500option is a Scam

Investment ForumCategory: Broker Questions500option is a Scam
Dan asked 5 years ago
I transferred some first funds into my 500option account on the 27/11/2015 and it was £750. Idea behind was to make some additional income and stop doing some much overtime. I read reviews online about 500option, which were good and definitely stating that it’s NOT a scam. By the way it still says that on many sites.

My first account manager was Evan Bennett, even had some educational sessions with him. He was very quickly changed to Alex Cooper (real surname Bielik). We communicated a lot through Skype. He convinced me to make a Risk Free Trade. He even said that he got permission from his CEO to increase it for me from £5k to £10k.

Overall I opened £7k worth of Risk Free Trades. Most of it ended up out of money, anyways they credited my account very promptly with a refund. At that point they also presented me with T&C for risk free trades stating that the volume required to trade before I can make a withdrawal is 20x (20×7000=140000). At that point I thought I’m going to blow up. Thinking to myself how I’m going to trade such volume, with a full time job it will take me ages (credit card fees going to destroy me).

At that point Alex Cooper convinced me to open managed account if I transfer additional £5k to my 500option account. Foolishly enough I did. He actually done a very good job trading with my funds for two weeks. My account grew and ended up with half a volume out of the way.

From that moment on I was left to my own resources when it came to trading. I actually surprise myself how well I’ve done. One more account manager change (Jett Henderson) and few months later I reached the volume. Extremely happy as you can imagine that I will have over £13,5k profit to enjoy.

That’s when the dream ended, after few weeks of trying to withdraw my funds I came across forums entries, about people who never managed to withdraw their funds, even that they tried for months. I invested £12750, it was my savings but most of it out of my credit cards. I’m in the process of disputing those transactions with my bank and credit card companies. I don’t believe that I will get it all back, but need to exhaust my options first. Can anybody help?

It’s basically confirmed that 500option is a SCAM company, yet numerous web sites highly recommend them. If anybody got their details (for example their London address) please comment here, as I will be passing this to whoever I can to shut them down. I’m sure there’s many people out there who keep trading with them, but because they didn’t get to the point of withdrawal, are not aware of it. I started with rating their mobile app as SCAM and Fraud. If you can do the same, please do.

Thank you for taking the time to read it. I’m off to tell my wife that I f…ed up.

5 Answers
Anonymous answered 5 years ago
Hi Dan, 
Try this address: Donald Services, 64 Paul Street, London,  EC2A 4NG, UK. They are really evil. 

Anonymous answered 5 years ago
This company seems have disappeared. Their phone number is just a hoax. You can never get through. No one replies to emails, messages, calls. They just took the money and ran away. Fx kers! 500option is a total scam! 

Anonymous answered 5 years ago
Hi Dan, I have been with 500Option for just on a year and have been trying withdraw £1000.00 from one of my 
accounts for the last six months. I just get excuse after excuse. There accounts department is apparently very busy!!
If you believe that you’ll believe anything. It now seems very unlikely that I will ever receive my funds and so all I would like to do now is damage the company as much as possible. Any ideas ??
best regards       Robert Best

Anonymous answered 5 years ago
Where are you Robert? If you are in the UK can you report them to Trading Standards? I think they already moved all the money and ran away. Everything is done online who can catch them? Their company was registered in unknown Belize. They removed the London office address on their website and changed to Bulgaria. Everything is just so doggie of this company 500option. I was so stupid I believed what they said and gave them all my savings…

Iris answered 5 years ago
500option is a total scam! Whoever is thinking about investing with them just stay away!! You will not see a penny in profit and see your own money ever again!! I put 30,000 $ and not getting anything back. I know I was too stupid, naive and greedy. Hard lessons learned. Now I just want to warn everyone. They just want you to put more and more money! They don’t care if it’s all of your life savings or you borrow from the bank. They don’t care if you need the money to save someone’s life. They have no morals and souls. These people will be judged by God. They can take the money now, but they’re not going to take with them when they die. They’ll all go to hell!! In 500option withdrawal is impossible and they don’t have any explanation for that. They are just a group of gangs! Don’t believe anything on their website and anyone who calls you from that company. I hope some authorities will shut them down and put all of them in prison.