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  1. #1
    Rookie Member psimha's Avatar

    sad1 Big option complaint - psimha !!!

    I signed for online binary trading with a trading company in UK called Big option around 25th of April. On discussion with Broker Kevin White who said he is from USA and has long term experience in Investment banking and he can help me i decided to invest USD 20000/- into my trading account. I gave Kevin the authorization to trade on behalf of me because i am new to it and do not know too much. He promised me to take good care of my funds and return 40 to 50 % profit every month. I trusted him and let him operate my account. That day he made some long term trades which expire on 29th May 2015. I was happy with his decision because he seemed to be cautious and had invested in good trades like Apple, Netflix, Disney and Google. I faced a issue that i had to pay immediately college fee to my daughter and i requested Kevin to withdraw 10K to me so i can bring back end of the month. He informed me that i should contact him the following monday and he will transfer the money. It was fine for me, but unfortunately that day evening i saw my account was empty. I asked Kevin what happened and he said it was a bad day and he lost all my money. I told him it was very important to get the money but he said he could not help. I had no choice but to accept his explanation at that time and wait for the ongoing trades to expire which was scheduled on 29th May 2015. I informed Kevin not to trade for me anymore and i will trade myself. Which he has accepted.



    On 29th around 4.Pm i have received email that my password has been reset on request of my broker and they gave me a new password. when i tried to log in i could not and i looked for Kevin again. He told he i surprised and not aware and he will get to the bottom of this. Later around 7.30 pm Swiss time i was given access and saw my account was empty even though i had winning trades. Someone had operated my account and sold the winning trades at a loss. When i asked him he said he forgot that he had set my account to auto trade software and if the trades were supposed to win the Software would automatically sell and put in other trades. He did not operate my account because i had asked him not to.



    I am in serious trouble and being this company in UK and i am living in Switzerland i don't know whom to contact and what to do. I need your help, I just realized last friday that this website is banned by Swisscom in Switzerland for Phishing activities.

  2. #2
    Master Member SeasaltMcFish's Avatar
    Very sad story again.

    Why do people trust complete strangers with so much money? Wished I had that much to trade with.

    I'm not attacking you. It's something that shouldn't happen and has to be stopped. We try to show people they should not trust a single broker that says he'll give you golden mountains, but mostly we're too late.

    To be honest: I think your money's gone. I don't know if you can make a charge back of a credit card or so, but it looks like a complete loss. Hope you'll recover of this.

    Maybe some other member here has an idea of a solution.

    Wishing you strength and a solution man!

  3. #3
    Legendry Member Okane's Avatar
    Hey there. There isn't anything you can do... You gave them permission to gamble
    with your money and that was a poor decision from your side. Sure, they did take advantage
    from you but still, you asked them to trade for you. BigOption is not regulated either...
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  4. #4
    Moderator Kolyo's Avatar
    This really sucks and as we always tell traders it is very bad idea to allow brokers to trade on your behalf, because their profits are directly debited from your account. Not sure do you have any options to fight against them, but learn your lesson and never allow somebody else to trade your funds, especially if it is coming from a shady binary broker..
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  5. #5
    Rookie Member dannygirl13's Avatar
    They made the samething to me:

    Two days later, he has changed the password ( I can not have access to the site because I never received it in my e-mail) cancel the 2 withdrawals and begin to trade with the ladder at 15:20, until 16:09 and have lost 42 trades of 500$. After he has gone to Binary Option, he has made 19 trades of 2000$ each and sold 16 of them, not because it was dangerous but because they were all finished at 23:00 (7hours after) and he can't have the control on them. For finish he come back to the ladder at 16:35 to finish to lost 5 trades from 500-1000 $ and the last one 100$ until my balance was at 58.65$ How can you explain than a senior trader can lost 70 trades of 500-2000$US and he lost 58500$ in 50 minuts. How a trader can lost 70 trades in 50 min? Especially when Peter sells for $ 32,000 of Binary Option 6.5 hours before the end of the trade.

    It's look to be a direct process for Big Option for make money

  6. #6
    Master Member SeasaltMcFish's Avatar
    I'm still amazed people really put so much money in the hands of others to trade with. Just don't understand. No offense to you ofc.

    THINK!!!

    There is no reason at all for a really winning trader to work with capital of other people. They would trade for their own. What if I write: Send me €20.000 and I'll trade for you? Would you send it right away? I'm on this forum for a long time, so must be trustworthy, have a 67% ITM system for over a year. Reason to give me all your money? Don't think so! I won't stop you, but nah, I like to be honest and less rich instead.

  7. #7
    Administrator Martin Kay's Avatar
    Quote Originally Posted by dannygirl13 View Post
    They made the samething to me:

    Two days later, he has changed the password ( I can not have access to the site because I never received it in my e-mail) cancel the 2 withdrawals and begin to trade with the ladder at 15:20, until 16:09 and have lost 42 trades of 500$. After he has gone to Binary Option, he has made 19 trades of 2000$ each and sold 16 of them, not because it was dangerous but because they were all finished at 23:00 (7hours after) and he can't have the control on them. For finish he come back to the ladder at 16:35 to finish to lost 5 trades from 500-1000 $ and the last one 100$ until my balance was at 58.65$ How can you explain than a senior trader can lost 70 trades of 500-2000$US and he lost 58500$ in 50 minuts. How a trader can lost 70 trades in 50 min? Especially when Peter sells for $ 32,000 of Binary Option 6.5 hours before the end of the trade.

    It's look to be a direct process for Big Option for make money
    If it looks like a duck, walks like a duck, it's probably a...duck? I'm sorry to hear your story.

    Here's what you can do:

    This is a frequent occurrence and we believe traders should make it clear for their brokerages that they don’t want an account manager to trade for them. However, if you want to your account to be managed by someone else, at least make sure you ask for evidence of his/her trading record. This is common sense.

    • If they have traded your account without your permission, that is probably illegal, depending on your local laws. If that is the case, file a complaint with the law enforcement authorities in your country.
    • Contact the authority that regulates/supervises your brokerage’s activity and inform them about the issue.
    • It’s also very important that you notify your broker about this complaint and ask them to come here to express their point of view.
    • Explain to them that you are going to follow legal action if the issue is not solved amiably.


    Yours truly,
    BOTS Team
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

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