fireiceviper
Private
- Messages
- 17
I have been Trading on Trade.com since last month (the end of October) making some good profits on Bitcoin cfd's and Bitcoin cash cfd's, but noticed they where increasing my spreads to beyond reasonable.
After complaining and having my spreads increased yet again I decided it was time to call it quits so i requested a Withdrawal ... that is when the problems started. I did my request for 8000 euro on the 10th of november, on the 15th i received a message that my account was "under investigation" and my account and withdrawals are suspended.
At that point you can try and mail them back or call support (don't try to call your account manager he will no longer pick up...) they will either not respond or say your account is still under investigation and you will hear back once the investigation is finished.
On the 17th of November i contacted support again and they told me they could transfer some of the money if i gave them my bankstatement.
Also on the 17th of November I filed an official complaint with Trade.com compliance department (filled out the form and sent it per email) and I also stated that "I will file a complaint with the Financial Ombudsman of the Republic of Cyprus and to regulator CySEC. Wednesday 22-11-2017 (7days since my first reply) I will be opening a case with the Forex Peace Army Traders Court and we can continue this discussion over there."
(also i could not enter my account on the site anymore, the next day i could)
On the 18th of November i had enough and tried to withdraw the remaining money.
On the 20th of November i received a notification that 4800 euro has been sent to my credit card and 600 to my bank account. This was my initial deposit and the money did arrive.
On the 22th of November i contacted support again and decided to give them a little bit more time to sort out the mistake they had made ( in my innocence...)
On the 24th of November i received confirmation that my official complaint had been received, but they did not include an official complaint number.
On the 27td of November i received an email from the same person who put my account under investigation in the first place referring to https://www.trade.com/en/terms-conditions points
19.3 (using software) (nope) and 19.4 (Internet, connectivity delays, and price feed errors) (also a big fat no)
and also refering section 8 of the Terms and Conditions regarding Cryptocurrency Products that basically states:
"any complaints that you may have or any disputes that may arise between you and the Company in connection with you trading CFDs in Cryptocurrencies are not eligible and shall not be accepted for consideration by the Financial Ombudsman of the Republic of Cyprus." ( i wonder why they included this....)
Also point 6.6 about sharing logins and passwords ..that also did not apply.
That is the current situation 14082.42 of my profits that they are unwilling to release for no apparent reason at all except possibly this or that and i did none of those things.
I'm still going to file a complaint with CySec and the Financial Ombudsman of the Republic of Cypres because in my opinion if Cysec can control the leverage (they just lowered the max leverage on crypto cfd's they must be responsible.)
After complaining and having my spreads increased yet again I decided it was time to call it quits so i requested a Withdrawal ... that is when the problems started. I did my request for 8000 euro on the 10th of november, on the 15th i received a message that my account was "under investigation" and my account and withdrawals are suspended.
At that point you can try and mail them back or call support (don't try to call your account manager he will no longer pick up...) they will either not respond or say your account is still under investigation and you will hear back once the investigation is finished.
On the 17th of November i contacted support again and they told me they could transfer some of the money if i gave them my bankstatement.
Also on the 17th of November I filed an official complaint with Trade.com compliance department (filled out the form and sent it per email) and I also stated that "I will file a complaint with the Financial Ombudsman of the Republic of Cyprus and to regulator CySEC. Wednesday 22-11-2017 (7days since my first reply) I will be opening a case with the Forex Peace Army Traders Court and we can continue this discussion over there."
(also i could not enter my account on the site anymore, the next day i could)
On the 18th of November i had enough and tried to withdraw the remaining money.
On the 20th of November i received a notification that 4800 euro has been sent to my credit card and 600 to my bank account. This was my initial deposit and the money did arrive.
On the 22th of November i contacted support again and decided to give them a little bit more time to sort out the mistake they had made ( in my innocence...)
On the 24th of November i received confirmation that my official complaint had been received, but they did not include an official complaint number.
On the 27td of November i received an email from the same person who put my account under investigation in the first place referring to https://www.trade.com/en/terms-conditions points
19.3 (using software) (nope) and 19.4 (Internet, connectivity delays, and price feed errors) (also a big fat no)
and also refering section 8 of the Terms and Conditions regarding Cryptocurrency Products that basically states:
"any complaints that you may have or any disputes that may arise between you and the Company in connection with you trading CFDs in Cryptocurrencies are not eligible and shall not be accepted for consideration by the Financial Ombudsman of the Republic of Cyprus." ( i wonder why they included this....)
Also point 6.6 about sharing logins and passwords ..that also did not apply.
That is the current situation 14082.42 of my profits that they are unwilling to release for no apparent reason at all except possibly this or that and i did none of those things.
I'm still going to file a complaint with CySec and the Financial Ombudsman of the Republic of Cypres because in my opinion if Cysec can control the leverage (they just lowered the max leverage on crypto cfd's they must be responsible.)