burrocampeador
Private
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WorldWideMarkets (worldwidemarkets.com) is a SCAM. Don't join them!! I have proofs.
They are market makers. It looks that, when you win, they loose. They give you very good prices, specially during news. But when you want to withdraw your profits, the cancel your account and all your trades. After a long wait, they finally give you back your initial money (not your profits).
I am a news spike trader, so I usually have a 30% monthly. I opened an account with WorldWideMarkets on July 2013. It was the recommended broker for a spanish-language news service called "Autoclick news institucional" (autoclicknews.com). The autoclicknews boys had refer with this broker, so the broker knew perfectly that we did news spike trading.
Everything was great for 6 months (good prices, good service), until I requested my first withdrawal on 20th December. Then, they dissapeared: they didn't confirm my withdrawal request by email, they didn't answer my emails... 3 weeks waiting to my money without news or answers. Finally, on 8th January, they emailed to me the following "suspension notice":
"Effective January 7, 2014, your Trading Account(s) with WWM is suspended per Section 18.5 of the Customer Agreement. WWM is conducting an investigation, which will be completed by January 21. During this time, you will only be allowed to close Open Positions. No trades may be placed, nor may funds be withdrawn."
Again, they didn't answer my emails asking for further information about the causes of my suspension. No feedback until the final "account termination notice", on 22th January:
"Per our letter to you on January 7, 2014, we have conclude the investigation of your Trading Account(s) referenced above. WWM has concluded that these accounts have violated our Customer Agreement, specifically sections 14. Manifest Error; 15. Arbitrage; 16. Price, Execution and Platform Manipulation.
WWM is exercising its rights under the Customer Agreement to (1) void all trades and placed in the account; and (2) terminate your account and refund deposited funds from the applicable account unless withdrawn funds have exceeded the deposited amount."
Then, I asked for deeper explanations, but they never answered any of my emails. I tried to communicate with them using their live chat, but they never gave me relevant information. The same by telephone.
Reading the terms and conditions, I didn't violate any of the mentioned sections. There was no manifest error or price/execution/platform manipulation: I traded with the price they gave to me at each moment, using their MT4 platform. Of course, I didn't arbitrage... I did news trading, that is very different than arbitrage and it is a common and simple strategy. In fact, they allowed me to trade without problems for months until I tried to withdraw my money on December 2013.
Finally, after a long wait without any answer of my emails, I received my initial money (not the profits) on 7th February. I lose about 20.000 euros of profits.
Don't join this broker! It is a big scam!
They are market makers. It looks that, when you win, they loose. They give you very good prices, specially during news. But when you want to withdraw your profits, the cancel your account and all your trades. After a long wait, they finally give you back your initial money (not your profits).
I am a news spike trader, so I usually have a 30% monthly. I opened an account with WorldWideMarkets on July 2013. It was the recommended broker for a spanish-language news service called "Autoclick news institucional" (autoclicknews.com). The autoclicknews boys had refer with this broker, so the broker knew perfectly that we did news spike trading.
Everything was great for 6 months (good prices, good service), until I requested my first withdrawal on 20th December. Then, they dissapeared: they didn't confirm my withdrawal request by email, they didn't answer my emails... 3 weeks waiting to my money without news or answers. Finally, on 8th January, they emailed to me the following "suspension notice":
"Effective January 7, 2014, your Trading Account(s) with WWM is suspended per Section 18.5 of the Customer Agreement. WWM is conducting an investigation, which will be completed by January 21. During this time, you will only be allowed to close Open Positions. No trades may be placed, nor may funds be withdrawn."
Again, they didn't answer my emails asking for further information about the causes of my suspension. No feedback until the final "account termination notice", on 22th January:
"Per our letter to you on January 7, 2014, we have conclude the investigation of your Trading Account(s) referenced above. WWM has concluded that these accounts have violated our Customer Agreement, specifically sections 14. Manifest Error; 15. Arbitrage; 16. Price, Execution and Platform Manipulation.
WWM is exercising its rights under the Customer Agreement to (1) void all trades and placed in the account; and (2) terminate your account and refund deposited funds from the applicable account unless withdrawn funds have exceeded the deposited amount."
Then, I asked for deeper explanations, but they never answered any of my emails. I tried to communicate with them using their live chat, but they never gave me relevant information. The same by telephone.
Reading the terms and conditions, I didn't violate any of the mentioned sections. There was no manifest error or price/execution/platform manipulation: I traded with the price they gave to me at each moment, using their MT4 platform. Of course, I didn't arbitrage... I did news trading, that is very different than arbitrage and it is a common and simple strategy. In fact, they allowed me to trade without problems for months until I tried to withdraw my money on December 2013.
Finally, after a long wait without any answer of my emails, I received my initial money (not the profits) on 7th February. I lose about 20.000 euros of profits.
Don't join this broker! It is a big scam!
