PWR Trade - Can anyone help me

shirl01

Recruit
Messages
2
My story: I was retrenched at the end of May and had R 180 000 saved (Literally 10 years of savings!). I did a little research on short term investments and PWR Trade came up. While they had a few bad reviews, most were good ...and the investment was only $250 so I went for it. I was hoping to buy a few USD with a broker looking after me and earn a bit while being unemployed - ZAR vs USD a sure thing. Shortly after I had paid the $250, I received a call from a "dedicated" account manager, Julian. After the congratulations, he advised I could only trade if I invested a further $3000, which I duly did. (I had set aside a R 50 000 budget) He reassured me that would be it. I explained my situation as being unemployed and that this was all the money I had. He reassured me and sent back $500. I am very naive when it comes to stocks etc and did not know I was trading on a "JSE" type market.. At no time was I advised it was a risky trade environment and not for unemployed people with no money.

He then called advising we had a few wins (...and a lot of losses) He had invested too and that if I invested $10 000 he would also invest the equivalent on his side so we could make the minimum quota and get the money back. I was in tears, I refused to hand any more money over however he repeatedly reassured me that I would get it back on the 31.07.2017. I explained that I only had that money and no other money. I was unemployed, had bills to pay and was taking care of my father who has cancer. He insisted, I would be able to withdraw it again on the 31.07.2017 ....so sent the money over. I asked for the confirmation on the withdrawal in writing. What I received was ""according to our policy you can withdraw your profits after our trading sessions"

To cut a long story short, when I tried to get the money back, all I got was that he had another sure thing and he had also invested money, which had not come to fruition (was done in the form of a "bonus") I was then desperate...... I had lost all my savings!

In an absolute state, with no sleep and feeling ill to the point of continually vomiting, I desperately tried to recover at least "something" I handed over $1000, $1000 and $2000 to get the money back, even withdrawing from my credit card.

Today Apple went well and $12750 was made. When I tried to withdraw it, I was told he had spend $17 000 on his side and we had to go over $17 000 for me to get paid. He reinvested the $12750 an lost the lot.

I have been a manager/general manager for the last 14 years plus and do not consider myself a fool, I have lost a total of $16437 - all my savings and money in my credit card, I was manipulated and coerced through my current situation of desperation to a point where there is no return. In fact he even tried to get me to take a loan today to recoup the losses!

Is there anyway to 1. Get my money back - this is taking advantage of vulnerable people who do not know about the trading industry. 2. Preventing this from happening to anyone else in a vulnerable position.
 

FxMaster

Lt. Colonel
Messages
9,526
My story: I was retrenched at the end of May and had R 180 000 saved (Literally 10 years of savings!). I did a little research on short term investments and PWR Trade came up. While they had a few bad reviews, most were good ...and the investment was only $250 so I went for it. I was hoping to buy a few USD with a broker looking after me and earn a bit while being unemployed - ZAR vs USD a sure thing. Shortly after I had paid the $250, I received a call from a "dedicated" account manager, Julian. After the congratulations, he advised I could only trade if I invested a further $3000, which I duly did. (I had set aside a R 50 000 budget) He reassured me that would be it. I explained my situation as being unemployed and that this was all the money I had. He reassured me and sent back $500. I am very naive when it comes to stocks etc and did not know I was trading on a "JSE" type market.. At no time was I advised it was a risky trade environment and not for unemployed people with no money.

He then called advising we had a few wins (...and a lot of losses) He had invested too and that if I invested $10 000 he would also invest the equivalent on his side so we could make the minimum quota and get the money back. I was in tears, I refused to hand any more money over however he repeatedly reassured me that I would get it back on the 31.07.2017. I explained that I only had that money and no other money. I was unemployed, had bills to pay and was taking care of my father who has cancer. He insisted, I would be able to withdraw it again on the 31.07.2017 ....so sent the money over. I asked for the confirmation on the withdrawal in writing. What I received was ""according to our policy you can withdraw your profits after our trading sessions"

To cut a long story short, when I tried to get the money back, all I got was that he had another sure thing and he had also invested money, which had not come to fruition (was done in the form of a "bonus") I was then desperate...... I had lost all my savings!

In an absolute state, with no sleep and feeling ill to the point of continually vomiting, I desperately tried to recover at least "something" I handed over $1000, $1000 and $2000 to get the money back, even withdrawing from my credit card.

Today Apple went well and $12750 was made. When I tried to withdraw it, I was told he had spend $17 000 on his side and we had to go over $17 000 for me to get paid. He reinvested the $12750 an lost the lot.

I have been a manager/general manager for the last 14 years plus and do not consider myself a fool, I have lost a total of $16437 - all my savings and money in my credit card, I was manipulated and coerced through my current situation of desperation to a point where there is no return. In fact he even tried to get me to take a loan today to recoup the losses!

Is there anyway to 1. Get my money back - this is taking advantage of vulnerable people who do not know about the trading industry. 2. Preventing this from happening to anyone else in a vulnerable position.
Read this thread http://www.forexpeacearmy.com/community/threads/forex-and-binary-options-legal-services.50839/and contact them. They will help you in this case.
 

shirl01

Recruit
Messages
2
Ok so they admitted fraud. Sent me a settlement document for USD 12 000. They then returned USD 2000 via bsafe and I am still waiting on the USD 10000 via dinpay. Apparently because it was fraud it needs to be returned the same was it was paid. The bsafe payment was through in a matter of days. Both payments were done on the 16.08 and yet I am still waiting for the payment via dinpay? Can anyone tell me how long a dinpay refund takes?
 

Prava

Recruit
Messages
12
My story: I was retrenched at the end of May and had R 180 000 saved (Literally 10 years of savings!). I did a little research on short term investments and PWR Trade came up. While they had a few bad reviews, most were good ...and the investment was only $250 so I went for it. I was hoping to buy a few USD with a broker looking after me and earn a bit while being unemployed - ZAR vs USD a sure thing. Shortly after I had paid the $250, I received a call from a "dedicated" account manager, Julian. After the congratulations, he advised I could only trade if I invested a further $3000, which I duly did. (I had set aside a R 50 000 budget) He reassured me that would be it. I explained my situation as being unemployed and that this was all the money I had. He reassured me and sent back $500. I am very naive when it comes to stocks etc and did not know I was trading on a "JSE" type market.. At no time was I advised it was a risky trade environment and not for unemployed people with no money.

He then called advising we had a few wins (...and a lot of losses) He had invested too and that if I invested $10 000 he would also invest the equivalent on his side so we could make the minimum quota and get the money back. I was in tears, I refused to hand any more money over however he repeatedly reassured me that I would get it back on the 31.07.2017. I explained that I only had that money and no other money. I was unemployed, had bills to pay and was taking care of my father who has cancer. He insisted, I would be able to withdraw it again on the 31.07.2017 ....so sent the money over. I asked for the confirmation on the withdrawal in writing. What I received was ""according to our policy you can withdraw your profits after our trading sessions"

To cut a long story short, when I tried to get the money back, all I got was that he had another sure thing and he had also invested money, which had not come to fruition (was done in the form of a "bonus") I was then desperate...... I had lost all my savings!

In an absolute state, with no sleep and feeling ill to the point of continually vomiting, I desperately tried to recover at least "something" I handed over $1000, $1000 and $2000 to get the money back, even withdrawing from my credit card.

Today Apple went well and $12750 was made. When I tried to withdraw it, I was told he had spend $17 000 on his side and we had to go over $17 000 for me to get paid. He reinvested the $12750 an lost the lot.

I have been a manager/general manager for the last 14 years plus and do not consider myself a fool, I have lost a total of $16437 - all my savings and money in my credit card, I was manipulated and coerced through my current situation of desperation to a point where there is no return. In fact he even tried to get me to take a loan today to recoup the losses!

Is there anyway to 1. Get my money back - this is taking advantage of vulnerable people who do not know about the trading industry. 2. Preventing this from happening to anyone else in a vulnerable position.

Hi Shirl01, I can relate to you, as I went through the same experiences. If it is of any consolation, I got a response from PWRTrade today, asking me to apply for withdrawal of my funds. I would suggest that you keep writing to them through their web chat and e-mail. Also, invite them to this thread to defend themselves. I certainly hope that they will respond. My contact there was Nathalia.
ATB. Prava
 

paul08

Private
Messages
16
I found the name Philip Schmidt in some pages in connection with PWRTRADE the scheme here seems very familiar to me, I have a YouTube video with his voice, he uses the same name only with another (also criminal broker KAYA FX) it would be interesting for me if it is the same person, he can change the broker but not his voice. on my channel is another one in English
 
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