Whom to complain to when they won't give you your money back?

K

kefalo

I have some money with a trading broker company that I've been trying to withdraw for months now, literally.

* It started with long talks from my account manager convincing me not do it:"But you are doing so well, why would you want to take the money out, I am trying to understand...."
*It went on with my withdrawal request simply not being processed
*Then seeing the requests canceled
*Now my request is just pending after dozens of phone calls

Finally when enough was enough and I told my manager that I was an internet marketer and that it's very easy for me to start a few websites talking about what a scam they were. It's only then when he started listening and calling me back almost every day but still I HAVE NOT BEEN PAID a cent.

Finding info on whom to complain to is my last step.

Then I will really do it. I'll make the websites talking about my experience and then rank it for some nice option trading keywords. Already did my research and found at least a dozen I can rank for in top 3 in Google within months, no doubt about that (total monthly search volume of the keywords well over 20k).

It's not big money and that's not the only point. I believe in moving towards a clean web one step at a time and getting rid of the scammers. If they're not going to give me my money, I will stop at nothing until it costs them 100 times as much in lost chances and until honest people can avoid what's happening to me.
 
Is there a reason why you're not divulging the name of the firm, the account manager, etc.?

Also, you mentioned bringing this to the attention of your account manager, but I'm sure there are principals in the firm who are higher up than him. So have you contacted any of those people?
 
kefalo said:
I have some money with a trading broker company that I've been trying to withdraw for months now, literally.

* It started with long talks from my account manager convincing me not do it:"But you are doing so well, why would you want to take the money out, I am trying to understand...."
*It went on with my withdrawal request simply not being processed
*Then seeing the requests canceled
*Now my request is just pending after dozens of phone calls

Finally when enough was enough and I told my manager that I was an internet marketer and that it's very easy for me to start a few websites talking about what a scam they were. It's only then when he started listening and calling me back almost every day but still I HAVE NOT BEEN PAID a cent.

Finding info on whom to complain to is my last step.

Then I will really do it. I'll make the websites talking about my experience and then rank it for some nice option trading keywords. Already did my research and found at least a dozen I can rank for in top 3 in Google within months, no doubt about that (total monthly search volume of the keywords well over 20k).

It's not big money and that's not the only point. I believe in moving towards a clean web one step at a time and getting rid of the scammers. If they're not going to give me my money, I will stop at nothing until it costs them 100 times as much in lost chances and until honest people can avoid what's happening to me.
More...

Trading broker company is broad by definition. What sort of broker is it? Equity broker, futures broker, CFD broker, FX Broker? Depending on what financial instrument it is, you will have different opportunities to address your problem.

Different regulatory bodies may be competent.

CFTC enforcement : http://www.cftc.gov/Contact/index.htm

SEC enforcement: http://www.sec.gov/complaint.shtml

NFA : https://www.nfa.futures.org/NFA-compliance/contact-us.HTML

(personally, I would never contact the NFA - they are part of the "Chicago Gang". The NFA would never harm one of their own member firms, IMO).

Besides, you should be VERY CAREFUL with creating websites about your "bad experience". Websites ARE LEGALLY NOT THE RIGHT PLACE for sorting out problems with your "broker". Quite to the contrary - the company in question could make you responsible for defamation and slander (while it is "en vogue" to do harm to competitors).

Of course, all of my writing is not legal advice.:cool:
 
It's an option trading company. I'm probably all over the place with the terms I use, sorry for that, I just started looking into this a few months ago and was only actively doing it for a few weeks.

I didn't share the name because I wasn't sure about the rules of the forum.

It's OptionRally, the phone on their website is in New Zealand, the address in Hong Kong and my account manager (also chief trading officer) in Switzerland. Last time I called the guy I got a message that the number is disconnected "because of suspected fraudulent activities"...

As I am writing this I am realizing that it kind of sounds like I was asking for it by not checking all of the above. But before I started trading with them, I did a bit of research and saw no red flags...

I did make money (4 times over my investment) but it wasn't because of my account manager and his great advice or because of my skill or knowledge. It was luck. And pretty soon I realized that it's not for me. It would call for too much of time that I don't have and I am really more into creating passive income streams.

So, anyway, who would you guys contact in the scenario?

Thanks for the help
 
Visaria said:
Why don't you just open an account at a legit broker and make 4x your money again?
More...

Maybe the reason why he's not able to open a new account with someone else is because OptionRally has his money. :eek:
 
wrbtrader said:
Maybe the reason why he's not able to open a new account with someone else is because OptionRally has his money. :eek:
More...

right on the money :)

and as I said:
1) I want to stop trading
2) me making 4x investment was luck, not skill or knowledge
 
kefalo said:
It's an option trading company. I'm probably all over the place with the terms I use, sorry for that, I just started looking into this a few months ago and was only actively doing it for a few weeks.

I didn't share the name because I wasn't sure about the rules of the forum.

It's OptionRally, the phone on their website is in New Zealand, the address in Hong Kong and my account manager (also chief trading officer) in Switzerland. Last time I called the guy I got a message that the number is disconnected "because of suspected fraudulent activities"...

As I am writing this I am realizing that it kind of sounds like I was asking for it by not checking all of the above. But before I started trading with them, I did a bit of research and saw no red flags...

I did make money (4 times over my investment) but it wasn't because of my account manager and his great advice or because of my skill or knowledge. It was luck. And pretty soon I realized that it's not for me. It would call for too much of time that I don't have and I am really more into creating passive income streams.

So, anyway, who would you guys contact in the scenario?

Thanks for the help
More...

This gives you several opportunities to involve regulatory bodies:

SFC in Hong Kong (you bet this company did not have a license in Hong Kong as base capital requirements for futures/options brokers are extremely high). Wbsite of SFC:

http://www.sfc.hk/web/EN/regulatory-functions/enforcement/disciplinary-proceedings.html

Actually, you can contact this person at SFC directly:

rxwang@sfc.hk (Rebecca Wang, Enforcement, Securities and Futures Committe)

FINMA in Switzerland (you pray that you are not bullsh..tting in Switzerland). They make you pay for every single USD you defrauded from any investor. They appoint "investigative agents" - and believe me - they will find your Swiss "account manager". FINMA is charging all costs with any investigation to the offender.

Enforcement site of FINMA: http://www.finma.ch/e/sanktionen/vorsorgliche-massnahmen/Pages/einsatz-untersuchungsbeauftragte.aspx

Email: questions@finma.ch
 
kefalo said:
I have some money with a trading broker company that I've been trying to withdraw for months now, literally.

* It started with long talks from my account manager convincing me not do it:"But you are doing so well, why would you want to take the money out, I am trying to understand...."
*It went on with my withdrawal request simply not being processed
*Then seeing the requests canceled
*Now my request is just pending after dozens of phone calls

Finally when enough was enough and I told my manager that I was an internet marketer and that it's very easy for me to start a few websites talking about what a scam they were. It's only then when he started listening and calling me back almost every day but still I HAVE NOT BEEN PAID a cent.

Finding info on whom to complain to is my last step.

Then I will really do it. I'll make the websites talking about my experience and then rank it for some nice option trading keywords. Already did my research and found at least a dozen I can rank for in top 3 in Google within months, no doubt about that (total monthly search volume of the keywords well over 20k).

It's not big money and that's not the only point. I believe in moving towards a clean web one step at a time and getting rid of the scammers. If they're not going to give me my money, I will stop at nothing until it costs them 100 times as much in lost chances and until honest people can avoid what's happening to me.
More...

Tell your story here and then tell them you will take it off when you get your money:

http://www.ripoffreport.com/
 
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