Citrades.com Review
CLICK HERE to read the final judgement against Jason Scharf and his massive scams. Victims of Jason Scharf's scams will also find contact info for the court appointed receiver in this document.
CFTC Complaint Charges Numerous Companies, Including CIT Investments LLC, Brevspand EOOD, CIT Investments Ltd., CIT Investments Ltd., and A & J Media Partners, Inc., with Participating in Massive Fraud"
CLICK HERE to verify that Jason Scharf's web of scam was charged with Massive Fraud.
SCAM CONFIRMATION
May 2015: There are now 3 FPA Traders Court guilty verdicts against this company. The FPA now considers Citrades and all companies associated with it to be scams. The FPA recommends an against doing business with Citrades.com and any related companies unless all of these issues can be resolved.
The FPA is pleased that one of the 3 cases has been resolved. CiTrades still needs to get the other cases resolved.
SCAM CONFIRMATION
August 2014: CAUTION: The Terms and Conditions for Citrades allows the company to pay any withdrawal over 1000 USD, GBP, or Euros in monthly installments. There are other withdrawal restrictions inside the tems restricting withdrawals for certain account types for as long as one year. The FPA recommends extreme caution depositing any money with this company.
April 2014: CAUTION: There is an FPA Traders Court guilty verdict against Cititrader. The FPA recommends a high level of caution dealing with this company unless this issue can be resolved.
September 2013: CAUTION: Multiple suspicious and fake positive reviews submitted for CiTrades.
CAUTION: CitiTrader's Terms of Use specify a minimum $300 cancellation penalty for withdrawing any money deposited if the client has not traded. No maximum is specified. The FPA recommends against depositing any money with this company unless you are 100% certain that you intend to trade with them.
Recent User Reviews of Citrades.com
Total scam. Not registered in any way
Oct 14, 2014 - 2 Stars Not to be trusted. They will take your money as fast as they can but very slow at giving returns, if your lucky to get any at all. They like to threaten people with legal action when people are just asking for some of there money or questions about their "legal company". Laws are for stopping people from committing illegal activities; not to help them break them
Citrades.com is a SCAM. Please run away from them
A month ago (August 15 2016) I tried to log into my account and my password was not recognized. I tried to reset it but my user name was also not recognized either. I tried to contact my account manager (Alejandro Cardenas) without success. I sent lots of mails requesting to get in touch with him and I only received once a very short answer asking about the best time to call, to which I replied immediately. After that no further contact has been made. Every time I call there is an answering system that says "All of our agents are currently busy,. Please leave a message and we will call you back". Well, after several messages no one has called me back. The number I have called is +442 03582 9965.
I also tried the support chat, but they don´t even know what the are talking about, so no help there.
Now it looks like my USD26,919 are gone.
I have just tried to log into my account and finally I could, but guess what... My money was gone, balance 0, and more interesting, the banking section shows no records. WOW !!, these guys are just common thiefs claiming to be serious.
I am willing to give half of my USD26919 to whomever can help me get my money back.
I have screenshots of my balance before it went away, also of operations history, and finally a screenshot of my account today showing no balance and no history.
I also halve the mails received from my account manager before they decided to rob me.
Do I have some way to make pressure for this broker in situation like I m now ? Is it possible to pull out my money back from them?
CiTrades is a scam!!! I have a problem with them, I was stupid to trust this company and I was invested at all a 5000euro. I open an account with with one off CiTrade's website - autotradingbinary.com . I was tested a demo accunt with the same amount for a month and everything looks great, the amount grown double and the all employess and my financial adviser were very kindly and proffesionally. I was invested at first a 1K euro for a month and at this time the stats was growing well so I deposited another 4K euro. after 3 months I was allowed to make first withdrawal so I make order for a 500 euro payout.. Then the contact started to be hard. After almost to weeks they answer than the transfer was aprroved and the money should be for a max 7 or 10 days. Two months ago and a I still don't have any money from them. Now they don't answers the massagees and calls. Account ballance is still near 7K pounds yet but it systematicly falling down....
I Deposited $250 USD with this company. Before I started trading with them they requested my credit card (with the back too that allows you to print money from your credit account) and my drivers licence (Which allows them to commit identity theft). So I did research on them and long behold here I am. THIS COMPANY IS A FRAUD. I have now requested they return my money to my credit account 4 times with no luck. Because I have not allowed them to trade the money just sits there and they cant use it. I offered to visit their office to provide verification in AUS and was told they would kick my ass.
I really hope the authorities catch these criminals and put them in jail where they belong. How have they been allowed to operate this long and take so much from so many people. It needs to be stopped.
I checked citrades.com after I deposited $250. After a week trying to verify my account, I made it and was able to do some winning trades using myfirstonlinepaydaysystem, but all looked very artificial and I decided to cancel it all. I did not accept any bonus.
After that I am trying to do an withdraw without any success. I am contacting support and sending e-mails to all listed e-mails, but I am not getting a single reply and a single clear answer from the support. They just say: "Next week...". I do not have account manager (at least I do not know his name!?).
Do somebody knows what I could possibly do more?
So I went to citrades and asked for a Withdrawal of my funds; the first request was cancelled no reason way so I asked the accounting department for help Martha Smith was the one that responded. All my correspondence where nice and prompt
Martha looked into it at first she acted like she didn't know why then after my second request was cancelled she told me it was because I hadn't traded my account for 3 months I told here in a lot of emails that I didn't sign up to citrades directly but from another site, the only thing she would respond back was that it was in there terms I told her that being I signed up using another site I had no access to the terms. I wanted my funds back because I made a 500 usd investment and my line of work that is a lot of money. But anyways as far as citrades is concerned there terms are rock solid and wouldn't even help me, no special
exception or anything. This was in Aug./Sep. so I shelved this issue and let my money sit there on there site.
Fast forward, now tax season has arrived my tax man tells me that I need a 1099B form from citrades. So I started to the correspondence again, they went from being real prompt in there email responses to not getting anything from them. In the last week and a half I have sent a dozen messages from there web form on there site and direct emails asking when they will send and how will they send my 1099B form, I received only one response back from them in an email from Martha Smith telling
that I needed to log into there site to request a withdrawal of my funds which I thought was funny because that wasn't even
the current question I have for them at this time. Makes me wonder if they actually have any real people working there at all
So my goal now is to do the minimal amount of trading, I have one month down two more to go then I will start the process of
requesting a withdrawal and closing of my account. I can only hope it will work this time, and they don't come up some other reason to keep my money in that account. So if any one reads this please please do not I repeat do not sign up with citrades or any of there affiliates.