RVMarkets SCAM

gordon16888

Recruit
Messages
3
RVMarkets SCAM (this case is closed at 7/12)

2010/12/14 - I opened an account on RVMarkets. I had five or six strategies at first. Three months later, I cut some strategies which lost money, and the others started making money.

2011/05/20 - When my profit reached 50%, I got first warning letter from RVMarkets:

-------------------------------------------------------
Your style of trading, according to the automatically-generated
Reports Server falls under the category of "gridering".

We encourage you to rethink its approach to trade in the near future,
otherwise we will be forced to take action.

You can request a detailed report on the matter by writing to the
address account@rvmarkets.com.

In connection with a deep respect for you, we are compelled to send
you a first warning.


Best regards,
Account Team
------------------------------------------------------------------

So I request a detailed report. But when the report was arrived, they disqualified me at the same time, and threatened to cut my profit.

2011/05/25

--------------------------------------------------------------
Based on the reports attached to this letter, including
automatically-generated Reports Server, it was determined that trading
style of your EA included elements of "greading". Based on this, you
have repeatedly been sent warning with a request to change the trading
style of your EA, our request was not granted, resulting in your
accounts have been disqualified.

Your initial deposit will be returned to you as soon as possible. In
the event that you review the style Trade your EA, we will be glad to
welcome you to our campaign.

We are always going to meet our customers.

Best regards, Account Team.
--------------------------------------------------------------

However, this is the last mail I received from the Account Team.

2011/05/31 - I started to proceed my withdrawal. It took me one week that their support team approved my identity.

2011/06/08 - I emailed their finance team my request form of the withdrawal. No response was from them and no money was back to my bank account.

2011/06/14 - I forwarded my mail to their finance team again

2011/06/20 - I forwarded my mail to account team, finance team and support team together. But no response is from any of them.

The only guys I can reach is online support team. But they asked me to find account team guys by myself. They cut not only my profit but also my initial deposit.

I need your help!


2011/07/12 - All my money is shown on my bank account. There is no reply or reason from RVMarkets why it takes one month. Anyway, the case is closed. However, for those who has account on RVMarkets, I suggest you withdraw your money as soon as possible because you don't know when they will disqualify you if you have accumulated huge profit.
 
Last edited:

Hermes Leao

Private, 1st Class
Messages
54
2010/12/14 - I opened an account on RVMarkets. I had five or six strategies at first. Three months later, I cut some strategies which lost money, and the others started making money.

2011/05/20 - When my profit reached 50%, I got first warning letter from RVMarkets:

-------------------------------------------------------
Your style of trading, according to the automatically-generated
Reports Server falls under the category of "gridering".

We encourage you to rethink its approach to trade in the near future,
otherwise we will be forced to take action.

You can request a detailed report on the matter by writing to the
address account@rvmarkets.com.

In connection with a deep respect for you, we are compelled to send
you a first warning.


Best regards,
Account Team
------------------------------------------------------------------

So I request a detailed report. But when the report was arrived, they disqualified me at the same time, and threatened to cut my profit.

2011/05/25

--------------------------------------------------------------
Based on the reports attached to this letter, including
automatically-generated Reports Server, it was determined that trading
style of your EA included elements of "greading". Based on this, you
have repeatedly been sent warning with a request to change the trading
style of your EA, our request was not granted, resulting in your
accounts have been disqualified.

Your initial deposit will be returned to you as soon as possible. In
the event that you review the style Trade your EA, we will be glad to
welcome you to our campaign.

We are always going to meet our customers.

Best regards, Account Team.
--------------------------------------------------------------

However, this is the last mail I received from the Account Team.

2011/05/31 - I started to proceed my withdrawal. It took me one week that their support team approved my identity.

2011/06/08 - I emailed their finance team my request form of the withdrawal. No response was from them and no money was back to my bank account.

2011/06/14 - I forwarded my mail to their finance team again

2011/06/20 - I forwarded my mail to account team, finance team and support team together. But no response is from any of them.

The only guys I can reach is online support team. But they asked me to find account team guys by myself. They cut not only my profit but also my initial deposit.

I need your help!
Hi Gordon

I am your colleague from the forum jtoday.com.
It's very good when you speak out widely your problem here so that besides you can get help from our good fellows we also help others to avoid entering in the same problem too.

Because I saw your post claiming RVMarket to be a scam I am feeling myself of a big help communicating this to Scott in ForexVerified.com who is just (praticaly) making an association with them.The following is a copy of the email I've sent to him.

Good luck.


Hi Scott

I've been reading your emails and Im really enjoying what you do for us as users and I like your Forex logical too.

I was really willing to follow you to RVMarket until I saw a scam alert on FPA just placed yesterday.
Please take a look
http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/15764-rvmarkets-scam.html

I really take into consideration what you think and what you say for the experience you have, so please take a minute to read it and please answer me wheather we should wait until they can have that case solved.

Thank you very much.

Hermes
 
Last edited:

Pharaoh

Colonel
Messages
19,779
Please keep this one up to date. I'm curious to know how "gridering" violates their rules.
 

gordon16888

Recruit
Messages
3
Hi, Hermes,

Thanks for your reply which has been the first one since I posted it.

I browsed "Forex verified" and didn't see if "Honesty" is verified by them. Let's wait and see.

I also encourage anyone who has an account in RVMarkets can share his experience of withdrawal, especially after May, or make a request of withdrawal.



Hi, Pharaoh,

I have written a mail to ask the same question. And the reply is below:
-----------------------------------------------------
Dear Gordon!

The concept of "grider" is distorted by "grader" , such as
bulldozers to go and sweep all. This means sweeping all the profits.

We let to hold no more than 10-12 positions on one currency pair is
currently .

Best Regards
RVT Support Team
--
С уважением,
Account mailto:account@rvmarkets.com
----------------------------------------------------------
If anyone knows this man "С уважением", please tell me how I can contact him.
 
Last edited:

Romeo

Sergeant
Messages
239
Did they explain you the problem? It is good for the traders to read what they wrote to you as explanation!
 

Pharaoh

Colonel
Messages
19,779
С уважением translates to "yours sincerely" according to Google language tools.

So, they are afraid that having too many positions open on a single currency pair will allow you to make profits.

ANY broker that doesn't want clients to make profits is a broker I don't want an account with.
 

gordon16888

Recruit
Messages
3
С уважением translates to "yours sincerely" according to Google language tools.

So, they are afraid that having too many positions open on a single currency pair will allow you to make profits.

ANY broker that doesn't want clients to make profits is a broker I don't want an account with.
Thanks for your information.

I never open more than nine positions on a single currency. So their limitation of less than twelve positions means nothing to me.

Did they explain you the problem? It is good for the traders to read what they wrote to you as explanation!
When they disqualified me, they explained something which is on my posts. In a word, they don't like my EA. After that, they don't reply me anymore. I contact their online support every week, and supporting guys always promise bringing my words to their account and finance teams. But I haven't got my money back still.
 

Laurie Gold

Corporal
Messages
119
Hey Gordan;

I was looking into RVmarkets when I came across your post. I was wondering if you could please update the post, as to whether you got your $$$.
 
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