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Grand Capital - FRAUD

Discussion in 'Scam Alerts' started by NelliN, Oct 27, 2017.

  1. NelliN

    NelliN Recruit

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    My name: Lapshin Maksim Yur'evich
    Invested amount: 6 250$
    Trading account number: 447870

    I got acquainted with this company in March 2016. I have received a call from a manager of the Grand Capital Ltd with a proposal to open an account in the company for making investments and working on the exchange market. Just because I had no experience in stock trading and did not have financial knowledge, I had to refuse at first. However, the manager kept on calling me every day for two weeks, telling me that the cooperation with the company would mean a steady income that is up to 50% of the invested amount of money per month.

    In order to make me believe that I can make an income working on this platform, I have been introduced to different ways of earnings and increasing my income. I agreed to try and 24.03.16 I made a minimum deposit in the amount of 2000 US dollars.

    I was assigned Pavel Nasyrov (his contacts: +7 965 927 41 86, pavel.nasyrov.90@mail.ru), an analyst of the company. The analyst of the company informed me that I did not need any skills and experience in trading. He assured me that all transactions would be opened under his control and solely according to his signals.

    The company also provided me with the trading robot and assured me that this robot opens only profitable deals. However, this program started to generate losing trades. It opened a position on sale, while the market began to steadily grow. When the amount on my trading account has significantly decreased, the analyst of the company Pavel Nasyrov insisted that this position be closed in negative. I closed this position with Pavel Nasyrov in the regional office of the Grand Capital Ltd in Ufa city (Russia).
    After that, the analyst of the company Pavel Nasyrov assured me that he would give me clear signals and instructions. He also persuaded me to replenish my account in return for the bonus from the company in the amount of 1000 US dollars. 30.03.2016 I made two deposits to the tune of 350,38 and 706,71 US dollars to my trading account by the following transactions:

    Since then I have traded solely according to the instructions of the analyst of the company. However, almost all deals were unprofitable. As a result, the balance on my trading account had almost reached zero. I contacted the employees of the company to seek clarifications regarding this situation, but was informed that I must further replenish my account in order to restore the lost amount.

    31.03.2016 I consulted my wife (Tsvetkova Natal'ya Mikhajlovna) and we deposited 1000 US dollars with her credit card. 04.04.16 I made another payment to the tune of 500 US dollars with the credit card of my wife.

    Later on, the analyst of the company Pavel Nasyrov began to persuade us to install the new trading robot of the company. He assured us that this program was able to trade small amounts without any losses. When we installed this program, the first small deals were indeed profitable. However, shortly afterwards, the robot started to trade with huge losses.

    Analysis, provided by Pavel Nasyrov was also unprofitable. In 20 dates of May 2016 I called to the head office of the Grand Capital Company and made detailed explanation of the situation on my trading account. The company informed me that the specialist of the company would contact me soon.

    After a while, I was called back by the employee of the company, named Ilgiz (+7 987 617 31 99). He assured me that he would do his best to sort everything out and improve the situation. He also informed me that the company would provide me a professional trader, who would make profitable deals and restore our balance. I was suggested changing my personal trader to the senior trader of the company, Damir Biktimirov. My wife and I agreed and accepted this offer.

    Trades that we carried out according to the signals of Damir Biktimirov were mostly unprofitable. My wife and I used to come to the regional office of the Grand Capital in Ufa city in order to lead trading. There we were given instructions and signals, but most of the deals closed in red. Due to the poor analysis and instructions from the side of Damir Biktimirov, we opened a position that brought huge losses to my trading balance. In order to avoid further losses, Damir Biktimirov suggested us to replenish the account and after that to withdraw our funds.

    27.05.2016 we made deposit in the amount of 200 US dollars from the credit card of my wife, Tsvetkova Natal'ya Mikhajlovna. 31.05.2016 we made another payment to the tune of 800 US dollars.

    The senior trader of the company, Damir Biktimirov persuaded us to take a trading course by the analyst from the head office of the company in Saint Petersburg. This course cost 2000 US dollars and the company promised that this amount would be transferred to my trading account.

    01.06.2016 we made a cash payment to the tune of 2000 US dollars in the regional office of the company. Grand Capital Ltd guaranteed that during the trading process, which would take one month, all the transactions would be carried with huge profits. However, once again, the company failed to keep its promises and drained my deposit down to zero.

    In the beginning of August, 2016, employees of the Grand Capital persuaded us to transfer my account for asset management to the professional trader of the company – Mr. Pavel Kozhevnikov. We were assured that this employee had a good reputation and positive trading experience. We were suggested to conclude a typical agreement and to sign a long-term one if we satisfied with the cooperation with this employee.

    During the discussion of the conditions of the agreement, Pavel Kozhevnikov promised us that the maximum trading amount would be the 30% of our deposit. He assured us that he would not take huge risks and would always act in consultation with us. However, he opened only three positions and drained our whole deposit in a few hours.

    Though we contacted the company and its employees Mr. Damir Biktimirov and Mr. Pavel Kozhevnikov with a request to close the deals with the positive balance, our efforts were not successful. The company failed to fulfill its obligations to its clients and knowingly acted in a dishonest and negligent way.

    I tried to resolve the situation with the company by contacting them through the telephone number listed on the website, but it did not lead to any positive result. I did not receive my money back. I sent an application for termination of the contract with the company on 06.06.2017.

    06.06.2017 I received a request from the company to provide my trading account number. 07.06.2017 I provided the requested information. I would like to bring to your attention that from the moment I have provided the number of my account to the company, I fail to enter the trading platform. I am also unable to access to the information in my personal account – the account history and other information have suspiciously disappeared.

    13.06.2017 I received the official response to my complaint. I attach the translation of it:

    "Hello!
    «Brokerage companies offering citizens of the Russian Federation to make money on currency pairs on the Forex market are required to have a license issued by the Bank of Russia.» - The license of the bank of Russia is required only to the companies that provide brokerage services within the territory of the Russian Federation. The company Grand Capital provides brokerage services within the territory the Republic of Seychelles. Pursuant to the article 1.3 of the Client Agreement «The Company operates in the territory of the Republic of Seychelles. According to applicable legislation of the Republic of Seychelles, in case the present Agreement and all its provisions and regulations are accepted by a legal entity or an individual eligible in accordance to provisions of the Agreement, such an entity or an individual becomes a client of the Company. From this moment on every operation the Client performs with the use of any preconditioned Client- Company communication means becomes a subject of the Agreement, relevant Regulations and Risk notification». Thus, this comment cannot be grounds for complaint. More than that, the company only processes complaints that comply with the paragraph 10 of the «Complaints and Disputes» of the present Client Agreement.
    https://grandcapital.ru/static/agreements/Grand Capital Client Agreement.pdf
    If you indeed have any claims towards the Company, prepare your complaint in accordance with the requirements of the paragraph 10 of the «Complaints and Disputes» of the present Client Agreement."

    I followed the advice of the company and on 24.07.2017 I sent the official complaint with the necessary supporting evidence. 03.08.2017 I received a formal reply. The screenshot of this reply is attached to this review.

    In its reply, the Grand Capital Ltd Company refers to the same facts stating that I have paid for the services of the company, but the company does not give any comments on the other major points concerning violations of the statutory and contractual standards. The company offers no comment on that account, and, therefore, it does not deny violations in its activities due to which the funds must be written off in my favor without acceptance. I have never denied the fact that my funds were indeed credited to my trading account. However I submit that there has never been a real trading process and that the Company obtained my funds for personal advantage.

    I also attach the story with all the screenshots to this Review.
     

    Attached Files:

  2. FxMaster

    FxMaster Lt. Colonel

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    Here is the link to Grand Capital PR representative, go ahead and invite him to get proper answer on your issue.
     
  3. NelliN

    NelliN Recruit

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    I wrote to the official email of the company, as well as to the abovementioned representative. Screenshots are attached.
     

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  4. Grand Capital

    Grand Capital Recruit

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    You opened an account with Grand Capital brokerage company, which is located in Seychelles and holds Vanuatu license. However, you didn't open your account directly with us, but through a partner office which, apparently, is located in Russia. It is a partner office, not a branch. It means that partners can open a physical office in any jurisdiction. And carry own risks.
    All analytical services and robots are provided by the office as their offering. The company is not involved in it. Grand Capital only provides services for online trading: the platform, client interface, trading instruments, technical support, liquidity. Therefore, in case you have any claims you need to contact the office you opened the account with.
     
  5. Kikkert

    Kikkert Private, 1st Class

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    @Grand Capital does that imply that Grand Capital as a mother company is not in any way responsible for its subsidiaries?
     
  6. Grand Capital

    Grand Capital Recruit

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    We are not the parent company. The office mentioned is not our subsidiary. These are the legal entities that use only our technical services. They work as separate legal entities. Therefore, the company is not liable for services provided by such offices.
     
  7. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    They used your services and share your name. Do I need to place a warning on the review page about how GrandCapital licences out their name and technology, but does not know or care about what those other companies do to customers?
     
  8. Grand Capital

    Grand Capital Recruit

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    The office employees should have explained that they are not the Company employees and their additional services like analytics and robots are not the Company's services. We are investigating the situation and will take the necessary measures to prevent such situations in the future.
     
  9. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    Do you also intend to see what you can do to get them to fix NelliN's issue?
     
  10. Grand Capital

    Grand Capital Recruit

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    The office is another legal entity “ОООКонсалтКапитал”. We only provide the platform, trading account and service of the trading account.


    The client should send us the agreement he signed when he agreed to use the services of the legal entity (robots, analytics, etc.) We will see what we can do to assist with this situation.



    The client only signed Client Agreement with us and by which our work with him is regulated.


    We will try to help in this situation, but we need to conduct a proper investigation. However, we must emphasize that the client must pay attention to which company the documents are signed with and which services they agree to use! The client must also acknowledge the risks connected with the use services like trading robots or personal advice. Usually, nobody promises guaranteed profit for such services.
     

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