Netrotrade managed accounts Scam!

Gary7

Recruit
Messages
7
lost almost 40K in a few months with this company.
I started with a small account $1000.00 on 8/28/2014. I received a call from Allen Levine wanting to trade my account. Allen guaranteed me $2,000.00 the next business day if I made another deposit, I made the deposit and the following Monday the money was there. Allen made 2 more trades similar to this and there was no draw down on my account. Allen assured me that all of his trades were made in this way. I made the initial minimum investment and then gave Netro Trade permission to trade my account. A few weeks went by with out any problems, Then Allen calls needing more money, I told him to close some loosing trades but he did not want to do this, again he guaranteed me another 2K + 5 k in bonus in my account if made a 10K deposit. I made the deposit and the money was there and my account, I made it a point to tell him to slow down, I did not need to get rich, as I was close to a margin call several times, but he didn't. the last and final call was in October, Allen wanted more money, I was out of credit cards as they were charge to the max. Allen was persistent, saying that if I made another deposit he guaranteed me that my account would be ok. My wife had gotten a new card with a 5 k limit, I gave it to Allen, the 5 k would not go thru, Allen made 3 $1000.00 dollar with draws on this card before the credit card co stopped it. I went home, checked the account and it was in 100% draw down, $190,000.00 the only thing keeping it from busting was the bonus money from Netro Trade, this was October 22, 20014. Emails from Allen keep coming for more money, but I didn't have any. all of my trades were hedged to keep my account from busting. a few months went by, Netro Trade gave my account to a new manager with 3 years experience, Eddie Cooper. Eddie requested 20k to save my account, I told him I was broke. at one point Eddie became so up set with me and said that if I did not care about my account, that he would "just let bust" and of course it did.
I did Google Netro Trade prior to opening this account and it had a good rating, I did not try managed accounts.
hopefully anyone considering these people will see this and stay away.

Gary
 
Never ever allow any brokerage employee in forex or binary options place trades for you or recommend trades for you.
 
lost almost 40K in a few months with this company.
I started with a small account $1000.00 on 8/28/2014. I received a call from Allen Levine wanting to trade my account. Allen guaranteed me $2,000.00 the next business day if I made another deposit, I made the deposit and the following Monday the money was there. Allen made 2 more trades similar to this and there was no draw down on my account. Allen assured me that all of his trades were made in this way. I made the initial minimum investment and then gave Netro Trade permission to trade my account. A few weeks went by with out any problems, Then Allen calls needing more money, I told him to close some loosing trades but he did not want to do this, again he guaranteed me another 2K + 5 k in bonus in my account if made a 10K deposit. I made the deposit and the money was there and my account, I made it a point to tell him to slow down, I did not need to get rich, as I was close to a margin call several times, but he didn't. the last and final call was in October, Allen wanted more money, I was out of credit cards as they were charge to the max. Allen was persistent, saying that if I made another deposit he guaranteed me that my account would be ok. My wife had gotten a new card with a 5 k limit, I gave it to Allen, the 5 k would not go thru, Allen made 3 $1000.00 dollar with draws on this card before the credit card co stopped it. I went home, checked the account and it was in 100% draw down, $190,000.00 the only thing keeping it from busting was the bonus money from Netro Trade, this was October 22, 20014. Emails from Allen keep coming for more money, but I didn't have any. all of my trades were hedged to keep my account from busting. a few months went by, Netro Trade gave my account to a new manager with 3 years experience, Eddie Cooper. Eddie requested 20k to save my account, I told him I was broke. at one point Eddie became so up set with me and said that if I did not care about my account, that he would "just let bust" and of course it did.
I did Google Netro Trade prior to opening this account and it had a good rating, I did not try managed accounts.
hopefully anyone considering these people will see this and stay away.

Gary

You'll have to sue them, man. Find a lawyer that will take your case on contingency basis...
 
Thanks for your support, I have filed a case with this forum, still need to find a lawer
 
I'm finally over the shock of loosing this much money, I still cannot believe I was so gullible to let some sting me like this, as I look back, this was a con pure and simple and I should have known better when something looks to good to be true, it usually is. I have all of the records and emails. if anyone knows of a lawyer or where to find one I would appreciate if you would let me know as I plan to file suite.
In my hast to write the complaint I made several errors, one is I spelled the company name incorrectly, it should be Netotrade ,
I know I will never get any of the money back but hopefully I can get the satisfaction of knowing that they are out of business and cannot do this again.
 
@Gary7....I presume you are referring to this broker:


Website: NetoTrade - Online Forex Trading
Year since: 2010
Headquarters: Cyprus
Company registration: NetoTrade Global Investments Ltd, Cyprus
Regulation: not regulated

Well, at least you have reconcile and accepted that the chances of getting back your money is next to nil.
There is money to be made from trading the forex market, but don't trust your money with anyone claiming to be some hotshot trader. Take your time and learn to trade for yourself.

Needless to say, when you ready, go with a regulated broker. But then, even supposedly well regulated brokers can become rouge brokers (read/see mine and other cases & issuea with one ASIC regulated broker ICMarkets whom, once-upon-a-time I thought was a good broker but eventually turned to the dark side and start having some very strange & unusual manipulation on their client's trading platform).

I read reviews on another site (100Forexbrokers) where 9 out of 10 reviews on Netotrade were absolutely not good. You should go to as many forums as you can find over the internet and post your very bad experiences with this scam broker.
 
Yesssss,never let play with your money,if some one will play is YOU.

PUT STOP LOSS AND THEE SIZE OF DEALS.

YYYEEES IT GAMBLLLE GAME
 
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