VipOptions

Stevie B

Recruit
Messages
2
Well I fell for it. It started in late December 2015 with the Canuck Method an offshoot of the Aussie Method indicating a trading robot that would make small trades with an 80% efficiency, so I entered my info and it sent me to VipOptions.com, the broker who would handle the funds the robot traded. It also sent to to 5 or 6 other brokers every time I logged on.
I set up my initial trading acct at VipOptions with $250 USD and was quickly contacted by Tom E. a senior broker at the firm who convinced me the human factor was much better than a Robot and if I increased my initial deposit to $1000.00 USD he would show me what a VIP acct. could do. He indicated he would make the trades for this acct and would prove it over a month. He also indicated the company would guarantee the initial deposit for the first 30 days trial. He indicated I did not need to send in any compliance documentation at that time but could wait till I was ready to withdraw funds. (First Red Flag I should have seen) I watched the acct. and it grew in little bits, 29 dollars one day 50 dollars another day until it was just over $1700 USD after about 3 weeks and then the trading stopped (Wow a 70 % return, i'm impressed). I was not able to see which trades were being made or how many trades it took to make these profits. (2nd Red Flag)

After the 30 days were up he again contacted me indicating I would need to bring the initial deposit up to 5000 USD to maintain the VIP acct. and continue to have him trading for me. At this level I would be charged a 30 % commission on the increased value of the acct. monthly or on the amount of funds I withdrew from the acct. I didn't have the extra $4000 at the time as I was waiting for a property sale to finalize and told him this. He indicated to call him when I was ready to increase my investment. I continued trading on the platform with these funds and managed to get it over $3000.00 before some losing trades took it back down to $1700. In late February he contacted me indicating he was being promoted in the company and would only be looking after accts with balances over 25000 USD and he wanted to close my acct but the company only did withdrawals $5000 or greater and asked that I bring the acct up to that level so he could close it (3rd Red Flag). I again indicated I did not have the funds to do this and he indicated he would see what he could do and sent me the compliance documents which I completed and sent back. In the Email with the documents I asked why my acct needed to be closed but got no response from the compliance department.

While waiting for the Compliance department to contact me back I continued to log in and watch some of the action but did not enter any other trades nor did I authorize any other trades on the acct. On the 22nd of March when I tried to Log in I was told my password user name was wrong. (It was set up in my Google Chrome so was never changed). I wrote an email to Tom and to the Support@VipOtions .com and got no response. When I used the forgot password prompt the next day I was told that there was no acct with that name. In doing other research on other sites I have read that this "password wrong or changed" then no acct is a typical ploy made by binary companies after they have taken all they can from a "client".
I am hoping that this info informs others or that others will read and share their stories about this company. I am still hoping I am wrong and haven't been scammed.
VipOptions indicates it is a company under Techfin options ltd registration number: 115893 31 Barrack Road, second Floor , Belize City, Belize
VipOptions uses the address of: Maria house, 1 Avlonos street, 1075 Nicosia, Cyprus as Cyprus has high regulation of Binary option Brokers
In the initial Email sent to me by Tom this statement appeared at the bottom of the Email.
VipOptions™ is a trading name of CST Financial Services Ltd, regulated by the International Financial Services Commission (“IFSC”), under authorization number IFSC/60/377/TS/15.
You can check us out on http://www.ifsc.gov.bz/licensed-service-providers/list-f/ this link take you to a listing of "regulated" companies in Belize which I looked at before investing, looking at it further i see that CST financail shares it's address and phone # with more than 8 other Binary investment companies as do many other companies on this list of regulated companies.(REALLY BIG RED FLAG THAT I MISSED)
 

Pharaoh

Colonel
Messages
19,919
You missed another red flag. Binary companies are like online casinos. They have no external source of liquidity. ALL trades are handled in-house.

If a casino employee offered to help customers win big (and really did it), the casino would have to fire him or else go out of business.

How did you deposit? If credit card, get in touch with the fraud department at your issuing bank right away. Explain that the service of withdrawals is not being given and that you would like to do a chargeback.
 

Stevie B

Recruit
Messages
2
Well I fell for it. It started in late December 2015 with the Canuck Method an offshoot of the Aussie Method indicating a trading robot that would make small trades with an 80% efficiency, so I entered my info and it sent me to VipOptions.com, the broker who would handle the funds the robot traded. It also sent to to 5 or 6 other brokers every time I logged on.
I set up my initial trading acct at VipOptions with $250 USD and was quickly contacted by Tom E. a senior broker at the firm who convinced me the human factor was much better than a Robot and if I increased my initial deposit to $1000.00 USD he would show me what a VIP acct. could do. He indicated he would make the trades for this acct and would prove it over a month. He also indicated the company would guarantee the initial deposit for the first 30 days trial. He indicated I did not need to send in any compliance documentation at that time but could wait till I was ready to withdraw funds. (First Red Flag I should have seen) I watched the acct. and it grew in little bits, 29 dollars one day 50 dollars another day until it was just over $1700 USD after about 3 weeks and then the trading stopped (Wow a 70 % return, i'm impressed). I was not able to see which trades were being made or how many trades it took to make these profits. (2nd Red Flag)

After the 30 days were up he again contacted me indicating I would need to bring the initial deposit up to 5000 USD to maintain the VIP acct. and continue to have him trading for me. At this level I would be charged a 30 % commission on the increased value of the acct. monthly or on the amount of funds I withdrew from the acct. I didn't have the extra $4000 at the time as I was waiting for a property sale to finalize and told him this. He indicated to call him when I was ready to increase my investment. I continued trading on the platform with these funds and managed to get it over $3000.00 before some losing trades took it back down to $1700. In late February he contacted me indicating he was being promoted in the company and would only be looking after accts with balances over 25000 USD and he wanted to close my acct but the company only did withdrawals $5000 or greater and asked that I bring the acct up to that level so he could close it (3rd Red Flag). I again indicated I did not have the funds to do this and he indicated he would see what he could do and sent me the compliance documents which I completed and sent back. In the Email with the documents I asked why my acct needed to be closed but got no response from the compliance department.

While waiting for the Compliance department to contact me back I continued to log in and watch some of the action but did not enter any other trades nor did I authorize any other trades on the acct. On the 22nd of March when I tried to Log in I was told my password user name was wrong. (It was set up in my Google Chrome so was never changed). I wrote an email to Tom and to the Support@VipOtions .com and got no response. When I used the forgot password prompt the next day I was told that there was no acct with that name. In doing other research on other sites I have read that this "password wrong or changed" then no acct is a typical ploy made by binary companies after they have taken all they can from a "client".
I am hoping that this info informs others or that others will read and share their stories about this company. I am still hoping I am wrong and haven't been scammed.
VipOptions indicates it is a company under Techfin options ltd registration number: 115893 31 Barrack Road, second Floor , Belize City, Belize
VipOptions uses the address of: Maria house, 1 Avlonos street, 1075 Nicosia, Cyprus as Cyprus has high regulation of Binary option Brokers
In the initial Email sent to me by Tom this statement appeared at the bottom of the Email.
VipOptions™ is a trading name of CST Financial Services Ltd, regulated by the International Financial Services Commission (“IFSC”), under authorization number IFSC/60/377/TS/15.
You can check us out on http://www.ifsc.gov.bz/licensed-service-providers/list-f/ this link take you to a listing of "regulated" companies in Belize which I looked at before investing, looking at it further i see that CST financail shares it's address and phone # with more than 8 other Binary investment companies as do many other companies on this list of regulated companies.(REALLY BIG RED FLAG THAT I MISSED)

I wrote to VTP Options support
To: Support Vipoptions; Billing Vipoptions
Subject: return my money

I had over $1700 USD on deposit when my acct and password no longer worked. I would like said funds returned before I begin legal action including the CRTC and Alberta securities commission. Please respond to this Email.
Stephen M. Booth
VIP Options wrote me back :
Dear Stephen Booth,
Upon reviewing your trading account we would like to outline the following:
First of all, we would like to point your attention, that Binary Options trading involves substantial risk and may result in loss of your invested capital. Moreover, we would also like to draw your attention to the Risk Disclosure Statement which is clearly displayed at the bottom of every page on our website.
According to the trading history of your account, there were trades placed, which were closed in the money as well as out of the money from day today.
According to your trading activity and decisions, the current account balance is 0 USD.
We do regret about your losses, but, being a trader, considering and understanding the risk involved in trading Binary Options, you were supposed to be the one taking the responsibility for your decisions.
Looking forward to your reply.
Best regards,
Back Office
 
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