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RESOLVED via FOS - ThinkMarkets STOLE €43,521.96! ThinkTwice Before You Trade With Them!!!

Discussion in 'Scam Alerts' started by Bollebeertje, Jan 11, 2018.

  1. oscarra

    oscarra 2nd Lieutenant

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    I can see that the terms of the account say ‘We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price Transactions, whether due to manifest error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void.’ So, in principle, TF were entitled to void any trades that would fall under the above description. However ...........:D
     
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  2. Bollebeertje

    Bollebeertje Private, 1st Class

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    Hi Guys,

    Good update from the Financial Ombudsman Service (FOS) in England.

    I recieved a letter with the final conclusion of the Financial Ombudsman himself.

    In short:

    ThinkMarkets failed to explain why their prices were outside of the prevailing market price. According to the third party data they gave to the FOS, I would still have made a profit.

    I've agreed on the conclusion of the Ombudsman, which means ThinkMarkets has to "recalculate" the trades that were voided according to this data. And pay the profits that come out of it, if there was a profit, including an 8% interest.

    The final decision can be found in the attachment (I've edited the original version, so my name would not appear)
     

    Attached Files:

  3. Bollebeertje

    Bollebeertje Private, 1st Class

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    I am happy to announce that ThinkMarkets has paid the full amount into my bank account!

    This case can be marked as [RESOLVED]

    Thanks to the Financial Ombudsman Service! Great work :)
     
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  4. oscarra

    oscarra 2nd Lieutenant

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    Terrible ! what a waste of time, energy with such bunch of scammers, no better then typical criminals…..most always the same excuses tricks not to pay out clients :mad:
     
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  5. 4evermaat

    4evermaat Sergeant

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    Can you elaborate the total amount received?

    And how long it took for ThinkMarkets to pay.

    What country was your bank acct located?

    If you could provide a screenshot, that would be helpful also.
     
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  6. KD2210

    KD2210 Recruit

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    Very happy you got your money& profits back
     
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  7. Bollebeertje

    Bollebeertje Private, 1st Class

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    They paid the full amount owed.

    It took them fourteen months to pay, after going to the Financial Ombudman.

    My bank acct is located in The Netherlands.

    FDF2C092-6EE0-44CD-999A-142F7E8E035B.
     
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  8. KD2210

    KD2210 Recruit

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    Dear Mr Bollebeertje
    What brokers do you recommend to trade cryptocurrencies with ?

    FPA Forums Team Note: Do not ask for or give company recommendations in the Scam Alerts folder.
     
  9. oscarra

    oscarra 2nd Lieutenant

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    including the 8 % INTEREST ?
     
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  10. Bollebeertje

    Bollebeertje Private, 1st Class

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    No without interest unfortunately. However, my expectation was that I would recieve a smaller amount, because the FOS said the underlying prices would differ from the quotes ThinkMarkets gave me. But then it makes me wonder why they paid me the full amount...
     

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