I am Marwan Askar from Dubai, UAE.I have been a member of Trade-24 since Oct 6, 2015. At the time of registration, the sales person on call advised me to deposit $ 1500 as he talked a lot about his company’s advantages and how they can benefit to increase my money at a profitable deal. The company promised to appoint me an account manager who would take care of the follow up on my account and update me the market status. As I had deposited the money online and owned an account instantly, it supposed to have a welcoming mail stating my account No., username, password but, unfortunately not.
Till I remind the sales person to send it. I did change the given password svc tried to access with my password but System also don’t accept new password even old one, really it is a funny system, it took one week to sort it out and a couple of days later the company offered me a 100% bonus on my principle account. The company executives informed that I could withdraw my money and any profit except the bonus as it is conditioned to achieve the targeted trade volume which is too high comparing with other brokers, I agreed. A week later the account manager opened 10 deals on my behalf and caused me a loss of $ 370. I tried to unhinge my account from him and started to work on it on my own.
I started to open deals myself and gained $ 5900 within one and half months. During this period, I explored the following:
- I didn’t receive any mail from this company as a notification or a market update.
- I submitted a withdrawal request of $ 500. It took the company more than 15 days to respond in spite of calling and sending a reminder mail. The company’s negligence is horrendous.
- Out of 10 calls, the receptionist answers one. If looking for the account section or an account manager, all they do is respond negatively. Eventually, I got back the $500.
- After one and a half months, I started the work again. I achieved equity of $6900 (including the $1500 bonus, $1000 my remaining principal so $4400 was my net profit). Based on that money I decided to withdraw $2000 from my account, they said I’m eligible to withdraw only 1000 so they requested me to send another withdrawal request of $1000, I did accordingly and at that moment they had intend to apply their rule to close my account and took all my profit and keep only $1000 in my account to avail it for withdrawal.
- Yes, really my account had been closed and I was really surprised. I got shocked that the company had closed my account and took profits completely.
- I believe that any professional company will apply their terms and condition on clients by sending them a warning letter just to ensure that the customers are aware of the norms where the rule was that If you withdraw all your principle then you will lose all your profit. Horribly wrong. But this company didn’t send any such warning in spite of several request and call in this regard by me.
- This company is playing with charts, proof which I will be displaying later in this post. I have placed pending order “buy stop” and requested system to activate it @ a specific rate but I had activated below this rate and cause me loss of 339$.
Here are the two cheating proofs of which I took screenshots so that I can share with the people who even think of working with them or trade with them.
Cheating Proof 1:
a. Open Transactions
b. Pending Transaction
c. Pips High
d. Equity: $1000
Remaining Principal 1
e. Remaining Principal 2
f. Remaining Balance
g. Balance was -4,402
h. Account Zeroing
I hereby decided to report this company as a cheat. The account manager Mr. Emil closed my account and gobbled all my profits without even asking for my permission or warning me by mail
I called the London branch several times. The answer I received was the same. The company was to suppose to look into my case and then respond. It never did. This simply makes the company a fraud.
Here I advise everyone Before signing any agreement with this company
or paying money online to think about it, it is advisable to enter into a New Member Agreement and read all the Terms and Conditions properly. I was not aware of the fact and neither did the company offer to elaborate on this matter. I advise everyone to be careful in dealing with this company. I will not accept what it did to me. I am surely suing this company to higher authorities in the finance department of the country.
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