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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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I have recently contributed some funds into a Binary

Customer Question

I have recently contributed some funds into a Binary Option Trader scheme by wire transfer from my current account. However in order to protect myself from fraud I proposed to pay from a credit card.
Even though the trader specified that payment could be made by credit card their website does not allow this and instead trying to alleviate my concerns they now have issues a TCR proposal for me to sign. The TCR would run from17/02/2016 to 17/2/2017 and purports to legally refund any loss of capital and will be obliged to refund the entire amount back into the verified account of the invested client within 3-5 business days.
It also indicated that should I withdraw funds during the initial year the client would be entitled to no refund and the TCR would be cancelled.
Would The TCR have any legal substance even if had not withdrawn any funds?
I am reluctant to invest more funds by wire transfer and when I attempted to withdraw a small amount I could not do so through the website. Is this a scam or can I protect myself with the TCR and how could I securely withdraw my contributions?
I would appreciate views on this situation and any guidance on ways to protect my account.
Thank you -John
Submitted: 2 years ago.
Category: Law
Expert:  Nicola-mod replied 2 years ago.
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you with this.What is a TCR please?Alex