Deepakjain
Private, 1st Class
- Messages
- 47
Hello again Iam not hearing through email or on the forum still from Pearl CM.
Pearl Capital Markets Ltd (www.fxpearl.com)(www.fxprl.com)
- Thread starter Deepakjain
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Deepakjain
Private, 1st Class
- Messages
- 47
It has been more than 72 hours but no resolution so far on this case. My current scenario broker have withdrawn 6500$ without my request and I donot know what is being done at my account by this scam broker and its director Bala Subramaniam Kovinlakuntala. he is based in India someone please advise how can I rise a complaint in Reserve Bank of India and to report to other financial authorities in india.
Account size 25000 and profit was 35000 on 1st week July. Broker deleted profitable trades and bring equite to 12000 and now 7000 with 6500 withdrawn without my consent.This is pure SCAM and I WAIT FOR more input from FCA/FSA/FINMAA and FX peace army. I wait to hear from governing authorities.
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Deepakjain
Private, 1st Class
- Messages
- 47
THIS IS THE REPLY RECEEVD FROM ST.VINCENT ET GRENADINNES AUTHORITY
Please be advised however, that the Financial Services Authority (the “Authority”) does not ‘Regulate, Monitor, Supervise or licence” International Business Companies (IBCs) which engage in FOREX Trading or Brokerage. The extent of supervision of IBCs goes no further than to ensure that IBCs comply with their obligations under the International Business Companies (Amendment and Consolidation) Act.
An IBC registered in SVG is authorised to engage in any business activity without additional approval from the FSA, except where its proposed business activity amounts to banking, insurance or mutual fund business, as these activities are licensed activities. Please be advised further that an IBC which engages in Forex Trading activities does so at its own risk, as it will not be regulated in this jurisdiction.
Deepakjain
Private, 1st Class
- Messages
- 47
As far as St.Vincent and FCA UK are concerned I expected that I will get a reply and at least they responded to my query. But there is no answers for my email i wrote to their another regulator i.e Seychelles, where Pearl CML [represented by scam artist Balasubramanyam Kovinlakuntala] is regulated with license number SD011, and when i dig out more information in past it was found that seychelles regulation needs a local director there, so I thought its not just a paper backed regulation and it was some decent regulatory who follow all KYC and Anti Money laundering norms but in my case its looks i am deadly wrong here, so far no one from Seychelles regulator contacted me back when i posted this complaint via emails. So what is seychelles Regulator?? Are they actually REGULATING??? Now coming back to my current issues with my trading account: My account number 9000481 was in my name Deepak but now changed to IB's name RAVICHANDRA and it looks some day over night the scam/scumbag broker pearl capital markets limited, change my account bearing name to some different owner name which is highest of scam actions, is Pearl CML and Bala trying to play with my account, its now looking to me like a total mess of their management and a full scale scam in name of regulated brokerage entity. Look at the screen shot plz. Also is this not against KYC norms to change account owner name at wish and will of broker, and is there any regulator worldwide like FATF or any other, where I can report about this sort of actions because sychelles is useless and money laundering facilitating regulator.
I stopped trading on this account from Friday as I see this broker deleted all my profits.My account is now $9040.77 from $35,279.00 all major profitable trades deleted. 6500 withdrawn without my knowledge and understanding on Thursday.More than 15 emails to support and to Bala Subramnayam K still no reply. Can someone guide me I will thank them all my life.
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