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Setoption a Total Scam

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Guys please donot trade with Setoption they are a total scam located in Switzerland.I had a horrible experience with them i opened an account and they offered me 25GBP bonus and mailed me saying i can withdraw the bonus and its profits after i reach 35X trading volume for the bonus and one deposit so i traded and made some good profit i reached 35X trading volume and applied for withdrawal of 800GBP then they cancelled it saying i need to deposit once before i withdraw.I made a deposit through Neteller E wallet.Again i applied for withdrawal of 1000GBP as i had balance of almost 1400GBP...After 8 working days i received an email stating "Our compliance department has checked your documents and your account and discovered a violation of our Terms of Service." When i replied asking what violation have i done?the reply was according to Terms and condition number 10th they dont need to come up with a reason for cancellation of my trading account so hence disabled my account...This is seriously shame i have put so much effort to make that money this is how u close it down my account?I do understand many would think its not possible to make 1000GBP from 25GBP bonus i can show u the screenshots of my trading history i took before they disabled my account as a proof i am an independent trader who earns from trading please avoid this broker and if anyone can help i will be glad but i dont think theres a way out!

Comments

Toni H.'s picture

Hi Syed, thanks for sharing your experience. We will try to get in touch with Setoption so that we resolve your problem.

Toni H.
syed_waseemh's picture

They wont respond i have given up on them i regret trading with them!

syed_waseemh
Toni H.'s picture

Unfortunately we didn't get any feedback from them. We are sorry for your issue Syed.

Toni H.
eddyboy's picture

Hey Syed, are u still having problems with set option? i am registerd with them currently. Need to know their track record before i can deposit more money with them. thanks.

eddyboy
syed_waseemh's picture

Still?bro i just gave up on them i am certain they are fake they did not let me withdraw single pound from my profit being a full time trader i would suggest you switch to either topoption or optionweb or onetwotrade for safety n security of your funds...Setoption are pathetic i would want you to look into their terms and conditions number 10 which says they can cancel anyones account at any point of time or refuse to pay profit without revealing the reason if they feel you are not genuine...Is that joke?thats what they have informed me they give no reason why as its upto them to decide and cancel account at any point of time...Just stop and don't waste time and efforts with setoption

syed_waseemh
Anthony Stanley's picture

yes Eddy, I am worried a little bit as I am already registered as well.

Anthony Stanley
Connor Bruce's picture

yes I also think that they are fake, otherwise, it is not possible like that.

Connor Bruce (not verified)