Liiiga
Private, 1st Class
- Messages
- 25
in short story let me explain the case on my complaint.
I have an account so called forex trading using MT4 provided by WSPRO (has an office in Malaysia) which has a partnership with Global Holdings Capital Pty Ltd (based in Australia and registered under ASIC and claimed to be corporate authorized representative of Alpha Securities). As far as I know from them, WSPRO is act as marketing strategic partner for GHC in purpose to expand its client base in South East Asia while GHC is act as a broker who provide forex platform and taking care the MT4 trading account.
I have made a good profit while am trading my MT4 account in proper way and my cash withdrawal has been hold by the company (GHC) with an excuse that my account has been placed under investigation from any type of fraud trading. It says, the investigation will take 10 to 20 working days and asked me to wait for further updates from relevant department. After more than 20 working days and several formal complaint emails written to them, GHC email to me with a statement that my MT4 account has been involved in fraud trading and disabled my MT4 account.
The pictures and timelines are as per below:
#1909HO35 – Email conversation ID
- 31 August 2019 = My first pending cash withdrawal with total amount USD 20,000.
- 7 September 2019 = Another pending cash withdrawal with total amount USD 20,000.
- 9 September 2019 = I email GHC asking for clarification on the pending cash withdrawal status.
- 13 September 2019 = Official GHC account Investigation announcement.
- 16 September 2019 = Reply from GHC saying my cash withdrawals are on hold due to my MT4 account under investigation.
- 18 September 2019 = I email GHC asking for timeline and due date on the investigation result and addressing my concerns on the cash withdrawal delay.
- 20 September 2019 = Reply from GHC saying the results will be on end September to early October 2019.
- 20 September 2019, 1 October 2019, 9 October 2019 = Few times I have email them (GHC) asking for clarification and updates during the period but never get any reply until I wrote a formal complaint pertaining to the investigation result and its procedures in separate new email.
#1910ND51 – Email conversation ID
- 11 October 2019 = I write a formal complaint email to GHC
- 14 October 2019 = Reply from GHC saying my account still under investigation and still did not clear my issue with the company for getting my rights on withdrawal payment.
- 14 October 2019 = I email GHC asking for timeline and due date on the extended investigation result and addressing my concerns on the cash withdrawal delay and its procedure.
#1910TS77 – Email conversation ID (Final issue)
- 20 October 2019 = I’m addressing another issue on my MT4 account which being disabled effective on 18th October 2019 by the company without pre-notice and facts.
- 21 October 2019 = Reply from GHC saying (according to them) my account is involved in fraud trading activities and looking for legal commence to get back their earlier payment to me.
- 22 October 2019 = I’m writing my refusal on the statement that being accused to me and asking or challenge them for the facts and prove of data where the decision was derived from.
- 23 October 2019 = Reply from GHC saying they act as a broker and pass all the trades through Liquidity Provider (LP) / Banks and saying my trade has been returned and rejected by LP / Banks thus they said my trading is a mishap and indirectly imply my decision if I agree to get the payment only for my initial funding.
- 23 October 2019 = I’m declined their explanation as it is unacceptable and make no sense in the proper trading practice and my trades has all done trades without rejected in its MT4 platform. I’m sticking to my rights to get all withdrawal amount that I obtained with fair trading and informing them on my plan to lodge a complaint to external dispute resolutions.
- 25 October 2019 = GHC reply saying they were submitted the relevant documents to the regulator as well and waiting the outcome of the investigation.
Total amount I need to withdraw is USD 275,648 (with USD 40,000 has been on hold and the USD 235,648 could only be cleared after the previous pending withdrawals are clear)
Profit USD 313,148
Capital USD 7,500 (credit + deposit)
Withdrawal USD 100,000 (USD 45,000 has been paid to my bank account, USD 40,000 has been on hold by GHC or WSPRO, USD 15,000 left dormant and on hold in WSPRO Cash Wallet)
Total Outstanding need to be cleared by the company is USD 313,148 + USD 7,500 – USD 45,000 = USD 275,648
Understand that the amount above doesn’t include the compensation of the time, efforts, potential trading opportunity, and financial loss that I have encountered during the delay and managing this issue.
I was very open for the investigation on my account from any suspected fraud trading and very cooperative while waiting the result from the company as stated via email. I have also saved the history of my MT4 trading activities for further transparent investigation.
From the above experiences, I found that the companies are irresponsible for the clients and has no good intention to take care of my account and withdrawal by not solving this case immediately and transparently. It made an impression to me that the company is trying to hold and keep delaying my withdrawal for the time that I never know until I got last email stating my account being disabled and treated as a fraud trading.
I have written an email to Alpha Securities requesting for Internal Dispute Resolution however I did not get any response from them.
I have reported to AFCA on this case since last week, and has not come into a solution yet.
From the above case, I want to get a better understanding on its jurisdication if I could make a complaint on my case as in I lived in Indonesia. Anyone could give an advice to my case? will this issue can be solved? How reliable are these companies?
the login web for GHC is www.ghctrade.com
Any comments or advices are welcome! Thanks
I have an account so called forex trading using MT4 provided by WSPRO (has an office in Malaysia) which has a partnership with Global Holdings Capital Pty Ltd (based in Australia and registered under ASIC and claimed to be corporate authorized representative of Alpha Securities). As far as I know from them, WSPRO is act as marketing strategic partner for GHC in purpose to expand its client base in South East Asia while GHC is act as a broker who provide forex platform and taking care the MT4 trading account.
I have made a good profit while am trading my MT4 account in proper way and my cash withdrawal has been hold by the company (GHC) with an excuse that my account has been placed under investigation from any type of fraud trading. It says, the investigation will take 10 to 20 working days and asked me to wait for further updates from relevant department. After more than 20 working days and several formal complaint emails written to them, GHC email to me with a statement that my MT4 account has been involved in fraud trading and disabled my MT4 account.
The pictures and timelines are as per below:
#1909HO35 – Email conversation ID
- 31 August 2019 = My first pending cash withdrawal with total amount USD 20,000.
- 7 September 2019 = Another pending cash withdrawal with total amount USD 20,000.
- 9 September 2019 = I email GHC asking for clarification on the pending cash withdrawal status.
- 13 September 2019 = Official GHC account Investigation announcement.
- 16 September 2019 = Reply from GHC saying my cash withdrawals are on hold due to my MT4 account under investigation.
- 18 September 2019 = I email GHC asking for timeline and due date on the investigation result and addressing my concerns on the cash withdrawal delay.
- 20 September 2019 = Reply from GHC saying the results will be on end September to early October 2019.
- 20 September 2019, 1 October 2019, 9 October 2019 = Few times I have email them (GHC) asking for clarification and updates during the period but never get any reply until I wrote a formal complaint pertaining to the investigation result and its procedures in separate new email.
#1910ND51 – Email conversation ID
- 11 October 2019 = I write a formal complaint email to GHC
- 14 October 2019 = Reply from GHC saying my account still under investigation and still did not clear my issue with the company for getting my rights on withdrawal payment.
- 14 October 2019 = I email GHC asking for timeline and due date on the extended investigation result and addressing my concerns on the cash withdrawal delay and its procedure.
#1910TS77 – Email conversation ID (Final issue)
- 20 October 2019 = I’m addressing another issue on my MT4 account which being disabled effective on 18th October 2019 by the company without pre-notice and facts.
- 21 October 2019 = Reply from GHC saying (according to them) my account is involved in fraud trading activities and looking for legal commence to get back their earlier payment to me.
- 22 October 2019 = I’m writing my refusal on the statement that being accused to me and asking or challenge them for the facts and prove of data where the decision was derived from.
- 23 October 2019 = Reply from GHC saying they act as a broker and pass all the trades through Liquidity Provider (LP) / Banks and saying my trade has been returned and rejected by LP / Banks thus they said my trading is a mishap and indirectly imply my decision if I agree to get the payment only for my initial funding.
- 23 October 2019 = I’m declined their explanation as it is unacceptable and make no sense in the proper trading practice and my trades has all done trades without rejected in its MT4 platform. I’m sticking to my rights to get all withdrawal amount that I obtained with fair trading and informing them on my plan to lodge a complaint to external dispute resolutions.
- 25 October 2019 = GHC reply saying they were submitted the relevant documents to the regulator as well and waiting the outcome of the investigation.
Total amount I need to withdraw is USD 275,648 (with USD 40,000 has been on hold and the USD 235,648 could only be cleared after the previous pending withdrawals are clear)
Profit USD 313,148
Capital USD 7,500 (credit + deposit)
Withdrawal USD 100,000 (USD 45,000 has been paid to my bank account, USD 40,000 has been on hold by GHC or WSPRO, USD 15,000 left dormant and on hold in WSPRO Cash Wallet)
Total Outstanding need to be cleared by the company is USD 313,148 + USD 7,500 – USD 45,000 = USD 275,648
Understand that the amount above doesn’t include the compensation of the time, efforts, potential trading opportunity, and financial loss that I have encountered during the delay and managing this issue.
I was very open for the investigation on my account from any suspected fraud trading and very cooperative while waiting the result from the company as stated via email. I have also saved the history of my MT4 trading activities for further transparent investigation.
From the above experiences, I found that the companies are irresponsible for the clients and has no good intention to take care of my account and withdrawal by not solving this case immediately and transparently. It made an impression to me that the company is trying to hold and keep delaying my withdrawal for the time that I never know until I got last email stating my account being disabled and treated as a fraud trading.
I have written an email to Alpha Securities requesting for Internal Dispute Resolution however I did not get any response from them.
I have reported to AFCA on this case since last week, and has not come into a solution yet.
From the above case, I want to get a better understanding on its jurisdication if I could make a complaint on my case as in I lived in Indonesia. Anyone could give an advice to my case? will this issue can be solved? How reliable are these companies?
the login web for GHC is www.ghctrade.com
Any comments or advices are welcome! Thanks