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Plus500 account balance waived

Discussion in 'Scam Alerts' started by merc129, Jul 17, 2019.

  1. merc129

    merc129 Private

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    Ok so how to start FPA traders court?
     
    GigiFX likes this.
  2. merc129

    merc129 Private

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    @TheAlert1,

    What a difgerence, broker is responsible 4 clients money and should keep it safe. It does not matter if client cashed in 5.000$ withdraw 25,000$ and than broker waived 15.000$ sayimg that you're in surplus anyway. THIS IS AGAINST THE ODDS
     
    4evermaat likes this.
  3. 4evermaat

    4evermaat 2nd Lieutenant

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    You are technically already participating in the process. Familiarize yourself with this stickie:
    https://www.forexpeacearmy.com/community/threads/new-traders-court.58022/

    Usually 3-4 confirmed scam cases without adequate broker response would result in court case convened by the FPA moderator for the company.

    In your case, you should still simultaneouly prepare the CySec/FoS application.

    ---------

    Ok did Plus500 process the withdrawal of the funds/profit that was allowed? (14-16,000 eur or usd, correct?) They cancelled most of the profit, but allowed some of it to stay. So i was wondering if you requested that amount.

    And if it was actually paid out.
     
  4. merc129

    merc129 Private

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    @4evermaat ,

    I guess you lost or misunderstood or might be I have not explained it properly so again:
    1) I've deposited in 2018 10.000 PLN which is 3.000 EUR and that was a base equity. I've set up a rule for myself not to keep more than 7.000 EUR on the account, so enytime it went over or around 7.000 I was withdrawing monies.
    2) Second rule - monthly stop loss and quit trading when account equity falls below 2.000 EUR - once it happens I was depositing to have back to 3.000 EUR
    3) In the whole 2018 I withdraw about 20.000 EUR, as I wanted before the 31.12.2018 to have this account empty (see enclosed statement for 2018)
    4) In 2019 I've increased base equity up to 5.000 EUR still keeping max balance rule at 7.000 EUR
    5) Till 3rd of July I withdraw 47.000 EUR (last withdrawal on 3rd July 1,500 EUR, see enclosed report)
    6) When I passed a withdrawal order on the 5th of July (10.000 EUR) it was cancelled and later on 14th July the whole balance was waived (see enclosedfile plus500 fraud).

    So for the whole 1,5 year Company was accepting what I'm doing, awarding me with a bonuses, upgreded my account to gold status and than just taken my monies without any warning.
    But due to their assesment everything is OK.
    And as you said CySec has washed their hands (see response).

    So I think my funds are lost, however I wont give up - public must now what is real purpose and business model of plus500
     

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  5. TheAlert1

    TheAlert1 Recruit

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    Merc129, What are you saying is the bottom line? The bread & butter of this fraudulent industry is deposits.
    How much have you deposited and how much have you withdrawn?
     
  6. oscarra

    oscarra 2nd Lieutenant

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    not really, maybe the company will end up paying a fine, in fact you complaint to CySec, next step would be Cy Ombudsman, anybody checked if finally they apply ADR Directive

    all lazy guys :(
     
  7. merc129

    merc129 Private

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    @4evermaat , @oscarra

    Could you pls advise as per yr experience a time perspective FOS response will come. I have supported more evidence to FOS - 2018 short term trades had more lose than a profits -thats why these guys left me along. Same in the 1st quarter 2019 - as I'm closing wrong trades pretty soon and keeping profitable trades longer.
     
  8. merc129

    merc129 Private

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    You forgotten one thing - most of trades its take profit
     

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