Tradesprime Scam Review - Avoid it all costs

[TeEarl]

Please do NOT submit "proof of residence" these scammers will use that as evidence against you to ensure that you chargeback request with the bank fails.

The account manager should NOT be trading on your account. If they are, then this means something is very wrong here. Does you account manager have access to your account? Did they ask for your password? If so, did you give it to them? If you have, then please go and change your password now.

At the end of the day consider this: This is your account and this is your money. Why should anyone be trading on your account using your money? I smell rat, because all the legal, regulated brokers that I have dealt with (e.g. XM.com and Plus500) have never acted in such a way.

What do you mean by your account being "partially activated"? Do you mean verified? E.g. you need to submit copies of your ID, card (with all the sensitive information concealed), is that right?

Oh God! My bad
I already submitted POR yesterday.
Yes it is my account manager who is trading for me in my account. O did not give him my password but he can trade on it. However, he just traded once and made a profit of 100 last week. He keeps on suggesting that it would be even better if i increase the deposit/investment but i declined. And then he said that what he can guarantee with $500 capital is only 1 trade ler week and a profit of 200-400 per month..that made me think of withdrawing my money now. However I am also afraid that if I do that he will made some actions and say that he lose the trade and might even say that i already lost all the money in my account. So scared now..

Let me also share last time he was so eager to trade when he saw me on skype. However I did not saw him. He said his camera is off. I should have seen it as something fishy. Hmm
Then from there he keeps on calling me and even said that he wants to see me in the Philippines without my husband and that really alarmed me. From there I started asking for the withdrawal of my money which he declined. I called another person from their company and he said he was so disappointed with my managers manner and said that he will look into that as soon as possible and assured me that everything wl be finr by tomorrow. He also advised not to talk anything with my manager except for business related matters about my account only. If that same thing continues he advised me to report my manager to customer service. And it did..the day After that, my account managers approach became even more formal but one thing I dont like is that he is now be oming more low tempered against me. And he became not as eager as before in trading and earning profit.

Yes, partially activated means he cannot proceed with trading if it is not fully activated.

Regarding the bonus, I ask Frank (umarkets representative the one who helped me in opening an account) if whether I am allowed to withdraw my bonus. And he said yes if i reach a number of trade. Well im not intnerested In getting it now.
I also ask my manager that I will jist wait for my money to earn profit and afterwhich I will witjdraw my money already. And he agreed on that. I am not sure though if he would really stick to his promise.

I am new to thing investment thing. And I am now worried. I should have read a lot first before investing. I just hope nothing goes wrong and I would be able to get my money when I request for withdrawal.

By the way I attempted to request but it really needs his approval and whenever I do that, the following day he would call and ask me why I want to withdraw it. Dont i trust him? , he asked. Well i said yes i doubt due to nunerous bad reviews i jave read online. Then he said "just let me prove that i can be trusted through actions and not in words. I will trade for you and earn profit for you"

Sounds good. But i am not that 100% sure about this thing.im so worries, confused and anxious now. I am also afraid that if I will keep on insisting to withdraw my money, like qhat ive rwad, some personal expert just closed the account and bo kore calls heard from them. That is what I am afraid of.

 

[Abs1616]

Oh God! My bad
I already submitted POR yesterday.
Yes it is my account manager who is trading for me in my account. O did not give him my password but he can trade on it. However, he just traded once and made a profit of 100 last week. He keeps on suggesting that it would be even better if i increase the deposit/investment but i declined. And then he said that what he can guarantee with $500 capital is only 1 trade ler week and a profit of 200-400 per month..that made me think of withdrawing my money now. However I am also afraid that if I do that he will made some actions and say that he lose the trade and might even say that i already lost all the money in my account. So scared now..

Let me also share last time he was so eager to trade when he saw me on skype. However I did not saw him. He said his camera is off. I should have seen it as something fishy. Hmm
Then from there he keeps on calling me and even said that he wants to see me in the Philippines without my husband and that really alarmed me. From there I started asking for the withdrawal of my money which he declined. I called another person from their company and he said he was so disappointed with my managers manner and said that he will look into that as soon as possible and assured me that everything wl be finr by tomorrow. He also advised not to talk anything with my manager except for business related matters about my account only. If that same thing continues he advised me to report my manager to customer service. And it did..the day After that, my account managers approach became even more formal but one thing I dont like is that he is now be oming more low tempered against me. And he became not as eager as before in trading and earning profit.

Yes, partially activated means he cannot proceed with trading if it is not fully activated.

Regarding the bonus, I ask Frank (umarkets representative the one who helped me in opening an account) if whether I am allowed to withdraw my bonus. And he said yes if i reach a number of trade. Well im not intnerested In getting it now.
I also ask my manager that I will jist wait for my money to earn profit and afterwhich I will witjdraw my money already. And he agreed on that. I am not sure though if he would really stick to his promise.

I am new to thing investment thing. And I am now worried. I should have read a lot first before investing. I just hope nothing goes wrong and I would be able to get my money when I request for withdrawal.

By the way I attempted to request but it really needs his approval and whenever I do that, the following day he would call and ask me why I want to withdraw it. Dont i trust him? , he asked. Well i said yes i doubt due to nunerous bad reviews i jave read online. Then he said "just let me prove that i can be trusted through actions and not in words. I will trade for you and earn profit for you"

Sounds good. But i am not that 100% sure about this thing.im so worries, confused and anxious now. I am also afraid that if I will keep on insisting to withdraw my money, like qhat ive rwad, some personal expert just closed the account and bo kore calls heard from them. That is what I am afraid of.

Hello,

Sorry for the late reply I've been so busy.

Looking at your story I can clearly see that your case bear the major hallmarks of a scam. Why? Because the fact they talk about "trust" is a dead giveaway. No normal, legal or regulated company will every tell you "don't you trust me?" Because good, regulated companies reply on good reputations and services to survive. You really should not be letting anyone trade on your account. It is your money and your account so why should a stranger (who you've never met and never seen) be handling and dealing with your money? It honestly does not make any sense (and I mean that in the kindest way possible ). Are there any open/current trades on your account? If not, disable the ability for this company to execute trades on your account now.

The fact that this person has seen you on skype and that you've not seen him clearly proves that he is hiding something. Another thing is that one from any regulated broker will ever ask to meet you. This scammer who wants to meet you sounds very dodgy - If I were you I would say that: "A major event occurred and I really need the money" ===> Make sure you have this in writing and record their response. Any legal, regulated broker will respect that decision (and NOT question it). It is your money so why should they question you in withdrawing your own money? Again it does not make any sense.

Keep asking them for a withdrawal every few days. Record all of these (and their responses). If after say, 3-4 weeks no withdrawal has yet been received, then initiate a chargeback request with your bank. Make sure you supply as much evidence for your side of the story to the bank. Make it look like you are the victim and not the unwise person (who gave their money away without doing any research ==> Because banks will often bring out this point as an excuse not to refund your money, so please be careful). If that makes sense

Please let me know what happens if you like

 

[TeEarl]

Hello,

Sorry for the late reply I've been so busy.

Looking at your story I can clearly see that your case bear the major hallmarks of a scam. Why? Because the fact they talk about "trust" is a dead giveaway. No normal, legal or regulated company will every tell you "don't you trust me?" Because good, regulated companies reply on good reputations and services to survive. You really should not be letting anyone trade on your account. It is your money and your account so why should a stranger (who you've never met and never seen) be handling and dealing with your money? It honestly does not make any sense (and I mean that in the kindest way possible ). Are there any open/current trades on your account? If not, disable the ability for this company to execute trades on your account now.

The fact that this person has seen you on skype and that you've not seen him clearly proves that he is hiding something. Another thing is that one from any regulated broker will ever ask to meet you. This scammer who wants to meet you sounds very dodgy - If I were you I would say that: "A major event occurred and I really need the money" ===> Make sure you have this in writing and record their response. Any legal, regulated broker will respect that decision (and NOT question it). It is your money so why should they question you in withdrawing your own money? Again it does not make any sense.

Keep asking them for a withdrawal every few days. Record all of these (and their responses). If after say, 3-4 weeks no withdrawal has yet been received, then initiate a chargeback request with your bank. Make sure you supply as much evidence for your side of the story to the bank. Make it look like you are the victim and not the unwise person (who gave their money away without doing any research ==> Because banks will often bring out this point as an excuse not to refund your money, so please be careful). If that makes sense

Please let me know what happens if you like

oh my God. I feel so fooled. They put bonus into my account without making clarifications on its terms and conditions. They require turnovers before i could claim it.

The manager also told me that he will no longer trade for me because i onlyvhave 500 investment which is too small... Where in fact at the onset of opening this account they really told me that the manager will trdae for me. As a newbie i took a bite since i do not know how to trade. Its a good thing tjat an expert will trade n my behalf. Its just that i do not tlhave the recordings of the calls and messages It is only now that i realized that I just fell into a bait. now theyre not letting me withdraw the miney unless i reach the turn over. You think i can make that turn over, i dont even know how to trade.

Before adding the bonus, I clearly asked him for any terms and condition, that may hinder me from withdrawal. He said none. And now he just called, asked for more investment like another 500 because if not, then he will no longer trade for me instead he will just walk me through.


Im trapped now. My God. I WILL NEVER RECOMMENT UMARKETS TO ANYBODY. THEYRE FULL OF DECEIT. THEY NEVER MAKE THINGS CLEAR AT THE ONSET. NOT EVEN STATED IN THE POLICY TERMS AND CONDITIONS

 

[Abs1616]

oh my God. I feel so fooled. They put bonus into my account without making clarifications on its terms and conditions. They require turnovers before i could claim it.

The manager also told me that he will no longer trade for me because i onlyvhave 500 investment which is too small... Where in fact at the onset of opening this account they really told me that the manager will trdae for me. As a newbie i took a bite since i do not know how to trade. Its a good thing tjat an expert will trade n my behalf. Its just that i do not tlhave the recordings of the calls and messages It is only now that i realized that I just fell into a bait. now theyre not letting me withdraw the miney unless i reach the turn over. You think i can make that turn over, i dont even know how to trade.

Before adding the bonus, I clearly asked him for any terms and condition, that may hinder me from withdrawal. He said none. And now he just called, asked for more investment like another 500 because if not, then he will no longer trade for me instead he will just walk me through.


Im trapped now. My God. I WILL NEVER RECOMMENT UMARKETS TO ANYBODY. THEYRE FULL OF DECEIT. THEY NEVER MAKE THINGS CLEAR AT THE ONSET. NOT EVEN STATED IN THE POLICY TERMS AND CONDITIONS

I will make this very clear: Do NOT even attempt to reach the turnover. Why? Because firstly, you lack the experience and knowledge how to trade (by the looks of it). Trading requires weeks, even months of studies and dedication to finally master a strategy that works for them. You will need to watch a lot of YouTube videos (from a number of different channels), read PDFs and other documents just to ensure that you are able to make a decent profit. The majority of trades on regulated brokers lose money because they have not put in the time and effort to finally master FOREX trade (and quickly give up).

Secondly, as soon as you start trading these scammers will cut the sever so that you cannot modify trades or close them in profit. Once this has happened your account will be "blown" (or so you think) and your account balance reduced to zero (despite the fact that no money was ever in your account to begin with). This is done especially to prevent you from getting your money back once you request a chargeback from the bank. They will mostly likely say to the bank: "This individual has executed careless trades and lost all their money, so it is their fault". It's a dirty trick, so do not fall for it.

What documents exactly did you sign? Please do not post them on here - rather private message it to me if you wish.

To sum it up: Do NOT trade on that Umarkets account as they will cripple you by doing so and you will lose every last penny in that account for good.

Only trade using legal, regulated brokers from your own country.

Can you not go to your telephone provider (e.g. vodafone, O2, EE etc) and ask them for a recorded conversation of your earlier interactions with Umarkets? I know someone who was able to get a hold of that...

Regardless, you do not really need the initial records of your early interactions with Umarkets. What you do need is records that Umarkets has failed to give you the requested withdrawal. Are you able to call them yourself via mobile number? Or does the phone just ring for 3 - 59 seconds and then disconnect (like with us)? One thing you can do is to call them (and record it) and ask them who signed the terms and conditions? Make sure you insist that you were never informed of the terms and conditions before signing up (and record it). Send them lots of emails complaining about the poor service, no mention of terms and conditions and no withdrawals. Make sure you request a complaint reference number - in your email state that is the law to provide this number. If they fail to do this then this will strengthen your position with the bank.

Do not be bothered by the fact he is not trading in your account. In fact you should be happy Because means he can't play about with the settings (via your trades) and reduce your balance to zero ===> Thus making you look better in front of the bank.

Have you started recording everything like I had advised you previously? The sooner and more evidence you gather the better your likelihood of getting your money back. Just make sure that you portray that you are the victim and the unwise person (who did a terrible mistakes). Again this is meant in the kindest way possible

Bear something in mind: Chargeback are designed to favour you (the consumer). They are not designed to favour the scammers (aka "the merchant"). Hence why they exist. Remember that with each chargeback request the bank will place a penalty charge on the scammers account. If these scammers get enough chargeback requests from enough victims then the greater the penalty becomes and the bank accounts for these scammers will be closed permenantly. Once this happens these scammers will cease to exist and they have to start another scam company from scratch ===> This is what happened to vortex assets (hence why it no longer exists)

However, do not take this for granted you still must file a very strong case to your bank. If not they may not feel the urge to perform the requested chargeback (although they really should, there are some banks who may not want to initiate the chargeback request for whatever reason).

Good luck and all the best. Let me know if you need more help

 

[TeEarl]

I will make this very clear: Do NOT even attempt to reach the turnover. Why? Because firstly, you lack the experience and knowledge how to trade (by the looks of it). Trading requires weeks, even months of studies and dedication to finally master a strategy that works for them. You will need to watch a lot of YouTube videos (from a number of different channels), read PDFs and other documents just to ensure that you are able to make a decent profit. The majority of trades on regulated brokers lose money because they have not put in the time and effort to finally master FOREX trade (and quickly give up).

Secondly, as soon as you start trading these scammers will cut the sever so that you cannot modify trades or close them in profit. Once this has happened your account will be "blown" (or so you think) and your account balance reduced to zero (despite the fact that no money was ever in your account to begin with). This is done especially to prevent you from getting your money back once you request a chargeback from the bank. They will mostly likely say to the bank: "This individual has executed careless trades and lost all their money, so it is their fault". It's a dirty trick, so do not fall for it.

What documents exactly did you sign? Please do not post them on here - rather private message it to me if you wish.

To sum it up: Do NOT trade on that Umarkets account as they will cripple you by doing so and you will lose every last penny in that account for good.

Only trade using legal, regulated brokers from your own country.

Can you not go to your telephone provider (e.g. vodafone, O2, EE etc) and ask them for a recorded conversation of your earlier interactions with Umarkets? I know someone who was able to get a hold of that...

Regardless, you do not really need the initial records of your early interactions with Umarkets. What you do need is records that Umarkets has failed to give you the requested withdrawal. Are you able to call them yourself via mobile number? Or does the phone just ring for 3 - 59 seconds and then disconnect (like with us)? One thing you can do is to call them (and record it) and ask them who signed the terms and conditions? Make sure you insist that you were never informed of the terms and conditions before signing up (and record it). Send them lots of emails complaining about the poor service, no mention of terms and conditions and no withdrawals. Make sure you request a complaint reference number - in your email state that is the law to provide this number. If they fail to do this then this will strengthen your position with the bank.

Do not be bothered by the fact he is not trading in your account. In fact you should be happy Because means he can't play about with the settings (via your trades) and reduce your balance to zero ===> Thus making you look better in front of the bank.

Have you started recording everything like I had advised you previously? The sooner and more evidence you gather the better your likelihood of getting your money back. Just make sure that you portray that you are the victim and the unwise person (who did a terrible mistakes). Again this is meant in the kindest way possible

Bear something in mind: Chargeback are designed to favour you (the consumer). They are not designed to favour the scammers (aka "the merchant"). Hence why they exist. Remember that with each chargeback request the bank will place a penalty charge on the scammers account. If these scammers get enough chargeback requests from enough victims then the greater the penalty becomes and the bank accounts for these scammers will be closed permenantly. Once this happens these scammers will cease to exist and they have to start another scam company from scratch ===> This is what happened to vortex assets (hence why it no longer exists)

However, do not take this for granted you still must file a very strong case to your bank. If not they may not feel the urge to perform the requested chargeback (although they really should, there are some banks who may not want to initiate the chargeback request for whatever reason).

Good luck and all the best. Let me know if you need more help

Thank you.

Yes. I will not attempt trading or reaching the turnover n my end. Specially that I do not know anything about it. The account manager will call me again on Monday. This time, he said he will walk me through the platform. But no, I wont do that. I know its a bait i will record our conversation and follow your advices.

I have just started recording our phone conversation recently but not the ones wherein we discussed about the bonus. The ones that i have recoreded were those when we started arguing again when he insist to add up more investment. On monday I will record everything.

The documents that i have submitted were my credit card, 2 ids, proof of residence and a contract. (i was do damn to sign it) real terrible mistake indeed.

However, I am very much happy for having someone who understands my situation and gives advices on what to do next.

Would it be possible or advisable if during the call I will ask my manager for me to speak with their supervisor? Or is it a wrong move instead and will just trigger them to do the worse possible thing they would do on my account/money?

 

[TeEarl]

I actually asked my bank and this is their reply:

This is to acknowledge receipt of your e-mail.


Please be advised that for any concerns related to your investment with Umarkets, you will have to coordinate with them directly for assistance.

 

[TeEarl]

I will make this very clear: Do NOT even attempt to reach the turnover. Why? Because firstly, you lack the experience and knowledge how to trade (by the looks of it). Trading requires weeks, even months of studies and dedication to finally master a strategy that works for them. You will need to watch a lot of YouTube videos (from a number of different channels), read PDFs and other documents just to ensure that you are able to make a decent profit. The majority of trades on regulated brokers lose money because they have not put in the time and effort to finally master FOREX trade (and quickly give up).

Secondly, as soon as you start trading these scammers will cut the sever so that you cannot modify trades or close them in profit. Once this has happened your account will be "blown" (or so you think) and your account balance reduced to zero (despite the fact that no money was ever in your account to begin with). This is done especially to prevent you from getting your money back once you request a chargeback from the bank. They will mostly likely say to the bank: "This individual has executed careless trades and lost all their money, so it is their fault". It's a dirty trick, so do not fall for it.

What documents exactly did you sign? Please do not post them on here - rather private message it to me if you wish.

To sum it up: Do NOT trade on that Umarkets account as they will cripple you by doing so and you will lose every last penny in that account for good.

Only trade using legal, regulated brokers from your own country.

Can you not go to your telephone provider (e.g. vodafone, O2, EE etc) and ask them for a recorded conversation of your earlier interactions with Umarkets? I know someone who was able to get a hold of that...

Regardless, you do not really need the initial records of your early interactions with Umarkets. What you do need is records that Umarkets has failed to give you the requested withdrawal. Are you able to call them yourself via mobile number? Or does the phone just ring for 3 - 59 seconds and then disconnect (like with us)? One thing you can do is to call them (and record it) and ask them who signed the terms and conditions? Make sure you insist that you were never informed of the terms and conditions before signing up (and record it). Send them lots of emails complaining about the poor service, no mention of terms and conditions and no withdrawals. Make sure you request a complaint reference number - in your email state that is the law to provide this number. If they fail to do this then this will strengthen your position with the bank.

Do not be bothered by the fact he is not trading in your account. In fact you should be happy Because means he can't play about with the settings (via your trades) and reduce your balance to zero ===> Thus making you look better in front of the bank.

Have you started recording everything like I had advised you previously? The sooner and more evidence you gather the better your likelihood of getting your money back. Just make sure that you portray that you are the victim and the unwise person (who did a terrible mistakes). Again this is meant in the kindest way possible

Bear something in mind: Chargeback are designed to favour you (the consumer). They are not designed to favour the scammers (aka "the merchant"). Hence why they exist. Remember that with each chargeback request the bank will place a penalty charge on the scammers account. If these scammers get enough chargeback requests from enough victims then the greater the penalty becomes and the bank accounts for these scammers will be closed permenantly. Once this happens these scammers will cease to exist and they have to start another scam company from scratch ===> This is what happened to vortex assets (hence why it no longer exists)

However, do not take this for granted you still must file a very strong case to your bank. If not they may not feel the urge to perform the requested chargeback (although they really should, there are some banks who may not want to initiate the chargeback request for whatever reason).

Good luck and all the best. Let me know if you need more help

I actually asked my bank and this is their reply:

This is to acknowledge receipt of your e-mail.


Please be advised that for any concerns related to your investment with Umarkets, you will have to coordinate with them directly for assistance.

 

[Abs1616]

Thank you.

Yes. I will not attempt trading or reaching the turnover n my end. Specially that I do not know anything about it. The account manager will call me again on Monday. This time, he said he will walk me through the platform. But no, I wont do that. I know its a bait i will record our conversation and follow your advices.

I have just started recording our phone conversation recently but not the ones wherein we discussed about the bonus. The ones that i have recoreded were those when we started arguing again when he insist to add up more investment. On monday I will record everything.

The documents that i have submitted were my credit card, 2 ids, proof of residence and a contract. (i was do damn to sign it) real terrible mistake indeed.

However, I am very much happy for having someone who understands my situation and gives advices on what to do next.

Would it be possible or advisable if during the call I will ask my manager for me to speak with their supervisor? Or is it a wrong move instead and will just trigger them to do the worse possible thing they would do on my account/money?

Yes, you can ask your manager to speak with their supervisor - please just make sure that it is recorded

 

[Abs1616]

I actually asked my bank and this is their reply:

This is to acknowledge receipt of your e-mail.


Please be advised that for any concerns related to your investment with Umarkets, you will have to coordinate with them directly for assistance.

Sorry, I don't quite understand this. Does this mean that you have already initiated the chargeback request with your bank?

 

[Abs1616]

Thank you.

Yes. I will not attempt trading or reaching the turnover n my end. Specially that I do not know anything about it. The account manager will call me again on Monday. This time, he said he will walk me through the platform. But no, I wont do that. I know its a bait i will record our conversation and follow your advices.

I have just started recording our phone conversation recently but not the ones wherein we discussed about the bonus. The ones that i have recoreded were those when we started arguing again when he insist to add up more investment. On monday I will record everything.

The documents that i have submitted were my credit card, 2 ids, proof of residence and a contract. (i was do damn to sign it) real terrible mistake indeed.

However, I am very much happy for having someone who understands my situation and gives advices on what to do next.

Would it be possible or advisable if during the call I will ask my manager for me to speak with their supervisor? Or is it a wrong move instead and will just trigger them to do the worse possible thing they would do on my account/money?

My pleasure

If you need anymore help you are always welcome to post something up here

At least our public conversations will hopefully be helping others scam victims as well