Imperial Options not processing withdraws for 6 months

[EvanTriMedia]

I made 2 deposits with Imperial Options. 1. $250 Jan 30 2015 2. $750 feb 12 2015. I took NO bonus and NO guaranteed trades. I traded more than the minimum volume = to my deposits (their rules) and then when trying to withdraw my funds, Imperial Options kept cancelling my withdraw request with no explanation. The first account manager I dealt with left the company. My account was then given to a "Immanuel" as my new acc manager. Every time I would try contact customer support regarding my withdraws, Immanuel would call me a few minutes later & tell me to trust him & keep trading and that I can withdraw my "profits" after my account is above $1000.?!? this has happened 3 times and my current withdraw request is still unprocessed. I have called customer support several times, who say they will look into it, but never get back to me. I have emailed requests 3 times for assistance and they simply refer me back to Immanuel !!

 

[Pharaoh]

First and foremost, email Immanuel and all other addresses you have for the company. Tell them that you DO NOT authorize anyone to place any trades in your account under any circumstances. It would be very sad if all your money was lost before the withdrawal could be processed.

Grab some screenshots from their site which show pages talking about withdrawals.

Then, call your credit card's issuing bank. Ask to speak to someone in the fraud department. Explain very clearly that yes, you did authorize the charges, but this was done on the basis that one of the promised services was the broker processing withdrawals of money in your account. Explain that the broker is not delivering the promised service and you would like to try to arrange a chargeback of both deposits as quickly as possible.

 

[EvanTriMedia]

First and foremost, email Immanuel and all other addresses you have for the company. Tell them that you DO NOT authorize anyone to place any trades in your account under any circumstances. It would be very sad if all your money was lost before the withdrawal could be processed.

Grab some screenshots from their site which show pages talking about withdrawals.

Then, call your credit card's issuing bank. Ask to speak to someone in the fraud department. Explain very clearly that yes, you did authorize the charges, but this was done on the basis that one of the promised services was the broker processing withdrawals of money in your account. Explain that the broker is not delivering the promised service and you would like to try to arrange a chargeback of both deposits as quickly as possible.

Thanks Pharoah will try all that.

 

[EvanTriMedia]

I see "Imperial Options" is still not listed under the binary brokers list Did you receive the new addition & 1 star rating ?

 

[Pharaoh]

Use Contact Us and select Reviews. Sometimes they can get a little behind if too many come in at once.

 

[qitiandasheng]

Yeah, it's better to keep all evidence include email or screenshot etc, or ask help from regulation body.

 

[Billy Whiz]

I had similar problems, same scenarios, same support personnel. I eventually started the Small Claims process and informed them that if they did not process my withdrawl by close of business 7 day hense, I would complete the documentation. That provoked a response which I had not received before. I received many phonecalls trying to persuade me not to withdraw and offering all manner of other options. I maintained my position and they eventually returned my money. Best of luck.

 

[Pharaoh]

I had similar problems, same scenarios, same support personnel. I eventually started the Small Claims process and informed them that if they did not process my withdrawl by close of business 7 day hense, I would complete the documentation. That provoked a response which I had not received before. I received many phonecalls trying to persuade me not to withdraw and offering all manner of other options. I maintained my position and they eventually returned my money. Best of luck.

Aha! Another way to pry money out of deposit-only brokers. They can always claim that posts describing theft in forums and reviews are fake, but a ruling against them in a small claims court is something they can't lie their way out of.

 

[Billy Whiz]

Small Claims Procedure.
Visit www.moneyclaim.gov.uk and you will find 3 other links to the guidance notes. Read them first. You will need to register with the Government Gateway, where you will be issued with User ID. Follow the instructions which are relatively simple.
There are some Pre Action Protocols, namely you must show that you have attempted to sort the problem out (Keep records of Emails, telecons and any letters). Also you must give the Defendant notice that you intend to proceed with court action, I believe the notice period is 30 days.
It is the threat of going down this route that may galvanise the company into dealing with your case in an appropriate manner. However, if they do not, follow the instruction on the forms.
The main piece of advice I would give is that when the Particulars of Claim are filled in, Google "Cause of Action" as the pleading must be spelt out in a certain way. I will try to give an example.
State what the agreement / contract says, then lay out how the Defendant has broken that agreement or breached the contract. Show your losses i.e. how much they hold in your account (and won't release) or other breach, then and this is important, state "I hold them responsible for my loss and I seek damages for breach of contract and accordingly I seek restitution of the sum of xxxxx
There is also a clause to claim interest from the date the money became due up to the date of the court hearing at the rate of 8%.
In correspondence with the company, inform them that you will proceed to use the Small Claims procedure if they do not respond adequately by close of business say 1 weeks from receipt.
Best of luck.

 

[RahmanSL]

Small Claims Procedure.
Visit www.moneyclaim.gov.uk and you will find 3 other links to the guidance notes. Read them first. You will need to register with the Government Gateway, where you will be issued with User ID. Follow the instructions which are relatively simple.
There are some Pre Action Protocols, namely you must show that you have attempted to sort the problem out (Keep records of Emails, telecons and any letters). Also you must give the Defendant notice that you intend to proceed with court action, I believe the notice period is 30 days.
It is the threat of going down this route that may galvanise the company into dealing with your case in an appropriate manner. However, if they do not, follow the instruction on the forms.
The main piece of advice I would give is that when the Particulars of Claim are filled in, Google "Cause of Action" as the pleading must be spelt out in a certain way. I will try to give an example.
State what the agreement / contract says, then lay out how the Defendant has broken that agreement or breached the contract. Show your losses i.e. how much they hold in your account (and won't release) or other breach, then and this is important, state "I hold them responsible for my loss and I seek damages for breach of contract and accordingly I seek restitution of the sum of xxxxx
There is also a clause to claim interest from the date the money became due up to the date of the court hearing at the rate of 8%.
In correspondence with the company, inform them that you will proceed to use the Small Claims procedure if they do not respond adequately by close of business say 1 weeks from receipt.
Best of luck.

Well done "Billy Whiz"

I think this type (and other similar step-by-step instruction) of useful information should be filed in an easy to access folder at the FPA for members to use when the need arises.
Also, it saves on repetitious posting of such post.