Resolved: EASY MARKETS REFUSING TO PAY ME MY IB/AFFILIATE COMMISSIONS OF OVER $5,000.

Hello @The easyMarkets Team I wish to invoke clause 7 under termination of affiliate/IB contract again effective immediately.
View attachment 54581
7.2.5 says the company shall pay all commissions due as set out in this agreement. I'm saying invoke again, because I requested for this already via email check the date I requested and there has been no response to my email since May 15th :View attachment 54582

I am once again asking to terminate my affiliate/IB account with EasyMarkets immediately, please respond here since you haven't responded to my email on this. As at last month commissions accrued stand at $75 hereView attachment 54583So this brings my total balance in my commission account at :View attachment 54584Close my account and send this to my EasyMarkets trading account immediately as I know longer wish to be an IB. Thank you.
Wow! This has still not been resolved?? Then per the agreement closing the account should resolve it amicably and you can part with them. There should other FX forums you can raise this issue with if they refuse to comply by their own terms
 
Dear Andrew, thank you for reaching out to us. We have looked into your IB account and we can see that the commission you generated was derived from a client who was activated back in 2011. As per our Affiliation Agreement clause 4.6, “The IB shall be entitled to receive any commissions generated, for the first four (4) years from the activation of the traders’ account.” Please review our Affiliate Agreement which includes all of these details http://www.forex-affiliate.com/about-us/tcs/
For any further clarifications you may need, we remain at your disposal.
Two issues with this :

1. Your system is automatic, my account goes dormant when I don't refer any client for two months (previously three). So the better part of the previous years when it was dormant I wasn't accruing any commission though the client was trading. I refer some clients and I start accruing again. Your system doesn't accrue commission i'm not supposed to get. This year I have referred 11 clients , 7 or 8 of whom have activated. Unless you're saying I hacked into your system and put my commission balance there.


2. By your own submission the client was activated in 2011 and was under a previous commission structure which means for the lifetime the client trades I get commission. As per your Affiliation Agreement clause 4.2, "You will continue to receive compensation based on the previous compensation structure for those active traders and second tier affiliates that fall under the compensation structure prior to date of amendment." Please don't treat me like I can't read.

The 4.6 clause was updated on :
Screenshot 2020-05-27 at 10.52.44 AM.png

I have been asking you to close my account and send me my balance before that date.On phone you said if I close the account you will zero the accrued commissions. My current balance is $5862, close the account, terminate the agreement and send me my balance. Thank you.
 
It's ridiculous that one of the well known names in the industry finds a way not to pay earned 5k usd to an IB working for them honestly and to mutual satisfaction for so many years.
Easy Markets you just lost your reputation over 5k...no matter what your T&C say. Here's an idea - honor your conditions, refuse to pay commission, show your gratitude to longterm cooperation with your IB and PAY HIM a farewell bonus. Let's say 5k usd, that would be nice.
Procedures honored, IB rewarded, reputation saved, everybody happy.
What do you say?
 
It's ridiculous that one of the well known names in the industry finds a way not to pay earned 5k usd to an IB working for them honestly and to mutual satisfaction for so many years.
Easy Markets you just lost your reputation over 5k...no matter what your T&C say. Here's an idea - honor your conditions, refuse to pay commission, show your gratitude to longterm cooperation with your IB and PAY HIM a farewell bonus. Let's say 5k usd, that would be nice.
Procedures honored, IB rewarded, reputation saved, everybody happy.
What do you say?

They can’t pay may be because they have liquidity issues as rumor has it, if I were a customer I will test withdraw my deposit to confirm if it’s still safe to even trade with Easy Markets.

Consider this as a fair and early warning all customers of EASY Markets!!!

Regards,
Pipcatcher
 
invite-opc.png
The OP has invited the company to this discussion on Jun 12, 2020 at 5:24 AM
I want a public response to my questions and to my request which is why I invited them to respond here. @FxMaster it's been two weeks since their last response and over a month since I made my requests. What next steps do you suggest?
 
Dear Andrew, We have already replied and explained this thoroughly to you through various emails and phone calls. We even tried to see how we could find a solution, making an exception for the years of cooperation with us, despite of your breaching the agreement with different points, but again you were negative. In respect to your commission payment, the Affiliate Agreement stipulates that:

  1. Clause 7.2.5. Upon termination of this Agreement, the Company shall pay the Affiliate all the Affiliate’s Commission due as set out in this Agreement. This would be the case if the following clause was also fulfilled.
  2. Clause 4.6. If the IB fails to generate a New Active User for two (2) months, BCM may terminate this Agreement or suspend the IBs account. During the suspended period, the Compensation plan will be changed and the portfolio of the IB’s clients will stay in the IBs’ account. However, the suspended IB will not earn any pending commission generated during the suspension time. The IB shall be entitled to receive any commissions generated, for the first four (4) years from the activation of the traders’ account”.

Your Affiliate account is now closed as per your request. Due to the fact that the commission at issue is based on clients who were activated more than 4 years ago, as per Clause 4.6, then the IB is not eligible for receiving any commission, therefore Clause 7.2.5 is not applicable in your case.
 
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