Original FPA Traders Court Submission:
I am submitting the case against: Trade12.com
My Case is: Dear Traders!
I have been scammed for 20000$ 2 weeks ago.
After 2 weeks conversations, many many letters to support and complience department, no one person from Trade12 could explain me how 20000$ had gone from my account. Let me tell you the story.
As I described in my thread, I have been forced to sign agreement, which could not be performed. Under the terms of this agreement my negative trades on SP will be temporary located at the transit account, and if I work out volume of trades of 75 lots, this trades could be closed by zero.
I could not rich the volume of 75 lots, because Trade12 allways changed the "rules of the game". This is described in my thread: https://www.forexpeacearmy.com/community/threads/scammed-by-trade12-com.52551/
On the 13.10.17, the term of my agreement has expired. The terms of the egreement were not met, So I should get my expired positions on SPsep17.
Instead of this, I got allready extended positions on SPdec17. The minus on this trades was -20000$.I immediately hedged this trades. At that time I had opened next trades ( see screenshot1):
4 lot spdec17 sell -10775
4 lot spdec17 sell -11180
5 lot amazon sell -12600
5 lot amazon buy 8000
1 lot coper buy 12675
1 lot coper sell - 15200
8 lot spdec17 buy 2500 (The lock on SP)
My ballance was 27600$. Total negative on opened trades was -27431$
On the 26.10.17 the jump of Amazon shares was expected, so, in order to support my ballance I closed 1 lot on sell on Amazon. The trading session was opened and huge gap in positive direction occured. The trades on coper, amazon, and the lock on SPdec17 closed automatically, as I had small amount of free margine. So, the profit of this trades was added to my balance: 27594-1500 (Amazon lock) -1250 (lock SPdec17) + 8000-10550 (copper) -53856 + 62287 (Amazon) = 30725$. Trades on SPdec17 were not closed. So at that moment I had balance=30725$ and 2 opened trades on SP with total negative -20000$. Suddenly, this trades on SPdec17 had gone and 20000$ were deducted from my ballance. I checked the History of the Account, but didn't find these trades there.(Screenshot2). Balance became 10440$.
Next few minutes my broker phoned me and said to close the MT4 platform, in order to avoid mulfunction. I did this.
After 2 houres I opened the MT4 platform. And I saw trades on SPsep17 on the Trades section (Screenshot 3).
Broker said: --"Your expired positions on SP got back as it is written in the agreement."
--- But why did I get trades on SPdec17 before? And why was minus on this trades deducted from my balance?
No answer.
Since my trades on SPsep17 were extended, the total minus on these 2 trades become -9000$. I closed this positions, as swap day by day was encreasing. So I have 777$ on my balance now. ( Screenshot 4 and 5)
But where did 20000$ go? Why did I get back the extended trades (instead of expired, as it is described in the agreement), why was minus for these trades deducted from my balance? The only one answer comes to my mind - to confuse me and steal $ 20000 from my balance.
To my question, why it happened so and the request to explain where the $ 20000 had gone, the broker moves on to another topic or shouts into the phone some inadequate explanations and sends me to the expiration department, then to the statistics department. They repeat the same thing to me: You did not have enough margin, you lost it by fair trading and so on. I receive the same abstract answers to my letters to online support.
If you look at the detailed report from the platform MT4 (DetailedStatement), you can see that the graph ends at $ 20464 (Screenshot 6). Also, if you count from the report: Deposit - Withdrawal + Closed transactions = Balance, which is 20718-254 = 20464 $. But on the report the Balance is clearly written 777 $. This is clear discrepancy.
If we open the “Account history”, we will see (Screenshot 7, Screenshot 8): Deposit + Profit - Withdrawal = Balance. That will be 26568-5850-254 = 20464 $. That does not converge with the Balance in the “Trade” section (Screenshot 5). In the section “Account history”, I do not have any unprofitable trades with such a significant minus - $ 20000. Then where could they have disappeared? - They could only be stolen by Trade12.
Dear traders, maybe some one can explain me how could i lost 20k, if there are no trades with such minus in my History. Sorry for large description, but the situation is very complecated.
New thread in the Scam Alerts Folder:
Review is submitted by Jarovna on 10/31/17
The company was first contacted about the issue on 10/29/17 the last contact was on 11/06/17
Details: Thank you for contacting us.
Your request accepted for processing.
--------------------------------------------------------------------
Hello Javorna,
We understand your concern. However, according to the Risk Department, you have lost your funds fairly by trading.
The information hereupon is not detailed. If you wish for a more detailed clarifications and information, kindly contact us at concerns@trade12.com or support@trade12.com.
Regarding your concern, the Risk Department has reviewed that your biggest loss came from Amazon, and there were other more trades that you lost from the market, a lot bigger than the amount you deposited. We want you to understand that you lost this trade on Amazon due to a stop-out level that it has reached, and we would like you to remember that you have agreed to our Terms and Conditions, whereas there are certain occurrences that our out of the Company’s control, specifically market volatility, and we have clearly specified in our Terms and Conditions that the Company is not held liable for these circumstances. Please refer to our Order Execution Policy, Terms and Conditions 4. Eligibility 18. Indemnification 17. Restriction on Investment Advice.
As much as we would like to clarify everything further, we suggest you contact us via the emails provided and we could have you scheduled to speak with a representative who is more knowledgeable about your account’s activities.
Thank you for understanding.
Best Regards,
Lily
-----------------------------------------------------------------------------------------------------------------------------
Company representatives' emails: Sofia Zolotoreva <sofia.zolotareva@trade12.com>
I am submitting the case against: Trade12.com
My Case is: Dear Traders!
I have been scammed for 20000$ 2 weeks ago.
After 2 weeks conversations, many many letters to support and complience department, no one person from Trade12 could explain me how 20000$ had gone from my account. Let me tell you the story.
As I described in my thread, I have been forced to sign agreement, which could not be performed. Under the terms of this agreement my negative trades on SP will be temporary located at the transit account, and if I work out volume of trades of 75 lots, this trades could be closed by zero.
I could not rich the volume of 75 lots, because Trade12 allways changed the "rules of the game". This is described in my thread: https://www.forexpeacearmy.com/community/threads/scammed-by-trade12-com.52551/
On the 13.10.17, the term of my agreement has expired. The terms of the egreement were not met, So I should get my expired positions on SPsep17.
Instead of this, I got allready extended positions on SPdec17. The minus on this trades was -20000$.I immediately hedged this trades. At that time I had opened next trades ( see screenshot1):
4 lot spdec17 sell -10775
4 lot spdec17 sell -11180
5 lot amazon sell -12600
5 lot amazon buy 8000
1 lot coper buy 12675
1 lot coper sell - 15200
8 lot spdec17 buy 2500 (The lock on SP)
My ballance was 27600$. Total negative on opened trades was -27431$
On the 26.10.17 the jump of Amazon shares was expected, so, in order to support my ballance I closed 1 lot on sell on Amazon. The trading session was opened and huge gap in positive direction occured. The trades on coper, amazon, and the lock on SPdec17 closed automatically, as I had small amount of free margine. So, the profit of this trades was added to my balance: 27594-1500 (Amazon lock) -1250 (lock SPdec17) + 8000-10550 (copper) -53856 + 62287 (Amazon) = 30725$. Trades on SPdec17 were not closed. So at that moment I had balance=30725$ and 2 opened trades on SP with total negative -20000$. Suddenly, this trades on SPdec17 had gone and 20000$ were deducted from my ballance. I checked the History of the Account, but didn't find these trades there.(Screenshot2). Balance became 10440$.
Next few minutes my broker phoned me and said to close the MT4 platform, in order to avoid mulfunction. I did this.
After 2 houres I opened the MT4 platform. And I saw trades on SPsep17 on the Trades section (Screenshot 3).
Broker said: --"Your expired positions on SP got back as it is written in the agreement."
--- But why did I get trades on SPdec17 before? And why was minus on this trades deducted from my balance?
No answer.
Since my trades on SPsep17 were extended, the total minus on these 2 trades become -9000$. I closed this positions, as swap day by day was encreasing. So I have 777$ on my balance now. ( Screenshot 4 and 5)
But where did 20000$ go? Why did I get back the extended trades (instead of expired, as it is described in the agreement), why was minus for these trades deducted from my balance? The only one answer comes to my mind - to confuse me and steal $ 20000 from my balance.
To my question, why it happened so and the request to explain where the $ 20000 had gone, the broker moves on to another topic or shouts into the phone some inadequate explanations and sends me to the expiration department, then to the statistics department. They repeat the same thing to me: You did not have enough margin, you lost it by fair trading and so on. I receive the same abstract answers to my letters to online support.
If you look at the detailed report from the platform MT4 (DetailedStatement), you can see that the graph ends at $ 20464 (Screenshot 6). Also, if you count from the report: Deposit - Withdrawal + Closed transactions = Balance, which is 20718-254 = 20464 $. But on the report the Balance is clearly written 777 $. This is clear discrepancy.
If we open the “Account history”, we will see (Screenshot 7, Screenshot 8): Deposit + Profit - Withdrawal = Balance. That will be 26568-5850-254 = 20464 $. That does not converge with the Balance in the “Trade” section (Screenshot 5). In the section “Account history”, I do not have any unprofitable trades with such a significant minus - $ 20000. Then where could they have disappeared? - They could only be stolen by Trade12.
Dear traders, maybe some one can explain me how could i lost 20k, if there are no trades with such minus in my History. Sorry for large description, but the situation is very complecated.
New thread in the Scam Alerts Folder:
Review is submitted by Jarovna on 10/31/17
The company was first contacted about the issue on 10/29/17 the last contact was on 11/06/17
Details: Thank you for contacting us.
Your request accepted for processing.
--------------------------------------------------------------------
Hello Javorna,
We understand your concern. However, according to the Risk Department, you have lost your funds fairly by trading.
The information hereupon is not detailed. If you wish for a more detailed clarifications and information, kindly contact us at concerns@trade12.com or support@trade12.com.
Regarding your concern, the Risk Department has reviewed that your biggest loss came from Amazon, and there were other more trades that you lost from the market, a lot bigger than the amount you deposited. We want you to understand that you lost this trade on Amazon due to a stop-out level that it has reached, and we would like you to remember that you have agreed to our Terms and Conditions, whereas there are certain occurrences that our out of the Company’s control, specifically market volatility, and we have clearly specified in our Terms and Conditions that the Company is not held liable for these circumstances. Please refer to our Order Execution Policy, Terms and Conditions 4. Eligibility 18. Indemnification 17. Restriction on Investment Advice.
As much as we would like to clarify everything further, we suggest you contact us via the emails provided and we could have you scheduled to speak with a representative who is more knowledgeable about your account’s activities.
Thank you for understanding.
Best Regards,
Lily
-----------------------------------------------------------------------------------------------------------------------------
Company representatives' emails: Sofia Zolotoreva <sofia.zolotareva@trade12.com>
