I have deposited $20,000 with MaxCFD and would like it back

[bennedetteboshoff]

I will keep you updated. I hope you get your money back as well.

 

[marilynmadella]

Good news for anybody who has been scammed by a Binary Options firm and used their VISA card.
As of 14th October 2017 Visa has started providing Dispute Rights for customers scammed by Binary Options Companies. This means that when your bank initiates a ChargBack to get your money back the new rule will work in your favour and help you to get your money back !!!!! If you have been scammed do not waste any time in initiating a charge back.

 

[bennedetteboshoff]

Hi, I have emailed MaxCFD numerous times, almost like in every 2nd day requesting when the finance team will do the payment. The message I have received this morning.......

Good day to you!

Kindly note that the content of your email has been well taken into account.

A reminder of your withdrawal request has been forwarded to the finance team.

They shall do the necessary do process your withdrawal as soon as possible.

Once an update is received on our side, we will notify you.

Best regards,
Will
Support Team

 

[scammedbychrisrose]

Good news for anybody who has been scammed by a Binary Options firm and used their VISA card.
As of 14th October 2017 Visa has started providing Dispute Rights for customers scammed by Binary Options Companies. This means that when your bank initiates a ChargBack to get your money back the new rule will work in your favour and help you to get your money back !!!!! If you have been scammed do not waste any time in initiating a charge back.

hi Marilyn
have you managed to get a refund yet ?

 

[adibhakta]

Good news for anybody who has been scammed by a Binary Options firm and used their VISA card.
As of 14th October 2017 Visa has started providing Dispute Rights for customers scammed by Binary Options Companies. This means that when your bank initiates a ChargBack to get your money back the new rule will work in your favour and help you to get your money back !!!!! If you have been scammed do not waste any time in initiating a charge back.

hello can i please know more about this who to talk to and any number and information if possible

 

[marilynmadella]

My account number is 2111419

On 16/10/2017 I was googling what is Bitcoin. Somehow I ended up on the MaxCFD website ... I thought just to try out buying Bitcoin a bit as an experiment I signed up and bought $500 worth. Literally a minute later I got a call from someone called Max Hudson who welcomed me to Maxcfd. That same afternoon I got a call from their Senior Trader called Chris Rose. A Croatian living in London. He was very polite and informative and told me he would call me the next day to tell me all about Maxcfd and trading.

I was happy to listen and the next day took his call, Before I knew it he had persuaded me to call my bank and I sent him two payments of $10,000 each. This was apparently to buy 4 Bitcoins he had taken it upon himself to reserve for me (post my initial small trade)
He also gave me a whole trading lecture on how he was going to manage my money with 50% in long term, 30% short term and 20% liquidity. He told me he had over 300 very happy clients for which he was making a load of money and that MaxCFD had more than 800,000 clients worldwide including some very large corporates all of whom are very happy with the service they are receiving.
He said MaxCFD is regulated by the LTI.

There and then on 17/10/2017 he got me to buy $2,000 worth of ETHERUM and $2,500 worth of LITECOIN.
He said he wanted to show me how their trading system works and I must just follow his instructions which I (very naively) did. Needless to say I do not know anything about either of these assets and just followed his instructions.

He then posted a $10,000 "bonus" to my account telling me this is standard procedure from MaxCFD to "welcome" new clients. I told him I do not believe in a free lunch but he insisted that the money should just stay there. I thought nothing of it as never imagined I would want it or ever use it anyway.

The next day the ETHEREUM and LITECOIN positions showed up as "expired positions" on my account. My $500 worth of BITCOIN also showed up as as "expired position". I have tried asking what this means and am waiting for a reply.

I now think I know what this means, because Chris Rose got me to trade with him I am now tied in ?

On 18/10/2017 he posted a bonus of $2,000 on my account. Again without my permission and this time without even telling me.

On 18/10/2017 in the morning when I had some time I started googling about Maxcfd and nearly had a heart attack !!!!! If only I had checked this web-site before !!!

I immediately spoke to Chris Rose and explained that there is no way I would progress further with anything until he had set up my Withdrawal system and showed me that it is working.

His compliance team sent me some forms to fill out so that I could make the withdrawal. He told me not to panic as I am allowed to withdraw the full amount form my account whenever I want and everything will be just fine. The paperwork suddenly starts pointing to the MaxCFD terms and conditions which nobody had pointed out and I nearly passed out when I read them!!!!!
Despite that I wanted my money back so I filled in the forms and sent them back.

I put in a request for $500 on 19/10/2017. It shows a status of "approved". From reading the complaints on this website this probably means nothing.

I also e-mailed Chris Rose that same night and told him I wanted all my $20,000 back.

On 19/10/2017 I immediately put in a request for the $20,000 to be withdrawn also.
I assume I will never get this back but I am going to try everything I can to as I cannot just give them $20,000

The same day Chris Rose gave me another one of his trading lectures. He spoke for about 15 minutes about EUR/JPY and what in his opinion made the price move. He was very insistent on using external software to remotely log onto my PC to demonstrate this. Having done this with work colleagues before I did not entirely scare me but had he not have been so pushy and now a bit aggressive I would not have allowed him. Now I think about it I should never have allowed it !!!! Additionally given I have a bit of a financial background his trading explanation was nothing but a smoke screen! for what I am still not sure ....

On 19/10/2017 I e-mailed him again telling him that I am very sorry but I do not want to trade any of his products or trade with him or trade with MaxCFD and all I want to do is close my account and get my $20,000 back !!!

On 20/10/2017 Chris Rose called me now getting agitated and aggressive on the phone and telling me that it is "too late". I have already traded with him and I cannot get my money back.
He insisted that I must now trade my way out of the $20,000 in order to liquidate my account.
When I went to study the terms and conditions this reads
" to withdraw your bonus you will be asked to perform a trading volume of at least 30 times for each $1 bonus" . In my case 30 times $12,000 = $360,000 !!!! I will never in my lifetime have that amount of money so I will not be doing a single trade with Chris Rose and MaxCFD that is for sure!

When I try to phone MaxCFD I get the following message "We are sorry but we cannot handle your call at the moment. This is a temporary fault and will be fixed shortly.
So basically you cannot call them, you have to wait for them to call you.

When I googled the LTI - the body they are apparently regulated by, it does not exist.

When I google Chris Rose at MaxCFD there is no professional profile for him.

Sadly, this all points to one big SCAM !!! I have no idea if they are even based in London, from reading all the posts about them they are definitely not regulated and Chris Rose could be anybody !!

I have obviously put a lock on MaxCFD trying to get money off my card and left 0 balance on my account with no overdraft limit. This means if they try to take any money form me it will be declined but the card will remain active should they try to put money back onto it.

The sad thing about this story is all I wanted to do is buy $500 of bitcoin as an experiment to learn a bit about it. I have ended up being conned out of $20,000 on some "bonus" system that only transpired after I tried to get my money back. TWO bonuses I did not ask for, did not approve and did not even need or want!

Any advice that you can give me on how to approach them to close my account and get my money back would be most appreciated and welcome.

 

[marilynmadella]

Further to my story with MaxCFD anybody else trying to recover money from them please note that Action Fraud in the U.K have taken my case seriously and have handed it over to the police for further investigation.
I strongly recommend that anybody who thought they were dealing with a legitimate brokerage firm based London when they got scammed by MaxCFD reports them to Action Fraud.

 

[marilynmadella]

Also as far as the Charge Back process is concerned, there are plenty of Legitimate Charge Back companies out there who can help you initiate a Charge Back claim against MaxCFD. The process is long and tiresome so MaxCFD hope that you don't bother pursuing it.
You must contact your bank and tell them MaxCFD is a Binary Options Scam and you have been offered a service they simply cannot provide and you want your money back. New Laws passed in the U.K in October last year now allow for U.K based banks to initiate Charge Backs against Binary Options Firms. Your bank should know exactly what to do. MaxCFD will contest it all the way ...... as for my case it is now in court with VISA who will adjudicate whether or not I have been scammed. I started the process in October last year and hope it will be complete in the next few weeks. Anybody reading this... if you have been scammed by MaxCFD please please initiate a Charge Bank and inform Action Fraud. These criminals need to be shut down sooner rather than later.

 

[marilynmadella]

hi Marilyn
have you managed to get a refund yet ?

My case is currently in court with VISA who will decide. I hope to know soon.

 

[marilynmadella]

hello can i please know more about this who to talk to and any number and information if possible

Call you bank and ask them to initiate a charge back. They will ask for supporting evidence for your case. You can either prepare this yourself or use a company like Mychargeback.com who will prepare a bullet proof case for you to send to your bank. With this case it is hard for your bank not to go ahead and initiate the charge back. MaxCFD will contest it. They you contest what they have contested. After which you end up in court with VISA as the adjudicator.... thats where I am at right now..... the more cases against MaxCFD visa has to rule against the sooner they will no longer allow MaxCFD to use their VISA service and the quicker MaxCFD will be shut down. Good luck !