Why You Should Stay Away from Option500 (as well as binary options itself)

[CKH22]

Carl Ericsson called my mother’s cellphone on August 26, 2016 and hooked us in by saying a bunch of stories about how “Pokémon Go” would make Google’s stocks go up and we need to get inside as soon as possible. He made my mother deposit around $5000 USD first and promised a $15,000 bonus to our account. He did not give my mother and I full details of how everything worked. After our account was up to roughly $30,000, he started making trades and kept promising that the credit cards will be paid off “next week”. My mother and I liked him very much at that time because he told us that he could relate to being raised by a single mother (our situation), which made him very relatable for my mother. However, once the credit card companies started chasing my mother’s debt and Carl started losing trades, our relationship soured. I started to get nervous because every time we COULD HAVE taken out money, he convinces us that it was “bad for the trades” and would put the money back and lose most of the times. He convinced us that the only way for us to get the money back was to BRING IN another friend, more clients for him and he would give us the commission. My mother unfortunately put her friend and Carl in contact and deposited the same amount of money that we did. Right now she is also very suspicious of Carl Ericsson because at one point Carl tried to make her deposit $40,000 USD, which was a little frightening. My mother had some very emotional phone calls with Carl because she was in debt from the Option500 deposits and shouted at Carl to return our money. Carl finally admitted that with the bonus system, we couldn’t take out money until our account was at a certain amount (he said $70,000). Our account at that time was at less than $15,000 and we basically lost our entire deposit at this stage. My mother screamed at Carl to stop calling us and he did. But he still emailed me and there was this one Apple trade that could have brought our account to $22,000 and give our account roughly $7000 that we could withdraw. Carl AGAIN tried to coax me into trading that money and I got scared. I frantically emailed him 3 times urging him to STOP touching our account. Within an hour our account went from $14,000 to $1700. Even if we won the Apple trade we wouldn’t be able to withdraw any money because it was UNDER the bonus amount of $15,000. That was when I spent 2 hours straight digging up whatever I could find about Option500 and Carl. I was shocked till I was shaking when I stumbled upon the Forex Peace Army and saw the words option500 and Carl Ericsson. I did not dare tell my mother but eventually I did and we called the Hong Kong Police but did not move on with that because I found the FPA hoping you could help

 

[f-man]

Unfortunately there is nothing positive to say about this broker. There are many warnings by official authorities like:
http://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=036104b6-3d72-44e4-bc69-fec66975f31a
http://www.fsma.be/en/Site/Repository/press/warnfsma/2016/2016-04-18_option500.aspx
Except from all the relevant sites, also on the scamadviser page you can find negative reviews about them:
http://www.scamadviser.com/check-website/option500.com

The good news is that you might have a chance to get your money back through chargeback services like:
https://www.forexpeacearmy.com/comm...ny-we-can-help-you-get-your-money-back.44561/

 

[Pharaoh]

Go ahead and send the people at Option500 a link to this thread. Invite them to come here and explain themselves.

 

[vethan]

send your complaints to the following entities

1. http://www.actionfraud.police.uk/
2. www.cysec.gov.cy
3. public@isa.gov.il
4. mitchellj@dominica.gov.dm, office@OID.dm, info@oid.dm
5. finansinspektionen@fi.se
6. http://www.fsma.be/en/Doormat/Contact/Contactformulier.aspx

Atleast other innocents from various countries would be get altered with this.

Carl Ericsson called my mother’s cellphone on August 26, 2016 and hooked us in by saying a bunch of stories about how “Pokémon Go” would make Google’s stocks go up and we need to get inside as soon as possible. He made my mother deposit around $5000 USD first and promised a $15,000 bonus to our account. He did not give my mother and I full details of how everything worked. After our account was up to roughly $30,000, he started making trades and kept promising that the credit cards will be paid off “next week”. My mother and I liked him very much at that time because he told us that he could relate to being raised by a single mother (our situation), which made him very relatable for my mother. However, once the credit card companies started chasing my mother’s debt and Carl started losing trades, our relationship soured. I started to get nervous because every time we COULD HAVE taken out money, he convinces us that it was “bad for the trades” and would put the money back and lose most of the times. He convinced us that the only way for us to get the money back was to BRING IN another friend, more clients for him and he would give us the commission. My mother unfortunately put her friend and Carl in contact and deposited the same amount of money that we did. Right now she is also very suspicious of Carl Ericsson because at one point Carl tried to make her deposit $40,000 USD, which was a little frightening. My mother had some very emotional phone calls with Carl because she was in debt from the Option500 deposits and shouted at Carl to return our money. Carl finally admitted that with the bonus system, we couldn’t take out money until our account was at a certain amount (he said $70,000). Our account at that time was at less than $15,000 and we basically lost our entire deposit at this stage. My mother screamed at Carl to stop calling us and he did. But he still emailed me and there was this one Apple trade that could have brought our account to $22,000 and give our account roughly $7000 that we could withdraw. Carl AGAIN tried to coax me into trading that money and I got scared. I frantically emailed him 3 times urging him to STOP touching our account. Within an hour our account went from $14,000 to $1700. Even if we won the Apple trade we wouldn’t be able to withdraw any money because it was UNDER the bonus amount of $15,000. That was when I spent 2 hours straight digging up whatever I could find about Option500 and Carl. I was shocked till I was shaking when I stumbled upon the Forex Peace Army and saw the words option500 and Carl Ericsson. I did not dare tell my mother but eventually I did and we called the Hong Kong Police but did not move on with that because I found the FPA hoping you could help

 

[vethan]

also register your complaint to https://www.econsumer.gov/en/Home/FileAComplaint/1#crnt