Zoom Trader Complaints, Reviews, Scam and Fraud Reports

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Corporate Information

Business Name: Zoompartners Ltd.
Category: Stocks / Trading
Complaint Directory: View Listing
Corporate Address: Diagorou 4, Kermia Building 6th floor, Office 601 1097
Nicosia Cyprus

Phone Number: 203-642-4727
Email: support@zoomtrader.com
Company Contact: Jack Moore - Owner
Website:
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Ratings Damage Reports For Zoom Trader

Customer Loss Data

Total Reported Consumer Losses:
$694,425.00

Average Reported Loss Per Consumer:
$138,885.00

Consumer Ratings Data

Average Rating: 1.25 of 5
Based On: 5 Reviews / Complaints
Number Of Comments: 33 comments

Most Recent Complaint About Zoom Trader

Withdrawal yet to be credited

I deposited $400 from my credit card to Zoom Trader to do some binary options trading. Before starting trading, I wanted to see how flexible they are when it comes to withdrawal of money.

After waiting for a week or so, I placed a withdrawal request. I gave them all the necessary documents to process the withdrawal request.

After sending e-mail after e-mail and by talking to the Account Manager by the name of Ana, they processed the withdrawal request at their end. At least it looks like they processed it when I log in to my account at Zoom Trader.

But money is still in my account at Zoom Trader and my credit card is yet to be credited. I am not sure why the delay is. 2-3 weeks have gone by after placing my initial withdrawal request.

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Official Responses from Zoom Trader

By: James Thomson On: April 15, 2013

My name is James Thomson and I am the communications manager for ZoomTrader, I would like to be given the opportunity to respond to this accusation. We offer all first time depositors a 50% bonus on what they deposit, as is clearly stated on our website. Obviously there are terms and conditions attached to this; if there weren’t then many people would obviously take our 50% bonus and disappear with the money. Most of our users happily accept our bonus; who would turn away free money? The condition for accepting our bonus is that the user must trade with a volume of 40 times the value of the bonus before they can withdraw. This again, is clearly stated in our terms and conditions. It is entirely possible for anyone to reject the bonus at any time before they begin trading. If the bonus is removed before they begin trading, the user may withdraw at any time.

I feel it is entirely unfair and slightly ridiculous for someone to accept $500 free money, to blatantly ignore our terms and conditions, and then label us a scam artist when they lose their money. It is no secret that binary options trading is a risky business. The rewards however can also be great. We are not a scam company; we are in fact one of the largest and most successful binary options platforms available online right now. We cannot and we will not be held responsible or made to look bad because of the irresponsible actions of an angry user who lost his money.

Many thanks

James Thomson – ZoomTrader Communications Manager.

By: On: November 8, 2012

Dear Sirs,
I found two false reports about our company. These complains are made by
one person who uses different fake accounts. He is trying to ruin our
reputation and therefore I would like to ask you if there is any way that
our company can respond to that not only by responding to his comments but
to remove his posts as it creates negative image of our company. We already
contacted the person, however, we were not succesful in this matter. The
information he provides in his posts are completely false and he cannot give
you any prove of information he claims. The names which he is using are not in our database and we have never had anyone who would deposit this amount of money and won this this amount of money. Therefore I would like to ask you if you can please investigate these reports further and contact me directly.

Regards,

User Thoughts About Zoom Trader

33 thoughts on “Zoom Trader

  1. Jas & Neera 13hi13@gmail.com
    4:34 AM (6 hours ago)

    to Caroline, Support, john
    I need my all deposits refund, I have stop reply my email and phone call. Zoom Trader have scam me. I will take action. My Lawyer will call you next time. or please try to fix the problem in house.
    and refund my money on both account 13hi13@gmail.com and jas@realindicators.com
    Please watch
    https://www.dropbox.com/s/abm0bbmwxfq0qhm/Zoom%20
    https://www.dropbox.com/s/se3p6v7imout1t3/ZoomTra

    Caroline have been call me and reply my all email, when she need deposits. When I need help for Scam, she never call me ans reply my email. I had left the many messages and send her many email. She did not call me or reply my email, next step I will take this mater to law of court.

  2. Just lost $200 at Zoomtrader. A pop-up would come up and say we took this position off because of high risk, WTF? The good obvious positions I wanted to trade on all had these pop-ups come up. Don't invest there!

  3. Didn't notice any scam from their side. Yes, bonus system is tricky, but if you actually read terms and conditions you'll quickly notice this line. I asked my account manager to remove the bonus, they did it and I successfully withdrew my money.

  4. I also have been scamed by zoomtrader for 200 dollars on the 08/06/2013 I would not go no where near this company and some one will go jail fro this fraud. p.s it's not a company or a business it's just a loser theif and his loser friends and family somthing to be proud of. good work zoomtrader and the word scam mean the same thing.

  5. I have been reviewing binary brokers over at investhing.net and what everyone says here is pretty disturbing, has anyone had a positive experience with zoomtrader?

    • the company is now on another address. I started with 100€, once I had 300€ i transferred the first 100€ back to my account, no problems here. Now i'm 3 months furter and I transferred up to 17000€ to my bank, still no problems.

  6. Thanks for your review. I was just one step away to give them money. You complain survived me. Thank you very much indeed. I hope the best for you

  7. holy s**t – i had my credit card in hand ready to enter the digits when something clicked in my head and said google the reviews on this site and here i am. thank you all for your postings. please know that you are saving others from making this regrettable mistake. you have my eternal gratitude.

  8. Couple of my trades went missing after i've won it. last time, never again. still got some dough in account but those wankers can keep it if they want (maybe go buy a 23 cent bodygaurd for all the people who want them dead). 50k sounds nice, wish I knew where they were.

    • This happened to me. All of my trades that I should have won would freeze to the last second. Once it expires, the numbers show that I should have won them. The software is geared that no one gets their money. When I tried to withdraw, I felt like I was entering the Customs through the airport. Yes, they are scammers and people need to stay away from zoom trader.com. There are good reputable companies out there, which are based in the U.S. and regulated. Many of these outfits are not regulated. Google and do your homework first on a particular company, before you start.

  9. Did you people really expect making money to be this easy? Your’e too stupid to have money. I’ts just the natural order of things. Anyone with any intelligence can see that it’s too good to be true. Come on people try not to be retarded.

  10. What do Zoom Trader gain by the extra time after the expire time? It seems like a stupid scam -nobody gains & everyone loses. The principle they use is standard stock market gambling. I would see this as a situation where the host company's computer system is useless similar to the IT problems suffered by some of the Natwest group in 2012. Always remember the phrase "To err is Human, to f**k up totally you need a computer".

    The person who doesn't want to talk about it, should talk discuss it & try to get your money back, if Zoom Trader is a legitimate company they will help you out, if not take down what was said & use the phone on speak with somebody in the room.

    Zoom Trader needs to implement the 5 E's for customer service with their front line staff & don't get so worried about one customer if there is a problem resolve it fast & get them gambling again. Percentage fees on winnings would bring in more income with less wasted energy than wrestling for a deposit that could cost you a fortune in the long run.

    It is gambling.

  11. if you look at it from a business perspective, the website offers free trading with no commissions, no spread, and no fees. Commissions, spreads and/or fees are the only way a legitimate online brokerage can make money. Otherwise they are offering a trading platform and software completely free. No one would do that. I believe it is a scam for these reasons alone (not to mention the scathing reviews from this site).

    I'm just glad that the people who have posted here confirmed my suspicions. I'm sorry you guys lost your money and hopefully their will be legal action against these people. I am angered that they are currently still able to take advantage of people, I am no lawyer but I sure hope someone stops these guys!

  12. I agree Totally with you guys….Zoom traders are a total scam and I lost $100 myself. The just make sure you lose far more than you can win. When i discovered this I tried to withdraw the rest of my money but they refused claiming I had 'accepted' a bonus (which I never even knew about talk less of accepting). The suggested I should carry on trading so I can lose the remaining money and that's exactly what happened…..My advice to anyone interested is STAY AWAY FROM ZOOM TRADERS

    • Have you ever wondered what happens to your money when you lose it? I think they gain your loss money and that's how they stay in business since apparently, everything is "free".

  13. I have noticed that zoomtrader is scam too. Just in the last second the price goes up or down and you lose money. Its their software system that makes those moves. In forex trading these scam systems modify the spread that goes up to insane figures.

  14. JACK MOORE AND ZOOM TRADER IS A HUGE SCAM – DONT EVER TRUST THEM OR USE THEIR SITE – FULL OF CRAP AND PROMISES THEY CANNOT KEEP!

  15. The ZoomTrader management takes all complaints and feedback seriously. Zoomtrader use the leading binary options software from Tradologic.

    Any issues with prices shown ,errors, faults, delays or other on the site, which we must say are extremely rare are forwarded to Tradologic with immediate effect. Tradologic will investigate all matters and where necessary will resolve the issues through their 24/7 technical support centre.

    Our software provider works closely with Bloomberg and Rueters and are able to obtain market expiry certificates to show the exact closure time as shown on the ZoomTrader site for any given asset at any time.

    We regret if you have had an issue and will look into this matter urgently and provide you with a detailed outcome.

    A message to all our loyal traders is that if on the very rare occasion you have an issue relating to markets then please send an email to support@zoomtrader.com and mark the subject line as 'Urgent Tech issue' this will then be dealt with as a priority. I must re-iterate that this is extremely rare.

    Whilst we take all claims seriously, There are sadly some traders who have lost fairly but feel the need to 'complain' just to get a free bonus or a refund. As our terms and conditions state, if a trader is considered to be abusing the system and making false claims on purpose then we will terminate their trading account.

    We can assure you that we have thousands of satisfied traders who trust ZoomTrader as the home of binary options trading.

    The management will end by thanking all its traders for their time & patience and we wish you a successful trading quarter to end 2012.

    With best wishes

    The ZoomTrader Management

    • BS – You are a liar and a SCAM Jack – You KNOW it and SO DOES EVERYONE else – you are full of S**T

      STOP STEALING PEOPLES MONEY !

  16. Jack isn't the owner of that scam website… its a fake name that they're using.

    soon i will post the real names, address , phone numbers, their facebook , everything , im waiting for my money and they are holding it….

  17. zoom trader and jack moore are thieves. They stole $647,325 from my deposit and profit. DO NOT TRUST THIS GUY OR WEBSITE.

  18. just found this page – i agree that jack is a liar and zoom trader is a scam and cheats

    they never pay out and force people into bonus scams that put them into debt or loss.

    he cannot be trusted and he has never fixed the problems that i have also encountered

    someone should close them down.

    i am disgusted that Reuters allow them to use their name and other brands on their site

    ZOOM TRADER IS A SCAM – STAY AWAY

  19. I also got scammed by Zoom Trader and jack who called me with all the big talk but was not able to provide a professional service or a site that was honest and reliable.

    Zoom Trader has a system where you place a trade and a clock begins to count down to the expiration. When the clock ticks to zero, you should be awarded a win or suffer a loss. After the clock ticks to zero, you see this, "Expiring…" for at least another 30 to 60 seconds. During that time, if your trade was close, the stocks move just enough for you to lose your money.

    I reported this problem to Jack at Zoom Trader and received an email acknowledging the expiring problem and a promise it would be fixed. It was not and I lost my money. When I brought this to Jack, even though in his own Terms & Conditions I should have received a refund, he refused and lied to me continuously, and finally in an email at the end of a long succession of pleading for me to speak to him over the phone where it would be my word against his, he replied with this:

    In a message from scam artist and con man Jack (jack@zoomtrader.com) writes:

    "Again, just to make sure you have understood, it does not matter what it looks like to you when its expiring, what matters is the expiry price at the time of the close."

    And unfortunately, the customer has no way of having an exact time for the trade to expire because the clock goes to zero, but Zoom Trader keeps it open until it moves to where they get your money. I urge all who have been affected by this to please come forward and report them and spread the word about them so others are not cheated out of their money!!!

    If I win at the time of the expiry then i should not have to wait a further 30 – 50 seconds. Having spoken to Tradologic, the platform developers, i was told by their tech team that expiry is in realtime and instant. The minute the expiry time comes, you should be paid out at that very second and not have to wait longer.

    Zoom Trader and Jack have either altered their platform or have changed their expiry times to make sure they always win.

    DO NOT TRUST A SINGLE WORD JACK SAYS. ZOOM TRADER IS A BIG SCAM!

  20. After opening an account with a rep name Jack, I noticed that the web site used to track my trades was having issues with the trades actually expiring 30 to 60 seconds AFTER the time had run out to zero. During this extra expiry time is when the strike amounts would move and I would not be awarded my winnings if they moved just enough for me to lose. Then the site started slowing and freezing so that I could not see my trades, track anything, or see information regarding possible trades. After emails to Jack regading the web site, I received this reply:

    " In a message dated 8/22/2012 10:54:35 A.M. Pacific Daylight Time, jack@zoomtrader.com writes:

    Hello,

    we are working on a complete solution to this matter which will be published tomorrow. Please be patient as it will be fixed soon and all of the trades will expire correctly.

    we are sorry for the inconvenience caused by this matter.

    Regards,

    Risk Management Team"

    However, the solution was never published, the site continued to have problems with expiring long after the clock went to zero and I lost over $1375. In reporting this to Jack, his reply was:

    "8/29/2012 2:39:01 P.M. Pacific Daylight Time From: jack@zoomtrader.com

    yes of course,

    unfortunately its only you who has had a bad experience and for this I must apologise, this isnt the way we run our company, we are a very professional service, last week was a one off thing which will not happen again.

    Is there anything I can do for you?"

    This is when Jack began to tell LIE after LIE…

    My reply… "By your previous email about the technical issues with the site not expiring correctly I'm absolutely certain that I am not the only one who has had the issue of trades not expiring correctly as I described. Otherwise your tech team would not have had to work on the problem to be published on 8/23."

    Jack's reply:In a message dated 8/30/2012 11:23:42 A.M. Pacific Daylight Time, jack@zoomtrader.com writes:

    "We have been through all of the trades that were affected during this time and if a client deserved a win we gave it to them. If you think you have some trades that were affected then please send me the trade ID numbers and I will have them checked for you.

    Thank you."

    My reply: " I see. So when you said, "unfortunately its only you who has had a bad experience" you were not telling me the truth. So there really have been others with the same issue you needed to check."

    Jack's reply: 8/30/2012 1:45:41 P.M. Pacific Daylight Time From: jack@zoomtrader.com

    "The site was down for a few minutes the other night and it affected 3 people on our system, one person should have been recorded as a win but it wasnt so we gave him his winnings, Your trades will also be checked against our records and I can send you a full report showing you all the closing prices and we will see if you should have won or not.

    If there has been any mistake we will happily refund the money to you.

    Thank you for your patience."

    Then I reminded him of the email where his "Risk Management Team" admitting there was a problem with the trades expiring incorrectly. Then came a barage of antagonistic emails where Jack was caught in lie after lie. Jack strongly urged me to have a conversation with him over the phone to "explain" but more like argue and antagonize me as to why he was refusing to refund my money based on his web site problems costing me money.

    My reply: " Actually Jack, I will not speak with you but at this point want everything in writing. If I speak to you without a witness or a recording of the conversation, I have no proof of anything you say. I can see no reason for a personal conversation except for you to try again to convince me of the problems of the web site and how you claimed that others were awarded wins but just not me. "

    Jack's reply:" Hi Tammy,

    With all that considered Id appreciate it if we could speak on the phone in order to allow me the chance to discuss this with you.

    You are making serious claims of which I need to address each one fully with you and if you are interested in drawing a line under this whole experience im sure you will not decline this conversation.

    Many thanks, and I look forward to your response.

    Jack."

    And from Jack again:

    "Ive now tried calling you three times and still no answer."

    My reply: "You just keep lying to me over and over. Now you know why I have no intention of speaking with you. You just lied in your email about the number of calls you made to me, of which my phone records prove, how many more lies would you tell over the phone that I wouldn't be able to prove????"

    Then came Jack's reason for not refunding my money..:"I can refer you to paragraph 16 in our Terms and Conditions which states '' We shall not be liable for any loss suffered or incurred by you unless and to the extent that such Loss is suffered or incurred as a result of our negligence''.

    My reply: "Jack, I'm tired of your stupidity and games. I've told you what I want based on EVIDENCE and ACCORDING TO YOUR OWN TERMS AND CONDITIONS which you just provided to me apparently not realizing that your company admitted there was a problem with the expiries and that there would be a solution published "tomorrow", and based on what you just provided me I should have been given a refund."

    And Jack contiued to beg me for a personal phone call so he could "explain" everything and come to some kind of compromise. Yet, even though I had provided extensive documentation from him regarding the web site having trouble and he and his company's admissions that there was a problem not just with myself but others, Jack determined that none of the problems affected me, just others. In a detailed email on 8/27/12 I send him the exact information regarding the extra expiring times and what it cost me. He still refused to refund my money.

    Per Jack at Zoom Trader:Date: 9/5/2012 3:29:11 P.M. Pacific Daylight Time From: jack@zoomtrader.com

    "I have decided not to issue a refund in this case as there was clearly no problem with your trades and all the trades you told me to check all finished with a loss. Again, just to make sure you have understood, it does not matter what it looks like to you when its expiring, what matters is the expiry price at the time of the close."

    What this boils down to is when you trade with Zoom Trader you have a clock that times your trade. What the strike amount is at the end of that time going to zero is what SHOULD be the number that decides if you win or not. NOT WITH ZOOM TRADER!!! AFTER THE CLOCK TICKS TO ZERO YOU SEE THIS: "Expiring…" WHICH THEN CONTINUES FOR A MINIMUM OF 30 TO 60 SECONDS. AT THE END OF THAT TIME IS THE NUMBER ZOOM TRADER USES TO TAKE YOUR MONEY.

    PER JACK: " you saw that you were in the money but when it closed finally it was recorded as a loss".

    PER JACK OR HIS RISK MANAGEMENT TEAM:

    "Hello,

    we are working on a complete solution to this matter which will be published tomorrow. Please be patient as it will be fixed soon and all of the trades will expire correctly.

    we are sorry for the inconvenience caused by this matter.

    Regards,

    Risk Management Team"

    AND AGAIN PER JACK:In a message dated 9/5/2012 8:07:04 A.M. Pacific Daylight Time, jack@zoomtrader.com writes:

    " in your case your trades were recorded as a loss and were not affected by the disruption on the site, you seem to be referring to another problem of expiry.

    It does not matter what you saw at the time of expiry, the only thing that matters is the price recorded at the split second of expiry which is recorded on our system as you've seen, so just because it showed that you were in the money near to the expiry time it still does not mean that the market didnt change split seconds before the actual expiry time and therefore you happened to finish that trade as a loss."

    So even though Jack and Zoom Trader acknowledged the problem with the trades expiring incorrectly and promised a solution that never came, and according to Zoom Trader's own T&C, Jack still refused to refund my money.PER JACK AND HIS FINAL DECISION NOT TO REFUND MY MONEY:

    Date: 9/5/2012 3:29:11 P.M. Pacific Daylight Time From: jack@zoomtrader.com

    "I have decided not to issue a refund in this case as there was clearly no problem with your trades and all the trades you told me to check all finished with a loss. Again, just to make sure you have understood, it does not matter what it looks like to you when its expiring, what matters is the expiry price at the time of the close."

    LIKE JACK AT ZOOM TRADER JUST ADMITTED, THE TOOL YOU USE TO DECIDE IF YOU WANT TO TRADE OR NOT BEING THE CLOCK THEY PROVIDE AFTER YOU POST A TRADE, IS NOT WHAT THEY USE TO DECIDE IF YOU GET YOUR MONEY OR NOT!!! THEY EXTEND THE TRADING TIME BY AT LEAST 30 TO 60 SECONDS OR MORE, WHILE THE STOCKS STILL MOVE DRAMATICALLY, CALLING IT AN "EXPIRY" UNTIL YOU ULTIMATELY LOSE YOUR MONEY. WHEN BROUGHT TO THEIR ATTENTION LIKE I DID WITH JACK, THEY LIE, ARGUE, ANTAGONIZE, AND TRY TO MANIPULTAE THEIR OWN TERMS AND CONDITIONS, WHICH WERE VERY CLEAR I SHOUL HAVE BEEN GIVEN A REFUND, TO SAY YOU JUST DON'T GET YOUR MONEY BACK. THEN THEY TRY TO GET YOU TO SPEAK TO THEM PERSONALLY SO THAT YOU CANNOT PROVE ANYTHING.

    STAY AWAY FROM ZOOM TRADER AND SPECIFICALLY A REP NAMED JACK!!! THEY ARE A HUGE SCAM OPERATING OUT OF NUMEROUS COMPANIES!!!