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I now have a clear idea of how 72option scam their unsuspecting customers and often rob them of their life savings, heartlessly crushing their financial goals and mocking their naive and misplaced trust. The insurance cover purported to cover lost trades is a deadly trap to financial oblivion. Investors are put into massive losing trades that serve to build up massive cover, to such an extent that the average investor can never recover - for every dollar bonus or cover they gave, you must trade 25 or 15 times the amount, like digging a hole that keeps getting bigger and deeper until you can't get out, and lose all your funds.
For those who managed to dig themselves out, there's more in store for them I was recently retired and was seeking alternative means to gaining income. David also advised that I should not take on margin and that lost trades would be covered by insurance. By the term 'insurance cover', I was under the impression that the brokerage had paid a premium to cover lost trades and that losses would be covered under normal insurance policy terms.
Moreover, they were called "risk free agreements" and I was lured into a false sense of security. I was puzzled though when I was sent bonus agreements for lost trades stipulating mandatory turnover volume of x15 every time a trade was lost.
I queried the implication of this but never had a reply. As the volume covered remained relatively low, I let my queries rest and passed them off as the level of cover provided. In Januaryright after I have transferred the euro 20, David suddenly left for "personal reasons" and I was passed on to account manager Richard Johnson.
The first comment that Richard made was that he handles large accounts with millions of dollars and doesn't understand why my account was transferred to him. I later realised that the insurance cover was, in fact, much lower at 39, after I discovered the factor for calculation at a later date.
David was, by all appearance, cautious and skillful and was balancing the trades carefully to ensure that there was no excess cover. I was on course to achieving my financial goals.
When Richard took over my account, the insurance cover jumped toin just 2 sessions of trade. At the time, I was still under the impression that these were covered by insurance and have no idea of the scam that was unfolding.
I was piled with bonus agreements at 25x and risk free agreements at 15x to prop up my account with no clear idea of the implications. It was now March end, my account continues to show a healthy balance and I was looking forward to withdrawal. After all, the published Agreement did say that what is credited into the balance account cannot be taken away.
At the start of April, I began to pester Richard about my withdrawal, worrying about delays. He retorted that I have not achieved the cover volume to qualify, and that it binary option multiplier 90 top 10 binary options brokers worldwide be difficult to release funds. I also asked for a detailed statement of my account to fully understand my account position. Despite repeated requests, this was ignored.
I started to chase for the accounts statement earnestly in order to understand fully what my volume requirements are before withdrawal can be exercised. I know it was high given the massive lost trades but my request continues to be ignored. In the meantime, Richard introduced me to ladder trading, no doubt thinking that this would speed up my financial demise.
However, it was couched to me as a special facility provided through their banking relationships with only one to two guided trading sessions a week. There is, of course, insurance cover for all lost trades. The minimum threshold for this facility is investment funds of euro 50, I argued against this as by now, I have used up all personal funds and credit card.
I borrowed the for transfer, and had one brief guided binary option multiplier 90 top 10 binary options brokers worldwide on how to do ladder trades.
I was also advised that I have euro 6, per day for insurance cover. It was 2 weeks before I was granted the facility to ladder trade, the time for withdrawal was fast approaching and I have to cover the trade volume of almost euro 2 million, I thought, to enable funds to be released.
Without the accounts statement, I was simply multiplying up all the insurance cover that had been provided at x25 and x15 to calculate the trade volume required. Binary option multiplier 90 top 10 binary options brokers worldwide the time, I had euro in my account, euro 25, were put into guided trades. I have to stop on the 4th day as I have exhausted my balance account to euro 10, and the request for transfeer of the euro per day insurance cover was repeatedly ignored.
Meanwhile, Richard had gone on a tour of Hong Kong and Japan and I skyped him to approve the transfer of euro 10, He agreed at euro and advised that he will direct his office to do so. This was one week before the planned withdrawal date when I have to make loan and credit card repayments. A few days later after my skype with Richard, I was contacted by Alan Osborne who introduced himself as standing in for Richard in his absence.
Alan advised that there will be no withdrawal of funds, binary option multiplier 90 top 10 binary options brokers worldwide the euro indicated by Richard "was lost in translation". However, they would transfer 'credit' of euro into my account to enable me to continue trading!
Richard also advised that he was from the "recovery team" and wants to "help" me reduce my turnover so I can make withdrawals. To facilitate this, I will need to inject a further investment of euro to take the existing trades to x1 of insurance cover instead of the existing x15 and that this will enable me to withdraw funds.
He explained that they were able to do this as I have no binary option multiplier 90 top 10 binary options brokers worldwide insurance cover. As this appears to be reasonable, I agreed to his proposal but remained puzzled, If I have no more insurance cover on my account it means that I have traded sufficient volume and met the requirement for withdrawal. I went on to ask him for the ratio of investment funds against level of cover provided, in other words, what is the level of funds existing in order to generate what level of insurance cover, and hence, the turnover required.
This does not provide the ratio I was seeking but it does tell me that the trade volume required is vastly different from my own calculation of euro 1.
I then asked Alan why then did they denied my withdrawal request since I have fully met the required volume. There was no answer. I then found through the internet, copy of a standard insurance cover agreement for clients of a brokerage firm. It shows the insurance volume to be calculated at staggered rates for different levels of account. Once the ratio is known, it's simple calculation to deduce what the actual trade volume requirement is.
For me, this amounts to euro 24, of investment funds. Use this to to mutiply x25 binary option multiplier 90 top 10 binary options brokers worldwide x15 binary option multiplier 90 top 10 binary options brokers worldwide the case may be and you get the volume requirement.
My volume requirement stands at eurocomprising of both x25 and x15 agreements, yet the scammers have calculated all trades at x25 to bump it up. The larger portion is x15 but I am simply giving an estimate. My actual turnover is euroand I have, therefore, amply met with the volume requirement for all expired and existing trades. You divide the volume attained by either 25 or 15 and the fund value is known.
Mine stands at estimated euro 15, My account is, therefore, fully cleared of insurance cover and trade volume requirements for all expired and existing trades. I am entitled to withdraw funds of euro 10, as recently requested, with no existing insurance cover.
The euro per day is also part of my volume validation. To demand another investment of euro and provide 'credit' of to 'enable' withdrawal are simply lies to extort funds.
There continue to be live trades in my account amounting to euro 27, and euro 18, funds that have not been credited to account. This, of course, has been ignored. I hope that by sharing this experience, you will become fully aware of the ruthless scam tactics that 72option employ and stay clear of these fraudsters! Skip to main content. What can I say? Thank you for warning me.
Thu, 27 Jul Log in or register to post comments. I am scammed by 72Option for big sum of money. Mon, 05 Mar
Het minimale handels bedrag varieert soms van 1 USD tot 25 USD. Deze transacties worden over het algemeen aangeboden in het kader van sociale handel door specifieke tussenhandelaren. Dus iedereen kan doen alsof hij een expert is en een show zijn handel met anderen.