Lots of scams, seems like the same motto: drain your account; CTOption first then Tradorax

I think these scam brokerage firms should be regulated and these companies should be held liable. I deposited $500 with CTOption and after I submitted the documents I requested the withdrawal of the $500, twice. Got an email saying that it will take 7 business days, twice.... Then, they connected my account to an automatic trader and lost all but $18. Today I looked at the account and even the $18 is gone.... I placed no trades whatsoever. I just wanted to close it the moment I opened it.

I did not login to Tradorax, another scam broker, account for a while.... I am looking at it, instead of $492 I have $9.50... Thus, once you put any money in they will make sure they will empty it.

There is another scam broker, GlenRidgeCapital where I invested $25K. Since I am not going to put more money in, they want $75K more, they told me that they will make sure I will lose the $25K. The strike price is manipulated to the point that almost no trades can be won. When they demo the trades to make you put money in they cheat by changing the price in their favor, again the ask price is not even found on the candles. They "expand" their range so they will NEVER lose. Now, they "contract" my range so I will almost NEVER win.

How can this be allowed? I will file some complaints, but I know that all my money was and will be stolen... I do not think I did anything wrong. I think they are allowed to steal people's money.

Comments

  • arif9m9arif9m9 Posts: 33
    How much money did you lose in total?
  • OkaneOkane Posts: 1,279 admin
    CTOption again, why am I not surprised...
    Sorry to hear that. Are you based in US?
  • donnadonna Posts: 1
    CTOption scammed me out of 500 also. Immediate autotrade, then totally ignores you. Beware of binary-tools.org as well.
    Their "account management" wiped out my 400 in 4 trades. Martingale nightmare. All scams
  • OkaneOkane Posts: 1,279 admin
    donna said:

    CTOption scammed me out of 500 also. Immediate autotrade, then totally ignores you. Beware of binary-tools.org as well.
    Their "account management" wiped out my 400 in 4 trades. Martingale nightmare. All scams

    Yeah, this is the third person I am hearing from this week.
  • paveljablonpaveljablon Posts: 132
    That sounds dubious. CT Option had an above average reputation. To see them resort to these sad tactics is very bad. I can only think of a handful of good brokers now and I blame spot option for a lot of the problems in this industry.
    Transparent Binary Options trader and former floor trader. Now giving signals to help people safely to make money at Signal Hive Please do not contact me to manage your account, I will never take anyone's money. You can see my live performance on Signal Hive and subscribe to me there.
  • The_Geek_MHThe_Geek_MH Posts: 675 mod
    you got to watch out for dormant account fees too,... most times if you are not ACTIVELY trading they will start to drain your account with inactivity fees.
  • paveljablonpaveljablon Posts: 132
    Good point!
    Transparent Binary Options trader and former floor trader. Now giving signals to help people safely to make money at Signal Hive Please do not contact me to manage your account, I will never take anyone's money. You can see my live performance on Signal Hive and subscribe to me there.
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