Resolved - Potential Interactive Option Scam

[Master Yoda]

For those who think the complaining to regulators is useless, this is proof that at least some of the time it will get a broker to start responding.

As I always say: if it doesn't help, it won't hurt.

 

[Theb]

alrighty, first the good news. I have partially received my money (450 out of 500 €).

I have written them now asking when I can expect my remaining 50. I guess they will spin a tale that these are transaction costs or so.

definitely a 'broker' to stay away from!

 

[Theb]

I am unlikely to see that 50 € as they have a pretty mean withdrawal policy : http://www.interactiveoption.com/banking/withdrawal-policy.

I should have read that better .

oh well at least I got most of my money back.

 

[ruseneca]

I am unlikely to see that 50 € as they have a pretty mean withdrawal policy : http://www.interactiveoption.com/banking/withdrawal-policy.

I should have read that better

That's a great news
Really, be sure to check all terms before opening an account. Some BO brokers put so harsh conditions that noone would even open an account with them. Condition like "User must pay $X per day in case there's no opened order for that day".
As per withdrawal commissions, almost 90% of brokers apply such commissions. ( lots of payperwork to do )
Lately, forex brokers introduced withdrawal commissions, too. So, be sure to check all commissions before withdrawing - taken by broker and payment systems.

 

[Master Yoda]

I am unlikely to see that 50 € as they have a pretty mean withdrawal policy : http://www.interactiveoption.com/banking/withdrawal-policy.

I should have read that better .

oh well at least I got most of my money back.

These are really mean withdrawal procedures

 

[undertaker]

email from my account manager

As discussed, due to technical issue of the software 500 EUR have been refunded to your account.

Sorry for inconveniences.

Will be happy to work with you in the future.

Not too many cases in this folder can be solved like this. Congrat you! Your broker attemp should be appreciated and you should keep trading with them.

 

[Theb]

Not too many cases in this folder can be solved like this. Congrat you! Your broker attemp should be appreciated and you should keep trading with them.

not sure if you are being sarcastic or not.

okay, I'll bite: no thanks this broker is off my list.

you seem to forget the amount of pressure and time I have spent solving this. If I would have not been so stubborn and 'aggressive' I would never have seen my money. 99% of people would be screwed by a scammy broker like that.
This is in their business model calculation that only x% of people really play the game hard.

then again, I can also only blame myself for not having done my due diligence properly.

 

[Theb]

the customer service manager reached out to me about this 50€.

He told me it is according to the withdrawal policy.
So I told him I understand the 5%, but I wanted to understand what part of the withdrawal policy they used to justify the other 5%.

He then replied that it was 5% of a 1000€ withdrawal. To which I then stated the obvious ... let's see how he reacts

 

[Pharaoh]

Glad to hear that you got most of your money and are still fighting for the rest of it. If even half of traders fought this hard, there would be a lot less scammers running loose.

 

[ruseneca]

the customer service manager reached out to me about this 50€.

He told me it is according to the withdrawal policy.
So I told him I understand the 5%, but I wanted to understand what part of the withdrawal policy they used to justify the other 5%.

He then replied that it was 5% of a 1000€ withdrawal. To which I then stated the obvious ... let's see how he reacts

@Theb, the other 25€ might have come as a commission taken from the bank to process the wire transfer. Banks usually don't work for free Especially in Europe.