SecuredOptions Scam

dave asked 2 years ago

I am very surprised to say the least you don’t have this broker, Secured Options listed as a scam.

They are located in the Marshall Islands.

I have been trying to get a withdraw of 10k from them for over a week now, but each day they cancel it on me, without any reason at all. I have 11 k in there, but yet can’t withdraw 10k.

I have tried it all so far, even contact trade commissioner for there with a complaint, maybe you got an idea where next I can turn.

 

18 Answers
Best Answer
Scam Option Brokers answered 2 years ago

It is very hard to keep up with all the new “brokers” that open and close each week.
 
We instead try and focus on the real brokers that are licensed and regulated, read more here.  

Your best option is to speak with your credit card company or bank and see if they can help you recover your money.

 
You should also read the review of NovaStar, which is a “software” that works with unlicensed brokers.

Anonymous answered 2 years ago

Dave,
Do you have any update on whether SecuredOptions have managed to resolve the withdrawal problem you are facing? I actually have an account with them for 1 month now, and my trader convinced me that the management is trying to resolve all these withdrawals problems that clients are facing. I have specifically forwarded your case through my trader to their legal department, please update if your case has been successfully resolved? 

dave answered 2 years ago

actually NO  they after a month of trying each time they come up with a new excuse not to give me my money
last time excuse was Passover   then the accounting office was closed for the holidays then they say they tried to send it and my credit card company declined it said they didn\\\’t want it
after I told them I spoke to my card company they then say o wait you have trades open and I did not
then its well you have bonuses which I did not have
its a never ending excuse that has cost me a lot of stress and now I got fired from my job because of the stress I could not keep up with my work loads
its a never ending process with them so they don\\\’t return money to their clients

Tommi answered 2 years ago

On 8th April, I was directed to a Binary Trading entity SecuredOptions by signing up ignorantly with an automated trading software called CopyBuffet. Within minutes of opening and placing a deposit of $900 in the trading account, I received a call from a phone operator from SecuredOptions. As it was the weekend, the operator informed me that my account manager will be talking to me the following Monday. Sure enough, come Monday, a James C. Bennet who claimed to be the trader assigned to manage my account, rang me up.
James talked, inquired and dig deeper into my financial status and convinced me to pump in another $5,000 so that he can show me his capabilities to make money. Thus, we started this so called Account Manager/Client relationship with $8,793.50 starting fund (I traded and made some profits over the weekend).
Over the course of the next 2 weeks, James made a series of 5 trades with 100% winning streak and brought the account up to $11,358.50, bringing a handsome profit of $2,565 or 29%. At this juncture, he assisted in a $1,000 withdrawal back to my credit card which was received within 3 days, in order to prove that the withdrawal process is totally legit.
In addition he kept selling the idea of getting me into a VIP trading group, managed by a Ben James, which promises higher returns with lower risk. The minimal entry to this group is a $100,000 injection from my end. When he learned that this is beyond my financial status, somehow, he said that the company will make an exception for a valued client like me, and will allow entry with just a $50,000 injection. He managed to hypnotized me into injecting an additional $10,000 while we brainstormed along the way on how to come up with the rest of the money. At this point, my total “investment” stands at $15,900.
He threw out suggestions to garner the remaining funds, such as;

  • Borrowing money from my family members, relatives, friends or colleagues;
  • Taking up personal loans from banks or credit companies;
  • Transferring my ongoing investments and fixed deposit into the trading account;
  • Mortgaging my house;
  • Selling my car etc.

As we are exploring the possibilities along the way, he continued to execute another big winning trade and brought the account up to a nett $23358.50 (minus away the $1,000 withdrawal). At this point, I made it very clear that with my current financial status, $15,900 is the maximum I am willing to risk for the next 6 months. In addition, I will start to make regular withdrawals from the trading account. That is when things started going downhill.
The next trade that was placed after this conversation was $3,000 on GOLD. And it was a loss, ending his 100% winning streak for the past 6 trades. The account was down to $20,358.50.
We had another conversation and I made it very clear to James again, that there will be no more money going into the account from my end. Then I requested for a 2nd withdrawal of $1,000 on 4th May. The withdrawal was approved, but then the money was nowhere to be seen as of 16th May. I have requested SecuredOptions to trace this missing fund, so far there is no reply on their end.
The grand finale came on 11th May. This was after all the conversations of me not pumping any more money on my end, and the money need to starts flowing back to me. James placed a total of 4 trades at the exact same time, with 2 of them being on the same commodity. This move involved an “All-in” kind of action, total of $19,121 injection into the trade and almost emptied out the account, leaving only $237.50 balance.
Not surprising, 3 out of the 4 trades were losses. The only winning trade, which I believed happened only by chance, kept the account alive with $7,449.50.
The method of the last 5 trades has shown an unprofessional, fraudulent, manipulative and reckless trading behavior and attitude adopted by James C. Bennet. There is a black and white statement stating that all stagnant money in the account, not involved in any trades, is insured. My suspect is James C. Bennet, or SecuredOptions, is trying to get all money out of the account onto the trading floor, so that minimal money is being tied to this clause. And they are trying to get most, if not all, the money to end up as losses, so that no payout is necessary from SecuredOptions.
I have dropped a black and white email to SecuredOptions so called “Compliance Dept.”, “Accounting Dept.” and James C. Bennet to stop trading on my account immediately. Right now, I am asking to close my account and asking for a refund of $7,449.50 + $1,000 (the 2nd withdrawal which is still lost in translation). Still pending reply from SecuredOptions.
All contracts, email correspondences, deposit and withdrawal records, trading records are available for verification.
 
A warning to all:
SecuredOptions, or the so called Mr James C. Bennet, should be more accurately labelled as a scam artist rather than a trader/account manager. He/They will convince you that you have found a winning formula in making passive income. He/They will smooth talk you, connect with you, share life experiences with you to bond with you and gain your trust. He/They will give you advice on how you should take more financial risks rather than living like the rest of the world. He/They will tell you how stupid it is to keep money in the bank and earning meagre returns. He/They will gradually and gently coax you to part with whatever money you have, and even going for money that you do not have. All the while, showing that he/they is more than capable in making profits with your account.
But the moment when he/they found out that you have been completely milked dry, things will suddenly take a turn for the worse. Any successful withdrawals (if any) that you have enjoyed so far, suddenly seemed plagued with problem and money is not getting back to you. Trades placed from this moment onward, more often than not, will result in losses. You will see your account $$$ dropping drastically.
Right now, I am giving SecuredOptions the chance to clarify this matter and refund the $8,449.50 due to me. If nothing is moving after 1 week, I will resort to go through governmental and legal channels. Even if I failed to get me money back in the end, I will make sure SecuredOptions will be blacklisted and labelled as scam on as many forums and review websites as I could possible reach.

Tommi answered 2 years ago

SecuredOptions is a scam, no doubt. If you want my full story, I am more than willing to provide that, but go google SecuredOptions Scam Alert, and you should be able to see my feedback left on other review sites.
I’m going to consolidate the namelist of the victims. I will go about formulating a simple questionnaire to derive a summary of the number of affected clients and the common problems encountered. I realised many of these scammers got away with things cos the complaints are scattered. Hence I would like to take up the task of consolidating the necessary information and submitting to whatever authorities as a petition group.
Email me at [email protected] with the headings “SecuredOptions – Scam alert complaint”. Give me a couple of days to come up with something usable, then I will trouble anyone who bothered to email me to fill in the short questionnaire. I will probably take maybe a couple of weeks to consolidate the feedback before submitting to the authorities.
Spread the words around to any victims you know or post on any forums you might be on.

dave answered 2 years ago

tommi
I know how you feel I’m going thru the same bull shit they passed to me also we may never get our money back buy scolial media is the place to start and tell people about the scam they are running

dave answered 2 years ago

just to show proof
5751 16:45 14/05/16 $5000.00 Withdrawal pending cancel  Default deposit method … 
 
5750 16:45 14/05/16 $5000.00 Withdrawal pending cancel  Default deposit method …
 
5191 21:04 07/05/16 $1400.00 Withdrawal canceled
 
  Default deposit method … 
5190 21:04 07/05/16 $5023.00 Withdrawal canceled
 
  Default deposit method … 
5189 21:03 07/05/16 $5000.00 Withdrawal canceled
 
  Default deposit method … 
3835 10:39 21/04/16 $10985.00 Withdrawal canceled
 
  Default deposit method … 
3660 16:32 19/04/16 $10985.00 Withdrawal canceled
 
  Default deposit method … 
3565 15:08 18/04/16 $10000.00 Withdrawal canceled
 
  Default deposit method … 
3386 17:13 15/04/16 $10000.00 Withdrawal canceled
 
  Default deposit method … 
2346 21:45 04/04/16 $650.00 Deposit approved  Bonus 21:45 04/04/16 
2342 19:50 04/04/16 $400.00 Deposit approved  Bonus 19:50 04/04/16 
1358 17:12 21/03/16 $2500.00 Deposit approved  3D 17:12 21/03/16 
1357 17:11 21/03/16 $5000.00 Deposit approved  3D 17:11 21/03/16 
1285 22:45 20/03/16 $201.35 Deposit approved  Bonus 22:45 20/03/16 
1283 21:18 20/03/16 $250.00 Deposit approved  Credit Card 21:18 20/03/16 

Tommi answered 1 year ago

This is one of the big law firm that is currently taking legal actions against a few big and rampant binary options companies. I have attached the claim form, do go ahead and submit your details, we could possibly take this down the class action road with sufficient victims coming forward, and the legal fees might be significantly smaller than going forward alone. This will only make sense if it is done as a class action suit, the cost involved for individual suit is not worth it. And the fee should be based on commission from the recovered funds. If upfront fee is involved, then again it is not feasible.
http://www.giambronelaw.com/site/servicesforindividuals/forex-litigation-lawyers/forex-trading-scams/forex-scam-claim-form/

dave answered 1 year ago

finally I had enough of their bull shit excuses and lies
I called my bank they will look after this for me
also just so you all know they are not registered to do any trades for Canadians they have no licence period 

dave answered 1 year ago

just an update my bank took care of it over night and funds have been sent back to me