Unable to withdraw from optionrally

Dieketseng

Recruit
Messages
11
Hi everyone

I'm unable to withdraw from optionrally even though I have sufficient funds in my account,I have sent an email to financial ombudsman Cyprus,IFSC Belize and MAS( monetary authority of Singapore).

I joined optionrally on the 03-12-2015 after seeing an advertisement, I was welcomed by Dani Bennet my initial deposit was R2000 and I received a bonus of R2000 which I was told it was meant to minimize the risk and protect my account,I was then given George fox as my account manager and he told ne to watch video tutorials and open 2 trades on my own to help me understand the platform and get over my nerves,I lost those trades as I was still practicing and I deposited another R2000 but there was no bonus for that R2000,George then called me telling me there was a huge investment spot opening to trade starwars and I needed R50000 to reserve my spot and I will get huge profits from that,I told him I didn't have that amount so he told me to get R25000 and he will also give me another R25000,at this point I was still not clear on how the bonus worked I asked George if I could withdraw the profits at the end of the week if I deposited as the money I had was for something else,and he assured me that I could withdraw anytime and I then deposited the R25000 and received another bonus of R25000. We didn't trade on disney because George had another great opportunity,we opened trades on various commodities and forex and they won.

I then tried to withdraw R10 000 as I had enough funds on my account but it was declined due to insufficient funds and I didn't understand that I contacted customer support and I was told I needed to reach my trade turnover and that's when they explained how the bonus works,I asked George about this and he assured me that we were doing well and all our open trades were winning too so I must just wait a month and we can actually withdraw in January and he said he can allow me a small withdrawal amount of R3000 just to test the system and to put me at ease,I received the R 3000 and continued to open new positions on my account but now things changed the majority of those trades were losing.

Mid January I then put another R10000 withdrawal but George convinced me to cancel it so we can open trades and generate more profit but that wasn't happening we were losing,by now the account was down to R25000 and I don't know what happened to George because when I requested for my manager to call me I got a new guy by the name of Roy jones.

He started by asking me what happened to the account because it was doing so well,he told me he doesn't know how George and I worked but he was going to rebuild my account,I was relieved and trusted him but he didn't waste time he asked me to deposit so we can generate more profits I told him George had tried to get me to deposit more money but I didn't have it that's why I kept trying to withdraw I was in desperate need of money,he said we can work with what we have but we lost trades and the account ended up down to R13000,He then called again in an attempt to get me to deposit and when I told him I had no funds,he tried to get a loan for me from mastercard and when that wasn't succesfully and as he realised I had no intentions of depositing again,je told me to contact him when i'm ready to make money and that was the last I heard from him around late february to beggining of march.

I was in despair the account was down I had even lost a portion of their bonus and no one from optionrally contacted me with a solution,I needed money my job wasn't doing so well and my mom was in hospital the bills were piling up,I then decided to trade on my own what did I have to lose now? Slowly I worked on the account until it was up to R27000.

I was happy a ray of hope I now had their bonus I can work from there and make my money back,then I got a call from optionrally from Benjamin Eden a senior broker,he told me my account was doing so well 48% success rate and as I can see i'm not getting a call from my account manager but from him the senior broker because he reserved me a VIP spot on netftlix,he told me I needed to deposit more money to get the spot I told him no and he said it's fine we can work with what we have,he asked me to open my platforn and trade I told him I was busy at work and I didn't bring my laptop he then said it's ok he can open trades for me,I told him no I don't want to trade on netflix I will trade my way until my balance is up,he still suggested I take trades for R25000 in that day and that didn't sit well with me because I had R27000 balance I didn't take the trades I just monitored the trades that he wanted me to trade and they lost,I was glad I didn't trade,but he didn't stop for the following days he kept trying to get me to trade but I didn't and he stopped calling.

I worked on the account until my now balance of R49705.33 and on the platform it showed I can withdraw R22705.33 so I went and put in my withdrawal request on the 31-05-2016,Benjamin called me on the 02-06-2016 after I sent numerous requests to customer support to have him approve my withdrawal,he didn't say anything about the withdrawal he wanted me to open trades for that day and end of the week to the value of R35000,I told him I couldn't because that will affect my withdrawal he kept promising he will approve but first I must go to the platform and open thise trades I then told him I had no intentions of trading again I just wanted my money back and he said that will mean i'm closing my account on a loss,I told him I was fine with that he then agreed to release funds on that day,but that didn't happen I contacted customer support a number of times everyday trying to get answers but it was always the same response I must wait for someone from their finance department to contact me that didn't happen until today.

This morning I contacted support again they told me to wait for my manager to call me so he can obtain verbal confirmation,I don't know which confirmation because I had already given one,I was surprided midday when I checked my platform for any progress on my withdrawal it was cancelled,and the reason said "cancelled on account manager's request" I don't understand why would my manager cancel my withdrawal without getting my consent especiallt after I had given the go ahed to close my account and release my funds,what authority/power does he have on my funds. I contacted support asking them where can I report this and they told me to wait for my manager to call me,the same man who cancelled my withdrawal,I went to the platform and opened a new request,waiting for the outcome.

Please if there's anymore suggestions on how to handle this matter I will appreciate them.
 

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Dieketseng

Recruit
Messages
11
Thank you very much I will do that, I sent Optionrally support an email and contacted their call centre this morning,I will wait and see if they will call as promised it's been the same response and no action since last week.
 

Pharaoh

Colonel
Messages
20,013
Have a chat with the fraud department at your credit card's ussuing bank. Explain the broker refuses to provide the promised service of withdrawals. Ask if a chargeback is still possible for fraud.

Do NOT delay. There are deadlines. If you aren't past the deadline already, you may only be a day or two away from it.
 

Dieketseng

Recruit
Messages
11
Have a chat with the fraud department at your credit card's ussuing bank. Explain the broker refuses to provide the promised service of withdrawals. Ask if a chargeback is still possible for fraud.

Do NOT delay. There are deadlines. If you aren't past the deadline already, you may only be a day or two away from it.
I spoke to the bank,fraud department transferred me to credit card department and they told me for third party transactions there's nothing they can do if the transfer has gone through already,I can just log a case but they can't charge the funds back.

What else can I do now because my 6 month deadline is tomorrow?
 

Dieketseng

Recruit
Messages
11
Hi everyone

I tried Optionrally customer support today and I got the same response,wait for someone from finance or my manager to contact me and nothing happens,when I question that i'm told to wait for 24 hours.

It's been the same thing since last week,24 hours lapses and I have to start a new waiting period.
 

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oscarra

2nd Lieutenant
Messages
1,238
NEVER WAIT

Try much more pressure on your Bank, forward them those press articles, explain, the company
is an worldwide scam, how come they been entitled to a merchant account, and who is the merchant account provider firm involved…….as usual that’s the information they hate to provide.

In fact any bank working with criminals, can easily face court ….no time limit on that.

Also prepare a fat complaint file for the Israeli financial Ombudsman !
 

Dieketseng

Recruit
Messages
11
NEVER WAIT

Try much more pressure on your Bank, forward them those press articles, explain, the company
is an worldwide scam, how come they been entitled to a merchant account, and who is the merchant account provider firm involved…….as usual that’s the information they hate to provide.

In fact any bank working with criminals, can easily face court ….no time limit on that.

Also prepare a fat complaint file for the Israeli financial Ombudsman !

Thank you this is very helpful,I will go again tomorrow and I will be able to ask the right questions,today I was just shot down and they made me feel like it's all my fault.
 

Dieketseng

Recruit
Messages
11
Hi everyone

I went to the bank again today,I asked all the right questions but I didn't get answers,they also couldn't find the merchant name,on my bank statement it just says overseas payment-optionrally and that's all they could show me.The consultant searched for optionrally and the search came up with lots of scam alerts but that didn't warrant any investigating on their part.

My hope now is the international ombudsman and regulators.In the meantime it is still the same response from optionrally consultants.
 

oscarra

2nd Lieutenant
Messages
1,238
Your country regulator certainly provides some financial meditation (free consumer services, talk to them, your bank not even wanting to investigate.
Do make sure this scam firm get's Blacklisted.
 
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