CiTrades Case
I have been dealing with CiTrades for about 8 months, in that time I have deposited over £30000 in dollars which has been held in an Auto trading binary managed account. The account purports to have a win rate of over 70%, which in my experience it does not.
The balance of my account is now $0.
Here are a few of the low points
I have been dealing with CiTrades for about 8 months, in that time I have deposited over £30000 in dollars which has been held in an Auto trading binary managed account. The account purports to have a win rate of over 70%, which in my experience it does not.
The balance of my account is now $0.
Here are a few of the low points
- Absolutely appalling lack of communication, I never got through to my account manager, (Initially Justin) often trying 5 or more times per day without success. Email were rarely answered.
- Justin traded my account without a stop loss losing over $50000 overnight. His reaction to my consternation when I eventually contacted him was to suggest that I double up and take advantage of an insured trade to recoup some of the losses, this I stupidly did throwing good money after bad.
- Justin was removed as my account manager and replaced by Mark Preston who introduced himself as the Recovery Manager and announced that he would rebuild the account balance if I would only deposit another $10000. Having put £30000 into the account with no return I declined, whereupon he said that he could still recover the balance but that it would take longer this he estimated would be about Jun/July 2016.
- Mark changed my account from a VIP which returned 10% of investment for a loss and 100% of investment in the event of a tie to a standard auto trading account with no benefits. This he did without consulting me.
- Under Mark Preston Recovery Manager’s management the balance of my account was reduced to less than $0 during this period, despite daily attempts to contact him, he eventually contacted be after the balance was below $0 to say that he had been in hospital, two days later I could not access my account and I have had no further contact with Mark Preston.
Attachments
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CiTrades Case.pdf96.8 KB · Views: 6
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Exhibit A $10000 transfer to Citrades GB.pdf94.4 KB · Views: 5
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Exhibit B wire transfer to MDN Group Ltd.pdf103.8 KB · Views: 2
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Exhibit C $10000 to Citrades.pdf163.5 KB · Views: 3
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Exhibit D Screen shot of account performance after it was put i.pdf198 KB · Views: 1
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Exhibit F Deposit Confirmation.pdf299.8 KB · Views: 0
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Exhibit G Credit card payments $15000.pdf166 KB · Views: 1