TRADE.com Scam? I Would Never TRADE With Them (again).

[Bollebeertje]

My intention wasn't to go public with this item. I tried to contact them for about eight times, with no resolve. But due to lack of communication from their side I feel obligated to do this. I try to be as factual as I can. I'm not responsible for any opinions or judgements that are made here about Trade.com (or Lead Capital Markets):

This is what happend:
18 sept. '17: Registerd with Trade.com
21 sept. '17: Made a first deposit of €5,000 on Trade.com
25 sept. '17: Made my first trade with my own money on Trade.com
27 sept. '17: Made another deposit of €5,000 and €2,070.01 on Trade.com
13 oct. '17: Requested my first withdrawal of €10,000 on Trade.com
16 oct. '17: First adjustment of maximum lotsize from 80 Bitcoin (USD) and 50 BITCOINEUR to 50 Bitcoin (USD) and 30 BITCOINEUR. And LITECOINEUR 10,000 to 6,000. Account balance was €171,040.36 then on Trade.com
17 oct. '17: Recieved an email in which I was requested to send my Proof of Deposit statement for the withdrawal request. I sent the support department of Trade.com the required documents immediately.
19 oct. '17: The withdrawal of €10,000 at Trade.com got approved.
23 oct. '17: Another adjustment of max lotsize to 40 Bitcoin (USD). And my leverage was set to 1:1 (100% margin). Account balance was €285,323.49 then on Trade.com. I decided it was time for a new broker because of this restrictions.
2 nov. '17: I requested a withdrawal of my remaining funds (€351,395.39) to my bank account.
8 nov. '17: From Andrei of Trade.com I recieved an email in which he requested me to send him a proof of deposit of a deposit of €40,000 that I had made on the 19th of september. I replied to him that I NEVER made such a deposit, and sent him the POD from my first three deposits. (Which they already got from me)
9 nov. '17: My withdrawal request was confirmed and the email said it would take 3 - 5 business days. I recieved another personal email that it would take 5 - 7 business days. A few hours later I recieved an email from George Rodger of Leadcapitalmarkets (parent company of Trade.com) that he froze my account for investigation. And he referred me to section 19 of their terms and conditions (Market Abuse and Prohibitive Trading Techniques).
10 nov. '17: Sent George Rodger an email that I was kind of shoked recieving his email.
16 nov. '17: Sent him another email in which I asked why the investigation takes that long, and why I haven't recieved any response on my previous email.
17 nov. '17: Called George Rodger on the phone. Spoke to his assistant and she said he would call me back. (He didn't) I recieved an email from the support department of Trade.com that they processed a withdrawal request of €2,070.01. And another email that same day in which they approved the request. I didn't made the request, THEY DID.
20 nov. '17: Called his phone number again. No one there. Sent him another email complained to him about his lack of communication. And I also referred to the terms and conditions section 14 (withdrawal request will be processed by us ... on the same day that the request to withdraw funds was made.) I could login (was banned) again, so I requested a new withdrawal of €350,108.23.
21 nov. '17: Recieved an email from George Rodger of Leadcapitalmarkets that my account was still under review. And he hoped to conclude their investigation by the end of the week.
27 nov. '17: Sent an email to George Rodger complaining about not recieving an email last friday. I also reffered to him that they were holding my funds to this moment for about 16 days, which is €767.36 interest on a 5% p.a. over €350K. Recieved another email from him in which he stated that they were still investigating my account for probable breaches of the Terms and Conditions of Trade.com, and reffered to the sections they were investigating. I immediatiely responded (See picture below) to him and stated that all my trades were made under their terms and conditions. No software, no arbitrage, no sniping, no scalping. I also demanded that he would confirm my withdrawal request by the end of the week, or I would take further legal actions.
30 nov. '17: Recieved two emails from Trade.com. One email about a change in their terms and conditions, about 12.5 Commissions, Fees & Charges. And another email about changes on cryptocurrency trading.
4 dec. '17: Recieved an email from info [at] leadcapitalmarket.com that I would have to agree to their new terms and conditions, and would let them know if I would disagree. In that case they would suspend my account, and I would place a withdrawal of the total amount within 30 days of this notice.
5 dec. '17: I replied to their last email notifying that I do not agree to their new terms and conditions and that I want to withdrawal my remaining funds (which I already did on the 20th of november for €350,108.23) including their €1,246.96 built up 5% interest for keeping my funds frozen for 26 consecutive days without legal reason to do so.

I'm not here to judge the company, or give Trade.com (or Lead Capital Markets) a bad reputation. Like I said, I try to be very factual. If Trade.com doesn't communicate or coöperate with me, it's their fault for getting a possible bad reputation. I just want my remaining funds of €350,108.23 and the additional built up interest of €1,246.96 back.

TRADE.com... give me my money back.

 

[FxMaster]

My intention wasn't to go public with this item. I tried to contact them for about eight times, with no resolve. But due to lack of communication from their side I feel obligated to do this. I try to be as factual as I can. I'm not responsible for any opinions or judgements that are made here about Trade.com (or Lead Capital Markets):

This is what happend:
18 sept. '17: Registerd with Trade.com
21 sept. '17: Made a first deposit of €5,000 on Trade.com
25 sept. '17: Made my first trade with my own money on Trade.com
27 sept. '17: Made another deposit of €5,000 and €2,070.01 on Trade.com
13 oct. '17: Requested my first withdrawal of €10,000 on Trade.com
16 oct. '17: First adjustment of maximum lotsize from 80 Bitcoin (USD) and 50 BITCOINEUR to 50 Bitcoin (USD) and 30 BITCOINEUR. And LITECOINEUR 10,000 to 6,000. Account balance was €171,040.36 then on Trade.com
17 oct. '17: Recieved an email in which I was requested to send my Proof of Deposit statement for the withdrawal request. I sent the support department of Trade.com the required documents immediately.
19 oct. '17: The withdrawal of €10,000 at Trade.com got approved.
23 oct. '17: Another adjustment of max lotsize to 40 Bitcoin (USD). And my leverage was set to 1:1 (100% margin). Account balance was €285,323.49 then on Trade.com. I decided it was time for a new broker because of this restrictions.
2 nov. '17: I requested a withdrawal of my remaining funds (€351,395.39) to my bank account.
8 nov. '17: From Andrei of Trade.com I recieved an email in which he requested me to send him a proof of deposit of a deposit of €40,000 that I had made on the 19th of september. I replied to him that I NEVER made such a deposit, and sent him the POD from my first three deposits. (Which they already got from me)
9 nov. '17: My withdrawal request was confirmed and the email said it would take 3 - 5 business days. I recieved another personal email that it would take 5 - 7 business days. A few hours later I recieved an email from George Rodger of Leadcapitalmarkets (parent company of Trade.com) that he froze my account for investigation. And he referred me to section 19 of their terms and conditions (Market Abuse and Prohibitive Trading Techniques).
10 nov. '17: Sent George Rodger an email that I was kind of shoked recieving his email.
16 nov. '17: Sent him another email in which I asked why the investigation takes that long, and why I haven't recieved any response on my previous email.
17 nov. '17: Called George Rodger on the phone. Spoke to his assistant and she said he would call me back. (He didn't) I recieved an email from the support department of Trade.com that they processed a withdrawal request of €2,070.01. And another email that same day in which they approved the request. I didn't made the request, THEY DID.
20 nov. '17: Called his phone number again. No one there. Sent him another email complained to him about his lack of communication. And I also referred to the terms and conditions section 14 (withdrawal request will be processed by us ... on the same day that the request to withdraw funds was made.) I could login (was banned) again, so I requested a new withdrawal of €350,108.23.
21 nov. '17: Recieved an email from George Rodger of Leadcapitalmarkets that my account was still under review. And he hoped to conclude their investigation by the end of the week.
27 nov. '17: Sent an email to George Rodger complaining about not recieving an email last friday. I also reffered to him that they were holding my funds to this moment for about 16 days, which is €767.36 interest on a 5% p.a. over €350K. Recieved another email from him in which he stated that they were still investigating my account for probable breaches of the Terms and Conditions of Trade.com, and reffered to the sections they were investigating. I immediatiely responded (See picture below) to him and stated that all my trades were made under their terms and conditions. No software, no arbitrage, no sniping, no scalping. I also demanded that he would confirm my withdrawal request by the end of the week, or I would take further legal actions.
30 nov. '17: Recieved two emails from Trade.com. One email about a change in their terms and conditions, about 12.5 Commissions, Fees & Charges. And another email about changes on cryptocurrency trading.
4 dec. '17: Recieved an email from info [at] leadcapitalmarket.com that I would have to agree to their new terms and conditions, and would let them know if I would disagree. In that case they would suspend my account, and I would place a withdrawal of the total amount within 30 days of this notice.
5 dec. '17: I replied to their last email notifying that I do not agree to their new terms and conditions and that I want to withdrawal my remaining funds (which I already did on the 20th of november for €350,108.23) including their €1,246.96 built up 5% interest for keeping my funds frozen for 26 consecutive days without legal reason to do so.

I'm not here to judge the company, or give Trade.com (or Lead Capital Markets) a bad reputation. Like I said, I try to be very factual. If Trade.com doesn't communicate or coöperate with me, it's their fault for getting a possible bad reputation. I just want my remaining funds of €350,108.23 and the additional built up interest of €1,246.96 back.

TRADE.com... give me my money back.

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Few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:
Invite them to join this thread via email (Send an email to every possible address).
Go to their website and invite them to here via Live Chat
You will find their email and address here https://www.trade.com/en/contact-us

Also, Share your story as a review here www.forexpeacearmy.com/forex-reviews/11129/www.trade.com

You can also share your story on their social media pages mentioned below:
https://www.facebook.com/Tradecom/ (Click on MORE and you will find write review option there)https://www.youtube.com/channel/UCSBYPnXK51BCLwoH0Y1TM-w

https://twitter.com/TradeComEN

https://itunes.apple.com/US/app/id1120178110?mt=8

https://play.google.com/store/apps/details?id=com.trade.android

 

[fireiceviper]

Wow another one... its a bit of a copy paste reply but check this out:

Exactly the same problem as me... did you file a complaint with Cysec yet? you can do that here https://www.cysec.gov.cy/en-GB/complaints/how-to-complain/ but first you need to make an official complaint to trade.com / leadcapitalmarkets .. there is a complaint form on there website https://www.trade.com/files/policies/complaints-handling-policy.pdf ... they should reply within 5 days and then after more nagging and emails you will get a complaint number. use that number to file a complaint to CySec

be sure to check out my problems with them too..

 

[Bollebeertje]

Still no response on their side.

On 19 dec. '17 I filed an official complaint to them.
They did not respond within 5 days. So I went to the chat and asked them for a response.
On 5 jan. '17 they responded to me with a case number.
Today I filed the complaint at the financial ombudsman of Cyprus. I hope they can help.

Good to hear @fireiceviper got his money back from them!

 

[Bollebeertje]

Still quiet there...

 

[Bollebeertje]

Ofcourse TRADE.com (Lead Capital Markets LTD) charges €8.05 inactivity fee on my account. Dafuq? The money doesn't matter to me, it's more the principle behind it that matters to me.

 

[4evermaat]

Did you file a separate FPA court case yet?

CySec is pretty worthless anyway.

 

[Bollebeertje]

Ok... so I was busy filing my traders court against TRADE.com (Lead Capital Markets LTD). I wanted to look up for some information in my inbox, still a little upset by the fact that TRADE.com did not communicate ANYTHING... until this point. I FINALLY recieved an email from George Rodger (COO of Lead Capital Markets LTD):

RE: How are you?

Dear Sir,


First of all I would like to apologise for the length of the investigation.


However as I am sure you appreciate this involved a large number of transactions that had to be analysed on your trading account as well as to other interconnected accounts either through identical/similar IP addresses or due to identical/matching opening times of trades.


Since you deny using algorithmic or other automated software, and there is no decisive evidence currently to the contrary, the company’s conclusion at this moment in time is that you were participating in or instigating a large scale ‘pump and dump’ scheme in order to manipulate the pricing of various crypto currencies in order to fraudulently and illegally earn profit.


Until we can evaluate all trading transactions on your account and establish which specific ones were genuine and which were part of ‘pump and dump’ co-ordination, all profits will be assumed to be null and void.


Please note despite the fact that here is no official position from European authorities/bodies determining whether the trading on CFDs relating to virtual currencies falls under paragraph 9, Section C, Annex 1 of Directive 2004/39/EU on markets in financial instruments (‘MiFID’) and especially in light of Circular C244 issued by CYSEC we will proceed to inform both the Cyprus and Dutch securities regulators of the above in order to obtain their guidance on how to move forward since we believe illegal activities were carried out.


If in the meantime you wish to highlight specific transactions that were not part of the above suspected ‘pump and dump’ scheme, we would be happy to investigate, evaluate and accord you the profits if such is the case.


Kind Regards,


George Rodger |Chief Operating Officer


My thoughts:
First of all, I appreciate the apologies.

I jumped in the air...!!! Man... is this what they come up with? Serious? Than it's pretty clear that I will get my money back soon. Because none of this actually happend.

I can understand that they come up with this, because it's known by the news that a lot of pump and dump happens on the cryptomarket, and they want to protect their money as well. But the thing is... They can never PROVE that I've done this or participated in such a scheme, BECAUSE I NEVER HAVE.

So I ask TRADE.com (Lead Capital Markets LTD) to come up with evidence that this should be true...

In the meantime I continue with the Traders Court.

 

[Bollebeertje]

I thought I would update on this one... My case still hasn't been resolved.

Since the Financial Ombudsman will only handle disputes up to €170.000 I move this case forward to a lawyer.

In the traders court there is an email where the final conclusion of TRADE.com is displayed. It can also be found here:

El 29 mar 2018, a las 11:11, Despina Sfiktou <despina.s@leadcapitalmarkets.com> escribió:
Dear Sir,


Following our email dated 11th February 2018, we would like to provide you with our final decision based in our investigation.


Kindly note that the Company is in the opinion, as we already mentioned, that all the transactions in your account were part of “pump and dump” co-ordination and therefore all profits are null and void.


Finally we would like to draw your attention to the Circular 244 of the Cyprus Securities and Exchange Commission, which refers to the trading in virtual currencies, in accordance with the Circular , there is no specific EU regulatory framework governing the trading in such products. Trading in CFDs cryptocurrencies is not covered by MiFID, and therefore falls outside the scope of the Company’s MiFID regulated activities. In this respect please refer to our internal policy in relation to trading in CFDs in cryptocurrencies for more information https://www.trade.com/en/terms-conditions .


Kind Regards,


Despina Sfiktou|Legal and Compliance Advisor

STAY AWAY FROM THESE SCAMMERS!!!

 

[Bollebeertje]

Hey everyone!

I'm still alive.

This company still owes me €350,108.23.

Nothing has changed in between. Except that I spoke to a lot of people and am 100% convinced that what TRADE.com (Lead Capital Markets LTD) did is committing fraud.

When you trade your hard earned money with them it goes either two ways:

1. You lose your money because you bet on losing trades.
2. You win money, but they won't pay you. So in the end you still lose money.

Yes this company paid my full deposit back. But wouldn't it be fair to also pay the profits?

I know people who got their money back, and who used the exact same instruments and strategies. And why do they get their money back?

Well, because I believe their balances were smaller than mine. €350K is a shiny new Lamborghini, and I don't think George William Rodger wants to return is Lamborghini back to the dealer.

Sad thing for him is... it will never feel that good to drive a lambo when it's "earned" with stolen money. His time will come eventually

Sorry my man, it's nothing personal, just business.

Back 2 the grind!

I'll keep ya posted