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Hi can anyone help me with CFD trade on Natural Gas

Discussion in 'Beginners Bootcamp' started by peterakie, Aug 22, 2018.

  1. peterakie

    peterakie Recruit

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    Hi I am sitting with a problem in my trading accout with Tade12.com who I see now are a SCAM
    My problem came I had opened 4 trades on N-gas April contract which expired end of March 2018.No notification was made to me to let me know that I should close these trades, any good broker would. The trades were not closed as I missed it by five minutes and MT4 kept giving me OFF QUOTES error every time I tried to close them. I had deposited 5.5k already in my account but had made about 7K profit until then. But I could not make any withdrawal because these trades were open. No account manager contacted me all this time until end May 2018 . Michael contacted me telling me if I wanted to close the positions I needed to deposit 5,8k and I would be able to withdraw all my money. So I did but I never could deposit the whole amount by the Friday 4pm. I was short about 1.5k and only managed to deposit that on the Saturday. I get a phone call Monday saying I need to deposit another 3k as the market price went up and now I'm short. There was no way had any of that kind of money and asked if there was any other solution but I was told that there was no other solution. I even asked if they could close the trades off one at a time (there were 4 trades of 0.5 units each 1:200 leverage) I then asked them countless time to refund me at least my last deposit as it was not used for what it was intended this fell on deaf ears. I then kept emailing them about this but no answers.
    Then before the contract expired again last month the price had come down and I was sure the trades could be executed with the capital in my account but no one contacted me. Then this week 15 Aug. all of a sudden when the price went back up I was contacted by Nethan James apparantly from the liquidators saying that If the positions arent closed they will be liquidated and I will loose my account at the end of this period which I believe is the 31 Aug. He said that I can get all my money and profit by the end of trading day if I deposit $14k or in two weeks time If I deposit $4k. we can close them off one by one (all of a sudden this is now possible) I have come to the conclution that these brokers will only help you if you make a deposit otherwise its not in there intrest to help you . In any case I don't have 4k and I have no clue how to close the positions.
    Apparantly now my account has ben handed ove to the Liquidators and I am unable to get access to it. Any suggestions would be welcome.
    My positions are:

    1) NGAS-APR18 buy 0.50 2.738 ---> 2.686
    2) NGAS-APR18 buy 0.50 2.742----> 2.686
    3) NGAS-APR18 buy 0.50 2.650----> 2.686
    4) NGAS-APR18 buy 0.50 2.644 ---> 2.686

    My balance is $19 285, Equity is $23 964, Free margin : $22,887 Margin Level(%) 2224.31 Margin 1077.4
     
  2. Jecklom

    Jecklom Recruit

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    Going by your narratives, it's obvious you are dealing a bad broker!

    I strongly recommend you decline any further request for additional funding.

    Meanwhile endeavour to file a report against the said broker at the appropriate fpa section.
     
  3. bigdolly

    bigdolly Master Sergeant

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    Have you tried to file complaint with their regulator, though I doubt they have license from solid regulator probably some offshore worthless piece of paper from corrupted body.
     
  4. Esannniki12

    Esannniki12 Recruit

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    Natural Gas is natural reserve. Saudi Arabia is one of the leaders in trading natural gas. They have a monoply in fluctuating the price of natural gas. I would advise you to read business newspapers to enhance the technicality of you mind. Thanks and available to help in any other matter.
     

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