A Mr. Simon Oelmann looked after me and promised that we will make a profit in any case. He has been doing this for 10 years.
He changed the company from
trade.com to
trades.com. Trades.com is said to be headquartered in Cyprus, he said, since there was no address either in the online account or on forms.
He promised me that the positions are hedged down, that
a commodity expert was there and we have the most opportunities. I took
in agreement with him a very expensive credit with risk premium.
He told me again and again that for every deposit I get the same amount as a bonus to the online account and we have profits within 4 weeks.
He placed the positions. At the beginning of May 2018,my bank, the Spardabank Munich demanded an agreement with appointment 24/5/18 because the credit line can not be maintained. I informed Mr. Oelmann on 5.5.18. He added more positions. Towards the end of May 2018, I asked for a repayment from
support@trades.com, just a small part, to pay back the required deposit of the savings bank. I did not get any money. I shared this with Mr. Oelmann and together with me he entered values into the online account. The positions then closed after some time and at the end there was no money left on the online account.
The support had called me and pointed out that on the website of
trades.com the warning is that the trade is associated with high risk forex. I said that Mr Simon Oelmann told me that he had a lot of training and we had the best chance. He also said there was one commodity expert left, so we have the most opportunities. He also promised me that we would not make any losses. I had believed that. He is the specialist. I also told him that the positions must be hedged down (falling prices). I do not know the trading platform (with TechInvest Meta Trader 4), do not know me. that they have insurance and what I have back demand. Everything said he can not get it, only 10%. He asks his boss and they put the refund into my online account and I can pay it off. In the end, they just closed my account and I did not get anything back. Mr. Oelmann reacts to no more emails. I can not reach him by phone either. I'm looking for a Address from this company
trades.com and can not find any.
I had written to
trade.com and
trades.com and requested the address of
trades.com.
I did not even get an answer. By telephone, I can not reach anyone from
trades.com and at
trade.com a woman on the phone told me that
trades.com is not a company. But I could not find out the address. Both companies should have their headquarters in Cyprus. Mr. Oelmann said he calls from the 2nd floor of a house in Manchester.
Because of
trades.com I found this page on the internet:
https://deposit-withdraw.com/trades.com . Here you can read||www.trades.com is operated by Domainmatch Limited, address Arch.Makariou III, 173 Lakatamia, Nicosia, 2311, Cyprus under the agreement with us, Trade UP Ltd., address Ajeltake Road, Ajeltake Island, MH 96960, Majuro, Marshall Islands, Register number 90646.
From one attorney I got this answer:
I am qualified attorney of the Marshall Islands based in Hong Kong.
Unfortunately we are unlikely to recover any money for you, as there are unlikely to the assets located within the Marshall Islands.
It appears from the terms and conditions of trade.com that they now operate under “Francis Ltd” instead of Trade Up Ltd (see
https://www.trades.com/terms-and-conditions/terms-and-conditions/).
Operating a FX service using a Marshall Islands company contravenes the law of the Marshall Islands. What I can offer however is to write to the Marshall Island authorities to take action against Francis Ltd and ask them to investigate Francis Ltd for potential breach of the law which may ultimately lead to the striking-off of Francis Ltd as a registered company in the Marshall Islands.