Original FPA Traders Court Submission:
I am submitting the case against: www.optionbit.com
My Case is: I have been trading with this broker and I started with a deposit amount of $400. They tried to trick me into a bonus deal as a bonus of $120 was added to my account without even mentioning it to me. Immediately I noticed, i made sure i didnt take any trade until the bonus was removed and I told them that I do not want any bonus in future.
I have been able to build my account to $4024. Then without my authorization, a bonus amount of $500 was added to my account again. I was really shocked and amazed by this action from this broker. I sent an email to them to remove the bonus which they did the same day but they placed restriction on my account and made sure that I could not make any withdrawal.
I spoke with account manager named Adam Jones and he kept saying that I accepted bonus even though I have emails from them acknowledging that I refused their offers. He said I needed to reach a trade volume of $26000 (I had already traded a volume of about $20950). Unknown to me, they made sure that my account became restricted and I could no longer place turbo trade with any amount greater than $10.
He kept insisting that I used Digital strategies ( trades with expiry time). I tried checking it out and I noticed that the price of the market has been manipulated and there was no way I could trade without incurring losses. I have attached screenshots of two different accounts (my account and a new account that i signed up again. You will be able to see that the market has been manipulated and set so that I would always lose my trades.You will be able to see that the expiry time on the two accounts are the same but the market price is very different ( about 40 pips difference)
I then tried to take a $10 trade using the Digital and of course I lost the trade because the price is manipulated already. I am currently trying to terminate my account and withdraw my funds but am not getting any response from them
New thread in the Scam Alerts Folder:
Review is submitted by Moraks on 10/12/16
The company was first contacted about the issue on 10/03/16 the last contact was on 10/11/16
Details: Support <support@optionbit.com>
To Me Oct 10 at 10:33 PM
Hello,
We have received your request not to trade with the bonus provided to you on your initial deposit.
The bonus has been removed from your account balance.
Kind regards,
Customer Care
Hide original message
On 10/10/2016 1:51 PM, Me wrote:
Hello,
I want to request for the removal of the bonus of $500 to be removed from my account with immediate effect as I never agreed to receive any bonus from you.
As you can see from my account, even when your staff tried to TRICK me into a $120 bonus offer, i told her to remove it immediately.
Please I want the bonus remove asap so that I can resume trading on my account.
Regards,
Me
To Support Oct 10 at 10:56 PM
Hello,
Thank you for your response.
However, I am having problems making a withdrawal request from my account. It is giving me so kind of restriction.
Kindly assist to remove this restriction so that I can proceed with my withdrawal request.
Regards
Me
To Support Optionbit Oct 12 at 4:19 PM
Hello,
I would like to proceed with an account termination and a withdrawal of all my funds on your platform.
I have filled the account termination form and I have stated my reasons for termination therein.
I have ensured that at this time that I am sending this email, I have no ACTIVE trades in my account and my account balance is $4014.60.
Do not hesitate to contact me if you need any clarification or proof for my reason of termination.
Regards,
Company representatives' emails: Adam Jones <adam.j@optionbit.com>
I am submitting the case against: www.optionbit.com
My Case is: I have been trading with this broker and I started with a deposit amount of $400. They tried to trick me into a bonus deal as a bonus of $120 was added to my account without even mentioning it to me. Immediately I noticed, i made sure i didnt take any trade until the bonus was removed and I told them that I do not want any bonus in future.
I have been able to build my account to $4024. Then without my authorization, a bonus amount of $500 was added to my account again. I was really shocked and amazed by this action from this broker. I sent an email to them to remove the bonus which they did the same day but they placed restriction on my account and made sure that I could not make any withdrawal.
I spoke with account manager named Adam Jones and he kept saying that I accepted bonus even though I have emails from them acknowledging that I refused their offers. He said I needed to reach a trade volume of $26000 (I had already traded a volume of about $20950). Unknown to me, they made sure that my account became restricted and I could no longer place turbo trade with any amount greater than $10.
He kept insisting that I used Digital strategies ( trades with expiry time). I tried checking it out and I noticed that the price of the market has been manipulated and there was no way I could trade without incurring losses. I have attached screenshots of two different accounts (my account and a new account that i signed up again. You will be able to see that the market has been manipulated and set so that I would always lose my trades.You will be able to see that the expiry time on the two accounts are the same but the market price is very different ( about 40 pips difference)
I then tried to take a $10 trade using the Digital and of course I lost the trade because the price is manipulated already. I am currently trying to terminate my account and withdraw my funds but am not getting any response from them
New thread in the Scam Alerts Folder:
Review is submitted by Moraks on 10/12/16
The company was first contacted about the issue on 10/03/16 the last contact was on 10/11/16
Details: Support <support@optionbit.com>
To Me Oct 10 at 10:33 PM
Hello,
We have received your request not to trade with the bonus provided to you on your initial deposit.
The bonus has been removed from your account balance.
Kind regards,
Customer Care
Hide original message
On 10/10/2016 1:51 PM, Me wrote:
Hello,
I want to request for the removal of the bonus of $500 to be removed from my account with immediate effect as I never agreed to receive any bonus from you.
As you can see from my account, even when your staff tried to TRICK me into a $120 bonus offer, i told her to remove it immediately.
Please I want the bonus remove asap so that I can resume trading on my account.
Regards,
Me
To Support Oct 10 at 10:56 PM
Hello,
Thank you for your response.
However, I am having problems making a withdrawal request from my account. It is giving me so kind of restriction.
Kindly assist to remove this restriction so that I can proceed with my withdrawal request.
Regards
Me
To Support Optionbit Oct 12 at 4:19 PM
Hello,
I would like to proceed with an account termination and a withdrawal of all my funds on your platform.
I have filled the account termination form and I have stated my reasons for termination therein.
I have ensured that at this time that I am sending this email, I have no ACTIVE trades in my account and my account balance is $4014.60.
Do not hesitate to contact me if you need any clarification or proof for my reason of termination.
Regards,
Company representatives' emails: Adam Jones <adam.j@optionbit.com>