To set the record straight, this complaint was completely bogus from the outset.
As evidenced below, the originator of this thread deposited a total of $3,076 via five credit card transactions between 2017/05/02 and 2017/08/30. However, by the time we had confirmed the issue with our card processing provider and contacted affected clients, the balance of his account was already down to $370 with just $200 in equity due to his poor trading ability.
The email trail below shows the originator of this thread requesting information for his bank on October 23rd, and was provided with that information on the same day.
He then made no further contact for TWO WHOLE MONTHS (leading us to believe that his bank had all the details needed for the dispute), only to break the silence by posting an inaccurate and reputationally-damaging complaint on this forum.
In particular, his most recent email (below) proves how delusional he really is!
1) He complains that his Christmas holiday was ruined because "funds I WORKED for that were there in my bank account to pay bills and to purchase holiday gifts" were taken by his bank.
Quite clearly, the only funds that could be taken by his bank would be funds they had temporarily credited to his account when he disputed his deposit transactions. That money was therefore NOT "worked for" as he states, and had he provided the relevant information to his bank (rather than posting bogus complaints on this forum) then those funds would still be in his bank account!
2) He then states "My trading account was in the positive but it is now not because you banned access to my own account!!!"
This is an outright lie because no-one was "banned". Moreover, his account equity was only $200 when this situation began and is still positive today - despite his unwillingness to close the trades that have been running since late October.
3) He states "You still have not responded by email or on the forum like I requested."
This comment highlights his delusional state of mind as the original emails between him and our support team include previous responses by both parties. We have also, quite clearly, responded in this forum thread.
4) He then shifts blame for his financial woes onto his bank, stating "I found out unfortunately afterwards my bank has done a horrible job as they did not represent me correctly"
5) He finally mentions "After all the lies and deceit..." - an interesting choice of words when all of the lies and deceit have been from him!
Despite his clear lack of communication and effort in recovering his funds via his bank, we offered him the option of continuing to trade his account or to withdraw the remaining equity.
After more than two weeks, no response has been received as to his intentions so it remains his decision whether to avail of our offer, or to just continue whining in this thread.
@AsstModerator: As you should be aware, all the originator of this thread needed to do was to contact his card issuer and dispute the transactions in question - card issuers have a very simple, standard process for it, and are generally quite cooperative. Once a dispute has been raised, the card issuer subsequently requests supporting information / documentation from the card holder (which we provided).
We now consider the public debate of this issue to be over. If other affected clients require assistance then they may contact us directly.
The email chain with the originator of this thread is provided below:
2017/10/20: Initial response from the post originator:
Hello.
I have just received a strange email from Capital City Markets saying "Urgent Action Needed " regarding my credit card and money needs to be sent , etc etc. I have not made any deposits in months and have not received any monies back in my account as this email from Capital City markets is suggesting. This is a fraud email attempt ?
2017/10/20: Initial response from the support team:
Dear Sxxxx,
This is not a fraud email. The deposits in question are only the card deposits.
These are the transactions in question:
Card deposit (9ef4dba7a0cb4cb5) 2017/08/30 18:09:17 Deposit USD - US Dollar 1,025.64 Completed
Card deposit (4fc8fce60922634b) 2017/07/19 19:39:19 Deposit USD - US Dollar 512.82 Completed
Card deposit (c57e5a830dd2a2f3) 2017/07/14 18:57:25 Deposit USD - US Dollar 1,025.64 Completed
Card deposit (94b9b70c478cc27b) 2017/05/02 15:21:43 Deposit USD - US Dollar 410.26 Completed
Card deposit (a0beb82c61caca98) 2017/05/02 15:14:44 Deposit USD - US Dollar 102.56 Completed
2017/10/20: Subsequent response from the post originator:
What is in question ?
2017/10/20: Subsequent response from the post originator:
Please elaborate , I have the slightest clue in what you are saying.
2017/10/23: Subsequent response from the support team:
Hello Sxxxx,
You, as the client, got charged almost immediately for the deposit and our payment provider confirmed that to us. In order to avoid several days/weeks worth of delays, deposits are "credited" by us to your trading account before we received the actual funds from the payment provider. However the payment provider never delivered your funds to us, which caused this situation.
You have to either call or go to your bank and tell them that you would like to file a chargeback for those particular transactions made via card.
Reason for the dispute can be used as "service not provided. "
Once you submit the chargeback request, your bank will request all your funds from the payment processor, who received your payment
Once the chargeback is approved, you will receive all the funds that you have deposited.
If you wish to continue trading then you will need to re-deposit by bank wire or Bitcoin such that funds have been received by Capital City Markets no later than 27/10/2017. We ask you to also send a confirmation of said deposit (a receipt).
If you do not wish to re-deposit (or fail to do so by 27/10/2017) then please be aware that your account will be suspended and any open trades closed at market on that date.
2017/10/23: Subsequent response from the post originator:
We have gotten to together with my banking institution and went over everything you have exclaimed and all my account activity .
My Banking Institution is requesting from Capital City Markets :
Statements from Capital City Markets from the dates of 4/25/17 forward to current date showing any and all Credit Card and or Debit Card activity on my Capital City Markets account.
2017/10/23: Subsequent response from the support team:
Hello Sxxxx,
You can see the activity under Funding - Ledger. You can send a screenshot of the page to your bank. This would be the faster option. Our billing team is quite busy at the moment, but we may be able to prepare a proper statement for you if the first solution is not acceptable.
2017/12/22: Subsequent response from the post originator (sent 3 times) after two months of complete silence!:
Hello.
I would like you to please join me on a forum at FPA .
2017/10/23: Subsequent response from the support team:
Hello Sxxxx,
Thank you for your email.
A senior member of staff will join the discussion either later today or tomorrow.
We apologize for the delay in responding to you.
2017/12/29: Subsequent response from the post originator:
Hello . I have requested your help for the return of my funds . Please visit the forum.
"We have therefore been waiting for you to provide some feedback that might help us decide how best to proceed "
2017/12/29: Subsequent response from the post originator:
Hello.
Please make all the in question or relevant knowledge about your payment processor information transparent , I.E : their location , their name , their contact information and all reasons related to this case .
2018/01/02: Subsequent response from the support team:
Hello Sxxxx,
We have forwarded your email to the relevant team. They will get in touch with you as soon as possible.
2018/01/03: Subsequent response from the support team:
Hello Sxxxx,
We have reinstated full access to your account. You are free to close your trades and withdraw your funds or continue trading.
2018/01/03: Most recent response from the post originator:
Hello.
Capital City Markets have not been forthright.
While your Holidays were probably fun and cheer filled while mine was completely ruined .
Let me explain .
My bank account has been ruined as charge back policy took the money back after it was reinstated leaving me with a negative $ 2000 plus fees, taking funds I WORKED for that were there in my bank account to pay bills and to purchase holiday gifts... GONE ! My trading account was in the positive but it is now not because you banned access to my own account!!! I asked several times now please forward all payment processor necessary information because now I have help . You still have not responded by email or on the forum like I requested. This started because Capital City Markets BANNED access to our own accounts and told me and other CCM account holders that you they never received the funds for our accounts and we must go after the payment processor that CCM uses .Go through our banks and Visa to retrieve them back as they have supposedly been stolen. So I went ahead and did that with no email correspondence offer , help or advice from Capital City Markets . I found out unfortunately afterwards my bank has done a horrible job as they did not represent me correctly . This left me with a ruined bank account , ruined holidays and ruined trading account.
After all the lies and deceit and who knows what else that is an unacceptable solution.
1. Follow through on payment processor information , please follow through with the information you have said that has helped everyone get there funds back except me .
2. Come up with a better solution .
2018/01/04: Most recent response from the support team:
Hello Sxxxx,
I am sorry to hear about your situation, however, I'm having a hard time understanding some portions of this.
"My bank account has been ruined as charge back policy took the money back after it was reinstated leaving me with a negative $ 2000 plus fees, taking funds I WORKED for that were there in my bank account to pay bills and to purchase holiday gifts... GONE !"
This does not make much sense. If you were credited by your bank temporarily, they may reverse that transaction and some charges may apply (could you specify how much the charges were?).
"My trading account was in the positive but it is now not because you banned access to my own account!!!"
Sxxxx, this is not completely true. Your account had losses well before this situation became apparent and well before your account was placed in "Read-Only". We have not "banned" anyone from anywhere, you could have contacted us in TWO months and we could have created a reasonable solution but you did not do that. We are offering to pay what remains in your account to cover the fees and the stress caused, despite the fact we did NOT receive the funds from the payment service provider.
"So I went ahead and did that with no email correspondence offer , help or advice from Capital City Markets"
This is not true either, we have been in contact with all parties who have asked for help. You did not communicate with us for months, due to which we assumed everything was going smoothly.
"I found out unfortunately afterwards my bank has done a horrible job as they did not represent me correctly . This left me with a ruined bank account , ruined holidays and ruined trading account. After all the lies and deceit and who knows what else that is an unacceptable solution."
If the bank misrepresented you, I am extremely sorry to hear this as usually banks are very cooperative with their clients. If our solution is unacceptable, please let us know what you find acceptable.
