January 20, 2014 SCAM ALERT
There are 3 FPA Traders Court Guilty Verdicts against NetoTrade. The FPA now considers NetoTrade to be a Scam broker.
The FPA advises AGAINST opening an account with NetoTrade. If you have an account with NetoTrade (شركة نيتوتريد), the FPA recomments that you try to withdraw all of your funds immediately.
The FPA asks that NetoTrade's employees in Cyprus and Israel stop trying to post reviews while pretending to be customers.
|Minimum Trade Size:||0.01|
|Minimum to Open Live:||$500|
|Contact:||firstname.lastname@example.org, + 44-2080893679|
|Trading platforms:||MT4, WebTrader|
|Web Trading:||✅ Yes|
|Mobile Trading:||✅ Yes|
|CFD:||(50+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities|
|Deposit Methods:||Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, CASHU|
|Withdrawal Methods:||Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, CASHU|
Recent User Reviews of NetoTrade.com
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.
WARNING DO NOT DEAL WITH NETOTRADE
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.
WARNING DO NOT DEAL WITH NETOTRADE
Don’t even talk to these traders:
email@example.com Izzet Kamer
firstname.lastname@example.org Eddie Cooper
email@example.com Naomie Brooks
WARNING DO NOT DEAL WITH NETOTRADE
I am spreading word about this and I am happy with the customer support received from Netotrade.
Keep up the good work !!!!
I don't think this is a scam site
I posted a bad review about netotrade last months. The issue has now been resolved. Netotrade has returned my money back to me and both of us are happy at the end
2014-09-28 1 Star Hi
I started trading with netotrade second week of August 2014 with 400 euros, and after two weeks I added 3,900 euros more to my account making a total of 4,300 euros. I entrusted my account to Alan Levin, who boasted to me that he would make me lots of money with his wealth of experience, I believed him and explained to him that I am a student and I had to loan the money I used to trade with netotrade from the bank and would have to return it by the end of September.
True to his word, the first week of trading saw that my initial money tripled in size and all this time Alan kept telling me to pump more money into my account and to notify him whenever I was about to withdraw any money from my account, little did I know that he was plotting my downfall.
The first time I suspected fowl play in my account was when Alan opened three trades simultaneously and under 10 minutes I lost about 4000 k and from then up until now my money has gone from 14,000 euros to less than 700 euros. I also noticed that Alan would deliberately open multiple trades that were losing at very rapid rates and would deliberately leave it. This went on until my husband decided to check on my netotrade forex account seeing that I was a novice and stopped all trades immediately he noticed what was going on. Alan again called me when my account was about 2500 euros balance and managed to convince me to let him keep trading on my behalf after I cried and told him that the money was a loan from the bank and I just wanted to make my initial money back and did not care about profit anymore. After this he told me a day later that he was travelling and has left my account for another, all this while he still kept asking to put in more money. Now almost all my money is gone, I am devastated and very angry, and I appeal to netotrade to please refund all of my money because I know my money is lying somewhere and has not just vanished into thin air.
For your information I am ready to go to any length to bring netotrade down if my money is not refunded, I spoke to Mr Masrawi, who had a similar experience to mine and whose money you have refunded and he told me this about netotrade:
Netotrade is unregulated
Netotrade do not operate from UK
Netotrade address in bank transfer is located in country called Belize
Netotrade have scammed many people in the same way
Netotrade have many guilty verdicts in FPA
I have a same experience. I lost almost $ 4500 USD. I'm also student and borrow money from my friends. Alan Levine is a terrible guy. Don't trust this company....they are making foolish to everyone.
I always get service representatives who are very patient and seem to be very knowledgeable.
They have some great articles on how to trade, the whole academy section in the site is very helpful.
I tried their mobile trading app- android, not iphone.
Through the app you can receive signals and SMS with daily analysis..
and I’m trading on the go – I dont have to be logged in from home.
And because it’s daytime, the important markets are all still open, and I don’t miss out the chance to place my trades.
They advertise the same spreads and leverage as almost everyone else,
but there’s no hidden fees or awkward calls when you want to withdraw.
When I wanted to withdraw my earnings last week they said I need to submit my proof of identity papers.
I’d earned a lot of money over the past couple of months and I wanted it.
So I got the papers all together and uploaded them using my smartphone.
I got the money immediately after that, so I guess it was all for customer security.
Also, their web application is easier to use,
and it allows you to start trading immediately and concentrate on actual trading.
You can probably get any one of these anywhere, but they’re giving me all 3 together. I’ve been using MT4 for the past couple of months.
Before that I was using their in-house web program, which is great for beginners because it gives you everything you need (even charts and technical indicators) without scaring you with a cluttered screen.
There’s also a mobile app, but I prefer to be sitting down and taking my trading seriously. I’ve just upgraded to their ECN account so I can get direct access to major market players. You get spreads of 0.3 pips(!). I actually managed to hit a 30% ROI one month. I’m only sorry I didn’t start off here, because they have a really great collection of articles and videos. Even I keep picking up pointers.
The support people are really helpful and patient, and they have experienced brokers and economists on call 24/5. I don’t usually need much help, but they have actually called ME at least twice to warn me I was about to take a loss.
Really, Great job!