Original FPA Traders Court Submission:
I am submitting the case against: Stockpair
My Case is: I started trading Binary option with stockpair.net since April 2017 after survey the market knowing that Stockpair is a good and reliable broker.
1. On the 3rd months using their platform (June 2017), out of no where I received an email from their compliance department - stating that my trading account is now under review for trading activity which does not seem to comply with their Term and Conditions especially Clause 8, 11 and 12. Below is their email to me :-
Dear Xin Ling Loke,
We are notifying you that your account is under review for trading activity which does not seem to comply with our Terms and Conditions which you agreed to upon registration for an account with stockpair, and especially, but not limited to, Clauses 8, 11 and 12.
We will notify you within 7 business days of our findings. Kindly note during the investigation you will be able to log in to your account, but not to deposit funds, request withdrawals, or execute trades. Any pending withdrawal request will be reviewed and processed after the investigation.
If you have any comments or information that will assist this review, please send by return email.
2. Few days prior to this incident, my trading payout was reduced tremendously from 70-71% to only 63-64%. As explained by their customer service, ratio is changed from time to time without having to inform trader due to market conditions. And when I use different account to check the payout ratio, the ratio was totally different than mine. My account remains 63-64% while the other account stands at 70-71% for same asset and same expiry time. Knowing that my account is under some sort of manipulation, I proceed withdrawal of my winning profit $1,500.00
3. Few days after receiving the email, stockpair.net compliance replied to me regarding the investigation - their verdict is that they have finished the review and said that I violated their T&C but they simply WILL NOT reveal what I have violated (in which i did not after reading their clauses on website) and in the email clearly stating that they WILL NOT communicate to me on any queries regarding this verdict (I have the right to know and fight for what is wrong and now I am just being shut off from communicating!)
In their email they mentioned all the trades taken after 18th April will be reversed, be it winning or losing trades all will be nullified.
A day after, my trading account went from 3500USD to -273.60USD! And all my withdrawal requests were cancelled. The company just took away all my money.
This is a total scam - without any proof they simply wiped out my account and take away all my winning profits and refusing me to get in contact with them. I want justice be done and my money back.
New thread in the Scam Alerts Folder:
Review is submitted by Cl3159 on 06/28/17
The company was first contacted about the issue on 06/22/17 the last contact was on 06/29/17
Details: 1st reply to me from Stockpair:-
Dear Xin Ling Loke,
Further to our previous email, we would like to inform you that the Company has completed its review of your trading activity.
The result of our investigations reflect abuse of our site and services, which is not limited to the details in clause 8 of our Terms and Conditions. In accordance to Company Policy, we will not enter into further communication with you with regards to his matter. We take abuse of our site or services very seriously and we will not share with you the contents of our investigation as this in itself could be misconstrued as aiding in the abuse of systems and services.
Kindly note that, in accordance to the above, your recent trading activity, from the 18th April to date will be reversed which includes all trades in loss and in profit.
Further to this we would like to inform you that we will continue to monitor your trading activity and will notify you in advance should our systems reflect again any instances which may be in breach of our Terms and Conditions.
My response:-
Hi,
Thank you for you update.
But your email is not clear and I don’t want to be cheated.
May I know if my withdrawal will be processed?
Thank you.
2nd reply to me from Stockpair:-
Dear Ms Loke,
As per our email your trading activity from the 18th April onwards has been reversed, this has affected your account balance, which is now in a negative balance, your account has been reinstated and you will be able to see your account balance from within your MyAccount.
Kindly note that your previous withdrawal requests were processed.
Should you wish to continue trading you will need to deposit an amount which would also cover the negative balance on your account.
My response (+) Invitation to have proper conversation :-
Thank you for your swift response.
I see that my account has been nullified. May I know what have I violated ? Everything was okay. I have been trading for 3 months without any problem at all.
Can you please clarify? Thank you.
(Invitation to have proper conversation)
Dear all,
Pertaining to the matter below, I would like to bring to your attention - https://www.forexpeacearmy.com/community/threads/scammed-by-stockpair.51038/
I have lodged a case pertaining this and I really would like to resolve this soonest possible and to get back all my hard earn money. Please understand that whatever amount you have just taken away from my account might seem very little to you but to me in my country it is a big sum where it could well feed my families for months! I really appreciate if you could please try to understand my situation here and resolve it nicely.
I’d love to have a proper conversation with you.
Thank you.
3rd and final reply from Stockpair (Copy and paste from previous email):-
Dear Ms Loke,
As per our previous email, the result of our investigations reflect abuse of our site and services, which is not limited to the details in clause 8 of our Terms and Conditions.
In accordance to Company Policy, we will not enter into further communication with you with regards to his matter.
We take abuse of our site or services very seriously and we will not share with you the contents of our investigation as this in itself could be misconstrued as aiding in the abuse of systems and services.
Company representatives' emails: Compliance <compliance@stockpair.net>
Support <support@stockpair.support>
Daniel Markov <daniel.markov@stockpair.net>
Bill Shnizer <bill.shnizer@stockpair.net>
I am submitting the case against: Stockpair
My Case is: I started trading Binary option with stockpair.net since April 2017 after survey the market knowing that Stockpair is a good and reliable broker.
1. On the 3rd months using their platform (June 2017), out of no where I received an email from their compliance department - stating that my trading account is now under review for trading activity which does not seem to comply with their Term and Conditions especially Clause 8, 11 and 12. Below is their email to me :-
Dear Xin Ling Loke,
We are notifying you that your account is under review for trading activity which does not seem to comply with our Terms and Conditions which you agreed to upon registration for an account with stockpair, and especially, but not limited to, Clauses 8, 11 and 12.
We will notify you within 7 business days of our findings. Kindly note during the investigation you will be able to log in to your account, but not to deposit funds, request withdrawals, or execute trades. Any pending withdrawal request will be reviewed and processed after the investigation.
If you have any comments or information that will assist this review, please send by return email.
2. Few days prior to this incident, my trading payout was reduced tremendously from 70-71% to only 63-64%. As explained by their customer service, ratio is changed from time to time without having to inform trader due to market conditions. And when I use different account to check the payout ratio, the ratio was totally different than mine. My account remains 63-64% while the other account stands at 70-71% for same asset and same expiry time. Knowing that my account is under some sort of manipulation, I proceed withdrawal of my winning profit $1,500.00
3. Few days after receiving the email, stockpair.net compliance replied to me regarding the investigation - their verdict is that they have finished the review and said that I violated their T&C but they simply WILL NOT reveal what I have violated (in which i did not after reading their clauses on website) and in the email clearly stating that they WILL NOT communicate to me on any queries regarding this verdict (I have the right to know and fight for what is wrong and now I am just being shut off from communicating!)
In their email they mentioned all the trades taken after 18th April will be reversed, be it winning or losing trades all will be nullified.
A day after, my trading account went from 3500USD to -273.60USD! And all my withdrawal requests were cancelled. The company just took away all my money.
This is a total scam - without any proof they simply wiped out my account and take away all my winning profits and refusing me to get in contact with them. I want justice be done and my money back.
New thread in the Scam Alerts Folder:
Review is submitted by Cl3159 on 06/28/17
The company was first contacted about the issue on 06/22/17 the last contact was on 06/29/17
Details: 1st reply to me from Stockpair:-
Dear Xin Ling Loke,
Further to our previous email, we would like to inform you that the Company has completed its review of your trading activity.
The result of our investigations reflect abuse of our site and services, which is not limited to the details in clause 8 of our Terms and Conditions. In accordance to Company Policy, we will not enter into further communication with you with regards to his matter. We take abuse of our site or services very seriously and we will not share with you the contents of our investigation as this in itself could be misconstrued as aiding in the abuse of systems and services.
Kindly note that, in accordance to the above, your recent trading activity, from the 18th April to date will be reversed which includes all trades in loss and in profit.
Further to this we would like to inform you that we will continue to monitor your trading activity and will notify you in advance should our systems reflect again any instances which may be in breach of our Terms and Conditions.
My response:-
Hi,
Thank you for you update.
But your email is not clear and I don’t want to be cheated.
May I know if my withdrawal will be processed?
Thank you.
2nd reply to me from Stockpair:-
Dear Ms Loke,
As per our email your trading activity from the 18th April onwards has been reversed, this has affected your account balance, which is now in a negative balance, your account has been reinstated and you will be able to see your account balance from within your MyAccount.
Kindly note that your previous withdrawal requests were processed.
Should you wish to continue trading you will need to deposit an amount which would also cover the negative balance on your account.
My response (+) Invitation to have proper conversation :-
Thank you for your swift response.
I see that my account has been nullified. May I know what have I violated ? Everything was okay. I have been trading for 3 months without any problem at all.
Can you please clarify? Thank you.
(Invitation to have proper conversation)
Dear all,
Pertaining to the matter below, I would like to bring to your attention - https://www.forexpeacearmy.com/community/threads/scammed-by-stockpair.51038/
I have lodged a case pertaining this and I really would like to resolve this soonest possible and to get back all my hard earn money. Please understand that whatever amount you have just taken away from my account might seem very little to you but to me in my country it is a big sum where it could well feed my families for months! I really appreciate if you could please try to understand my situation here and resolve it nicely.
I’d love to have a proper conversation with you.
Thank you.
3rd and final reply from Stockpair (Copy and paste from previous email):-
Dear Ms Loke,
As per our previous email, the result of our investigations reflect abuse of our site and services, which is not limited to the details in clause 8 of our Terms and Conditions.
In accordance to Company Policy, we will not enter into further communication with you with regards to his matter.
We take abuse of our site or services very seriously and we will not share with you the contents of our investigation as this in itself could be misconstrued as aiding in the abuse of systems and services.
Company representatives' emails: Compliance <compliance@stockpair.net>
Support <support@stockpair.support>
Daniel Markov <daniel.markov@stockpair.net>
Bill Shnizer <bill.shnizer@stockpair.net>
