yogesh saini

complaint about neto trade

hi ,
my name is yogesh saini, i worked as an IB with neto trade,
i earned commission around 2500 usd from them but at the time of payment they denied to pay me my commission.
kindly take some action against them.



I trade with this broker since march 2013. profit withdrawal takes alot more time if you do wire transfer so always have it transferred to your credit card.
compared to other brokers I've tried, I find them to have fair communication and some good trading tools/webinars.


Im still a client of Neto trade since one year and I had one broker named Alex Cole and he shrinked my account from40k to 25 k and i was very angry with him and send him a couple of emails . But there was no any respond. Then suddenly some one called me his name Alan Levine and he promised me to bring my account up. and he talks with a big mouth that Alex cole is not that good as him self i just have t give him a permit So i send him a letter that he is aloud to trade for the next 3 weeks and i give him even instruction what to trade and how to look at my margin. But he didn't trade a total in this time and suddenly after 3 weeks he just placed some trades and i send him a letter to stop trading but he placed another 8 trades and then i wrote him a very angry letter with the resold he trade immediately 5 trades with 51 lots and this trades just run for under 2 minutes that was just to revenge me for the letter i send him his ago was dignity was scratched. and he burned my account 12140$. I try to contact the director Steven smith but until to day no respond at all. I still have trades running and i still rty to get some money back.see my letter to neto trade follow

Dear Director Mr Steven Smith
I’m a client since one year and when I started with Neto trade I though this Institute is honest and loyal to the client. Unfortunately the experience I have made with Neto Trade is very negative in way this is even not to describe what the Broker Mr Alex Cole and even more Mr Alan Levine have done to my account. In the first time Mr Cole build up my account till 40k which was a very progress but in the same time he trades increased more and more aggressive without looking to my margin and in the end my margin was -273% which was very tide and dangers for my account. I didn’t agree with his style of trading and send him letter to stop trading my account because i'm not agree what he is doing. And then suddenly i was contacted by Mr. Levine when i still was in Indonesia. And he promised me the same as Mr. Cole that he can do better than him and he will care and will build up my account. I just have to send him a letter of authorization. Which is did but I gave him only one permited only for 3 weeks to show me that he can do better. But during this time he never made any trades and I though ok he don’t want trade my account because I refused to upgrade my account with another 10k. My idea in that time was already to execute all the trades in neto Trade because after one year there was not any profit even my capital was shrinkt. So what does it make sense to stay in neto trade when there is no profit. If i would do the money to the Bank i still would get 5%/year. But then after these 3 weeks suddenly I realized that Mr. Levin just placed another 4 trades in my account and even this was some kind of hedge trades and I deleted immediately 2 of them because of the size of those trades. So I was already angry that Mr. Levine traded my account without my permit and i wrote him to stop trading my account. Because my thought's are already to execute all the running trades and try to get even with all the lost of those trades from Mr Cole. But I still struggled to execute the running trades to empty my account, specially when Mr Levine added another 2 trades which even was in negative way. I even chatted with Shirley in the internet to stop this behavior from M r Levine and she promised me to forward this complain to you but there was even not any respond or reaction from your side. Then he placed again 2 trades even with the resold negative. So i went very angry because he didn't give a dame what the clients asking. So i went absolutely mad and wrote him a very hard letter which even my word running under the belt line because i wane him to understand that he can't do what ever he think, he is not god and do whatever he likes to do with the clients’ money. And this time he took immediately a reaction and take direct revenge and placed on purpose 5 trades in my account with 51 lots in USDHUF which I never traded and he burned my money down by 12140$ in just under two minutes. First of all my account is not that big to handle such big lost. But this didn’t care Mr. Levine he just wane crash my account because of hate and a broken dignity. So if he was that kind of insulted then he could wrote a letter to me to complain or what ever but no he went strait to my account and set this 5 trades with 51 lot's and this was just on purpose to burn down my capital to let me suffer , because right now I'm struggling to get ride of those trade which can cause to crash my account. This is not trading this is just killing my account. And this was the only purpose of Mr. Levine just to burn my account. This kind of behavior is the lowest and dirtiest ever I experience in my trader life. And i trade almost 10 years with some month of resting. I’m sure Mr. Levine is not in line with the constitution of Neto trade just to burn down the account from a client because of a angry letter which was send to him. Broker s always got bad letter from client and they have to live with it. I’m 61 year old and I got already the feeling when I spoke with Mr. Levine on the Phone that he only is a big mouth talker and nothing else. and i got the resold now what kind of Broker he is!!!!! . Neto Trade should really confront him with this bad behavior to trade in such a way which is not trading even not gambling is just killing the account. So you knows that the money of the clients are the surviving of the Institute and the clients money must be protected at all time and can not be destroyed by a Broker because he was insulted!!!!. My trust and my relationship with Neto trade is totally destroyed since last Saturday because of this ugly and dirty behavior of this guy. This was a criminal act and is not to apologize. He just reduced my account from 25.385$ to 13.478$ and my margin went down from 853% to just 180% which right now with all that open trades are in a big risk and my account can be destroyed if the trades are running in the wrong direction because of the small margin but this is what Mr Levine expect.
I’m expecting from Neto trade a total respond to this behavior from Mr. Levine. I’m await that Neto trade compensate the losses of Mr Levine which he causes in my account which almost collapsed. As you understand right now there is not any relationship any more to continue my account with neto Trade and the best and easiest solution is that Neto trade takes full respond to all this and just return my capital of 25k which is brought in my account and then we just ending this relation.
I’m expected you call but so far nothing came from you to discuss what solution Neto trade will do to finished this kind of ugly cause.
Rgd Helmut Steinmetz
see annex letter which was send to Mr Levine for a time limit permitted to trade

On Thursday, 20 March 2014, 18:36, Helmut Steinmetz <> wrote:
I here with permitted that Alan Levine is allowed to trade my account of behave of me for a limited time of 3 week. I will give one other permitting if Mr Alan Levine is caring my account in a safety way. I await that the money management will be followed and i a way that my margin is always on the safe site. there is no figure of a number of money to make profit just make some profit. I not allow to trade in any index because of the time limit and i don't want trades in some Afrikaans south American or middle east currency. All currency from Europa ;us; aud ; nzd ; pound; jpy; swiss franc; cad are ok.
rgd Helmut
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So my question is how is it possible that this company is eliminated from this country how we can sue sue them.
rgd helmut


hi All
as i can see from all comments that who requested money from Neto trade almost took the money but the problem is who deal with brokers they are not good i mean the brokers and always end up to loose all the money or almost loose it that they request more money not to close the deals, am i correct or there is ,more problems with this company since i need to know my self not to deal with them, please if any more have more info reply to me