Amin EL-HAKIM
Master Sergeant
- Messages
- 306
Original FPA Traders Court Submission:
I am submitting the case against: www.odmarkets.com/
My Case is: For the first time in the business, an FSP licensed broker offering 30 seconds trades (they call it gold options) claims abuse. ODMARKETS offers 30 seconds Gold Options. As usual, options close at a predefined time, however the difference here is the profit isn't predefined. It means that on a market run of 100 pips, you can win or loose 100 pips and you can do nothing about it. Yet, after being extremely successful, they claimed abuse based on their terms and conditions. Funny thing is, their terms and conditions do not have anything to say about that. I leave you with the verified statement http://www.fxblue.com/users/odg. FSP and NZ authorities have been contacted didn't reply for over a month leaving me no choice but to file an FPA case.
P.S: I had a forex account with them with nice results too but not that formidable, since gold is a true runner. That one is disabled also after 35 days of trading and claimed to be abuse. Please check attachment email1.pdf to see that they have reviewed the account and then emailed me that I can trade normally, only to disable it again and send me the email in the attachment email2.pdf.
New thread in the Scam Alerts Folder:
Review is submitted by Amin El Hakim on 05/06/15
The company was first contacted about the issue on 03/19/15 the last contact was on 05/06/15
Details: Hi Amin,
First and foremost, sorry for getting back late to your email as our support was discussing your case with our operation and legal team.
In regards to email reply by support, I like to correct the statement that your withdrawal request to Neteller amount of 500USD is indeed your initial deposit.
After thoroughly reviewing both of your trading account - forex and gold option, we regret to inform you that have violated our terms and condition as written in customer agreement form.
Therefore, we will be return your initial deposit, all profit gained through this period will be revoked and your MT4 account will be disabled permanently.
Since we processed withdrawal of 500USD on 18 March, we will consider that as initial deposit funds return back to you.
Please be duly informed.
Company representatives' emails: ODMarkets Support <support@odmarkets.com>
ODMarkets Finance <finance@odmarkets.com>
I am submitting the case against: www.odmarkets.com/
My Case is: For the first time in the business, an FSP licensed broker offering 30 seconds trades (they call it gold options) claims abuse. ODMARKETS offers 30 seconds Gold Options. As usual, options close at a predefined time, however the difference here is the profit isn't predefined. It means that on a market run of 100 pips, you can win or loose 100 pips and you can do nothing about it. Yet, after being extremely successful, they claimed abuse based on their terms and conditions. Funny thing is, their terms and conditions do not have anything to say about that. I leave you with the verified statement http://www.fxblue.com/users/odg. FSP and NZ authorities have been contacted didn't reply for over a month leaving me no choice but to file an FPA case.
P.S: I had a forex account with them with nice results too but not that formidable, since gold is a true runner. That one is disabled also after 35 days of trading and claimed to be abuse. Please check attachment email1.pdf to see that they have reviewed the account and then emailed me that I can trade normally, only to disable it again and send me the email in the attachment email2.pdf.
New thread in the Scam Alerts Folder:
Review is submitted by Amin El Hakim on 05/06/15
The company was first contacted about the issue on 03/19/15 the last contact was on 05/06/15
Details: Hi Amin,
First and foremost, sorry for getting back late to your email as our support was discussing your case with our operation and legal team.
In regards to email reply by support, I like to correct the statement that your withdrawal request to Neteller amount of 500USD is indeed your initial deposit.
After thoroughly reviewing both of your trading account - forex and gold option, we regret to inform you that have violated our terms and condition as written in customer agreement form.
Therefore, we will be return your initial deposit, all profit gained through this period will be revoked and your MT4 account will be disabled permanently.
Since we processed withdrawal of 500USD on 18 March, we will consider that as initial deposit funds return back to you.
Please be duly informed.
Company representatives' emails: ODMarkets Support <support@odmarkets.com>
ODMarkets Finance <finance@odmarkets.com>