AsstModerator
FPA Forums and Reviews Admin
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I've just sent the formal FPA invitation. If there's no response, this will get moved to Open Cases.
GUILTY Case# 2015-180 | Amit Sadh vs interactive-option.com
- Thread starter Amit Sadh
- Start date
olaaka carlos
Private, 1st Class
- Messages
- 42
Interactiveoption are thugs fraud stars just switch to REMOVED
Moderation Team Note: Naming another broker here would permanently tie that broker's name to this complaint.
Moderation Team Note: Naming another broker here would permanently tie that broker's name to this complaint.
simmo196326
Recruit
- Messages
- 5
I have had big issues with Interactive Option, They do not answer any complaints. I have sent many, most regarding the fraudulent activities of a trader who now no longer works for them. Following his guidance, I lost nearly $13000 USD, and to meet the bonus trading requirements, due to the fact that this trader deposited $16000 USD into my account, telling me that I could make a withdrawal at any time, which was not correct.
I have to trade $640000USD before accessing any money. The only help that has been
offered to me is for me to deposit a minimum of $5000 more to help me trade out of this
situation. Another trader wanted me to deposit $20000 into a managed fund.
simmo196326
Recruit
- Messages
- 5
I am now in the process of filing a complaint with the Financial Ombudsman in Cyprus.
Arsus Kickus
Private, 1st Class
- Messages
- 31
Unfortunately, what you are describing is not unusual behaviour for a Binary Options broker. There are always withdrawal delays because, like any pseudo-Ponzi scheme, they need people to deposit funds into their "funding bucket" before they can return funds to those who request withdrawals. Also not unusual from what I have read on this forum, are the random large trades that appear in your account upon receipt of a withdrawal request -- particularly if you have signed up to their "managed trading" program and have given them permission to trade your account on your behalf. Shockingly enough, these trades usually close out of the money so that your account balance is pretty close to nothing.
You requested a withdrawal on 16 Nov. Two trades were placed on your account for $285 on 29 Nov, within 15 minutes of each other. One for DAX (long term, in the money @ $495) and one for LUKOIL RS (out of the money). Based on this activity, It appears as though they did not suspend trading on your account when they received your withdrawal request, AND they then changed the amount that they invested per trade from $20 to $285. The timing of the change in investment amount is most dubious (and is certainly not backed by historical precedence) as are the actual trades themselves.
However, I am confused as to how your account balance can be $7 though. All your screenshots indicate "Page 1 of 1" so, I assume that all of the activity in your account has been captured? If so, I see $600 deposited, less $650 investment costs, plus $531.50 Payouts = $481.50 net balance. Perhaps this is why they cancelled your withdrawal request of $577 because, by the time they processed the request, your request exceeded the account balance? Were additional trades made that you have not documented that further depleted your account?
If you had a broker managed account then, technically, you did not rescind any power of attorney (was there such a document even in the first place?) over the account in writing at the same time as making your withdrawal request and/or indicate that you wished to close the account and cease trading. Because of this, the broker can easily say that you allowed them to make these trades on your behalf and that the withdrawal request was cancelled because of insufficient funds in your account. However, in saying that, it does not discount the fact that the broker is acting in a very dodgy manner with your account, and (assuming) in corresponding with you.
What is the current status of your account? Have you heard anything further from them?
You requested a withdrawal on 16 Nov. Two trades were placed on your account for $285 on 29 Nov, within 15 minutes of each other. One for DAX (long term, in the money @ $495) and one for LUKOIL RS (out of the money). Based on this activity, It appears as though they did not suspend trading on your account when they received your withdrawal request, AND they then changed the amount that they invested per trade from $20 to $285. The timing of the change in investment amount is most dubious (and is certainly not backed by historical precedence) as are the actual trades themselves.
However, I am confused as to how your account balance can be $7 though. All your screenshots indicate "Page 1 of 1" so, I assume that all of the activity in your account has been captured? If so, I see $600 deposited, less $650 investment costs, plus $531.50 Payouts = $481.50 net balance. Perhaps this is why they cancelled your withdrawal request of $577 because, by the time they processed the request, your request exceeded the account balance? Were additional trades made that you have not documented that further depleted your account?
If you had a broker managed account then, technically, you did not rescind any power of attorney (was there such a document even in the first place?) over the account in writing at the same time as making your withdrawal request and/or indicate that you wished to close the account and cease trading. Because of this, the broker can easily say that you allowed them to make these trades on your behalf and that the withdrawal request was cancelled because of insufficient funds in your account. However, in saying that, it does not discount the fact that the broker is acting in a very dodgy manner with your account, and (assuming) in corresponding with you.
What is the current status of your account? Have you heard anything further from them?
novatrice1
Private, 1st Class
- Messages
- 66
Sure guilty.
every trader must be able to withdraw their money without problems
every trader must be able to withdraw their money without problems
danielsoy
Sergeant
- Messages
- 161
Nobody needs that kind of ¨¨help¨¨
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