Warning do not deal with netotrade



I would like to warn the whole world about a company ‘Netotrade’ I have lost AUD$105 237.60 to these scammers, please read what happened below:
Netotrade as an online trading company approached me back on the 8/10/2014 telling me all the good Netotrade does and all that they can do for me and all they wanted was USD50 000 and they would double my money and more on a very low risk platform.
So on the 8/10/2014 I advised them to take USD$50 000 off my Debit Card and they did this in 10 lots, they promised that this would not cost me anything in bank or transfer fees – This in fact caused me HUGE fees totalling thousands of dollars of which I raised with them and they advised me that they would credit my account with those $2700 fees in trading money, and they did so.
The next day or so I got an email from Sandy Ross in the Compliance department – She asked for me to scan in my driver’s licence and Medicare card and Debit card I was using – Front and back, and to sign the form 10 times for all the transactions that I made the few days before – WARNING – DO NOT PROCEED with this.
After 30 days (November) they did in fact increase my money to USD83000, and from then on it started sliding backwards - Then I had the dealer Eddie Cooper on the phone to ask for more money to recover the account promising that he will have it recovered and back up by Christmas, I obliged and let him take another USD25 000 off my Debit card – From this date the account only got worse! - This was supposed to be low risk account?! As displayed and advertised on the Netotrade website. WARNING DO NOT DEAL WITH NETOTRADE
I escalated this to management of Netotrade, being Izzet Kamer - He then started telling me that this loss wasn't his or Netotrade’s problem and that I needed to put more money into the account so that he could start building up the funds - On this score I totally lost it with him and demanded that he recovers some of my money - He said he could do nothing without money. – another WARNING DO NOT DEAL WITH NETOTRADE
After this; my uncle kindly placed about USD15000 into my Netotrade account to assist Izzet to start recovering some of the money – As soon as the money was received Izzet lost the lot and now the account is in negative.
After disputing all transactions with Netotrade I had a few calls from Naomie Brooks in the compliance area to advise that they would reimburse me USD$20 000 as Netotrade money and I was to work the trades on my account – So they are admitting that they don’t know how to trade – WHAT are these people doing as supposed ‘traders’? WARNING DO NOT DEAL WITH NETOTRADE

In assessing Netotrade on the Internet I find this company as a totally fraudulent company having conned people into giving them thousands of dollars with NO return.
On the front of the Netotrade website states:
‘Your money is safe with Netotrade’ – My money was far from safe – in fact I lost the total of a house deposit that I had spent years to save!
‘Knowledge is profit’ – This statement is total fraud! I challenge ALL the trading staff at Netotrade as be totally unskilled and unable to trade in the market. How could Eddie be called a Senior Account Manager and Izzet be called a Senior VIP Account Manager and Head Analyst when they lost all my money – and not only mine but USD200 000 of my uncles money as well?

They are now not answering any emails.


Don’t even talk to these traders:

izzet.k@netotrade.com Izzet Kamer
eddie.c@netotrade.com Eddie Cooper
naomie.b@netotrade.com Naomie Brooks


Read previous stories below:
FCA warning regarding NetoTrade - The FX View
NetoTrade Review - Forex Conclusions
fca warning about netotrade - Forex Conclusions
Netotrade Scam Review
netotrade.com Review & Complaint : - Scammers are Making Issues with my Trading Account - Tr..
Website: NetoTrade - Online Forex Trading
Year since: 2010
Headquarters: Cyprus
Company registration: NetoTrade Global Investments Ltd, Cyprus
Regulation: not regulated

This is a very good example on why Traders should refrain....or better still, stay way away from unregulated broker because there is absolutely nothing you can do to recover your money. No Regulator(s) to report to, and any bad reviews are ignored because the scam broker can and will most probably close shop, change name and do it all over again.

Try reporting to your bank/credit card provider/whoever-you-fund-your-account-with and hopefully you can at least recover your initial deposit money.
Go to top of page under "Traders Court", select "Hot! Scam Alerts Folder", click on "Sticky: Have you been scammed? How to complain manual!" and follow the instructions there.

All the best of luck in your case!
@zumk this is a very good example on why you should learn how to trade the forex market yourself and not allow someone else to do that for you.
100% returns can be achieved within a 1-2 months period of time with relative safety.....it's the after 100% profits when greed and impatience kick-in that usually gets the account into trouble.
I am writing from both good & bad experiences.