UBOCapital - beware !

maduet

Corporal
Messages
111
I opened an account with UBOCapital in December 2015 with a small amount to start off with ($300) - just to see how things go. My account manager (Richard Edison) promised to manage my account and trade for me. It started off well and he brought my account up to $365 within a couple of weeks. Then all of a sudden he stopped. When after one month, I mailed him to ask whether he was still trading on my account, there was no reply. I tried again a week later: still no reply. Nor from the Support Department. So I wrote to Edison, asking him to open no further trades on my account and placed a withdrawal request - this was totally ignored.

During the following months I repeatedly placed withdrawal requests (for only my invested amount), and tried to contact the compliance department. They just ignored my e-mails and kept cancelling my withdrawal requests (all 4 !). Then suddenly I got a mail from Edison this week saying that he was going to place trades on my account (even though I had already expressly told him not to !). I wrote back again saying Please no more trades, I just want to withdraw and quit ! But he completely ignored this, opened several trades, most of which lost, wiping out a third of my account.

In my eyes these are downright scammers - not only do they never bother to reply to e-mails, but they completely ignore clients' wishes and don't let you withdraw your money. Their Support (online chat etc.) is absolutely appalling - if at all it can be called "support". So my advice to anyone who's considering "investing" their hard-earned money with these people: Stay clear and RUN AWAY as fast as you possibly can !
 

Pharaoh

Colonel
Messages
20,043
Deadlines vary by country, so do NOT delay. If you deposited by credit or debit card, contact the fraud department at your card's issuing bank. Explain exactly how UBO is not fulfilling the promised service of withdrawals and ask if a chargeback based on this fraud is possible.
 

holycow

Master Sergeant
Messages
294
I guess the fraud risk management unit can be helpful but not sure if they could be able to refund the payments as they might have a uniform policy for claiming the charge backs, but still it can be a good idea to contact the concerning bank.
 
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