Myoption drag my withdrawal request with lies and other delay tactics


After noticing the absence of their regular traders (the successful ones who somehow always manage to catch the highs and the lows) from the social trading display even during the announcement of big events, I had this nagging suspicion that something might be wrong with the company. I also need funds urgently so I tried to do a withdrawal of USD5k from my account on 13 May 2015.

This was met with endless lies from myoption account manager Steve Verbinsky and using billing department as delaying tactics saying that they have rejected my withdrawal request as I have yet to meet their trading volume. I need to stress that I did not sign any T&C about the trading volume.

In between, Myoption had the audacity to charge my card again for USD4056 saying that the payment portal (GTS) that they used to process my payment previously is no longer in business. So they had to charge it to Duellator and then process a refund of the $4056 then followed by my $5k withdrawal. This is another lie, recently I sent a test email to GTS using the transaction confirmation that they sent me last time and they responded to it.

Then SV told me that in order for Myoption to remit my money to me i need to pay bank fee of USD500 and they charged my card again on 1 Jun for this amount. He later told me on 16 Jun that billing has approved the withdrawal on 12 Jun and confirmed that i will receive payment on 18 Jun. They can charge bank fee on 1 Jun and only approve it on 12 Jun??

On 18 Jun, i checked with SV again on payment status, he rebuked me for chasing him for status everytime. Those are my money so i don't understand what is wrong with me chasing for it. If they would just pay me, i will not need to chase him. I decided not to deal with that conniving liar and to liaise with directly. I also found it weird that he only asked me to submit the withdrawal forms but did not ask for identity verification documents like copy of ID, copy of credit card (front & back), utilities statement with address, etc. So i did a live chat with Maria and she instructed me to send those documents.

After multiple lies and contradiction in their statements, I had serious doubts about the integrity of this company with its dodgy and shady business practices. So I submitted all the necessary documents to Myoption for a withdrawal of all the funds in my trading account and to close it on 29 Jun 2015. There was no reply. Then i noticed that they added a bonus of $3972 to my account on 1 Jul 2015 which i conclude is to keep my deposits locked. I did a live chat to ask for status on 2 Jul 2015.

The live chat agent Maria told me that i am missing some volume, that is why my withdrawal is pending. I told her very firmly that the amount that i requested does not include any bonus and in fact i had losses of about 2k. I am a fair person and I only want back my deposited funds. I also forwarded to the acknowledgement letter to my complaint from CySec. Maria appears to be manning that email as well because after she read it, she said she will investigate the case and put it on first priority. She said she will forward the case to her CEO who will arrive on 17 Jul 2015. CEO my foot! Probably another lie. I told her i am not going to wait that long and is going to proceed with filing my complaint with FCA, and the Interpol and ended the livechat. I then received an email from addressed by Maria saying that they will refund the 500 bank fee to my card next week. This I believe is again another lie just to buy time.

No legitimate investment company will stop a client from withdrawing their deposited funds. Failure to return my money amounts to a misrepresentation since they state very clearly on their FAQ that they do not restrict withdrawal of client funds even if they have received a bonus.

I searched their company address on google map. It appears to be on a prestigious location but is apparently a shell company that uses the address Kemp House, 152 City Road, London EC1V 2NX to set up virtual offices. The Singapore contact number is also fake, google search show that it is actually the contact number for vastspace. Honest companies do not use fake addresses and hide behind shells.

Please help me to get my deposits back from this scam company. My hard earned money should not be used to fund these conmen.


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Gather all your evidence and have a long talk with the fraud department at your credit card's issuing bank. Explain how the broker made an extra charge and is not following through on the withdrawal service they are supposed to be providing.

Since there's a London address, there's no harm in contacting ActionFraud.
I have already contacted my bank and requested a charge back of all transactions done to Myoption.

I have also contacted ActionFraud and have received a confirmation of my fraud report from them.
If you like, you can also file all the information with
Pharaoh, I have filed a complaint with as suggested. Thank you.

Just to update on the case, they failed to refund me the bank fee last week. Today another binary option company called me from also from UK with this number +44 20 3129 4109. I suspect that Myoption distributed my personal information to this company when I submitted the required documentation for funds withdrawal. I would like to caution people who are planning to join these scam companies to think thrice, they can easily commit identity theft with your ID, phone/utilities statement that has your address, your credit card information that you need to submit for their so called "verification". Do not trust any of these people. You don't know them and they are overseas. Would you trust some strangers with all your personal information? You are better off trusting your banks.

Here's an official warning from UK Gambling commission
UK Gambling Commission issues warning over binary options scam | iGaming Business
Here's a rule to live by.

No good investment opportunity gets solicited by cold calling. Telemarketed investment opportunities make lots of money, but not for the people receiving the calls.
Myoption is now under investigation for fraud as per updates on this independent reviewer website.
Dear all,
I am financial lawyer and have many cases like that. unfortunately i compared what the client mentioned and what really mentioned on the website till the end.
The client shows she is not aware of policy 100%.
regarding the other fees and other things. please contact the top management like Chief financial officer, chief executive officer . since many of cases the top management does not know what it is really happening.
In case if you could not reach them, please allow me to share my contact and authorize me to talk to them.
At the end you need to solve all the issues.

allow me to comment on your thread that it is fully of emotions, I do recommend to talk to the decisions makers of the company, not to account managers.
Wish my info will be helpful for you.
Their CFO (Chef Financial Officer - that is how he spelt it at the signature of his initial email to me) contacted me. Please see below. His email address is Does that mean anybody in the company can access the generic mailbox and then pose as CFO? Notice then when i reply to him, his email address changes to "Marketing". I will arrange a call with him and see what he proposes though I don't understand why won't he just mention them in the email so that things can get documented.

Ibrahim, i appreciate your comments. It will be good if you can explain the policy regarding the other fees and other things that i have failed to be aware of so that the rest of us who are not law trained can learn to spot the loophole on the website and other websites.


Dear Ms. Sharon.
Myoption fully abide with the terms and conditions of Bonus policy. Unfortunately you do accept what you want from this agreement and neglect the other things.
Please let us don’t involve with who is mistaken in this case. My job to take further step and solve all the issues.
Could we arrange a phone call to discuss. Please let it business call.
From this moment, you are dealing with me.

Andrew Cohen

From: Sharon Wong
Date: Tuesday, July 28, 2015 at 2:54 AM
To: Marketing
Subject: Re: Account With MyOption

Dear CFO,

I am very clear about the terms that I agreed to and what I did not agree to. Your rules and terms and conditions change at your whims and fancy after the fact. You did not honor your agreements to me to let me withdraw my money without restrictions which should be part of the services that your provide. Respectable companies honor their words and carry out what they promised contrary to scam companies. You have dishonest people in your organization like Steven verbinsky and Maria who lied repeatedly and now you want me to listen to you? Go ahead and play the recorded teleconversations between Steven and me and go listen to what he assured me regarding funds withdrawal. Who in their right mind would invest in a company that locks their funds in?? Come on, will you do it? We can argue about this until the cows come home and still unable to reach a conclusion if you only see things as you want it.

By the way, CFOs that I have dealt with are usually very busy and professional people who will cut the chase instead of beating around the bush.


On 27 Jul, 2015, at 6:52 pm, Andrew Cohen <> wrote:

I did not offer anything yet. How you could accept it.
Sharon, there is a rules and terms and conditions.

We do recommend to be calm and listen to our proposals.


From: Sharon Wong
Date: Monday, July 27, 2015 at 1:21 PM
To: Marketing
Subject: Re: Account With MyOption

You are not accepting anything either. I don't think I can be any clearer about my intention. As a customer, I am informing you that I wish to withdraw all my funds but you are not able to listen it. Instead, you want me to accept the conditions that you dish out on the pretext of helping me.

How does your company work like that?


Sent from my iPhone

On 27 Jul, 2015, at 4:40 pm, Andrew Cohen <> wrote:

Dear Ms.Sharon,
You are not accepting anything, any small things that could help your account you are not able to listen it.
You are declining everything single step.
As CFO of this company, you refused the help could you present.

How do you see the things like that?

From: Sharon Wong
Date: Monday, July 27, 2015 at 11:02 AM
To: Marketing
Subject: Re: Account With MyOption

It would be a great help if you could just return all my deposited funds.

Thank you very much.

Sent from my iPhone

On 27 Jul, 2015, at 3:03 pm, Andrew Cohen <> wrote:

Dear Ms.Sharon,
I think it is not the way to solve your issue when you are posting several articles.

I am here to help, and make you satisfied. But you are neglecting all our requests.


From: Sharon Wong
Date: Saturday, July 25, 2015 at 3:20 AM
To: Marketing
Subject: Re: Account With MyOption

The story is in forexpeacearmy scam alert thread. You can address it from there if you like.

Myoption drag my withdrawal request with lies and other delay tactics

Sent from my iPhone

On 24 Jul, 2015, at 6:34 pm, Andrew Cohen <> wrote:

Dear Ms. Sharon Wong.
Sincere apologize regarding for delay to write for you this letter. I was on business trip for several days.

My name is Andrew Cohen, CFO at At my first priroty your account status.

Would you please arrange a phone call in order to listen to story since beginning from your side.

Looking forward to hear from you

Andrew Cohen
Chef Financial Officer
International: +442035192169
Oh Sharon,
You are very funny person. He is writing for you to help and you treat him badly. You are not in good position to negotiate.
But from his answer he does not like nonsense words. he just want to move forward with your account.
I think the solution was with your hands but emotions let you close your eyes. remember your target to get your money back. partly or fully. you need to understand that your aim the money back.

Just please keep in mind that you were not aware of policy from the beginning thus guide to such problem. try to act you dont know. you will have better chance to negotiate.

regarding email changed to marketing, probably you saved the account under some names. thus shows like this.
from My experience, if the top management start contacting you, means they care about the client which is good in general.
I have case with saudi client his 150K$ vanished from his account in one night. and none of employee was able to answer any call or email. we are in deep investigations with authorities .

Please if you need any legal advices or to authorize me to speak to them I am ready for that.
Thanks & good luck