Resolved - capitaloneforex $100 NO-DEPOSIT-BONUS SCAM

golekduit

Private
Messages
24
I registered for ECN Forex Trading | Forex Bonuses | Forex Deposit Bonuses | Forex Broker on January 9th when they had a "no-deposit bonus" promotion for $100 with leverage 1:20

my account number : 90946
investor password : 6K3k0Rn3
myfxbook link : $100 start System | Myfxbook

I started to request my withdrawal on February, 7th 2014 which was saturday. somebody on livechat support told me I had to wait till monday to get my withdrawal processed

on monday, February, 10th 2014, I tried to contact them asking for my withdrawal and they said it had to be processed within 3 working days, so it should be processed tuesday

on tuesday, February 11th 2014, tried to contact them again asking for my withdrawal and started to chat with Nart Salakhav
he ask me whether I use scalp or not to trade and I answered "Yes"
but hey, who wouldn't?
getting a leverage 1:20 to trade with $100 balance and had to finish 5 standard lots
he told me that I had violated the trading terms by using SCALP

on wednesday, February 12th 2014, tried to contact them again
been refused for 2 times and finally received by Nart Salakhav again and saying the same statement like the day before

here are the trading terms for "no-deposit bonus" promotion :

No Deposit Bonus

Capital One Forex Ltd offers $100 No Deposit Bonus, Open an account today with Capital One Forex and enjoy $100 of Free Account.

· Open an account 'No Deposit Bonus' and send request to (support@capitaloneforex.com) with your account number to get 100$ (within 2 days).

· Get No deposit Bonus 100$. Bonus not withdraw able.

· Leverage for No Deposit Bonus will be to 1:20

· Client has to Close 5 LOT to withdraw generated profits

· Bonus will be available in your account for 60 Days and after this 60 days bonus will be removed from your account balance.

· In case client make deposit before end of the Bonus Validity (60 Days)

o If deposit Profits available in the Balance will not be removed. these profit withdraw able after closing 1lots/$10 (if not abel to trade 5 lots within 60 days) ***

o Profit generated from deposit can be withdraw able immediately.

· In Case Client fail to complete 5 LOTS in two month or didn't make deposit in two month the bonus and profits will be removed from the account.

· If IB holder refer any bonus account then he will get clients closing 1 lot/$1.***

· If we will find out any scam trader then we will Banned this Account. And he will get back only his deposit money.

· Your account need to verify with your legal documents and mobile number.

· Minimum withdraw from bonus account $25.

· No Trade in Gold , Silver or Oil Allowed

· No Trades above the value of 0.05 will be accepted or considered

· If the client does not answer the calls made by the company during the trading in No Deposit Bonus the account will be disabled and no trade will be allowed
could you please tell me..are there any words like SCALP or clients have to close orders for several minutes?

now..my account has been disabled and I can't even open the platform
2014.02.12 14:29:02 '90946': connect failed [Invalid account]

but fortunately, I have saved the detailed report and also connect the account to myfxbook
and i saved the last livechat with Nart Salakhav

I know that I didn't spend even a penny from my wallet, but would you imagine, it's like trading within a month in a demo account which I can't withdraw the profit

if this issue can be resolved by opening this thread and got a response, I would be very grateful

Regards,
Godu
 

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Pharaoh

Colonel
Messages
19,837
Send Samir Beool a message and ask him to join this thread and explain where the scalping rule is.
 

golekduit

Private
Messages
24
Send Samir Beool a message and ask him to join this thread and explain where the scalping rule is.
try to reach Samir Beool through Skype but it seems that my contact hasn't been approved till now
so I sent an email to beool@capitaloneforex.com

had some more chat with customer service yesterday
they told me that I only finish 2.11 lotsize..what a ridiculous statement they make
they sent me the trade report as well and it was only a part of the history which makes the lotsize seems to be only 2.11 lotsize

it is obvious from myfxbook that I had finished 5.91 lotsize
 

LoRio

Sergeant
Messages
479
Even by removing trades 0.05 and above as stated in the terms , you are still on 5.6 lots.
The only thing that registers as possible cancellation reason is your one minute trades with break even or small loss.
You might actually be at 2.11 if you want to play fair.
So , there you go , start trading , you have another 23 days more or less for the bonus to expire , dont just churn the account with instantly closed orders just to pile lots up trade bellow 0.05 and answer your phone when they call.
Baby , you agreed to those terms.

Enjoy your bonus
 

golekduit

Private
Messages
24
Even by removing trades 0.05 and above as stated in the terms , you are still on 5.6 lots.
The only thing that registers as possible cancellation reason is your one minute trades with break even or small loss.
You might actually be at 2.11 if you want to play fair.
So , there you go , start trading , you have another 23 days more or less for the bonus to expire , dont just churn the account with instantly closed orders just to pile lots up trade bellow 0.05 and answer your phone when they call.
Baby , you agreed to those terms.

Enjoy your bonus
1. they have no rule on SCALP and even minimum time of closing orders, if they did, I would have obeyed that rule
2. that 2.11 lotsize volume they sent me were just some of the history (I think it was only february history since the profit was only $17)
3. they have disabled my account
4. they have never contacted me by phone at all since I opened the account
 

UncleSteve

Corporal
Messages
114
"Don't invest in anything you don't understand"

Also means "Don't agree to T&C if you find them hard to read..."

On the other hand, I think FX bonuses come under "There's no such thing as a free lunch"

I don't see enough evidence to say either party here is wrong or right.
 

LoRio

Sergeant
Messages
479
"Don't invest in anything you don't understand"

Also means "Don't agree to T&C if you find them hard to read..."

On the other hand, I think FX bonuses come under "There's no such thing as a free lunch"

I don't see enough evidence to say either party here is wrong or right.
I lean toward the broker .
Our friend here tried to churn out lots by opening and closing trades.
Worth a try right?
 

golekduit

Private
Messages
24
"Don't invest in anything you don't understand"

Also means "Don't agree to T&C if you find them hard to read..."

On the other hand, I think FX bonuses come under "There's no such thing as a free lunch"

I don't see enough evidence to say either party here is wrong or right.
I realize that nothing is free in this world when we say about FX
but trading with a certain volume size before being able to withdraw the profit, is what we have already paid and which is why any brokerage who gives this kind of NO-DEPOSIT bonus type includes this kind of rule in their T&C

WHICH..I always pay attention when I open this kind of type bonus promotion
but the sad thing is that capitaloneforex is breaking their own T&C which they don't pay their clients who has achieved certain volume size

and what I have heard is that capitaloneforex is scamming their clients, no-deposit or the ones who deposit to them
 

LoRio

Sergeant
Messages
479
1. they have no rule on SCALP and even minimum time of closing orders, if they did, I would have obeyed that rule
2. that 2.11 lotsize volume they sent me were just some of the history (I think it was only february history since the profit was only $17)
3. they have disabled my account
4. they have never contacted me by phone at all since I opened the account
Why dont you take a seat over there ?

be the company for a minute.

you offer a bonus .

A trader comes waltzing in churns half the account reaches the lot requirement and requests a withdrawal of $50.
What would you do?

Is what the trader did , trading?
 

golekduit

Private
Messages
24
Why dont you take a seat over there ?

be the company for a minute.

you offer a bonus .

A trader comes waltzing in churns half the account reaches the lot requirement and requests a withdrawal of $50.
What would you do?

Is what the trader did , trading?
If he makes profit out of it,then I would give him what he deserves

Now the violation has changed.not because of scalp anymore
This broker is quite ridiculous
First they said that I haven't completed volume lotsize (myfxbook said I have completed 5.91)
And then they change it to violation of scalp (there are no rules saying anything about scalp)
And now I violated that I have traded 1.2 lotsize in an accout leveraged 1:20
Can you imagine that? 1.2 lotsize in a 1:20 leveraged
Could you please somebody count how much the margin requirement opening 1.2 lotsize?
 
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