citrades.com is scam

BinaryOptions7

Recruit
Messages
4
Citrades.com has an error in their 'Terms and Conditions' that you can use to withdraw your funds regardless of the balance/volume. If you signed up for a Citrades Account before 9 FEB 15 when I pointed the missing 'and' or 'and/or' error to them in their Terms and Conditions, Section 11 - show the following web page to Visa, Mastercard, or your lawyer. See more at my web page on Citrades at my Christian website here: Citrades.com Terms of Agreement error as of 9 FEB 15

As of today (9 Feb 15) when I informed Citrades (during my own battle with them) of their Terms and Conditions error in their Section 11

covering Withdrawals - anyone who signed up for an account with Citrades before today should be able to Withdraw all their money - so long as they don't close their account. Leave $5 in it. See my signed letter and Citrades Terms and Conditions, Section 11 at my Christian website here: Citrades.com Terms of Agreement error as of 9 FEB 15

As of today, Citrades Terms and Conditions reads:

11. Withdrawal Procedure & Refund Policy

If a client would like to cancel their account and withdraw their money and the client has not accepted a bonus a trading volume of 10X (ten times) the deposit will be required before any withdrawal is granted.

Look at that closely! The way it is worded it ONLY speaks to 'a client client who would like to cancel their account and withdraw their money'. It doesn't address someone who merely wants to withdraw most of their money - but not close their account.

Because it does not say something like "If a client would like to cancel their account and withdraw their money. And/or if a client who just wants to withdraw money without closing their account"...Then I think Citrades doesn't have a leg to stand on.

I pointed this out to Citrades today in a signed letter emailed via a .pdf file to: 'accounting@citrades.com'; 'support@citrades.com';

'compliance@Citrades.com'; 'leonardo@citrades.com'

I also contacted Visa and they returned my $300 to me, awaiting of course Citrades rebuttal.

I am fighting them because of the emails such as below I have gotten from Citrades Accounting which amounts to Usury. No legitimate broker operates like this. When I tried to Withdraw $300 USD (my original Deposit) from Citrades.com, I received the following in an email from Martha Smith at Citrades Accounting: "you must trade 10x the volume of your initial deposit before withdrawing (if no bonus was applied to your account). For example, if you deposited $250 your turnover would have to be 2500 in order for you to withdraw."

I can't imagine how many times the initial volume/turnover would be to withdraw if I had accepted their bonus trading money.
 

freecolley

Recruit
Messages
11
I think so too. Sites that are certified should be liquid if their certifications are real. The presence of Certificates of Liquidity, Certificates of Compliance to Standards, availability of positive reviews and the absence of complaints are good indicators that a binary trading platform is reliable. You can also ask fellow traders for inputs to validate your findings.
I like this comment but I think we're having a wishful thinking of here. Do perfect brokers like these really exist?
 

Robert Ross

Recruit
Messages
8
Did you reach the turnover? Citrades is doing all SCAM now... Contact CEO and Director of Citrades Jason Scharf Directly...
 

Robert Ross

Recruit
Messages
8
Hi Guys,

new update, Jason Scharf, hiding now, started new website.

binaryinternational.com

This is new way to do fraud, be Alert!!!
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,577
The FPA has been contacted by a Reputation Management company. The representative offered a "donation" if this thread would be removed.

I have explained that the FPA does not accept "donations" in exchange for hiding complaints. I made it plain that this could be moved to the Resolved Issues folder only after the original poster (not the FPA) is paid what he is legitimately owed.

I also pointed him to the forums tag for Citrades so he could see what sort of company it is.
 

binarytrader69

Private
Messages
19
How can we contact the owner Jason scharf if he can give the money back , i have also been fooled by this broker and they are not returning my money since 7 months now. Is there any dept who can get money from these scammers ?
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,577
The FPA has been contacted by a Reputation Management company. The representative offered a "donation" if this thread would be removed.

I have explained that the FPA does not accept "donations" in exchange for hiding complaints. I made it plain that this could be moved to the Resolved Issues folder only after the original poster (not the FPA) is paid what he is legitimately owed.

I also pointed him to the forums tag for Citrades so he could see what sort of company it is.
I have some additional information. The reputation manager emailed back. He wrote...

Maybe we can work out something to both our benefits...you can leave all comments for all your site visitors to see, but how about placing a (hide page from Google) tag on that page so it will not be in Google?
I've removed the exact tag he suggested from the quote of his email message. I don't think putting it in the text instead of the page headers will be effective, but I'm not taking any chances of accidetally delisting this page from Google. I replied...

Why don't you ask Jason to pay the money owed to the person who started the thread? This would result in 2 separate threads about this issue being marked as resolved.

It would be unethical for me to hide any information which potential clients might need to evaluate Citrades.

Why do you continue to represent a company like this? Do you want real complaints about real problems by real clients to disappear from Google?
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,577
The guy from ReputationStars just won't give up...

How do you decide who is telling the truth? False reviews are common on internet to try and hurt someone's business! Have you seen any evidence from this poster, or you just believe what people are posting on your site?
For a simple Scam Alerts thread, there often isn't any evidence presented. The FPA balances that by allowing company representatives to come in and post their side of an issue. This thread is different than most. There was a Traders Court case. Here's my reply...

As far as the client in question, he opened another thread and presented evidence. There was evidence to support the story. The offer by the company to make withdrawals easier if the client deposited another $50,000 is a very common tactic of deposit-only brokers. The company was invited to participate in the threads and could have provided evidence to counter the claim, if there had been any such evidence.

Jason has lied to me directly on more than one occasion. He even lied to me while I helped one client get an issue resolved. One of his people hired freelancers to spam the FPA's forums to disrupt discussion threads at the FPA. See post #3 here...

http://www.forexpeacearmy.com/forex-forum/spammers-hall-shame/26366-paid-spam-cititrader.html

I believe this makes it very plain what sort of company CitiTrader/Citrades is. In my opinion, the Scam label on the review page for the company is well deserved.

Why don't you do a little more research on the companies and people who pay you to make bribe offers to hide their bad information?
 

Master Yoda

Captain
Messages
2,929
Basically they prefer to pay kickbacks but not to pay the OP, and why they are insisting to not send a representative to explain themselves?
 
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