31/10/2016
I am a Australian resident and a competent trader with over 15 years experience in trading Futures and Forex markets.
MY CASE-MAIN POINTS:
1. That Optionrally Binary Options Broker and their Senior Account Manager: Mr Bobby Conway of Level 26, 1 Bligh Street, Sydney; have intentionally defrauded me of USD$5000 deposit from Visa Card plus USD$15699.34 in hard-earned profits via a pre-meditated and intentionally deceptive/obscured 'bonus' system which is designed to intentionally prevent any clients from being able to withdraw profits from their trading accounts.
2. That between the dates of 28/10/15 - 1/2/16 Mr Conway consciously but (secretly) ran up 'bonus' debts on my Trading Account to the amount of -USD$11026 x 50 = -USD$551300 deficit, which debt amount is not shown on client's Account Balance page; in an attempt to intentionally mislead client and misrepresent the client's true account balance. (An Optionrally Senior Account Manager MUST surely be aware of the Optionrally bonus system and its effect on client accounts.)
3. That the scam was sold by Mr Conway as a professional "Insured Trades" arrangement (see email example below) that had no negative impact on client account; that at no point in our communications did Mr Conway ever mention the word "bonus" or that there was any risk to client account due to the professional "Insured Trades" arrangement;
4. That I instructed Mr Conway on 5/1/2016 that he was not to place any further trades on my account due to his poor trading technique and performance record, and that I would trade and manage my account exclusively from this date forward;
5. That I managed/traded my account exclusively from the 5/2/2016 - 14/5/2016 achieving USD$15699.34 in profits to an account balance of USD$20699.34 and incurred NO insurance/bonus payments to my account from my trading activities and thus I am not responsible for "bonus" debts and their consequences (as incurred on my account by Mr Conway);
6. That I made 5 withdrawal requests between 1/3/16 - 14/5/16 that were not honoured by Optionrally and that neither Mr Conway or the International Optionrally Brokerage Company could provide to me, a reason as to why I could not withdraw funds from my trading account.
7. That Optionrally Withdrawals Dept. finally revealed a "reason" on my account page after my 6th Withdrawal request was cancelled on 14/5/2016: "Bonus did not reach the turnover", which led me to research their Legal page myself and unveil their Optionrally Fraud/Scam system.
8. That I sent an email to Mr Conway on 16/5/2016 stating that if my withdrawal request was not honoured by 31/5/2016, I was left with little option than to approach the authorities to recover my monies (which I am now doing). Mr Conway has had no contact with me since that date;
9. That I received an email on 3/6/2016 from Optionrally Jennifer Fox, stating that she was now my newly appointed account manager (In my opinion Mr Conway is attempting to abdicate all responsibility for my account deficit and the debts that he has run up on my trading account and answer questions by hand-balling my account to a new account manager);
10. That although Optionrally is not regulated by ACCC etc, it does have a physical shop presence at Level 26, 1 Bligh Street, Sydney; which existence is denied by Optionrally staff (it is registered as ''EU Investment Broker'', not under Optionrally name) ; (and which should NOT be allowed continued operation in Australia: which has over 662,000 Australian Customers alone, ALL who are being defrauded of their funds in the same manner as myself because the same fraudulent rules apply to all customers. ACCC and Australian Federal Police need to investigate this company immediately).
11. I have had contact with Optionrally regarding this matter but with no success. I need advice on how I should proceed to recover USD$5000 deposit from Visa Card plus USD$15699.34 in profits from Optionrally Australia.
MY CASE: IN DETAIL Peter Donnison Vs. Optionrally. (Account #8031760)
I am a competent trader with over 15 years experience in trading Futures and Forex markets. In October 2015 I was looking to test ''dip my toe'' into trading Binary Options and searching for an ''Binary Options automated trading solution'' to add to my arsenal of trading techniques.
I received an email offer to try REAL PROFITS automated Binary Options trading system with a USD$350 deposit from Mr Anthony DiFranco on 27/10/2015. The deposit page stated that the trading account would be opened with broker Optionrally and that Optionrally would credit a further USD$100 to my new account as a promotional offer (it is interesting in hindsight that this promotional offer under the Optionrally ''bonus scam'' meant that my trade account was now already USD$4650 in deficit before ANY trading activity had commenced. This meant that the ''already deceived client'' had to generate USD$4650 in profits from a USD$450 account balance, before any profits can be withdrawn from client account (an almost impossible task in today's volatile markets). Thus, my account was technically insolvent from the get-go. I did a web search for Real Profits & Optionrally scams & fraud before depositing the money but could find nothing negative about the companies on the web at that time.
Once the $350 was deposited on 28/10/2015 and Optionrally account opened, I received a mobile call from Senior Account Manager Bobby Conway stating that the REAL PROFITS auto-robot was not profitable and that he would be trading my account on my behalf.
When Optionrally trades win, profit return is 100% divided as follows:
Client receives original investment back plus 75% profit,
Optionrally receives 20%,
Account Manager receives 5%.
Starting with a Account balance of USD$450, between (28/10/2015 - 2/11/2015) Mr Conway placed 31 short-term trades on my account of which: 11xwins = +$725, 20xlosses = -$1025, Insured Bonus Depositsx3 = -$775. My Account Balance on 2/11/2015 showed +USD$703.64 profit.
Mr Conway's manner was that of a ''big hype, high pressure salesman...BC: "How much income do you want to make each week Pete?!'' ME: "$3000." BC: ''No problem, I will write up a investment plan on how we will achieve this & email it to you tonight!"
The email was received with accompanying hype mobile call from Mr Conway requesting I deposit a further USD$10000 to achieve a profit target of USD$17500 by the end of December 2015. I did not agree to $10000 deposit. I agreed to the $5000 deposit because my account balance page APPEARED to be making SOME profit. (But in fact undisclosed bonus' amounting to $775 x 50 = -$38750.00 deficit; which I could not know due to the Account Balance page NOT being a TRUE statement of profit/loss, meant my account was indeed already technically insolvent). $5000 I deposited on 3/11/2015 after Mr Conway submitted a new proposal as follows:
(The email copy below clearly shows that the bonus scheme is sold to the client as a trade insurance scheme. No mention is made of the word ''bonus'' or of any negative effect to client trade account resulting from trade insurance:
2/11/2015
Option Rally Financial Services Limited
Level 26 1 Bligh Street Sydney NSW Australia 2000
Office of the Senior Broker
Dear Mr. Pete Donnison,
I would like to confirm our conversation earlier regarding your Investment Plan for your before the end of December the Insurance trading which will run for 2 months with a minimum deposit of $5,000 , Below is the conditions for this offer.
1. A minimum investment of $5,000 would be required from the account holder
2. Insurance trades will only be covered for LONG TERM trades not applicable on Short term , If in an event when the trades losses the funds will be put back on the clients account
3. With an investment of 5,000 by the end of November if the investment wins the account holder(client) has the ability to withdraw funds capital & profits but also have an option to rollover for another month, Same conditions apply.
4. By December the 5,000 will become $8750 and towards end of December $15,312
5. After the 2 months client has the option to reinvest and acquire insurance trading during the available period.
We will continue to work hand in hand to bring your portfolio towards a successful and profitable experience with Option Rally.
Best Regards,
Bobby Conway
Senior Broker General Securities License #011215
Tel: +61281034119, Ext #6031
Bobbyc@optionrally.com
Skype id: bobbyc.capital
Level 26 1 Bligh Street, Sydney, NSW 2000
Throughout November and December 2015, I observed Mr Conway's trade choices on another FX account from my live market charting software which I have with Go Markets. It was clear to me that Mr Conway was an incompetent trader or even a totally ''reckless and irresponsible trader!''
Between (3/11/2015 - 1/2/2016) under the agreed Investment Plan (shown above) Mr Conway placed 13 long-term trades on my account of which: 2xwins = +$2230, 11x losses = -$11131.55 losses of which $10251 were paid back to my account as insured trades .
On 2/1/2016 my account balance page showed USD$7053.09 profit. (But in fact undisclosed bonus' amounting to -$11026 x 50 = -$551300 deficit, meant my account was technically insolvent. This meant that the client had to make further profit of USD$551300 before $1 of profit could be withdrawn from client's account. This is clear fraud by deception and misrepresentation of financial product, plus a Client Account balance page that is designed to intentionally misrepresent the TRUE state of the client's account balance. It is only when the client attempts to withdraw profits from his account and finds his requests rejected by Optionrally that he realizes that something is wrong. I attempted to withdraw profits five times between 1/3/2016 - 14/5 2016 and all were rejected. When I requested that Mr Conway contact the Optionrally Withdrawal Request Department on my behalf he replied that it was a separate dept. over which he had no authority ).
I instructed Mr Conway on 5/1/2016 that he was not to place any further trades on my account due to his poor performance record to which he agreed. From this date onward I placed all trades on my account.
Between 5/1/2016 - 2/5/2016 I built my Account Balance to USD$20699.34. I did not incur and have never incurred any insurance/bonus payments to my account as a result of my trading activities.
After every withdrawal request is made an automated email is sent to client to confirm request and stating that withdrawal request will be processed between 3 - 7 business days. After my first failed attempt to withdraw funds on 1/3/2016 I asked Mr Conway's advice and he said that I must make a withdrawal request of original USD$350 to credit card firstly and then afterward withdrawal request of further funds via wire transfer to my NAB bank account, which I did. The USD$350 was credited to my Visa account but no other withdrawal requests have been honoured.
I had no knowledge of any deficits on my account until 14/5/2016, after which I had made 5 failed attempts to withdraw funds from my Optionrally Account between 1/3/2016 - 14/5/2016, over which period neither the Optionrally Withdrawals Dept. or Mr Conway would provide me with any "reason" as to why my Withdrawal Requests had been cancelled/unprocessed; Optionrally Withdrawals Dept. finally revealed a "reason" on my account page after my 5th Withdrawal request was cancelled on 14/5/2016: "Bonus did not reach the turnover", which led me to research their legal pages for word "Bonus" and unveil their Optionrally Fraud/Scam system.
I declare that Optionrally Binary Options Brokers, between the dates of 28/10/2015 - 14/5/2016, have defrauded me of $USD5000 deposit and USD$15699.34 in profits which they will not allow me to withdraw because of an unfair and intentionally undisclosed bonus deficit scheme of which existence I was intentionally deceived, misled and misinformed by Optionrally Senior Account Manager: Mr Bobby Conway, Level 26, One Bligh Street, Sydney, Australia; of the following professional trading matters:
1. that 'Long Term Insured Trades' as freely offered by Optionrally/Mr Conway were in fact calculated as a Bonus deficit to my account multiplied by FIFTY; (totally unreasonable multiple that should be declared to the client as ''large risk'' from the outset of opening a trading account).
2. that between 28/10/2015 - 15/1/2016 Mr Conway managed/traded my account exclusively and only he ran up ALL deficits on my account of USD$ -$11026 x 50 = -$551300 deficit.
4. that I then managed/traded my account exclusively from the 5/2/2016 - 14/5/2016 achieving USD$15699.34 in profits to an account balance of USD$20699.34 and incurred NO insurance/bonus payments to my account from my trading activities;
5. that the "Client Account Balance" page and "Available for Withdrawal" page is not a TRUE and FAIR statement of the client's REAL Account Balance and Balance Available for Withdrawal , and as such the Client Account Balance and Withdrawal pages have been intentionally designed to mislead and misinform the client of their TRUE and FAIR Account Balance information;
6. that there is no provision by Optionrally on Client's Account page that allows the client to confirm their TRUE and FAIR account /deficit balance;
7. that Mr Conway has (in my opinion) intentionally evaded mentioning by phone or in email that the 'Long Term Insured Trades' scheme is in fact a deficit Bonus scheme against the Client's Account with a multiple of 50. It is reasonable to suggest that a Senior Account Manager would be well aware of this scheme and its implications on the client account.)
9. that Optionrally does not allow provision for Client Account Balance/Financial History/Balance History to be printed out on client's home PC for taxation compliance etc., (as do other broker trading platforms around the world...fortunately I took an entire screenshot history of my Optionrally Account Balance/Financial History/Balance History/Trade History + email trail etc. so that I have all evidence to support this case).
I am happy to provide any further information to aid in the recovery of my funds and removal of this criminal organization from Australia.
Regards
Peter Donnison
I am a Australian resident and a competent trader with over 15 years experience in trading Futures and Forex markets.
MY CASE-MAIN POINTS:
1. That Optionrally Binary Options Broker and their Senior Account Manager: Mr Bobby Conway of Level 26, 1 Bligh Street, Sydney; have intentionally defrauded me of USD$5000 deposit from Visa Card plus USD$15699.34 in hard-earned profits via a pre-meditated and intentionally deceptive/obscured 'bonus' system which is designed to intentionally prevent any clients from being able to withdraw profits from their trading accounts.
2. That between the dates of 28/10/15 - 1/2/16 Mr Conway consciously but (secretly) ran up 'bonus' debts on my Trading Account to the amount of -USD$11026 x 50 = -USD$551300 deficit, which debt amount is not shown on client's Account Balance page; in an attempt to intentionally mislead client and misrepresent the client's true account balance. (An Optionrally Senior Account Manager MUST surely be aware of the Optionrally bonus system and its effect on client accounts.)
3. That the scam was sold by Mr Conway as a professional "Insured Trades" arrangement (see email example below) that had no negative impact on client account; that at no point in our communications did Mr Conway ever mention the word "bonus" or that there was any risk to client account due to the professional "Insured Trades" arrangement;
4. That I instructed Mr Conway on 5/1/2016 that he was not to place any further trades on my account due to his poor trading technique and performance record, and that I would trade and manage my account exclusively from this date forward;
5. That I managed/traded my account exclusively from the 5/2/2016 - 14/5/2016 achieving USD$15699.34 in profits to an account balance of USD$20699.34 and incurred NO insurance/bonus payments to my account from my trading activities and thus I am not responsible for "bonus" debts and their consequences (as incurred on my account by Mr Conway);
6. That I made 5 withdrawal requests between 1/3/16 - 14/5/16 that were not honoured by Optionrally and that neither Mr Conway or the International Optionrally Brokerage Company could provide to me, a reason as to why I could not withdraw funds from my trading account.
7. That Optionrally Withdrawals Dept. finally revealed a "reason" on my account page after my 6th Withdrawal request was cancelled on 14/5/2016: "Bonus did not reach the turnover", which led me to research their Legal page myself and unveil their Optionrally Fraud/Scam system.
8. That I sent an email to Mr Conway on 16/5/2016 stating that if my withdrawal request was not honoured by 31/5/2016, I was left with little option than to approach the authorities to recover my monies (which I am now doing). Mr Conway has had no contact with me since that date;
9. That I received an email on 3/6/2016 from Optionrally Jennifer Fox, stating that she was now my newly appointed account manager (In my opinion Mr Conway is attempting to abdicate all responsibility for my account deficit and the debts that he has run up on my trading account and answer questions by hand-balling my account to a new account manager);
10. That although Optionrally is not regulated by ACCC etc, it does have a physical shop presence at Level 26, 1 Bligh Street, Sydney; which existence is denied by Optionrally staff (it is registered as ''EU Investment Broker'', not under Optionrally name) ; (and which should NOT be allowed continued operation in Australia: which has over 662,000 Australian Customers alone, ALL who are being defrauded of their funds in the same manner as myself because the same fraudulent rules apply to all customers. ACCC and Australian Federal Police need to investigate this company immediately).
11. I have had contact with Optionrally regarding this matter but with no success. I need advice on how I should proceed to recover USD$5000 deposit from Visa Card plus USD$15699.34 in profits from Optionrally Australia.
MY CASE: IN DETAIL Peter Donnison Vs. Optionrally. (Account #8031760)
I am a competent trader with over 15 years experience in trading Futures and Forex markets. In October 2015 I was looking to test ''dip my toe'' into trading Binary Options and searching for an ''Binary Options automated trading solution'' to add to my arsenal of trading techniques.
I received an email offer to try REAL PROFITS automated Binary Options trading system with a USD$350 deposit from Mr Anthony DiFranco on 27/10/2015. The deposit page stated that the trading account would be opened with broker Optionrally and that Optionrally would credit a further USD$100 to my new account as a promotional offer (it is interesting in hindsight that this promotional offer under the Optionrally ''bonus scam'' meant that my trade account was now already USD$4650 in deficit before ANY trading activity had commenced. This meant that the ''already deceived client'' had to generate USD$4650 in profits from a USD$450 account balance, before any profits can be withdrawn from client account (an almost impossible task in today's volatile markets). Thus, my account was technically insolvent from the get-go. I did a web search for Real Profits & Optionrally scams & fraud before depositing the money but could find nothing negative about the companies on the web at that time.
Once the $350 was deposited on 28/10/2015 and Optionrally account opened, I received a mobile call from Senior Account Manager Bobby Conway stating that the REAL PROFITS auto-robot was not profitable and that he would be trading my account on my behalf.
When Optionrally trades win, profit return is 100% divided as follows:
Client receives original investment back plus 75% profit,
Optionrally receives 20%,
Account Manager receives 5%.
Starting with a Account balance of USD$450, between (28/10/2015 - 2/11/2015) Mr Conway placed 31 short-term trades on my account of which: 11xwins = +$725, 20xlosses = -$1025, Insured Bonus Depositsx3 = -$775. My Account Balance on 2/11/2015 showed +USD$703.64 profit.
Mr Conway's manner was that of a ''big hype, high pressure salesman...BC: "How much income do you want to make each week Pete?!'' ME: "$3000." BC: ''No problem, I will write up a investment plan on how we will achieve this & email it to you tonight!"
The email was received with accompanying hype mobile call from Mr Conway requesting I deposit a further USD$10000 to achieve a profit target of USD$17500 by the end of December 2015. I did not agree to $10000 deposit. I agreed to the $5000 deposit because my account balance page APPEARED to be making SOME profit. (But in fact undisclosed bonus' amounting to $775 x 50 = -$38750.00 deficit; which I could not know due to the Account Balance page NOT being a TRUE statement of profit/loss, meant my account was indeed already technically insolvent). $5000 I deposited on 3/11/2015 after Mr Conway submitted a new proposal as follows:
(The email copy below clearly shows that the bonus scheme is sold to the client as a trade insurance scheme. No mention is made of the word ''bonus'' or of any negative effect to client trade account resulting from trade insurance:
2/11/2015
Option Rally Financial Services Limited
Level 26 1 Bligh Street Sydney NSW Australia 2000
Office of the Senior Broker
Dear Mr. Pete Donnison,
I would like to confirm our conversation earlier regarding your Investment Plan for your before the end of December the Insurance trading which will run for 2 months with a minimum deposit of $5,000 , Below is the conditions for this offer.
1. A minimum investment of $5,000 would be required from the account holder
2. Insurance trades will only be covered for LONG TERM trades not applicable on Short term , If in an event when the trades losses the funds will be put back on the clients account
3. With an investment of 5,000 by the end of November if the investment wins the account holder(client) has the ability to withdraw funds capital & profits but also have an option to rollover for another month, Same conditions apply.
4. By December the 5,000 will become $8750 and towards end of December $15,312
5. After the 2 months client has the option to reinvest and acquire insurance trading during the available period.
We will continue to work hand in hand to bring your portfolio towards a successful and profitable experience with Option Rally.
Best Regards,
Bobby Conway
Senior Broker General Securities License #011215
Tel: +61281034119, Ext #6031
Bobbyc@optionrally.com
Skype id: bobbyc.capital
Level 26 1 Bligh Street, Sydney, NSW 2000
Throughout November and December 2015, I observed Mr Conway's trade choices on another FX account from my live market charting software which I have with Go Markets. It was clear to me that Mr Conway was an incompetent trader or even a totally ''reckless and irresponsible trader!''
Between (3/11/2015 - 1/2/2016) under the agreed Investment Plan (shown above) Mr Conway placed 13 long-term trades on my account of which: 2xwins = +$2230, 11x losses = -$11131.55 losses of which $10251 were paid back to my account as insured trades .
On 2/1/2016 my account balance page showed USD$7053.09 profit. (But in fact undisclosed bonus' amounting to -$11026 x 50 = -$551300 deficit, meant my account was technically insolvent. This meant that the client had to make further profit of USD$551300 before $1 of profit could be withdrawn from client's account. This is clear fraud by deception and misrepresentation of financial product, plus a Client Account balance page that is designed to intentionally misrepresent the TRUE state of the client's account balance. It is only when the client attempts to withdraw profits from his account and finds his requests rejected by Optionrally that he realizes that something is wrong. I attempted to withdraw profits five times between 1/3/2016 - 14/5 2016 and all were rejected. When I requested that Mr Conway contact the Optionrally Withdrawal Request Department on my behalf he replied that it was a separate dept. over which he had no authority ).
I instructed Mr Conway on 5/1/2016 that he was not to place any further trades on my account due to his poor performance record to which he agreed. From this date onward I placed all trades on my account.
Between 5/1/2016 - 2/5/2016 I built my Account Balance to USD$20699.34. I did not incur and have never incurred any insurance/bonus payments to my account as a result of my trading activities.
After every withdrawal request is made an automated email is sent to client to confirm request and stating that withdrawal request will be processed between 3 - 7 business days. After my first failed attempt to withdraw funds on 1/3/2016 I asked Mr Conway's advice and he said that I must make a withdrawal request of original USD$350 to credit card firstly and then afterward withdrawal request of further funds via wire transfer to my NAB bank account, which I did. The USD$350 was credited to my Visa account but no other withdrawal requests have been honoured.
I had no knowledge of any deficits on my account until 14/5/2016, after which I had made 5 failed attempts to withdraw funds from my Optionrally Account between 1/3/2016 - 14/5/2016, over which period neither the Optionrally Withdrawals Dept. or Mr Conway would provide me with any "reason" as to why my Withdrawal Requests had been cancelled/unprocessed; Optionrally Withdrawals Dept. finally revealed a "reason" on my account page after my 5th Withdrawal request was cancelled on 14/5/2016: "Bonus did not reach the turnover", which led me to research their legal pages for word "Bonus" and unveil their Optionrally Fraud/Scam system.
I declare that Optionrally Binary Options Brokers, between the dates of 28/10/2015 - 14/5/2016, have defrauded me of $USD5000 deposit and USD$15699.34 in profits which they will not allow me to withdraw because of an unfair and intentionally undisclosed bonus deficit scheme of which existence I was intentionally deceived, misled and misinformed by Optionrally Senior Account Manager: Mr Bobby Conway, Level 26, One Bligh Street, Sydney, Australia; of the following professional trading matters:
1. that 'Long Term Insured Trades' as freely offered by Optionrally/Mr Conway were in fact calculated as a Bonus deficit to my account multiplied by FIFTY; (totally unreasonable multiple that should be declared to the client as ''large risk'' from the outset of opening a trading account).
2. that between 28/10/2015 - 15/1/2016 Mr Conway managed/traded my account exclusively and only he ran up ALL deficits on my account of USD$ -$11026 x 50 = -$551300 deficit.
4. that I then managed/traded my account exclusively from the 5/2/2016 - 14/5/2016 achieving USD$15699.34 in profits to an account balance of USD$20699.34 and incurred NO insurance/bonus payments to my account from my trading activities;
5. that the "Client Account Balance" page and "Available for Withdrawal" page is not a TRUE and FAIR statement of the client's REAL Account Balance and Balance Available for Withdrawal , and as such the Client Account Balance and Withdrawal pages have been intentionally designed to mislead and misinform the client of their TRUE and FAIR Account Balance information;
6. that there is no provision by Optionrally on Client's Account page that allows the client to confirm their TRUE and FAIR account /deficit balance;
7. that Mr Conway has (in my opinion) intentionally evaded mentioning by phone or in email that the 'Long Term Insured Trades' scheme is in fact a deficit Bonus scheme against the Client's Account with a multiple of 50. It is reasonable to suggest that a Senior Account Manager would be well aware of this scheme and its implications on the client account.)
9. that Optionrally does not allow provision for Client Account Balance/Financial History/Balance History to be printed out on client's home PC for taxation compliance etc., (as do other broker trading platforms around the world...fortunately I took an entire screenshot history of my Optionrally Account Balance/Financial History/Balance History/Trade History + email trail etc. so that I have all evidence to support this case).
I am happy to provide any further information to aid in the recovery of my funds and removal of this criminal organization from Australia.
Regards
Peter Donnison
