Boss Capital Scam? Yes It Is In My Opinion!
A common scam that is run all over the world is the binary options scam. Investing with offshore companies offering binary options should be avoided. Once offshore, it can be nearly impossible for you to recover your money. My subscribers have requesting I take a look at Boss Capital. Here is what I have found.
Boss Capital Scam Claims
Founded in 2014, Boss Capital is dedicated to providing its traders with a rewarding and enjoyable trading experience. We strive to be at the top of the binary options industry, providing our traders with the latest technology and most profitable options in the industry.
Boss Capital wants to make binary options profitable for every single one of our traders.
Our objective is to make the trading process as simple and profitable as possible for any level of trader.
Boss Capital Scam Reality
Boss Capital is not registered to operate in the USA or Canada. They still offer accounts in these countries.
Boss Capital is owned by Marblestone Partners Ltd / 1A Arcade House, Temple Fortune, London, UK, NW11 7TL. The director of Marblestone Partners Ltd. is Oliver George Simpson.
Do not deal with internet companies that offer binary options that are not registered in your country.
Boss Capital is part of a binary options scam that is run under many different websites and many company names.
Oliver George Simpson is the director of Marblestone Partners Ltd., Running Forest Partners Ltd., Redtulips Consultants Ltd., and Triple S Capital Ltd..
Here are a few websites in addition to Boss Capital linked with this scam:
Traderush.com – Marblestone Partners Ltd. / 1A, Arcade House, Temple Fortune, London, UK, NW11 7TL.
Porterfinance.com – Running Forest Partners Ltd. / 1A, Arcade House, Temple Fortune, London, UK, NW11 7TL.
Redwoodoptions.com – Redtulips Consultants Ltd. / 1A, Arcade House, Temple Fortune, London, UK, NW11 7TL.
Cherrytrade.com – Redtulips Consultants Ltd. / 1A, Arcade House, Temple Fortune, London, UK, NW11 7TL.
Magnumoptions.com – Redtulips Consultants Ltd. / 1A, Arcade House, Temple Fortune, London, UK, NW11 7TL.
Citrades.com – Triple S Capital Ltd. / 1A, Arcade House, Temple Fortune, London, UK, NW11 7TL.
You will notice that all of these companies use the same address. Here is why this is the case. They use a company creation service based in the UK that allows you to hide your actual location and use an address of the company creation service: BC Business Centrum Limited.
For a few hundred pounds you can create a business in the UK with BC Business Centrum Limited. http://www.offshore-formations.co.uk/
When the word gets out that people are losing money to this scam, they create another company and another website.
Here are examples for Traderush.com on how this scam works:
As soon as you sign up and put the minimum $250.00 to do some binary options online you will receive a call from a “SENIOR ANALYST” to invest more money for long term options. It’s simple you either predict that the commodity, currency or stock will either go up or down and if you are right you receive a certain percentage from the amount you “invested” so anyhow everything will work as it should in the beginning when you are just barely getting your feet wet, your testing it out you lose some you win some, you figure out the system and you start actually doing very well, surprisingly well, you will get another call with another amazing offer too good to be true and when you decline that again that’s when your account will go to hell and they will tamper with it by causing you to call the incorrect rates when choosing call or put on the option making it almost impossible to win. When I wasn’t winning it wasn’t doing that, as soon as I made couple thousand, they turned the losing on switch and that’s when you might or will lose all your money. Therefore I suggest to stay away from this website and do some research before investing money with these SCAM ARTISTS.
I deposited $500 to my account and they said they will match what I deposit. GREAT! right? WRONGGGG. They did not tell me you need to make 30x whatever bonus they gave you. which means for me….$500 x 30 = $15,000. Yes, that’s right….if I ever want to see my money again, I would have to make $15,000 to even THINK about making a withdraw. – Source YouTube
Their platform is rigged and you will lose your money, you can count on it. If you accept a bonus, well then you can forget about asking for a withdrawal. Their sales team is like a revolving door and I went through 4 account managers in less than 6 months. Another thing I learned while going through a chargeback process with my bank, they are not in Virgin Islands or British Anguilla as they claim, they are actually based in Israel. – Source Binaryoptionsblacklist.com
Traderush is the worst SCAM BROKER in the world. I had a very bad experience with traderush. I deposited USD 250, managed to grow that account to over USD 2100 within a month and half. They suddenly removed the profits I earned as bonus and they closed my account all of a sudden. – Source Forexpeacearmy.com
TradeRush are in this game to make money, not to loose it. Don’t insult your own intelligence by swallowing their sales line “we like you to win because then you trade more and recommend others.” You are allowed to win just enough for them to encourage you, and to believe that any subsequent losses are just a bad spell of luck.
Getting you to invest MORE funds is the name of the game, and is essential revenue for sales staff, as they are paid a commission percentage of deposits only. Bonuses help to lock those deposits in for a decent term and chances are, they will be lost over time. Bonuses can only be retained after trading a minimum of 20x the bonus given. Suffice to say that only a small percentage of traders can achieve this without blowing up (you do the math).
Trouble is (for TradeRush), that some can, and do. As the threshold gets closer, the damage limitation increases. Imagine trading an instrument whos prices and movement bears no relationship to its actual market price, and is not only unique to TradeRush but also to YOUR PLATFORM! Your fill price and your expiry price will be their choosing. That is how far they will go to handicap profitable account holders…and then some: Timer clocks being changed, trades disapearing, options being suspended, filled prices being manipulated way off the screen price etc. Even this doesn’t stop an elite few making profit, so IP blocking is next in the damage limitation armoury. – Source Forexpeacearmy.com
Here are examples for Citrades on how this scam works:
They let me first deposit $250 when I call to withdraw the person that I was talking to was sooooo rude when I ask him if I could talk to some one else he said you should go talk to your mama because you are pain in the A**** so anyway he told me to withdraw you have to provide to us ID and copy of the credit card so I did but still I can not withdraw the money …very very bad customer service, they are bunch of thieves and when u want to withdraw your money they don’t let you. Please do yourself a favor and stay away from Citrades.
Citrades is now threatening me if I don’t comply with what they say they will report my card as fraudulent. These guys are a real piece of work! – Source Complaintsboard.com
Here is what is required to be sent to Boss Capital to withdraw money:
- Updated Utility Bill with your current address.
- Front and back photos of the credit card(s).
- Official Photo ID.
- Signed verification forms indicating that you are the one that individual that made the original deposit (If you have used a non-credit card payment method such as Skrill this form is not needed).
- At times you will even be required to accept a phone call, particularly when large sums are being transferred.
From the Commodity Futures Trading Commission, here are three ways binary options companies scam people:
1. They refuse to credit your account or reimburse funds after accepting your money. You deposit money into your binary options trading account and are then encouraged by “brokers” over the telephone to deposit additional funds into your account. When you attempt to withdraw your original deposit or the return you have been promised, they cancel your withdrawal request, refuse to credit your account, or ignore your telephone calls and emails.
2. They collect information such as credit card and driver’s license data for identity theft purposes. If a binary options Internet-based trading platform requests photocopies of your credit card, driver’s license, or other personal data, do not provide the information.
3. They manipulate the binary options trading software to generate losing trades. The Internet-based binary options trading platform manipulates the trading software to distort binary options prices and payouts. For example, when a trade is “winning,” the countdown to expiration is extended arbitrarily until the trade becomes a loss. – Source Cftc.gov
Boss Capital is on the list of online trading suspicious schemes provided by the AMF.
Boss Capital Scam Conclusion
In my opinion, Boss Capital is part of a long line of binary options scams that have been running for years. They are typically unregistered in the countries they are offering accounts in. Many binary options websites and companies are opened so that if complaints are made they can just move on and continue to scam people. Avoid the Boss Capital scam.