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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 100964
Experience:  Lawyer
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I have a same situation w/ a binary trading broker. I was

Customer Question

I have a same situation w/ a binary trading broker. I was asked to deposit some money for trading by their help I could get a profit w/in a week or month. He said we are partners my gain is his gain but not mentioning a consequences of the bonuses they added up he said it is for my protection.They played the trading by dictating to me step by step what to do (put/call) and being monitored at their end. All trading results were a huge loss. I feel that the platform they've been using is being manipulated at their end and they do not want me to win because they do not want me to withdraw any money from my deposit. I just need a legal adviser to review the contract if there is a chance for me to claim the balance (6k). I feel trapped and has been rippedoff. The trading company is based abroad.
Submitted: 1 year ago.
Category: Canada Law
Customer: replied 1 year ago.
I hope you could give me a feedback on this also, I called to my credit company last week to cancel/stop the transaction I made to the same broker. The lady said the transactions are not yet posted and they cant do anything. I called again and they were posted already , file a dispute after a week if the Merchant did not respond to me. Then yesterday they said there is nothing they can do to stop the payment and even if I file a dispute I will not win because I approved the payment to the Merchant.
Customer: replied 1 year ago.
I am just trying to figure out how could you give an accurate answer if you have not yet read the terms and conditions I signed w/ them.Thanks.
Expert:  Debra replied 1 year ago.

No one on the site can read your contract. Only your own lawyer can do that.

But, what I can tell you is that sadly, it is very likely that you are the victim of a scam. I don't know what you are referring to when you say that your situation is like someone else's. Perhaps you read about that from someone else's question on the site? If you did, you likely realize that you are in a very difficult situation.

All you can do at this point is to ask the credit card company or the bank to assist you and file a report online with the RCMP fraud division. However, given that these scammers are outside of Canada it is exceedingly unlikely that they will be caught I'm afraid.

I'm very sorry to have to tell you that.

Customer: replied 1 year ago.
The credit card company cant even cancel the transaction made that day knowing that it was not posted yet. How could they possibly help. What is RCMP stands for? Can I also send a report to CMA of England or
The Unfair Terms in Consumer Contract Regulation. As far as I know they are licensed & Regulated in Cyprus approved & validated by the FCA (Financial Conduct Authority) of UK. If they are not regulated the more hopeless my case will be?
Expert:  Debra replied 1 year ago.

You can send a report wherever you want. But, these are common scams and you're the victim of a scam and the scammers are not going to get caught in all likelihood. So whatever you do don't send anymore money and don't spend any money on this.

Customer: replied 1 year ago.
Expert:  Debra replied 1 year ago.

You are very welcome.

I hope this works out and I am so sorry you are in this awful situation.