EZTrader support channel

[Rick Patterson]

Hi Sevrin
All the information about the withdrawal process is written in the T&C: Binary Options | EZTrader.com | Terms and Conditions.
And as I said, the verification process is a requirement of the regulation and anti-money laundering laws. Of course we would have preferred to simplify every process and pass over bureaucracy, as would any business, but the regulation is critical for us.

 

[Joa]

It is the dirtiest trick, and old as well, that EZTrader and all other dishonest "brokers apply:
Regulation does NOT require any sort of documentation upon withdrawl, you all need to get this straight.
Regulation demands from brokers that BEFORE clients money is deposited he verify the clients identity and information!!!!!!!!!!
Any serious and honest brokerage will ask for ALL DOCUMENTS relating to the client and his ID FIRST and only if and when compliance agrees, the account will be opened!! That's what the laws of money laundering demand.

But EZTrader and most others turn the laws, rules and regulations on the head!!!!!!!!!!!
With the crooked ways that most engage in, they violate the laws, esp. those of money laundering. They are luring clients to deposit, no questions asked, and then the hassle starts when one wants to withdraw the funds again. It is common and crooked, and in some cases criminal practice, esp. by EZTrader, to send only a portion of the funds, therefore holding on illegally to clients funds for weeks and in some cases for months.
First it is EZTrader violating the law by accepting deposits with no verification - and then they are blaming the client for not having submitted the required documentation. This happens in hundreds and thousands of cases, rest assured of that. It's a slap in the clients face when it is stated here that money laundering laws require this kind of crooked procedure, Mr. Patterson! Any broker needing more than 72 hours to transfer the client's money to his account is a crooked organization. Period.
EZTrader and most others play the game of time - until most small "investors" simply give up - and that is what this is all about, right Mr. Patterson?
I invite you to sue me! I'd be pleased to prove my statements in any court of law.

 

[Rick Patterson]

Hi Joa,
I'm no lawyer but as far as I know, regulation and anti-money laundry laws does not require for you to send verification documents for deposits, as it does not require that for any online shopping. On the other hand, it does require you to send the documents when you are receiving money since the trader is not supervised by the authorities for taxes, illegal activities, etc'. We have a legal department which make sure we are following the rules. I'm sure that if the process was violating the law, as you say, the regulator would have informed us.

 

[Joa]

Mr. "Patterson"
This is not some standup comedy show
When did it happen that the financial business is compared to "online shopping"?
You are discqualifying yourself with such a statement.
Wisely you did not comment on the most important issues like your version of money laundering laws which you and most other bucket shops turn on its head.
A serious and REAL broker follows the law by asking from an investor the documents required to avoid money laundering, and does so BEFORE an account is opened and money deposited. That is what compliance is there for - but you don't have that at your company.
Your statement that, in order for the client to withdraw money, you require these documents turns the law again on its head. If you accept funds with no questions asked and you would have received funds from a possible money launderer, you'd have violated the law.
.. and then what? You're going to keep the money, right? You'd be no better than the money launderer. And the decision of what consists of money laundering is made... at your discretion, right??
It's not even funny anymore to argue with a man who apparently has absolutely no idea. But there is a first law of argument: Anything is possible - if you don't know what the hell you're talking about
I repeat this again: By not acting properly when a client wants to withdraw his own money, by taking more than 72 hours for processing, you qualify as a crooked organization at best, and as a criminal entity at worst.
I invite you to pass on this statement to your inexistent "legal department" - and then go ahead and sue me. I'd be the happiest man to prove anything I said in a court of law.

 

[Rick Patterson]

Mr. "Joa"
As I said - If the process was violating the law, the regulator would have informed us. That's all that matters.

 

[Sevrin]

Hi Rick


I find it amusing how you seem to take your regulatory obligations so seriously, is that why the following countries regulatory bodies have been forced either to issue your company warnings and or deregister/deregulate you for the aforementioned and various other violations.

Belgium financial regulator: FSMA
France: AMF
Italy: Consob
Danish: Finanstilsynet
Japanese: FSA

And as I understand it, you are not even allowed to trade Binaries or forex in the US anymore either for just such practices, would you like to refute these claims also?
cySEC is about the only regulator you have to rely on now, and they are just a rubber stamp for your operation, and after the recent financial fiasco in Greece are pretty meaningless, I think it only a matter of time before the FCA in the UK deregister you also, and then the rest of Europe will follow.

Unfortunately for you and your company Rick, this "Support" channel is fast becoming a hole for you that is just going to get deeper!

Oh, and you can keep the small amount of money that I initially invested in EZtrader, for making it so difficult to get it back, I would rather make it my goal to spread the word to other potential clients, NOT to make the same mistake as I did in trusting your advertising, much more satisfying!!!

 

[Rick Patterson]

EZTrader is fully authorized in all EU countries. You can see it for yourself under the name of WGM:

Belgium - Beleggingsondernemingen die ressorteren onder het recht van een andere Lid-Staat van de Europese Economische Ruimte en die het voornemen hebben meegedeeld om in België beleggingsdiensten in vrij verkeer te verrichten - website
France - https://www.regafi.fr/spip.php?page=results&type=simple&id_secteur=1&lang=fr&denomination=wgm
Italy - Consob

You can see all the rest of the links here:
Regulated Binary Options Broker | CySEC Regulations | EZTrader

 

[gazgits]

Well Rick where do I start. Its a long complaint but i will try and keep it short. To summarise i wasn't allowed to withdraw my initial deposit even though their was money in the account than when i started. Deposit £300, bonus £450 = 750. When i asked for the withdrawal the account was at £754. All i asked for was my initial deposit of £300.

When it became clear you would not pay me this i decided to play through the remaining requirements of just under £2100. I asked the chat line and they told me i had until the 7th of August. I asked them to double check this and they confirmed on the 7th. I have this saved as an email.

However as i had a good night i managed to clear the required wagering with my last two trades just before nine.
On completion of these trades i had met the requirements and my account was at £940.
To my horror 5 minutes after completing this my account was emptied.

I spoke to Michael Andrews today and he informs me that i had missed the requirements by £540. However when i informed him that three of his staff had informed me i had cleared the requirements he chose to ignore this and virtually called me a liar.

After this upsetting phone call i once again contacted the chat and they stated i had wagered £12285. My requirements were 25 x total bonus of 490 which equals 12250. Therefore i have clearly made the requirement.

However since then i have struggled to contact my account manager Cameel Swan (never ending broken promises of i will get back to you) or Michael Anderson.
Currently 8 hours i have been waiting for a call after initially being told one hour.

I would also like to point out that i was told by lindsey bloom i had until the 7th of August yet my account was closed on the 5th.
I also find it very suspect that my account was closed 6 minutes after me making the requirements hence no chance to request a withdrawal.

Im hoping i will get a quick response from you but having seen the attitudes of Cameel and Michael i won't hold my breath

And the final complaint i have just found out that Cameel has finished for the day without replying to any of my emails or calls despite promising me he would.

Disgusting behaviour by any company

 

[Rick Patterson]

Hi Gazgits
Please post here the mail address you've registered to EZTrader with. You can also send it my mail: rick@eztrader.com.

 

[gazgits]

Hi Gazgits
Please post here the mail address you've registered to EZTrader with. You can also send it my mail: rick@eztrader.com.

I use gazgits@sky.com