Plus500 account balance waived

merc129

Private
Messages
22
@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

2nd Lieutenant
Messages
854
Ok so how to start FPA traders court?
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.
 

merc129

Private
Messages
22
@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
 

Attachments

TheAlert1

Recruit
Messages
97
@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
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?
 

oscarra

2nd Lieutenant
Messages
1,052
And as you said CySec has washed their hands (see response).
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 :(
 

merc129

Private
Messages
22
@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.
 

merc129

Private
Messages
22
Hello Mr. Merch 129.

Firstly we are sorry to hear you feel this way.

Kindly know, this matter is fully handled by us in e-mail (#4520129).
In this ongoing e-mail we hope we are able to provide you with sufficient clarifications regarding this matter.

Plus500 aim to provide a high level of costumer service to our clients and we can assure you we are committed to resolving all sort of queries.

Regardless of the mentioned we would like to add that scalping trading strategy as you can read on our user agreements, is prohibited by Plus500.

Any trader suspected of employing such a strategy on our platform will have their trading account immediately terminated and all abusive trading transactions will be made void.

You are welcome to replay to our team in the mentioned email.

Regards.
Plus500
You forgotten one thing - most of trades its take profit
 

4evermaat

2nd Lieutenant
Messages
854
You forgotten one thing - most of trades its take profit
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?
@merc129 can you just re-summarize the total amount of net deposits into the brokerage account and total net withdrawals that you have been paid (you received to your bank account already)?

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.
Assuming that Cy FOS has officially accepted your claim (and issued claim number), it could take 6-12 months.

While I do recommend you follow up every 2-3 weeks on your claim, remember trading OTC products is similar to trading with a local farmers market or swap meet. You must trust the people you are working with. I certainly hope you have ceased trading with plus500 and have considered other (agency model) brokers.
 
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