www.goptions.com - Scamming And Unfair Practices

[ruseneca]

Dear FPA friends,

I would like to inform you for some unfair practices which GOptions.com apply in their way of making a business!
Here is an explanation of my case...

16 Sep, Monday​

I received the following email from a partner of GOptions.com

GOptions – 25$ Binary Options No Deposit Bonus, up to 100% Deposit Bonus + 4 X $250 RISK FREE TRADES!

Binary options are a type of FRI or Fixed Return Investment. Our company, with many years of trading behind it, has decided to provide this type of FRI as it provides the following advantages when traded at GOptions.com

1. No previous trading experience required

2. 25$ Binary Options No Deposit Bonus

3. up to 100% Deposit Bonus + 4 x 250$ Risk Free Trades!

4. Payouts as high as 85%

5. Get a part of your investment back in some cases of a loss (Insurance)

6. Tools for advanced traders

- Cancel Trade

- Automated trading (Signal Providers with SignalIndex)

- Close Trade Early (stop loss/take profit) or “Buy Me Out”

- Trader’s Choice: see what other traders are doing now

- Rollover your trade

- Options Builder: create any option you want

$25 Binary Options No Deposit Bonus – Terms & Conditions:

ONLY to our visitors – register a trading account at GOptions.com using
the banners from this article.

Contact GOptions.com via e-mail or live chat and activate your 25 USD
Bonus NO DEPOSIT – use bonus code: 25Free

Trade 40 times the value of the bonus and make at least a minimum real
deposit and you may withdraw your profit + deposit.

One FREE Bonus per customer / IP.

EXCLUDED COUNTRIES: Nigeria, Pakistan, Bangladesh.

IMPORTANT: Use your REAL Phone Number when you register at GOptions.com
Broker. ONLY customers with valid phone number & email will receive $25 No
Deposit Bonus. GOptions.com team will call you before to credit your
account!

GOptions’ trading platform is designed to provide a 100% secure and private investment experience, and to make financial trading as rewarding as possible for our customers, every time they trade.
The company is a UK registered company (Registered in England and Wales No. 08414643) with all the security certifications as required by law.

Of course, I decided to open an account and trade binary options with GOptions.com. I applied for the $25 no-deposit bonus.

Week 16 Sep - 20 Sep​

I received several cold calls from GOptions.com with their explanations of their promotions, insurance, 4 risk-free trades etc. In calls, I stated that I will make a deposit worth $200 between 24th and 26th Sep in order to withdraw my bonus+profits ( in case I complete all wagering rules ). They were very amazed because my $25 were turned to $100+. In a moment, the funds in my account were above $175. Wagering of the bonus was completed on Friday, 20 Sep! I also sent all documents for account verification. I received an email that the account has been successfully verified.

23 Sep, Monday​

I tried to log into my accont in order to place several more bets after the wagering has already been completed! I could not! The system has been saying "EmailNotExist". I contacted the Live Chat from where I understood that my wagering of $25 should have been completed within 1st 48 hours from the moment of the credit. I sent several more emails to support@goptions.com asking them what has happened with my bonus and my account and why it has been deleted!

26 Sep, Thursday​

I received several email from support@goptions.com, lee.more@goptions.com where it was claimed that the wagering must have been completed within 48h ( in one email ) or 24h ( in the last email ) and that I will not receive ANY funds from GOptions because I have not made any deposit. Here is a copy of one email...

Hi ******

You are now getting to verbal harassment territory so please calm down.

You had a free promotional bonus account that came with a time limit.

You did not complete the bonus conditions in time. You do not get the bonus money as a result.

No amount of harassing calls or emails will change that. So, either deposit and trade for real with us or simply move on and be happier elsewhere.

Apologies if the bonus terms of the free account were not explained further at the time. Please understand this will be the last reply to you regarding this matter.

Best,

Support

On 26 Sep 2013, at 11:32, <*****@yahoo.com> wrote:

> How many times should I send emails in order to receive an official answer why was my account deleted?!

From this email, it is clearly visible that if you are a winning trader, your account will be deleted. If you are a losing trader, then it's a party time for all cold callers! There are no terms, I underline, no terms for $25 no-deposit bonus where it is stated that the wagering should be completed within 24h or 48h. You are about to know this information when you complete the wagering. If you do it within 24h then I suspect that this information will be changed to 4 or 6 hours!!! Excuses, excuses, excuses...We are all tired of such practices, lack of terms or when such exist, they always "feel sorry" for not updating them and so on...

26 Sep, Thursday​

I requested 2 documents from GOptions which I will need to send to my Tax Authorities. These are:

1. Stamped or notarised declaration that my documents are completely destroyed and no information will be sold to other 3rd parties.
2. Stamped or notarised declaration that I have not received ANY funds from GOptions and no deposits have been made.

Later on, Lee More sent me the following:

Dear Sir,

You aren't going to get any notarized declaration of any kind seeing as how when you signed up originally on the site to get a free bonus which was used for the 24 hour period provided, you also agreed to our privacy policy. You are welcome to read through that if you wish. What you agreed to and what we are required to do, is all clearly stated there.

If I must accept the Privacy Policy, then they must accept their published Terms&Conditions! They didn't!

Here is a copy of their Bonus Policy:

12. GOptions Bonus Policy

GOptions offers a number of attractive reward features to its new and regular customers. Bonuses and one time trading credits rewarded to customers are part of GOptions's promotions program. These bonuses are limited time offers and the terms and conditions associated with any bonus rewards are subject to change.


In order to withdraw your full bonus, you will be required to execute a minimum trading volume of 40 times for every $1 bonus. The bonus can only be withdrawn when the preceding stipulation has been fully met and fulfilled.

The withdrawal of funds from an account can not be completed until the bonus conditions have been satisfied.

Any indication of fraud, manipulation, cash-back arbitrage, or other forms of deceitful or fraudulent activity based on the provision of the bonus will nullify the account and any and all profits or losses garnered.


Further to the above, it is agreed that as a precaution and due to the need for fraud protection, no withdrawal of any amount from the account will be allowed until the bonus volume requirement has been met if the bonus provided exceeded 25% of the deposited amount. This includes both the funds of the customer and the bonus provided. It is therefore the right of the company to refuse a withdrawal of customer funds IF said requirements have not been met. The company, can from time to time decide to allow a withdrawal, if it sees fit to do so, but is under no obligation to fulfill this request if the customer agrees to the terms and conditions of the bonus.

Failing to comply with your Terms&Conditions, published on your own website, is scamming and as such, it cannot be excused for ANY reason!

With this information published here, I hope that you won't make the mistake of giving your money to scammers who will take them and hide like mice. STAY AWAY from GOptions so that we cannot read more scam reports regarding this company!

Here, I attach 2 screenshots!
The first one represents all terms and conditions which came with the promotional email.
The second one represents terms and conditions for GOptions' bonus policy which is published in their official website.

 

[Master Yoda]

1. Binary Options is a a big pile of sh*t. It's a casino in an investing cover
2. If you deposited by credit card call the card issuer and file a charge back request- but then you will take back only your intial deposit without profits.
3. File a court case here in FPA- maybe it will get you back all your money

 

[ruseneca]

Dear friends,

As part of this case, I uploaded several prints of my correspondence between me and Goptions reps. I'd like everything to be clear. In case of a voting, these evidences will help you in the decision-making process.

Firstly, I attach a print of a Live chat session between me and Lily ( the operator ) held on 19 Sep 2013 ( Thursday ). Let me point that my account was opened on 16 Sep 2013 and credited with $25 no-deposit bonus same day. By the end of 19 Sep ( the date of Live chat session with Lily ) I have wagered my $25 no-deposit bonus at 95%. On 20 Sep, I wagered 100% of it and I continued to place bets.
View attachment 11413
This is a proof that noone has ever told me that the $25 no-deposit bonus comes with a period within I must wager it.

Secondly, I attach a print of a Live chat session between me and Jeniffer ( the operator ) held on 24 Sep 2013, the day after my account has been deleted.

View attachment 11414

This is the momen when I first noticed that my accoun has been deleted because my bonus must have been wagered within some time frame. Till now, there was no indication for such ( It is also visible in the Live chat session with Lily, several days AFTER crediting the bonus to my account ). I was already thinking of withdrawing the profits when I make my 1st deposit worth $200 ( minimum for opening an account ).

Lastly, I attach a print of our correspondence from 26 Sep 2013 when I submitted a message via their webform, asking them when I will receive an official answer from them regarding account's suspention.
View attachment 11415

From our correpondence, you can see that the bonus has come "with a time limit" which was neither published nor explained to me! It is a complete scam ( according to my opinion! ). It is also visible that I have sent several verification documents ( on 27 Sep ) which were approved within the business day. As they don't follow their published terms&conditions, I found it useful to have a notarised or stamped declaration that my documents are in safe and no sensitive data will be sold. When they don't follow their T&Cs, they could also disregard their Privacy Policy. Who knows?!
My second requested document was needed in order to present it to our Tax authorities, because on 20 Sep, after I wagered the bonus, I submitted a declaration in order to comply with our local tax laws. They refused to send to me such document and now, I must cover the taxes on the sum stated in the declaration which is the bonus I had in my account and I didn't receive.
It is visible that the time frame for bonus wagering is now 24 hours ( in the above attached email, it was stated to be 48 hours ). Which one is the correct one?!

My personal appeal to GOptions​

1.Reactivate my account with my wagered bonus in it and the whole history of transactions. I will make the minimum deposit worth $200 so that I can comly with their T&Cs and withdraw my deposit+wagered bonus and profits which I left to $87! ( might be even higher ).

2. In case of p.1 refusal, a notarised or stamped declarations with the requested texts so that I comply with Tax laws and null my submitted declaration.

End Notes​

GOptions claimed to follow their official Terms & Conditions. There, it is stated that the bonuses must be wagered 40x times for every $1. My bonus was $25 which means that my total bets must be over $1000. And they are! It was also stated in one of their emails published above! The company can change conditions over every promotion BUT according to law, the change does affect the future, not the past!!! Therefore, ANY statement in the email which I received must be accepted as a true statement and this email is a promotional offer for new acconts. Since it was stated that the bonus worth $25 and all profits are subjected to withdrawal provided that the total volume of bets is minimum $1000 ( 40x$25 ) and NOT stated that the wagering must be done within a specified time frame, GOptions cannot pretend for ANY time limits when the bonus is already wagered ( that must have been specified before the bonus has been credited ) and cannot ask for any excuses that the bonus terms were not published! Since the text of the email is an offer and I have accepted GOptions Terms & Conditions on account opening, I personally think that it is my right to receive the bonus+profits and an obligation for GOptions to pay that amount.
Every action outside this statement means that the contract between me and GOptions has been infringed!

 

[ruseneca]

An official invitation to the company has already been sent. Waiting for their statement.

 

[ruseneca]

Here's the text of the email which I received after I sent an email to GOptions regarding the FPA case and Scam Alert Folder...

Wishing you all the best in your endeavor to tarnish our name after failing to comply with the rules of the no deposit bonus. To reiterate, as I doubt you will publish this but nonetheless, the rules of the program were:

You get $25 as a NO DEPOSIT bonus (once again reminding you that to be swindled, you needed to actually deposit – which you did not)
You can use the account for 24 hours, thereafter, any gains or losses will be deleted.
If within the 24 hours you execute volume as per our bonus terms, seen in the terms of the site, then you can claim these funds as your own once a deposit of 200 is made. Thereafter, you can make a withdrawal of the profits if you so choose.
All other terms and conditions apply

This was all on the page you signed up on while the promotion was valid but you failed to look at it. So instead of casting stones, read what you sign up for and don't look a gift horse in the mouth. You received a freebie and are complaining about it – sorry to say, but it's bad form

I'd love to see you publish this – but we both know you will not

Regards

GOPTIONS SUPPORT

And this is the screenshot of the email...

 

[ruseneca]

As all can see, GOptions once again claimed to have published the bonus terms.

Firstly, let me point that for bonus redemption you need to contact the Support stating the promo code: 25free
This is in the offer I received in the email. There, noone is stated that within 24h the bonus must be wagered. Therefore, I can bet as long as I want.

Secondly, since my account was deleted, I cannot make a deposit. Even though I process it, I would like to receive my wagered bonus which in fact they refuse to credit back, stating that the bonus is not wagered within 24h. Later, I would like to withdraw deposit+all bonus, as stated in the offer! I bet they will not process the withdrawal!

Thirdly, I would like everything to be clear! I don't lie, I don't overstate. What I do is publishing the true, supported by screenshots. I've also uploaded a screenshot of the offer and they continue to claim that I have not complied with the terms.

Lastly, in email it is claimed that bonus+profits will be forfeited after 24h in case clients don't succeed in wagering. My account was deleted 1 week after it has been opened and bonus credited.

 

[goptions]

Refute all claims

Dear Sir,
I am not sure why you didn't mention that in our terms and conditions the rules clearly apply to this situation. So unless you are trying to scam us and defame us, this whole situation is a bit tawdry to say the least. For starters, the commenters and visitors herein are being led to believe that you made a deposit which you did not. You did not deposit a dime into your account

Furthermore, the terms of the no deposit bonus, while active, were clearly and admittedly by you yourself, not adhered to in any way. You didn't quote that part of the terms for obvious reasons. These terms, as mentioned in the mail, were in fact on the landing page you signed up on and again on the site.

See below
TERMS OF SITE

As such, I request this entire thread be removed as it is nothing more than a public yet baseless smearing of our company.

20. Promotions

GOptions, from time to time, will have ongoing promotions advertised both on and off the site. It is understood as fact that any promotion resulting in a rebate, cash-back or other return of funds into the account as cash will be as a percent of the deposit value.

If GOptions provides a customer a promotion whereby the client is provided a percentage of losses once per month returned ("10% safety net" promotion). The calculation for this promotion is only on the invested capital and as such does not include bonus funds. The promotion will be based on a max payout of 10% of the invested capital lost only.

From time to time, GOptions may provide a trader with improved conditions of trading including but not limited a higher payout on options that are deemed in the money or winners (ITM). It is agreed that any payout to this end and for this promotion in any given month shall never and under no circumstance, regardless of volume amounts of ITM trades, be a payout of cash greater than the improved payout % provided to the trader multiplied by the capital invested at the outset of said month. If then volume on the asset provided for with a greater payout % surpasses the capital (excluding any bonus) then the calculation with be based on the the lower of the two and as such the deposit amount will be the cap.

All non-deposit bonuses are valid for 24 hours unless otherwise stipulated.

Terms and conditions for such promotions are provided separately and unless otherwise noted, the time frame provided above, once reached, will render the account null and void including profits or losses. If however, the bonus terms, as listed above, are met, then the account will remain active assuming the time frame of the account has not been reached. At this point, to retain access of the account, the bonus account will need to be converted into a live account. To do so, the customer will need to make a minimum deposit. Withdrawals, according to the terms herein, will be in practice and effect.

 

[goptions]

This will be my last response to this absurd claim
1. I don't know who "emailed" you with this offer. It wasn't mailed by us. That I can guarantee as we don't provide any such offers via mail. It is strictly through the landing pages we ourselves host and provide terms for on the page. We dont engage in email spams. If it is found that an affiliate of ours engaged in such actions, they will be taken care of accordingly. This still has no bearing on the issue at hand, as the terms of the site still apply

2. Your account was deleted, as you admit, after the initial 24 hours. This is correct and is part of the terms of the promotion. Mind you, this is a promotion - not a giveaway. The purpose of which is to get you 1. in understanding of the product, 2. familiar with the platform, 3. and ready to go with a real live account. Withdrawing profits from this no deposit bonus account is certainly possible and many thousands of dollars were sent to customers who adhered to the very simple terms (they profited within 24 hours, they finished the trading volume required, they verified the account as required, and they requested the withdrawals - all within 24 hour). You did not do any of these within 24 hours. As such, your account of $40 was voided. Yes, to all the readers here - we are talking about about $40

3. We didn't call you a liar.

4. When we decide to physically render the account null and void is not the issue here and of no consequence

Again - I ask this thread be removed. This is not an issue that can be "resolved" as it is a clear case of blackmailing a brokerage that did nothing at all wrong. The customer is more than welcome to trade with us. More than welcome to adhere to the policies listed clearly on the T&Cs of the site. Nothing was hidden.

 

[ruseneca]

You did not do any of these within 24 hours. As such, your account of $40 was voided. Yes, to all the readers here - we are talking about $40

Of course, we don't believe you 'cause there is no proof about that. You simply wrote something and didn't provide any proof. I left almost $90 in my account balance. It as Friday, 4 days AFTER my bonus has already been credited. You claimed that all winnings are forfeited after 24h. I was betting for a whole week and every time you've calling me, you were speaking about your promotions and NOTHING about a term like "bonus has time limit - 24 hours to wager".
WHY?! I understood that 8 days later, AFTER I have already wagered the bonus.

I have sent you my verification documents in order to verify...WHAT?! What did I verify? My account with almost $90 bonus in it?! As I am not going to receive any withdrawals, why should I verify an account which had to be forfeited 5 days ago, 24 hours after bonus had already been credited ?!

I look forward to see more evidence from you, not just words, but clear evidence, as I have provided such, supporting my own words.

 

[Pharaoh]

Do you have access to a statement showing the full history of the account?