Option500 is a scam! Do not register! Read more in our Option500 review!

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Consumer Reviews

Invested £1000 and realised that my account manager just wanted more and more to be invested. Advised him no more money on the registered credit card and he basically told me to let him try to get some out of the bank (fraud). It took me countless e mails and 5 weeks to get most of my money back as their requirements to withdraw are so stringent, its ridiculous

Don’t touch this so called broker – stress you can do without – unlicensed and just cheap salesmen! AVOID

I have found a way to combat Option500.
A few weeks ago I went on this link (https://usa.visa.com/Forms/visa-rules.html) and I advise you to do the same. I filed a complaint with Visa against Option500 and described my whole case and why they are scammers. It is working right now as Visa is investigating and I will need more people filing complaints and chargeback dispute cases against Option500.

Sep 19, 2020 – 1 Star “Carl Ericsson” forcefully made losing trades on our account RIGHT AFTER we sent him 3 emails saying that he needs to STOP trading on the account behind our backs. He made unauthorized and fraudulent trades, ignoring withdrawal or account closure requests. He keeps saying that it would “affect the trades”. I have lost a total of $22,900 USD

There is a FAKE CNN page floating around on the internet, allegedly announcing Bitcoin Mine, including a dodgy video, that allegedly is made by mr Sakatoshi Nakamoto himself. It talks a bout phase 2 of Nakamoto’s great plan to wipe out the dollar and euro.

Just out of curiousity I signed up, with what I thought was Bitcoin Mine.. but in stead I got signed up with Option500. Within 20 minutes I received a call from a sales person, and he want me to deposit immediately and this way activate my account.. I told him I wanted to investigate first before depositing and activating.. Well, my investigation was done in 5 minutes. This is the FAKE CNN page:

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

I tried to find the allegdl CNN article about Bitcoin Mine via the official CNN website. Nowhere to be found! and when I try to go to that same article again via the original link, I am redirected to money.cnn.com.. with no sliver of info or news about Bitcoin Mine. When I go to the root of the page (cnn.com-cat.tech) I get to the index page of a apache server. owkee, this is enough to tell me. FAKE FAKE FAKE.

My strategy is very simple NEVER trust any company that fools you like this.. this is equivalent to lying and SCAMMING!

Removed my phone number and changed my address on the Option500 page, but there is no simple way to delete my account.. I sent them a hard message to delete my account and personal info, I hope they will listen and do that. Of course I will NEVER deposit, they lost me as a potential customer for ever!

Option500 Scam (Jonathan Gable, Joey Walter, Carl Ericsson)

aizen37

Recruit

I have seen some posts on here already about Option500 and I am starting to see that I am not the only one that is dealing with this. This has been going on for almost a year now and I now need to get serious about getting back at them. Below, I copied and pasted the same report I sent to the Canadian Anti-Fraud Centre (CAFC). This is pretty much my story in a nutshell with Option500.

“Opened an account with Option500 over the phone. Operator asked me to invest around $250.00 to start. After investing, received another phone call from same company except with different person saying that the old person had been “let go” as he had not been making their clients enough money. The new person I started speaking with was Jonathan Gable who said he had lots of experience. He had me deposit at least $4,750.00 USD in total and asked me if he could trade on my behalf. I consented without knowing what he meant as he promised me that my investment would be protected. Initially, I made money and was excited at the prospect of making more money. Asked me to deposit more but I refused saying I had no more space on my credit card. Then, the pressure began. I asked to withdraw all my money as he became very suspicious promising me over e-mail that he can make me over $20,000.00 over the next few months. I insisted to withdraw my money but he finally convinced me and started to trade on my account again. I was uncomfortable with the trades that were placed and e-mailed him as all the trades were losing trades which would wipe out my account. He said it was okay as he “applied for insurance on my behalf.” When I e-mailed him back asking him what that means, I did not receive a response so I e-mailed their customer support centre and Amy Brown, their senior Customer Service Representative said that if my trade bears risk, I would get my initial deposit back. Unfortunately, this did not happen, and I asked for my money back but another individual phoned me by the name of Joey Walter. I asked what happened to Jonathan Gable, and Joey said that Jonathan had to go on leave of absence because he was having marital problems with his wife. Apparently, Jonathan had an affair with his 25 year old secretary and as a result could not work. Joey refused to give me my money back and in fact tried to take money off my credit card twice. I refused to give them anymore at this point and told him not to do it. I even called my credit card company and told them to block him from doing so. CIBC VISA were helpful and preventing any subsequent transactions. Even so, Joey still placed trades on my account. Not to mention that Jonathan and Amy’s earlier e-mails which stated I would get my deposit back were not truthful as I did not get them back. My account went into an even deeper loss at this point and I asked them several times through e-mails refusing to pick up their calls anymore. After all this, another individual called from a Canadian phone number and his name is Carl Ericsson who also works for Option500. Carl was the most aggressive trying to take money off my credit card and he attempted to take of $5,000.00 USD. Fortunately, CIBC VISA prevented him from doing so. However, he was successful in taking off $1000.00 USD as he tried a smaller amount and then applied a bonus of $1,000.00 USD to my trading account. I believe the reason behind this was to lock up my money. Since he applied to bonus automatically to my account, I had to have a certain trading volume before I could withdraw anything. He then said the only way to get the money back now is if he trades on my behalf a volume of $24,000.00. Now not only is my account at a loss, I cannot take my money out and I am afraid they might shut down my account altogether and I might lose whatever is left. I have reported this to the police in the UK and they said they do not see the need for any criminal investigation. I hope this will help to spread the word about Option500 as a complete scam that makes money off of giving empty promises and dubious investment opportunities.”

I also have e-mails and a voicemail (saved) which shows evidence of Carl Ericsson cherry picking “policies” about their bonus just to lock my money up.

Pharaoh

Colonel

FxMaster

Lt. Colonel

I have seen some posts on here already about Option500 and I am starting to see that I am not the only one that is dealing with this. This has been going on for almost a year now and I now need to get serious about getting back at them. Below, I copied and pasted the same report I sent to the Canadian Anti-Fraud Centre (CAFC). This is pretty much my story in a nutshell with Option500.

“Opened an account with Option500 over the phone. Operator asked me to invest around $250.00 to start. After investing, received another phone call from same company except with different person saying that the old person had been “let go” as he had not been making their clients enough money. The new person I started speaking with was Jonathan Gable who said he had lots of experience. He had me deposit at least $4,750.00 USD in total and asked me if he could trade on my behalf. I consented without knowing what he meant as he promised me that my investment would be protected. Initially, I made money and was excited at the prospect of making more money. Asked me to deposit more but I refused saying I had no more space on my credit card. Then, the pressure began. I asked to withdraw all my money as he became very suspicious promising me over e-mail that he can make me over $20,000.00 over the next few months. I insisted to withdraw my money but he finally convinced me and started to trade on my account again. I was uncomfortable with the trades that were placed and e-mailed him as all the trades were losing trades which would wipe out my account. He said it was okay as he “applied for insurance on my behalf.” When I e-mailed him back asking him what that means, I did not receive a response so I e-mailed their customer support centre and Amy Brown, their senior Customer Service Representative said that if my trade bears risk, I would get my initial deposit back. Unfortunately, this did not happen, and I asked for my money back but another individual phoned me by the name of Joey Walter. I asked what happened to Jonathan Gable, and Joey said that Jonathan had to go on leave of absence because he was having marital problems with his wife. Apparently, Jonathan had an affair with his 25 year old secretary and as a result could not work. Joey refused to give me my money back and in fact tried to take money off my credit card twice. I refused to give them anymore at this point and told him not to do it. I even called my credit card company and told them to block him from doing so. CIBC VISA were helpful and preventing any subsequent transactions. Even so, Joey still placed trades on my account. Not to mention that Jonathan and Amy’s earlier e-mails which stated I would get my deposit back were not truthful as I did not get them back. My account went into an even deeper loss at this point and I asked them several times through e-mails refusing to pick up their calls anymore. After all this, another individual called from a Canadian phone number and his name is Carl Ericsson who also works for Option500. Carl was the most aggressive trying to take money off my credit card and he attempted to take of $5,000.00 USD. Fortunately, CIBC VISA prevented him from doing so. However, he was successful in taking off $1000.00 USD as he tried a smaller amount and then applied a bonus of $1,000.00 USD to my trading account. I believe the reason behind this was to lock up my money. Since he applied to bonus automatically to my account, I had to have a certain trading volume before I could withdraw anything. He then said the only way to get the money back now is if he trades on my behalf a volume of $24,000.00. Now not only is my account at a loss, I cannot take my money out and I am afraid they might shut down my account altogether and I might lose whatever is left. I have reported this to the police in the UK and they said they do not see the need for any criminal investigation. I hope this will help to spread the word about Option500 as a complete scam that makes money off of giving empty promises and dubious investment opportunities.”

I also have e-mails and a voicemail (saved) which shows evidence of Carl Ericsson cherry picking “policies” about their bonus just to lock my money up.

Few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:

If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
Invite them to join this thread via email (Send an email to every possible address).

Go to their website and invite them to here via Live Chat
You will find their email and address https://www.option500.com/contact-us/
Also, Share your story as a review here http://www.forexpeacearmy.com/forex-reviews/12704/www.option500.com

You can also share your story on their social media pages mentioned below:

Binary options scams

Find out how binary options work, how to avoid scams and what to do if you are scammed.

Update: The sale of all binary options to retail consumers is now banned. If you are offered binary options, it is probably a scam.

Binary options are a form of fixed-odds betting. Typically, a trade involves whether an event will happen or not (for example, will the price of a particular share or asset go up) and the outcome is either yes or no.

If the investor is correct, they ‘win’ and should see a return on their investment; if they’re wrong, they lose their full investment.

From 2 April 2020, we permanently banned firms from selling binary options in the UK.

This follows the European Securities and Markets Authority’s (ESMA) temporary ban on the sale of binary options to retail consumers across the EU, including the UK, since 2 July 2020. Our ban includes certain binary options that were excluded from ESMA’s temporary ban.

How binary options scams work

Binary options fraudsters often advertise on social media – the ads link to websites that are well-designed and professional looking.

The firms operating the scams tend to be based outside the UK but often claim to have a UK presence, often a prestigious City of London address.

Scam firms may manipulate software to distort prices and payouts – they then suddenly close consumers’ trading accounts, refusing to pay back their money.

We are aware that scammers are targeting consumers searching for investments online, in particular through search engines like Google and Bing. Those offering or promoting products or investment opportunities found through search engines are not necessarily authorised or regulated by the FCA. You can check the FCA Warning List for firms to avoid.

How to protect yourself

Be wary of adverts online and on social media promising high returns from binary options trading.

You should only deal with financial services firms that are authorised by us. As the sale of binary options to retail consumers is now banned any firm offering binary options services is probably unauthorised or a scam.

If you have any doubts, check the Register to ensure a firm is authorised. You can also check our Warning List of firms to avoid.

You should check the firm isn’t a clone firm by asking for their firm reference number (FRN) and contact details and then calling them back on the switchboard number on our Register – never use a link in an email or website from the firm offering you an investment.

Always be wary if you’re contacted out of the blue, pressured to invest quickly or promised returns that sound too good to be true.

If you have been scammed

You can report the firm or scam to us by contacting our Consumer Helpline on 0800 111 6768 or using our reporting form.

If you have already invested in a scam, fraudsters are likely to target you again or sell your details to other criminals.

The follow-up scam may be completely separate or related to the previous fraud, such as an offer to get your money back or to buy back the investment after you pay a fee.

If you have any concerns at all about a potential scam, contact us immediately.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

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