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  • Report: #915506

Complaint Review: Option World

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  • Submitted: Sat, July 21, 2012
  • Updated: Wed, December 12, 2012

  • Reported By: Carrie — Towaco New Jersey U.S.A.
Option World
Option-world.com Internet United States of America

Option World Binary Options Xposed I first came across Binary Options Xposed while looking for a good signal service. They were offering a month of free signals with a trading system include if you opened a $2500 account with their pr Internet, Internet

*Author of original report: IT IS UP TP YOU

*Author of original report: UPDATE

*General Comment: Turnover Requirement

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I first came across Binary Options Xposed while looking for a good signal service. They were offering a month of free signals with a trading system include if you opened a $2500 account with their preferred broker Option World. So I did. Only problem was
that I paid the $2500 to Binary Option Xposed instead of opening the account with Option World. To fix this, I opened a $100.00 account with Option World, and Binary Options Xposed deposited into that account the $2500 I had paid them.  Another interesting fact is that Option Worlds CEO Kristian Jacobs is the person who personally facilitated the transfer of my funds from Binary Options Xposed into the Option World Account.

Both of these companies are clearly connected and run by the same individuals.  When I first logged onto my account after the funds had been deposited I noticed the balance was much higher that I had deposited. I then found out that I had been given a 50% bonus. Apparently many binary Options brokers do this.  About two or three weeks later I was unhappy with the signal service which I seemed to always get just late enough to not be able to get in on a trade at the number being recommended by
the service to get in on. In addition he trading platform at Option world did not have the correct GMT times for expiries or even at the top of the website for the actual time GMT time. I contacted Option World to no avail, and decided that it was time to move on to a better trading platform and a better signal service or education.  I requested to withdraw and liquidate my account and the people at Option World were very rude, and unprofessional. They told me that I could not withdraw my money because when the account was opened/money deposited I received a "promotional" bonus and their terms and conditions for withdrawal of funds is;  "In order to withdraw,you are required to have executed a minimum amount of 30 trades for every dollar of the bonus that had been put into your account. The bonus can only be withdrawn when the preceding stipulation has been fully met and fulfilled.

The withdrawal of funds from an account cannot be completed until the bonus conditions have been satisfied." Since my total deposit came to $2600.00 they gave me a $1300 bonus added to my account. Now this means that in order to withdraw $1.00 from my account which means I will have to have made 39,000 trades before being allowed to withdraw any monies. To begin with I do not want the bonus I only want the money I deposited less any money I may have lost on any bad trades. I told them this and they laughed at me. One of the main reasons why I wanted to move my money is their trading platform does not even have the correct expiry times which makes it impossible to make winning trades. I tried to speak to them about this issue to and they refused to help. I really think that Binary Options Xposed an Option World, both of which I found is operated and owned by the same people and entity, are just a scam to get your money so they can invoke this crazy bonus rule. The entity that owns both of these companies name is Charge XP Investments Ltd. Located in Cypress.  I never agreed to a bonus, and though they have no proof of agreement, they told me that I will never see my money again.  I have also found that the Entity that owns and operates Option World and Binary Options Xposed operates online casinos. These two Companies are nothing more criminal enterprises to separate you from your money. I also found that many other Binary Option websites are also owner by this company; Charge XP Investments. Be very careful when considering a Binary Options trader!!!

Option World and its CEO Kristian  Jacobs (who I have contacted via email as well as Facebook), has set everything up to make sure whoevers' money they get is bound to fail either by making bad trades (due to the time issues on their trading Platform), and running out their account, or being destined like myself to making 39,000 trades (which equals 325 trades a month for a year or to break it down further you would have to make a minimum of 16 trades a day trading 5 days a week) before you could ever make a withdrawal. I just don't think this is right. Had I known these conditions I would have never accepted the bonus or
opened an account with this company.

Do yourself a favor STAY AWAY from Option World, Binary Options Exposed and Kristian Jacobs. Fraud, fraud FRAUD!! You will never see your money again!! Binary Options Xsposed, Option World, Krstian Jacobs (CEO of Option World) and Charge XP Investments in Cypress are all a fraud. They stole $2500.00 from me and are under investigation by the SEC.

This report was posted on Ripoff Report on 07/21/2012 04:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/Option-World/internet/Option-World-Binary-Options-Xposed-I-first-came-across-Binary-Options-Xposed-while-looki-915506. 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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REBUTTALS & REPLIES:
2Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

IT IS UP TP YOU

AUTHOR: Phoenix - ()

 All I can do is tell you my story. Why would I continue to spend my time trading a platform I already have issues with-incorrect Expiry times, and make any additional monies to my account knowing full well that in the end I will never be able to withdraw any of it anyway?? Put "Option World and or Binary Options Xposed", and the word "scam" in your Google search bar and read what come s up. I am not here to spend time convincing anyone of anything. I thought I would go out of my way and share my experience to warn others of the high probability of their loosing their hard-earned money if they do business with Kristian Jacobs and or any of his businesses. It is up to you-take a chance-loose your money-It is all up to you!!
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#2 Author of original report

UPDATE

AUTHOR: Phoenix - ()

Attention All persons who have been scammed by Kristian Jacobs owner/operator of Option World, Binary Options Xposed etcetera.

Many of you have deposited monies with his organizations and have not received a penny back(pretty much par for the course with this despicable man)Well some enterprising brave soul has seen fit to put up a website; Kristian Jacobs.net
The sole purpose of this website is for all persons scammed by Mr. Jacobs who can tell their stories on this site in order to warn all those who may consider one of his companies; binary Options Xposed, or Option World or, KRISWORLD
ENTERTAINMENT for any business dealings. If you Google Kristian Jacobs this is the second website that will come up under Kristian Jacobs.com. This is Great Xsposure to put this evil thief on blast so everyone knows NOT TO DO BUSINESS with this
man!!!
If you would like to add fuel to the fire; go to Kristian Jacobs.net and add your story to the website. Lets put Kristian OUT OF BUSINESS, and put all other scammers on notice that this will no longer be tolerated!!! If you steal peoples money-WE WILL CALL YOU OUT!!
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#3 General Comment

Turnover Requirement

AUTHOR: Watchman - (United Kingdom)

Hi just a quick comment. I don't know if you were exactly ripped off or not--I can't tell. But regarding the wagering requirement: you do not have to make 39,000 trades. You have to do $39,000 worth of trades. So if you're doing $100 trades this is only 390 trades etc. turnover of 39,000usd can happen fairly quickly (not one year long).

Did binary options xposed try to sell you on an Auto Trader system? This I've heard could be a scam and that's why I'm researching whether or not they are a scam as my brother recently signed up with them and I want to protect his interests. Please let me know. Thanks.
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