Can't withraw funds from a broker. Help!
Member Since Feb 22, 2011
4862 posts
Mar 15, 2016 at 08:17
Written in the stone
peaceforexarmy.com is good for doing research before choosing a broker.
peaceforexarmy.com is good for doing research before choosing a broker.
Member Since Dec 11, 2015
1487 posts
Mar 18, 2016 at 11:01
Or google them at the very least. Or check whether the local regulator has issued any warnings against them.
Mar 18, 2016 at 22:20
iamgifted posted:go to this website and file your case
Please advice, because I don't know what to do with the broker I have.
I have trading account with www.stoxmarket.com
I have put there my funds in total of 3300USD and also received bonuss/credit in amount of 7500USD. I have been very successfull lately scalping DAX and my balance grew up to 14 000USD. Together with the credit my equity is around 21 000USD.
I want to withdraw the money, except the credit of 75000USD, but they don't let me. They say I have to trade certain volume to be able to withdraw the money.
There are 2100lots to trade till I meet the volume, thats pretty much and would take a long time.
Fact is, that Its really hard to do, because when I traded DAX successfully I had really low spread but now they changed it to 10 times higher. It's impossible to scalp.
Please support,
J
https://www.forexpeacearmy.com/community/pages/traders-court/
a pip a day, keep the doc away
Member Since Oct 08, 2016
58 posts
Jan 24, 2017 at 15:36
That’s the problem of market maker broker, they always suck trader’s money! By the way, I never used this trading platform but I seem, you need to contact with their support term again! If they are silent that means, you are not interested to complete this withdrawal! Then you may put consistent negative reviews about this broker with your evidence.
To change your trading result, just change your thinking.
Jan 25, 2017 at 07:56
iamgifted posted:
Please advice, because I don't know what to do with the broker I have.
I have trading account with www.stoxmarket.com
I have put there my funds in total of 3300USD and also received bonuss/credit in amount of 7500USD. I have been very successfull lately scalping DAX and my balance grew up to 14 000USD. Together with the credit my equity is around 21 000USD.
I want to withdraw the money, except the credit of 75000USD, but they don't let me. They say I have to trade certain volume to be able to withdraw the money.
There are 2100lots to trade till I meet the volume, thats pretty much and would take a long time.
Fact is, that Its really hard to do, because when I traded DAX successfully I had really low spread but now they changed it to 10 times higher. It's impossible to scalp.
Please support,
J
You should be using Exness, they said, is good, easy to withdraw funds
Jan 25, 2017 at 10:36
Try to withdrawal your initial deposit at least. Then try to reach their requirement with the profit and credit they added to your account. This is new MM broker if I am not mistaken and their aim is you to loose all your money (what they gives to you as credit is just virtual for them).
Feb 02, 2017 at 11:12
these kinds of broker really try to suck others blood. NEVER OPEN AN ACCOUNT WITH market maker, because fundamentally you are gambling with the broker, they don't send your order to the market, if you win, they lose. What kind of investment platform it is?? Why the government allow such loopholes and let many many trader/invester suffer? Try larger broker, research on DMA (direct market access) brokerage, research on user comments. BTW, you have a tiny bit of responsibility as well; why would you accept an 'account type' that will inject 7500USD bonus to you while your fund is only 3300USD, who in the world will give you 200%+ profit upfront and let you draw all the money? Sighhhhhhhh
Feb 02, 2017 at 11:26
talk to your brokerage to refund your 3300USD, forget about the profit or bonus. If they don't want to deal with you, start your action plan of publicizing the incident in EVERY leading web media such as facebook, twitter, fxstreet, and all investment related platform/blog; be careful and tactful (knowing it is you who missed reading the tiny text of 'conditions' in the T&A) to stay only how the tiny text tide you down with ALL the money...etc. etc. File a weekly report of how much you have done and cc the report to: their CEO, Investment Relations VP, financial authority in your country, consumer benefits/fair governing parties...etc., etc. do as much as you can.
Member Since Feb 22, 2011
4862 posts
Feb 02, 2017 at 11:28
plouiz posted:iamgifted posted:
Please advice, because I don't know what to do with the broker I have.
I have trading account with www.stoxmarket.com
I have put there my funds in total of 3300USD and also received bonuss/credit in amount of 7500USD. I have been very successfull lately scalping DAX and my balance grew up to 14 000USD. Together with the credit my equity is around 21 000USD.
I want to withdraw the money, except the credit of 75000USD, but they don't let me. They say I have to trade certain volume to be able to withdraw the money.
There are 2100lots to trade till I meet the volume, thats pretty much and would take a long time.
Fact is, that Its really hard to do, because when I traded DAX successfully I had really low spread but now they changed it to 10 times higher. It's impossible to scalp.
Please support,
J
You should be using Exness, they said, is good, easy to withdraw funds
Exness cannot be trusted
Feb 02, 2017 at 12:53
ALWAYS deal with broker who is regulated. This way you know there will be support who will help you if you are in trouble with the broker. If you sign the terms and conditions and the broker is not regulated – you have to hope for a miracle to get your money back.
Accept the loss as experience
Feb 02, 2017 at 12:53
You fell into their trap.
It's a marketing gimmick, not just them, maybe alot of unregulated offshore entity/brokers out there.
There's no free lunch, they did offered you more leverage power through bonus.
And it's all part of terms and conditions.
Now you suck thumb, keep trading until you hit that volume :D.
They just waiting for you to go greedy/fearful and tank 1 time when market spike against you.
- Counter party risk
It's a marketing gimmick, not just them, maybe alot of unregulated offshore entity/brokers out there.
There's no free lunch, they did offered you more leverage power through bonus.
And it's all part of terms and conditions.
Now you suck thumb, keep trading until you hit that volume :D.
They just waiting for you to go greedy/fearful and tank 1 time when market spike against you.
- Counter party risk
Feb 07, 2017 at 07:59
You really should have chosen a regulated broker. You should also check their license number in the website of regulation authorities. Try to avoid unknown broker.
I am trading with Hanseatic broker and found them okay so far. They are also CySEC regulated as you know recently this regulator became much stricter capping leverage at 1:100 (or 1:50) so I find my trading much safer now under them.
I am trading with Hanseatic broker and found them okay so far. They are also CySEC regulated as you know recently this regulator became much stricter capping leverage at 1:100 (or 1:50) so I find my trading much safer now under them.
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