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Zulutrade Signal Provider Payment SCAM!

Discussion in 'Scam Alerts' started by Trint Castle, Sep 30, 2011.

  1. Trint Castle

    Trint Castle Recruit

    Joined:
    Sep 16, 2009
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    Hello to all. I have recently had some success a signal provider on Zulutrade and made a very small profit as commissions (approx $185) but when I requested payment they declined the payment. Here is their explanation below:

    Dear Cable Trader Pro,

    We have detected a violation of Paragraph #4 of the Signal Provider Agreement stating that Signal Providers with inappropriate trading behaviors, such as having max draw down percent above 100%, or leaving open trades with larger than usual draw downs or if one or more of your trades reaches -700 pips, will not be compensated.

    Therefore, we inform you that you will not receive the latest payment that you have requested for this Signal Provider.

    We will again examine your performance when you request your next payment and decide whether you will receive it or not.

    You can view the Signal Provider Agreement HERE.

    If you have any questions, please contact support.

    Regards,
    Customer Support



    However, looking at my history, NONE of my trades meet the requirements listed in their "Paragraph 4" that would cause them to deny my payment. What this means is that they can arbitrarily decide on their on subjective reasoning whether to pay its signal providers or not. It's a shame that I would be rated in the top 250 signal providers by their own rating system and they decide not to pay me. What a shame! I have requested that they reconsider their decision, but I am not hopeful that it will be granted in my favor. I will keep you posted when they respond, but I caution all Zulutrade signal providers to BEWARE!
     
  2. FXeria74

    FXeria74 Recruit

    Joined:
    Sep 19, 2011
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    You should not have chosen so risky providers. I mean one does not need a financial education when you see the red sign that the correspondent provider is a reckless trader. There are many other good traders that do not go down by 700 pips!! it is like knowing somebody will rob you and you willingly give your wallet to them. I am sorry to say that but for choosing them you can only blame yourself. Also, as you say your case is not closed yet - so most probably you can get your 180 bucks. Zulutrade has nothing to do with your choice, on the contrary there are sooo many indications like -ranking, %dd, %win, trading time, followers, etc. you name it that tell you what to do and don't. ;)
     

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