Investment scams emerge in the online trading world as the method gets easier than ever. The presence of a website which offers an incredible return of investments after few sessions can lure anyone who wants an instant change of financial status. However, in reality, all the success and profit attainment do not happen overnight and there won’t be any magical impression. Trading over the internet is prone to scamming activities since the personnel are only present online. This business requires trust and experience, and FSM News conducts a collective effort to find the distrusted companies over time.
Option Rally on the List
Option Rally has received numerous complaints from its previous clients including unapproved withdrawal requests, lack of authority on personal accounts, blackmail, and telephone abuses. Clients also mentioned that accounts couldn’t be closed, making it hard for them to get their money back, there were also Account Manager who cheated and agents who pushed to increase the deposit.
In 2014, the Company received a warning from the Forex Peace Army as the forex broker expert found out that an OptionRally employee posted two reviews as a satisfied customer. The FPA strongly suggested to trade enthusiasts to halt having business with the Company until the matter is addressed.
Not long before the resolution of the initial claim, the FPA released another warning when the Company posted a stand that AML law required all clients to make trades, something that the forex broker expert has no knowledge of. The Company was associated then with money laundering. In the latest update, the client who got involved in this case claimed an unauthorized charge against his credit card by Options Rally.
The FPA had been waiting for the Company to clear its name after having four FPA Traders Court Guilty verdicts since 2015. (See the full contention here: http://www.forexpeacearmy.com/forex-reviews/11105/www.optionrally.com )
OptionsRally is also part of Australian Securities & Investments Commission Unlicensed Companies List. According to the ASIC’s MoneySmart, the securities company suggests that this Company could be involved in a scam due to its lack of a business license to operate in Australia.
The Company is under the trading name of LFG Investments and located at 10 Collyer Quay, Level 40, Ocean Financial Centre, Singapore 049315. Others find it hard to determine the irregularity of the company because the website is presented professionally. (Check the list here: https://www.moneysmart.gov.au/scams/companies-you-should-not-deal-with/unlicensed-companies-list/o/optionrally )
Online brokerage companies can fool anyone who easily gets convinced. However, a real and smart trader would take a look of the company’s license and regulations to identify any fraudulent activities from the past until now. Be keen on the facts that the company provides, for they may be misrepresented just to provide potential investment opportunities. Don’t ever let yourself be a victim of stock broker fraud. Seek for those worthy of your time and money.