Resolved - Plus500 blocked my account after profits

4evermaat

2nd Lieutenant
Messages
1,972
You didn't 100% answer the question. Account trading history. You should have this:


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Make a formal complaint with them. (make sure you write "formal complaint" in the top and bottom of the email)

And let them know that they must pay you by the 27th or you will have to complain to the AFCA.

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stop depositing with companies if you don't understand their business model.
 

Todoimaginario

Private
Messages
17
You didn't 100% answer the question. Account trading history. You should have this:


-----------------------

Make a formal complaint with them. (make sure you write "formal complaint" in the top and bottom of the email)

And let them know that they must pay you by the 27th or you will have to complain to the AFCA.

----------------------------------

stop depositing with companies if you don't understand their business model.

Hello. In my last message I attached two PDF files. They have the whole transaction history (closed trades) from the first day I opened those accounts. That is the only kind of statement Plus500 offer, since they don't use MT4 or MT5. Do you think that should be enough to make the formal complaint?

This is what I will send them as soon as I have your thumbs up:

Ttitle of the email: Formal complaint.

Body of the email:

Formal complaint.
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Dear Plus500 team:

By this mean I inform you that I will present a formal complaint to the AFCA by the 27th of April if, by that date, the totality of the funds holds in my accounts, numbers 122899088 and 134976524 is not sent to any of my approved deposit/withdrawal methods by you. The funds held in those accounts is 647.43 euros and 6414.31 euros, respectively.
This complaint will be based on the fact that my accounts were restricted from making withdrawals or trading with no explanation from your side, and the total inefficiency of your support service to find a solution.
Sincerily.
Ulises Fernandez.
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Formal complaint.
 

Todoimaginario

Private
Messages
17
Good news! Only a few hours after I filed complaints with the ASIC, the AFCA and the FAIS, I received this email:
Untitled.jpg

I'll just wait until those funds reach my bank, and then problem solved!

Special thanks to 4evermaat for all the patience and wise advises I received from him.If it wasn't because of all the evidence he told me to collect, I probably wouldn't have been able to file those complaints. I will attach here the complaints I made to the ASIC ans AFCA, just in case they can be useful in new cases. Unfortunately, FAIS didn't give me a receipt.

PD: Just for the record, this is the Section 22.7 of the User Agreement:
We shall be entitled to terminate the Client Agreements immediately by providing you written notice, with or without cause, in our sole and absolute discretion. Any open positions should be closed by you as soon as reasonably practicable and in any event no longer than 14 days after we give Notice, after which we reserve the right to close such Transactions on your behalf, at the last available price, before permanently closing your Trading Account.
 

Attachments

  • AFCA Report.pdf
    45.5 KB · Views: 12
  • ASIC Report.pdf
    526.2 KB · Views: 9

4evermaat

2nd Lieutenant
Messages
1,972
Please update us one more time when all funds are received to your bank account (or neteller/skrill/etc if you used that)

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Side note: Completely unsurprising about their response. But the real question is: why would you want to trade with such a company anyway??? It's a blessing for you and a bucket shop to part ways. (and you keep the money you are entitled with)
 

Todoimaginario

Private
Messages
17
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Side note: Completely unsurprising about their response. But the real question is: why would you want to trade with such a company anyway??? It's a blessing for you and a bucket shop to part ways. (and you keep the money you are entitled with)

This is the broker I started trading with a year ago. I learned the basics of trading with them, never had any issues trading or withdrawing, and because they are regulated, I felt safe. I didn't know this community and the cases against them.
Anyway, I'm still doing some research here, checking the reviews of different brokers in order to find a better one to keep trading in the future.
 

Todoimaginario

Private
Messages
17
The OP has invited the company to this discussion on Apr 29, 2020 at 9:00 AM
 

Todoimaginario

Private
Messages
17
So, the nightmare is far from ending yet... I just received this email.Untitled.jpg
They already sent back the funds from my small account, where I had 600 euros, but they decided to keep the funds from my larger account, of more than 6300 euros.
I am already getting too frustrated with this... In the end, filing the complaints didn't work the way I thought they did.
I tried to invite them to this topic to try to find a public solution. I am not sure how it works, though
 

4evermaat

2nd Lieutenant
Messages
1,972
I am already getting too frustrated with this... In the end, filing the complaints didn't work the way I thought they did.

Sometimes less than scrupulous brokers like to drag their feet. That is very strange that they would not pay by now.

Hang in there. There are guys that are waiting for $2 Million from their broker.

.......
I tried to invite them to this topic to try to find a public solution. I am not sure how it works, though

Have a look at this article: https://www.forexpeacearmy.com/community/threads/new-traders-court.58022/
 

Todoimaginario

Private
Messages
17
FINALLY!

They processed the withdrawal request from my second account, and the funds already arrived to my bank account this morning.
With this, I say "problem solved". I hope this case can be useful for future victims of this scammer broker.
 
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