Trade12

[Pharaoh]

Congratulations! If everyone did this, scammers would walk away with a lot less money.

 

[Yc2017]

After ur bank refunded to you, do trade12 looking for u? So meaning to say, your balance in your MT4 account will be zero balance, although there is a position balance, but you have no way to withdraw the money out?

 

[peterakie]

Hi all

I was contacted by a company, Trade 12, with the chance to open a trading account in July. I did some research into the company and everything appeared to be in order. I then decided to open an account with the minimum amount of $100.
I made a few small trades and things were going well, I was then contacted with an amazing opportunity to make bigger profits if I transferred additional funds. They again offered 100% bonus, I informed my broker that I would transfer the funds, however once these trades were done, I would be withdrawing some of the funds from my account, no problem, this all went to plan.
My brokers changed intermittently and every so often I was notified of an opportunity if I transfer additional funds to support my account. Although I was still rather skeptical, I had made some money and was able to withdraw, so decided I would see how things go, knowing that if there was a problem, I would be able to withdraw my funds.
I am now stuck in 2 lock-trades, whereby I have an open buy & sell position for the same commodities, which I cannot close due to the state of my account. My broker previously advised that I should transfer additional funds to support my account, we can then safely exit the lock trades and I would be able to withdraw from my account. At this point I was highly upset, as it appeared that my broker had knowingly put me in this position, with the end goal being for me to transfer additional funds. It seemed to me like I had no choice, I reluctantly transferred the funds and advised my broker that this would be the last time I transfer any funds. We were able to close the one trade, however the other kept declining. I was then advised to open another trade, thus causing another lock-trade, in order to stop the losses.
My broker is now requesting that I transfer $6k to open a trade on Facebook which will generate huge profits, thus allowing me to safely close all open trades and I can then withdraw all my funds if I so chose, or continue trading...where have I heard this before...

I have now advised him that this is absolutely not an option, can we not make smaller trades and slowly fix my account. He responded with a thank you, but I cannot work with you anymore.

I have seen a few people online have experienced problems trading with this company and the only positive reviews I can find appear to be sales pitches.

I'm at a loss of what to do now. If I were to close all open trades, I would, at best, get 10%-20% of the money I deposited back, if I were able to withdraw.
I have discussed with my bank as well, they can go through the process of investigating the transfers to this company if I log a dispute, however this investigation can take up to 45 days.

Anyone else have any experience with this brokerage?

You said you did research about them and you found all good but there are negative reviews about them before July which you can read here https://www.forexpeacearmy.com/forex-reviews/12421/www.trade12.com (You can also share your story there as a review)

Now 1 advice do not transfer any funds to them before you get anything from there. Ask them the proper reason and T&C where they have mentioned that you have to deposit more to take your deposit back?

Hi I am also sitting with a similar problem with them lock trades wrong advice and promises of withdrawals once you can deposit more money. My problem came I had opened 4 trades on N-gas April contract which expired end of March 2018.No notification was made to me to let me know that I should close these trades, any good broker would. The trades were not closed as I missed it by five minutes and MT4 kept giving me OFF QUOTES error every time I tried to close them. I had deposited 5.5k already in my account but had made about 7K profit until then. But I could not make any withdrawal because these trades were open. No account manager contacted me all this time until end May 2018 . Michael contacted me telling me if I wanted to close the positions I needed to deposit 5,8k and I would be able to withdraw all my money. So I did but I never could deposit the whole amount by the Friday 4pm. I was short about 1.5k and only managed to deposit that on the Saturday. I get a phone call Monday saying I need to deposit another 3k as the market price went up and now I'm short. There was no way had any of that kind of money and asked if there was any other solution but I was told that there was no other solution. I even asked if they could close the trades off one at a time (there were 4 trades of 0.5 units each 1:200 leverage) I then asked them countless time to refund me at least my last deposit as it was not used for what it was intended this fell on deaf ears. I then kept emailing them about this but no answers.
Then before the contract expired again last month the price had come down and I was sure the trades could be executed with the capital in my account but no one contacted me. Then this week 15 Aug. all of a sudden when the price went back up I was contacted by Nethan James apparantly from the liquidators saying that If the positions arent closed they will be liquidated and I will loose my account at the end of this period which I believe is the 31 Aug. He said that I can get all my money and profit by the end of trading day if I deposit $14k or in two weeks time If I deposit $4k. we can close them off one by one (all of a sudden this is now possible) I have come to the conclution that these brokers will only help you if you make a deposit otherwise its not in there intrest to help you . In any case I don't have 4k and I have no clue how to close the positions. Any suggestions would be welcome.
My positions are:

1) NGAS-APR18 buy 0.50 2.738 ---> 2.686
2) NGAS-APR18 buy 0.50 2.742----> 2.686
3) NGAS-APR18 buy 0.50 2.650----> 2.686
4) NGAS-APR18 buy 0.50 2.644 ---> 2.686

My balance is $19 285, Equity is $23 964, Free margin : $22,887 Margin Level(%) 2224.31 Margin 1077.4

FPA Forums Team Note: It is better to open your own thread for your problem instead of bumping an old thread.