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BeeOptions.com (Greymountain) Review Visit site

Updated: Sep 21, 2018
SCAM
1.072 · 13 REVIEWS
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SCAM CONFIRMATION

Bee Options is part of the Greymountain Management group of binary and forex companies.  This group has a large number of FPA Traders Court verdicts against it.  The FPA considers all brokers which are part of this group to be scams and warns all traders to avoid depositing money with them.

SCAM CONFIRMATION

BeeOptions is on ASIC's list of companies that could be involved in scam.  CLICK HERE to verify.

There is an FPA Traders Court guilty verdict against BeeOptions.  Unless this issue can be resolved, the FPA recommends caution dealing with this company.


Website is down. Company seems to be out of business.
BeeOptions.com (Greymountain)

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
2014-0612014-03-21tomjersey vs beeoptions.comguilty

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Scam!
1.072 · 13 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Jaymz10954,
USA,
Oct 3, 2017,
Registered user

One morning they were just GONE! I still had money in my account too. Complete sham. Would not recommend them unless you like to just give money away to crooks.
Mohamed Nejib Gorgi,
Brisbane, Australia,
Sep 11, 2015,
Guest

After six months of trading with them, I have discovered a lot of fraudulent practices, samples of which are the following:

– Manipulation of asset expiry rates to cause the loss of the trader. That is done by causing discrepancy between the trading platform and the trade table results.

– Continuous extraction of money or what might be labelled “money sucking”: In the name of investment, Beeoptions continues to exert a lot of pressure on me to deposit more and more unjustifiable money. I once surrendered to their pressure and deposited $5000, but this was not enough as it seems to be a general policy to extract more money from clients.
I keep resisting depositing more money and now they suggest a 20 (later raised to 30%) off my requested turnover if I deposit another $5000. I still refused because I know this is only a form of disguised theft.

– Deception through provision of opposite advice to what their senior trade analysts are supposed to deliver as information to traders. To give you just an example, I was focusing my trades on oil whose price kept going down and I was playing on that. Their Head Analyst Jonathan Taylor suggested that I invest $10,000 betting on oil prices to go sharply up by the end of this month which I knew was a lie and a trick to make me lose that huge amount of money, so of course I didn’t follow his advice. And as you can imagine, oil prices kept their decline.

Beeoptions will do every effort to make you lose money and in case you still manage to make profits, they will not allow you to make withdrawals, so please avoid them.
Greg Konoplisky,
Illinois, USA,
Aug 22, 2015,
Guest

Hi,

We are marketers and list builders.

We are reviewing 9 binary companies, software, strategies, groups..etc

Beeoptions, was our 1st to fund.

We funded $1000.

After that, we were called by the company and talked into funding up more money, with promises of help.

They never told us about the bonus traps.

They say we have to cover a $30,000, bonus trap volume, in order to withdrawal any of our money.

We have enough documentation to sue and plan to.

If anyone else got scammed by Beeoptions, you can join our International class action lawsuit.

The broker there, also, said that, there was risk free insured trades 2 times, that the company never did, however, put us in a deeper bonus trap.

I would like to post a copy here, of what one of the other brokers e-mailed us back, with promises of the company making things right.

Quite the opposite happened.

Many people there, told us different stories and lies.

There are many other things that they do, to scam you.

Too many to list here, however, see the copy of the e-mail that was sent to me below and do not use this company !!!
Copy:
Greg,

1) In regards to the Eur/Usd and Sugar trades - very bad trades. I'm not sure what his "strategy" was.

2) This withdrawal of a bonus of $4,000.00 is a mistake, makes no sense based on my record of transactions.

3) I listened to Patricks conversations with you. I cannot find any records of said trade, or what your deposit was directly intended for. Patrick no longer works here for such reasons.

I will be available in about an hour to speak, maybe we can talk and discuss what you'd like to do. The firm is of course prepared to make things right in your account.
Person that's really annoyed!,
Orange County, USA,
Jul 28, 2015,
Guest

Hi, so I deposited 5,250 dollars and the person with whom I spoke to promised me my money would be safe. The months pass by and everything is fine. As soon as I tell them that I want to withdrawl my money my calls, emails, and messages are being ignored. I'm strongly considering a law suit. If you have been promised that you weren't going to lose your money and a bunch of other dandy things I would really appreciate it if you could help me build a case. I invested all my savings because I'm an idiot. If you'd like to help me and have been stuck in a nasty situation like this one please write a comment and we can somehow get in contact. I desperately need this money and it's horrible how people will scam others.
Dun Q Tran,
Melbourne , Australia,
May 2, 2015,
Guest

Please stay away from Beeoptions . Their business is to steal their client money . See my new thread
philmc,
UK, United Kingdom,
Apr 27, 2015,
Guest

Avoid this company like the plague. I deposited £250.00 and lost 32% of the fund when I withdrew my money after multiple fees were levied on it because I decided not to start trading with them due to bad reviews on this site. It took 3 months to get my money back as company employees repeatedly lost or asked for the same information as a previous person had already. One employee told me that the delay was because each withdrawal request is printed out then walked around the building and put into someone's in tray where it sits for up to 6 days until the Monday afternoon meeting where they decide who (if anyone) will get a withdrawal that week. It's like the internet never happened for this lot. They are a waste of web space.
Chris S.,
NC, USA,
Nov 13, 2014,
Guest

They are a terrible broker... I deposited $500 after seeing several postings on youtube about them before I found out about this site.

Well I was called in about 10 minutes after signing up. My rep tried to discourage me from doing 60 second trades... calling them "cr**"... and tried to entice me to put in more money than I planned. I told them I was only interested in putting in $500 and they told me that I didn't qualify for a bonus under $1000.
~Alert 1~
After having him go to the homepage, he told me this was a new promotion he wasn't aware of... Then I made the deposit... He called me again and said he could show me how to make some real money if I was really serious. I assured him I was serious and asked him what did I need to do... He said I needed to put about $25k in my account and he could show me how to make some real money then.... even tell me what trades to make....
~Alert 2~
This should have been enough to make me run away but it didn't... I was memorized by the $$$$... lol... So I started trading... and I took my initial $500 down to $250 in 4 days... thanks to a bogus strategy I found on youtube... lol... anyway I contacted my agent because my bonus was credited yet. He went over my account and said that the finance folks would consider it a waste of money to give me my bonus since I had lost half my money in such a short period...
~Alert 3~ This woke me up finally!!! I told him he was crazy if thought I was putting another dime in my account before they gave me what was promised to me... since its called a "deposit" bonus... it should be credited when funds are deposited... So he eventually had them put the funds in my account... they showed up the next day... Since then I've just used this platform to practice strategies with. I've signed up with another broker to do my real trading with... They actually gave me a demo account to get acclimated with their system. I'll post a review of their site once I have more experience with them. But this review is on beeoptions... So more about my bad experience with them.
Platform issues:
1. I get logged out of their site constantly... sometimes in the middle of making of trade... very inconvenient...
2. As someone else said... Placing an order has serious delays. When you place the order, it gives a price and asks for approval, after clicking approval... Sometimes (not all) I notice that the initial price has changed from the initial price it showed when I initiated the order. If it's a call... it's higher... if it's a put... its lower.
When the trade expires, its goes into a validation mode... I've seen this go from 2 to 10 seconds... all the while the price is changing and as someone has said, you will get the worst price available. When I asked my account manager about it, he said the price may fluctuate a few pips due to a timing delay with the site if there is heavy trading traffic.... Sounds good right? Well, I haven't seen this behavior once at the new broker. hmmmmm
3. This just happened today... I kept getting a sever timeout error when trying to put in trades... This caused me to miss 4 trades that would have expired in the money. Then I switched to a different browser thinking that might be it.... When I went there, I got a "suspended" error... I sent 3 emails to tech support and have heard nothing yet. The straw that made finally quit today was after lunch I went to check to see if the platform was working any better... and they had blocked all the 60 second trades... you could do high/low long term and one touch but no 60 seconds.... but I placed 3 trades in my new platform... an hour later when I checked beeoptions again, the 60 second options were back... I emailed my account manager this time since I didn't hear back from tech support and asked if something was going on with the platform today and if I should suspend trading. He replied that he didn't know what I was referring to and it had been working fine for him all day.

So if you didn't know it yet... Stay away from beeoptions.com!!!!
Robert S.,
San Diego, USA,
Aug 1, 2014,
Guest

I deposited a total of 30K, took a 25k bones. I was treated very good at the begging,
however they started asking me to deposit additional funds. when i said no, all things changed. I was no longer being treated as well. Actually they stopped talking to me. Now I admit I am new to trading and made mistakes, however i do not think this company stood by what they have listed on their web site things listed on their site. That by itself tells me this company is not ethical. I also noticed that the trading system has delays as one of the reviewers mentioned in that i would not get the going rate that I purchased. I am unable to make withdraws since I am tied to a bones requirement. Chances are I will never get it back.
Kris Koster,
London, United Kingdom,
Jun 21, 2014,
Guest

Beeoptions are a very poor broker and I do not recommend them. Save your time, effort and money and go with a decent broker platform that plays fair like Stockpair.

I'm a professional binary options trader and have been in this business for over two years. In that two years, I have tried over a dozen broker platforms. Definitely some are better than others. Beeoptions uses a Spot 'back end' to do their risk management for them and provide market price on execution and so fourth.

What is wrong with this? Well, let me tell you that a number of the 'less well-funded' broker platforms use Spot and their front-end is 'white label', meaning, you can set up your own brand on the front-end using Spot as your 'engine' back-end, if you like. Spot is fraught with problems and provides a very unfair price point on 'strike' - (ie. when you execute a trade, it will give you the worst price possible to the direction you chose)... This is especially the case for 60-second options, where each pipette counts a great deal.

Fairer platforms (like Stockpair, which is the one I have used for a significant amount of time), don't screw with the price, you get what you click on. Spot (and therefore, Beeoptions) - Will NOT give you the price you click on. Sometimes you can wait for up to 3 seconds before it hands you a price.

I have done tests on Beeoptions, and in some 250+ trades, I have discovered what occurs:

Say you see a price offered on 60-second options for 1.550 and you think it's going to go up (call). In that instance, you click on 'apply' - From this point, Bee (Spot) should give you this price instantly, but it doesn't - here's what will happen:

... If price goes DOWN (ie. against your position), Spot/Bee will give you the price you ordered immediately... 1.550 - Because in that 60-seconds, you are more likely to lose as price is less-probable to return and go in your favour.

...If price STALLS (ie. doesn't go anywhere), Spot/Bee will wait for up to 3 seconds before giving you a price, and it is normally a pipette disadvantageous to your position (in our example, 1.549)... So if price stays the same for the entire minute, you will lose.

...If price goes UP (ie. advantageous to your position), Spot/Bee will wait again for up to 3 seconds before giving you the price. Why? Because if it gives you a price several pipettes (or pips) up, there is more of a chance of it returning back down (retracing) and making you lose that position. So in our example, it might potentially give you 1.558 or higher if price had moved higher within that 3 seconds of 'processing' time.

You see Bee (Spot) aren't stupid, it's all down to laws of averages and probabilities. If, as in the examples above, you are all the time given the most disadvantageous price time after time, the laws of probabilities dictate that you will eventually drain your entire trading balance and into the Beeoption coffers.

Those of you who have managed to profit... Well, you've seen the comments from others on this forum.. I know of friends who have had their profitable accounts locked or suspended for various reasons... Not for me to go into here...

Suffice to say, if you trade with Beeoptions, you are not going to have a favourable outcome, so do yourself a favour, listen to those of us who know and have experienced this first hand, and stay a million miles away from Beeoptions...

This advice is completely free of charge!!
John,
Missouri, USA,
Jun 14, 2014,
Guest

I had 20 K with BeeOptions, 10 K was scheduled to be sent to my card, instead they continued to delay the withdrawl and placed the funds back in my account. I have contacted customer support, they did not respond. I called on the phone and spoke with Lee and he assured me that 5K would be sent to my credit card and the rest of my account sent out until my account is at zero, so far I have not seen any funds. I will call again on Monday 6/16/2014.