AutoTradingBinary.com

Jetset3000

Private
Messages
21
Hello all, my first post on FPA and it seems the first site review of autotradingbinary.com. I will keep my review factual and happy to add additional information if requested.

I signed up to autotradingbinary.com in August 2015 with an initial deposit of 10,000 USD which was matched with a 10,000 USD bonus. At this level you get assigned to one of their twelve professional traders rather than robot trading. I set my risk strategy to medium. I had read all the negative reviews about citrades.com (their only advertised available broker) and asked to go with a different broker. I was offered www.tradescapital.com in the UK.

Impressed by the initial results, I was talked into investing a further 15,000 USD which again was matched with the bonus a various insured trades (advisor was a guy called Justin based in Isreal but all email replies came from USA time zone). Total investment 25,000 USD. The account traded profitably to a balance of 165,000 USD.

Around a month into trading all activity stopped for two weeks. I was told this was due to "recent volatility in the markets", however their website continued to post profitable trading every day. By this stage I had reached 60% trading volume. Trading recommenced but again stopped shortly after at 78% volume and account balance of 98,000 USD. On 6th October I chased Justin at ATB again and within one trading session of 20 minutes my account was wiped out to a balance 805 USD and 100% trade volume.

I was told by Justin ATB one of their traders had a terrible trading day and had since been let go. However, on a medium risk strategy account I fail to see how my entire investment could be traded, and lost, in one session. I have since emailed stating this is unacceptable and request my investment to be refunded. Please can anyone advise what I can do.
 

Jetset3000

Private
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21
Account overview
 

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Jetset3000

Private
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21
I would also like to add a few words on my research of this company. The website www.autotradingbinary.com is owned by a US citizen named Cody Bourgat. According to their website, ATB is owned by Brevspandnz in New Zealand (4253198). The sole directors were Elijah Samson of Isreal and Jason Scharf of USA. Further, Brevspandnz is 100% owned by Brevspand Limited based in Sofia, Bulgaria. The New Zealand company was struck off in 2014.

I contacted Cody Bourgat directly and he declined to answer any of my questions directly. However from my research it would seem his website ATB is just another affiliate marketing campaign directly traffic to citrades.com broker (Jason Scharf). Because of the close connection between autotradingbinary.com and citrades.com I am calling this a scam.
 

Jetset3000

Private
Messages
21
Here is my last day of trading. Huge losses reducing account balance from 98,000 USD to 805 USD in around 20 minutes trading (medium risk strategy apparently).
 

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chimmy

Recruit
Messages
6
Jetset300, I agree completely. My account was not activated for weeks. I tried contacting Jason to no avail. Leonardo head of compliance in Citrades agreed to get my base investment of 5000.00 back to me. I found later that http://www.autotradingbinary.com/ and www.citrades.com are together. After finally getting Jason on the phone, we argued he hung up on me. At that moment I recognized his voice and realized the times I would call and get a "Justin", and "Justin" would say "Jason" was not in can I take a message? It was the same guy!! Citrades hides behind Autotradingbinary. Im in the process of working with 2 law firms and setting up a lawsuit. Here is the real kicker; I have just been diagnosed with Lupus and have told them I am desperate for my return of money. Anyway they knew this but still no response. eventually Leonardo, the head of compliance said ok but will have to take a 15% early withdraw fee, I responded with a "fine", understood a compromise if that is what has to be done, even though the account was still disabled and there was no trading.
 

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Jetset3000

Private
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21
Hi Chimmy. Did you get your investment returned after your compromise agreement? I have just instructed an attorney against Cody Bourgat (since Jason is in hiding at this time)
 

chimmy

Recruit
Messages
6
No, Zero money back. The lawyer is on retainer and I was going to cut him loose to do research, but you seem to have done well enough. I will save them for later. ..... here is the continuation ......
Micheal Jacobs was supposed to call me, but it had been weeks. I must have sent 20-25 emails. They want to only speak on the phone so nothing is in writing SUCH AS THIS FROM LEINARDO>>

Dear client,

I am going to request special authorization to remove the bonus and have accounting process your withdrawal request. Please be away that in cases like this one there is a 15% cancellation fee and also please be aware that if you initiate any form of defamatory actions online or otherwise against us (like the ones you mention in your email) this issue will move to the legal department and I wont be able to help you solve this nor the authorization.

Best regards,



Leonardo Samuels / Head of Compliance Department http://www.citrades.com



This e-mail message may contain confidential or legally privileged information and is intended only for the use of the intended recipient(s). Any unauthorized disclosure, dissemination, distribution, copying or the taking of any action in reliance on the information herein is prohibited. E-mails are not secure and cannot be guaranteed to be error free as they can be intercepted, amended, or contain viruses. Anyone who communicates with us by e-mail is deemed to have accepted these risks. Company Name is not responsible for errors or omissions in this message and denies any responsibility for any damage arising from the use of e-mail. Any opinion and other statement contained in this message and any attachment are solely those of the author and do not necessarily represent those of the company.

I love most the disclaimer " .....the opinion of the author ..... and the company is not held responsible "
BUT BUT the AUTHOR is HEAD OF COMPLIANCE in Citrades
Oh but wait,This guy LEONARDO " HEAD OF COMPLIANCE" popped up as one of their NEW brokers, take a look >>
Screenshot_2015-11-05-18-39-55.png
WHAT'S MOST IMPORTANT IS THAT THIS TIES CITRADES AND AUTOTRADINGBINARY TOGETHER AS ONE.
Now Mike Jacobs calls me appologizing that AutoTradingBinary has gone through management changes and he was sorry to hear about the problems, as he referenced them as an affiliate or third party. Further evidence of deception and flat out dishonesty, REGULATED MY ASS. So great research Jetset. With your work and more of my dry powder I think we will do some damage. If I don't get my cash back, I am sure as hell going to expose these scumbags for what they really are. This way I will save other people thousands.
EVERYTHING I SAY IS FACTUAL, INCLUDING referencung THE PHONE CALLS , Mike, Jason, Leonardo. You all had your chance.
 

chimmy

Recruit
Messages
6
So after CITRADES denys Being associated with AutoTradingBinary directly and they refuse to give my money back BEFORE trading began AND my account was ddisabled so I could not trade. They lie again saying the wire was sent.
BUT IT GETS BETTER, THEY THREATEN ME LEGALLY! ! >>>>> look at this.
Hello Mr. Kehoe

At this current time, your account has been brought onto our Legal Department at Citrades.com. During this period your account will be frozen including all assets, as we continue our investigation. Currently, we will be doing our initial subpoena on Mr. Jacobs, and Mr. Samuels for all applicable information regarding your account. As what has been recently brought to our attention, below are a few following points under our terms and conditions wherein breaches seem to have incurred........
From this period on, please communicate directly, and exclusively, with us in the legal department.

Regards,



Legal Department
legal@citrades.com

Citrades
1-347-753-8268
http://www.citrades.com
 
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