GUILTY Case# 2017-011 | taoem vs genevaoption.com
- Thread starter taoem
- Start date
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- genevaoption.com
fxpipmeister
Private
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- 24
Geneva Option is without a doubt another scam broker...GUILTY!!!
F***X
Sergeant
- Messages
- 237
Yes it does raise more red flags than a national anniversary Chinese military parade.
Big thanks to Taoem for this fraud alert against these very deceptive scammers.
Good day
First I am NOT an employee of Geneva Option (GO) although I do trade with them. I think that taoem's case is full of holes:
To quote from his case file: "On 09.01.2017, I sent them an email stating the following (ref. Document 22): (amongst others)
2) I have already covered $14,000 of the $20,000 credit that they fraudulently used to block me from withdrawing my balance (ref. Section 2.1). However, I will not cover the rest.
3) I expect my balance to be sent to my bank account (less the $6000 credit that I will not cover)."
Why would he acknowledge in an e-mail on 09.01.2017 that he had covered $14,000 of the $20,000 and would not make any further deposits because he does not trust GO, when on 09.12.2016 he had transferred $6,000 and on 27.12.2016 he had made a further deposit of $3,100 to the account that would have brought his balance to $23,100
Further, looking at the documentation provided, on 01.09.2016 there is a $20,000 deposit that was done which refers to the credit that Geneva Option gives clients as a "loan" (method is Prime) that is expected to be covered, usually to make use of in a Trading Season. taoem states that this credit was given after his initial deposit (without his knowledge or consent?) but he does not tell what that initial deposit was and on his document #4 there is no deposit showing before 01.09.2016. There is evidence that he tried to withdraw $3,100 which was refused on the same day. Then he made a deposit on 08.12.2016 of $3,100 which he did not mention. Using the documentation provided in document #4 I have done the following summary of his account with the information he provided:
WD Deposit Trade Payout Balance
01/09/2016 Deposit Loan 20 000 20 000
05/09/2016 Trade 5 000 9 300 24 300
05/09/2016 Trade 5 000 9 150 28 450
15/09/2016 Trade 10 000 18 600 37 050
19/09/2016 Trade 12 000 22 320 47 370
12/08/2016 Deposit 3 100 50 470
You will note that this agrees to the balance on taoem's Document #1 which according to the complainant was on 09.01.2017. However, I do not have a date for Document #4 and find it surprising that this does not state the two deposits of $7,000 each that was done in October 2016. Can it be that document 4 was an old history statement?
The question is, does this balance on GO's system reflect the deposits made in October and December or only the original "loan". Because if the deposits were not reflected, why not or were they reversed when the complainant asked his bank to do so? Why was this descrepancy not queried with GO? Can taoem confirm what his current account history reflects?
I find it concerning that FPA has not researched this further before sending this case to vote? It will make me doubt any future results of scam alerts that FPA posts. With results that have not been fully analysed you give traders false hopes and destroy businesses in the process.
It is also important to note that Binary and Forex trading is very risky and you have to be on top of the game all the time. I don't believe all the brokers are scammers but they do have rules that will be in their favour and you have to watch out for it all the time.
First I am NOT an employee of Geneva Option (GO) although I do trade with them. I think that taoem's case is full of holes:
To quote from his case file: "On 09.01.2017, I sent them an email stating the following (ref. Document 22): (amongst others)
2) I have already covered $14,000 of the $20,000 credit that they fraudulently used to block me from withdrawing my balance (ref. Section 2.1). However, I will not cover the rest.
3) I expect my balance to be sent to my bank account (less the $6000 credit that I will not cover)."
Why would he acknowledge in an e-mail on 09.01.2017 that he had covered $14,000 of the $20,000 and would not make any further deposits because he does not trust GO, when on 09.12.2016 he had transferred $6,000 and on 27.12.2016 he had made a further deposit of $3,100 to the account that would have brought his balance to $23,100
Further, looking at the documentation provided, on 01.09.2016 there is a $20,000 deposit that was done which refers to the credit that Geneva Option gives clients as a "loan" (method is Prime) that is expected to be covered, usually to make use of in a Trading Season. taoem states that this credit was given after his initial deposit (without his knowledge or consent?) but he does not tell what that initial deposit was and on his document #4 there is no deposit showing before 01.09.2016. There is evidence that he tried to withdraw $3,100 which was refused on the same day. Then he made a deposit on 08.12.2016 of $3,100 which he did not mention. Using the documentation provided in document #4 I have done the following summary of his account with the information he provided:
WD Deposit Trade Payout Balance
01/09/2016 Deposit Loan 20 000 20 000
05/09/2016 Trade 5 000 9 300 24 300
05/09/2016 Trade 5 000 9 150 28 450
15/09/2016 Trade 10 000 18 600 37 050
19/09/2016 Trade 12 000 22 320 47 370
12/08/2016 Deposit 3 100 50 470
You will note that this agrees to the balance on taoem's Document #1 which according to the complainant was on 09.01.2017. However, I do not have a date for Document #4 and find it surprising that this does not state the two deposits of $7,000 each that was done in October 2016. Can it be that document 4 was an old history statement?
The question is, does this balance on GO's system reflect the deposits made in October and December or only the original "loan". Because if the deposits were not reflected, why not or were they reversed when the complainant asked his bank to do so? Why was this descrepancy not queried with GO? Can taoem confirm what his current account history reflects?
I find it concerning that FPA has not researched this further before sending this case to vote? It will make me doubt any future results of scam alerts that FPA posts. With results that have not been fully analysed you give traders false hopes and destroy businesses in the process.
It is also important to note that Binary and Forex trading is very risky and you have to be on top of the game all the time. I don't believe all the brokers are scammers but they do have rules that will be in their favour and you have to watch out for it all the time.
Dermolikesprofit
Sergeant
- Messages
- 158
Guilty. Another options scam company, these seem to pop up faster than mushrooms overnight, and why wouldn't they it is the easiest scam on the internet now days.
taoem
Private, 1st Class
- Messages
- 65
I'm afraid my case is not full of holes, as I will now go through and pick apart every one of your points.
I transferred $6000 and $3100 to Advanced Cash, a 3rd party online transfer site. The $3100 was made as I did a chargeback of my initial $3100 deposit due to Geneva Option's questionable activities. These funds are still with Advanced Cash, not Geneva Option.
As already stated, my initial deposit was $3100, which was made on 12 Aug 2016 (ref. Document 4). This is clearly before the $20,000 credit which was put into my account on 1 Sept 2016. And yes, this was done without my consent.
It appears you are getting your dates mixed up. I stated VERY CLEARLY AT THE BEGINNING OF MY CASE that all dates are of the format DD.MM.YYYY.
Document 4 is not an old statement. I will prove this by attaching my transaction history as of 9 Jan 2017. You will note that it matches Document 4.
The 2 transaction of $7000 I made in Oct 2016 are not shown in the transaction history, I suppose because:
a) It is being used to cover the credit.
b) Geneva Option can deny they ever received them.
c) All of the above.
Fortunately, I got confirmation that the $14,000 USD was received (ref. Document 19).
You have asked for confirmation that the account history is valid, and you have it.
It is your choice whether or not to trust the FPA, but I am afraid that all of the points you have made against my case have now been countered. I strongly suggest you get your money back from Geneva Option as soon as possible, before you find they lock your account and stop answering your emails too.
I transferred $6000 and $3100 to Advanced Cash, a 3rd party online transfer site. The $3100 was made as I did a chargeback of my initial $3100 deposit due to Geneva Option's questionable activities. These funds are still with Advanced Cash, not Geneva Option.
As already stated, my initial deposit was $3100, which was made on 12 Aug 2016 (ref. Document 4). This is clearly before the $20,000 credit which was put into my account on 1 Sept 2016. And yes, this was done without my consent.
It appears you are getting your dates mixed up. I stated VERY CLEARLY AT THE BEGINNING OF MY CASE that all dates are of the format DD.MM.YYYY.
Document 4 is not an old statement. I will prove this by attaching my transaction history as of 9 Jan 2017. You will note that it matches Document 4.
The 2 transaction of $7000 I made in Oct 2016 are not shown in the transaction history, I suppose because:
a) It is being used to cover the credit.
b) Geneva Option can deny they ever received them.
c) All of the above.
Fortunately, I got confirmation that the $14,000 USD was received (ref. Document 19).
You have asked for confirmation that the account history is valid, and you have it.
It is your choice whether or not to trust the FPA, but I am afraid that all of the points you have made against my case have now been countered. I strongly suggest you get your money back from Geneva Option as soon as possible, before you find they lock your account and stop answering your emails too.
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