Porter Finance

mbreitfelder

1st Lieutenant
Messages
622
I have an issue, I have a brokerage account with Porter Finance and I was trading 4/30/16 and my trading winnings were $2.8 million USD. They took that money back due to a "system failure". Their vendor for their trading web site is XXXXX and they would not let any kind of "system failure" occur. I do believe that Porter Finance is lying to me in order not to pay out my winnings. There are several other traders in the USA who have had the same thing happen to them for their trades on that same day for OTC trades. One issue is that they didn't cancel all of the OTC trades for that day, they missed some on my account. I am very upset and Porter Finance has locked my account and won't let me trade. I can't get to anyone above their customer service people. I need to have my $2.8 million USD put back into my account to keep trading. I want to do good with this money and what Porter Finance has done me, as well as others here in the USA, I think, is wrong. Can you provide relief for us as we don't have any experience with England's financial trading laws and what Porter Finance has done to us.
 

Kingcalimma

Recruit
Messages
2
I have an issue, I have a brokerage account with Porter Finance and I was trading 4/30/16 and my trading winnings were $2.8 million USD. They took that money back due to a "system failure". Their vendor for their trading web site is XXXXX and they would not let any kind of "system failure" occur. I do believe that Porter Finance is lying to me in order not to pay out my winnings. There are several other traders in the USA who have had the same thing happen to them for their trades on that same day for OTC trades. One issue is that they didn't cancel all of the OTC trades for that day, they missed some on my account. I am very upset and Porter Finance has locked my account and won't let me trade. I can't get to anyone above their customer service people. I need to have my $2.8 million USD put back into my account to keep trading. I want to do good with this money and what Porter Finance has done me, as well as others here in the USA, I think, is wrong. Can you provide relief for us as we don't have any experience with England's financial trading laws and what Porter Finance has done to us.

Thank you for speaking out about what you experienced. I to had the same thing happen to me but on a much smaller scale. I was trading on porter finance on that same day, March 30 2016 from about 5pm till about 4 am May 1st 2016. During that time span I accumulated $3,496.00. I was proud of myself and took a screen shot of my phone showing my closed payouts. I attempted to contact Porter Finance to resolve this matter and I was sent an email explaining the system failure and was told that there was nothing they can do. I hope more people speak out about their misfortunes about trading with Porter Finance because they do not deserve to be trading with such a great reputation if they are dishonest and can just take your money with no consequences. Porter Finance needs to do the right thing and pay the people back who's winnings they stole. I posted the screen shot showing my payouts before I went to sleep. When I woke up the next morning the money was gone. I also uploaded the email response I received from their customer support. I also uploaded the screen shot after the winnings were removed leaving a 200.00 balance. I hope this information was helpful to someone.
 

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Pharaoh

Colonel
Messages
19,994
Anyone connected to the USA should report this to the NFA, CFTC, and SEC.

PorterFinance.com shows a UK address. Complaints to the FCA and ActionFraud may be worth pursuing.

For any online financial fraud, a report to www.eConsumer.gov is a good idea.

Share any complaints/report ID numbers here so anyone else having the same problem can cross-reference those.
 

Kingcalimma

Recruit
Messages
2
Anyone connected to the USA should report this to the NFA, CFTC, and SEC.

PorterFinance.com shows a UK address. Complaints to the FCA and ActionFraud may be worth pursuing.

For any online financial fraud, a report to www.eConsumer.gov is a good idea.

Share any complaints/report ID numbers here so anyone else having the same problem can cross-reference those.

Thank you that is some great information. I think I will do just that.
 

mbreitfelder

1st Lieutenant
Messages
622
Keep us update about the progress.
I think that Porter Finance uses their "We aren't regulated so that American traders can use our system." to hide behind against any kind of fraud. It might be to our advantage that they are not regulated as we might not have to go through the government red tape to get to them. However, with that being said, I don't think it will hurt one bit at all to contact these government agencies, it may just bring some sunshine to Porter Finance's incredibly fraudulent operations. I think I will be doing the same! A system failure would bring their entire operations to a halt, no trading could occur on their site!! I contacted their vendor who provides their trading platform and their one thing that they pride themselves on is "reliability". You can't have reliability and so many "System Failures". Thank you for bringing your experience to this page too, the more people who speak out, the better!!
 

mbreitfelder

1st Lieutenant
Messages
622
I forgot to attach my trading sheet for that day. This shows all of my winnings for 4/30/2016. All of these USD/JPY OTC trades were canceled and taken from my account. They even took too much out of my account. They advised that my balance now reflects what I started with before trading. I am very unhappy!!
 

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mbreitfelder

1st Lieutenant
Messages
622
I went to ecommerce.com to file a complaint, here is my complaint information:
Complaint Confirmation
Thank you. Your reference # is 70723590.
 
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