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Berndale Capital

I too am having issues with withdrawal from Berndale Capital. I only signed up to them due to being part of The Pattern Trader Mark Shawzin's MAM subscription and BC is their only designated broker.

I received much lesser amount than I should, and they did not bother to reply emails about the discrepancy. There was also no regular statements regarding fund movements available through emails or their website unlike other other brokers.

I have sent them a final email and will also look to make official complaint via ASIC or the Financial Ombudsman Service. Anyone can share their experience doing so?
 
Just to update, Berndale Capital did not respond to my emails about the discrepancy in the withdrawal so I have made a complaint via the Financial Ombudsman Service.

In case anybody interested in The Pattern Trader subscription or considering Berndale Capital, do note that the only advice from Mark Shawzin's support team is "The only advice we can give is to keep sending them emails.", offering no further help to bring across a message to their Berndale Capital contact ( whom they supposed to have close working relationship with) to at least provide me with a clear breakdown of any sort of closing fees involved. Anybody who provides negative feedback on their experience with Berndale Capital on their Facebook group page also gets kicked out of the group, so you will not see a fair and honest experience with Berndale Capital or his MAM service there.
 
Get a thread opened in Scam Alerts and leave a review. That way everyone will be able to see how many complaints their are.
 
I'm overseas in the Netherlands and got my funds from first withdrawal in 2 days also with no hold ups. Just signed up at FPA as following Andrew Mitchem's trading. I am not having other issues in regards to trading at Berndale who were recommended to me by a trader friend in Brisbane. Will touch back if I do as still trading there, sometimes before I struggled to reach the support department but I have a relationship manager who contacts me on email and he's always been very helpful and acts as kind of a middle-man for me
 
I can also confirm a very negative experience when it comes to withdrawing money from this broker. It's clear their business strategy is, "delay and prevent clients withdrawing money as much as possible", whether this takes the form of never calling you back to verify a callback, and poor customer service from their CSRs. When you want to withdraw, all you get is "why".

Also, poor form from the CEO who I finally got through and spoke to personally (the gatekeeper it seems to withdraw your own funds), prying into why I need to withdraw my funds when I stated "for other investment purposes" and then trying find out what my investments are, then when I didn't want to disclose my investments, playing the victim card, like I'm the bad guy for not telling you.

I can picture the sales / manager daily WIP meetings at this firm, and that these scenarios are played out in real life as practice, don't treat your customers in this way.
 
First withdrawal request from BC took over 5 weeks. Did receive a personal call from Stavro, the CEO to explain that the "liquidity provider" is resisting and coming up with excuses to not pay. Mind you, I was requesting my initial capital of $30k as I made some decent profits with this account. At the same time, I was a baffled as this was supposed to be an ECNpro acct therefore, BC doesn't see trade details as they've earned a healthy commission revenue from my trading. But why the resistance from the "liquidity provider" so they say? In any case, I finally received my request after 5 weeks.

Chapter 2: Made another withdrawal request on Aug 15. Still at under 50% of the outstanding balance. It's now been over 2 months and I'm ready to file an official complaint with the federal regulators of AUS. Have pretty much lost trust in all FX brokers, whether ECN, STP or what have you. They'll look for any excuse to steal your money. Shame on them and perhaps, shame on me for trusting.
 
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