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Trade12

Discussion in 'Scam Alerts' started by Donvilla, Nov 14, 2016.

  1. Donvilla

    Donvilla Private

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    Hi all

    I was contacted by a company, Trade 12, with the chance to open a trading account in July. I did some research into the company and everything appeared to be in order. I then decided to open an account with the minimum amount of $100.
    I made a few small trades and things were going well, I was then contacted with an amazing opportunity to make bigger profits if I transferred additional funds. They again offered 100% bonus, I informed my broker that I would transfer the funds, however once these trades were done, I would be withdrawing some of the funds from my account, no problem, this all went to plan.
    My brokers changed intermittently and every so often I was notified of an opportunity if I transfer additional funds to support my account. Although I was still rather skeptical, I had made some money and was able to withdraw, so decided I would see how things go, knowing that if there was a problem, I would be able to withdraw my funds.
    I am now stuck in 2 lock-trades, whereby I have an open buy & sell position for the same commodities, which I cannot close due to the state of my account. My broker previously advised that I should transfer additional funds to support my account, we can then safely exit the lock trades and I would be able to withdraw from my account. At this point I was highly upset, as it appeared that my broker had knowingly put me in this position, with the end goal being for me to transfer additional funds. It seemed to me like I had no choice, I reluctantly transferred the funds and advised my broker that this would be the last time I transfer any funds. We were able to close the one trade, however the other kept declining. I was then advised to open another trade, thus causing another lock-trade, in order to stop the losses.
    My broker is now requesting that I transfer $6k to open a trade on Facebook which will generate huge profits, thus allowing me to safely close all open trades and I can then withdraw all my funds if I so chose, or continue trading...where have I heard this before...

    I have now advised him that this is absolutely not an option, can we not make smaller trades and slowly fix my account. He responded with a thank you, but I cannot work with you anymore.

    I have seen a few people online have experienced problems trading with this company and the only positive reviews I can find appear to be sales pitches.

    I'm at a loss of what to do now. If I were to close all open trades, I would, at best, get 10%-20% of the money I deposited back, if I were able to withdraw.
    I have discussed with my bank as well, they can go through the process of investigating the transfers to this company if I log a dispute, however this investigation can take up to 45 days.

    Anyone else have any experience with this brokerage?
     
    slavontiy likes this.
  2. Donvilla

    Donvilla Private

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    My broker has now contacted me and informed me that they can offer a credit of $3k, so I just need to deposit the remaining $3k in order to open the Facebook trade. I've also been contacted by a manager who has seen my post on this forum and will be analysing my account and discuss with me broker.
    Will continue to post updates.
     
  3. FxMaster

    FxMaster Lt. Colonel

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    You said you did research about them and you found all good but there are negative reviews about them before July which you can read here http://www.forexpeacearmy.com/forex-reviews/12421/www.trade12.com (You can also share your story there as a review)

    Now 1 advice do not transfer any funds to them before you get anything from there. Ask them the proper reason and T&C where they have mentioned that you have to deposit more to take your deposit back?
     
  4. Donvilla

    Donvilla Private

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    My account has now been handed over to a manager to analyse and he will provide feedback tomorrow. I will request this info from him and post feedback here as well.
    Thank you.
     
  5. Donvilla

    Donvilla Private

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    I've done some more research, perhaps someone can advise whether this means anything?

    Trade12 listed as a company in Majuro - http://www.tradeboss.com/default.cgi/action/viewcompanies/companyid/1082346/
    Whois results - https://who.is/whois/trade12.com
    Global Fin Services Ltd listed on gov.uk - https://beta.companieshouse.gov.uk/company/09836699/officers

    I am going to request a company registration document from them. I assume they should have some sort of certification which would allow them to trade which I can request proof of?
     
  6. holycow

    holycow Sergeant

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    Let's hope you get your issue resolve and also don't forget to share the updates with us. Good Luck!
     
    Donvilla likes this.
  7. Donvilla

    Donvilla Private

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    Thanks!
    Posted a message earlier which is yet to be approved by an admin, basically just trying to figure out if this company is legit.

    I haven't been contacted by them today as yet.
    Funny enough, I suggested to them yesterday that I sell one of the open trades of the lock trade as the commodity being traded on was heading in the opposite direction, they told me I cannot do that as my free-margin cannot support my account. Looking at the way things have gone today, my account would have been in a much better position had they allowed me to do this.
     
  8. Jhon K.

    Jhon K. Recruit

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    Donvilla,

    The more you talk w them the more problems you might get. They are skilled BS scam. I don't want to go deeper but try google some info on them e.g.:

    http://www.consob.it/mainen/documen...eywords=www.trade12.com&docid=0&page=0&hits=1

    http://www.financemagnates.com/fore...fr-adds-forex-broker-trade12-to-warning-list/

    They are also connected with another BS site called MxTrade. A lot of info about it on the internet too. Proof:

    https://drive.google.com/file/d/0BwX4TauICX5LNy1wS2JEUWlHbG8/view

    Run away from them asap.
     
    Donvilla likes this.
  9. Donvilla

    Donvilla Private

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    I've now been contacted by them requesting permission that they perform scalp trades on my behalf. Again, I will need to transfer additional funds in order to go ahead with this.
     
  10. Donvilla

    Donvilla Private

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    Email from Trade 12 as follows:

    "Hello Donovan,

    Thanks for your reply.

    Unfortunately there is bad review on any company who offer online trading as I explained even companies that listed on NYSE and they are public company with full transparency and you can go head and check it.

    It's not my job to answer website reviews I am just explaining the situations that online business are facing as this market making happy and sad investors at the same time.

    Your money is secured in JP-Morgan Chase New York in a separate account and the funds are not together with the company money. It''s the biggest investing bank in the world and I don't know how you can really say that is a scam.

    The situation that was is the US elections effected few instruments as US dollar, Gold, Crude Oil etc if you will bother yourself to read the news you will understand that not only your account is effected from it its all the market, some investors make huge profit and some huge loss. In your case you are losing from one reason because you decided to not protect your margin and consider it as a scam, I am really sorry that is your reaction and it based on site reviews and be part of the noise of those who didn't succeed, you are more then welcome to do it but this will give you when result and is losing your account and not be able to recover it.

    Moreover, is that you have perfect trading with us and all work great you even withdrawal profit no issues just that one trade go not as we expected you decided that we are scam and all is just a lie, but more then 50 trades that you closed on profit and all the work and the brokerage team services was just not good for you and now we are your financial problem and not solution. It really sad me to hear that as I work to long for this company and we having so many happy big clients and see how we losing a client just because market situation and not any other real reason for you been upset from our services and work.

    I am saying all this out of the record, even is on the mail, it very important for me to make all our clients happy, suddenly is not always possible, I will be here if you need any other help or anything I can do for you."
     

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