GUILTY Case# 2018-061 | Aport888 vs FXGTrade.com

[Tryingtrader]

Here is an example of the authorities taking action against these scammers .... too little at the moment, we can only hope thge pace will pick up when this one lodges a success!

https://www.timesofisrael.com/us-gr...d-israeli-binary-options-fraudster-lee-elbaz/

 

[meal4wildcats]

You really should file a complaint with your National Fraud Action authority and also make a Chargeback claim with your bank if you used a card to fund your account (stating the promised services were not received). They may try to decline your request, but if you state the services promised and paid for were not received by you they have to accept your claim (provided you file within their qualifying period - which is usually 3 - 4 months.

.....Does that really work?? Do you know of anyone who has had success with that?
These scammers even have a way of dancing around the banks with chargeback claims. Trust me; I speak from experience.
And there isn't much enthusiasm on the banks' front to put up a spirited fight on your behalf anyway..
Perhaps share, should you be lucky enough to get a different experience?

 

[Tryingtrader]

Yes I had success with my chargeback. Complete refund of all funds and interest charges incurred (due to over extending my CC). I stated that during phone conversations the Options Broker manager had promised training and prudence in allocating how much was risked on each trade and overall risk exposure. No training was given and he failed in his prudence, as my account was destroyed in 15 mins of frantic trading once I had asked to withdraw all my funds. The Options company contested the claim but got most of their facts wrong on their submission, so the refund was permanent. It is definitely worth badgering your bank for a chargeback if you can show the broker has not fulfilled their promises - both written AND verbal - as part of the enticement to deposit funds. I maintained these verbal promises had to form part of our agreement as it was these promises that convinced me to increase my 'investment'.
Also the Banks are aware of this Options fraud and could be considered as accomplices along with the CC companies in aiding and abetting the fraud.

 

[meal4wildcats]

Yes I had success with my chargeback. Complete refund of all funds and interest charges incurred (due to over extending my CC). I stated that during phone conversations the Options Broker manager had promised training and prudence in allocating how much was risked on each trade and overall risk exposure. No training was given and he failed in his prudence, as my account was destroyed in 15 mins of frantic trading once I had asked to withdraw all my funds. The Options company contested the claim but got most of their facts wrong on their submission, so the refund was permanent. It is definitely worth badgering your bank for a chargeback if you can show the broker has not fulfilled their promises - both written AND verbal - as part of the enticement to deposit funds. I maintained these verbal promises had to form part of our agreement as it was these promises that convinced me to increase my 'investment'.
Also the Banks are aware of this Options fraud and could be considered as accomplices along with the CC companies in aiding and abetting the fraud.

Thank you very much Tryingtrader, for being such a sport in support. And willing to assist.
Now, this is a very interesting angle to the whole scammer experience. Without even knowing all of your details, I can discern that your approach was very similar to what I attempted. What you outline is exactly the fight I have had with with my bank for months on end. i explicitly pointed out to them that they failed to solicit evidence from me in regard to my chargeback, before arbitrarily closing my case upon flimsy contesting from the trading scam Optionstars. And that too without even the basic courtesy of keeping me in the loop of what correspondence was going on between the two of them! Only springing the rude shock on me after my persistent pestering, and even at that, ignoring it until when the stipulated period had lapsed!
May I sir, seek your permission to quote your case in my follow-up correspondence to them. For you have greatly stirred my renewed anger and adrenalin to drop my case all over again right at their doorstep! Before this conversation I had taken the case to their CEO, and of course as expected, he would have some handyman take on twisting me around, in order to squirm their way out of the bungling they created. And more likely than not, their complicity in the whole shenanigans!
Keep up the good job of informative support.

 

[Tryingtrader]

Thank you very much Tryingtrader, for being such a sport in support. And willing to assist.
By all means you may quote my case, even better you can quote all the articles you will find with a simple search of https://www.financemagnates.com/, https://financefeeds.com/ and https://www.leaprate.com/ and search each for binary-options scams to get an idea of what is currently the mood of recovering money from these Options scammers. Also this link to FPA advice
https://www.forexpeacearmy.com/comm...binary-broker-which-reason-code-to-use.36033/
may help with chargeback reasons. Be careful if you Google 'Chargeback Binary Option' or similar, as this will bring up all the scam chargeback sites as well as the "reformed?" ex account managers who are offering their 'help?' to get your money back from scamming brokers, but are just there to take more money from you. 'Giambrone', I (and others) have found to be a complete waste of time and very expensive. Telephone Correspondence with your bank is best followed up with a letter repeating the facts discussed on the phone, and tell them you are going to do this - send it registered requiring a signature and keep the receipt. If you haven't done so already make sure you file a complaint with WWW.ActionFraud.police.uk (if you are a UK resident) and get a case number from them, this will help your case with the Bank. Hope all this helps, and keep badgering the banks despite their dismissal of your case - remember you basically purchased a service which you did not receive. Best wishes and Good luck.

By all means you may quote my case, even better you can quote all the articles you will find with a simple search of https://www.financemagnates.com/, https://financefeeds.com/ and https://www.leaprate.com/ and search each for binary-options scams to get an idea of what is currently the mood of recovering money from these Options scammers. Also this link to FPA advice
https://www.forexpeacearmy.com/commu...binary-broker-which-reason-code-to-use.36033/
may help with chargeback reasons. Be careful if you Google 'Chargeback Binary Option' or similar, as this will bring up all the scam chargeback sites as well as the "reformed?" ex account managers who are offering their 'help?' to get your money back from scamming brokers, but are just there to take more money from you. 'Giambrone', I (and others) have found to be a complete waste of time and very expensive. Telephone Correspondence with your bank is best followed up with a letter repeating the facts discussed on the phone, and tell them you are going to do this - send it registered requiring a signature and keep the receipt. If you haven't done so already make sure you file a complaint with WWW.ActionFraud.police.uk (if you are a UK resident) and get a case number from them, this will help your case with the Bank. Hope all this helps, and keep badgering the banks despite their dismissal of your case - remember you basically purchased a service which you did not receive. Best wishes and Good luck.

 

[AsstModerator]

Thank you. I'm not very much familiar with how to use this forum yet. Is it possible to send you a private message? I just have a few questions related to this matter.

Click the little envelope on the right side of the gray bar near the top of the screen,

 

[4evermaat]

Yes you have described it all thoroughly. I wish I had known all this previously. The only thing I can't understand is if this has been going on for the last 10 years, why don't the government's ban this kind of companies? Why do these scanners feel totally free to cheat people and rob them of their money? Why do govts of countries such as Israel, the UK and others let them get away with anything they do and remain unpunished? It's like a robbery in the broad daylight. Most people in power are well aware of that and yet do nothing??

Regulation is "after the fact". No one will care about you more than you. The scammers are successful primarily because their marks are poorly informed about how financial markets work. The good news is that you woke up early and stopped your greed obsession.

 

[GDen162]

Mmm...I had a look at their site,did not find any regulation mention.Safety is mentioned relating to security of the site and usual anti virus stuff.
Has some glossy stuff and I noticed that a 30 day wait on first withdrawal and min $50 USD amount...
Entrusting such large trade sizes to others is a risk but the constant call for more deposits is a concern and if they ceased communication with the client well
this seems to be a common occurrence with other FPA cases.

 

[Tryingtrader]

Mmm...I had a look at their site,did not find any regulation mention.Safety is mentioned relating to security of the site and usual anti virus stuff.
Has some glossy stuff and I noticed that a 30 day wait on first withdrawal and min $50 USD amount...
Entrusting such large trade sizes to others is a risk but the constant call for more deposits is a concern and if they ceased communication with the client well
this seems to be a common occurrence with other FPA cases.

Yes this is standard operating procedure for these crooked websites. They buy a 'White Label' scam site and pay for a data feed from a doctored market provider, entice unwary customers with glossy promises of unusually large easy gains, then slap on an unfavourable load of 'Terms and Conditions' and the customer is hooked. First trades go very well and customer thinks "This thing actually works, I'll invest a bit more", then the losses start. No amount of wriggling will let them off the hook, so they try to withdraw their money and then the T & C's are brought into play. Managers phone the customers and say 'if they invest a bit more, the losses can be recovered', but the new money is lost as well. These people are a modern version of the con man in the market place, lots of promises but NO substance. They should be behind metal bars ..... and eventually they will be!

 

[Arnis Slapelis]

It is absolutely necessary to fight these scammers by all available means. I guess they know their are involved in a criminal activity but they believe they are slippery enough to escape responsibility. Unfortunately in many many cases this is exactly what happens.