CaesarTrade, the perfect SCAM?

haniam

Private
Messages
23
I opened an account with CaesarTrade early in January 2015.
It was regulated in a New Zealand, it had some resolved dispute and acceptable rating on FPA, it offered great bonus on deposit AND it seemed good (execution, spread, limit orders, online support...)

I traded first the no deposit bonus for few months. I was satisfied, so I opened a second account under 400% bonus and did some deposit.

I always used these accounts for live strategy testing purpose as they had a high bonus advantage.

I first got my 2nd account to round 3000 USD. In September 2015 I contacted support who told me "It appears you have not meet the lot requirements per policy #5 of the 400% bonus terms and conditions."

I continued trading this account with aggressive strategies for several months, lost most of my equity down to round 70USD then back to 200 in march 2016.

Continuing with same aggressive strategy, I was able to grow my balance to 14K following ECB rate march announcement, compounding my winnings constantly with strict MM.
I doubled my balance to 28k on the aftermath the second day. They decreased my leverage from 300 to 50 (without any notification, I had to figure it out thru MT4 error report). This proves they are monitoring my progress and protecting themselves of over exposure.

Finally using same aggressive strategy and using the FED rate announcement volatility increase I reached 81k balance the week after. Round 77K they decreased again my leverage from 50 to 10 (again without any notification, I had to figure it out).

On march 21, I started asking support for a redeem of my bonus, since my required trading volume had certainly be completed.
They first said :"You can make a withdrawal request and we will review.Please keep in mind you have a 400% bonus account and there are strict terms and conditions."
So I did a withdrawal request. 4 minutes later they sent me the message:"You are not a client of Caesartrade. Your account is closed and any funds entitled to you have been refunded back to the original source.
Please refer to our terms and conditions www.caesartrade.com/400-percent-bonus..."


Since that date, I am unable to access my account, neither my dashboard.

I e-mailed support and all other e-mail addresses I had several times over the past 2 weeks. They never replied back. I never received back any of my funds.

This is my story with CaesarTrade.

When I opened my account they seemed an honest company that was intended to grow, resolving their clients issues and perfecting their services.

After checking recently, I see so many complaints over this company, they became unregulated on an island.
They seems to be wanting to keep (steel) my funds.
Still this company has not been stamped as SCAM.

I want to file a case against them so no other trader would fall into their hands.

Here attached a screen capture of my dashboard before my access was denied.
 

Attachments

FxMaster

Lt. Colonel
Messages
9,145
Two steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Invite him via skype or any communication address you have for him.
 

haniam

Private
Messages
23
I sent an e-mail to invite them to join this thread to every possible address I know:
support@caesartrade.com; jasmine@caesartrade.com; eric.harbor@caesartrade.com; arenoosh@caesarpartners.com; gail@caesartrade.com;
I used Twitter and Facebook also to send them an invitation to join this thread.
I used the phone number on their contact us page to try reaching them. The person that replied to me seemed to be part of a call center. She took my coordinates and told me they will call me back, which they of course did not.
 

FxMaster

Lt. Colonel
Messages
9,145
I sent an e-mail to invite them to join this thread to every possible address I know:
support@caesartrade.com; jasmine@caesartrade.com; eric.harbor@caesartrade.com; arenoosh@caesarpartners.com; gail@caesartrade.com;
I used Twitter and Facebook also to send them an invitation to join this thread.
I used the phone number on their contact us page to try reaching them. The person that replied to me seemed to be part of a call center. She took my coordinates and told me they will call me back, which they of course did not.
Keep us update if you get any reply from them.
 

haniam

Private
Messages
23
After a week of trying to contact them by phone, e-mails, facebook, twitter and even posting on their forum
I have no sign of life from their part.
The forum seems abandoned by its admin.

What is the next step? (I already posted a 1 star review on FPA)
 

Kikkert

Private, 1st Class
Messages
61
The most disappointing fact is "After checking recently, I see so many complaints over this company", why you hadn't check these reviews before, I hope that this would be a good one example for those who start this business without any preparation, randomly, hoping just for luck...

I have no idea what to do in such case either, is it possible to start a legal case against them or smth like that?
 

haniam

Private
Messages
23
The most disappointing fact is "After checking recently, I see so many complaints over this company", why you hadn't check these reviews before, I hope that this would be a good one example for those who start this business without any preparation, randomly, hoping just for luck...

I have no idea what to do in such case either, is it possible to start a legal case against them or smth like that?
As I said, when I opened my account I checked before and they seemed a nice company. I prepared as well as possible.
"It was regulated in a New Zealand, it had some resolved dispute and acceptable rating on FPA, it offered great bonus on deposit AND it seemed good (execution, spread, limit orders, online support...)"

They changed their behaviors later in 2015. Seems that many of the good reviews where for no-deposit bonuses in exchange for reviews and forums comments.

I am asking FPA what is the next step to file a case for traders court.
I did all first steps.

Hopes this clarifies my previous posts.
 

haniam

Private
Messages
23
The next step is to file the court case. Instructions and the filing button are here:

http://www.forexpeacearmy.com/community/pages/traders-court/

1. Try to contact the company about the issue at least 3 times over a period of at least 1 week.

Done intensively for several weeks using all ways

2. Start a thread in the Scam Alerts Folder with the name of the offending company in the subject line.

Done. We are within this thread.

3. Visit our Review Database and submit a 1-Star review for the company with the explanation of your case.
Done few days ago.

4. Did this happen within the last 9 months?
It happened last month in March 2016

5. Make sure you have at least one file for evidence to attach to your case.
Yes. One of them is attached to the first post of this thread.

All these requested steps have been done.

Is anything still requested from me for the case to be opened in the Court Case Preparation Folder so I can come and check on my case often?
 
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