Resolved: EASY MARKETS REFUSING TO PAY ME MY IB/AFFILIATE COMMISSIONS OF OVER $5,000.

andyonandy

Private, 1st Class
Messages
63
I am no longer able to login to the account as at today @FxMaster. What happened to 3 months of commission for revenue share after termination @The easyMarkets Team? Anything else to be done here?
If you just got here from my blog or my twitter account let me save you time by giving a summary of what is ensuing:

1. I had money stuck unfairly with easymarkets. At that time about $2.1k. Contacted them and the affiliate manager Bharat told me to refer client. I did.
2. In March same story of my unavailability to withdraw my balance. This time it had grew to $4.8k. Contacted the manager Bharat. He told me that the two clients I referred were not enough. That I should refer 5 clients before he will pay me. I did this. See email correspondence:

Screenshot 2020-06-24 at 2.30.42 PM.png

3. As you can see on 13th April 2020, the affiliate manager who easymarkets say is the one in charge to pay me already told me my frozen account is now enabled meaning I will get my money now.
I never did. I again asked him why since he told me bringing the 5 active clients will solve my issue.Now he said to bring 3 more clients or one big client. By this time I had had it with negotiating so decided to seek advise here at FPA. They threatened to send me peanuts or close the account and not send me a dime.
4. Today the 17th July 2020, they have closed my account and I am unable to login, and I was still accruing commissions. See attached. However I remember as at yesterday the 16th July 2020 my open balance was almost $6,000.
5.They took all these actions even while the case was here at FPA and now claim I never brought any clients this year in the first place and the clients were activated in 2011. (Check other screenshots in this thread to see how many active clients I have referred this year).
I don't know if the FPA is going to do anything about this or if it will escalate to a court but at least you should take a cue and stop doing any business with them. This case is never resolved and I wish for it to remain open till there is payment. You guys saw them rob me first hand here!
 

andyonandy

Private, 1st Class
Messages
63
Two issues with this :

1. Your system is automatic, my account goes dormant when I don't refer any client for two months (previously three). So the better part of the previous years when it was dormant I wasn't accruing any commission though the client was trading. I refer some clients and I start accruing again. Your system doesn't accrue commission i'm not supposed to get. This year I have referred 11 clients , 7 or 8 of whom have activated. Unless you're saying I hacked into your system and put my commission balance there.


2. By your own submission the client was activated in 2011 and was under a previous commission structure which means for the lifetime the client trades I get commission. As per your Affiliation Agreement clause 4.2, "You will continue to receive compensation based on the previous compensation structure for those active traders and second tier affiliates that fall under the compensation structure prior to date of amendment." Please don't treat me like I can't read.

The 4.6 clause was updated on :
View attachment 54624
I have been asking you to close my account and send me my balance before that date.On phone you said if I close the account you will zero the accrued commissions. My current balance is $5862, close the account, terminate the agreement and send me my balance. Thank you.
Update, I noticed they removed the date of the amendment on their affiliate terms and agreement page. So as to seem that the quote from the clause they are referring to has always been there.
@FxMaster , Will you invite them to answer the questions I specifically asked again? Too much foul play.
 
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andyonandy

Private, 1st Class
Messages
63
@The easyMarkets Team, we need a reply from your end here.
@The easyMarkets Team So why are you spoiling your reputation on this. You claimed you were regulated at Marshall Islands. So why now.
I have still not had replies to questions. For avoidance of doubt these are the issues I have raised. Please answer them one at a time so I am satisfied. Your proposed resolution of giving me $800 is rejected. This is commission generated by clients referred this year alone. Now you say I have zero??Come again. @easyMarkets.

1. As at end of February 2020 my balance was $2.1k per my screenshots. Your clause 4.6 did not say I was not entitled to this amount. Give me the reason why you didn't send it.

2. I accrued $2.7k in commissions in March 2020. Why didn't you send this commission too?

3. On April 14th 2020 when you put into clause 4.6 that I am not entitled to the commissions accrued did you check to see that your own clause 4.2 "You will continue to receive compensation based on the previous compensation structure for those active traders and second tier affiliates that fall under the compensation structure prior to date of amendment" contradicts the new wording you put in 4.6? 4.6 means all the clients I referred from 14th April 2020 onwards will be accruing commission for me till 2024. Answer question 1 and 2 then I show my other proofs. A video recording has been done on my account so I am seeing the subtle changes being done but please answer
Why are you not pointing out clause 4.2?????
@The easyMarkets Team Come and explain your side of the matter in these 3 points. Then I can consider the matter closed. You can't keep ignoring me and expect me to stay quiet on the issue. Is my balance going to Bharat or what? Or you going to share it among staff? How can you change your whole company terms and conditions after failing to pay one client for two whole months, just to come and say he is not entitled to the commissions?
We need a reply here? The matter is not closed.
 

andyonandy

Private, 1st Class
Messages
63
Update

They have now even closed my trading account which is to receive the commission owed. Can't login to it and I didn't ask for it to be closed. @FxMaster look at my review here want it to show here on reviews as well
 

4evermaat

2nd Lieutenant
Messages
1,983
I certainly hope you are not still referring people to easyMarkets.

I do understand you want your commissions, and I think you have earned them according to the affiliate/commission rules at the time when you signed up and signed up clients.


The flip side is to consider all of the victims that you sent to get roasted by a scam broker.
 

andyonandy

Private, 1st Class
Messages
63
I certainly hope you are not still referring people to easyMarkets.

I do understand you want your commissions, and I think you have earned them according to the affiliate/commission rules at the time when you signed up and signed up clients.


The flip side is to consider all of the victims that you sent to get roasted by a scam broker.
Even if I still had the IB account open (closed without sending me anything out of my balance) there is no way i'm recommending them to people. Everyone I have contact with already warned. I don't know how many still have accounts there. Everyone should just stay away.
 

andyonandy

Private, 1st Class
Messages
63
Well since I found out they are unregulated at Marshall Islands I think no one will be doing business with them. At least in my region anyway. The whole rebrand from easyforex to easymarkets was a ruse. They were shut down by CYSEC (because EasyMarkets is not in the Cysec records, only EasyForex) and though still operating there have moved all clients to EasyMarkets. Easyforex did have all client information after all and so I believe there is no regulatory body to report to.
 
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