RESOLVED Case# 2015-060 | depst vs.

Based on the available evidence, do you believe that is guilty?

  • Guilty

    Votes: 47 79.7%
  • Not Guilty

    Votes: 12 20.3%

  • Total voters
  • Poll closed .


Original FPA Traders Court Submission:

I am submitting the case against:

My Case is: I opened an account with Citrades with $500. I was going to start with the minimum of $300 but they said i could get a bonus of $250 if i opened with $500. I traded for about 2 days and decided i did not like binary options at all. My balance was about $741 so i asked to withdraw my balance minus the deposit they gave me.

They said that since i used my bonus i could not withdraw any funds until i had traded 30 x my account balance. I did not know about this and was not told about these rules. They say i should have read the terms and conditions more carefully.

I called the account manager they gave me John Goldberg and he suggested that i should invest another $5k and he would give me an insured option that would result in me getting my funds back. Of course i did not take this option due to lack of trust.

I do not wish to trade with this company so it looks like i will never be able to withdraw my funds. I cannot believe that their terms and conditions are not regulated by anyone and they can make up their own rules. They prey on people who are new to the industry and who do not read the terms and conditions carefully. I feel that they should have the responsibility to make people aware of these hidden terms and conditions.

Is there any way i can get my funds back from this bunch of crooks? I also would like to warn others against trading with this company and advise not to make any deposits with them.

New thread in the Scam Alerts Folder:

Review is submitted by David Epstein on 04/21/15

The company was first contacted about the issue on 04/13/15 the last contact was on 04/21/15

Details: Called the company by phone many times. They said they were in business to make money and that i should have read the terms and conditions more carefully. They will not return my money

Company representatives' emails: John Goldberg<>



  • citrades screenshot.pdf
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Hi David,

Can you please add a few more details to your thread in Scam Alerts. Once you've done that, email John and invite him to that thread.

Post here when you've finished.
I see you've updated your thread in Scam Alerts.

I've just sent a formal invitation to Citrades.
Such a problematic company.

Looking forward to the 3rd round that will finally label them as FPA scam ranked
They are short in funds, and use this way to keep clients funds to run their business. is guilty in customer service. They don't have rights to hold people's money using this ugly way.
unfortunately because this broker is unregulated,they can basically say what they like and get away with it.however if they are correct that because you took said bonus that you have to complete a turnover before withdrawing unfortunately thats it.its legal and above board.if for instance they were regulated by CYSEC,then they would be in direct contravention of CYSEC mandate regarding clients money.unfortunate i know but i cannot in all honesty vote guilty here.
I've just read their 'terms and conditions', sections PAYMENT PROCEDURE and BONUS. I consider these rules to be nothing more than a fraud to fleece company customers. Thus if certain people got bonus money and agreed with these rules, that only means they haven't read rules at all. I would say that it's a clear scam, but I cannot vote guilty here.
By law, regulated broker must release client money anytime when the client request withdrawal
Dont know if this broker is regulated
Even regulated broker can delete profit (like or hold your withdraw unlimited period of time without explanation
It is adviced to start with small amount and withdraw everytime you profit
Do not leave too much money in one broker
They are not trustable even they are regulated, regulator does not means you are protected
Bonus money and money you deposit are 2 different things.
You should be able to withdraw your money and let them expect x30 or x500 turnover on the bonus.

Regulated or unregulated, if the broker's Terms and Conditions say otherwise, its a scam!

Wish you get your money back but if not we can prevent others losing theirs.