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Debra
Debra, Lawyer
Category: Canada Law
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Re Binary Option Fraud: I had $29,000 invested with a Binary

Customer Question

Re Binary Option Fraud: I had $29,000 invested with a Binary Option company called Amber Options. Within hours of them verifying my identification documents, they accessed my account without permission and traded all $29,000 away in the markets. I was the only one accessing and trading on my account 5 months and as soon as they received all my necessary documentation for future withdrawals, they traded all my money away. They refused many attempts in contacting them to explain what happened and discuss reimbursement to me. Where do I go to pursue legal action and report them to the authorities. - Kerry from Canada, XXXXXXXXXXXXXXXXXXXXX
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

How were they able to access your account?

Customer: replied 1 year ago.
I don't know, they must have known my password. I went to do some trading and my password ***** working. I went through the process of getting a new password ***** when I finally got into my account, my balance was about $100.00. Then I saw all the trading activity on my account, non stop big trades until all the funds were gone. If they didn't do it they would have responded to all my messages and emails.
Customer: replied 1 year ago.
I think all Binary Option companies can access your accounts. I was not working with a broker or there was no third party robot company doing trades on my account so someone at Amber or associated with Amber Options did it. If there was a security breach then Amber Options should have contacted me to discuss the situation and made effort to reimburse me.
Expert:  Debra replied 1 year ago.

Where is Amber Options located?

Customer: replied 1 year ago.
1A Arcade House, Temple Fortune London, NW11 7TL, UK+34-91-0831829 Spain
+***-**-****52 Cyprus
+44-20-37347831 United Kingdom
+27-11-5681353 South Africa
+61-28-0734466 Australia
+1-647-4959058 Canada
Expert:  Debra replied 1 year ago.

I suggest that you report this to the police in Ontario as it seems that is there Ontario number. You can call the OPP and if that doesn't work then call the RCMP. This is a case of theft or fraud as they cleared out your account without your consent.

If that doesn't work you caN retain a lawyer and threaten to sue them. You can sue them in Ontario for up to $25,000 in Small Claims Court and self-represent but I am not sure you will be able to find them to enforce the judgment so getting help from the police is the best first step.

Customer: replied 1 year ago.
Thank you for the informaton, I will contact the police and go from there.In addition, do you know of any scam association or websites this should be reported to. (To try and notify the public and possibly make the public aware of such acts of fraud).

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