GUILTY Case# 2014-112 | tomjersey vs mhoptions.com/

Based on the available evidence, do you believe that MHOptions.com is guilty?

  • Guilty

    Votes: 50 100.0%
  • Not Guilty

    Votes: 0 0.0%

  • Total voters
    50
  • Poll closed .

tomjersey

Corporal
Messages
115
Original FPA Traders Court Submission:

I am submitting the case against: mhoptions.com/

My Case is: Rob Miller from TopOption phoned me and said that he went to a different company and wanted me to have a go with a new binary platform. I said to him I don't know the company. It doesn't have any regulations. I know you and I trust you so I decided to invest some money (£2500). After 2 weeks of trading when I got to about £5500 and wanted to withdraw the investment and some profit. When I placed a withdrawal they blocked access to my account and transfered only the initial investment without the profit

My account manager Rob Miller replied (email in attachment):
I just heard back from the risk department today. I'm very sorry about this. This could have been the same analysis that other companies' risk departments came to and blocked your trades. Again this sucks and I wish I could do something to help because I do value you as a good client. But here is what they said:

Please advise the client that:

a) We strongly believe that he’s using a bot, which is against our T&C. The continuous trading hours, trade cancel rates as well as trading frequency (amongst hours) support this claim

b) While he provided us a proof of residence in Guernsey all his trades originate from Poland (IP) which leads us to suspect that the provided proof of residence is a front

c) We have therefore decided to refund the client his full investment and to block the account

Rob

I provided them with the documents where I'm registered and is correct I have bills. I go abroad form time to time. They can send a letter to the address I provided them with and send a code. I will reply to them that code for extra verification to check the address like payapal does. I ask some regulated companies about different ip address and they said is not a problem and never had issues when it comes about withdrawals from them.

Another thing I don't understand explanation about bot. Has anyone come across any profitable bot in binary?

All above are just excuses not to pay out the profit.

New thread in the Scam Alerts Folder:

Review is submitted by Tom Nalichowski on 05/07/14

The company was first contacted about the issue on 06/10/14 the last contact was on 06/27/14

Details: a) We strongly believe that he’s using a bot, which is against our T&C. The continuous trading hours, trade cancel rates as well as trading frequency (amongst hours) support this claim

b) While he provided us a proof of residence in Jersey all his trades originate from Poland (IP) which leads us to suspect that the provided proof of residence is a front

c) We have therefore decided to refund the client his full investment and to block the account

Proof of the residence is correct. I've got bills from there which I have provided them with and they say I'm verified. I go abroad from time to time.

Company representatives' emails: <rob.miller@mhoptions.com>
<support@mhoptions.com>

 

Attachments

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  • Ashampoo_Snap_2014.06.06_22h00m01s_011_.jpg
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Personally, I think the excuse is lame, but it's best to cover all the possibilities so that no one can come back later and say evidence supporting the broker's positon was not fully considered.

Was there any type of automatic trading? If so, does MHOptions specifically forbid this?

If not, was there trading across a broad enough range of hours to resemble automated trading?
 
Personally, I think the excuse is lame, but it's best to cover all the possibilities so that no one can come back later and say evidence supporting the broker's positon was not fully considered.

Was there any type of automatic trading? If so, does MHOptions specifically forbid this?

If not, was there trading across a broad enough range of hours to resemble automated trading?

I never use any bots. There aren't any successful. I sit in front of the computer for 2-10 hours observing the charts and enter trades. Since a while I've started placing lots of short term trades 90 sec 120 sec using hedging and I'm very successful. I haven't seen anywhere that there would be a limit of trades placing a day. They allow short term trades but it looks like if someone is making profit by placing lots of them they consider him using a bot as a excuse not to pay out the profit. It would be great if people who buy scam programs, bots loose money with them - being refundable by the binary company. It looks like it works only one way. I myself lost money because of scam programs, bots in the past.
 
So it was only 2-10 hours most days? If so, that makes the "looks like a bot due to the hours" a completely failed attempt at an excuse.
 
So it was only 2-10 hours most days? If so, that makes the "looks like a bot due to the hours" a completely failed attempt at an excuse.

I don't know how the bots works but I usually sit in front of the computer and trade 2-10 hours a day. I think mostly, average about 6. I never counted that. During that time I place from let's say 30 - 150 trades a day, 60-120 sec.
I recorded some of my trades so you want find any bots there. Like I said another excuse by binary company. They thought me not to invest much and in a short time up two weeks I can check every binary platform. In the past I had spent more time and it appeared that the platform didn't pay out the profit. Lost about 1-2 months of trading and time.

Do the bots work all day long? How the bots work ?
 
Bots run automatically, so can trade anytime the market is open.

Sounds to me like you're a bit of a trading addict, but that's not a crime in my book. ;)

Yo AsstMod! Please assign a case number and send a formal invitation when you have a moment.
 
Bots run automatically, so can trade anytime the market is open.

Sounds to me like you're a bit of a trading addict, but that's not a crime in my book. ;)

Yo AsstMod! Please assign a case number and send a formal invitation when you have a moment.

I sent them this link when I opened this case but nobody has answered
 
They just got the formal invitation from me. Let's see if they bother to answer or not. Please post an update here and in your Scam Alerts thread on Saturday if you haven't heard back from them.
 
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