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Resolved - capitaloneforex $100 NO-DEPOSIT-BONUS SCAM

Discussion in 'Resolved Issues' started by golekduit, Feb 12, 2014.

  1. golekduit

    golekduit Private

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    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 :

    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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  2. Pharaoh

    Pharaoh Colonel

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    Send Samir Beool a message and ask him to join this thread and explain where the scalping rule is.
     
  3. golekduit

    golekduit Private

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    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
     
  4. LoRio

    LoRio Sergeant

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    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
     
  5. golekduit

    golekduit Private

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    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
     
  6. UncleSteve

    UncleSteve Corporal

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    "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.
     
  7. LoRio

    LoRio Sergeant

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    I lean toward the broker .
    Our friend here tried to churn out lots by opening and closing trades.
    Worth a try right?
     
  8. golekduit

    golekduit Private

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    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
     
  9. LoRio

    LoRio Sergeant

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    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?
     
  10. golekduit

    golekduit Private

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    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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