TopOption got their license taken away!

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News: TopOption got their license taken away!

We don’t like the broker TopOption anymore, as we’ve informed you two weeks ago in the article ‘3 reasons why we do not recommend trade with TopOption.’ The reason is simple; the broker is just not offering such quality as before.

Better said the broker is not good at all.

A few months ago the broker changed its owner and this new company (LeadTrade) probably doesn’t have the best intentions with the traders. Since the time the company management has changed I certainly do not recommend to register and to trade with this broker. This is also the reason why we’ve included this broker in our newly formed and still expanding a list of non-recommended brokers.

Fortunately, more and more people, websites all around the world and even CySEC begun to notice this problem. CySEC has released an official statement a few week ago (you can find it here) where they inform the public about what has happened and that the license of the company LeadTrade was removed.

Broker Status Withdrawals problem Scam phone calls Still in business More information
SCAM Yes Yes No NOT RECOMMENDED
More information

Why did they lose the license?

The truth is, that the company LeadTrade still has the license, but the license is suspended for the period of 10 days. Within that period the company has to fix all the flaws requested by CySEC. During those 10 days the broker among other things cannot:

  • Let any new client open its account
  • Let any trader trade
  • Pay immediately all the traders when requested

If the company fails to do so, it is possible that their license will be revoked for good. I would be happy because it would mean that my wish came true and this fraudulent broker will end. We will surely get back to you with the latest information.

What to do if you already have an account?

If you already created your account on the site of this broker, I recommend you the following:

  • Immediately request the withdrawal of all your money that you have on the account
  • When you receive your money on your bank account request the support to close your account
  • If you wish to continue trading, choose another broker. You can use our list of recommended and tested brokers.

I don’t think that they would steal all your money; it would be a huge fraud and a huge issue for them. However, something similar has indeed happened to one of our readers, so there is really nothing about TopOption that would surprise me. I think that the best is to withdraw all your money without any hesitation and to close your account.

Author

More about the author J. Pro

Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn’t very successfull with dropshipping on Amazon and other ways of making money online, and I’d only earn a few hundreds of dollars in years. But then binary options caught my attention with it’s simplicity. Now I’m glad it did because it really is worth it. More posts by this author

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One Response to “News: TopOption got their license taken away!”

They got what they deserved. I recently got my funds from this scam broker. So sad that brokers all over keep getting away with this. Glad i’m out of this loophole, happy to share my experience.

DOR/CSE can enforce child support by having your licenses taken away

If you do not pay your child support, the Department of Revenue Child Support Enforcement Division (DOR/CSE) can have your licenses taken away. This includes your:

  • driver’s license,
  • business license,
  • professional license, and
  • trade license.

“Taking away” a license includes

  • suspending,
  • revoking,
  • not issuing, and
  • not renewing the license.

The warning letter tells you to:

  • pay all the past-due child support you owe and pay your child support on time; or
  • make 4 regular payments that are 25% of your past-due child support and pay your child support on time; or
  • contact DOR/CSE to make a payment agreement; or
  • request a hearing within 30 days.

Important

  • you have custody of one of the children you were ordered to support;
  • you are on public assistance; or
  • you get Supplemental Security Income (SSI) and have no other income.

Why would I ask for a hearing?

Ask for a hearing to show DOR/CSE why you do not owe past-due child support.

How do I ask for a hearing?

If you need a hearing send a letter to DOR/CSE and ask for one. Send your letter to the DOR representative that sent you the warning letter or to the Customer Service Bureau, P.O. Box 7057, Boston, MA 02204-7057.

If you do not do any of these things, after 30 days DOR/CSE can send you a Final Determination of Delinquency.

The Final Determination letter says that DOR/CSE has told the Registry of Motor Vehicles or other licensing authority to take away your license.

You have a right to a hearing if DOR/CSE sends you the warning letter about taking away your license.

You have 30 days from the date on the warning letter to ask DOR/CSE for a hearing.

The DOR can also have your licenses taken away if you do not obey a subpoena, warrant, or summons in a paternity case or a child support case.

What happens at the hearing?

At the hearing, you must show that

  • You do not owe any past-due child support;
  • You are not the person who owes the past-due child support; or
  • You currently obey a payment plan approved by DOR/CSE.

If you have a hearing and DOR/CSE decides that you still owe the past-due child support, they will send you a Final Determination of Delinquency.

What happens if I get a Final Determination of Delinquency?

The Final Determination of Delinquency says that DOR/CSE told the Registry of Motor Vehicles or other licensing authority to take away your license. See a sample Notice To Suspend License or Certificate.

After they get the notice from DOR/CSE, the RMV or other licensing authority sends you a notice say they have taken away your license.

What can I do if I disagree with the final decision to take away my license?

You can have a court review DOR/CSE’s decision.

If you do not agree with DOR/CSE’s decision to have your license taken away, you can ask a court to look at DOR/CSE’s decision. This is called “judicial review.”

Judicial review is a complicated process. Talk to a lawyer to find out about judicial review.

To get a judicial review, you must file a Complaint for Judicial Review within 45 days of the date on the notice from the licensing authorty that it has taken away your license.

The complaint is against DOR/CSE, not against the licensing authority.

If someone got their license taken away for speeding 100mph in a 55mph zone how long will this affect their insurance rates ?

Wiki User
July 16, 2020 6:17PM

100 in a 55. Personally, I hope you never get your license back!! Please sell the car and forget about buying insurance.

Normally speeding tickets stay on your driver’s license record for three years. Everything depends on your particular carrier and how often they check your record.

Each insurance company has different internal policies and they depend on your particular situation. If you are a teenage driver or own a sports car or drive a comapny vehicle then you can expect them to check every year before renewal.

If you have been with them for a number of years and have a clean record, they may not check at all unless you change insuance carriers.

Typically just one minor speeding violation could result in a 25% increase in your insurance premiums so it pays to contest every speeding ticket.

Your first concern should be when will you get your license back.

After your license is revoked, you will have to wait 6 months or a year or something before re-applying. When you do re-apply, they will consider your crime and may choose not to give you a license (but they will keep the application fee).

They can keep denying you for as long as they wish, depending on the severity of your crime.

Only then will you need to worry about insurance.

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