RESOLVED CiTrades Scam
- Thread starter depst
- Start date
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- citrades.com
Robert Ross
Recruit
- Messages
- 8
Please open your case with SEC, CFTC and FBI, also econsumer.gov... they have to return your funds...
RahmanSL
Major
- Messages
- 2,938
I really don't know what (if any) homework you did before going with this binary broker because, a very quick google search reveals very disturbing reviews on them by Binary CompariZone which bluntly states:
1. Withdrawal processing time is always delayed
2. Lots of user complaints
3. Broker not regulated by any financial authority
4. Support service is very poor
Based on all the facts presented, it seems that trading with Citrades entails high risks. Finding a more reliable broker is highly advised.
Trust Rating: Poor
User Rating: Poor
Editor's Conclusion: Citrades may have upgraded its platform to Spot 2.0 which is considered to be an advantage but this broker scares off traders with their high minimum deposit requirement and unsatisfactory number of tradable assets. Citrades is definitely not a good choice so better find a different broker.
So the question is, what makes you to go with this very obvious untrustworthy broker in the first place?
I believe you already know your chances of recovering your money is very, very slim and the best thing you can do now is to post your bad experiences at as many forums as possible to warn other would-be victims....BUT then those would-be victims should also check out the broker before rushing in to hand over their hard earned money.
This is indeed the cruel hard facts of life in the online trading world!
1. Withdrawal processing time is always delayed
2. Lots of user complaints
3. Broker not regulated by any financial authority
4. Support service is very poor
Based on all the facts presented, it seems that trading with Citrades entails high risks. Finding a more reliable broker is highly advised.
Trust Rating: Poor
User Rating: Poor
Editor's Conclusion: Citrades may have upgraded its platform to Spot 2.0 which is considered to be an advantage but this broker scares off traders with their high minimum deposit requirement and unsatisfactory number of tradable assets. Citrades is definitely not a good choice so better find a different broker.
So the question is, what makes you to go with this very obvious untrustworthy broker in the first place?
I believe you already know your chances of recovering your money is very, very slim and the best thing you can do now is to post your bad experiences at as many forums as possible to warn other would-be victims....BUT then those would-be victims should also check out the broker before rushing in to hand over their hard earned money.
This is indeed the cruel hard facts of life in the online trading world!
Firstly i used this broker as it was the choice of the binary boom software that i wanted to try out. I am not sure if there was another choice
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 by the salesperson who told me about the bonus. 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.
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 04/27/15
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<johngoldberg@citrades.com>
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 by the salesperson who told me about the bonus. 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.
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 04/27/15
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<johngoldberg@citrades.com>
binarytrader69
Private
- Messages
- 19
I have deposited $3000 at citrades, I DID not take any BONUS..and still they told me i cant withdraw until 10 times the deposit volume is met, i traded day and night losing and winning and in the End i completed the trading volume of 30k.
Now i have placed a withdrawal request and no one responded for 3 weeks, Now i get a call and the guy named JEFF (conman) said i cant withdraw for at least 6 months since i opened my account. They say its in the terms and condition that the money should be in account for 6 months, HOw in the world can this be true? He just shuts my call everytime by saying all this excuses . I am fed up, what can i do now ?
Now i have placed a withdrawal request and no one responded for 3 weeks, Now i get a call and the guy named JEFF (conman) said i cant withdraw for at least 6 months since i opened my account. They say its in the terms and condition that the money should be in account for 6 months, HOw in the world can this be true? He just shuts my call everytime by saying all this excuses . I am fed up, what can i do now ?
Sorry to hear that you are also having problems with this scam company. Your post and other similar complaints on this site prove just what a scam company this is. I hope you can get your money back. Why not open a case in the traders court section? This will also help others to stay away from this company
This is an update to state that CiTrades have now refunded my account balance in full and no further money is owed. I now regard this case as being resolved.
Citrades have very harsh terms and conditions that are unacceptable. Please be wary.
I wish to thank everyone on the FPA site for their assistance in this matter
Citrades have very harsh terms and conditions that are unacceptable. Please be wary.
I wish to thank everyone on the FPA site for their assistance in this matter
Master Yoda
Captain
- Messages
- 2,929
Can you make sure that in 100% the money is back to your card/ bank account?
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