InnovateMarkets – Scam

Investment ForumCategory: Broker QuestionsInnovateMarkets – Scam
Roderick asked 4 years ago
Good day

I opened an account with Banc De Binary during early December 2016. Unfortunately, I had a few unsuccessful trades on my account.

I was then contacted by a gentleman by the name of Tomas from a company, Innovate Markets. He informed me that Innovate Markets work hand in hand with Banc De Binary. They take clients from Banc De Binary who are new to Binary Options and trade for them via a managed account. Innovate Markets in turn then transfer clients who have familiarised themselves with binary options back to Banc De Binary.

He advised me to open an account with Innovate Markets which they will manage and trade on behalf. He also advised that I should be able to make a withdrawal of $700 by about the 27th December. By 27 Dec 2016 there was about $1000 in the account and I requested the withdrawal. Tomas informed me that there are still open positions on the account and that the withdrawal will be processed by 04 Jan 2017. On 05 Jan 2017, I sent Tomas an email to please stop trading on the account until the withdrawal was processed. The balance at that time was still about $1000.
A lady by the name of Maria called me. She said they would sort the problem out as Tomas no longer works for the organisation. I could no longer access my account on 11 Jan 2017, my password had been changed. I requested a new password and when I eventually gained access to my account, my account balance was $7.50 after I requested them not to trade on my account and I haven’t heard from then since then.
Is Innovate Markets a regulated broker ? If so, who are they regulated with so that I may contact them to try and assist me? There was a gentlemen who posted on your forum about this company as well. His name is Mauro Paganotto. Is there anyway that I could get into contact with him ?
Anybody reading this, please stay away from Innovate Markets (innovatemarkets.com)