ED Magedson – Founder
GTOptionsLondon, England?? London??, Select State/Province United Kingdom
GTOptions, Adam Rivera, Peter Johnson, Pamela Hills Beware GTOptions London UK
I am brand new to the binary options scene, but thought I'd try a couple of the groups I'd been solicited by - enter GTOptions. I deposited $500 to begin with, but could not get the software to download, nor any answers regarding the software and company that originally solicited my business. Instead, I was then hounded to deposit more with two huge promises and "guarantees". These initial promises were from a Mr. Adam Rivera, my account broker. First promise - If I only deposited a few thousand more, I would receive the "No Loss Guarantee" from GTOptions. Mr. Rivera repeatedly stated "why don't you increase your account, since we are taking all the risk and you cannot lose any money".
Secondly, I was promised 100% bonus and the 150% bonus, which actually showed in my account for a day or two, but that's when the wheels came off. On 1/27/14 & 1/28/14, Mr. Rivera traded 39 times, mostly in $600 increments. Of course, he lost about 80% of the trades over those two days of trading! I know, I know, what the heck was I thinking... But, remember - "I couldn't lose any of my own money", or so I was promised (we'll see). When I asked for my money back, they told me "I didn't have enough trading volume in my account to withdraw profits yet". What the...???
I repeated their promises and guarantee that I could lose no money (which I've also found, for a broker to "guarantee" in this manner is simply illegal). That's when all the real nonsense escalated. Long story short (too late), there is no phone number or extension that is answered by a live person - every call, at every extension goes to voicemail. When I checked these unknowns out with another reputable brokerage firm, they said GTOptions appears to be operating out of Gibraltar, or some other odd jurisdiction (NOT London as I was told) and everyone I've been able to talk to at GTOptions has had a heavy accent - West African if I were to guess.
Here are the people I've talked to and THANK GOODNESS I've recorded all my conversations with these guys. Ms. Pamela Hills, who asked for more docs, but refused to answer repeated questions about GTOptions. Mr. Peter Johnson, who just yesterday (2/12/14) asked for $4000 more! Yes, this guy actually told me he could get all my money back if I would just deposit $4000 more - unbelievable! Adam Rivera, who refuses to return 2 weeks of phone messages...
Oh yeah, in that same conversation yesterday with Peter Johnson, I asked to speak with his boss or supervisor. He danced around the question, but I persisted. He finally said his boss's name was John Duane (sp?). I asked what his position was and to speak with him. Wow, you should have heard the nonsense from this guy. His story literally changed 180 Peter said his own position was with the accounting dept., and that he, himself was an accountant. He then said he wasn't with the accounting dept., so he couldn't help me with my withdrawal request and again – “why don’t you deposit more money and we can get you a Silver Account”.
I went back and forth with this guy for another 10 minutes, then again asked to speak with his boss. “He’s not available, he’s the head of the company, and I’m the one you need to be speaking with…” When I asked for his number and how to spell his name, Peter Johnson said to me – “you don’t know how to spell his name? No, of course not, why would I be asking if I knew?” Johnson then repeated the same bizarre question three times! When he realized I wasn’t going to let it go, he said OK, here’s how you spell his name, D…(click). Yep, he hung up.
Folks, this is no exaggeration, to the contrary. This is only a fraction of the nonsense I’ve got from this “broker”. What a nightmare. There's more - when I logged in yesterday, I thought I’d try the Live Chat option to see if I could reach someone. After asking how I might reach someone by telephone, I was given the same old story of calling their main number. I had to raise a big stink the whole process took over an hour, but they finally called me. I took over 45 minutes and two chat boxes to finally get someone to call me (Peter Johnson and that fiasco).
The other, and last issue worth mentioning is when I asked for my funds back. When I started getting the run around about withdrawing all of my “guaranteed principal amount”, I put in a withdrawal request for just a part of my funds. Someone actually (and arbitrarily) cancelled my request without my permission. When I questioned their support dept., I got a story that I had to trade 15 or 30 times volume before withdrawing “profits”. I said profits! What profits! At this rate, all the funds would be gone in one more day of trading (if I were crazy enough to trade with them again) before I ever came close to 15-30 trade volume! I just wanted my principal amount back, or even a small part of my principal “before they lost all of it”! And, that’s where I’m at now. I’ve requested $2000 of my $6000 principal amount to be withdrawn a second time and the request was again cancelled.
In spite of GTOptions, I’m not totally discouraged, or jaded. I am having success with two other groups and their recommended brokers – one is doing fairly well and the other doing quite well. The latter group is an absolute pleasure to deal with. They answered all questions up-front and promptly, BEFORE I ever opened an account! They are available live and in several formats, they have a good relationship between the private trade group and the broker and most importantly - when I withdraw funds, I get them back immediately, NO QUESTIONS ASKED AND NO ARBITRARY CANCELLATIONS. I don’t have to wait weeks, or even days to receive credit back to my account. Night and day difference between them and GTOptions.
In conclusion, GTOptions is dishonest, incompetent and not to be trusted in any respect. In fact, after the blatant lies and deceit I believe GTOptions is a scam from the get-go.
This report was posted on Ripoff Report on 02/15/2014 05:18 AM and is a permanent record located here: http://www.ripoffreport.com/r/GTOptions/London-Select-StateProvince/GTOptions-Adam-Rivera-Peter-Johnson-Pamela-Hills-Beware-GTOptions-London-UK-1123735. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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