Original FPA Traders Court Submission:
I am submitting the case against: www.daxmarkets.com/#
My Case is: I started trading with DAX MARKETS on the 14/02/208. My account manager was Jake Lombardi I made several deposits up to $12500. But when I wanted to withdraw Jake told me that my trading volume was low, I needed to pay $3940 before I could withdraw and also for him to continue trading. I couldn't understand what was happening, since he didn't say anything about trading volume while I was busy depositing money into their account. Which only now when I want to withdraw? That is when I noticed that this was a scam. At that time my account was at $45869. I had several exchanges with Jake until he disappeared. Then came Mark Hunt on the 04/05/2018 who told me that Jake had been relocated to Singapore and that he was my new account manager. He said my account could be made liquid if I could trade on my own until I get my balance to $134000. I told him that I was not interested in trading I just needed my money back. I was surprised on the 17/05/2018 when I got a call from Alex Mattson who said he was from insurance. He told me my account was now liquid and I could now withdraw. To my surprise when I went to the account I found that my balance was now $94. Mark Hunt had traded on my account without my permission and made two trades of $40000 and $43000. He lost both this trades. When I queried about why they traded. I was told they could do anything they want in the account. This was done to down trade me, as in the beginning Jake had told me they never trade with more than 10% of the balance. So why did Mark Hunt place trades of more than 80% of the balance? No sane broker can do that, unless it is done intentionally. I was then told I needed to pay 10% or $8300. So that I don't loose my money. When I told them I didn't have money we eventually agreed that I was going to pay $2000. So that I could get at least $20000. But I didn't pay that amount, since I was concerned that I was going to pay that amount but don't get anything back from DAX MARKETS. Just like other clients of Dax markets. Eventually they then sent me $94 and closed the account after.
New thread in the Scam Alerts Folder:
Review is submitted by DAX MARKETS on 05/21/18
The company was first contacted about the issue on 03/11/18 the last contact was on 05/28/18
Details: That I must pay 10% of the money that I lost. If not they close my account and I loose all the money I have deposited. I only get $94. That is part of trading according to them.
Company representatives' emails: Alex Mattson <alex.m@daxmarkets.com>
Mark Hunt <mark.h@daxmarkets.com>
Jake Lombardi <jake.l@daxmarkets.com>
Support Daxmarkets <support@daxmarkets.com>
I am submitting the case against: www.daxmarkets.com/#
My Case is: I started trading with DAX MARKETS on the 14/02/208. My account manager was Jake Lombardi I made several deposits up to $12500. But when I wanted to withdraw Jake told me that my trading volume was low, I needed to pay $3940 before I could withdraw and also for him to continue trading. I couldn't understand what was happening, since he didn't say anything about trading volume while I was busy depositing money into their account. Which only now when I want to withdraw? That is when I noticed that this was a scam. At that time my account was at $45869. I had several exchanges with Jake until he disappeared. Then came Mark Hunt on the 04/05/2018 who told me that Jake had been relocated to Singapore and that he was my new account manager. He said my account could be made liquid if I could trade on my own until I get my balance to $134000. I told him that I was not interested in trading I just needed my money back. I was surprised on the 17/05/2018 when I got a call from Alex Mattson who said he was from insurance. He told me my account was now liquid and I could now withdraw. To my surprise when I went to the account I found that my balance was now $94. Mark Hunt had traded on my account without my permission and made two trades of $40000 and $43000. He lost both this trades. When I queried about why they traded. I was told they could do anything they want in the account. This was done to down trade me, as in the beginning Jake had told me they never trade with more than 10% of the balance. So why did Mark Hunt place trades of more than 80% of the balance? No sane broker can do that, unless it is done intentionally. I was then told I needed to pay 10% or $8300. So that I don't loose my money. When I told them I didn't have money we eventually agreed that I was going to pay $2000. So that I could get at least $20000. But I didn't pay that amount, since I was concerned that I was going to pay that amount but don't get anything back from DAX MARKETS. Just like other clients of Dax markets. Eventually they then sent me $94 and closed the account after.
New thread in the Scam Alerts Folder:
Review is submitted by DAX MARKETS on 05/21/18
The company was first contacted about the issue on 03/11/18 the last contact was on 05/28/18
Details: That I must pay 10% of the money that I lost. If not they close my account and I loose all the money I have deposited. I only get $94. That is part of trading according to them.
Company representatives' emails: Alex Mattson <alex.m@daxmarkets.com>
Mark Hunt <mark.h@daxmarkets.com>
Jake Lombardi <jake.l@daxmarkets.com>
Support Daxmarkets <support@daxmarkets.com>