Fraud by Mxtrade

[Gyan Prakash Rai]

Dear Sir/Madam,
My name is Gyan Prakash Rai. I am an Indian living in Singapore from March 2013 onwards. I was trading with R Capital Mxtrade (https://www.mxtrade.com) since 15 June 2015. I invested USD 81745 till now. On top of that I got the profits of USD 31404.63.

I opened my trading account with R Capital Mxtrade (5, Cork Street, Belize City, Belize, C.A.) on 15 June 2015. Which is owned and operated by Lau Global Services Corporations (Lau Global Services Corporation, 5 Cork Street, Belize City, Belize, C.A) and licensed by International Financial Services Commission. IFSC License Number IFSC/60/402/TS/15.
My account was handled by their Cyprus Office. Trade was discussed on Skype (Ids: korg.h.mxtrade, gavin.a.mxtrade and tom.k.mxtrade). I was getting calls from +357 22007310/22607705.
I started trading with them from 16 June 2015. Right from the day one they kept putting my account on high risk and kept on asking to deposit amounts, which I deposited all times it was demanded to save my account. I have the deposit declaration signed between myself and R Capital Mxtrade.
Now I wanted to withdraw my balance amounts. I have placed the request for withdrawals but now I am been put in lots of troubles by R Capital Mxtrade and not allowing me to withdraw the amount. Now, they are forcing all the terms and conditions which have been never discussed with me before starting the investment. Also I have not signed any agreements regards to that terms and conditions.
While starting the investments, I informed them very clearly that I am very new to trading, so please explain me all the terms and conditions. They kept on adding Bonus in my account but they never discussed with me on any Bonus terms and conditions.
I got the confirmation from my broker (Korg Haynes khaynes, Email: k.haynes@mxtrades.com) last week that I can withdraw the amount up to my account balance, which is USD 113149.63. I have the confirmation email. I placed the withdrawal request on 30- July 2015, there are no proceedings happened from R Capital Mxtrade.
I request you to kindly help me to get my money back. The entire amount USD 81745 I have taken on credits from different Banks in Singapore, to which my creditors are chasing me very badly. I am in bigger big trouble now.

Thanks & Regards,
Gyan Prakash Rai

 

[Pharaoh]

Go ahead and send an email to every address you can find for them. Invite them to come and join this discussion thread.

 

[alexx71]

Gyan in the history of your trade account is there the voice " Withdrawal " ?
If so it means they are already processing the request and you have to wait the confirmation from you bank that money has arrived.
Mr. Torresini that have experience with Mxtrade and Tradingbanks said that after have seen " Withdrawal " in the history of account he never received the money.... I hope this is not your case..... keep us informed.... big amount of money involved and worst is the fact that you make debts for that.

 

[Gyan Prakash Rai]

Hi Alex,
No. Withdrawal is still in initial stage. They have not yet approved nor ready to do so. Not only the profits but my principal amount as well which I deposited in Mxtrade account they are not ready to return.

My broker Korge Haynes have given the email confirmation for withdrawal, then too their finance department is not ready to release my money.

Yes, taking debt for this investment is worst in my life.

 

[Gyan Prakash Rai]

Hello Pharaoh, sure will invite them on this trade. Thanks for advice.

 

[maxfx]

Hi,
This company are look to me is scam best away if paid by Card then ask your bank before too late, I can see clearly they are scam I am based in UK, we have big issue they are so many scam happen, you can see there no address in UK either.

 

[alexx71]

So it seems more than one month to approve the withdrawal.... this would be honored in one week at maximum... now you must insist every day with them to have your money, you have to bombard their chat, maybe they get tired and send you your money. Anyway keep us informed, I hope the problem can be solved soon !

 

[Gyan Prakash Rai]

Actually, I am calling them very frequently but they are not ready to answer a specific answer, they only wanted to trade some large volumes of trade to withdraw the amount, which is really a very very big risk. They put my account in huge risk by opening large volume of trade without consulting me earlier and disabled my account twice due to Margin call.

Now are not responding anything on my issue.

 

[alexx71]

As I told time ago, I would never give a cent to that broker, and they said that their customers make a lot of money.... but here I just can see people that lose money with them !
Where are you Mxtrade Rep ?? It seems you disappeared from this forum !

 

[Gyan Prakash Rai]

I shared this thread to their chat channel and invited them in this discussion. Still no representative have joined yet.