RESOLVED Case# 2016-003 | Omid Rashid vs optionsxo.com

Based on the available evidence, do you believe that OptionsXO.com is guilty?

  • Guilty

    Votes: 63 100.0%
  • Not Guilty

    Votes: 0 0.0%

  • Total voters
    63
  • Poll closed .

Omid Rashid

Corporal
Messages
80
Original FPA Traders Court Submission:

I am submitting the case against: www.optionsxo.com

My Case is: I opened an account with OptionsXO April of 2015. I was assigned to a broker by the name of Mark Browne. He convinced me to deposit $3000 US. He made some trades, won some and lost some. He then convinced me to deposit more, and so I did. We come to a point in July of 2015, where he calls me and tries to convince me to open a pounds account and deposit more money to that account temporarily so that he can transfer all the funds that I had in the US account to the pounds account. His reasoning was that the US market would crash and I would lose most of the money. I deposited a total of 12,500 GBP via credit card and bank deposit. THIS WAS SUPPOSE TO BE TEMPORARY. A month later, the CEO of OptionsXO Scott Green calls me and tells me that Mark Browne has been fired due to losing clients money including mine. He gave both of my accounts to another broker by the name of Glen Nelson.


Glen made some trades for me and made profit on both accounts. At this point I was ready to withdraw and close the accounts, because I did not feel comfortable anymore, however Glen convinced me to not close the accounts and give him another month until end of the year and make couple of more trades, than by the end of the year he would withdraw all the money for me, since OptionsXO does not want to have possession of all clients money beginning of the new year, since they would have to pay lots of taxes.


He made two big trades on Apple Stock and Gold, both plummeted. He called me on December 22, 2015, telling me that all my money is at risk since the investments are not going well. He advises me to buy insurance a total of 10,000 US dollars so that he can release the money invested back into the account. At this point I am totally broke and I had invested close to $40,000 CAD. I got a bank loan and I wire transferred it to him on December 23, 2015.


He said the money invested will be released and the $10,000 insurance money will all be put back into the account on January 4th or 5th and I can withdraw all. It is January 5th, my accounts have been blocked on the website,he has deleted me off of Skype, and when I call the company number, it does not even ring.

I have invested a total of close to $54,000 CAD

I have only uploaded a few documents to support my case. I have a lot of pictures and evidence if required.

New thread in the Scam Alerts Folder:

Review is submitted by Omid Rashid on 01/05/16

The company was first contacted about the issue on 12/28/15 the last contact was on 01/05/16

Details: No replies.

Glen Nelson has deleted me from Skype as of January 5, 2016.
When I call their main directory line, it does not ring.

Company representatives' emails: Glen Nelson<glen@optionsxo.com>
Scott Green<scottg@optionsxo.com>

 

Attachments

AsstModerator

FPA Forums and Reviews Admin
Messages
5,592
Hello Omid,

This is your case thread. While it's still in the Court Case Preparation Folder, only a few people can see it. Please don't send out or post any links to it until it moves to Open Cases.

For now, please go ahead and email a link to your thread in Scam Alerts to Glen, Scott, and anyone else you have an address for at OptionsXO. Ask them to come to that thread and explain the company's view of the issue. Please post an update in both threads when you've done this.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,592
Thanks for the reminder. I've just sent the formal invitation. On Tuesday, please post an update here about whether they've contacted you. If they've maintained their silence, then this will move to Open Cases.
 

Omid Rashid

Corporal
Messages
80
I made a withdraw request on January 12, 2016 and I found out today that they had cancelled my requests. OptionsXO, I just want my money back. Why are you not calling me back. I keep calling and request to speak to financial department and or John Swift, but no one calls me back.
 

Attachments

Omid Rashid

Corporal
Messages
80
Hi AsstModerator,

Do no remove the thread. I thought they are cooperating, but they are not really complying with withdrawing my money.

Please move this to open course case.

Thanks
 
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