Charterprime
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Overall
My Story:
Wouldn’t have believed it didn’t happen to me personally.
2nd-Aug-2020:
• After being cornered by Charterprime’s high pressure sales tactics, I opened a Live ECN Account with them through their one of their accounts/sales manager.
• The accounts/sales manager stated that all trades through Charterprime go to its liquidity providers and assured me that they are a true STP broker and my funds are 100% safe.
• He stated that they are AFSL and FSP licensed and boasted Charterprime’s credibility.
3rd-Aug-2020:
• I deposited a portion of my savings to Charterprime through their 3rd Party Money Transferor in China and proceeded to trade on its MT4 making little profits and losses throughout.
27th-Aug-2020:
• There was big fluctuation on XAUUSD and I made significant profit during the evening of 27th. All trades were confirmed by Charterprime and returned as executed properly.
28th -Aug-2020:
• After the windfall of 27th’s evening, I proceeded to submit a withdrawal request on a portion of my winnings.
• However, I was later contacted by the accounts/sales manager stating that I have violated Charterprime’s terms and conditions.
• He, stating under the instruction of his company, tried to bargain with me to only withdraw a small portion of (just a bit over one-tenth) of my profits and close off my account.
• After refusing such ludicrous suggestion, the accounts/sales manager blocked me and I was unable to make contact with him or Charterprime again.
18th–Sept -2020:
• Charterprime announced that it will no longer be onboarding Chinese clients.
1st to 12th -Oct-2020:
• I contacted my friend in Australia to submit complaints, on my behalf, to the Australian and New Zealand complaints authority.
• However, he was subsequently denied of complaint because Charterprime claimed that I had an agreement with Charterprime Limited in St. Vincent and the Grenadines (SVG) instead of the entity in Australia or New Zealand.
• After extensive research, I was unable to find whether Charterprime SVG existed or not. Charterprime just pulled this entity out of thin air and submitted to the Australian and New Zealand complaints authority a SVG terms and conditions which they purported that I agreed to.
• They even had the grit to change all the website references to SVG and their registered address to Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont Kingstown St. Vincent and the Grenadines, a location where its owner indicated that was subject to heavy online misuse.
Present:
• I am at a loss for words…and don’t know what to do…Charterprime wormed their way out of being responsible for fraudulent actions.
Lessons Learnt:
• Charterprime heavily markets its Australian license to the Chinese/Asian trading community promoting funds safety, legitimacy and credibility.
• Charterprime hire staff with overlapping roles. E.g. a person can be both an accounts manager and sales manager, which means they are pressure clients as to get more turnover for their monthly bonus.
• Australian and New Zealand complaints authority will not accept complaints because Charterprime redirects all terms and conditions agreed digitally by the clients to a non-existent entity.
• Australian and New Zealand complaints authority will not to take into account the fact that most, if not all, of Charterprime’s backoffice are working out of Australia and New Zealand.
• Being on the other side of trade, Charterprime is both the opponent and referee and there is nothing you can do if they decide to take your money and not accept their losses.
• They shamelessly talk to the complaints authorities to shift their responsibilities to another jurisdiction to nullify the consequences of stealing clients’ money.
• They had the guts to change all of their website contents to SVG to further justify to the Australian and New Zealand complaints authority that they have no power to mediate the dispute between the client and Charterprime, and makes up a new Terms and Conditions because clients only digitally acknowledge them online.
• They predominately promote their AFSL license, but will onboard clients to another license with less strict rules of conduct as to decrease their regulatory responsibilities.
Cost of Trust:
• I’m both deeply hurt and very confused about Charterprime’s action. They present themselves as a leader of the forex industry, but it is only a facade of a series of dark and underhanded maneuvers to gain client trust and shift their regulatory responsibilities. They certainly do not make attempts to amend relationships.
• If I had violated the trading conditions, why were the trades executed and confirmed by Charterprime?
• If my trades were not legitimate, why was I contacted only after and the accounts manager, on the instructions of Charterprime, tried to bargain with me to withdraw one-tenth of the profits?
• Charterprime uses blatant high pressure sales tactics and promotions to bombard clients and gain their trust.
• You are only allows to lose your money with them…they do not tolerate winnings and certainly do not let you withdraw your profits. How else can they afford to sponsor airlines?
• They shamelessly shift responsibilities and change all compliance references to a non-existent entity and divert the Australian and New Zealand authorities’ attentions away from being held liable to their actions.
• I am very disappointed by Charterprime, this broker is a joke!
Overall
Hi Mr. Roegiest,
All our deposit and withdrawal methods are available on our website at this link - https://www.charterprime.com/en/pages/account/funding/fund-method.html.
Overall
Good evening, i'd like to know how ik can withdraw money from my account.
Can you help me out please?
Regards,
N. Roegiest
