Katootje
Private, 1st Class
- Messages
- 44
My experience with 500Option:
I received a call from Frank Bass, 500Option.com where I had a small account. He had heard of my account from Jett Harrison, the previous broker I had dealt with. He offered me an opportunity to participate in a new program which would ensure I would clear my debt with trading. In order to do this I would need to deposit more money into the account than I had at that moment. After several calls and chat sessions, I was persuaded to deposit into 500Option account, He would then add a 10K bonus, (see attached bonus terms & conditions) however only under his 100% guarantee that should we be out of money it would be returned to my account at no loss to me and would be able to withdraw. See attached emails _____
Thereafter the calls from him were daily trying to convince me to add yet more money into this account, that he had a great opportunity he wanted me to participate in but couldn’t discuss its details. I continuously explained that I was not in a position to add any more funds, nor take out any additional loans from the bank. (At this point in time, I owed 25K to my employer, 22k to the bank). The only way a new loan would be honored in The Netherlands is to clear the existing one first then apply for a new one when it was cleared. He stated that he would trade for me to clear all existing loans with the bank first then take out a new loan of 75K to put into the account and participate in a new investment which would take me well above 200,000K within a year.
With all of this spinning around in my head - I decided to withdraw what was in the balance at this point in time (€19,800.00). I was a nervous wreck and terrified.
Frank saw that I had put a withdrawal request in, - he constantly called me and promised to clear both of these loans by trading for me, I need to trust him he said. I only need to deposit what I could take from my credit card to put into the account, on top of what I had already deposited. (5K on 6th April) he promised to continually trade on my behalf for 1 week until Thursday April 21st by then I would be able to withdraw on the 23rd April and clear my debt. He asked me not to log into my account to see the balance, it would fluctuate a lot and he didn’t want me to have a heart attack , he asked me to trust and wait until 23rd before logging into my account. He would make sure the balance was healthy and still guaranteed the funds personally which he clarified in a waiver/extension of his first proposition with the guarantee of 20K by himself as well as 500Option.
During this period of course I checked the balance regularly. I saw he was trading on my behalf. I saw the balance (25K) fluctuate to 35K; 57K; 47K; 33K; I had no doubt.
On the 19th April I saw he lost 23K trading! I immediately changed the password of my account and repeatedly tried to get in touch with him. He did not answer on skype. I could not get through on the phone. I sent an email on the 20th regarding an appointment with the bank. I got the following message back:
From: Hickey, Kathy [
Sent: Wednesday, April 20, 2016 10:11 AM
To: Frank Bass <frank@500option.com>
Subject: RE: Frank Bass
Good morning Frank,
I do hope you are feeling much better after your incident.
Would you reserve 1 hour time-frame on Thursday 28th at 15:00hrs (NL time-frame). I have an appointment with the bank and we want to involve you in the discussion for the 75K Loan. Can you free-up the time then or other preference?
Please confirm to me that my funds will be returned to my bank to Thursday latest in order to clear the existing loan and take-out the 75K.
“From: Frank Bass [mailto:frank@500option.com]
Sent: woensdag 20 april 2016 9:20
To: Hickey, Kathy
Subject: RE: Frank Bass
good morning kathy
I am honestly not interested in your 75K.
I have explained several times that the money deposited has no effect on my portfolio whereas the things i can do for you can change your life
you have changed the password in the account and not given me 1 day of peace and mind to do my job after endless amounts of discussion between us and the hardships i had to go through in your account.
I will be transferring you by the end of the day to one my senior brokers, you have reminded me why it is impossible to help the small person, dealing with your concerns has become a secondary job.
Im sorry this had to come here, the broker has the details of your withdrawal and will discuss continuation with thereafter.
My personal advice is never invest again, your just not cut out for it.
For the most part it was a pleasure and thankyou for your business.
Regards,
Frank BassChief Of Finanical Operations
Phone: +442038070216Email: frank@500option.comSkype: frank.b500option
http://www.500option.com
No other broker called me – no one answers my mails – nor telephone calls.
I have desperately trying to get my 20K (at least) back from this swindle I have stupidly been part of. I had only one focus – clear my debt.
Well I’m now in more debt thanks to this.
I received a call from Frank Bass, 500Option.com where I had a small account. He had heard of my account from Jett Harrison, the previous broker I had dealt with. He offered me an opportunity to participate in a new program which would ensure I would clear my debt with trading. In order to do this I would need to deposit more money into the account than I had at that moment. After several calls and chat sessions, I was persuaded to deposit into 500Option account, He would then add a 10K bonus, (see attached bonus terms & conditions) however only under his 100% guarantee that should we be out of money it would be returned to my account at no loss to me and would be able to withdraw. See attached emails _____
Thereafter the calls from him were daily trying to convince me to add yet more money into this account, that he had a great opportunity he wanted me to participate in but couldn’t discuss its details. I continuously explained that I was not in a position to add any more funds, nor take out any additional loans from the bank. (At this point in time, I owed 25K to my employer, 22k to the bank). The only way a new loan would be honored in The Netherlands is to clear the existing one first then apply for a new one when it was cleared. He stated that he would trade for me to clear all existing loans with the bank first then take out a new loan of 75K to put into the account and participate in a new investment which would take me well above 200,000K within a year.
With all of this spinning around in my head - I decided to withdraw what was in the balance at this point in time (€19,800.00). I was a nervous wreck and terrified.
Frank saw that I had put a withdrawal request in, - he constantly called me and promised to clear both of these loans by trading for me, I need to trust him he said. I only need to deposit what I could take from my credit card to put into the account, on top of what I had already deposited. (5K on 6th April) he promised to continually trade on my behalf for 1 week until Thursday April 21st by then I would be able to withdraw on the 23rd April and clear my debt. He asked me not to log into my account to see the balance, it would fluctuate a lot and he didn’t want me to have a heart attack , he asked me to trust and wait until 23rd before logging into my account. He would make sure the balance was healthy and still guaranteed the funds personally which he clarified in a waiver/extension of his first proposition with the guarantee of 20K by himself as well as 500Option.
During this period of course I checked the balance regularly. I saw he was trading on my behalf. I saw the balance (25K) fluctuate to 35K; 57K; 47K; 33K; I had no doubt.
On the 19th April I saw he lost 23K trading! I immediately changed the password of my account and repeatedly tried to get in touch with him. He did not answer on skype. I could not get through on the phone. I sent an email on the 20th regarding an appointment with the bank. I got the following message back:
From: Hickey, Kathy [
Sent: Wednesday, April 20, 2016 10:11 AM
To: Frank Bass <frank@500option.com>
Subject: RE: Frank Bass
Good morning Frank,
I do hope you are feeling much better after your incident.
Would you reserve 1 hour time-frame on Thursday 28th at 15:00hrs (NL time-frame). I have an appointment with the bank and we want to involve you in the discussion for the 75K Loan. Can you free-up the time then or other preference?
Please confirm to me that my funds will be returned to my bank to Thursday latest in order to clear the existing loan and take-out the 75K.
“From: Frank Bass [mailto:frank@500option.com]
Sent: woensdag 20 april 2016 9:20
To: Hickey, Kathy
Subject: RE: Frank Bass
good morning kathy
I am honestly not interested in your 75K.
I have explained several times that the money deposited has no effect on my portfolio whereas the things i can do for you can change your life
you have changed the password in the account and not given me 1 day of peace and mind to do my job after endless amounts of discussion between us and the hardships i had to go through in your account.
I will be transferring you by the end of the day to one my senior brokers, you have reminded me why it is impossible to help the small person, dealing with your concerns has become a secondary job.
Im sorry this had to come here, the broker has the details of your withdrawal and will discuss continuation with thereafter.
My personal advice is never invest again, your just not cut out for it.
For the most part it was a pleasure and thankyou for your business.
Regards,
Frank BassChief Of Finanical Operations
Phone: +442038070216Email: frank@500option.comSkype: frank.b500option
http://www.500option.com
No other broker called me – no one answers my mails – nor telephone calls.
I have desperately trying to get my 20K (at least) back from this swindle I have stupidly been part of. I had only one focus – clear my debt.
Well I’m now in more debt thanks to this.
