Original FPA Traders Court Submission:
I am submitting the case against: www.caesartrade.com/
My Case is: 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.
New thread in the Scam Alerts Folder:
Review is submitted by Hani on 04/06/16
The company was first contacted about the issue on 03/20/16 the last contact was on 04/06/16
Details: The only reply was on Mar 21, 2016. They never replied after that.
"Hi, 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 (the last paragraph)"
I have not breached any term or condition.
After that they just disabled my account and my access to the dashboard, and never replied again. (only automatic e-mail reply "We do not respond to every email. It is your obligation to read the FAQ below.")
Company representatives' emails: CaesarTrade FX-CFD, Support <support@caesartrade.com>
Eric Harbor <eric.harbor@caesartrade.com>
Jasmine - Caesar Personal Account Manager <jasmine@caesartrade.com>
Arenoosh <arenoosh@caesarpartners.com>
I am submitting the case against: www.caesartrade.com/
My Case is: 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.
New thread in the Scam Alerts Folder:
Review is submitted by Hani on 04/06/16
The company was first contacted about the issue on 03/20/16 the last contact was on 04/06/16
Details: The only reply was on Mar 21, 2016. They never replied after that.
"Hi, 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 (the last paragraph)"
I have not breached any term or condition.
After that they just disabled my account and my access to the dashboard, and never replied again. (only automatic e-mail reply "We do not respond to every email. It is your obligation to read the FAQ below.")
Company representatives' emails: CaesarTrade FX-CFD, Support <support@caesartrade.com>
Eric Harbor <eric.harbor@caesartrade.com>
Jasmine - Caesar Personal Account Manager <jasmine@caesartrade.com>
Arenoosh <arenoosh@caesarpartners.com>