www.traders-hideout.com - Delay in withdrawing funds


Private, 1st Class
My Complaint/Delay in transfer of Funds ($6.366.96):

My association with Traders Hideout (Forex Platform Provider) began early in 2013, after I re visited 'Forex' trading as an alternative investment. During the ensuing period, I had regular if not sporadic contact with the owner & developer of the Forex trading platform, Mr Mike Metheral Phd, a resident of Toronto, Canada. Some contact was made on Google+ (Audio/Video), whilst the remainder was made on Skype. Initially, I made a deposit of $2,000.00, which was followed by monthly contributions into the account. Total payments made into the account amounted to $6,650.00. All payments made through Pay-Pal. Only one withdrawl of money was made for $150.00 in August. I received this payment without delay, and followed quickly after initial request.

My complaint currently centers on a delayed "withdrawl of monies" request from my trading account through the company (Traders Hideout et al), originating on the 22nd of August 2013. This in effect, amounted to a closure of the account. At the time of filing this complaint on 22/10/2013 this process was in its' 9th week', and I consider that the delays are excessive, if not unethical. More recently, and in particular since 25/9/2013, communication has ceased as the company fail to reply to my emails. I have also been 'muted' on the Traders Hideout trading platform by removing me from several publicly accessible "chat" environments, which includes the all important 'Support desk". This latest attempt at 'gagging' me, coupled with delays, has accelerated my perception that all is not well with this transaction.

Communication with Company during period:
Up until the date of filing this report, I have naturally attempted to obtain a true picture as to the progress of the withdrawal process. This is a natural reaction to an already delayed affair which started in August. This was facilitated via email with the internal company accounting arm -THP accounting, and involved the passage of 16 emails from/to all parties. My emails were replied to by a person going by the name of "Emma". It has been my opinion that the length of time being taken to complete this transaction was above and beyond anything experienced with other companies in the past. It was also my perception that the reasons advanced by THP Accounting for the delays were insufficiently substantial, and I remained very skeptical on the accuracy of the reasons advanced. In fact, the company website under its' Deposit/Withdraw guidelines paints a very different picture.

Summary of reasons for delay contained in Emails from Traders Hideout:

1. Day 19 Thurs. 9/9/2013 - Due to Extended holiday after bank holidays running a bit behind on paperwork
2. Day 26/27 18 &19/9/2013 - Auditing dept have completed their process and submitted final report to Mike Metheral for approval, as he needs to approve the findings as well as the result of the report. Once Mr Metheral approves the audit report, transfer of funds will be initiated.
3. Day 33 Wed. 25/9/2013 -
" 1. Mr. Metheral has returned last night and is due back in the office later this afternoon.
2. Your paperwork is amongst the top priorities on his desk for review.
3. Although we understand your motive, we are truly sad you have taken the route with the OSC. (Ontario Securities Commission).
4. Until now, we have had impeccable record with all governing bodies. I will forward this email to Mr. Metheral to be included as part of the decision of the report."

Please note the reference to OSC on day 33 - this was their response to my contacting the Ontario Securities Commission in which I outlined my frustration with the company (not a complaint as such). Copy of the letter can be provided on request, but basically says he's unregistered for their purpose and no prosecutions have been made.


Informed Company (Traders Hideout) of OSC Contact:

On the 24th of September 2013, I notified Traders Hideout by email that I was essentially dissatisfied with the lack of progress. I also alluded to the fact that I had made an initial approach to the Ontario Securities Commission concerning the company, showing them the OSC response. THP accounting replied to me stating they understood my motive, but were truly sad that I had taken the route with the OSC.

Account Closure Process:

Monday 30/9/2013 - There is evidence on the trading platform that an "Account Closure Process" was commenced on the 30th of September 2013 which involved the deduction of bonuses, and leaving the net amount due. For all intent and purposes, examination of my account would suggest this remains in a situation of limbo and "under review".

Attempts to clarify/contact Traders Hideout/offer of mediation:
As per reasonable guidelines, after the communication blackout which commenced after email contact on the 25th Sept., I have in fact attempted to contact the company on 5 occasions. These being on the 9th (Skype), 10th (G-mail), 15th (G-mail), 16th (Support desk), and finally the 17th. of October, 2013 (G-mail). As can be seen, these requests or attempts to contact them were made through Skype, Gmail and a Trader Platform 'Support Desk' facility. No reply/response was received from any of those messages. However, the 16th of October contact was met with a prompt 'mute' of my support desk facility, and other member chats on the Trading Platform. The message I left was intended to solicit some sort of reaction, as I considered that communication had slipped away. Far from giving the impression that the 'support desk' was something out of the Marie Celeste, there was a miraculous re enactment of efficiency when pressed!, and I was duly excluded from those areas of the platform that I have already referred to.

Additionally, in my final letter of demand on the 16th of October, 2013, I did offer them an avenue of mediation. To date, no response has been received to that offer and funds remain outstanding.
Contact PayPal immediately. There are time limits for filing disputes, so don't delay.

After that, send an invitation to Traders Hideout to visit this thread and explain where your money is.
Thank you for that. Paypal on the face of it appears to be out of the equation as the last payment was made on the 1st August 2013, and possibly beyond their time limitation guidelines of 45-60 days I will send an invitation as suggested.

Since contacting you, I have interrogated my email headers more closely !. Far from being Canada or USA based as initially thought, the company have their feet embedded in Israel: Image-Forex Peace Army.PNG
All support emails and even emails received from Mr Metheral have their origins as above.

A lot of brokers who claim to be in other places are really in Israel.

Go ahead and contact PayPal. Those time limits seem to vary some based on the situation.
O.k. thank you for that. Pay-Pal notified but unable to really assist.

For the record I enclose the following attachments: 1) Account status after deduction of bonuses (don't know what the $10,000.00 reverse entry refers to)
2) Mute information box from platform after I commented on 'Support Desk'


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Appealing to PayPal sometimes does pay off.

Go ahead and send an email to Traders Hideout. Ask them to please come here and explain where your money is.
Have sent a reminder/invite today the 25th Oct. in addition to the original invite on the 23rd Oct. Copies attached.


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Yes, at least that is the 'wording' I used in the email (above). Is that the normal protocol ?