Lawsuit for financial fraud against GreenWaveX.com

wyayala

Private
Messages
11
Hello,

I'm an intraday / scalper trader and I was working in GreenWaveX for less than a month, from 5th may '22 to 15th may '22. I've made 2 deposits, in total around $6200.

I was trading very actively CFDs indexes applying my discretional scalping strategy. Sometimes I take intraday trades and sometimes scalping ones.

From ~$6.2k as deposit I came to $23.9k, around $17.7k in profits, then I noticed they started lagging my execution, delaying orders and applying big slippages even when the markets were calmed. After noticed this unfair behavior I decided to withdraw all my money from them and this is when the problems came along.

At first, their spanish team told me that it's urgent and that we need to talk because if don't, we can't solve the things related to the withdrawal. I talked with them via mobile phone and they told me that I was doing something called arbitrage but I was that day very busy in my office so told them better send me an email to talk things more clearly.

After than they emailed that I traded 1193 lots with open 10 seconds average and that was arbitrage and for that I've breached their T&C, because arbitrage is something illegal, and they can only give me my initial deposit. I replied that I don't agree with that but that I need to recover at least my initial deposit and then we can discuss about the rest of my money. They agreed and gave me my initial deposit.

After that I told them:
- If you think I'm doing something illegal, please report me to the police or any other authority. After this, they never mentioned this lie, they simply forgot this excuse and never used it against me again.
- I didn't break any rule or term in the contract I accepted when I signed as client in their broker, because my trading is intraday / scalping and even if I was doing arbitrage, they T&C doesn't mention this as any fraud or reason to steal to their clients their money.
- There's any proof that I was doing arbitrage, that kind of strategy requires a lot of speed and automatic tools to execute this kind of trades, so why is Metatrader 4 showing EVERY SINGLE TRADE as manual trade (see below a single sample).
1656603613632.png
- If I were an arbitrageur the only fault is theirs because of their B-Book model that can allow traders fill their trades at nonexistent prices, because everyone know that arbitrage in real markets doesn't work at all. So, their lack of technology and ethic running a B-Book model to their clients, could be the responsible to exploit this kind of bug.
- Me, as client also have a right to the following according to their T&C:
1656603826090.png
I'm in my right to withdraw all my money, not only the deposits, also my profits.

I asked them to stop this unfair behaviur but the only thing they did was to trying to excuse a lot of excuses more... Every of them I simply destroyed it arguing and asking for proofs, but they never provided any solid proof and just provided random data like I was sharing the same machine with other users, something normal because I share working environment in rented offices with other trades like me... And more BS to trying to justify their unethical manners.

After trying to make a friendly deal they never agreed to give me my money so I decided to report them here in Spain for financial fraud:
1656604127592.png1656604133814.png

Also I decided to open a lawsuit against GreenWaveX and Iron Tulip for financial fraud.

I'm still waiting for a reply for my lastests emails. Today any of them give me any answer or provide any solid reason to retain my profits. If I would trading in that way and I would have lost all my capital, I'm sure they wouldn't avoid all my trades and restore my balance to my initial deposits only... They only wants unprofitable traders and will look for any excuse to steal trader's profits.

Stay away from this company.
 

FxMaster

Lt. Colonel
Messages
11,322
Hello,

I'm an intraday / scalper trader and I was working in GreenWaveX for less than a month, from 5th may '22 to 15th may '22. I've made 2 deposits, in total around $6200.

I was trading very actively CFDs indexes applying my discretional scalping strategy. Sometimes I take intraday trades and sometimes scalping ones.

From ~$6.2k as deposit I came to $23.9k, around $17.7k in profits, then I noticed they started lagging my execution, delaying orders and applying big slippages even when the markets were calmed. After noticed this unfair behavior I decided to withdraw all my money from them and this is when the problems came along.

At first, their spanish team told me that it's urgent and that we need to talk because if don't, we can't solve the things related to the withdrawal. I talked with them via mobile phone and they told me that I was doing something called arbitrage but I was that day very busy in my office so told them better send me an email to talk things more clearly.

After than they emailed that I traded 1193 lots with open 10 seconds average and that was arbitrage and for that I've breached their T&C, because arbitrage is something illegal, and they can only give me my initial deposit. I replied that I don't agree with that but that I need to recover at least my initial deposit and then we can discuss about the rest of my money. They agreed and gave me my initial deposit.

After that I told them:
- If you think I'm doing something illegal, please report me to the police or any other authority. After this, they never mentioned this lie, they simply forgot this excuse and never used it against me again.
- I didn't break any rule or term in the contract I accepted when I signed as client in their broker, because my trading is intraday / scalping and even if I was doing arbitrage, they T&C doesn't mention this as any fraud or reason to steal to their clients their money.
- There's any proof that I was doing arbitrage, that kind of strategy requires a lot of speed and automatic tools to execute this kind of trades, so why is Metatrader 4 showing EVERY SINGLE TRADE as manual trade (see below a single sample).
View attachment 78014
- If I were an arbitrageur the only fault is theirs because of their B-Book model that can allow traders fill their trades at nonexistent prices, because everyone know that arbitrage in real markets doesn't work at all. So, their lack of technology and ethic running a B-Book model to their clients, could be the responsible to exploit this kind of bug.
- Me, as client also have a right to the following according to their T&C:
View attachment 78015
I'm in my right to withdraw all my money, not only the deposits, also my profits.

I asked them to stop this unfair behaviur but the only thing they did was to trying to excuse a lot of excuses more... Every of them I simply destroyed it arguing and asking for proofs, but they never provided any solid proof and just provided random data like I was sharing the same machine with other users, something normal because I share working environment in rented offices with other trades like me... And more BS to trying to justify their unethical manners.

After trying to make a friendly deal they never agreed to give me my money so I decided to report them here in Spain for financial fraud:
View attachment 78016View attachment 78017

Also I decided to open a lawsuit against GreenWaveX and Iron Tulip for financial fraud.

I'm still waiting for a reply for my lastests emails. Today any of them give me any answer or provide any solid reason to retain my profits. If I would trading in that way and I would have lost all my capital, I'm sure they wouldn't avoid all my trades and restore my balance to my initial deposits only... They only wants unprofitable traders and will look for any excuse to steal trader's profits.

Stay away from this company.
I can see your review visible here https://www.forexpeacearmy.com/forex-reviews/19994/greenwavex-review

Now, follow this, invite a company by using the invite company option on your thread. And if you are unable to locate the option then follow this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note 1: The invitation button will be enabled when your first post reaches 4 days old.
Note: 2 You need to make a second post in this thread to enable the official invitation option.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out whether you are genuine or not.
Note 4: Make sure to follow the suggestions correctly, when you do it correctly you will get the below message in your thread automatically.

OP Screen shot.jpg
 

wyayala

Private
Messages
11
I can see your review visible here https://www.forexpeacearmy.com/forex-reviews/19994/greenwavex-review

Now, follow this, invite a company by using the invite company option on your thread. And if you are unable to locate the option then follow this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note 1: The invitation button will be enabled when your first post reaches 4 days old.
Note: 2 You need to make a second post in this thread to enable the official invitation option.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out whether you are genuine or not.
Note 4: Make sure to follow the suggestions correctly, when you do it correctly you will get the below message in your thread automatically.

OP Screen shot.jpg
I'll invite them after my post reach 4 days old, thanks!
 

wyayala

Private
Messages
11
I've sent an invitation to the company and I hope they can join here and explain why still not paying my capital.
 

wyayala

Private
Messages
11
Where are they regulated? And can you share their license # and if possible regulatory listing url?
They are regulated by the Financial Services Commission in Mauritius under license GB21026548, under Iron Tulip Limited.

GWX is the trading name of GreenWaveX Limited, a company registered in the Republic of the Marshall Islands, registration number 113035.
 
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