Jump to content


Next High Impact Market News Event:
Retrieving events...


Toggle shoutbox The Traders Chat Open the Shoutbox in a popup

@  happyjas : (08 April 2020 - 07:41 PM) oooops.. sorry about that mtp.. :)
@  Tripack : (08 April 2020 - 03:30 PM) no need to be disrespectful towards other members though
@  Tripack : (08 April 2020 - 03:29 PM) Congrats hj :)
@  happyjas : (08 April 2020 - 08:56 AM) salamat ktp.. B)
@  traderpusa : (08 April 2020 - 02:10 AM) congrats happyjas.
@  happyjas : (07 April 2020 - 01:45 PM) 100 pips on EU, thanks ktp.. thanks MAster David.. Use the verified strategy here in this forum.. B) ("crossing fingers is gambling", geez roopem, get your indicator and your strategy then shove it in your butt!!) :lol:
@  traderpusa : (06 April 2020 - 11:40 PM) Q was just extended to April 30.
@  traderpusa : (06 April 2020 - 11:40 PM) @Singh, true, but wife and kids at home now too 24H lol. No peace anymore.
@  Singh : (06 April 2020 - 11:05 PM) @traderpusa lol I dont think quarantine is a problem for traders. We are usually stuck to screensn24/7 lol
@  traderpusa : (06 April 2020 - 08:34 PM) well, already 3.5 weeks in quarantine, most probably 3 more to go.
@  traderpusa : (06 April 2020 - 08:32 PM) :blink:
@  Singh : (06 April 2020 - 05:15 PM) @happyjas I think it have room to go down another 100 pips or so,but who knows
@  Singh : (06 April 2020 - 05:13 PM) @Tripack Sup T how are you man?
@  happyjas : (06 April 2020 - 01:44 AM) "You could just go with your own instinct.. all the time. I have gone on what I have always thought."
@  happyjas : (06 April 2020 - 01:42 AM) roopem, that's your opinion.. don't take it seriously.. I've shown my sentiment through chart reading.. your call?.. what say you?..
@  roopem : (06 April 2020 - 01:08 AM) crossing fingers is gambling
@  happyjas : (05 April 2020 - 11:00 PM) heads up guys and gals!.. EU goin' up.. fingers crossed here.. B) https://imgur.com/wNQBQT4
@  Tripack : (05 April 2020 - 09:52 AM) Hey Mr Singh
@  Singh : (05 April 2020 - 12:53 AM) Hey Fellas,how is everyone
@  calcalex : (03 April 2020 - 01:12 PM) @Nickachino I hope not to be honest

Photo

Account manager from Everyoption steals money (is this legal?)


  • Please log in to reply
9 replies to this topic

#1 zchen3

zchen3

    Newbie

  • Members
  • Pip
  • 4 posts

Posted 07 October 2015 - 11:21 PM

Hi, I am relatively new to BO, not a regular trader, just love the idea of it and started learning couple months ago. This is one of my favorite forum. Unfortunately, my first post is a warning. I also posted in the binary option watchdog. Maybe it's a common sense among most people since BO has been around for a while. Here is my encounter and hope can provide an old fashioned warning to all other new comers. The warning is not about BO itself or specifically a company, it's rather a 'legal' way to steal your money by taking advantage our weakness.

 

In short, I was talked into deposit (relatively small amount) by Mr. Ari Price (probably not real name) from everyoption in late Aug. In his words, my account was too small for frequent management. So i watched the account grow slowly with small weekly profit as Mr. Ari Price declared from winning trades (never seen one transaction in account because it's suppose to be on his side). I guess that's what phishing is (figure1). I at least kept whatever little sense and pride I have left, didn't deposit anything more despite Mr. Ari Price trying efforts. I only traded $5 just to test strategy few times a week. So today, I woke up, login in, BANG, reality hits! A total of 16 trades were made postdated to today and blew up my account to 2 dollar (figure 2). And obviously, I probably won't be hearing from Mr. Ari Price and everyoption anytime soon. :)

 

So after some thorough search and thinking, obviously it's nothing new in BO world. I wish I had searched more before making that decision. The reason I invested in BO was because I believed it's a skilled gamble (like counting cards in blackjack). I am learning it and doing ok in demo. It's the quality of company that run them make differences. So I wouldn't call the BO industry a fraud unless they don't pay or cheat. We just have to be smart with our own money, not to trust those so called money manager and all those promises. Win or lose on your own term is the best way. But do it after you know the fundamental trading skill because noone will do that for you.

 

Something to take away from this for someone like me,

 

1. Never let others to manage you money in BO regardless of their reputation! Because all BO companies and money manger work together to get your money slowly. As soon as they detect your hesitation, they can "legally' lose your money to company without a blink just because they can do it without any consequence. Other investment (stock..etc) manager probably only makes money from value gains, so more incentive to be legit. As for BO, their target is your deposit, so by assigning a money manager, effectively secure your deposit for them. As soon as no more hope for more gain (deposit), it's time to send the hitman to selectively slaughter the pigs, pull the plug whatever you call it. So, NEVER, NEVER get assigned to a money manager (you still have that BO manager that recruited you who is probably regulated).  I think in this case, my 'less-deposit' approach backfired and become their cleanup target and expect me to take the loss quietly.

 

2. Always start with and withdraw small amount. BO companies work with external money managing company to get large account holders but sacrificing smaller 'unattractive' ones like the one I have. I believe every lost trade they made were credited a win to their 'value' accounts so they can give other people more reasons to deposit more until other 'value' accounts appear. It's a cruel cycle. And the only way to break it is to stop signing with them (obviously I didn't listen to myself).

 

I'd be happy if this post can get few of you guys looking for easy money from BO managing give a second thought. Now let me attach the trade screen for proof. I assume most people got cheated are too embarrassed and dont' want to be laughed at, but I am already passed that stage and only wish to get even by expose this devilish scheme to as many people as possible. So I am sorry, if you guys see similar post I make at other places.  I blocked some sensitive information in figure. Probably wont be too hard to figure out how much I lost by looking at the bets (about a little less than half of that was technically the 'profit' and loss from my own trade). So yeah, sucks but not end of world. Sorry about the rambling and expressing repetitively. You can make fun of me if you want. :) But be aware what you are getting into.

 

 

 

Good luck to all

John.

 

 

 

 

 

Attached File  BO_Account1.jpg   103.82KB   0 downloadsAttached File  BO_Account2.jpg   99.17KB   0 downloads



#2 leany

leany

    Member

  • Members
  • PipPip
  • 34 posts

Posted 08 October 2015 - 01:51 AM

Taking advice from a BO broker or having your account managed by a money manager associated or affiliated to a BO broker is obviously suicidal because of the conflict of interest. The BO  broker is the opposite counterpart in binary trades , therefore your profit is their loss (in principle, to the extend they hedge or net your positions with other traders). Therefore ,due to that conflict any broker who gives advice or signals to their clients that consistently make profits , will simply go out of business due to losses on their part. Brokers are in business to make money, they are not some humanitarian organisations. And they do not hesitate to go as far as they can to get their share of the cake. The broker is not your benevolent friend , the broker is always your arch-rival in the wrestle for profits.  From the broker 's side your deposit is always part of their potential profit , in addition to the spread on your trades, thefore you let them advice you or give you signals at your own peril. 



#3 zchen3

zchen3

    Newbie

  • Members
  • Pip
  • 4 posts

Posted 08 October 2015 - 04:07 AM

Thank you, Leany. Well said. Not better way to put it, at my own peril indeed. I just hope this can remind more people what greediness/ignorance can do to a person (me included). I think what brokers did was to get the better of that momentary  relapse of my judgement. 

 

Anyway, just received a standard reply from my account managers with no surprise of asking for re-investment. I am here to expose their hideous strategy as much as possible and will provide any updates.

Though not sure whatever his explanation has anything to do with those binge bets. :)

 

"

After reading your Emails I would like to give you my response.

 
I understand how you feel but you have exaggerated. All attempts to secure your investment has been fulfilled.
What happen is that we have done like we agreed on the phone, we have made an aggressive trading session in order to build your equity higher.
 
I will explain now what happened in this session.
 
After the agreement by your side to do a trading session I waited to the right moment.
Your investment had one goal. to reach to as much equity as possible.
So we held promising position for you. 
Unfortunately there was A market cap overload on bank equality sections in which they knock out smaller investments to a Loss to uplift they're own share prices and the trading session was unexpectedly profitable and Bared a loss. The main reason for my absence it is because you were not the only client in this position.
 
We have lost on loans and bonuses to our clients around 3.1 million So you're not alone here I am very sorry unfortunate event but the best thing for us to do is re-invest together and Recover on pip fraction movement as the market is still at a point of return
 
Regards."


#4 luca1073

luca1073

    Member

  • Members
  • PipPipPip
  • 2,364 posts

Posted 08 October 2015 - 04:20 AM

i didnt know there were brokers even asking to manage the accounts or even take trades for you (the trader). i thought they were just luring people into investing more or to take big losing trades...but by you, not them..... this is ridicolous

 

so you gave the password to this guy? or he just accessed like that your account?

 

these brokers should be just deleted from planet earth even for trying to do this....

 

I'm sorry for what happened



#5 zchen3

zchen3

    Newbie

  • Members
  • Pip
  • 4 posts

Posted 08 October 2015 - 04:08 PM

Thanks, Luca.  Leany pointed out the most obvious flaw in the setup. In my case, the account manager created account for me :wacko:. But I doubt this could prevent anything as the BO account is linked to the broker system, so they can make investment for you anytime. Due to the nature of BO trade, it sure feels like a perfect setup for you to fail. But my question is why did I (or others) buy into for that. What happened during the conversation. 

 

So here is my flawed understanding how the BO system works after some thoughts and please correct me if I am wrong. My incident is just a small piece of puzzle.

 

It's a collaboration between BO companies, Borkers and Banks.

 

1. BO companies and brokers are on opposite side in nature but they need to figure out a way to make money together, or brokers with high finicial analytic skills will destory BO trades.

2. The banks issue those huge contracts (a large scaled of BO (up or down) on anything, I've seen one about $25,000 per contract) to the brokers. 

3. Brokers recommand or trade the contracts to their elite clients (GOLD, VIP, whatever they called). Up or down of a stock, 

4. Depends on the distribution of the contracts, the market will be manupilated to make sure the banks will always make the money. And brokers takes the commission from losing contracts (our 

    money manager's salary), probably around 50% w/l ratio will make everyone happy and not losing too much clients. 

5. 1-4 is repeated with the differences in which clients win and lose, because you know money doesn't grow from ground, it's actually from someone's pocket. :)

 

How does the BO companies fit in this? They are actually very important, they are the center point for recruiting large accounts. Everyone starts small and they get you hooked on this idea because most people think they can handle small losses. 

 

6. BO companies is responsible to scan for potential large account clients for brokers and pocket money from those true casino type gamblers (traders without basic trade knowledge).  

 

7. BO companies will try to assign rest people (with stable income) to a broker as a way of future profit targets to gain agreement with brokers that not to make money from the BO companies.

   (My question are: are all those broker managers have the same power like Mr. Ari Price or need to have a specific agreement between clients and them? My guess is they do, but choose not use it until they decide to take your money away. And can we really refuse to get assigned to a broker nowadays?) 

 

8. Then the brokers needs to filter out the group futher. Those who doesn't have intention or lack of ability to be upgaded to gold/elite levels can and will be eliminated "legally" after internal deadline (e.g. one month phishing in my case). Again, win-win for both BO and brokers.

 

9. After things settled, both levels will have enough traders for profits as non-obedient accounts (smart money makers  :) ) wil be dealt on a case by case base because the money you make are from their pockets. 

 

So what happened during the phone call. The broker money manager sell the hopes of making more money with more money which is common. Here is the trap, they gave people the hope of building slowly to reach the higher level for their account. But in fact, unless you deposit more out of your own pocket, they will never let you grow slowly because you can't grow on their or BO company money, something they 'forgot' to mention (Leany's theory is at work again :lol: ). Yes, if someone stick to the basic rules of "don't give your money to strangers", nothing will happen.

 

So you either stay low keys without a money account manager (probably most cases) or go really high with the money managers and hope you on the winning side more often and take risk of not offending them by winning/withdrawing too much. But, NEVER, NEVER, deposit at middle level with a money manager  without intention going futher because at that point, your money is as good as theirs.  :angry:  

 

Sorry about the rambling again. Now let's enjoy the hockey season. :)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Those brokers have something called contracts with banks, it's a much large scale of 

 

 

 

 

BO account management is like other standard commission-based money managing accounts. I had good experience while invested with similar type of broker except no BO that time. It can have very nice return, better than mutual funds, if the market timing is good like couple years ago. They have no reason to lose your deposit as they are truely commission-based and being regulated.

 

 

 

I had my doubt with BO money managing, my mistake was that I underestimated the strong relationships between the BO companies and brokers and how cutthroat they can be. Assigning an external money manager should be a clear warning sign already. I am not blameless for this mess, because deep down, I am always ready to take the risk of  losing all because BO is simply a more skilled all or nothing coin toss gambling platform in nature. But your probability is 0 instead of 60/70 when they are working together (repeating Leany's point again). To me it is a fraud and unimageable before this BO investment because legal gambling means some sort of probability, not when the host rolled the dice behind curtain and calls out every number against you. But realizing how everything can be unpredicatble but justified at the same time in finicial world, little individual can do as they hide behind this "you gamble, you lose" wall,  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I will post some of the initial email at the end of this post.

 

 

 

 

Here is a good read on BO account manager, not the external money managing broker.

http://www.barronkei...ly-salespersons

 

A few extra thoughts.

1. The key selling point of any BO money managing account is they are like any other commission-based investment account. They don't make money in bad management,

 

 

The only difference, as pointed out by Leany, is money manager can make 'investment' to lose for you 'legally'.

 

Here are a few of my thoughts, could be wrong.

1. Those external brokers are real money managing firm but not limited to BO. BO is actually an old concept of high level


  • luca1073 and Ganesh like this

#6 GoFlowBinary

GoFlowBinary

    Newbie

  • Members
  • Pip
  • 9 posts

Posted 08 October 2015 - 08:34 PM

I think it might be legal. You will have to file a cypriot form WR740-27-U-LOSE to the office of official funny money management affairs in transit of vocational services to the general public of displaced funds management. If you go to that office and they require a form with a blue stamp then you are indeed a 1st class displaced recipient of a 1a cross 7b dash 9,4 comma 7 over R. So that would indicate they have the license to steal and your funds are being used for swedish massages and cigars but only if funds are segregated in russian oil money with a oversight of the "Putin home savings and loans for older russians committee." Which meet once every 3 1/2 years to examine cases of said nature. So please submit form 997458 to the Interior of siberian garbage relief workers who take out the trash every 4-5 years depending on weather conditions by august 17th of next year... Then wait a year or 2 for a reply to see if they will accept your case to which they will then submit it to a random citizen located in any african country that have both muslim and christians living together to see what verdict they would deem as fair compensation. Afterwards they will stare at the form written in russian and not be able to come to a consensus thus dispersing with your case as they use the paper for kindle for a fire to warm themselves...    



#7 zchen3

zchen3

    Newbie

  • Members
  • Pip
  • 4 posts

Posted 21 October 2015 - 06:04 PM

Just a quick update on what Everyoption doing now and be aware.

 

everyoption.com is  'merging' with AllDayOption.com. :) to scam more people in the future.

I am sure it is the same people behind all this. They can't even come up with a decent name. Soon, Mr. Price and others will be calling people using the name of alldayoption.

 

DO NOT fall for the trap.

 

thanks



#8 paki786

paki786

    Member

  • Members
  • PipPip
  • 69 posts

Posted 27 October 2015 - 02:32 AM

Haven't heard of brokers asking for the opportunity to steal the amount when they already have it in their trading accounts. Anyways, we should not be aware of some scam companies that are making money around by trapping Innocent traders.



#9 Ganesh

Ganesh

    Newbie

  • Members
  • Pip
  • 9 posts

Posted 21 November 2015 - 07:29 AM

NO IT IS ILLEGAL..... WHOLE WORLD WILL NOT HELP YOU... THAT IS TRUE....



#10 Ganesh

Ganesh

    Newbie

  • Members
  • Pip
  • 9 posts

Posted 21 November 2015 - 07:44 AM

I think it might be legal. You will have to file a cypriot form WR740-27-U-LOSE to the office of official funny money management affairs in transit of vocational services to the general public of displaced funds management. If you go to that office and they require a form with a blue stamp then you are indeed a 1st class displaced recipient of a 1a cross 7b dash 9,4 comma 7 over R. So that would indicate they have the license to steal and your funds are being used for swedish massages and cigars but only if funds are segregated in russian oil money with a oversight of the "Putin home savings and loans for older russians committee." Which meet once every 3 1/2 years to examine cases of said nature. So please submit form 997458 to the Interior of siberian garbage relief workers who take out the trash every 4-5 years depending on weather conditions by august 17th of next year... Then wait a year or 2 for a reply to see if they will accept your case to which they will then submit it to a random citizen located in any african country that have both muslim and christians living together to see what verdict they would deem as fair compensation. Afterwards they will stare at the form written in russian and not be able to come to a consensus thus dispersing with your case as they use the paper for kindle for a fire to warm themselves...    

you too part of banc de binary






0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users


USA REGULATION NOTICE: There are many binary options companies which are not regulated within the United States. Most of these offshore companies are not supervised, connected or affiliated with any of the regulatory agencies such as the Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA).

It is our STRONG opinion that you do not operate with any unregulated brokerage firm as they may steal or try to scam you out of every dime you have. Please take notice that any unregulated trading activity by U.S. Citizens should be considered unlawful.

Risk Disclosure: Binary Options Edge does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education material, price quotes and charts, and analysis. Please be aware of the risks associated with trading the financial markets; never invest more money than you can risk losing. The risks involved in trading binary options are high and may not be suitable for all investors. Binary Options Edge doesn't retain responsibility for any trading losses you might face as a result of using the data hosted on this site. The data and quotes contained in this website are not provided by exchanges but rather by market makers. So prices may be different from exchange prices and may not be accurate to real time trading prices. They are supplied as a guide to trading rather than for trading purposes.