Street Office 105, Mesa Yeitonia, P.C. 4003 LIMASSOL CYPRUS
iOption™ is the most advanced binary options trading platform in the market today. We are offering our investors and traders a much diversified portfolio of underlying assets including but not limited to: Stocks, Commodities, Indices and currencies (Forex). Our platform is ideal for day traders, brokers and investors wishing to maximize their earnings by working from home or workplace. Please note that the option price/quotes that is offered by us is not necessarily the real time of the underlying asset but rather the price that iOption™ is willing to offer the relevant option. Results depend on real-time asset prices, option expiration time (10 minutes to 30 days) and you may forfeit a portion of your initial investment if the trade expires out-of-the-money. iOption™ consulting services Ltd. are not authorized by the FSA to conduct financial services business in the UK or to accept business from persons in the UK

They are registered in Cyprus and like the UK both are members of the European Union. Under the various treaties there must be a level playing field for all European citizens and clear excluding person from the UK is not creating that level playing field. The next question is why cannot they not accept people from the UK. It maybe the the FCA (as it is now known) has prohibited directors from offering services in the UK.

Thus all in all this looks like a scam and I shall be voting guilty.

 

[George Mcall]

I have come across an interesting article in Leaprate and here is a link:

iOption closed down ? the real story - Forex | News | Regulated | FX Brokers | Binary Options | LeapRate - Forex Industry News

It does suggest that there is some credibility behind the persons promoting the company. However anyone who treats customers in the way Mohammed has been treated must be regarded as running a scam. You simply do not run litigation against your partners at the expense of your customers. Thus my vote of guilty stands.

 

[MOHAMMED MINHAJ]

Thanks for your vote George, I don't know what i do next.

 

[Master Yoda]

I have come across an interesting article in Leaprate and here is a link:

iOption closed down ? the real story - Forex | News | Regulated | FX Brokers | Binary Options | LeapRate - Forex Industry News

It does suggest that there is some credibility behind the persons promoting the company. However anyone who treats customers in the way Mohammed has been treated must be regarded as running a scam. You simply do not run litigation against your partners at the expense of your customers. Thus my vote of guilty stands.

Actually the other rumor I heard is that the owner of ioption is also the owner of another scam fx company

Here's another article regarding ioption shutdown http://www.dailyforex.com/forex-figures/binary-options-2/ioption-closes/1319