TraderXP scammed me of thousands

legal research

Recruit
Messages
5
Hello Everyone,

This is my situation. First of all I should say that I was totally stupid and should of know better. I wish I had of taken a look at this site before losing money to these scammers. I can confidently say SCAMMERS, FRAUD EXPERTS, CHEATS and any other words that degrade a human.

Please if your thinking of getting into the OPTIONS trading DO NOT USE THESE SCAM ARTISTS. TRADERXP I dealt with a scammer called ALEX STERN. I happened on this site Traderxp by accident, and thought you know what let me open an account for 250 US.. This was something I could afford and thought maybe I could learn something.

As soon as I registered with a credit card I received a call from this ALEX STERN and I'm sure its not his real name by the way. He calls me and tells me he is going to make me all kinds of money. Next thing you know I find out he took 800 euros from my credit card, then 5000 US and then another 5000 US and final to top it off 2500 US for good measures. All along I never ever approved these transactions other then the original 250 US. He finally showed me my account and I noticed these amounts and said where did this money come from? He said your account, I asked what account? He answered your CREDIT CARD. I told him I didn't approve this and I wanted all my money back. He said look listen to him and let him make some trades for me since I was on the "optimal program". Well I said I want my money put back into my credit card immediately. He went forth and traded and said by tonight if the trades didn't reach 20,000 US he would return all my money plus he would give me 20,000 US. Now I knew for sure I was in trouble and that I certainly was on my way with a scammer, and this money may be gone forever.

He lost all the money he took from my credit card and then he proceeded to give these bonus and lost them too. I kept asking for my money back. Kept badgering, and finally said yes but now I had to wait about 5 weeks because he made a trade that would expire in that time.

This was not apparent to me at the time because you see the payments did not appear on the credit card. I became suspicious about this ALEX STERN, and I phoned my credit card company to find out if there was any withdrawals from this shady character I was talking too. Well low and behold I became aware of these moneys which were not taken out yet but were on hold. The bank couldn't do anything for me at this point.

How can this be that people like this can do as they want and are protected legally. (apparently they have amazing Lawyers and know how to protect themselves so as not to cross the line with litigation). Someone opened a group on Facebook concerning this fraudulent company and were quickly closed down by these lawyers as the rumor goes.

There is more to this story with your permission I hope I can add as we go along.

Please I need your help desperately.

Thanks.
 

Pharaoh

Colonel
Messages
19,959
Don't talk to TraderXP on the phone under any circumstances. If anyone from TraderXP (or any new broker) calls, say something like "I'm very busy now. Email me whatever it is you want to say" and end the call.

Call your credit card's issuing bank. Ask to speak to the fraud department. Explain exactly what happened and ask if a chargeback is appropriate.

If they do threaten you legally, post it here.
 

nakachalet

Recruit
Messages
10
every time i returned to visit here, i felt so very saddened by so many posters.... who lost their capital, not because of their trading but scrammers.

Don't talk to TraderXP on the phone under any circumstances. If anyone from TraderXP (or any new broker) calls, say something like "I'm very busy now. Email me whatever it is you want to say" and end the call.

Call your credit card's issuing bank. Ask to speak to the fraud department. Explain exactly what happened and ask if a chargeback is appropriate.

If they do threaten you legally, post it here.

every time i returned to visit here, i felt so very saddened by so many posters.... who lost their trading capital, not because of their bad trades, but because of fraudsters.

why not post and ask for advices here before sending away your money with the hope that someone would increase and multiply it for you.

no one would do that for you.

in the trading arena, each trader would have to protect their capital first and foremost.... , then you can think about every which way, how you can learn to trade to increase your capital....
 

Lanzo

Private
Messages
23
This one is a terrible one. I opened accounts with 3 binary companies and as i was afraid, i never fund the account nor ever disclosed any credit card. They called me several times and i told them clearly that they are stilling money from people's credit cards. So they stopped calling me.
I hope sincerely that this case may be a warning example for all of us. These binary or options companies are not regulated, thus making it unsecure to do business with them.
So, my dear fellow Legal Research, as suggested by fellows i think you may have to liaise with the issuer of your credit card and claim that you have not approved the transactions.

Advice to others: Never use a credit card that is related to your main account with any online broker. Try to use a card that has only the amount you desire to invest.
 

legal research

Recruit
Messages
5
The problem is who would of know they were going to steal money. I only put in 250, thats it. They took the rest without my authorization.

Does anyone know where this company is located? I heard cyprus also associated in Ontario canada.

Where do I go from here guys? Take the loss? Is there anyway of putting pressure on these people?

thanks
 

Lanzo

Private
Messages
23
some information show that the company is located in cyprus, that is an island part of the european union. But nobody could know for sure that they are in cyprus. even if they are there, since they are not regulated and legally registered, how will one involve the authorities of that country to help?
Besides, Traderxp is used to still money from people's credit cards since many years now they are doing the same.
My advice is to hammer on the issuer of your card. They can get back your money.
 

Lanzo

Private
Messages
23
Please your own name as Legal Research, what does that suggest? Has Traderxp really scam you? Or is it just a research you are conducting?
 

LotzofBotz

Banned
Messages
9
They are located in Tel Aviv, Israel as are most of the shady brokers. If people did even the smallest amount of due diligence they would know which binary brokers you can trust or which have reps like this. So I don't feel bad for you. There are so many new entries into this space that are in my opinion starting or will start to hurt end the scam brokers and the rash of complaints you are starting to see is likely proof of this happening.
 

legal research

Recruit
Messages
5
Lanzo---try calling the majority of Binary options companies---non of them take anything but credit cards. I have done of online business before, and never has this happened to me.
 

legal research

Recruit
Messages
5
"They are located in Tel Aviv, Israel as are most of the shady brokers" ------is this a presumption or is it true? I have gone all over the internet and had others looking as well----this is a new one. They hide their IP and change it regularly. One day its in Delaware US next its UK, then where ever. Please clarify.
 
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