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TradersWay Withdrawal problems

Discussion in 'Scam Alerts' started by beefmaster, Sep 21, 2017.

  1. beefmaster

    beefmaster Recruit

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    I have been with Tradersway since around end of April, by the recommendation of a friend, and found them to be nice broker to trade with in terms of commissions, spreads etc. However, no fun at all when it came to witdrawing my money. At one point I came across a review by someone (seems there are many) who'd said they could not withdraw their money, and after some investigation and realizing they were not regulated, I decided to withdraw my funds and shift to a regulated broker.
    I requested the first withdrawal on the 9th of August, and it was supposedly swiftly processed. This withdrawal was a split on the account, half of which belongs to my brother in law, so the other half of that balance was transferred to my other TW account. This was not to shift brokers.
    By the 25th of August, I had not yet received my previous withdrawal, so requested all the rest of my balance, which was just over $1000.

    When requesting both withdrawals, I was not offered other options to withdraw, other than internal transfer or credit card, even though I had made deposits into this account using Skrill.

    I queried the long delays many times, via email and online chat, and receive the same answers each time. They state that they have paid my money from their side and that the issue is with my bank. My bank on the other hand stated categorically that if I had not received the money back within 7 days, that it most definitely was never paid.

    I notified Tradersway, and they again stated that the money was paid. I requested trace numbers from them (ARN numbers), which they then sent, however I've sent these numbers to my bank and they say the numbers are not found. My bank asked me to request a Swift Copy or MT103 from them, but twice Tradersway has simply avoided this request, and suggested that I open a dispute claim with my bank for the original deposits.

    Now my question here is this: Why on earth would Tradersway agree to a dispute for original deposits, when they claim to have already paid me all my money, which includes those deposits and my profits?

    Something is amiss, I have provided them with my bank statements to prove I have not been paid, but yet every time they shrug it off and divert responsibility. As of this morning, the 21st of September, I received yet another confirmation from my bank that there was no money refunded to that card.

    I will provide screenshots of all correspondence with them, as well as screenshots of my account with dates and everything, should anyone like to see these.

    For Tradersway, in case they feel the need to jump in here and once again shrug their shoulders, i'm referring to account number 169860 (1st withdrawal, $416.61), and 187725 (2nd withdrawal $1034.32)

    Can someone please help?

    Thanks and regards,

    Gavin Kukard
    South Africa
     
  2. FxMaster

    FxMaster Lt. Colonel

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    I sent an invitation on your behalf to TradersWay to come here and do the necessary steps.
     
  3. TradersWay

    TradersWay TradersWay Representative

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    Hello,

    Client's withdrawal has been processed on the August 28th and all funds were sent to his card. Since the withdrawal did not reach client's card we asked our processor to provide us with ARNs which all banks within the Visa and Mastercard network are able to use to look up card transactions.

    Keep in mind these numbers are an international standard, and any bank or financial institution that is directly connected to the Visa/Mastercard network has the ability to track purchases and refunds using ARNs. A quick Google search can help familiarize what exactly this number is and how it is used: https://www.quora.com/What-is-an-ARN-number-and-how-to-track-my-transaction-with-that-number

    Therefore, we provided the client with ARNs. However, due to bank's inability to track the transactions using ARNs we suggested to ask the bank to make a chargeback of original deposit transactions so bank could realize the refunds have already been made since chargeback would not go through.

    But, since the bank is still not able to look up the transactions we contacted the client once again to provide us with his bank account manager's email address so we could contact the bank directly and assist them in the process. What really is needed is to get the correct person to help at the client's bank. We see this issue a couple of times per month and it always turns out to be a case of the client's bank having some issue with the refund. A number of companies are involved in processing card transactions, not just us and the client at each end.

    Please correspond with us via email.
     
    FxMaster likes this.
  4. muziwakhe

    muziwakhe Recruit

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    Sorry my friend Unfortunately that is exactly my case regarding my witdrawal my bank told me the arn codes sent by tradersway confirmed there was no refund back to my card and when i asked them about this their email was the same tactic as to say that i must open a dispute claim with my bank thats when i saw a sign and gave up on getting my money im referring to the account 178746 witdrawal of $349 but to new traders out there be careful of tradersway as it shows i was not the only one with the same problem and my account is not a demo
     
  5. beefmaster

    beefmaster Recruit

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    Indeed it seems so. Tradersway has asked me to provide details of an account manager at my bank that they can correspond with directly. I have requested this info from the bank, and will forward this to TW as soon as I hear from them. Then we'll see.
     
  6. muziwakhe

    muziwakhe Recruit

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  7. Poundtrader

    Poundtrader Recruit

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    please keep us inform, i have account with tradersway, you need to let us know if you got your withdrawal
     
  8. beefmaster

    beefmaster Recruit

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    Okay Tradersway, my bank has said that the procedure to be followed is to provide a proof of payment. I have asked you for these twice before, and both times you have not done so. Also, above you mention the transaction of the 28th of August, not the one from the 9th of August. I want it clear here that I have not received either payment.

    Therefore I am now requesting (again), proof of payment for both transactions. Or please cancel the transactions from your side, and resubmit via Skrill. If this was offered as an option from the beginning as it should have, there would not have been any delay.
     
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  9. Poundtrader

    Poundtrader Recruit

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    thank you, keep posting, i will check back in a few days if nothing has been resolve then it's time to get the word out across the internet.
     
  10. beefmaster

    beefmaster Recruit

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    Hi all, just an update. TradersWay sent me a proof of payment today for one of my two missing payments. I have requested the other withdrawal's proof of payment, and also copied my bank representative into the email. Bear in mind that I am missing both withdrawals, hence there having to be two different proofs of payment.

    I'm now hoping that my bank and TW will communicate directly with each other and myself and locate the missing funds. I will be on here in a flash when/if that happens to let you know, let's see.

    Rgds
     

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