Resolved - How to withdraw from maxcfd.com

[timoc]

Hi there,

I am based in Melbourne, Australia, and I also created an account with this "trader" (maxcfd.com) on 11/8/2017. Right after, I received a phone call from a consultant who started to walk me through the process of making an initial deposit of 250 euros, with a promise of a bonus credit with my initial deposit. It was late on a Friday afternoon, so I decided to wait, and put him off, despite some resistance.

On 13/8/2017, I deposited the minimum amount of 250 euros, WITHOUT the bonus credit offer. For some reason, after I made the deposit, I decided to see what was involved in making a withdrawal, and realised there were some hoops to jump through, which I wasn't sure about. At that point, I did some Googling which I wish I had done 30 mins earlier.

So I did everything which was required of them to gain authorisation for making a withdrawal, and are waiting to hear back.

I have not made any trades using this account, and have not spoken to anyone since the initial phone call. The Sydney phone number I was called from on the Friday afternoon simply plays elevator music when I dial it.

My account on the website still shows my balance as being 250 euros.

I simply want to be able to withdraw my balance.

Hoping anyone else who has had dealings with this "trader" will post here also.

My account ID with MaxCFD is 2102017

 

[timoc]

When I emailed them to confirm when withdrawal access would be granted, they emailed me two further forms to complete in order for them to be able to progress.

As far as I could tell, all thes two forms would do is give them undeniable access to do whatever they wish with my account and my funds. Obviously I did not return the forms.

I have uploaded them both with this post.

 

[FxMaster]

Ask them why you have to fill up these two forms? The withdrawal form is enough to get your funds into your account.

 

[timoc]

Ask them why you have to fill up these two forms? The withdrawal form is enough to get your funds into your account.

Hi, yes I posed this question a couple of times now. Their response each time is basically as follows:

"Sir,
As explained, those documents are needed so as to fully activate your account.
No one will be trading on your account without your prior written consent.
I hope that this explanation will reassure you.
Warm regards,

Annabelle"

 

[FxMaster]

Hi, yes I posed this question a couple of times now. Their response each time is basically as follows:

"Sir,
As explained, those documents are needed so as to fully activate your account.
No one will be trading on your account without your prior written consent.
I hope that this explanation will reassure you.
Warm regards,

Annabelle"

Tell them that you just want to withdraw funds at a moment.

 

[timoc]

I had one of their "senior account managers" ring me yesterday afternoon, and during a long chat, I told him just that. He kept dancing around the whole idea of my being able to withdrawing funds. I suggested to him that as soon as I can confirm that I can withdraw, then I will be happy to work with him. He said he would have to do the withdrawal for me (on my behalf) since my account had not yet been verified. After some to and fro-ing, he asked how much I wanted to withdraw, and I said lets go with $200 for now. Then he rambled on out about how it is my money, and I can withdraw whenever I want, blah blah blah. Then said he would ring me back.

The thing is, he seemed oblivious to the fact I had been emailing their support person (Annabelle) the previous night, inviting them to come to this thread, and informing them I was getting in contact with authorities, etc.

In the mean time, last night I rang their support line in UK, and despite getting the usual elevator style music to start with, someone actually answered, and it ended up being Annabelle. She eventually informed me my account balance was zero, since the funds had been returned to my bank, and I should check with my bank. I was a bit surprised, since the last time I had checked, my account still showed my $250 balance.

So after the call, I checked and sure enough, my balance was zero. I have been checking my bank account since, and so far no sign of the deposit back into my account. The original payment I made to them had now gone from pending to a confirmed transaction with my bank. So I called the bank and now have them investigating, and they have pretty much confirmed they will repay me the money if the company turns out to be how I have described. They dis also mention that if the money has been returned to me, being from an overseas account, it may not show up for 1-2 days, so I will keep an eye out for it.

 

[timoc]

Just reporting back to say that the full amount of my original deposit has now arrived back in my bank account.

 

[FxMaster]

Just reporting back to say that the full amount of my original deposit has now arrived back in my bank account.

Always good to see resolved cases Yo asstmod, can you mark this thread as a resolved, please?

 

[Fiona]

Hi, I'm also having a problem getting $250 refunded from maxcfd.com
My account has not been authorised, I was told a refund would be no problem but now it seems it is.
My account ID with MaxCFD is 2103032

 

[timoc]

Hi Fiona, firstly make sure you don't sign any documents they send you.

If you do that, you shuold be ok. Also don't deposit any more money, and don't agree to receiving any credits/bonuses, or for them to make trades on your behalf.

You don't need your account to be approved for you to withdraw yuoself, tehy have to refund your money if you continue to request and put pressure on them. Make sure they are clear that you want you rmoney back. Request this in here, by emal and over the phone. You should be able talk with somkeone over the phone by calling their London office around 9-10am UK time. Their London office phone number is on the website.

Email them teklling them you want your money back, and invite them to respond at the link to this thread.

Feel free to private msg me here if you want further assistance.

Regards,

Tim