| Country | United Kingdom |
| State | England |
| City | London |
| Address | 6F/ 25 Old Broad Street |
| Phone | 1-888-977-6836 |
| Website | www.spotfn.com |
Avoid SpotFN brokers at all costs! They will take advantage of the fact that their calls are unrecorded and so they lied about about the types of trades and payouts; giving bonuses regardless of whether I denied before and after because they "need to complete trades;" my income; how my losses were insured so that money lost would be put back into my account; withdrawal amounts, ability and dates, as well as status; and even their occupations
(Please note that all dates given here are in GMT as is the time zone on the SpotFN website)
I went through 6 assigned brokers at least with one outlier that has not been confirmed as mine yet but still worked with me. First, there were the consecutive losses made with $1000 and $700 investments of my $2000 balance by broker Mary Batista on August, 25, 2014 with the only win by her coming from a $25 investment. She was coercing me to use my entire balance when I told her I was new, had just opened an account, and needed some coaching to which she said just to trust her because she knew what she was doing.
She said that if I only wanted to trade with $25-50 investments, then she would not be able to work with me. She said that she would call me right after the second expiry date, but never did.
I proceeded to call to the main SpotFn number to report her behavior and actions and find help in replacing my balance on Wednesday, August 27, 2014. Grace Grattis (last name spelled by live chat) answered and told me that she would work with her supervisor and definitely get my $1000 back at least. As a promotional offer with her supervisor, she said that if I would first deposit $960 to increase my balance to $1000 that she would then later deposit $1000 as a bonus and with an additional $1000 to make it a total of $2000 more and that I could withdraw $2000 on Friday, August 29, 2014. I agreed. The bonus that was added was actually $960 and there was never any additional $1000 to make it $2000 more than what I put down out of my own pocket as promised by her. I told Grace this several times and she said she would speak with her supervisor about this many times and said that they were still working to add it. She said that she had a good winning trade late Thursday night, August 28, 2014, which was a loss on Friday, August 29, 2014. Afterwards, I had to get a hold of her on the following Monday because she never called me back and when I mentioned if her supervisor and her were still going to add the additional $1000 as they stated before, she brushed it off and said that the $1000 that she added as a bonus was her money, not the company's, and so the loss was actually her $1000 not mine or the company's.
Paul Soho had called me on Saturday, August 30, 2014 to say that he had winning secure trades that would have me make $17,347 in profits and that I would be able to withdraw them on Thursday, September 4, 2014. He said that this income was guaranteed and that I wasn't going to lose a trade, but if I did, that my losses were insured. He said that I would need to make a $5K deposit up front, which I did. He said that he would call me that Labor Day of Monday, Sept. 1, 2014 at 5:00-5:30 PM, and I called into SpotFN several times that Monday night trying to find him but only reached customer service agents/brokers who said that he was just going to be late and call later and I waited and called, several times and stayed up through his shift to 1 AM. When I called back on Tuesday, Sept. 2, 2014 and finally got a hold of him, he said that he had taken the day off before proceeding with what we we discussed the past Saturday. He guaranteed again that I was going to make $17,347 in profits to withdraw on Thursday, September 4, 2014 and that I can continue with the "program" later for profits in the thousands every week. On Tuesday, September 2, 2014, seven $745 trades were given by him that resulted in 3 losses and 4 wins, one $750 trade given by him that resulted in a loss. Later that night, I saw in my account that a $5,000 bonus was added without my approval. I asked him why he gave this to me without my approval and he said that we really needed to complete the trades and said it would be too late if I waited. He gave me a total of 6 $1,500 trades that resulted in 4 losses and 2 wins and 1 $1,300 trade that resulted in a win. I was going backwards and far from making anywhere near the "guaranteed $17,347."
I called the main number of SpotFN the next day, Wednesday, September 3, 2014, and Sebastian Grey picked up and I discussed the problems with him about Paul Soho. Sebastian said that he had golden trades and that they each had a 98 percent chance of winning and 100 percent payout. He said that he would have me gain the money I had lost back. I told him that I did not authorize the previous 5K bonus and that I did not want him to give me any bonuses. He said that he would not give me any bonuses. He said that he would need me to deposit 5K up front and I asked him why he couldn't work with what I already had in my balance, which was in the one thousands and he said that he would simply lose over $4,000 if I didn't. I asked him how and he said that if I lost any trades that he would lose money as well and when I questioned that, he said that it was sketchy how it worked. He repeated the guarantees of the golden trades and so because of these "guarantees," I deposited 5K. His 17 "golden trades" of $1500 each resulted in 8 wins and 9 losses and 2 "golden trades" of $750 and $500 both resulted in losses. None of the wins had a 100% payout, all were less or equal to 85%. I interrogated him about this during the session before the expiry dates and he said not to worry and that they would show up as 100% later, which they did not. He also said that I would not lose any trades.
I called the main number of SpotFn that same night and reported these lies made by Sebastian and reached a broker who said that she would have someone in the support department look at my issues and that she would call me the next day, Thursday, Sept. 4, 2014 at 9AM, and she never did that morning. I got a call from John Delaware the night before on Wednesday, Sept 3, 2014, stating that he was a financial analyst and head of accounting and that he was responsible for helping mishandled portfolios like mine. He said that someone told him to call me and that his only offer was that he would upgrade my account to the platinum membership and that with him I would be making a profit of at least 9K a week that I would be able to withdraw every Friday and that I would be able to withdraw at least $6,000-6,500 on the Friday of September 5, 2014. He said to do whatever I could to pull out 5K from my personal accounts to upgrade so that I could win all that I had lost.
I never did any trades with him because when I was making my deposit with him over the phone on Thursday, September 4, 2014, Kimberly Jackson called and said that she was calling from accounting and that she saw that I wasn't making much money and that she would be able to fix that. I told her that I was working with Jonathan Delaware and she said that it was okay, that they were working together in accounting to fix my issues. I was adamant about checking with John first before making the deposit with her and she insisted that it was fine to make the deposit with her as both she and John were working on the same offer with my portfolio. We then discussed how I had an overly high loss percentage, and I told her about the outright lies, including false trades and withdrawal guarantees, made by my previous brokers. I asked John if it was alright that I was making the deposit with Kimberly of accounting (a total of 4K this time because Kimberly said their merchant wouldn’t accept the 5K) for his offer, and he said it was. He then later called me to ask if I made the deposit with someone else because he tried to charge my card as well and he said that his merchant said it was already made with someone else; I reminded him about Kimberly and he said that she lied to me, that she was just a broker and was going to lose my money, did not work in the accounting department, and that he couldn’t work with me anymore because the deposit had to be made through his merchant. I then asked Kimberly why she lied to me about all of this and she pulled her Supervisor, Paul Soho, who backed her up and asked if I wanted to make money for the company and I adamantly said no and that I wanted to work with John. Kimberly had the President Charles Constantine, License 785254, on the phone with me to discuss my issues and to which Charles very emphatically said that I was in good hands with Kimberly in customer service, accounting and brokerage terms and that it wasn’t a marketing tactic. Despite this, Kimberly repeatedly made false claims that I could withdraw my entire balance on Friday, September 5, 2014, that I’d make profits and have spending money whenever I want, that the Deposit Confirmation and Customer Verification forms were to insure my losses and in her example, if I made bad trades myself and lost all of my balance that they would put the losses back into my account. The only time SpotFn employees ever put anything back into my account were bonuses, even the unauthorized ones, AFTER I made deposits out of my own pocket. Kimberly also said that John Delaware was just a broker himself and so I don't know who was telling the truth or if both were lying here.
On Monday, September 8, 2014 going on Tuesday, September 9, 2014, before the trading, I asked Kimberly Jackson why I still saw my withdrawal request of $7,000 as pending to which she replied that it was processed already. I told her that I did not see it as approved yet and she confirmed that it was still processed and just wasn’t reflected as so in my account yet. I trusted her and proceeded, and she gave me eleven $1,500 trades, which resulted in 6 losses and 5 wins and a $1,300 trade, which was a win. Later after the trading, I saw this request as canceled. Also later, without my consent, I saw a $4,000 bonus was added to my account without my consent but of course quickly approved on SpotFN side. My balance was at $19,878.25 at this point when I decided to stop doing any services with SpotFn while I still had income in my personal banking accounts.
On Monday, September 8, 2014, I called SpotFN to withdraw my entire money from my balance and reached Mark Thompson. I explained to him what had been happening in terms of my experience with SpotFn, and he said that he would assign himself to my portfolio and approve all of my withdrawal requests since I had signed both the Deposit Confirmation and New Customer Verification Forms to confirm and protect my capital. He said that he would have to cancel my pending requests first and have me make the new ones just the same so that he could approve them for my withdrawal of my entire balance within one business day. I only saw the withdrawal requests as still pending for at least 24 hours when I called him again on Tuesday, September 9, 2014 and he confirmed again with me that I could withdraw the entire $15,960 deposits that I made with SpotFN.
All of my withdrawal requests were canceled except for the $3,918.50 made by SpotFn as they claimed the $15,959.00 of the $19,878.25 balance was their bonuses given to me. Here is my rebuttal, which I will email to them:
In regards to your statement of my balance of $3,918.50, which contradicts the previous statement of balance of $19,878.25 made on Tues, Sept. 9, 2014 at 12:12 PM (see screenshot and check your email), if you look at my banking history of SpotFn (attached images to this email), you will see that each bonus was applied by your employee(s) after every deposit or series of deposits I made, NOT when I merely had $3,918.50 left in the balance (which never occurred). Therefore, when losses consistently occurred due to the poor and false trades given by your brokers assigned to me and to the point of less than the total of my deposits and your bonuses, the bonuses should have been affected as well. The fact that you withdrew all the bonuses combined that you ever gave me (without my written, verbal, or manual approval) all at once after the end of all the trades and the approved withdrawal request of merely $3,918.50 means that each deposit I made out of my own pocket was made toward the loss of the previous bonus given. This was never stipulated anywhere and certainly not on the forms that I signed- New Customer Verification and Deposit Confirmation Forms, just that "in order to withdraw [my] full bonus, [I] will be required to execute a minimum trading volume of 30 times for every $1 bonus." There was not any stipulation that a loss of balance that surpassed total deposits and cut into bonus would mean that the next deposit would be made toward the replacement of the bonus.
I am from India. I deposited $250 and a few days later wanted to get a refund. But they didn't refund but kept on saying they refunded. I have sent a complaint to http://www.ic3.gov/complaint/default.aspx
I joined with the promise of free software that would help make informed decisions that suposedly have an 85% success rate however that software never came and everyone denies ever saying it.!!
SpotFN a binary option broker with supposed physical address in the U.K is not a bonafide brokerage firm. They specialize in binary option trading but once you establish an account you cannot close it or get your funds out.
I contracted for auto trading services with an internet program called The Millioniare Society. Their recommended brokerage for the U.S is SpotFN in the U.K who accepts U.S citizens. Based on a 2 hour webinar which showed 3 indivduals supposedly setting up live trading accounts and seeing live results on the webinar of small amounts of 250.00 plus being traded into 3-4K profits I opened an account with their recommended broker for the U.S.
SpotFN offered a matching bonus funds program .......depending on the level of starting capital the bonuses offered wrere scaled incrementally higher. After watching the trading activity for about a week seeing the software trade around 3-4 trades daily some trades successful and others at a loss I decided this was not what I saw on the live webinar demonstration ( which would mean that the software traded more trades and the risk levels applied would be all in or at least 100.00 per trade ) I decided to close the auto trade services where my risk level was set at the min. 25.00 per trade which is the reason my account is still not wiped out .
I contacted SpotFN to close my account in which started a chain of email responses the essence of which is that you cannot get a withdrawal unless you meet the terms of 30 mutilple per every 1.00 of bonus offered. I pointed out to them that there is nowhere in their service agreement that says this rule applies to the closure of an account and they cannot hold my account open when I am asking for it to be closed . I received a refund from Cickbetter the host marketing platform of the autotrading services on June 14 which terminated my membership with the millionaire society.
On June 16 there were 4 trades placed on my account again when my autotrade membership was terminated on June 14. I wrote to SpotFN letting them know that they are now commiting fraud in churning the account as there should be no trading activity on the account at all and that I was taking this matter seriously as fraud and theft.
I reported the matter to the fraud dept of my bank who has placed a dispute in with the card processor for SpotFN . I have put SpotFN on notice that further action will follow which includes filing complaints with the following regulatory agencies : 1) U.K FCA 2) Cyprus Securities and Exchange Commission ( it seems they are operating from Cyprus) 3) U.S NFA even though they may not fall under regulation by these agencies. In addition, contacting Interpol since this has now become an international cross border matter of fraud .
Do not do business with this company.......and never take any offer for a matching bonus funds from any firm offering the same.
I am from India. I deposited $250 and a few days later wanted to get a refund. But they didn't refund but kept on saying they refunded. I have sent a complaint to http://www.ic3.gov/complaint/default.aspx
This is a Nightmare for everyone involved someone should shut the down these Thief's
Lost 12 K Call and ask for Accounting :Brian Morgan chief Liar Perhaps they will give some money back.
I got my money back but they suggest that I change my phone number and email address which of neither do I want to do, and to this day I cannot close my account and it reflects the bonus amount still
Spotfn not return the money. You can make a profit on its platform, but when you want to remove and not accept return nothing. No answer calls or email.
No invirtais with Spotfn. It's a scam.
It started with morrison web sight stating he could make you a lot of money using his software but could not reach him after paying for it after 2week I called click bank because it was a money back offer and got my money back from them used my credit card on spotfn for $1000 for trades That morrison stated need to work with his software I would recived a bonus for putting money in spotfn . So then I stated what I wanted to buy as far as options but keep getting lies and so I was trying to get my money out. Spotfn sent me a form to fill out saying this was not drug money or for terrorist funder money so i did this thinking I could get my money back then.I worked with a lot of differance people who all lied ,called me hung up on me about what was going on and keep wanting more money & more money added to the account and then James freudman called me and stated he could make me big money with 2.0 software I keep saying no and he keep on and stated he could show me in two days that this would put a lot of money in my account I did not belive him he said I will show you . I checked in 2 days and the account was losing just as I expected it would do. I was online at the bank credit card that day noticed 5000 dollards put on my credit card so I call the credit card custmer service ask if this charge had cleared The person said no I said don't pay this because I did not ok this charge and was told ok . The next day went online to my credit card company and the $ 5000 had cleared and $ 5000 more was also taken out of i and had cleared also . I only had $7500 credit with the credit card co. this looks like fraud to me Called custmer service again was told had to turn in a dispute and the form was sent to me. I filled it out sent it back to custmer service where it came from.I recived a email stating thay had the form and would get it to the dispute dept. Thought all would be taken care of after 10 days no word from credit card despuite dept call then they stated I did not send one I said I had and checked to see if it had sent and it had been sent per my computer . Sent in another despute form to bank credit card a week latter called the credit card co they stated they did not recive it showed in my computer it was sent . Went to my bank had the bank sent the dispute form and finley the dispute dept had the form thay needed . The banker stated they had to pay it and the bank would go in and would get it back .I thought all was settled and the credit card gave me back my money then spotfn sent the credit card co, paper work from spotfn showing I had be on spotfn sight and my credit card reversed the charges back to me and that where we stand. I had be on spotfn sight trying to get back my money I first used to open the accont on spotfn on binary options, spotfn lied about why I was on the sight. I told spotfn keep what ever money I had made and it had made some by now after 3 or more moths just send back what was on my credit care bill, but spotfn keep the software money and the money the account made. I'm out $10000 The credit card company and bank was wrong giving spotfn the money back and will go after then both. I have never received a call back from any one about this the credit card or spotfn. No will tell me but the first $ 1000 was creted to my account but I'm still at a big loss. I have tryed to be a truthfull as i can about what I rember and dont think I left any thing out.
Wish you provided something less than 1 star. Most all of the bad/illegal scam tactics mentioned in previous reviews happened to me.Except the one about somebody actually getting some money back.
I also had people calling out of the blue w/information that could only have come from spotfn. There was supposedly a big purge. After not being able to contact my broker for 2 days or login to my account I finally got through to a Troy Pierce. He said "my broker and others his been fired for mismanagement of clients accounts" he went on to tell me I did not have a real account only a demo account which I was told later spotfn does not even offer a demo account. I said BS. Less than 5 min after I hung up w/Troy my old broker called from spotfn phone # made an excuse about being out of pocket due to family emergency.And the asked how I was doing I said " better than you I just heard you had been fired". He had a meeting come up all of a sudden and haven't heard from him since. Suspect he downloaded all info he could for later scam attempts.
I'm tired of typing so let me wind this up. When spotfn 'found' my account it was under a email address I have never had with a password I did not set. New broker for my found account started right in w/up-sale and promises. Most if not all of names used were not real. I spent a few bucks on getting real name(s) address and pictures.I may or may not ever see my money again but I know how to spread the pain.
I wish there had been reviews online before I invested, so I thought I'd give it a try, after all the minimum deposit was $200.00.
I started to make a deposit of $200.00 and it came back saying that the minimum deposit was $500.00. When I submitted the application the page did not change, I thought I had not clicked on the right box, then I clicked again and this time the Thank You , , , window came up. I wanted to make sure that only $500.00 had been deducted from my bank account (I was using my bank debit/credit card). I checked my bank account and found two withdrawals of $500.00 each for a total of $1000.00 USD. It was late that night, so the next morning, I called SpotFN contact number, explained what had happened, that my intention was to deposit only $500.00 and to refund the additional $500.00. They said that it was indeed a double click and that they would refund the $500.00.
I told them I needed that money back in my bank account right away and how long it would take them to refund the money. They said it would take some time up to 21 days. I told them that normally companies take a maximum of 5-7 days to handle refunds. They said their company's refund policy time was up to 21 days. In view of that and already suspecting that something was not right, I contacted my bank, explained the situation to them and asked them to open a claim to see if they would resolve the matter sooner.
My bank gave me a temporary credit of $500.00, and started processing the claim. The 21 days went by, it was June already and the bank claim had not been settled, neither had SpotFN refunded the $500.00. I contacted the bank and SpotFN and both told me they were working on it. Finally, on July 17, 2014, I received a letter from the bank letting me know that they had received the $500.00 and they were closing the claim.
The interesting issue is the way they satisfied the claim. I checked my account with SpotFN and the statement of my account shows TWO WITHDRAWALS OF $500.00. The date of the first withdrawal/refund is May 2, 2014. That's the date of the refund, remember double click? It took over 21 days and legal claim from my bank until they finally refund it.
Reviewing the statement I found a withdrawal of $500.00 dated June 30, 2014. To resolve the issue they took $500.00 in my investment account to settle the issue. My investment account should show only one withdrawal/refund of $500.00 and not two withdrawals of $500.00. I have asked them why there were two withdrawals of $500.00 on my account -- no answer to my many requests.
The account has been closed, but since I keep records of all my financial transactions, I printed a copy of the statement of my account and also printed out all the investment transactions, losses and winnings. After losses and winnings, there is a balance on my favor of $361,50. I have told them to refund the $361.50 and close the account. They have closed the account but refuse to refund the $361.50 and to explain the reason for the two withdrawals of $500.00. SPOTFN IS TRULY A SCAM.
There is a webiste WWW.scam.com/spotfn+review. In this website you will find a list of binary options broker scam investigation: SpotFN is the very last company and their assessment is MOST LIKELY SCAM. I hope my experience with SpotFN makes the reader think twice before investing with this people. TRULY A SCAM.
I have invested $2000 to trade binary in this company. I was making profit trading my self and i made a request to withfraw on october 27 $441 and $1000 on october 31, they approved both and my account was debited of $1441 and i still have about $2000 left, but i have not received the money yet, when i called them, they said that the accounting is investigating and when i called, they dont care about me. After i read the compaints here, i said to myself, the more i wait, the more i will be in the trouble.
Please help me get my money back please.
When I newbie, I used SpotFN. Then I got the information about the Daily Binary Profits from my friend. After knowing the service of Daily Binary Profits. I analyzed, then invest it. And I leave SpotFN. I am using the Daily Binary Profits at present. Because SpotFN seems to be very critical & many times give fake signals to me. And gave me $150 - $200 A day. One the other hand SpotFN success rate 20% - 25%. But Daily Binary Profits success rate 60% - 80% & earning $500 - $1200 a day. Now I am using Daily Binary Profits & earning huge profits money. So I recommend you that the Daily Binary Profits has a great customer support also. You can try it & of course you will be satisfied by Daily Binary Profits. You can know about Daily Binary Profits by visit official site. http://goo.gl/x1Yw64
On May 2014 to place deposit on line was impossible. after i call sumbody he said he is manager helped make deposit $250 .next day came email from Richard broker who has unique software and autopilot,i sent email to accounting to transfer my deposit to richardbroker.com. Accounting refused to follow my request ,insisted that Richard is affiliate,they have the best brokers they will make me big profit.10 days later was my balance $5. Who is the best broker? I aked accounting Answer was no clear : Some - Affiliate!?
richardbroker sent me email invited to open new account new email address, invited every day on Webinar. When I opened new account it took whole month, Spotfn again placed my deposit no for Richard but for spotfn.I did not understand why support from getrichinseconds every day invite me to webinar and asked,did you registered? did you make fund? I did fund $1000 But my money I never saw more. i never had chance to try unique richard software to make from $1000 $10000! they promised me. When i try withdraw, my deposit, broker Mark Thomson helped by phone withdraw. But next day Accounting answered by email that my money somebody returned to Trading!?? Why? Who did it???I without my permition??? I no interesting more in Trading , send me Refund. ! No , we will investigate. already whole month passed. when i call they put music on my head ,30 minutes , when somebody asked why do you call? Ah REFUND? they hang up on me. They no answer on email as well. spotfn is crook you need investigate and help me get refund $250 and $1000.
I was introduced through affiliate Richard Morrison to spotFN
250 at first and later 1000 with expectation of having a senior adviser call me twice a week but he just tried to convince me to add another 5000. Suspicion and further investigation online convinced me I am deep enough into this so in the end I called investigation dept of my credit card holder and they sent them a 45 day charge back order and finally got my money back after about a month.
They have stolen money in my account also , I had log out in my account and when Log in again my account had 0,00$ and yet I had left $ 1180
I endorse all the reports made about the bianary option firm trading as Spotfn. I was suckered into giving them $500, which disappeared of course, on promises and guarantees of profit. They did not answer calls, their support email is a scam, their operation is probably based in Costa Rica as one observer noted, and their representatives seem to be native spanish speakers with wierd and unspellable surnames. They are crooks who access your account for their own purposes, steal you ID, manipulate your account and pester you forever with requests to deposIt more money (such as $5000, 500, 1000) which I guarantee you will disappear into so-called money makinf (for them) auto trading robots. BE FURTHER WARNED THEY ARE CROOKS
SpotFN had frozen my account saying they dont have the correct email address which is the correct email.I also found out they took nearly $10,000.00 gradually out of my account claiming it was the autotrader.I at least need the account to be released to pay my bills and want to cancel and get back nearly $10,000.00 that they took for themselves.Since they have dozens of complaints also on their web page,I am looking for a class action lawsuit as well as attorneys.Anyone with other legal advice could also respond.
Include me in the list of suckers who have been taken by these crooks. Does anyone know what regulatory agency that we can report them to?
I am from India. I deposited $250 and a few days later wanted to get a refund. But they didn't refund but kept on saying they refunded. I have sent a complaint to http://www.ic3.gov/complaint/default.aspx
Spot fn is extorting me for money. i put in 4000usd. the broker tell me for him to help me he i need to put another 6000usd and he will match it. after trading couple days he comes back and said he need 5000usd more i said no so now he stop trading in my account and call me back couple days later and still tring to get the money. i decide to give him 3000usd he said he would put in 15000usd in the account he did not put in no money and now he do not work there no more. and my account have not been traded for 3 weeks. and when they got me a new broker he did the same thing and i refused to pay any more money. the people at spot f.n. tell me i can not withdraw the money until i trade 30time the money in my account. nobody is trading in my account now. do not trade with these people.
I am from India. I deposited $250 and a few days later wanted to get a refund. But they didn't refund but kept on saying they refunded. I have sent a complaint to http://www.ic3.gov/complaint/default.aspx
My main reason for putting this report together is to warn all that would consider trading binary options -STAY AWAY FROM SPOTFN. thay will fleece you. You will only experience total humiliation and loss of money.
I opened an account with SpotFN Binary Options broker and deposited $7,000.00 two different times and lost about $6,000.00 in the first 2 weeks because they had it on so called autotrade which I didnt even ask for.Even worse,I found out they were gradually taking money out of my account for themselves.They keep saying the autotrade is off and other excuses.Since they are a dishonest and distrusted company,I want to cancel and get the $7,000.00 back to my own account.I also notice in your files that there are at least 5 complaints against SpotFN.Also at spotfn.com there are hundreds more complaints against SootFN therefore I would also be interested in a class action lawsuit also.Their email is support@spotfn,com.Their toll free # is 888-977-6836.I would like to at least get the $7,000.00 back into my own account.Thank you
I am from India. I deposited $250 and a few days later wanted to get a refund. But they didn't refund but kept on saying they refunded. I have sent a complaint to http://www.ic3.gov/complaint/default.aspx
I wired Spotfn $58,400 with a 2 1/2 times bonus.
I was never informed that I had to trade thirty (30) times bonus.
That is impossible to achieve in anyone's lifetime.
Binary option trading. Their timers are off when you place a trade only at times.
Their Senior Advisors have been pulled in from the street and know nothing.
They set you up with Robot traders who is always 99% wrong. I was informed I would recive 1.8% interest each month.
I was not informed the 1.8% would be considered a bonus for which I would have to trade 30 times.
Spotfn is a fraudulent company who has never ever returned any monies to any of their victims.
STAY FAR AWAY!
Do not do business with SpotFN. They work with third-party auto trade who fill the internet with enticing videos of people making money with auto trading. It's all a scam folks. First thing is their auto trader does nothing but lose your money. Second, when you attempt to make a withdrawal they don't let you. Third, when you try to call them they won't answer their phone or chat if they recognize your name or number. They're nothing but scammers. Please stay away from SpotFN.
SpotFN a binary option broker with supposed physical address in the U.K is not a bonafide brokerage firm. They specialize in binary option trading but once you establish an account you cannot close it or get your funds out.
I contracted for auto trading services with an internet program called The Millioniare Society. Their recommended brokerage for the U.S is SpotFN in the U.K who accepts U.S citizens. Based on a 2 hour webinar which showed 3 indivduals supposedly setting up live trading accounts and seeing live results on the webinar of small amounts of 250.00 plus being traded into 3-4K profits I opened an account with their recommended broker for the U.S.
SpotFN offered a matching bonus funds program .......depending on the level of starting capital the bonuses offered wrere scaled incrementally higher. After watching the trading activity for about a week seeing the software trade around 3-4 trades daily some trades successful and others at a loss I decided this was not what I saw on the live webinar demonstration ( which would mean that the software traded more trades and the risk levels applied would be all in or at least 100.00 per trade ) I decided to close the auto trade services where my risk level was set at the min. 25.00 per trade which is the reason my account is still not wiped out .
I contacted SpotFN to close my account in which started a chain of email responses the essence of which is that you cannot get a withdrawal unless you meet the terms of 30 mutilple per every 1.00 of bonus offered. I pointed out to them that there is nowhere in their service agreement that says this rule applies to the closure of an account and they cannot hold my account open when I am asking for it to be closed . I received a refund from Cickbetter the host marketing platform of the autotrading services on June 14 which terminated my membership with the millionaire society.
On June 16 there were 4 trades placed on my account again when my autotrade membership was terminated on June 14. I wrote to SpotFN letting them know that they are now commiting fraud in churning the account as there should be no trading activity on the account at all and that I was taking this matter seriously as fraud and theft.
I reported the matter to the fraud dept of my bank who has placed a dispute in with the card processor for SpotFN . I have put SpotFN on notice that further action will follow which includes filing complaints with the following regulatory agencies : 1) U.K FCA 2) Cyprus Securities and Exchange Commission ( it seems they are operating from Cyprus) 3) U.S NFA even though they may not fall under regulation by these agencies. In addition, contacting Interpol since this has now become an international cross border matter of fraud .
Do not do business with this company.......and never take any offer for a matching bonus funds from any firm offering the same.