paulm1162
Sergeant
- Messages
- 125
This sounds like clear cut fraud.
I'm confused on one point though. How much money did you actually deposit? By reading the description it seemed you deposited $315 and change and then were enticed to make a $9,000 wager. Did you deposit more money at that time?
Here's the thing that struck me the most... It is illegal, certainly against any broker/dealer regulatory rules and regulations to provide guarantees or "insurance" against loss to any customer accounts. If such "insurance" were available the markets would be a zero risk game. If everybody won, where would the funds come from to cover the "winners" who were correctly positioned for the market move?
In any case, even if the broker does finally return the plaintiff's funds, the broker belongs in the fraud file.
Hi dbrawner,
originally i funded it with £315.00 on which i placed 2 trades so the broker could show how "brilliant" he was at reading the markets, making £40.00 profit combined.
He went on for 5 hours, finally and only after guaranteeing me that these were insured against loss of 95% and were not part of any bonus did I take one and eventually three, totalling £9000.00 for the "insured" trades, as even though i didn't have that kind of money was persuaded to max out credit card due to insurance.
When 2 trades failed i got back £5700.00 as a bonus which the broker claimed i had to play through 10X,.which meant £9315.00 + £5700.00 X 10 (a figure which varied depending how close you got to it)
A week later, after trying to get me to turn it into a managed account and my refusal, the broker withdrew £12000.00 from my debit card without ANY authorisation, unless you call NO as authorisation, I later THOUGHT i had been paid this money back as it had all been returned, but my credit card has attempted a charge back for £7000.00 for mis sold trades, (the other £2000.00 coming from debit card), but this has been denied as Lbinary claim £7000.00 has already been paid back to credit card, but this was because, of the stolen £12000.00 NOT THE INSURED TRADES, they paid £7000.00 onto my credit card and £5000.00 onto my debit card.
When i asked support why this was they just said "it's just the way we do things" and in another email said they had to place the money back where it came from??? odd!! as it all came from my debit card.
They are thieves, liars and scammers.
The above just goes to show their obvious fraudulent way of avoiding charge backs, not to mention their threats and blackmail attempts ie "we'll let you have £3000.00 plus £10,000 bonus if you place a retractment of my complaint on forex peace army site", this as well as not prosecuting me.........b****ds