Topic: Scam Alerts
I thought such a thread can only help.
The Commodity Futures Trading Commission (CFTC), the US financial regulator, announced that a US federal district court has unsealed a civil complaint of the Commission against two Israeli-based binary options brokers – VaultOptions (Vault) and GlobalTrader365 (GT 365). The CFTC claims the two companies have illegally solicited and defrauded 50 US customers of $1 million. Furthermore, VaultOptions and GlobalTrader365 do not have a registration as Futures Commission Merchants.
The CFTC complained that since at least October 2012 and continuing to present, the two companies operated websites for trading in binary options on forex pairs, commodities and stock indices. By US law such transactions must be carried out on a registered board of trade. Neither VaultOptions, nor GlobalTrader365, however, have been properly registered.
Worse still, the two brokers have cheated at least 50 US customers out of a total of $1 million. The scammers claimed the customer funds were insured against loss, made them pay additional fees before the initial funds could be returned and misappropriated customer funds.