CiTrades Negligence, Lack of Communication

[fairdeal]

CiTrades Case

I have been dealing with CiTrades for about 8 months, in that time I have deposited over £30000 in dollars which has been held in an Auto trading binary managed account. The account purports to have a win rate of over 70%, which in my experience it does not.

The balance of my account is now $0.

Here are a few of the low points

1. Absolutely appalling lack of communication, I never got through to my account manager, (Initially Justin) often trying 5 or more times per day without success. Email were rarely answered.
   
   
2. Justin traded my account without a stop loss losing over $50000 overnight. His reaction to my consternation when I eventually contacted him was to suggest that I double up and take advantage of an insured trade to recoup some of the losses, this I stupidly did throwing good money after bad.
   
   
3. Justin was removed as my account manager and replaced by Mark Preston who introduced himself as the Recovery Manager and announced that he would rebuild the account balance if I would only deposit another $10000. Having put £30000 into the account with no return I declined, whereupon he said that he could still recover the balance but that it would take longer this he estimated would be about Jun/July 2016.
   
   
4. Mark changed my account from a VIP which returned 10% of investment for a loss and 100% of investment in the event of a tie to a standard auto trading account with no benefits. This he did without consulting me.
   
   
5. Under Mark Preston Recovery Manager’s management the balance of my account was reduced to less than $0 during this period, despite daily attempts to contact him, he eventually contacted be after the balance was below $0 to say that he had been in hospital, two days later I could not access my account and I have had no further contact with Mark Preston.
   

This catalogue of negligence took place from Oct 2015 to Jun 2016 during which time my account turned over approximately $1000000 CiTrades got the brokers commission from these trades and resolutely failed to manage my account I consider that they have broken their contract with me and that they should refund all monies deposited.

 

[FxMaster]

citrades Marked as a SCAM back in 2015, you can read more about them here https://www.forexpeacearmy.com/public/review/www.citrades.com

Here is the solution: Contact Rebecca here, she will help you to get your money back.
https://www.forexpeacearmy.com/commu...ny-we-can-help-you-get-your-money-back.44561/

 

[Pharaoh]

Go for a chargeback as soon as possible. Every day you wait to file may disqualify one of your deposits. If you can't do it yourself, Rebecca from WinChargeback or another chargeback professional may be your best option.

 

[fairdeal]

I am trying to recover the funds through my bank and credit card supplier, 7-10 days, if no luck then I'll try Rebecca or another chargeback. Any advice?

 

[Pharaoh]

Yes.

Leave them a 1 star review here - https://www.forexpeacearmy.com/public/review/www.citrades.com

Report them to www.eConsumer.gov

Report them to www.isa.gov.il/sites/ISAEng/CONTACT/Pages/default.aspx (Sometimes this one doesn't load even after a few tries. If that happens, try again the next day)

Report them to whatever office handles online financial crime in your country. In the USA, it's IC3.gov in the UK, its ActionFraud.Police.uk In Australia it's ACORN.gov.au and I have no idea what it is anywhere else.

 

[fairdeal]

Thanks for the tips I'll do all of these today and post any progress. I have a case ongoing to recovery credit card payments, I will try to instigate recovery of wire transfers with the bank today as well. Thank again and thanks to anyone else who can offer any advice.

 

[Hakon]

Citrades.com AutoTradingBinary are 1000% sure SCAM. Same owner working with Tradescapital also.
How can this kind of company operate they are justr CRIMINALS.

 

[fairdeal]

Citrades.com AutoTradingBinary are 1000% sure SCAM. Same owner working with Tradescapital also.
How can this kind of company operate they are justr CRIMINALS.

Hi my bank has refused to repay a $10000 debit card payment to CiTrades on the grounds that they are not a scam but a failed investment. Ha! Do you or anyone else have anything in writing stating that they are a scam, from an official body?

 

[Pharaoh]

You may want to consult with WinChargeback. They can often help when a bank refuses to take a closer look at a case.

 

[fairdeal]

Thanks, I have already contacted Rebecca and as soon as I have the final picture from the bank, ( there are three kinds of fund transfer being looked at Debit Card, Credit Card and Wire Transfer), if the result in negative I will get WinChargeback to act on my behalf. I have also opened a fraud case with the Police Action Fraud team.