CTOption is a fraudulent broker that steal money from customers

boseagullboseagull Posts: 2
Stay away from CTOption! If they do not steal your initial deposit, they eventually will steal your profits.
I opened account with CTOption in January 2016 and deposited $500.00. The sales person offered me a bonus for $500.00 without explaining what this bonus means. Then a person named himself Eddie Lewis called me and said that he is my account manager. He offered me to trade my account for 2 weeks with CTOption professional trader. I agreed, and within 2 weeks my account increased for $328. Meantime I found several bad complains on Internet about CTOption and also found that the bonuses they give to customers and managed account are bad ideas. So after 2 weeks I asked my account manager to remove the bonus from my account. I also asked for withdrawal of $250.00 to check if I can do it without problems. The bonus was removed and the withdrawal was processed. They charged $50 fee for that first withdrawal even if my account manager assured me that there would not be any fee. So I received only $200.
After reading from Internet and hearing stories from different sources how binary brokers including CTOptions deceive their customers I refused to use any of their services and started trading myself. After several months I made some profit and asked to withdraw $500.00 from my account. This withdrawal request took almost 2 months to be processed with different lame excuses from my account manager. He also took from my account initial $328 made by their pro trader, and I did not object it.
My last withdrawal request for $500.00 I made on July 12. My account manager Eddie Lewis (or whatever his real name is) called me only after several of my emails regarding stratus of this withdrawal request and assured me that the withdrawal request will be processed by Monday, July 25. And the same day the status of this request “in my CTOption account changed from “pending” to "approved”. But on Monday July 25 I did not find the money in my bank account. Instead I found that the rest of my money in my CTOption trading account in amount of $1347.38 was cleared out by some mysterious “Adjustment", and now my account balance is 0.
I sent them emails and tried to reach my account manager, but of course in vain. Nobody answered. So in result they stole from me $1847.38 of my profits (not including $50 fee from the first withdrawal). I have all documents proving what I wrote here. I would appreciate any advice where to send these documents to force them to pay me.

Comments

  • vhilfordvhilford Posts: 3
    I recently had the same experience. On September 23, 2016 I signed up to CODE FIBO and automatically CTOption was assigned to me. I deposited $500 as required.

    From inside CODE FIBO I could turn AUTO TRADER ON/OFF, but no trades were placed. I was advised to withdraw my money and open another CODE FIBO account. Auto trader OFF, I initiated an withdrawal on September 29 and got an email that withdrawal was approved and it will take 7-10 days. On October 10 I logged in to CTOption and redid the withdrawal for $500 and got another confirmation email.

    On October 12 I logged in again to find out the status of my withdrawal and to my shock the account balance was $18. No trace of my withdrawal requests in their system. I emailed customer support and they pointed out that the auto trader (which one since CODE FIBO was OFF!) placed a barrage of 30, and 60 seconds trades within less than 2 hours. Now, CODE FIBO has a maximum of 10 trades a day and they are never 30 or 60 seconds! Stole it!
  • OkaneOkane Posts: 942 admin
    Thanks for sharing with us and it sucks to hear. This is why I keep saying in basically ever robot/autotrader-related post/thread that these
    robots are created to rip you off and deplete your accounts. Anyway I hope you stay away from such scams in the future!
  • OkaneOkane Posts: 942 admin
    jibjab said:

    i dont trust these reviews...i call b.s on this

    Which reviews?
    If you are talking about vhilford, I think you might be misunderstanding him. He is saying
    he got scammed - Cofe Fibo and CTOption working together to rip people off. Nothing unusal, all autotrader
    scams work this way to rip people off.

    Or perhaps you mean a comment from someone I banned already?
  • SantiagoNick21SantiagoNick21 Posts: 1
    CToption was a scam from the start. I got submitted to them from Quantum code who said they would handle the account while running their Binary options robot and that the more money you initially invested the more likely you were to succeed. I put up the $500 which CToption said they'd match. It went up for a second then down to $850 in which I requested a withdraw my account for just the original $500 and they refused to get back with me. Quantum Code support was worthless and non existent. All of it was a scam. At least it didnt cripple me but damn that hurt. Never again.
  • ChefChef Posts: 5
    yes. Beware. Don't use CT option. Really bad broker with only one goal: get your money as fast as possible.
  • playtowinplaytowin Posts: 1
    CTOption is a 100% total scam. All of the trades are fake, you can never get your money back out and they lie to you with every conversation. It starts out great and a strong winning percentage of trades come your way. Any positive information you read on the web is placed there by CTOption and should not be believed. In the end, you will lose the money you earned and the money you invested. Read the very very fine print that states you have to trade / earn 30 times the bonus amount you receive. They are experts at keeping you on the hook and enticed that "tomorrow is going to be a huge trading win for us!" It is 100% bullshit.
  • OkaneOkane Posts: 942 admin
    playtowin said:

    CTOption is a 100% total scam. All of the trades are fake, you can never get your money back out and they lie to you with every conversation. It starts out great and a strong winning percentage of trades come your way. Any positive information you read on the web is placed there by CTOption and should not be believed. In the end, you will lose the money you earned and the money you invested. Read the very very fine print that states you have to trade / earn 30 times the bonus amount you receive. They are experts at keeping you on the hook and enticed that "tomorrow is going to be a huge trading win for us!" It is 100% bullshit.

    Yes. I have reviewed many many many brokers and I can tell you, on my top worse broker's list CTOption is
    number 1.
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