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Report: #1311783

Complaint Review: CTOption - London Internet

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  • Reported By: screwed by cto — Mount Vernon Washington USA
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  • CTOption Internet United Kingdom

CTOption Scammed by Jacob Myers and CTOption London Internet

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Starting in late 2015 with one account manager, which ended in me losing everything, and restarting again in early 2016 at the behest of a second account manager, Jacob Walker Myers, posturing as a saviour of sorts, I chanced CTOption again. 

 

The first account manager is supposedly gone now, though he told me he was being promoted.  What he did was promise to match some bonus money to my investment, ensuring it would be no problem to trade off the turnover volume by the end of the year while building the account.  He was very interactive early on, and became unreachable as the year wound down and the account wound down via auto/robotic trading.  Despite requests to stop trading and despite attempts to withdraw funds, he ran the account to just about zero.

 

The second account manager, noted above, did the same thing.  After Eric Birghir and one other slowly built the account up on a bonus CTOption provided, which had to be 'paid off' before any withdrawals could be taken, Myers entered the scene promising to increase my account by over 500% in 4 weeks, and he proceeded to demonstrate live, with me watching, as he increased it over 50% in a little over an hour.  I seriously doubted he would increase it 500% in 4 weeks, but thought anything in the range of 50-100% in that time period would be awesome.  But I needed to inject a sizable sum of money to engage his services further.

 

Early on and up the the 3-4 week mark, Myers was reachable and interactive.  He had increased the account to over 100% of the invested amount in this time period, demonstrating further his trading skills.  I requested a withdrawal, with Myers approval, at this point.  Then everything changed.  He started trading heavily and losing ground.  He said I couldn't take a withdrawal because I still owed on a bonus...the turnover still had over 40k to go.  That was news to me.  He, in 2 large trades lost 25% of what he had built up, and brought the unpaid bonus turnover down to just 6k.  But he stopped there.

 

I could do nothing with this account with it frozen at this point so I traded off the remaining 6k and requested a withdrawal.  He traded massively again, losing more ground.  I asked him to not trade further until we talked.  I re-requested a withdrawal, this time for the balance remaining.  He ignored me and continued to trade this account down  to where it is now which is next to nothing.

 

The pattern is consistent with both brokers.  CTOption makes money on volume trades, of which the senior broker likely makes a commission.  You will lose everything.  The support dept, the accounts dept, the marketing dept, your broker...no one will take your calls or respond to your emails.  They take your money and use it for their own gain...you get nothing.  They are a bunch of crooks and should be shut down!

 

Their CEO, Dr Rudolph Smith, likely endorses these practices despite his 'mission' statement.  If not, he needs to address this.

This report was posted on Ripoff Report on 06/16/2016 01:49 PM and is a permanent record located here: https://www.ripoffreport.com/reports/ctoption/internet/ctoption-scammed-by-jacob-myers-and-ctoption-london-internet-1311783. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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