Touchtrades Limited

[Selina Ho]

Cold-called by TouchTrades. Account opened and asked to topup progressively. Traded from Feb~Aug 2017. In the process, margin levels were changed drastically without prior notification, disallowing further trades - ie. lockdown of account. Post closure of open trades, margin levels did not allow prior trade volumes even with confirmation from account manager. Requested account investigation and suddenly received a password change email on 11 Aug 2017. Requested account manager to check for any unauthorised trades. Received no confirmation despite repeated requests. Todate, have not been able to login, close account nor withdraw funds. Support did not respond either.

Called support desk today wrt withdrawal request. They mentioned that the account manager had not approved. When I verified with the account manager, he denied and pointed the finger back to support.

Latest calls to support denied direct access to any personnel and said they will leave a note to the account manager who is not responding at all. Again, the account manager has not approved.

Key points:
(a) lock-down of account without prior notification
(b) unauthorised password change without prior notification
(c) avoided checking account for unauthorised trades
(d) not processing withdrawal and closure of account - delay tactics
- Aug 2: first request to perform partial withdrawal
- Aug 19: no response and following unauthorised password change, requested full withdrawal and closure
(e) refusal to provide regulator information

 

[FxMaster]

Cold-called by TouchTrades. Account opened and asked to topup progressively. Traded from Feb~Aug 2017. In the process, margin levels were changed drastically without prior notification, disallowing further trades - ie. lockdown of account. Post closure of open trades, margin levels did not allow prior trade volumes even with confirmation from account manager. Requested account investigation and suddenly received a password change email on 11 Aug 2017. Requested account manager to check for any unauthorised trades. Received no confirmation despite repeated requests. Todate, have not been able to login, close account nor withdraw funds. Support did not respond either.

Called support desk today wrt withdrawal request. They mentioned that the account manager had not approved. When I verified with the account manager, he denied and pointed the finger back to support.

Latest calls to support denied direct access to any personnel and said they will leave a note to the account manager who is not responding at all. Again, the account manager has not approved.

Key points:
(a) lock-down of account without prior notification
(b) unauthorised password change without prior notification
(c) avoided checking account for unauthorised trades
(d) not processing withdrawal and closure of account - delay tactics
- Aug 2: first request to perform partial withdrawal
- Aug 19: no response and following unauthorised password change, requested full withdrawal and closure
(e) refusal to provide regulator information

Few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:

If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
Go to their website and invite them to here via Live Chat
Invite them to join this thread via email (Send an email to every possible address).

You will find their email and address https://www.touchtrades.com/support/contact-us/

https://www.forexpeacearmy.com/forex-reviews/13040/touchtrades-forex-brokers

You can also share your story on their social media pages mentioned below:

https://www.facebook.com/TouchTradescom-229471900789864


Note: Don’t forget to update your review/s when you got solution of your problem, Best Of Luck

 

[FxMaster]

Also, Share you account number too (Just account number) so you can have a solution soon.

 

[Selina Ho]

Persistently called support folks for a few days until they assured me that they will speak with account manager personally. The account manager finally responded with an email to ask how I was doing?! Told him to get back on Skype but he went ding-dong via email instead, dodging my questions and giving vague explanations of internal quarrels (for a month?) and some attempt to make money. However, he did respond that there is nothing holding him back for my request but the conversation ended there without any conclusive actions. In the end, I could only depart from the conversation with a note of advise to walk the right path but not at the expense of others.

I have since notified my bank of a possible fraud giving reference to my filed police report. While they look into it, I am sending TouchTrades an invitation to join this thread.

As for the account no, they are well aware. If need be, I will share with them privately.

 

[Selina Ho]

It's end of the week and I have called TouchTrades everyday. Accordingly, they have escalated the matter to the account manager's superior. I've been waiting for his call since Tuesday and yesterday night, I stayed up late to catch his call as I had told the support that I would await. No missed calls for sure. I wonder...

I had also invited them to join this thread so as to show their genuine interest in resolving the matter like some threads I've seen. I guess not?

 

[Selina Ho]

Wow, just got in touch with support today and was told that the support manager is out-of-office and to check about three weeks later! It's like going to the bank to perform withdrawal service and told to return 3 weeks later for an update.

Seems like the account is under investigation as the last transaction was a loss, but still in positive including capital invested. So I told Chris that it wouldn't take more than a few hours to investigate since all transactions are identifiable. The interesting mentioned was that there were loss trades post withdrawal request? Perhaps there was some confusion with the facts as the withdrawal request came after the closure of the last trade.

As his backup, I have urged him to followup with the respective party and will check again 2 days later.

 

[Selina Ho]

Called TouchTrades again late last week and spoke with Lily this round. The usual response that she would drop a note to the account manager to respond. When I insisted that it would not work, she dropped the call and refused to pick up in the next 8 calls peppered throughout the day.

Her behaviour corresponds to that of a fraudster in cahoots with the other counter parts.

What can be done now as they will block contact with anyone internally?

Someday, when they become the victims, they will begin to understand the mental torture that they did onto others.

 

[Selina Ho]

Latest update. Checked back with TouchTrades and the call was routed to some company in Glasgow. Apparently, many others have called and faced the same fate. The company dissolved on 19 September 2017.

Interestingly, another victim reported the same here and mentioned the same account manager (Mr Jason Nick Beckmann) that I had. I had initially refrained from mentioning names as I had wanted to allow a police investigation to take place before confirming that this is a scam company.

Nick, if you were a victim yourself (since you spoke of how you had wanted to help others out of their poverty), please report to the police too. Think of the no. of people you had helped to scam and what their money meant to them.

If anybody out there has some advise to help us all, would appreciate. eg. lawyers, government institutions

 

[Selina Ho]

Folks,
I had been cold-called a couple of times since this incident. Points to note:
- these self-appointed account managers will tell you that you had posted your interest and hence, the followup
- question their company location and whether they are registered with some government financial agency
- lookup these agencies under the mentioned government directory
- while they perform a know-your-customer (KYC) on you as a customer, you will also need to KYC them. Even better, get them to send you their identity and company data

In my last call, after I asked about the account manager's origins etc, he cut the call short. What does that tell you?

Hope the above helps.