This is another example of half truth, being used to justify a complete falsehood. It is true I lost my job. It is not true I begged to come back, after I tried to close my account earlier this year after I attempted to withdraw the seed money for the account ($25000.) after Jake lost 10000. in a few minutes with trades that were made by an analyst that had no permission from me to trade my account.I immediately submitted a withdrawal request. It effectively takes the money out of the trading account, until the request is processed. I said he should cancel the trades and restore the 10 K back to the account. He said he could not do that, but that he would make it back. That did not sit well with me, because in order to do that 15 K would have to be put at risk. Jake has failed to leave that out of his response. I told Jake that I wanted my seed deposit money back, and they could trade the account with the balance, or I would trade it. Jake explained that he "they" (TRADORAX) would not allow their money to go out the door back to me. That was enlightening, that they viewed the profits as their money. That revelation went a long way in explaining to me how difficult it would be for me to get my money from TRADORAX. It became very clear that I would have to proceed with caution and try to ease my way out of entanglement with TRADORAX and it's employees.He said he would hand my account over to another account manager.A Tradorax employee replied to the original poster's complaint. Since he doesn't want to join the forums, I've posted his reply here and in the currently pending Traders Court case. Jake Taylor said...
Hello Bill,
I can only reply regarding John Gump's case since I was the handling broker.
Money was sent to John around 5 weeks ago as a wire (he received the confirmation via email), since it's delicate information, forgive me for not sharing it with you.
John lost his job about 6 months ago.
When he lost his job, he wanted to withdraw the entire account, was transferred to recovery to make sure he's sure by closing the account, then begged to come back working with me. Then he said the entire fiasco he created was to "just see what happens". Basically a waste of my time.
Now, we believe, since the money was sent back to him, he's making false accusations by asking us to send it again, in our eyes, he's trying to make a quick buck since he had no income for the past 6 months or so.
After John spammed both my Skype and Email, I've decided to block him.
This is my side of the case
That is when I became completely aware of how TRADORAX worked. Sam Stevens contacted me, and we discussed the bad trades and he agreed to restore them to my account, which he did. Good for me, I thought. He wanted me to allow him to use their PMM trading strategy to trade the account, but in order to use that strategy effectively I would need to cancel the withdrawal request so all the funds would be in the account. PMM is progressive money management. When A binary trade is initiated for a short time frame (one minute) and fails, another trade is executed at expiry for 2.5 times that amount, continuing until the trade is profitable. They justify the extreme amounts that need to be traded saying that the trade will turn back in the direction and become profitable. That the trend never exceeds 7 entries based on their experience. I said I was not comfortable with that method and did not want to authorize that, and I would not be withdrawing my request. Then a young fellow named Marcus called me and tried to hijack my account. I reconnected with Jake and asked him to help me get my money, that Marcus was a terrorist. He said he would get his boss Mark Stern involved that he would be the one to take care of the account. Mark called a couple of times telling me what he would do, but I would need to cancel the withdrawal request. I required him to explain what exactly he had in mind and that I would not cancel the request until I knew what direction he had in mind. The next morning I opened my account to see there were 10000 K in unauthorized trades placed on my account. I immediately sent this email:
John Gump <john.gump3535@gmail.com>
27 Jul
to Mark, Verification, Dean, Jake, support
INCREDIBLE.
I say leave my account alone, do not trade it and what happens.
You don't do as I instructed. You have hijacked my account again and you are hell bent on trading it to nothing. You are all thieves.
You are Cowards of the lowest order, and any bad thing that happens to you or your families is deserved.
I demand that you stop stealing my money. I forbid you to trade my account.
Mark Stern went into my account overriding my password, canceled the withdrawal request, and traded 30 K over the course of a couple hours while I was sleeping.
That is when Jake called me and asked me what the hell was going on? I told him Mark Stern had cancelled my withdrawal and had traded the account without my permission. That there were 10 K in losing trades, already, and another 20 K in long term trades, which will finally expire 11/30/16 O T M. That my account had been hijacked by Mark Stern, and that I wanted Jake to take the account back and be the manager over it, so I could maybe get my money later. Jake was not aware that Mark had traded the account like that, and of course apologized for everything, but the trades could not be reversed, but he could make it back. He agreed and took the account over assuring me that I would only talk with him from then on and no one else would have any influence over the account. That he would personally make sure I would be able to withdraw my money, if I wanted to and in fact I could do that at that time, if I so desired. He went on to say that he despised Mark Stern and said F*** Mark Stern. That he (Jake)was not like him (Mark).
I will say that I had dealt with Jake for a long time over many months and he did add to the account as he said he would. I had come to trust him, but the second time extreme losses incurred due to an analyst I knew I needed to withdraw my deposits. The analyst trading the account had happened before, and I told Jake then that I only authorized him to personally trade the account. He agreed, and we moved forward, until the analyst lost 10 K.
Jake is the biggest disappointment, because I did trust him. He said we were friends and he would make sure I was taken care of as his friend, I believed him. Please do not admonish me for this lack of judgement on my part. I was lied to that is all there is to say about it. I was looking for a long term business relationship that would be profitable for me. I thought we had become friends during that time, the friendship offered by Jake was a lie.
I want to further add that there has been no wire transfer made to me. As I sated in my initial complaint there has never been any confirmation of the wire transfer from the sending bank to me provided by TRADORAX in spite of multiple requests at many different times before contact FPA.
You should have asked Jake to provide the wire confirmation number when you spoke with him, in order to have proof that a wire transfer was sent to me as he alleged.
As I pointed out the approval doc from TRADORAX is missing the routing number to my bank (BOA). The wire cannot be sent without the routing #.
No wire transfer has been sent to me from TRADORAX. I have never received the approved withdrawal request for the $31188.50.
I have never been able to contact the financial department directly, No one has ever supplied me the routing confirmation # so I can have BOA find it. BOA has tried to see if there was a transfer made for the specific amount that would have come into there wire transfer center. No wire transfer for that amount within $100 for the date of 10-7 or any other time through October 2016 or now. I have never received any transfer from TRADORAX. Wire transfers do not get lost. all the numbers of the sequence need to inputted correctly or the wire is rejected. So if there is any consideration that 1 number was inputted wrong that is false. that is the reason for all the sequence numbers. It is impossible to accidentally send a wire transfer to a wrong address. That is what Jake has said probably happened, but not to worry because if it didn't show up in my account that it would bounce back to them and they would send it out again. that is a complete fabrication. A wire is sent to a specific address and account number with a specific routing #. Once it has arrived at that address it will be moved into the final account or retrieved by the recipient. After it has been deposited in its final destination or removed, it cannot be retrieved.
I have explained that in emails to TRADORAX so that they could initiate a trace on the wire transfer. That is the process explained to me by BOA regarding wire transfers and how to track, trace, and retrieve them. TRADORAX had no interest in doing any of that saying if it did not show up it would came back to them and they would send it out again.
I said how would you send it out again? I would not be providing any new wire transfer details other than the ones I had sent that had been confirmed by BOA. That the wire transfer details I had sent from BOA are correct and that TRADORAX needed to send them via those provided details.
The fact is they have never provided the wire transfer confirmation #, They have never initiated a trace on the alleged wire transfer to retrieve it. There has never been any wire transfer sent to me.
It was 8 weeks 11/25/16 that the wire was alleged to have been sent. I have sent TRADORAX screenshots of my bank account showing all the transactions that have occurred in that account for October. There is no wire transfer received.
Jake is telling more lies, to deflect attention away from the truth which is that TRADORAX has stolen my money. Now he seems to be confusing you with half truths as if he is credible and I am not. I hope this further explains with facts that my claim is valid. Jake needs to join the forum so I can respond publicly to his lies. I am ready to do that with the emails and voice recordings of skype conversations etc.etc., as I have stated in my complaint. I am not trying to make a fast buck, I want my money that is left over from my account sent to me. It is just business. have him provide the wire transfer confirmation # that is issued for every wire transfer made. The number starts with the date the transfer was made (year,month,day). It is easily recognized.
If he calls again, conference me in. I know what to ask him to reveal his lies. he knows that, which is why he blocked me. he is unable to lie to me about the money he and TRADORAX have stolen.