UKOptions - withdrawal problems


I have experienced significant problems trying to withdraw my remaining balance from my account with UKOptions
On Feb 25 I deposited €2500 with this broker. I've done some trading but not a great amount. And although my initial broker tried to make me loose quite a lot of money on the NFP in March, the losses were limited by placing smaller trades than he wanted me to. Since then I've won some trades too, so all in all I've managed to keep the initial capital almost intact (€2397 remaining). On March 7 I requested to withdraw €1000 from my account. They responded by thanking me for the request. The day after, on March 8, another person than me, i.e. a broker, placed trades without my approval. A week later I was approached by a more "senior" broker, who tried to convince me into trading more. When I didn't want to, I discovered later that the password for logging in had been changed. I managed to reset my password, and on March 22 I made another withdrawal request, to which they didn't even respond at all. After several failed attempts from various representatives, trying to persuade me into placing more trades, I made one last withdrawal request on April 16, which they confirmed to have received on April 18. I have sent several emails and messages, and I've also tried to reach them on the phone, without success. They actually hung up, and when I tried to call again, I was placed on permanent hold. After 51 minutes, I gave up.

I have never received any bonus, and the company has previously confirmed they have received all requested documents in order for the account to be verified. I do not claim any refund for the rather moderate losses I have experienced. I am aware of the risks of trading. I merely claim the remaining part of the money I deposited. I would deeply appreciate any help or advice I may get. Thank you.


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2nd - Invite him via skype or any communication address you have for him.
I have tried. The only oral communication possible is when another broker (the 4th) calls and wants to help me with placing trades since I haven't been trading for a while. In one case I told him that there was no point in continuing placing trades since they won't let me access my money anyway. Then he offered to refund €250 (out of €2397) just so I could regain my trust in them(sic!) and continue trading. When I told him that the offer was unacceptable, he basically said it was the only offer he could/would give.

It's unbelievable. First, they steal the users money and then offer to refund 10% just show that they should be "trustworthy". I would rather trust a pimp selling used cars in some dodgy backyard than trust this criminal scam broker. This is the proof that they never intend to let people withdraw anything. Trading with binary options has been compared with gambling, and these companies have been compared to casinos, but in a casino you can at least stop playing and leave with your money, or what you have left. These criminals won't even let you do that. They refuse to let you have you own money back. It's stealing! And very organised. This is organised crime, and should be delt with accordingly.

This, the FPA, website is a very good place to start. Here, we can go together, form groups, plan and coordinate actions. There are several institutions we can contact:
UK action Fraud unit:
plus the national anti-fraud units.

in addition to the London based solicitors:
Selachii LLP Solicitors, London (
Healys LLP, London, ( som nå samarbeider med
Giambrone Law’s Londonkontor (
Healys LLP og Giambrone have recently joined forces: (

These scums must be stopped.
SBNor, post an update as soon as you hear back from your bank.
I have filed a chargeback to Mastercard by my issuing bank, but the possible processing time at Mastercard could be as long as 60 days. I'll keep you posted. I have , invited them to join this thread, but so far, to no avail. I have also filed a case against UKOptions in the Traders Court, but it seems that it is not been made public yet. I am working on a statement that I will send to the UK Action Fraud ( and the FBI IC3 unit. I've also made a SoMe-plan for posting scam alerts on other blogs, forums and Fb-pages. I'll beleaguer and pester them until they pay back what's legally mine. I will never let them of the hook!
SBNor, I hope you have got your money back.

Having recovered a rather substantial amount through the credit card / debit card repayment process I would certainly recommend going down that process.

Key things to note:
- Even if you go over the 60 / 90 /120 days (depending on card type) if you can prove that a complaint has been initiated with the company within the 60/90/120 day time period, in general the banks will honour your claim even though you may now be outside of your time period.
- You need to be able to show that they have not delivered "goods and services as expected" - e.g. a "secure facility" that they are then trading without your permission on. Otherwise show the marketing brochures and how they have deviated from these. (In my case, they had said they would close all positions every day according to their marketing materials. Next thing they had 90 day positions open and while I had open positions, refused to refund any money)
- Get as much of your communication as possible via email. Otherwise if they will not respond and you have a conversation with them make sure that you take copious notes about your conversation so that these notes can be used as evidence in your claim.
- Go and visit their offices in your country if you can. In my case, their offices were conveniently in the middle of a building site. I got a letter of evidence from the contractor on the building site stating that there was no possible way they were in any offices there as there was only a building site
- Etc.
I ended up with about 100 pages of evidence by following this process so the 3 banks I had to claim from all pretty much caved in and said "there is clearly a track record of intent to deceive and not deliver the services advertised"

- If your bank is unwilling to process the chargeback then threaten to take them to court. In the UK we have the financial services ombudsman who will rule on these types of things. Banks don't like going to the FOS for this type of complaint.

NOTE: Through the card process you need to claim EVERYTHING you have paid. A bit of a bonus if you have losses. I would say "Go for it"!