JuliaMarkus6
Private
- Messages
- 19
Hello,
Companies involved: AlgoTechs.com claimed to be a algorithmic EUR USD Forex trading company. Their broker is BeAlgo.com.
Background: I started investing with AlgoTechs.com from March 2018. In 1 year, the returns had almost doubled. Suddenly in beginning of April 2019, they turned my account negative in 3 days. When asked, they said the trades went wrong. They had huge Buy orders at the top and Sell orders at bottom. To recover from this I should invest more.
I asked if I invest more, what is going to be the change in strategy? They said they will engage in manual trading and rescue my account. I asked then why can't I do it myself. They declined.
Scam: On Sunday all my trades were closed. I had enough margin. I asked them how can trades be closed on Sunday, when all exchanges are closed? They gave some silly answer that HSBC margin has increased, etc. I asked for documentation or more details, but no proper answer. Suddenly after few days my closed trades got re-opened. With Sunday closure I started doubting them, when the account "re-surrected", my doubt was confirmed that they are scammers.
Engaging them: Still I tried to engage them. I asked them multiple times to close all Sell orders when market is down and all Buy orders when market is up. With this one coule have easily come out of the mess. This mails were sent to AlgoTechs as well as BeAlgo.
Request to BeAlgo: In end of April 2019, AlgoTechs.com has gone bust. I am still awaiting proper answer from BeAlgo.
Since AlgoTechs.com has gone, the scam is proved. I have transferred my money to BeAlgo. I request them to transfer back all my money. My dispute is based on following reasons -
Request ForexPeace Army Admins to invite support@bealgo.com in this thread. Or enable the option so that I can invite them myself.
Companies involved: AlgoTechs.com claimed to be a algorithmic EUR USD Forex trading company. Their broker is BeAlgo.com.
Background: I started investing with AlgoTechs.com from March 2018. In 1 year, the returns had almost doubled. Suddenly in beginning of April 2019, they turned my account negative in 3 days. When asked, they said the trades went wrong. They had huge Buy orders at the top and Sell orders at bottom. To recover from this I should invest more.
I asked if I invest more, what is going to be the change in strategy? They said they will engage in manual trading and rescue my account. I asked then why can't I do it myself. They declined.
Scam: On Sunday all my trades were closed. I had enough margin. I asked them how can trades be closed on Sunday, when all exchanges are closed? They gave some silly answer that HSBC margin has increased, etc. I asked for documentation or more details, but no proper answer. Suddenly after few days my closed trades got re-opened. With Sunday closure I started doubting them, when the account "re-surrected", my doubt was confirmed that they are scammers.
Engaging them: Still I tried to engage them. I asked them multiple times to close all Sell orders when market is down and all Buy orders when market is up. With this one coule have easily come out of the mess. This mails were sent to AlgoTechs as well as BeAlgo.
Request to BeAlgo: In end of April 2019, AlgoTechs.com has gone bust. I am still awaiting proper answer from BeAlgo.
Since AlgoTechs.com has gone, the scam is proved. I have transferred my money to BeAlgo. I request them to transfer back all my money. My dispute is based on following reasons -
- If they really have a broker license, then they should close Sell orders at bottom and Bur orders at top.
- Else, it is proven that BeAlgo has no forex trading license.
- This is a classic case of money laundering. They took my money under the pretext of "algorithmic forex trading", but in reality they have transferred my money to some East European or Offshore locations. This is also stated in their Anti-Money Laundering policy https://www.bealgo.com/Aml.
- There is no real forex trading, but only a video game sort of thing is shown to us.
Request ForexPeace Army Admins to invite support@bealgo.com in this thread. Or enable the option so that I can invite them myself.