Why RBOptions is asking me increase my balance over and over again?

affecmaffecm Posts: 2
edited October 2014 in Beginners Questions
Hi all... It's Kike from Spain and I'm a newbee in binary options. Recently I opened an account in RBOptions with €250. In the next day I received a call of a trader telling how to earn profits and offering me his support to make profitable trades. The condition was to add new balance until €1000 to make trades and I did. I only received one trade opportunity in the next day but no more during the rest of the week. Yesterday I received another call of the company broker offering high trades of €1500 with profits of €1125, and even €2500 with €1900 of profits each trade. He asked to add new funds until balance €2500 once again. In addition he attached some screenshots with winner trades and they were awesome. I was telling to use the current balance due to we didn't make trades yet. The reply was that he has high objetives and I need increase my balance. I think it's a high risk due to we have not start to work yet and I have a small account to make that kind of trades. I proposed to make smaller trades and reinvest profits, but it looks that they are not interested to work on that way.
Is this a common practice? Must I trust in this kind of proposal?
Thanks for your support and good trades! :)

Comments

  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited October 2014
    One of the RULES I have for a new trader to avoid the PITFALLS in binary options is #1 "NEVER ALLOW A BROKER TO TRADE FOR YOU!" just say NO!!! as the brokers have a built in conflict of interest right = they profit when you lose.. Anybody who uses leverage of over 5% on any one trade is a MORON looking to blow an account... So next time the guy calls tell him that LotzofBotz told you to let him know to "FOOK OFF!"
  • affecmaffecm Posts: 2
    Thank for your quick reply lotzofbotz... ;)
  • LokatzinLokatzin Posts: 10
    Hi lotzfbotz

    I opened an account with a binary comapny and they have given me bonus without asking me first. They just add it to my account. Now I want to withdraw my money and they won't let me.
  • OkaneOkane Posts: 1,279 admin
    Lokatzin said:

    Hi lotzfbotz

    I opened an account with a binary comapny and they have given me bonus without asking me first. They just add it to my account. Now I want to withdraw my money and they won't let me.

    Which company? Some have a time limit on their bonuses. But I suppose you opened an account with an unregulated bucket-shop?
  • LokatzinLokatzin Posts: 10
    Okane said:

    Lokatzin said:

    Hi lotzfbotz

    I opened an account with a binary comapny and they have given me bonus without asking me first. They just add it to my account. Now I want to withdraw my money and they won't let me.

    Which company? Some have a time limit on their bonuses. But I suppose you opened an account with an unregulated bucket-shop?
    RBoptions. 1500eur and they won't allow me to withdraw :(
  • LokatzinLokatzin Posts: 10
    Is there any actions I can take?
  • OkaneOkane Posts: 1,279 admin
    Lokatzin said:

    Is there any actions I can take?

    You should ask them to cancel your bonus and pay back the money. Link them to this forum, this is not a good behavior.
    But overall they are not a regulated broker and unfortunately this is what happens when you deposit with a bucketshop.
  • LokatzinLokatzin Posts: 10
    Okane said:

    Lokatzin said:

    Is there any actions I can take?

    You should ask them to cancel your bonus and pay back the money. Link them to this forum, this is not a good behavior.
    But overall they are not a regulated broker and unfortunately this is what happens when you deposit with a bucketshop.
    Thank you Okane. I will send them an email to cancel my bonus. How do I link them here?
  • OkaneOkane Posts: 1,279 admin
    include it in the email.
  • LokatzinLokatzin Posts: 10
    Hi Okane

    I have sent them numerous emails about cancelling my bonus and they hide behind the paper I have signed. I know I make a mistake and probably I will not take my money :(

    Answer 1
    "Dear Customer

    Please notice that you have a bonus, in order to make any withdrawal request you need to reach the trading volume that you agreed once you gout the bonus.


    Best Regards,


    Nathan Lorie"

    Answer 2
    "Dear Customer,

    Thank you for contacting the RBOptions Support Department.

    After reviewing your account It as come to our attention you have signed a Bonus Agreement.

    In order to withdraw you need to reach your trading volume and since you did not reach the required trade volume yet. Please note that Trade volume and Account balance are not the same. The trade volume is the sum of all your investments including the once you have lost.

    The trade volume you have to accumulate is (Client's Deposits+Bonus) x 20, as stated on the "Terms and Conditions" of the bonus you received and signed.

    For example: (500+500)x 20 = 20 000

    If you require any further assistance please contact your broker.

    In addition , you will need to complete your verification process along with compliance department.
    You are able to reply back to this Email and we will fast forward your process.

    Wishing you the best trading experience.

    Regards,
    Emma Hudson

    Answer 3
    "Dear Customer,

    Thank you for contacting us.

    In order to receive the bonus you will need to sign the bonus agreement.
    Signing the bonus agreement and signing the terms & conditions means that you agree for the bonus.
    If you have not agreed for the bonus, you would have not received the bonus.

    If you have any further questions please do not hestitate to contact us.
    Regards,
    Shelly White

    Answer 4
    "Dear Customer

    Please notice that you agreed to the terms and conditions of the bonus, in order to make any withdrawal requests you will need to the turnover that you agreed once you took the bonus.


    Best Regards,

    Nathan Lorie"
  • renar_foxrenar_fox Posts: 20
    It seems that you are stuck with their turnover, which is massive by the way. Don't think that there are a lot of traders who can do it.

    The fact that they have added the bonus to your balance without informing you about it is outrageous though. There can be a chance that you have accepted it in one of agreements without reading it until the end and that's normal, as no one reads it. The problem is that we will keep doing it until we got screwed and that's what happened.

    According to the letters, there is absolutely no possibility to cancel it, is that right? They have to give back your deposit to you at least, even if you have not reached that huge turnover. By the way, have you dealt with the verification process? Are you verified now? Cause they won't process your request without it either.
  • LokatzinLokatzin Posts: 10
    Hi renar_fox

    No they have not verified my account yet even though I have sent many times what they asked. No they will not cancel the bonus :(. As you can see
    each reply comes from various people. I do not know what else to do.
  • BryanMacBryanMac Posts: 851 ✭✭✭
    How did you deposit? By what means?
    Bryan Mcafee
    Hit me up on skype at Brymcafee (McAllen TX)
    www.tradingaxis.com
  • LokatzinLokatzin Posts: 10
    By credit card
  • LokatzinLokatzin Posts: 10
    I know I might not get back my money but I am thinking of opening a case against them at Forex Peace Army and share my experience with them.
  • OkaneOkane Posts: 1,279 admin
    Lokatzin said:

    I know I might not get back my money but I am thinking of opening a case against them at Forex Peace Army and share my experience with them.

    Worth a try man!
  • LokatzinLokatzin Posts: 10
    They do not approve my withdrawal request. Those are the responses I get. I do not know what else to do
  • ronstraderonstrade Posts: 3
    To everybody out there.. Never pay with your credit card online. It is getting more and more dangerous.

    Especially places like Brokers. You have to verify your person. Now you gave them all your personal information. If they now have your card or banking detail they have everything of you.

    That is the reason there are Online Wallets. Only use Wallets, or Payment Processors like PayPal, Skrill, Payza, there are many of them. The person receiving your money never have any personal banking detail.

    I have heard there are many people that lost money with brokers that just keep debiting money from their cards.
  • OkaneOkane Posts: 1,279 admin
    ronstrade said:

    To everybody out there.. Never pay with your credit card online. It is getting more and more dangerous.

    Especially places like Brokers. You have to verify your person. Now you gave them all your personal information. If they now have your card or banking detail they have everything of you.

    That is the reason there are Online Wallets. Only use Wallets, or Payment Processors like PayPal, Skrill, Payza, there are many of them. The person receiving your money never have any personal banking detail.

    I have heard there are many people that lost money with brokers that just keep debiting money from their cards.

    It's a good strategy. I use Skrill and they process transactions really fast.
  • LokatzinLokatzin Posts: 10
    Shall I open a case with Forex Peace Army against them? Will it help me to get my money back?
  • OkaneOkane Posts: 1,279 admin
    Lokatzin said:

    Shall I open a case with Forex Peace Army against them? Will it help me to get my money back?

    If they care about their reputation they might see that your issue is solved. Why not open a case, I mean it won't take much of your time. What's the harm?
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