RESOLVED Case# 2015-061 | Pavels Nikitins vs Citrades.com

[ruseneca]

My point of view is different and it is based on the evidence provided - Terms and Conditions.
It is stated that there's a requirement for volume turnover. There's no evidence that the client has complied / not complied with this term which makes me think of staying away from voting guilty or not. I cannot make a decision without any proof from both sides - trader and broker.

However, it is obvious that some BO "brokers" have very poor services and offer signals, deals copy or managed accounts. Never trust such companies! Ask for real statements, dated within the last 5 years ( if possible ). In case they have a stable profit ( higher than banks' interest rates ), then you can think of making a small deposit to try the broker. Else, it is a betting for me! Betting on which scammer you will choose by playing "Eenie meenie miney mo".

 

[Master Yoda]

My point of view is different and it is based on the evidence provided - Terms and Conditions.
It is stated that there's a requirement for volume turnover. There's no evidence that the client has complied / not complied with this term which makes me think of staying away from voting guilty or not. I cannot make a decision without any proof from both sides - trader and broker.

However, it is obvious that some BO "brokers" have very poor services and offer signals, deals copy or managed accounts. Never trust such companies! Ask for real statements, dated within the last 5 years ( if possible ). In case they have a stable profit ( higher than banks' interest rates ), then you can think of making a small deposit to try the broker. Else, it is a betting for me! Betting on which scammer you will choose by playing "Eenie meenie miney mo".

According to the account manager, the terms and conditions for withdrawal is to trade " 10x the volume of your deposit before withdrawing". Even if this is the case and that is really the terms and conditions, this is against any consumer law I know, against any regulator law I know and this is playing no fair against the client.

I know just one principle: your money is your money, no one else. This broker has gone too far with that and that's why he should be get guilty verdict on this case.

 

[ruseneca]

According to the account manager, the terms and conditions for withdrawal is to trade " 10x the volume of your deposit before withdrawing". Even if this is the case and that is really the terms and conditions, this is against any consumer law I know, against any regulator law I know and this is playing no fair against the client.

I know just one principle: your money is your money, no one else. This broker has gone too far with that and that's why he should be get guilty verdict on this case.

@Master Yoda,
In several posts I have claimed that Binary Options platforms are like casinos. You have 2 simple options - to predict whether price of a certain asset will be higher or lower within a certain period. In casinos, it is almost the same ( at roulettes ) - you just bet on red or black, then the roulette is spinned and after a certain time, you know whether you are a winner or loser. Platforms manage the risk by asking clients to place a certain amount of bets, due to the fact that sooner or later, they will lose. It is something that regulators do not inspect. Their duty is to observe the capital adequacy of a company and whether it complies with the law.
There are even forex brokers which put in their T&Cs such clauses that you can withdraw once you trade X lots OR you can withdraw minimum $100 from your trading account. It is essential to read and understand terms and conditions applied before opening an account with the broker. This is your main source of information about your future experience. A company cannot be blamed for actions that the client is meant to do! At least, everything is black and white. This is in general.

However, I cannot miss the fact that there are 3 different opened cases against this binary options platform which turns my red alarm on! In addition, I have never heard of this platform. We see that the biggest ( by capital ) companies cheat and scam their clients, what we should expect from smaller onces?!

 

[help1]

This is a fraud company and scammed many clients for millions $$$ , Many clients have opened complained with CFTC, FBI etc,, They using fake names.... Jean Hermans real name is Danny Schabbas and Martha Smith is Sam Seknon ... the owner is Jason Benjamin Scharf and Cody B. with Elie Scharf and Jeremy Scharf Directly involved with company in Israel and USA... Danny Schabbas and Sam Seknon located in Israel office , Jason is US citizen have multiple citizenship's like Israel, Italy and involved in Money laundering and cyber crime ..... his parents with all family involved in this who are located in California..........Please contact CFTC and FBI immediately to get your money back.............

 

[Robert Ross]

Guys Triple S is just a fake name used, the real company is in Bulgaria.... The owner is Jason Benjamin Scharf, using a fake owner for companies to hide himself. He is a US and Israeli citizen. stole a lot of money from clients... you can check his criminal record in Valley Village CA, his Father and brother are part of this crime.
Also his Marketing Partner is Cody B, runs company 4MostLLC.

Current location of Jason is in Israel, his hideouts are with his Girlfriend in Italy.

 

[Pavels Nikitins]

Successful Withdrowal of Money

Hello,
I should inform you that I've successfuly finished Money's Withdrawal from CITRADES company (Transaction ID 3314 dated 28/04/2015 Amount $3000.00). Here is below a screenshot from my banking account.

Hereby I withdraw my claim to CITRADES and ask you to remove information connected with this.
Thank you very much.

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