Tradersking Scammers

[Jimbo195]

Ok, well one charge back has gone through for 5200 USD, just waiting on another for 8k. Hopefully will get the wire back also of 24k.

 

[Jimbo195]

What is the time limit? 3 - 6 months??

 

[Jimbo195]

Also just for information, Tradersking have updated their website to an all new looking sophisticated site, and also updated the logo.

 

[OldBoy1936]

I too opened & funded an account with these people, fortunately only with USD$250.00
I was promised a reliable, accurate (better than 75% Hits), Stream of Signals that I could use, to place Manual Trades.
I have a unique system that ideally needs ~10 per hour or ~50 per day. It will absolutely produce huge profits, if the signals are good enough!
So far, in a few months, I never got even one Signal! Not a big problem, as I can get them elsewhere, from other brokers etc.?
I have worked out how these folk operate... When you open and fund an account, they will give you a Trading Bonus, depending on the size of your First Deposit. In my case it was around USD$200 I think? That is crucial to how their scheme works. Even if they only give you a $1.00 bonus, you are hooked? Under their Trading Rules, (what I'd call the "Small Print"), you will find that in order to withdraw ANY money from the account, YOU HAVE TO TRADE UP TO 25 TIMES YOUR FIRST DEPOSIT, once you have been given ANY kind of Trading Bonus!
So, in my case, this amounts to something over USD$7,500.00! For most folk, that represents a considerable amount of trading?
I have NEVER traded the account, since I NEVER got any Signals from them... So, it seems like an impasse?
I'm not by any means certain if I DID trade the account up to the figure they suggest, that I would be able to get a withdrawal at all?
I just wonder, if they might come up with some more "Small Print", to prevent a withdrawal again?
Has anyone any experience of actually withdrawing their money from their account with TradersKing?
Forget the money for a moment, has anyone any experience of actually getting Reliable, Accurate Trading Signals, from these folk?
If so, how many per day and how accurate?
My System can get up to the figure they need, if I can feed in ~150 to ~200 Good Signals?
That's just a few days trading for me?
But, will they actually pay out?

 

[Pharaoh]

Here's how a serious scam broker works.

1. Ties up your money with bonus terms that only a few traders are likely to meet.
2. For those who survive long enough to meet the terms and make a profit, there will be excuses about withdrawal.
3. To deal with the few from #2 who are persistent, they'll come up with some accusation of improper trading and either cancel all profits or demand a deposit and return you to step #1.

 

[Jimbo195]

Well, in terms of payout I had 1,500 USD only on 53,000 USD balance.

I never took the bonus so there is no reason for them to hang onto the cash. I spoke to them today about a withdrawal and they spun me a line of oh I dont think your account was verified when you made the last withdrawal request, which is utter crap. Anyway, I have the cyber police looking into this case and I also wrote to ING in AMS, which is their bank, and informed them of the fraudulent activities. The ING legal team are also looking into this case.

fingers crossed.

 

[Ibrahim Adam]

Well, in terms of payout I had 1,500 USD only on 53,000 USD balance.

I never took the bonus so there is no reason for them to hang onto the cash. I spoke to them today about a withdrawal and they spun me a line of oh I dont think your account was verified when you made the last withdrawal request, which is utter crap. Anyway, I have the cyber police looking into this case and I also wrote to ING in AMS, which is their bank, and informed them of the fraudulent activities. The ING legal team are also looking into this case.

fingers crossed.

since you have never took any bonus then they should process your withdrawal immediately any time you demand it,and for verification,it is their responsibility to verify account before they open it and allow you to begin trading,this verification trick is old and no scammer broker is using it anymore they r so lame.

 

[Ibrahim Adam]

Here's how a serious scam broker works.

1. Ties up your money with bonus terms that only a few traders are likely to meet.
2. For those who survive long enough to meet the terms and make a profit, there will be excuses about withdrawal.
3. To deal with the few from #2 who are persistent, they'll come up with some accusation of improper trading and either cancel all profits or demand a deposit and return you to step #1.

This has been happening all the time with binary option scammers,i suggest that fpa places a sticky warning for binary traders to check bonus requirements carefully before they agree to take it.

 

[Pharaoh]

I personally view the binary label in the broker list as a warning.

 

[Jimbo195]

I have managed to get my credit card chargebacks of 14k USD so just waiting on a wire transfer of about 22k. Currently the legal team of ING are looking into the company and its fraudulent activities. I have also set a website up warning people of Tradersking.