bossboss25
Recruit
- Messages
- 5
Original FPA Traders Court Submission:
I am submitting the case against: www.butapips.com
My Case is: Hi All,
I am writing to let everyone know of my recent experience with www.butapips.com
Butapips claim on their website result approx. 1000 pips per month (with various "money back" guarantees if they don't achieve this). Showing "live" results on their site.
On the 3rd August I signed up for their "Trade Copier - GOLD Package" at $1599USD per month. They immediately emailed me with a "more profitable" option..."Buta investment". I asked why use this instead of trade copier and their response was "we would recommend you to use Buta Investment as it is less risky and as Butapips team we would manage it as professionals."
They wrote that this service only costs $399 but has a 25% profit sharing per month. I agreed and gave them my username and password for my trading account. At this point they offered to refund the $1200 difference between the $399 and what I had paid ($1599) or they said they could take it out of the profit sharing at the end of the month. I opted for them to take it out of the profit sharing...which was a mistake.
They traded my account for a month and lost 15% of my account while reporting HUNDREDS of pips profit on their website. When I questioned them about this they told me
"Don't worry about your deposit.You will see much profit in your account soon. Please be patient." so I was patient for a month. Unfortunately when I opened my MT4 twice some trades where put on my account for a short time from an old EA I still had active. They asked me to not trade the account or they would stop...I agreed that this was fair and closed the trades immediately.
At the end of the month I changed my password and was a few thousand dollars poorer in my trading account for the experience (nothing disastrous just 15% all told). They offered to trade my account in September for free for which I thanked them, and declined, and said that I'll just take my refund. I have not been able to get a response from them since. I have sent 6 emails in the past 2 weeks to ask about my $1200 but they are ignoring me and I can only presume they have decided to STEAL my money.
Well, that's it, as factual as I can be without injecting all the emotion that I feel into a rambling tirade of abuse aimed at them. So instead I offer this warning and just perhaps they've "forgotten" to give me my money and my emails have been lost in their SPAM folder....perhaps.
Josh
New thread in the Scam Alerts Folder:
Review is submitted by Joshua on 09/17/12
The company was first contacted about the issue on 09/03/12 the last contact was on 09/17/12
Details: Nothing since the request for my refund.
Company representatives' emails: butpips <customer@butapips.com>
butpips <info@butapips.com>
I am submitting the case against: www.butapips.com
My Case is: Hi All,
I am writing to let everyone know of my recent experience with www.butapips.com
Butapips claim on their website result approx. 1000 pips per month (with various "money back" guarantees if they don't achieve this). Showing "live" results on their site.
On the 3rd August I signed up for their "Trade Copier - GOLD Package" at $1599USD per month. They immediately emailed me with a "more profitable" option..."Buta investment". I asked why use this instead of trade copier and their response was "we would recommend you to use Buta Investment as it is less risky and as Butapips team we would manage it as professionals."
They wrote that this service only costs $399 but has a 25% profit sharing per month. I agreed and gave them my username and password for my trading account. At this point they offered to refund the $1200 difference between the $399 and what I had paid ($1599) or they said they could take it out of the profit sharing at the end of the month. I opted for them to take it out of the profit sharing...which was a mistake.
They traded my account for a month and lost 15% of my account while reporting HUNDREDS of pips profit on their website. When I questioned them about this they told me
"Don't worry about your deposit.You will see much profit in your account soon. Please be patient." so I was patient for a month. Unfortunately when I opened my MT4 twice some trades where put on my account for a short time from an old EA I still had active. They asked me to not trade the account or they would stop...I agreed that this was fair and closed the trades immediately.
At the end of the month I changed my password and was a few thousand dollars poorer in my trading account for the experience (nothing disastrous just 15% all told). They offered to trade my account in September for free for which I thanked them, and declined, and said that I'll just take my refund. I have not been able to get a response from them since. I have sent 6 emails in the past 2 weeks to ask about my $1200 but they are ignoring me and I can only presume they have decided to STEAL my money.
Well, that's it, as factual as I can be without injecting all the emotion that I feel into a rambling tirade of abuse aimed at them. So instead I offer this warning and just perhaps they've "forgotten" to give me my money and my emails have been lost in their SPAM folder....perhaps.
Josh
New thread in the Scam Alerts Folder:
Review is submitted by Joshua on 09/17/12
The company was first contacted about the issue on 09/03/12 the last contact was on 09/17/12
Details: Nothing since the request for my refund.
Company representatives' emails: butpips <customer@butapips.com>
butpips <info@butapips.com>
Last edited by a moderator:
