Resolved: Tradersway Scam
- Thread starter Shortlady
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- tradersway.com
TradersWay
TradersWay Representative
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- 1,785
Client sent us a picture of a bank letter showing that she did indeed initiate a dispute against her authorized deposits ($200 x 2) she made into her trading account. These same funds were used for trading after the deposits were made. Further, on the letter we see that the reason for the dispute was "Services not rendered by merchant." Her bank found that this was untrue and just denied the claim now. However there is still another bank she used to deposit and made a much larger dispute ($1000) that is not yet settled.
We informed the client that we need to find out the result of that claim before proceeding. We also directed the client to contact the card payment processing merchant directly to ensure we get our funds back from the denied dispute - we cannot simply allow a withdrawal of those funds until we get them back from processing, as they were forcibly pulled from us.
This case hinges upon someone depositing, trading, and trying to make a chargeback (albeit unsuccessfully). Like every case we deal with, it will be handled properly. However we are not a charity and won't release any funds until we receive them back through the credit card network - which can take weeks. We did not initiate this dispute, so the client's doing will need to be handled on her end entirely and in full. We will not risk sending money and then have the client somehow chargeback again. There is already a major indication that we should not trust here.
Note: We mention specific dollar amounts in this thread as the client mentioned them first in previous posts. If the client modifies any posts later on and asks for us to redact dollar amounts, it will be done.
We informed the client that we need to find out the result of that claim before proceeding. We also directed the client to contact the card payment processing merchant directly to ensure we get our funds back from the denied dispute - we cannot simply allow a withdrawal of those funds until we get them back from processing, as they were forcibly pulled from us.
This case hinges upon someone depositing, trading, and trying to make a chargeback (albeit unsuccessfully). Like every case we deal with, it will be handled properly. However we are not a charity and won't release any funds until we receive them back through the credit card network - which can take weeks. We did not initiate this dispute, so the client's doing will need to be handled on her end entirely and in full. We will not risk sending money and then have the client somehow chargeback again. There is already a major indication that we should not trust here.
Note: We mention specific dollar amounts in this thread as the client mentioned them first in previous posts. If the client modifies any posts later on and asks for us to redact dollar amounts, it will be done.
Poundtrader
Sergeant
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- 137
im so happy to hear this im a big fan of tradersway and never had a problem with withdrawal so i was a little concern, i always come here to check on my broker keep us posted and up to date. thank you
TradersWay
TradersWay Representative
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- 1,785
To elaborate on final details and how we will proceed -
Client performed 4 deposits, one for $1000, one for $500 and two for $200 -- client has publicly stated this information previously.
Client attempted to charge back $1000, $200 and $200. Client was successful in charging back $1000 but her bank denied the two $200 chargebacks. We finally received information that the $1000 did indeed go through and was granted by her second bank. Funds were pulled from our side so thus removed from her trading account along with the $50 chargeback fee we receive from the card processor.
Client's account balance is now approximately $300, however we have informed her we will not send any funds and her account will remain locked until 6 months pass from the time of her final deposit. She last deposited June 26th, so she can withdraw after December 26th. As mentioned, she deposited $500 once and this amount was not yet charged back (or attempted) by the client. Because of the behavior exhibited with the other three deposits, we will wait until the chargeback period expires (6 months) before releasing the funds. Client understands and agreed via email. We will not send funds and then have another chargeback occur. So far 3 out of 4 deposits were attempted to be charged back by the client so we will wait.
Afterward, client has also agreed to tell FPA that the issue has been resolved when the time comes, as this whole issue arose out of a client depositing, trading and trying to make chargebacks. There is no scam activity from us, so the premise of this entire thread is not fairly directed.
Client performed 4 deposits, one for $1000, one for $500 and two for $200 -- client has publicly stated this information previously.
Client attempted to charge back $1000, $200 and $200. Client was successful in charging back $1000 but her bank denied the two $200 chargebacks. We finally received information that the $1000 did indeed go through and was granted by her second bank. Funds were pulled from our side so thus removed from her trading account along with the $50 chargeback fee we receive from the card processor.
Client's account balance is now approximately $300, however we have informed her we will not send any funds and her account will remain locked until 6 months pass from the time of her final deposit. She last deposited June 26th, so she can withdraw after December 26th. As mentioned, she deposited $500 once and this amount was not yet charged back (or attempted) by the client. Because of the behavior exhibited with the other three deposits, we will wait until the chargeback period expires (6 months) before releasing the funds. Client understands and agreed via email. We will not send funds and then have another chargeback occur. So far 3 out of 4 deposits were attempted to be charged back by the client so we will wait.
Afterward, client has also agreed to tell FPA that the issue has been resolved when the time comes, as this whole issue arose out of a client depositing, trading and trying to make chargebacks. There is no scam activity from us, so the premise of this entire thread is not fairly directed.
TradersWay
TradersWay Representative
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- 1,785
This is not a withdrawal; these are chargebacks.
madnessdoes
Recruit
- Messages
- 2
first this complaint, then the other were they have fake spikes, thank you all, Im avoiding this company like the plague. glad I did not sign up with them. and what a croc, hold the funds for 6 months, if they sent the funds, there would be no charge back.
stevesmain
Sergeant
- Messages
- 227
sound business practices by TradersWay. If they investigate thoroughly then they ought to be in business for a long time.
Clients have responsibilities also, first and foremost be reasonable
Clients have responsibilities also, first and foremost be reasonable
TradersWay
TradersWay Representative
- Messages
- 1,785
You did not read and understand this thread.
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