For Immediate Release - bocapital.com and traderxp.com Scam Revealed!
April 26, 2013 - This all started when I opened an account at traderxp.com, a binary options company, in November 2012. I immediately had problems with their platform as I wanted to trade currency pairs and their system did not allow currency pair trading in the US even though their web page stated it did. It was not until I had already made a deposit and tried to execute a trade that I got an error message stating the trade was not allowed in the US. This is extremely deceiving!
I immediately called John Reily with Traderxp.com and explained I wanted to trade currency pairs only and I wanted a refund. Of course, this is when the run around started.
He told me they were coming out with a new platform at bocapital.com that would allow forex trading in the US. He said he would transfer my balance over to bocapital.com. I agreed and when I started using bocapital.com I found it to be extremely slow and it would lock up completely after each trade. I would have to reload the webpage after each trade. Even with all these problems, it was still barely usable, so I continued to trade. I decided on April 13, 2013 to do a trial withdrawal and I haven't received the withdrawal or any kind of response to by support requests since. It seems that bocapital and traderxp.com are one way systems - you can deposit, but you can't withdraw.
Beware of bonuses... it seems there is a scam within a scam when it comes to bonuses. Say you deposited $1000 and received a $1000 bonus. It would seem that you could withdraw your $1000 deposit money at any time as stated in their terms. But if you take the bonus, they require that you trade 20x the deposit plus bonus before you can withdraw anything. i.e. the example above, you would have to execute trades of $40,000 with just a $2000 balance in order to make any withdrawals. In other words, you're no going to be making any withdrawals.
These are definite scam operations and you should avoid them at all costs!
If you have been scammed by these companies, please contact the FBI internet crimes division and file a report today at http://www.ic3.gov/default.aspx