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Ok, Petko, I see (forget about my last post 23:59)
I will close this story and don’t come back any more.
Thank you and good night
Michal
Hi, Can some body help me how to delete this fake account (s. my post of today here above)
Thank you!
Michal
Thank you aaronpriest,
in dead, I posted twice, but they did not come through.
Here is my post w/o pictures:
Hi , everybody,
Finally, my adventure is coming to the end, may be not entirety, but I am getting more confident to escape with the initial investment loss only (s. here below)
See here more reviews about this scammer <https://www.fxtradingrevolution.com/markets-online-review.html#>.
As of yesterday (may be since Aug 15th, because my FXBlue copier has not been refreshed since Aug 15th) their WEB site<www.markets.online.de> and all their Email addresses are closed:
My WEB platform with two accounts is also closed.
But their tel. Number in Sofia (+35924372490) still answers with “Markets . online” (yesterday – a Guy with clear German accent (Muttersprache)
So, my 250 EUR are done.
Frankly speaking I did not expect this so soon and I was afraid to loose more money then just 250EUR.
Here is why.
After I tolled them that I am going to leave, whic means: no more investments , just withdrawal what there is at my FX Algo trade account, they tolled me that it will take 90 days to stop the robot (Algo trading-third party software, which they can not control).
Since that time, my equity and floating profit/loss started going very quick to (big) minuses (s. screen here below).
There were still small profits coming out of the T/P parameters, but , because there was no S/L values, the floating loss became bigger and bigger: as of today ( 135 days after I started and 50 days after they made me to send them 90 days cancellation note) Profit (closed trade = $650, which is 240% for 4,5 months???, however Floating Loss = -$ 1550, consequently the Equity = -$900.
As I sat here earlier, at the beginning they deleted the trade with bigger losses (no S/L) , instate to book them to the trade history, so the account showed the profits only, but after my cancellation they let the negative trades stay (no S/L), so if some body decide to close this account today, there will be a remarkable negative balance.
And this is my concern: I blocked my credit card, but they know my physical address. So, are they capable and allowed to request this negative balance from me and (in worst case) to send me some “Russians”-collectors?
Please, Petko and every one, be honest and tell me every think (worse and good) what you know about such cases
Just for information, I wasn’t very passive in the mean time : I entered the account via a MQL 4-PC platform; I deleted all the Expert advisers; I downloaded scripts “close (all) open orders” and used them; I went to all the trades and tried to close them via menu, right click etc.; I tried to change every Order and activate S/L (stop loss); I deactivated “Auto trading “=red.
Nothing happened. No change. Every day new trades are opened and the negative trades stay there (no S/L).
So, their WEB-server-FX-Broker “markets.online” is closed but my account is not and it is still producing negative results.
How will this and? Can some body make me responsible for the negative balance of this fake broker account, which definitely was/is out of my control?
Thank you!
Stay healthy
Michal
Hi, I just posted a big post, with two attached pictures, but I can’t find it here? Is there some admin approval/filter?
I will repeat it, so please delete the one if some dublication
Thanks
Michal
Hi Petko,
Thanks for your prompt answer and the valuable advises.
Yes, I blocked my credit card and I am ready to forget about this loss (250EUR).
How ever there are still two issues which bother me:
1. The equity is going down to large negative figures, more larger then then 250. What if it comes to thousands? Can they request those bigger losses from me ?(yet they know my physical address). Can they send to me some collectors? What is the usual experience?
2. How to stop all this trades and limit them not to grow? I installed the PC platform MQL4 and there are a lot of tools to manipulate/control the trades. So, can you give me some simple tips how to stop those trades , all together , (better) one by one? What happens in I switch off the “Algo trading ” button (make it red). Does it stop the open positions?
I hope this is not too much to bother you and to waste your time.
Stay healthy!
Thank you!
Michal
[jankrafka] “can you share the name of the broker so we stay away from them?”
Thanks [Jakrafka]: I can share their name, but only after I get escaped from them. Other wise they may block my account and any payments because of contract violation.
May be I should block my credit card which would make any withdrawal returns impossible, because the CC is the only way for payments .
Still I am not sure. Does some one know how the could collect the negative equity/balance from me?
This the main question where I need help the fact thay my initial investment will be also gone. So sad….
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
Michal
Thanks Petko, I will try to withdraw, of course. But early Today they started another 6-8 trades, which show minuses (totally floating Loss by now ca. $90). This is not big deal – usually all new deals start with small minuses (correct??)- , but at the moment the figures are all minuses ( free margin:- $10 -s. screen here attached), so I think even if they proceed with the withdraw request normally, there will be nothing to take out. Unless I close all the trades (if they allow me) and consume the current floating Loss. But this may give them a red light and they may block my withdraw. Maybe I need to wait some time and hope to see better figures those days (as it was last Friday). I will report the result. So, thank you again : See U soon. Michal
Hi Guys, i am new here, but I will go strait w/o any introduction, because at the moment ,after I red this topic to the end, I think there is a situation with my (scam) Broker -trading account – the name I may share after I escape from then and get my money back – so, I need to act immediately and try to save my money as much as possible.
So, every think I red here, used to happen to me too. Here a short history:
1. I registered and got a trading account, I payed the minimum 259EUR=ca.270USD by credit card (otherwise there was no support , nor trading permit) , my personal manager (Senior Trading Manager) called me, gave me his Email for further communication and questions asking and we started trading. I rejected the Bonus (100%) in order to avoid the 3 Months restriction for withdrawals . I also send them the required documents to get certificated/approved for any withdrawals. So far, so good.
2. He tolled me not to touch anything , he will take care for me the first 3 months to show/demonstrate me how easy is to trade with their algorithmic software and make profit without doing anything.
3. The money was transferred (by them) to a new account (algo trading – Meta Trader 4) and I sow trades started by some one (Robot or my Manager -not clear ) and showing some floating Profits and Floating Losses which have moved with the Forex market curses. On the History Tab I also sow some profits (no losses), like 5, 6, 10 USD etc.
4. What surprised me that on no one trade there ware no S/L entries (stop loss), just T/P (take Profit). I asked my manager why, and the answer was ” we don’t need S/L, because they would produce real losses which we don’t like – only profits. (first signal for “something wrong “).
5. With the time, the floating losses became so big (-$12–$15) and they were so many, that my equity became close to zero . So, I ask again my manager what is going on, yet my money is away, but he tolled me not to wary because their “magic” software is going to delete such losing trades and my money is safe. In deed, one day ( and every time when necessary) the (big) negative trades were cleared – they just disappeared- but there was no booking /notes of them in the “History” . How was this possible and who payed those losses? This was the second signal for “something wrong “.
6. With the time the trades became so many and the negative (floating) losses also, which ended in the fact that, although there was a real profit of ca. 100 USD on my “history”, my equity is always very low ( much less as my investment) , so now I understand that I will maybe never able , even if they allow me, to withdraw my money , because, I guess, before I initiate some withdrawal, I need to close all my orders and the result will be very low (because of the pending floating losses to the sat pending trades).
7. Last Friday , after the market closed, I saw on the open trade list there is a (small) floating Profit of $5, balance and equity about $ 370 so , I believe, if I close immediately all the trades, I would be able to escape with a good amount, may be with profit too, provided that they will not create some additional restrictions to stop me.
So, please, help me what to do:
a) can I act right now ( Sunday afternoon , when the markets are closed), bu may be my broker would accept to close the trades and to initiate my withdrawal request, or it should be smarter to wait until Monday Morning ? The risk:When I wait, they may initiate tomorrow 01:00 another (new) trades with losses and my equity will go down again.
b) after I close those open trades and request withdrawal , shall I send them Emails to ask to transfer my money urgently, because I have financial problems (Covid 19 etc.)?
c) what, if they blocked my algo- account, not allowing me to close the open trades? Is there some hope to save the money in this case?
Thank you for you help in advance
Michal