key option is a fraud and scam! 200k+ stolen!!

Aussie investor

Private
Messages
15
key option and chris morgan are fraud scam artists!!

Last year i was induced into the binary options game. This was my first time doing anything like this and they were well aware of this, as i told them and put my level as "beginner" when signing up. I was assured this did not matter and i would be guided the whole way by an experienced broker. Stories of people the same as me making large profit were exchanged. I was comforted by the fact i was told key option was 100% regulated by cysec also- turns out they are not.

My issue has a number of layers to it, but i believe the main legal standpoint is that of breach of contract. Moreso i was induced into a contract by lies, fraud and untruth.

Long story short, I invested a total amount of AUD$200k with them. Part was paid via creditcard, the rest bank transfer.

I was induced to invest enough money to put me on what they call a 'corporate' account. I was told that this was better as it allowed me to make more profit and do INSURED trades. Ie trades where if lost you would not suffer financial loss as they are insured.

It turns out this "corporate" account does not appear to exist, and is not on their website whatsoever. I was told with this account i would get access to insider information not available from the other accounts ie from companies like Goldman sachs when major events would occur allowing significant profit. I was assured at all times my money would be secure and safe through insured trades.

Please note that insured trades are very different to BONUS given by the company. This is a very important point as they later claim the insured amounts were bonus requiring me to reach a specific trading volume to be able to withdraw. This is unethical and another lie as INSURANCE and BONUS are completely different things.

I worked my account upto $270k , and experienced some losses along the way. Trades were placed by both the broker and myself- but each trade i placed was under direct instruction from the broker. I am a beginner after all.

Each time there was a loss i was told the company recovered the money and not to worry as it was an insured trade with no risk. I have skype conversations between me and the broker telling me he has "got compensation from the market" and that the trades are "insured". There was never any mention of bonus or trading volume.

Late last year I informed my broker that I wanted to withdraw most of my funds for another investment. Thats when things got funny.

Initially he tried to talk me out of it. I was then told that the INSURED trades were infact 'bonuses' (which i had no knowledge of whatsoever). I would never of accepted a bonus, and was further told that my withdrawl request had been denied due to not meeting the required "trading volume".

Following this My broker then gave me a trade which LOST my entire money in the one trade. YES THE ENTIRE AMOUNT in ONE TRADE. Coincidence? I doubt it, more like giving bogas signals to avoid having to pay me my withdrawl.

I want to recover my money, as it seems there has been lies and deceit the whole time. The legal points i see are:

1. I was induced into entering a contract through lies, deceit and illegally. There is also no mention of a 'corporate' account on their website whatsoever. Also I would never of entered into the account if there was no insured trades. I was told my amounts were SECURED. If they were not i would not of been involved. I seek to rescind the contract and be put in the position i was prior to entering the fraudulent contract.

2. The company advertises itself as regulated by cysec and i was told they were continually. I thought a regulated company would act honestly. It turns out they are not regulated at all! How can this be legal?

Any advice will be appreciated. Also a generous reward will be given to anyone who gives info that directly leads to the return of my hard earned funds.
 

FxMaster

Lt. Colonel
Messages
9,449
Two steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Go to their website and invite them to here via Live Chat.
 

Aussie investor

Private
Messages
15
Did you try reporting them to Local police, ACORN, HCMC
econsumer.gov and ic3.gov?
Thank you for this, it is appreciated. The issue is jurisdiction. I am from syd australia and the parent company is in Greece. They operate out of Luxembourg and the UK. My lawyers are looking into this and also sueing the individuals involved.
 
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