Hello,
I have requested a withdrawal of 4918.57 euro on the 20th of March. They subtracted the amount from my trading account. 4 days later they added back the amount to the trading account without any explanation. In the statement it appeared "Deposit Canceled Withdrawal" (statement attached). I tried to reach my account manager but he was unreachable. In their online support they could not tell me what was happening and they were suggesting me to contact my account manager. Which I was obviously trying to do without success.
During this period of time I continued to trade on my account with the remaining money and continued to gain. So I requested for another withdrawal of 4944.63 euro in the same day when they put the first amount back in my account. So in that moment I had 2 withdrawal requests.
On the 26th of March I have received an email from them saying that my account is under investigation for "suspicious activity" without any explanation of what that means (email attached). I contacted my account manager, Mr. Shawn Koopman and their support chat for explanations but the only thing they were saying me was that operations department is investigating my account and they cannot provide me any details and that I have to wait.
Finally on the 1st of April I have received an email from them saying that the investigations finished and that my account is fine and that they will send me the money from both withdrawals within 1 business day (email attached).
As I was continuing to trade on the account, on the 3rd of April they have completely blocked my account closing all my opened positions. I tried to reach Mr. Koopman for an explanation but obviously I could not reach him and in their online support chat they announced me that my account has been blocked for "inconsistent trading activity" and I should withdraw all my money and close my account. They also mentioned that the 2 previous withdrawal requests have been sent and I should receive my money in my bank account in a few days (chat transcript attached).
I requested obviously all my money from the account. On the 4th of April, as I did not receive the first 2 withdrawals I contacted them again. They confirmed me again that the money has been sent (chat transcript attached).
On the 10th of April, as I still did not receive any money I contacted them again. The account manager was again unreachable so my only option was their online support. I had again a surprise. They told me again there were some delays but that the money from the 3 withdrawals have been sent on the on the 8th and the 9th of April (chat transcript attached).
On the 11th of April as the money didn't arrive yet in my bank account, I was really worried about this situation and contacted them to ask for a confirmation from the bank that they have really sent me the money. The guy told me he will send me the swift receipt in some hours(chat transcript attached). As I did not receive any bank receipt, I contacted online support again 2 times and in the end getting the answer that management did not approve yet the transfers (chat transcript attached). At that moment I was lost...
I have filled a case with Financial Services Ombudsman.
From that time there were no more news. The account manager is unreachable, the online support keeps telling me that I have to wait (chat transcript attached)
I have to mention that I was not trading during news. I am trading a grid system based on technical analysis support and resistance levels. Obviously I am not scalping.
My account manager is Mr Shawn Koopman and his official email is S.Koopman@avatrade.com
As the maximum number of attachments in FPA is limited to 5, I have attached 5 files.
I have requested a withdrawal of 4918.57 euro on the 20th of March. They subtracted the amount from my trading account. 4 days later they added back the amount to the trading account without any explanation. In the statement it appeared "Deposit Canceled Withdrawal" (statement attached). I tried to reach my account manager but he was unreachable. In their online support they could not tell me what was happening and they were suggesting me to contact my account manager. Which I was obviously trying to do without success.
During this period of time I continued to trade on my account with the remaining money and continued to gain. So I requested for another withdrawal of 4944.63 euro in the same day when they put the first amount back in my account. So in that moment I had 2 withdrawal requests.
On the 26th of March I have received an email from them saying that my account is under investigation for "suspicious activity" without any explanation of what that means (email attached). I contacted my account manager, Mr. Shawn Koopman and their support chat for explanations but the only thing they were saying me was that operations department is investigating my account and they cannot provide me any details and that I have to wait.
Finally on the 1st of April I have received an email from them saying that the investigations finished and that my account is fine and that they will send me the money from both withdrawals within 1 business day (email attached).
As I was continuing to trade on the account, on the 3rd of April they have completely blocked my account closing all my opened positions. I tried to reach Mr. Koopman for an explanation but obviously I could not reach him and in their online support chat they announced me that my account has been blocked for "inconsistent trading activity" and I should withdraw all my money and close my account. They also mentioned that the 2 previous withdrawal requests have been sent and I should receive my money in my bank account in a few days (chat transcript attached).
I requested obviously all my money from the account. On the 4th of April, as I did not receive the first 2 withdrawals I contacted them again. They confirmed me again that the money has been sent (chat transcript attached).
On the 10th of April, as I still did not receive any money I contacted them again. The account manager was again unreachable so my only option was their online support. I had again a surprise. They told me again there were some delays but that the money from the 3 withdrawals have been sent on the on the 8th and the 9th of April (chat transcript attached).
On the 11th of April as the money didn't arrive yet in my bank account, I was really worried about this situation and contacted them to ask for a confirmation from the bank that they have really sent me the money. The guy told me he will send me the swift receipt in some hours(chat transcript attached). As I did not receive any bank receipt, I contacted online support again 2 times and in the end getting the answer that management did not approve yet the transfers (chat transcript attached). At that moment I was lost...
I have filled a case with Financial Services Ombudsman.
From that time there were no more news. The account manager is unreachable, the online support keeps telling me that I have to wait (chat transcript attached)
I have to mention that I was not trading during news. I am trading a grid system based on technical analysis support and resistance levels. Obviously I am not scalping.
My account manager is Mr Shawn Koopman and his official email is S.Koopman@avatrade.com
As the maximum number of attachments in FPA is limited to 5, I have attached 5 files.
Attachments
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10-04-2014 - they declared the withdrawal has been sent.pdf15.4 KB · Views: 15
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04-04-2014 - they keep time.pdf17.4 KB · Views: 9
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01-04-2014 - investigation finished.pdf97.3 KB · Views: 8
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26-03-2014 - communication from ava - account under investigation.pdf158.2 KB · Views: 9
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Statement_ 6214701 - viorel.pdf851 KB · Views: 12