FPA Forums and Reviews Admin
XPMarkets and OptiMarkets
Deposit-Only Binary Brokers
Deposit-Only Binary Brokers
I wish more companies would resolve issues instead of scamming traders. I've got one more of these to write, and at least one more company is due for a Scam Finding very soon.
From everything I can tell, XP Markets and OptiMarkets are either 2 names for the same company or two companies sharing common staff and ownership. Their representative to the FPA posted from the same location that fake clients praised each company from. This happened in the reviews and in the forums.
It started with XP Markets. FPA member Daviden1 complained that a withdrawal wasn't being processed. XP delayed and delayed a withdrawal and wouldn't communicate with him, except when he pretended to be a potential new client planning to make a large deposit.
Next, complaints came in about OptiMarkets. FPA members Yulitacs, Biff22, and Tonidare all reported issues getting withdrawals. A representative from OptiProfits.com came in to represent the company in the thread Yulitacs started and did nothing but delay things. When Yulitacs' Traders Court case went public, a fake client posted from the same location claiming that Opti Markets never gave any problems on withdrawals. I can only assume this means the company believes lying about successful withdrawals is better than sending real money to real clients.
The case against XP Markets ended in a Guilty verdict. All 3 Traders Court cases against Opti Markets ended in Guilty verdicts. None of the 4 clients ever got their money withdrawn.
OptiProfits.com is still online. They claim to now represent CityBinary.com. I am please to see that XPMarkets.com, OptiMarkets.com, and CityBinary.com are all down. I believe that the warnings provided by FPA reviewers and forums members about bad experiences helped keep many potential victims of this scam from depositing money at these websites.
I'd like to express my deepest thanks to Yulitacs for going above and beyond the usual efforts in reporting XPMarkets and OptiMarkets to different government agencies. If more people filed these reports, it would be easier for the police and regulators to have the evidence needed to shut down scam sites like these.
The FPA considers XPMarkets, OptiMarkets, and all related companies and websites to be scams. If you become aware of any evidence showing other companies are related to these, please post the details in this thread.
The FPA recommends that US victims contact the CFTC and UK victims contact Action Fraud. Victims from anywhere can file reports with eConsumer.gov
FPA Scam Finding Against XPMarkets and OptiMarkets
Daviden1's original complaint against XPMarkets.com
Daviden1's Traders Court case against XPMarkets
Yulitacs' original complaint against OptiMarkets.com
Yulitacs' Traders Court case against OptiMarkets
Biff22's original complaint against OptiMarkets.com
Biff's Traders Court case against OptiMarkets
Tonidare's original complaint against OptiMarkets.com
Tonidare's Traders Court case against OptiMarkets
FPA Review Page for XP Markets
FPA Review Page for Opti Markets