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IvoryOption.com Review Visit site

Updated: Apr 20, 2018
0.759 · 6 REVIEWS
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January 2017:  There is an FPA Traders Court guilty vote against this company.  The FPA recommends a high level of caution dealing with Ivory Option until this issue is resolved.

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2016-2032016-12-13abidh72 vs ivoryoption.comguilty

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0.759 · 6 REVIEWS
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Prava,
KT6, United Kingdom,
Sep 7, 2017,
Registered user

Scam Broker - Ivory Option

IVORY OPTION

- After showing interest in Forex trading, I was hounded by numerous Brokers to join their platform.
- After much persuasion, on 3rd March 2017, I finally deposited a minimum fund of £250.00, as per the advice of the Account Manager(AM) ( )
- I was then told that we could begin trading asap but I did not hear from him again until the 6th March.
- The AM contacted me again and explained to me that the fund was not enough to earn better profits and insisted me to add further funds.
- I eventually deposited a further £11,000.00 and he arrange £11,150 bonus from the platform.
- He then immediately placed the following long term trades on my behalf:

Trade 1:- ID: 1402894 SILVER Call 17.714 Opened on 03.03.17 10:58 £5000.00 Expiry: 31.05.17
(LOST)
Trade 2:- ID: 1402890 GOLD Call 1228.183 Opened on 03.03.17 10:58 £1000.00 Expiry: 31.05.17
(WON £1,700.00)
Trade 3:- ID: 1402887 GOLD Call 1227.999 Opened on 03.03.17 10:58 £5000.00 Expiry: 31.05.17
(WON £8,500.00)

In the meantime, I had heard and read enough about Binary Option and just wanted to withdraw all my funds. I applied for the withdrawal of the following amount:

ID: 20558 16:46 07/03/17 £10000.00
This was cancelled on 07/03/17
ID: 20748 09:32 14/03/17 £250.00
This was cancelled on 14/03/17

Having won the trades, I then applied for complete withdrawal of all my funds, include the profits:
ID: 22220 17:37 31/05/17 £21600.00
This was cancelled on 31/05/17 and mentioned that the trading volume was not reached and that I should read the Terms & Conditions.

I then reduced the withdrawal amount to only £3000
ID: 22438 19:16 20/06/17 £3000.00
This was also cancelled and again I was directed to the Terms & Conditions, which said that I needed to reinvest the initial deposit amount 25 times.

Since then, the AM contacted me and said that he was now posted to the USA and therefore, could no longer support me. He said that another AM would be assigned to me and also my account would be placed in the VIP team, where only senior managers would be supporting me.

Jeremy Banks, the new AM wrote to me on 8th June 2017 to arrange an appointment. However, that was it. Nothing else happened. I never heard from him again.

On 11th August 2017, I wrote to Ivory Option mentioning that I would want all my funds to be returned to me asap, or else I shall be taking chargeback and legal action against them.

This is their response:
From: Ivory Option Legal Department Sent: 11 August 2017 11:26

Our Support team forwarded us your complaint to investigate. In order for us to assist you with your account you must speak to a member of our Services Department.

I responded to them the same day that I wasn't interested in talking to anyone. All I want is my money back.

I wrote to them again on the 21st August saying that I was disappointed that I had heard nothing from them and if I didn't hear from them by Wednesday 23rd August 2017, I would not have any other option but to take this matter further.

Then on 21st August 2017, I received an e-mail from Mike North (new AM), saying that he would be on vacation until the 22nd August 2017 and therefore, would be unable to respond.

I have once again written to him today 5th September, as follows:

"Can you update me on the withdrawal of my funds. Please note, that I am giving you a last chance to return all my funds, including my winnings, with full interest incurred. Your company have had my funds since March 2017 and it is only fair that you return my funds with interest. I expect to hear from you by close of play tomorrow 6th September 2017.

Their contacts:
Mike North <mikeno@ivoryoption.com>
<support@ivoryoption.com>
<legal@ivoryoption.com>
CHRIS,
LONDON, United Kingdom,
Feb 26, 2017,
Guest

STCAPITALS IS A SCAM - IVORY TRADING IS A SCAM

STCAPITALS/IVORY trading is a scam and you will lose all your money if you invest in this company.
I was approached by a broker by the name of Adam Naji who persistently call me and emailed me for me to take his trades, they make themselves out to be reputable brokers, BUT THEY ARE NOT, THEY ARE CRIMINALS that will try and get you to borrow money to pay for more trades any way they can and then steal your money when you want to make withdrawals.

The shares are purchased online in their platform, via a contract So you get an online contract purchased assurance in binary options trades, You will see the contracts on your platform once they're purchased.
he will ask you to send copies of your personal information such as passport details & bank details, DONT SEND THEM ANYTHING!!!

He persuaded me to take the trade as he said I would make back money on the initlal investment and also greatly profit upto 70% from the expected growth of the trade.

If you are thinking about taking trades with this company and your reading this review ASK YOURSELF, Why doesn't this broker "Adam Naji' have a social media presence why are there no photos of this man, why is he not on LinkedIn. why is there no Cell phone number to call this guy, why do these guys not have an office you can make an appointment and meet with them before investing. why does he call me on skype all the time, why can i not call this guy back on the number he calls me on!!!!!!!!!
I lost over 15k because i believed everything he said as he made me think that this thing was real when all along it was a bunch of lies.
There are hundreds of people around the world these criminals are targeting and please please please do your research before even thinking about putting your money into anything, seek advise from the FCA.
https://www.fca.org.uk
IF YOU HAVE BEEN A VICTIM LIKE I HAVE REPORT THIS TO THE POLICE AND YOUR BANKS IMMEDIATLEY
http://www.actionfraud.police.uk/
Help other people to avoid these pitfalls and these criminals.
ADAM NAJI and the rest of his criminal organisation need to be brought to justice the more people that report these scammers is the more that the authorities will investigate these fraud cases with ST CAPITALS AND IVORY TRADING!!!! please please if you have been a victim please use the links provided to report you individual case, you are not alone, it can be embrassing and you can feel shameful but it is better to stand up and fight then to roll over and just accept what has happened AND LET THESE ANIMALS WALK FREE TO DO THIS TO OTHER GOOD PEOPLE
opu,
uk, United Kingdom,
Feb 17, 2017,
Guest

Adam Naji operates under ivory option and stcapitals

My father dealt with Adam Naji and lost 70k via Ivory Option.com.
I dealt with the same man Adam Naji and lost 20k via stcapitals.com

Basically they will use every tactic in the book to take your money, then they will pretend to show you that you are making money. Once you decide withdraw, they will go cold on you and never respond to all your mail.

TD,
UK, United Kingdom,
Feb 13, 2017,
Guest

ABSOLUTE SCAM !!

Pure scam. Forced to deposit hefty amount. After winning the trade, when wanted to withdraw, they said it's not possible to withdraw unless more tradings are carried out. Initially was polite, but later became aggressive. Holding my money till today and a guy from South Africa called me in an intimidating tone. Very upset.
Andy,
Landau, Germany,
Dec 3, 2016,
Guest

they are criminals - as simple as that - hope they suffocate on the champagne they buy with my money

did not keep their part of the deal, despite being very bold and self-confident, yelling and intimidating on the phone - no money out - closed account and stopped talking to me - lost above 100K
abidh72,
united kingdom, United Kingdom,
Dec 1, 2016,
Registered user

Most of my money was in my trading but they would not let me withdraw. Please help me in this matter

Issue escalated to Traders Court abidh72 vs ivoryoption.com | GUILTY
they are holding my money. they are financial thieves with no morals at all. I realise with weeks that they are scam but it was too late as already deposited £12500 with them.
Please advise me how to get my money back.

Nov 11, 2016 - No Rating I opened binary trading account with Banc De Binary and deposited £250 from my TSB account. Next day I received a call from the company called Ivory Option somehow they got my mobile number. They said we are better binary trading company than Banc De Binary so move your deposit to us. They even put cancellation request for me to Banc De Binary, may be hacked into my Banc De Binary account. I opened the account with them and deposited £250 from my TSB debit card. They appointed my account manager, Mr Adam Naji. They took all my IDs including copy of my passport. As they said we are regulated by FSA and we cannot open account without verification. They sounded very professional. Mr Naji said I put you risk free trades which means if you lose we will refund your initial deposit to your trading account and you would not lose a penny. For this kind of trade minimum you need is £5000 for each trade and maximum two Risk Free Trades (RFT) we give to a new customer. I told Mr Adam Naji that I do not have this kind of money. He said, do you have a credit card. My answer was yes. He said you can use credit card and by 15 April 2016 you will win this trade and earn 75% on your investment which is £8750 and you can return £5000 to your credit card the rest is your earning. As the chances of winning is 93% and even if you lose we will refund your original amount. Thus is win win situation. I deposited £5000 from my TSB credit card and he sent me RFT offer signed by their VIP department –copy is attached. He put me on RFT trade. Next day Mr Naji rang me and said you must take second RFT trading and you need to raise another £5000. I told him that I cannot do that as my credit limit does not allow. He said you raise £2500 and will give you £2500 as a bounce and put you on second RFT. I deposited £1000 from TSB credit card and £1400 from my Barclays credit card. As I had £250 my initial deposit thus I was able to make up £2500. He sent me RFT offer again signed by their VIP department. I have copied of these offers. During this time he was ringing to persuade me to take up these golden opportunities. He did not mention any bounce turn over requirement. I was blindly trusting him whatever is was telling me.
Next day he called me again and he said now I will teach you daily trading and the best way to do this is use our bounce money. If you put £5000 we will give you £5000 as a bounce once you receive the bounce than you can withdraw your £5000 back and use our money for daily trading and training purposes. I told him that I do not have this kind of money and all my credit cards are stretched to the limit. He advised me to borrow from your friend for a day and once you got the bounce then you can withdraw and give him back. I borrowed from my friend and deposited £5000 to my trading account he sent me e-form to sign for the deposit which did not show any term and conditions I signed and returned. They deposited £5000 making £10000 in total. As I wanted to return this money to my friend I straight way put a withdrawal request and it went into processing. Mr Naji turned his tongue and he said you cannot withdraw your deposits. Once you used all your bounce then you can withdraw. I stopped trading. At this stage I got suspicious about them and contacted to TSB on the same day I deposited this £5000 they said that cannot stop the payment. They advised me that you talk to Ivory Option to resolve this issue. To resolve the issue I made numerous calls to Ivory Option and contacted them via e-mails but no positive response for two weeks and they told me that you have to trade to reach the turnover. As I was told lies through from account opening to Risk Free Trades (RFT) to bounces thus I no longer trust Ivory Option. I requested them to take your bounces back as I did not used them and let me withdraw my deposits but they opposed to that idea. When my first Risk Free Trade was lost I requested my account manager Mr Naji to return £5000 to my trading account as agreed by RFT offer, he sent me an e-document for signing. I printed the document before signing as I was very cautious to sign anything from Ivory option anymore. The document stated that the £5000 will be returned as a bounce and turnover is required to withdraw. I was not given that information when I was put on RFT and neither terms and conditions for RFT were stated on their website. I refused to sign the document and requested my account manager to return the amount £5000 to my trading account. At this point I ended my second RFT trade which was wining trade and all the amount for that trade went back into my trading account. At this point my account manager stopped communicating with me. I contacted Ivory Option support team as requested them to pass my call to Mr Naji but he never talked to me. I continued to login to my trading account keep telling the customer support team via live chat about my problem but they made too many false promises but was not getting any positive response. During this period I only logged into my account to take photo of my trade account balance and for live chat regarding my issue. But at the end I felt like hit my head against a brick wall as was not getting any response from Ivory Option. Under those circumstances I had no choice but to raise a dispute for the following amounts £5000 (TSB debit account), £1000 and £5000 (TSB credit card). I held back for the amount of £1400 which I deposited from my Barclays credit card.
TSB applied chargeback to my trading account and £5000 which was chargeback on 26th April 2016, £1000 and £5000 was chargeback on 10th May 2016-see attached my trading account statement. When the first chargeback was applied I received a call from Jim Turner Ivory Option documentation team. As he spoke to politely and asked me to tell the full story about this matter. I explained him the whole story and he requested me to forward him the copies of e-mails from Mr Naji who provide me misleading information. He promise to call be back straight after assessing these e-mails. He rang me after ten minutes of sending these e-mails. Hence he admitted that the mistakes were made and he promised to me that we will refund £5000, £2500 and remaining lost RFT of £5000 will be investigated. In return he requested me to sign a credit authorisation form for the amount of £5000. Between his calls I rang to TSB dispute team and asked regarding signing of this form. They advised me not to sign any document as the dispute is ongoing and they also advised me to asked for written confirmation for refunds with amounts, as they cannot take call recording as an evidence. When Jim called again I requested him for written confirmation of the refunds, in return I will sign the credit authorisation form for their audit purposes. He agreed verbally but did not confirm in writing hence I did not sign this form. I have recorded all the conversations I had with Mr Jim turner. This recording gives full information of this matter. In the meantime Ivory Option appointed Jack Roberts as my new account manager whose only motivation was to agree me for trading and empty my trading account by making me loose. I insisted not to trade until my concerns are not resolved. I have record of all communication I have with Mr Roberts. When TSB applied chargeback on 10th May 2016, Mr Roberts stopped communicating with me. But I continue to pursue the matter with Ivory Option support team mainly with Celena Corner.
At this point Ivory Option closed my trading account and I could no longer login. They confirm this in writing saying that the account is closed due to chargeback and money has been returned to my bank and you must figure this out with your bank-see attached emails.
I contacted TSB dispute team and also forward the copies of e-mails I received from Ivory option support team. But TSB told me that the money never come back to them so they cannot credit my accounts. Throughout this dispute I received very unprofessional service from TSB dispute team. TSB credit card dispute team finally credit my account in June as temporary measure while the dispute was still ongoing.

I was shocked to receive a combined letter from TSB debit and credit card teams saying that the decision was made in the favour of the retailer so you need to communicate directly with the retailer to resolve this issue. As I was still in communication with the retailer I contacted them again via phone call and spoke to Celena of 15th August 2016. She promise to me that she will look into this case and will talk to their finance department. For the period of 15th August 2016 to 15th September I was away on holiday but I was still communicating with support team for the updates but no response. When I came back I made numerous call to support team regrading this matter as my intension was to give Ivory Option another change before I take further action.
Bhart54,
Arizona, USA,
Mar 4, 2016,
Guest

This company is a terrible scam!! Among many other violations and frauds, they sent me a notice that my $17,488.46 withdrawal had been approved and sent to my debit card and my account was closed. That money was never sent and now there is no response.

I need help????