#55620
michal
Participant

Hi , time to report again

As stated here above, I felt in the trap of one Scammer. Invested 250EUR= ca. 270USD

They transferred the money (without asking me) to a new account  called “algo trade”.

After I recognized that they are a scammer (s. here above) and following the advises from Petko and this forum, I started/tried  many steps , like this:

1. I ordered a withdrawal of my investment (ca. 300 ) back to my credit card, but they did not fulfilled it: On my account /transaction history they put “pending” and after 1-2 weeks “Canceled”.

2. Then I started writing them  to all known Email Addresses, like “Customer service”, “Compliance”, Personal advisers etc.: They confirmed that my documents are OK and my identity is proved, “Claims ” etc.  . I tolled them that now -corona time- I have financial problems  and I need badly my money back, and I will be back, etc.. NO REACTION. Just computer answers, like “We received you mail and our customer support/personal manager will come back to you soon. Once they answered “As you are using a third party software, there is nothing which we can do” What does this mean?

3. Mean wile many mans called my offering me new deals and more to invest, but once I tolled them that I am waiting for my money back, they just closed the line.

4. Finally one guy tolled me that according to the special “automatic trading contract ” (which I ‘ve never signed), I need to send them cancellation notice and after 90 days they will close this account and send back the money.

5. What to do? I sent them the “90 days cancellation Note”. Since that time my tragedy has started. The Equity began  to follow down quickly. Today the Balance is 600 ( so they made  a reasonable profit in the last 3-4 months),  how ever there are many open trades with no S/L entries, with big floating Losses, like 25 to40 $, witch leads to a current floating loss of ca. -700 $ and the Equity shows -250.  So,  if the do with the same tempo, nothing will remain after 90 days the equity  may reach unlimited amounts.

6. I tried to  close some open positions/Orders : <Select/right click/market execution>  but nothing happened. Just Messages like “Your order is being proceeded” + “Time OUT”. So, it looks like I have no power to operate on this “Algo Trade”- Account. I am using the WEB platform, shall I try with the PC _APP which they offer to download too?

So, Can some body help me with some advises? Please?

A) How to understand the negative Equity? Do I own them this money? I have no credit line with them, but in the same time, I don,t know what is written in this “auto trade contract”, if there is such one al all.

B) Is it usual that one normal broker let you trade down to negative equity and that he requests the negative  amount. Yet they got my IDs and know my address.

C) Shall I block my credit card- the only payment instrument they know?

D) What else to do to protect and save  myself?

E) Is there  a official authority where to claim and ask for help?

Please, help me to escape.

Thank you

Stay healthy

MichalEquity