Problem Resolved - SCAM ALERT - My sad story with Citrades.com

[Pavels Nikitins]

They canceled my withdrawal transaction 3162. Here is their letter:
"Dear Client, We have received your withdrawal request. I do apologize, but in order to place a valid withdrawal request we do have certain guidelines. One of them being, that you must trade 10x the volume of your deposit before withdrawing (if no bonus was applied to your account). For example, if you deposited $300 your turnover would have to be 3000 in order for you to withdraw. If a bonus was given to you, then the required turnover volume (trading volume) has to be 30 times the bonus, as described in our terms and conditions under "PAYMENT PROCEDURE" & "BONUS". Terms & Conditions - Citrades Most clients reach their turnover/trading volume in as little as 30 business days depending on trading habits.
Accounts have a cost to create, and to maintain once they start trading, we cover our costs from the earned commissions from the market based on the volume traded, so we require a certain trading volume to cover our costs, that is why we have this in our terms and conditions available always on our website."
I had a bonus $2000 and my Turnover more then 60 000!!! It's equal $61548!!! They only delay the moment to give my money back! And, possible, use my money for their business... .

 

[Pharaoh]

Update your complaint with ActionFraud,

Update or file a complaint with eConsumer.gov

Maybe it's time to file an FPA Traders Court case?

 

[Pavels Nikitins]

After more then two month of silence Citrades started to contact with me. They send next letter:
"Dear Client,
We have received your withdrawal request. I do apologize, but in order to place a valid withdrawal request we do have certain guidelines. One of them being, that you must trade 10x the volume of your deposit before withdrawing (if no bonus was applied to your account). For example, if you deposited $300 your turnover would have to be 3000 in order for you to withdraw.
If a bonus was given to you, then the required turnover volume (trading volume) has to be 30 times the bonus, as described in our terms and conditions under "PAYMENT PROCEDURE" & "BONUS"... "
My answer was:
"Study your statistics, please...!!!
Here is below printscreen from today''s citrades site. As you can see I have reached $61548 Turnover which is more then 30x the bonus $2000 which you gave to me!!"
and immediately receive an answer from Citrades Accounting:
"The $2000 bonus was on your regular account, but when you upgraded to the VIP account you got $ 5235.74 in bonuses. Therefore the required turnover is 157,072.02"
My answer to Citrades Accounting was next:
"Contractual terms of use of your site Citradesvip.com was: my deposit $3000 and your bonus $2000.
I understand your SCAM-scheme: by your letter's statements you are making me to be "slave forever"("bonuses" produce new turnover which born new "bonuses" and so on) . I have accepted following deposits from your site only like refund/penalty for horrible service and I have a letters which confirmed this. Even more, I have a letter where I said that no need any bonuses.
Post-contractual remedies:
If there is no acceptance of deviation from the terms of the contract (new "bonuses"), and the deviation is serious enough to make any real difference in the intended result of the contract, then the deviating party is said to have breached the contract. His justified prevention or interference with the performance of the other party is also a breach. Breach of contract leaves the nonperforming or improperly performing party open to a claim for damages by the other party. The non- breaching party is relieved of his obligations under the contract by the other party's breach.
So, you still have a time... ."

 

[RahmanSL]

Broker's "bonuses" always come with T&C which are designed to make it very difficult for traders to become profitable and, hence, to come to the point of withdrawing money from their account.

Those brokers who have T&C requirements for traders trading with their own money (without bonuses) are the ones to stay away from.
Keep bugging them for your withdrawals until you get your deposit money and some of your profit money back.

 

[Pavels Nikitins]

I have made adjustment to econsumer.gov ( reference # is 61341974).
I have made adjustment to National Fraud Report UK - National Crime Reference Number: NFRC150300988605.
I have to file an FPA Traders Court case... .

 

[Pavels Nikitins]

I have received a letter from Citrades with ask to assign a time for conversations by phone. My answer was "conversations by mail are preferred to me. If you want to call, please give me the message before. Message has to contain assigned time. I want to invite a lawyer to be present on our conversations. My phone number here is +XXX XXXXXXXXX. - Daniel De Silva knows it. You can call tomorrow, Thursday 30 of April, 2015 on 13:00 ."
Their manager Daniel De Silva knows my mobile, - he called to me on 25 of January 2015. They are making me a fool.
I have requested money withdrawal again.
In assigned time I have wait their call but nobody called. Later I received an answer "...We want to do this professionally as well and have our lawyer, let’s set this call a few days in advance and tell us when next week is a good time for us to call you." My answer was:
"Is the FPA court verdict taught you something?
You are in contradiction with your letter header "Dear Valued Client", -
your service is incredible bad - why didn't you warn me that you reassign your call?
1) I spent a money for the lawyer and waiting in assigned time. Who will compensate me this?
2) How can I assign next conversation if you are not responsible persons? I predict that I will lose a money again.
You are not respect your clients and
you fail to comply with the rules set by you. My transaction of withdrawal my money still suspended:

3314 12:13 28/04/15 $3000.00 Withdrawal pending

48 hours passed, - no actions, no response, no information... . Again."

 

[Pharaoh]

Delay and delay again. Offer hope and then yank it away. It's a common scam tactic to wear down the victim.

 

[Pavels Nikitins]

I have phone conversations with Citrades CEO and as result they sent to me a letter where Citrades.com agrees to and acknowledges that the only bonus which I did receive was 2000 USD. Any other bonus funds in my account shall be deemed refunded trades and therefore will not be counted towards turnover volume needed to make a withdrawal. Citrades.com formally request that I have to remove without hesitation or delay any and all posts, publications or any information of any kind having anything to do with Citrades.com or my account with Citrades.com.
They said: "Once you can prove without prejudice, that these publications have been removed, and that this precondition has been met to the satisfaction of Citrades.com,
we hereby agree that you would fall back into compliance and good standing within the framework and language of the citrades.comterms and conditions.
At which point, citrades.com would honor withdrawal request which is suspended till now."
How are you find this?
Could you explain possibility how to remove my thread and my name from FPA server with this connection? Perhaps I will return my money... .

 

[Pharaoh]

Citrades is aware of the FPA's policy that issues can only be marked as resolved when money owed is paid. Complaints cannot be erased. There have been too many companies that demanded complaints disappear and then found new reasons to withhold some or all of the money owed.

If you complained about a real, licensed financial institution withholding money, could such an institution blackmail you into hiding the complaint as a condition for paying what you are legitimately owed?

 

[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.