Real user experience with Option500

One of our readers sent us his story with the unregulated binary options broker Option500. We agreed that it is worth sharing. As always it is very difficult to find help when dealing with an unregulated company.

Real user story

Option500 approached me through my handphone on 21st September 2015 from the number +44 2036958189 for opening a trading account of Binary options with them to make income of money. They initially asked me to pay 500USD then forced me to pay another 1500USD.

Then a broker from option500 named Carl Ericssion called me from the same number and promised me that they will not play with my real money and help me to make more money through the investments I made and also he insisted me to invest further for big trading’s. So I paid again USD1200+USD500.

Option500 promised me that even If I lose my money through trading I could able to take out all the money at any time that I have invested. Unfortunately in the subsequent days I lost all the money in trading. On 24th september 2015 again Carl called me and said he will help me to retrieve all the lost money and for that I have to invest further 10000USD and I paid that amount as he said.

Suddenly My account was locked for two days and not knowing what were went on, so I sent an email about that to them on 2nd October to return all of my deposited money of 13,700USD. On 3rd October 2015 Carl again called me and promised to make profit out of my invested money and from that profit I could take out of the invested money. For that he asked me to authorize Option500 to make trading on behalf of me, with his promise, I had gave them the authorization to trade.

When I saw the way of trading done by them, I was not comfortable, so I sent an email to them on 3rd October 2015 to return all of my Deposited money 13,700 USD, there was no response to it. I reminded them again about that request of returning the money on 6th October 2015, but without responding to my email and without informing me they did trading and lost 90% of my money. I did called them on October 7th 2015 to stop further trading and to return my money.

They didn’t listen to me at any time and purposefully vanished my money and replied me that I have lost my principal amount. In addition carl tried to rip off my money from credit card without my knowledge and fortunately at last moment I did stopped his fraudulent act . Firstly they did not even informed me that managed system Robot will play on behalf of me and how much they are going to trade. I made again a big complaint to their customer service team to resolve the issue, but there is no proper response from them and they keep insisted me to invest me further.

They didn’t admit their mistake at any time and provide proper response to my requests/queries/complaints. I lodged a complaint to Action fraud Police Uk & CYSEC, Subsequently Carl Ericcson Option 500 Scam Broker called me on 23rd Novemeber and asked my details of credit card to return the deposited money, I gave the card number only and got alerted that he was trying to rip off money when he asked for the expiry date and CVV number of credit card.

So I did not gave those details. However he managed to deduct USD 5000, with out my consent. At the same time Alan Jones of Option500 compliance manager made a forgery document showing that I had agreed to deduct USD 5000 dollar from my credit card and Acknowledging the same with my signature.

I again made complaint to Credit card fraud handling department , Action fraud UK and CYSEC. Credit card is working on my latest complaint. So far I lost huge amount and did not get any positive result to my complaints made.

When I search Google I found your blog where helping victims like me to retrieve the money from scammers: I have the following complaints on them: 1. Option500 broker obviously made an illegal trading on my account without my knowledge, 2. Option500 refused to return my money when I requested 3. Option 500 ripped off money from my credit card with out my consent 4. Option 500 given empty promises to rip off more and more money 5.

The online software is designed and manipulated such way that the traders will only lose the money all-time. The value shown on the system is not matching at any period with real time market value. Please help me to investigate it and get back the money that I lost to them.

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35 thoughts on “Real user experience with Option500

  1. James Shaw has contacted me after approximately 1 1/2 years, after we tried to withdraw our funds and was told no because what was left in the account was bonus money. Now he says he has continued to trade on my behalf, (without my knowledge) He has earned us 94000.00 euro and wants to send us our money, because someone is buying the company. It will only costs 10,000 euro to get our money, and for some reason he can’t take it off of the money we have sitting there.

    So heads up this, another scam ??

    1. Of course, it is just another trick to take your money, don’t send them anything!

    1. Yes this has gone on for 4 months.( with Elliot)
      I invested 2k€ and they returned 385€ After I asked for 1500. My account shows almost 5k but because the”Bonus” they added I cannot withdraw any money. I can settle the account if I wired them another 5k and I would get all my money within 28 days without interest charged to my credit card. Not falling for the bait and looking for a way to retrieve my initial investment.

  2. Guys,
    right now am being scammed by a guy who calls him self Elliot Schreier, till now i had sent him 500 Euros, and now he had asked me to send a scanned copy of my credit card and passport and Utility bill, if someone wants to catch this guy, you can contact me .. i can talk to him and we can try to get as much info from him as possible.

    1. Vijay,
      Have you had any luck getting money from this guy;how is he leading you on? What sorts of questions is he asking you?

  3. Thank you for comments. I have lost 4500€ ++ and I have given up hope for getting it back.
    I tried to contact the Greater Manchester police department without success.
    Maybe I´ll try again to contact them.

  4. Guys, there is no hope to recover your money because;

    UK government has been the most exploitive to the people of the world and now that their dirty hands are shortened from many countries, the same government gets along or creates firms like option500 to exploit even their own people.Unfortunately, in a monarchy like that British citizen don have even balls to protest like a semi-Democracy such as France

  5. Hi got caught by these scammers as well. All over the phone to me looking for more money. Only gave them a small amount but then they were looking for a copy of my credit card!

    I found this on the FSMA website in Belgium:

    The Financial Services and Markets Authority (FSMA) warns the public against the activities of Option500, a company that offers highly risky investment instruments in Belgium without complying with Belgian financial legislation.
    Option500 is not an authorized investment firm or credit institution in Belgium. It is therefore not allowed to provide banking and/or investment services in or from Belgium.
    Moreover, certain investment instruments that this company offers, i.e. binary options, are speculative and involve significant risks, with the investor in such products running the risk of losing the entire amount invested. The FSMA already published a warning in May 2014 about the risks associated with binary options.
    Finally, Option500 has not published a prospectus approved by the FSMA, as is required before any public offering of investment instruments may be made within the territory of Belgium.
    The FSMA therefore strongly advises against responding to any offers of financial services or to any public offers of investment instruments made by Option500 and against transferring money to any account number it might mention.
    Option500 claims to have its registered office in the United Kingdom (NWMS Center 31 Southampton Row, Office 3.11, 3rd Floor, London, WC 1B 5HJ). It uses the website (link is external), the phone number +44 2036958189 and the email address (link sends e-mail).
    It appears from its website that Option500 has ties to the companies Option Solution Group Limited (3rd floor, C&H Towers, corner of Great Marlborough and Great George St., Roseau, 00152, Commonwealth of Dominica) and Option Solution Online Limited (20-22 Wenlock Road, London, England, N1 7GU). Like Option500, the latter companies do not have the authorization required to offer investment services in or from Belgium and do not have a prospectus approved by the FSMA.
    On 5 October 2015, this company was the subject of a warning (link is external) published by the Cyprus Securities and Exchange Commission (CySEC).
    According to the information available to the FSMA, the Belgian financial consumers who invested with this company have to date been unable to recover the sums invested.
    The FSMA recommends vigilance with regard to companies such as this one which offer binary options or other risky investment instruments. Always verify that any company which is offering you financial services has the requisite authorization. For more recommendations, please consult the general warning published by the FSMA on 18 April 2016 on its website.
    If you wish to check in general whether a proposed transaction complies with the financial regulations, please use the search function (available in Dutch and French only) on the website of the FSMA. You can also contact the FSMA (email address: (link sends e-mail)).

  6. Right today its in news that South Koreas largest ICO is raided by police suspected for fraud.Now I definitely believe that UK Government is corrupt and benefiting along with option500 and many others

  7. I just wish these guy can be catch as soon as possible I tried to contact the police once, I was scammed in may/june 2016, around 5400 dollars, same people Eric Erricson with his promises, they close the account without me losin

  8. Guys, I can see so many scammed and screaming just like myself.
    I was told to transfer ethereum and receive E-Krona.All I received was a number “British pounds”.Now I am not even sure if I can get anything back.
    I am not living in first a world country.But I can tell you even if this sort of scams happen where I am, there is “Cyber Police” which we can all send requests to track these guys and return your money. I have collected all emails and screenshots of the process since yesterday.
    Is there any authority in a country like UK to deal with thieves or …..!!!????

  9. I cannot come over this. over and over I come to to my mistake giving this man much of real money.

  10. The same sh*t!

    4500€ + 2000€

    Far too much for only exploring.

    I wish I have read this before although I ´m not sure that it would have stopped me but I really think.

    So we are alltogether betrayed. “Carl Ericson” is a bad thieve. And SCAM, SCAM, SCAM!!!

  11. hi
    i have same problem with these thieves but i don’t know where or what to do …they are not answering me and the email is not exist…please i need help to claim them just to block there sites and if possible arrest them …

  12. James Shaw, Dawid Morgan, Kate Pearson, Sandra, Cobie, they all from option500 and a bunch of crooks.
    Do not invest any money please, they will rip you off. +442039363318 is the number they keep calling me from. Which I can get my hand on ALL OF THEM.

  13. Andy says:

    I have read with interest the complaints made against Option500 and realise quite clearly that I have been scammed by none other than Mr Carl Ericson. I am undergoing the same scenario as all the other complainants. Every time I asked for money there were a dozen excuses why I couldn’t get it back immediately, only a month later, as it was locked into a long term investment which had already generated profits/bonuses. When I asked if I could have some of that money I was told it was being reinvested… In short, stay away from Option500, you’ll lose your money. Fortunately I only invested a small amount but I pity those that went big from the start. I believe they’re a clever scam.

    1. I am in the same shoe, lost US $5500 today, same scenario and trick. Should have read this thread earlier. Sad.

  14. I have tried to contact option500 using 442036958189 but to no avail. I have emailed them dozens of time and they did not respond. I just ask for withdrawal but it seems I will not see my withdrawal return to
    Me. Does anyone know how to contact tjem using an alternative phone number

  15. I have been trying to get my money back for 2 and half years without success.
    Last week they rang me and tried to sell me more stuff but i said i want to get my money back and they agreed and then i gave them my credit card details.
    Well well well, they tried to take out 250 first then tried to take out 5000 without success or authorization when they were supposed to give me back 384.
    They rang me again the next night saying they were doing a survey when i let lose with everything i had. I think their legal team are now after me.

  16. Why do most people immediately invest so much money if you are not even sure if it is a scam or not. At least you’ve had to invest the minimum ammount in the beginning… in stead of 5000 or even 10000 .. people being to easy with money..

    I got a call yesterday from that company and the way he tried to make me immediately deposit 250 dollar and that I will be making lots of money with them he promised.
    I said : yes sir.. for sure. Good bye.

  17. My account started with OPTION500 on 13.04.2017
    My problems started on 28.04.2017
    On 08.04.2017 the big surprise that I lost my money with receiving just euro 2k from my balance account of Euro 22.454K
    °°°My contacts with OPTION500 are with :
    – Mrs Jessica Fisherman, her email is :
    her Skype account is : live:jessica.f500
    – Mr James Shaw , his mail is :
    his skype account is : james.option500

    and the number they are using is a UK no. +442036958189

    My details story is as follow:
    I had the same stories they have a nice a professional way to convince the person. I paid with my credit card in several time with starting with Euro 250 than some one will call you immediately to tell you that with this amount you can not earn something big and if you put more you will earn more so the same day I add it to my balance account of Option500, the 5K +2.5K +2K+2.4K so in one day I paid a total amount of Euro 10’150
    by 2 days later, my balance account of OPTION500, became more than what I put from my credit card with an additional amount of approx euro 7K more and every day the amount is growing .
    On 17.04.2017, I decided to transfer a part of my balance account for the amount of Euro 17K with leaving some amount.
    Mrs Jessica Fishman she is the one who is managing my account, she told me why I m transferring this amount, I replied to her, because I need to know, in how many days the payment will be back to my credit card .
    She said but why with this big amount you will loose the oportunity to increase your profit day by day. Just try with 50 Euro and control from your side in how many days you have it to your credit card.
    I cancelled my instruction of 17K and I made an instruction transfer for the amount of Euro 50.- and I received this amount in 3 days back to my credit card .
    On 20.04.2017 she came back to me with telling me, if you increase more you will double your balance in a short time.
    I told her that I can not more than 3K than she said try for 3.5K and it will be ok to increase faster your income I increased my investment with an additional of euro 3.5 K
    Now my total investment amount from my part is Euro 13’650.-
    All was going well with those bonus with increasing everyday your balance account .
    On 26.04.2017 again I gave instruction to transfer 30K back to my credit card always with leaving some amount in my balance account of Option500 but again Mrs Jessica Fishman with her innocent voice and question,, why you are doing this ? you still have time don’t worry in few days your balance will be more.
    On 28.04.2017 my balance amount went up to Euro 32’454.- and here I decided to do a transfer with the total amount of my balance .
    Mrs Jessica Fishman and Mr James Shaw came with the stories that I can not do it because part of this balance are bonus , you need to active your account and you have to do some bid by your self, so Mrs Jessica told me to do the follow, put on this currencies call on stocks etc …. until my balance account of OPTION500 became approx 8K.
    on 08.05.2017 after all those bids my balance account of OPTION500 became with an amount of Euro 22’489.-
    the same day on 08.05.2017 Mrs Jessica Fisherman called me early on my Skype trying to push me to do another bids with my balance of Euro 22’489 but this time, I was refusing to do it at all and I told her that no way to convince me because I need this money back to my credit card. than she realized that no chance to get an OK from me, in few second Mr James Shaw was on line and also he was with me instead of Mrs Jessica Fishmann with insisting again to continu with my bids to increase my profites etc…
    I explained to Mr James Shaw, that I would like to stop because I need my money back than later on, I will come back if all will go correctely with the transfer on time to my bank.
    And I sent a msg to Mrs Jessica Fishman to stop to send me another person to convince me,,, than she said Ok , open a withdrawal then for the entire amount of Euro 22’489.-
    I did this in few second, I received a confirmation mail that my instruction is under process than in less than one hour, I received another mail that my instruction of 2K is approved instead of my 22k , it was a big surprise to see that my instruction of 22k became 2K , and in 3 days later, I rcvd the 2K back to my credit card and here no one was replying to my calls and/or my skype calls.
    On 10.05.2017 one person from OPTION500 replied me from the skype account of Mrs Jessica Fishman but I could not get his right name.
    This person fromOPTION500, was very impolit with treating me as a stupid Muslim , as an Idiot Muslim and a stupid Arab knowing that my name is Tony and I speak 4 languages including the arabic.
    He was talking some bad words in Arabic about the Muslim and the Arabs and I was replying always to him with a respect with asking him why he is against the Muslim or the Arabs ,,,, than he realised that he was passing his limit on behalf of OPTION500 so immediately he replied, finish you lost all your money and he cut my skype conversation.
    The same moment on 10.05.2017, I had to go back to Mr James shaw again via his Skype account and I told him that I need the name of this guy who was talking without any respect to me ,,,but I was sure that he will never tell me ….
    Every day I was calling Mr James Shaw on his Skype account and also via the support telf of OPTION500 no way to have it on the phone but time to time he is typing on his Skype account that he is working on my file .
    After calling him on his skype for more than 2 days maybe more than 100 calls, finally he replied on his Skype account on 11.05.2017 please stop to call me, I M GOING TO PAY YOU THE REST OF YOUR MONEY TOMOROW.
    On 12.05.2017 at 11:30 my local time I called Mr James Shaw with a hope that he will respect what he said 24 hours before to me on his skypy msg . unfortunately he said , I will come back to you and he cut my conversation to avoid any additional questions . than no reply from him all the day until he cut my connection with his Skype account and he put me now on pending request because I was calling him each minutes …..

  18. Do take care of this company. They emtied my account without my permission, because I asked my 1000 euro back. Instead of paying back the tokk all cash on my account. For month I have tried to get my money back. Without any result other than using a lot of time. Person who did this crime is Mr James Sham. I was told of Mr Carl Ericcon that I could talk with him, he tiod me hi is a boss and we could talk at Skype, but he never accepped my request. Over last month I have mailed and phoned. Without answer at all. Last days I had the contact via the website with person Lola Davis. Was told I would for sure be contadte 3 times. I was not contacted. Last 3 days I can have no contact this way neither. Noone to contact. I have informed the police in England, Scotland where the official address is, and they have promished to take action.The story is much longer. I warn hereby everybody to deal with this smart Scamcompany and continue my efforts to get the responsible jailed. Mr James Shaw and MR Carl Ericcon .

  19. I have been trying to withdraw my money for over a year, it is a big big scam, I wish someone would close them down.
    Can’t call them on numbers does not exist, can’t log into your own profile or account….. or no support on e mail – ignore ignore ignore

  20. Hi there,

    i am going through that maze with them. they are totally ignoring all my calls & emails.
    i will try my best to return my invested money back.

    those guys are bunch of thieves.

  21. Hi there.

    I am right now experiencing something similar with the same broker and same person! I can even attest to the fact that they can make fraudulent copies of documents as they even produced a fraudulent copy of a document that I didn’t even sign!

    No trading has been made on my account and Carl Ericsson has even said I cannot take out my money out of this brokerage because there is a bonus amount that was deposited with it. I said if that is the case, they can just keep their bonus and give what I deposited back.

    Still, he insists he cannot do it and wants to “trade for me” but I told him them not to touch what I deposited. I am asking what should be next steps. I may have to go to my credit card company.

  22. hello i have been ripped – scammed bycarl ericson and option500 please help.

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