Resolved - Bitcoin Deposit Roboforex

FX Master

Hello All,

I am not yet sure what will be the outcome of my case with Roboforex however I wanted to share it here to make people aware of the situation.

As you might know, Roboforex allow customers to deposit USD/EUR via Bitcoin. They have a Payment processor for that.

You log into your account, select deposit method as BTC then you specify the amount in USD or EUR you want to deposit.

Then you will be redirected to their payment processor which will display the BTC address where you need to transfer your coins, the amount you need to transfer and the timeframe in which you need to initiate the transaction which is 15 min.

Once they detect the transaction to that given address, they display a message that now they need to wait for confirmation of the transaction (from blockchain) before the money is deposited to your account.

All look really simple and convenient, however there is a catch.

I have some Bitcoins from mining activities so I wanted to use that to check how that deposit option works.

I selected BTC as deposit method and specified 100 EUR to deposit with Tradable Bonus.

At this stage, there was an alert saying that Trading Deposit is available from 300 EUR deposit.

So I have changed the amount of my deposit from 100 EUR to 300 EUR and went to next step.

I was asked to transfer 0.2960801 BTC to the address 1Lk8ZbUaFKYHNi5KwiakumPv2jFW35nic8

I have completed the transaction and they have automatically detected it and screen changed it to a message informing me that confirmation can take up to 30 min. That is normal. Sometime can take even longer.

At this stage, under my Roboforex account the status of my deposit was pending as they are waiting for the payment processor to confirm the transaction (I guess).

However, Bitcoin transaction was really slow yesterday.

Initiated time: 2017-01-04 09:23:18
Confirmed time: 2017-01-04 14:20:42 (+ 297 minutes)

As you can see, it took almost 5 hours the transaction to be confirmed by Blockchain.

The issue start here. During that time, Payment processor or Roboforex cancelled my deposit. My deposit status is cancelled and even if the BTC transaction have currently more than 170 confirmation, the money does not deposited into my account and BTC was also not returned to my BTC account.

I contacted Roboforex because there is no contact details from their payment processor, however until now the only message I got from them that they have contacted their processor but nothing else since.

So I am not sure if they have just took my BTC/Money but I wonder what can I in this situation?

They created that payment method without any control from customer part so they should support this issue. Unfortunately I think this will not be the case.

they must give you your money back since it's confirmed by blockchain, also please use a micropayment when sending the bitcoins, to have the process completed faster.
Quick update, after few days of chasing them, finally they have credited my deposit. That was the first and last time I have used BTC for deposit.
I think you could find a better broker to use for bitcoin. FxOpen actually has cryptocurrency options.

Or convert the bitcoin first in to fiat and then wire it to a prime of prime.
Glad to hear it's resolved. Let's hope RF finds a better way to handle BTC deposits or else gives up on them.