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  1. #1
    Rookie Member Kenny's Avatar

    Tradersking complaint - Kenny !!!

    I received a cold call in October from Joey Davis of TradersKing, who encouraged me to deposit money, promising a good return for my investment. I went along with his suggestion, and deposited $500 so that he could “show me” what he could do on the trading platform. He made a few successful trades which encouraged me to deposit more, and he eventually passed me on Michele Zappos who claimed that she was the Senior Trader, working between London and Amsterdam offices.
    As I had previously a bad experience with spam Binary Brokers, I wanted to see how things went, before I deposited any more money, but she wrote me an e-mail which she noted everything regarding my concerns, assuring me, at the end of the day I had full access to my funds, and that I could withdraw any, or all of my funds, at any time, and within 72 hours of my request. To confirm that the withdrawal system worked, I would also be allowed to “test” the system out by withdrawing some, or all of my funds after she showed me her skills at trading.
    My account built up gradually, and I made fresh deposits by being persuaded to give Michele the details of one of my credit cards, and of my debit card. Following two more withdrawals from my Debit card, I asked her to stop using it, as the remaining money was my day to day spending money, and for the next few deposits she used a Chinese company to remove funds from my credit card which carried high transfer costs. I found that they had also withdrawn funds from my debit Card, which I had forbidden, it was apparently “by mistake” but why they had my debit card number I do not know, but these funds were eventually returned.
    I had three other credit cards, and Michele attempted repeatedly to try to get me to give her the individual card details, as she assured me that she was “in” with the credit card companies, and I would benefit if I disclosed the card information to her. I resisted at that point, saying that I had not yet tested the system fully to be able to put my full trust in further investment. I could sense her frustration at not getting the information that she so much desired, and that was when I first began to get suspicious about her motives.
    Over the period, I deposited $21,294, but when I finally decided to see what was being said about Traders King on Google, I came across a YouTube video with one guy claiming to have been cheated by Traders King, refusing to return his money. Several other comments backed up his claim, despite Joey Davis commenting on the YouTube page claiming that the originator of the YouTube video was the real fraud.
    It therefore became imperative that I tried to withdraw some, or all of my funds, but when it came to discussing the withdrawal with Michele, she became very protective of the money that I had in there, and explained that if I withdrew more than $6,000 I would lose any “Merit Points” that I had gained to date with Traders King. No mention had been made of this earlier in our discussions, and she gave a very poor explanation of how I would “suffer” if I made a larger withdrawal, so it confirmed to me that it was going to be difficult to withdraw any more than the $6,000 that she offered, so I agreed to the $6,000 withdrawal, at least I was going to get some of my money back.
    Instead of the 48 to 72 hour return of my money, I had to prompt her several times, and eventually my withdrawal appeared in my account, after more than two weeks.
    Just after that, I was admitted to hospital and had to undergo an unexpected Angioplasty procedure where they inserted one stent, and opened up a restriction in another artery. I was shocked to receive a bill for $19,000 for my hospitalisation, which left me with little money in my bank, as I had been encouraged to deposit as much as I could into my trading account.
    I explained the situation to Michele, and she immediately changed from being the very nice person that she was whilst encouraging me to deposit more money than I could really afford, into a nasty person who accused me of backing out of our agreement to try to reach the $50,000 required for a Managed Account. I tried to explain that it was extreme circumstances, and that I would re-invest when I could afford it again, but she dismissed my comments, saying that she wanted no more to do with me, saying that she would return my money. She abruptly ended the conversation at that.
    It was 8th of December when I had to pay my hospital bill, and I was left in a position that I could not afford to send my family any Christmas money, and I could not send my wife her monthly allowance (with Christmas coming up!!) and I had no money left to spend on my day to day living, so I could not celebrate Christmas and had to eat the contents of my freezer to exist. It was that bad.
    After a few days, I checked my account, and saw that my money was still in my account, so I made contact with Michele on Skype and appealed to her to please release it because my financial situation was in dire straits. She replied that she was no longer dealing with my account as it had been passed on to a “Junior Broker” who would contact me. She could do nothing to help me. Needless to say, I was never contacted by the Junior Broker.
    A few more days passed, my money in the bank gone paying regular bills from my account, and the money, ($20,857) still in my account. I tried a couple of times going through the “withdrawal” procedure on the site, but each time my withdrawal request was cancelled. I appealed again to Michele, both on Skype, and by email, but she never responded again, despite the fact that I could see that she was online on Skype. I then appealed to Joey, on Skype and by email, but he also did not respond. I sent an email to “Support”, reporting the activities of Michele and Joey, but did not get any response either. Eventually I wrote to their head office in Antigua, once again explaining the situation, but dod not receive any acknowledgement of my letter.
    I then made contact with the City of London Police’s online Action Fraud and made a full report to them. They have advised me to retain any information that I have, so I have made screen shots of my account history, and have secured all of my emails, including Michele’s agreement that she sent me. Now, some 4 months later, I have not heard anything from Action Fraud, so I presume that they have not taken it any further, despite tradersKing London Offices being on their beat.

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  3. #2
    Solid Member Daniel Rea's Avatar
    Mate, I am really sorry to read all this. I hope everything works out in the end. Please keep us updated.

  4. #3
    Junior Member rubydragon's Avatar
    Wow what a sad story. Being stolen is never nice no matter what it is. The amount they are keeping is really high though. I hope it will end in your favor. I've had such a kind of experience with my broker as well. I wonder how such companies can still live after even one story of that kind. Police and fraud department should be all over it.

    As last resort, I would try to get in touch with medias. If your story is ending on TV, things will most likely start moving your way.

    Anyway, keep us posted.
    Last edited by rubydragon; 05-13-2015 at 06:51 PM.

  5. #4
    Legendry Member Michael Hodges's Avatar
    no doubt, I hope this all works out. Is tradersking a UK based broker?

  6. #5
    Legendry Member Michael Hodges's Avatar
    Did you ever tell your bank to stop the withdrawals? What about th credit card company?

  7. #6
    Master Member SeasaltMcFish's Avatar
    That's really sad man! Shocking!

    Guess you should go on pounding on them again and again, making clear this is not going away and also do that to the fraud squad.

    Don't forget to write in Skype and mail to support that you made your complaint here too, showing them in a bad day light to every serious looking trader.

    This is one reason why I never put much money in my account, only what I need for some trades. Also never fall into the managed account trap, since it will cost you only more.

    Wishing you best of luck getting your money back and don't forget to mention this again and again until it is solved.

  8. #7
    Junior Member rubydragon's Avatar
    I think you have just a couple days to cancel a transaction from your credit card. He probably started to have issues with them much longer after that delay. How come so many brokers have such a reputation? They're dealing with huge amount of money. They have employees and all... How come police and fraud department are not closing such companies right off the bat?

    I noticed that most brokers are from UK and most scammers are from that area as well...

  9. #8
    Legendry Member milos's Avatar
    I was called by one broker today. It was cold call. By the away a dozen of brokers have been calling since 2010 year.I was a victim 2011 by one forex broker. Today it was called by viber. How did they find me,I have no idea.I asked them,answer was:"Our Marketing Department and Affiliate Department.
    I'm sending email I've got it today. If moderator thinks to delete let delete.

    Dear Milos,

    Greetings,
    Hope You are doing fine!

    As per the telephonic conversation, I am sending you the corporate profile and Track-Sheet of Past performance for your reference.

    Marketlive365 is a leading Global Market Research Company, provides customized guidance and recommendations to dedicated full time and part time traders. Marketlive365 provides services in FOREX, COMEX and International STOCK (US, UK, HK) Market. We have offices in US, Singapore, India, which are offering services across the Globe!!

    Please find the enclosed Company Introduction and Past performance data.

    Kindly provide your feasible time to take the conversation further through telephone. Also, we can continue our conversation through mail.

    Facebook Link:- https://www.facebook.com/liza.sanders.77

    For more details, visit us at http://www.marketlive365.com

    Looking forward to hear you again!

    Thank You!!

    Best Regards,
    Liza Sanders.

    UK Phone No: +44 203 026 1627

    UK Toll Number: 0 808 189 3124

    Skype Id: marketlive

    Email Id: liza@marketlive365.com

    Website: www.marketlive365.com

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  11. #9
    Rookie Member Xeno's Avatar
    I am shocked... How is it even possible? Maybe you should try to get some evidence, record calls and take bank bills to pute the case to the court. What they done to you is just an impudent fraud and it should be punished by prison.

    But I cannot also belive how a man can trust anyone from the internet by making shady business and even provide all of the personal data and credit card numbers. That could have been avoided because it was suspicious since very start...

    Nevertheless, I hope that the matter will end well for you and you will get your money back.
    Hold on



    I have also a question for a more experienced mates. Do you know where I can find some serious readable regulations and laws about the brokers?I guess that every broker subject to some european or national law. Does the company subject to the law of the country where it was founded or some mayor restrictions?

  12. #10
    Master Member Bogdan G's Avatar
    Why believe everything you hear?
    Why your cards are not 3D Secure?
    Why dont u have a PIN?
    Why no password?
    Why give money to unknowns
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

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