Resolved - Trader XP - refusing to return intial deposit

simonprecio

Private
Messages
12
In June 2013, I opened an account with Trader XP and started working with a trader, Danny Brown, building up my account balance with daily trades. Over the course of two months, I invested €2000 and with a combination of bonuses and winning trades, I got my account balance to over €7000.

It was then that I started doing more research on Trader XP and started to read a lot of bad comments on forums, so I decided to quit while I was ahead, and informed Danny Brown that I wanted to withdraw the majority of my initial deposit, €1950. I told him that I wasn't interested in any of the money accrued through bonuses as I was aware of the 20x initial deposit clause in the terms and conditions, I just wanted to recoup my own money that I had invested.

Initially, he said this was fine, and that I would need to send an image of my credit card with the numbers blanked out for security, which I did. From that point on, I got stonewalled, no one would speak to me. It's now two months later. I have sent them countless emails and submitted forms through their website, none of which have got a response. I have rung them many times and I'm just met with endless hold music.

It's pretty clear that they have no intention of returning my money. After searching around, I found this forum post from 2010, where a representative from Trader XP claims Danny Brown no longer works there.

http://www.complaintsboard.com/complaints/traderxp-c304430.html

I would recommend everyone to stay well away from Trader XP. They seem to only exist to take as much money as they can from you before shutting off all contact and never dealing with you again.

If anyone knows how I can get this initial deposit back, I would be grateful of any help.

Simon
 

Pharaoh

Colonel
Messages
19,959
Get in touch with the fraud department at your credit card's issuing bank. Explain the situation to them and ask if a Charge Back would be appropriate for your circumstances.
 

TraderXP Customer Support

TraderXP.com Representative
Messages
5
Simon-regarding your withdrawal

In June 2013, I opened an account with Trader XP and started working with a trader, Danny Brown, building up my account balance with daily trades. Over the course of two months, I invested €2000 and with a combination of bonuses and winning trades, I got my account balance to over €7000.

It was then that I started doing more research on Trader XP and started to read a lot of bad comments on forums, so I decided to quit while I was ahead, and informed Danny Brown that I wanted to withdraw the majority of my initial deposit, €1950. I told him that I wasn't interested in any of the money accrued through bonuses as I was aware of the 20x initial deposit clause in the terms and conditions, I just wanted to recoup my own money that I had invested.

Initially, he said this was fine, and that I would need to send an image of my credit card with the numbers blanked out for security, which I did. From that point on, I got stonewalled, no one would speak to me. It's now two months later. I have sent them countless emails and submitted forms through their website, none of which have got a response. I have rung them many times and I'm just met with endless hold music.

It's pretty clear that they have no intention of returning my money. After searching around, I found this forum post from 2010, where a representative from Trader XP claims Danny Brown no longer works there.

http://www.complaintsboard.com/complaints/traderxp-c304430.html

I would recommend everyone to stay well away from Trader XP. They seem to only exist to take as much money as they can from you before shutting off all contact and never dealing with you again.

If anyone knows how I can get this initial deposit back, I would be grateful of any help.

Simon

Hi Simon,

TraderXP does not follow any policy of withholding funds that are rightfully entitled to our clients. We follow our terms and conditions strictly regarding withdrawals, bonuses, and all the procedures these realms require. If you feel you have funds that you are entitled to which we still have, please email us at support@traderxp.com for resolution and/or clarification of the issue. You can also contact us by the live chat which is provided on our website at Binary Options Trading | Stock Options Trading | Binary Options Trading System.

Sincerely,

Customer Support
TraderXP
 

simonprecio

Private
Messages
12
Finally a response from TraderXP! I received instructions this morning on how to proceed with my withdrawal request. I will update this post when the request is fulfilled.
 

TraderXP Customer Support

TraderXP.com Representative
Messages
5
Hi Simon

Finally a response from TraderXP! I received instructions this morning on how to proceed with my withdrawal request. I will update this post when the request is fulfilled.

Hi Simon,

I checked your account and it appears that all was taken care of regarding your withdrawal.
If there is anything further you need assistance with, let us know.

Sincerely,

TraderXP Customer Support
 
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