1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

zulutrade scam!!!

Discussion in 'Scam Alerts' started by only 17, Apr 14, 2012.

  1. only 17

    only 17 Recruit

    Joined:
    Feb 14, 2012
    Messages:
    3
    Likes Received:
    0
    [langtitle=iw]zulutrade scam!!![/langtitle]

    i am zulutrade signal provider named as WISE TRADER i did request my money (zulutrade charges 2 pips from the trader 0.5 is for the signal provider 0.5 is for the affiliate and 1 pip for zulutrade)

    i did request 3 month ago my money, but after 3 weeks it was canceled saying cancled by user - i did never cancel it, than i did request it again but zulutrade doesent want to pay me, i am contacting tham by chat, they do promise to pay me - as today, till the end of the week, etc, but nothing seriously hapens
     
  2. yideng

    yideng Private, 1st Class

    Joined:
    Jan 13, 2012
    Messages:
    44
    Likes Received:
    0
    I really don't understand why zulutrade information is everywhere these days, can anyone explain in what the way they are running?
     
  3. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,658
    Likes Received:
    2,205
    I don't have the details, but I heard a few things about Zulu changing the rules on payments to signals providers. If I remember correctly, there are now some client profitability standards that need to be met in order to be paid.
     
  4. FxMaster

    FxMaster Lt. Colonel

    Joined:
    Oct 17, 2011
    Messages:
    6,851
    Likes Received:
    747
  5. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,658
    Likes Received:
    2,205
    That now says:

    New Update: April 13th 2012: So looks like ZuluTrade is not a scam after all.

    I was contacted by the head of ZuluTrade customer service. He is a great guy that managed to fix all my issues and pending payment was released.

    It looks like they might face delays because the new verifications that they do, so the round up time for issuing payments is now 45 days. Which is not so bad to be honest.
     
  6. Romeo

    Romeo Sergeant

    Joined:
    May 1, 2011
    Messages:
    239
    Likes Received:
    4
    Did you report it to CFTC? On their website, it mentions that they are registered with CFTC, so it is important that you report it.
     
  7. Romeo

    Romeo Sergeant

    Joined:
    May 1, 2011
    Messages:
    239
    Likes Received:
    4
    I checked their website again and their new policy is not to pay commissions, when the monthly profitability is negative. The only reasonable explanation for me, is because you currently have -2000 pips drawdown and your profit the past few months was 500 pips/month, they deduct the negative amount of the open orders from the closed orders and have a negative outcome.
    That should be the reason they do not pay your commissions. Didn't they mention that in their communication to you?
     
  8. Carrie Walton

    Carrie Walton Banned ZuluTrade/AAAFx Employee

    Joined:
    Sep 26, 2011
    Messages:
    20
    Likes Received:
    0
    of course they did mentioned it, just the chickehead lo**r provider decided to do it his own way.
    Just to clear out - it was well explained to both followers and SPs about the policy back in the beginning of November.
    Seriously, thank god this happened bc traders use to forget to close trades and then our accounts were margined-called. Since then I can say they are trading much more decent and improved.
    obviously he didnt make a claim since i doubt there is any ground to it - what he is going to say -"hey i lost money but still want my comissions even after i knew about the rule 4 months after?"...doubtful.
     

Share This Page