BigOption users beware

nikita.levitan

Newbie
4 0
Guys, Wanted to share my story with BigOption. This is to serve as a warning to those who have an account with them. Here are the facts:

1. I started trading with them on September 12th with 250 deposit. I later added $2250 more

2. I accepted a sign on bonus of 2250 with a x20 turnover requirement

3. My account manager was Lindsay Taylor Wells

4. On September 30th I noticed that I was no longer able to cancel an entry i did not like. The cancel or approve feature was missing. I reached out to my account manager and she told me it was disabled because I "abused it". I explained to her that I cancelled 2 separate trades a day prior multiple times because i did not like the strike price compared to MT4 . She told me it's ok and that she will work on getting this feature re-enabled. At no point did she tell me that my account would get suspended as a result.

5. I traded this account till October 6th for a total volume of $55,610 thus surpassing my bonus requirement. Total profit 3511+2250 bonus = 5761(excluding ties).

6. I wanted to open a larger 5000 account in EURO, so to confirm BigOption was legitimate, I asked for full withdrawal. Total account balance at the time was $8700.

7. Through numerous conversations with support staff, and my account manager, I was told that the full balance will be transferred back to my credit card in 7 business days. I found that strange as usually profits get deposited to a bank account, not a credit card. So I confirmed this a few more times with them and they told me not to worry.

8. On September 6th I received my initial deposit back to my credit card. When asked about the other 6200 i was told, not to worry and that it's coming. I also noticed that I could no longer log into my account and that my account manager has vanished (she no longer respond to Skype or email, even though i could see she was active on the account.)

9. They kept saying that for 2 weeks, until finally requested me to send them my bank details. This is after numerous emails and chat.

10. When i requested an update, i was told my account is with finance and will be processed early next week, and of course - not to worry

11. October 15 got an email from Ryan Jeeb, in Risk management, siting "Cancel feature abuse" from their terms and conditions. This states:The use of the cancel feature will be considered as a system abuse if the client cancel positions accede 20% of the number of executed options in a trading period. BigOption reserve the right to cancel a position that is resulted as a cancel abuse, disable the cancel feature, refuse to distribute profits or to suspend the client account incase such an abuse is detected."
I replied to him that I discussed this issue with my account manager, and explained that I did not abuse the feature but instead cancelled the same 2 trades multiple times. I was not aware that using features available on the site are considered abuse.

12. He replied, by copying and pasting the same email again. I replied saying that I don't feel what they are doing is right and that if they don't pay up, I will share my story everywhere I can to warn others. I also stated that the amount of charge backs and reputation control that they will need to do will probably be more then what they owe me and gave them 48 hours to reconsider.

13. Got another email telling me not to threaten them, and warning me that they will have their legal department after me.

14. I made them an another offer: Pay me the bonus that i earned by risking my capital, and profits I made AFTER they disabled the feature. This way i they could not claim I abused them, since i had no way of doing it. Total would be 4363.

15. They refused again and told me they don't make deals with terrorists lol. Ok that's a joke - this is what they said: "BigOption has a clean record and we have no interest in bargaining or making “deals” with our clients. Especial not with clients that have tried to abuse the system."

So you may wonder why would I write this whole thing and waste my time. I was clearly told that doing so would not get me paid. So yes, no personal gain here. Just wanted to share my story and warn the others. Here is a $6200 advice: Take your money from BigOption and run. You likely " abused" their system as well

For those of you who like proof here is my trade book:
https://docs.google.com/spreadsheets...sLI/edit#gid=0

Here is the bonus offer:
2014-10-21_1803 - Nikita.Levitan's library

Here is the conversation with Account Manager about the cancel feature:
2014-10-21_1807 - Nikita.Levitan's library

Promises of withdrawal:
2014-10-21_1809 - Nikita.Levitan's library

Number of emails it took to get them to say they wont pay me (17):
2014-10-21_1811 - Nikita.Levitan's library

Them citing their terms:
http://screencast.com/t/hkx53MQlkKUu

Some nasty emails:
http://screencast.com/t/1IxKGNreHh

http://screencast.com/t/I3iM6JRsvCIy
 

Lightning McQueen

Moderator
4,935 788
sorry to hear of your plight. though that's the spirit as you're out of pocket, give them a right online roasting (y)

they're based in the Seychelles, and I'm going to guess they're pretty much bullet proof. you're hardly likely to roll up on their doorstep and demand the cash, or have much chance taking them to court for not honouring any terms their side of any bargain. bit lame to hide behind some dumb clause of theirs don't you think? did you abuse it, really badly abuse and your not telling?

there are posts/threads on here somewhere that warn of these type of outfits not paying out. the bonus clause is a usual tool to snare deposits I've seen. much to their chagrin you got over that hurdle. so they slipped the mickey finn.

hope all goes well (y)
 

nikita.levitan

Newbie
4 0
thanks

sorry to hear of your plight. though that's the spirit as you're out of pocket, give them a right online roasting (y)

they're based in the Seychelles, and I'm going to guess they're pretty much bullet proof. you're hardly likely to roll up on their doorstep and demand the cash, or have much chance taking them to court for not honouring any terms their side of any bargain. bit lame to hide behind some dumb clause of theirs don't you think? did you abuse it, really badly abuse and your not telling?

there are posts/threads on here somewhere that warn of these type of outfits not paying out. the bonus clause is a usual tool to snare deposits I've seen. much to their chagrin you got over that hurdle. so they slipped the mickey finn.

hope all goes well (y)

Hello Lightning,

Thanks for your kind words.
They claimed that I abused their system, and therefore will not be paying out any profits. I used a cancel button on their site several times within a span of 2 minutes or so because the strike price they were offering was delayed by almost 4 minutes compared to my mt4. They ignored the fact that I discussed this so called abuse with my account manager, and she told me that it's ok and that she will resolve the misunderstanding for me. She never did. I continued to trade without using the cancel button feature on their site (using that button was "abuse") to make almost 3 k more. They now owe me 6200 in profit and wont pay out. They also warned me about sharing my story, and that their legal department will come after me.
Do you know how do i get them listed here? http://www.trade2win.com/reviews
 

nikita.levitan

Newbie
4 0
I don't know how to list in the review section. I can only suggest messaging admin to request the addition of bigoptions.com http://www.trade2win.com/boards/showgroups.php try timsk i'm sure he'll help.

there is a thread for bigoptions.com over at forex peace army. I would suggest adding a post there http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/36233-bigoption-com-scam-broker.html

Thanks for your advice, I already have a case open on FPE.
 

Lightning McQueen

Moderator
4,935 788
 
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