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NetoTrade - Resolved*

Discussion in 'Scam Alerts' started by NBCX, Apr 10, 2012.

  1. NBCX

    NBCX Recruit

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    I opened up an account with a guy name Alan. He told me that you can deposit and withdraw money without incurring a fee. I started to make some profits and requested a withdrawal. It took a couple of days, but there was about 15% of my money was missing. They gave me the run-arounds when asked why all that money was missing. The rep starts calling me names and telling me it is my fault (reps name was Dennis Kiro). I show him where Alan (supposedly in finance) told me that I shouldn't incur ANY fees - they finally process the remaining amount.

    I hear that Dennis is eventually fired and that the Accounts Manager is now taking over my account (Danny Brown). I try to withdraw some money, he starts calling me names too, then they send back my money, minus 10%. I inquire about it and he tells me that it is my fault and calls me a "baby" for making a big deal over the money. I inform him of what previously happened with Dennis and he says "oh well."

    They refused to send my remaining balance. About a week later I contacted another rep, Alayna. I told her that I wanted my account closed because of the foolishness I have encountered. She apologizes about Dennis and Danny and states that Alan didn't tell me the truth from the beginning - there's a 3% withdrawal fee. I told her that I was being charged 10% and 15% on my withdrawals - no answer! She asked me to deposit some more money and work with her, she would do right by me. RIGHT!!!!!!! I told her I just wanted to close account - she refused to close it.

    This company scammed me, robbed me, and now refuses to close my account.
     
  2. Romeo

    Romeo Sergeant

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    WAO!:rolleyes: Really strange things happening here. I am really sorry for you to experience such a scenario.

    You opened an account with Alan, but then spoke to a Dennis that was fired, 15% was missing from your account and then Alayna tells you there is a withdrawal fee that you didn't know about, but you are not allowed to close your account!

    It doesn't sound like a forex brokerage, but a soap opera.
    I like their statement in their website "As one of the leading brokerage firms Neto trade global investment ltd, is committed and obligated to protect client interests, and has taken all necessary measures to protect client fund"

    When were they founded? Last week? The whois.com mentions
    Updated Date: 01-jan-2012
    Creation Date: 08-feb-2011
    Expiration Date: 08-feb-2014

    Do you have evidence about all these facts? There must be an evidence, if there was money missing from your account.
    And do you have the communication, where they tell you that you are not allowed to close your account?

    I see that they have an account with a bank in Cyprus, but they are not regulated. Tell them you will inform CySec about it.

    I suggest you file a court case at Forex Scam Resolution and Trader's Money Recovery, where you can submit all the evidence in a private folder for investigation, without having to publish your name in public.
     
  3. Pharaoh

    Pharaoh Colonel

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    Gather the evidence that Romeo has suggested first. You can also ask the FSA if Neto is registered. They show a London address on their Contact Us form. It's a virtual office of some sort.

    They are trying to hide their true location using privacy protection on the domain registration. Tell them about this thread so they can read this message.

    Hi there Neto Fx!

    It's so brave of a broker to use privacy protection while holding client money. Too bad I have a copy of your initial domain registration details. The fact that you changed to a private registration tells me that you don't want A.A.'s full name and contact info posted here.

    I'll make you a deal. Apologize to NBCX and pay him 100% of his money now, and I won't feel the need to post that info. If he still has an issue and posts about it here on or after April 16th, I'll think that showing everyone where your company is based would be a public service.

    Consider this to be an opportunity to clean up your act. Fire all the abusive employees and post exact fees for deposits and withdrawals on your website. Who knows, if you do a good enough job improving your services, I may even open an account with you.

    Have a nice day!
     
  4. lavi

    lavi Banned

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    Hello everyone
    My name is lavi and I'm trading for 3 years on forex and binary options
    Needless to say I only lost in options it really is not easy
    But recently I realized that in forex a large part of my success depends on the broker that I'm trading with it
    I was so far in four different companies including netotrade company that I'm with her now
    Until now, the services I received were only from a trading platform and emails
    And now I get phone calls from experts in trade explain to me exactly what I'm not doingright
    And how to improve my trades
    I can honestly say that this is the first company I was able to make profits and take them back to my bank
    Fairly quickly 48 hours and the money was in my account
    I recommend anyone who wants to get better trading experience to try them
    My expert by the way he is Danny Brown
    Good luck to everyone hope I helped

    Moderation Note: Lavi posted this from the same location that NetoTrade's representative posted from. Lavi also left a 5 star review claiming to be in the UK.

    The FPA does not appreciate forum spammers. The FPA does not appreciate review spammers.
     
    #4 lavi, Apr 11, 2012
    Lasted edited by : Apr 12, 2012
  5. netotrade.com

    netotrade.com NetoTrade Representative

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    First off all I am very surprised that anyone can post a comment without any proof.
    The complain regarding neto trade is not true. The costumer received all his money back within a very short time. The costumer received all his funds without any fee deducted. The costumer wanted to withdraw 20$ profit that he had in his account, by wire transfer to his bank account, ( after he received all the funds he deposited back to his credit card without any fee deducted), the costumer was explained that withdrawing money by wire transfer has a fee as it sais on our withdraw form on our web site, which are bank fees of 20$ , and that’s why you can't withdraw only 20$ by a wire transfer.
    The costumer has received a very good ,professional, and fair service ,and I recommend him to go heed and check other complaints regarding other companies to see what a real scam is.
     
  6. Pharaoh

    Pharaoh Colonel

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    Funny, the customer mentions large fees being deducted on the initial withdrawal and then having to endure abuse. The customer also mentions getting conflicting stories from NetoTrade about the withdrawal fees.

    This is very different from what Lavi, UK claims to have experience. Why am I suspicious that Lavi is really posting from the same country as A.A. registered NetoTrade.com from?
     
  7. Romeo

    Romeo Sergeant

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    Dear Lavi, welcome to the FPA!

    I have to tell you from now, that we have seen a lot of strange things here at FPA and the facts we have seen, made us suspicious in general about new Forex Brokers and members.
    You are three years in Forex, so you have seen some things yourself.

    As Pharaoh said, he is suspicious about who you are and if what you are saying is the truth.

    Let me give you the facts and maybe you will agree with me:

    1. For us netotrade is a UFO (Unknown Forex Object)
    2. There were no reviews on this brokerage yet
    3. They are unregulated
    4. We have a member complaining that he had been scammed
    5. They have a domain that is privately registered

    And now coming to add some facts that you created

    6. You are Mr. Happy Client that has been in Forex for 3 years, but joined the Forum last week to post a positive feedback on them. Where have you been? And why was your first comment the specific one?
    7. A few hours later a Rep. of netotrade joins and posts a comment about the person who is complaining about them.

    How do all these facts sound to you?

    For us they sound like bells ringing!!!!

    Of course you can "fix" things in a way. Are you willing to support them? There is a way to prove that what you are saying is truth. Then I will announce that you are real and you are saying the truth and netotrade will gain a positive image right away!

    Looking forward for your answer.
     
  8. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    Lavi has been banned as a spammer. Everyone at the FPA is very disappointed that this is how an employee of NetoTrade decided to introduce the company in the FPA's forums.
     
  9. forexia

    forexia Private

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    Big No No

    The funny thing here is that netotrade.com tried to hard to hide where they operating from, and made one (or two) mistakes and post it from the real offices.

    I guess that if I will try to visit their "offices" in UK I will found it empty- and with bit luck maybe I'll find someone that came to take physical mail.

    if someone want to trade in the original website he just need to put .co.il instead .com
     
  10. Pharaoh

    Pharaoh Colonel

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    Instead of an apology for poor service to NBCX, I see a spam account run out of NetoTrade's offices and a challenge to whether or not I should be able to make a post to stand up for an abused trader. I was going to be nice and give you until Monday to fix this. In light of NetoTrade's actions here, I'm not going to wait.

    NetoTrade's current Whois data:

    Whois Privacy Protection Service, Inc.
    Whois Agent (nvmvkxsj@whoisprivacyprotect.com)
    +1.4252740657
    Fax: +1.4259744730
    PMB 368, 14150 NE 20th St - F1
    C/O netotrade.com
    Bellevue, WA 98007
    US

    NetoTrade's earlier Whois registration data:

    Trade 246 LTD Trade 246 LTD ()
    Adir Aharony Adir Aharony (I'll be kind enough not to include his email address)
    +972.54936622
    Fax:
    Shoham 5
    Ramat Gan, 52521
    IL

    Whois information for NetoTrade.co.il shows it also belongs to Adir Aharony of Trade246 LTD.

    NetoTrade's location info on their .com website:

    788 Finchley Road, London NW11 7TJ

    This appears to be a virtual office. IkkoTrader and 60options share the address. So do a large number of non-trading companies, including Incorporations International - sounds like a company that sets up companies.

    NBCX, I recommend you ask the FSA and FOS if NetoTrade is licensed to have an office in the UK.


    NetoTrade's location info on a page from the NetoTrade.co.il website:

    טרייד 246 בע"מ
    מגדלי פז, קומה 11, רח' שהם 5, ר"ג.
    03-5751941 :פקס 03-5751940 :'ט

    Translates to:

    246 Trade Ltd.
    Paz Tower, 11th Floor, St. are five, Ramat Gan.
    03-5751941 Fax: 03-5751940: Jet
     
    #10 Pharaoh, Apr 12, 2012
    Last edited: Apr 12, 2012

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