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  1. #1
    Veteran Member randy1953's Avatar

    Warning about Tradoraxnot a broker to be trusted. !!!

    Below is a letter I sent back to the CO of this company. Please think before you use this broker they treated me like crap and broke our agreements.
    Randy


    Hi my name is Randolph Muscarella since this article is about Binary options it is only fitting that we give a warning about certain scams that brokers do.

    This happened to me with Tradorax. Tradorax is a broker that accepts US clients. Now because of certain laws in the US there are not many brokers to choose from. but please be warned Tradorax is not a broker to be trusted with your money.
    I called and talked to a account manager David Kuhn about opening a account with them. As I was ready to fund my account David told me that their card card processor at Tradorax was hacked and they were doing a overhaul on the system so I could not deposit using my credit card for a few days. However he offered me a risk free trade for the inconvenience. these risk free trades come with certain conditions one is how many times you need to trade your account to be able to withdraw funds. For example if the risk free trade comes with a 10 times turnover and I opened my account with $500 then in total profits and losses I will have to trade $5000 to have access to my money. It's a common condition among brokers. so I accepted the offer. I deposited my $500 and then I get a email telling me my account has a 30 times turnover not 10 times, yes I begin to smell something fishy. So I called backed and talked to a Gabriel Cole the boss of my account manger David. Gabriel to his credit understood what was going on and honored the agreement that was 10 times not a 30 times turnover.
    then I get another call from David Kuhn telling me that the CO of the company has broken our agreement and in no way would give me a 10 times turnover on my risk free trade. Gabriel Cole says he tried to convince the CO that to be a company that has integrity that our agreement should be honored. However again the agreement was broken by the CO.

    So now I try to eat a little humble pie and because I'm a honest man I decided to keep my account even though our original agreement was broken. So now I fire up my laptop ready to do a trade and to my surprised I now have zero funds in my trading account. Here is what this broker did. the CO knew very well they broke our agreement to not to incur a charge back then sent back my money. Leaving me with a account that I could not use. You may say at least the broker sent back your money but this is not the point. the broker showed no integrity as a company by breaking our original agreement. They knew they were in the wrong and to try to prevent further issues as a charge back then sent back my money. The moral of this story is not to trust Tradorax . they as a company will not stand behind their promises and when you are investing your hard earn money you need a broker you can trust unfortunately Tradorax is not among the trusted brokers list.

    It's really sad when a company does not stand behind a promise made by one of their employees and when the CO himself breaks the promise then it's the whole company from top to bottom that cannot be trusted.

    Sincerely yours
    Randolph Muscarella


    You know I gave Tradorax every opportunity to do the right thing and they turned me down flat. All of this because of 1 risk free trade. It makes no sense and this came from the CEO of the company. The sad part for me is I won't be able to use their platform because now I am going with Empire Options. I like them maybe because I lived in South America before and that's where they are from. they just seem more honest and open to me vs those jerks at Tradorax who really need a laxative. anyhow hope this post helps a fellow new trader. We don't have that many options if you live in the US. I was also able to get 5 risk free trades at $100 ea with only a 10 times turnover for a $500 deposit. A much better deal than Tradorax which if they were honest and held up their part of our agreement was only 1 risk free trade at $500. But having 5 at $100 is far better because if I win 3 and loose 2 then my account is only hit $2k for turnover conditions.
    Last edited by randy1953; 07-21-2015 at 11:11 PM.

  2. #2
    Rookie Member
    Dear Mr. Muscarella,

    We appreciate hearing about all of our clients` experiences with us, since it helps us build a better user experience for our platform and our customers.
    With regards to your complaint, we would like to point out that all of our terms and conditions are clearly stated in our website, and it remains each client’s responsibility to become acquainted with them. We do not break our terms and conditions on individual basis and we adhere strictly to our company policy.

    We understand your frustration after expecting certain conditions that later you felt were not provided. People trust us with their money every day, and we, at tradorax, care about our customers and want to ensure that our traders get the most out of their experience with our platform. The amount of your deposit has been refunded to you exactly because of our dedication to our customer’s satisfaction with the services we provide as a trading platform.

    Feel free to contact us via tel: +41435083530, e-mail or live chat.

    Sincerely,
    tradorax support team

  3. #3
    Active Member Frontline's Avatar
    Tradorax support team. Answers to a customers' complaints without the company's representative's name do not much add the trust.

  4. #4
    Veteran Member randy1953's Avatar
    Quote Originally Posted by tradorax View Post
    Dear Mr. Muscarella,

    We appreciate hearing about all of our clients` experiences with us, since it helps us build a better user experience for our platform and our customers.
    With regards to your complaint, we would like to point out that all of our terms and conditions are clearly stated in our website, and it remains each clientís responsibility to become acquainted with them. We do not break our terms and conditions on individual basis and we adhere strictly to our company policy.

    We understand your frustration after expecting certain conditions that later you felt were not provided. People trust us with their money every day, and we, at tradorax, care about our customers and want to ensure that our traders get the most out of their experience with our platform. The amount of your deposit has been refunded to you exactly because of our dedication to our customerís satisfaction with the services we provide as a trading platform.

    Feel free to contact us via tel: +41435083530, e-mail or live chat.

    Sincerely,
    tradorax support team
    And who are you what is your name?
    You folks know you done the wrong move with me. You or better yet the CEO broke our agreement. This had nothing to do with feelings. If you have issue with feelings then call Dr.Phil.
    this had to do simply with 1 risk free trade that was given to me by a Gabriel Cole. I was promised this risk free trade with a 10 times turnover. But then the CEO felt it was not to his liking and canceled my risk free trade unless I accepted a 30 times turnover. I have all this in the email you sent me. When the actual head of a company breaks a agreement with a client new or old then imo this company should not be trusted. It came from the top person at Tradorax. It never should had happen. To be honest a Mr. Gabriel Cole did go to bat for me and was shot down by the CEO.
    So what happened next the CEO immediately requested a extremely quick refund because he knew that our agreement was broken so to advoid a black mark by a chargeback my money was refunded. This is not how any company that has intergity should behave. Even if one of the reps was wrong in giving me this risk free trade at a 10 times turnover the CEO should had stood behind this deccision because the agreement was already promised and made.
    Shame on you Tradorax you know you have done wrong and there is no going back.
    Sincerely
    Randolph Muscarella

    "The amount of your deposit has been refunded to you exactly because of our dedication to our customerís satisfaction"
    No the amount was refunded not by me but by your CEO and had nothing to do with customer satisfaction and everything to do with cover my butt I screwed this guy and don't want a chargeback!

    Below is my email to David Khun and his response.

    david you must send me a email that has 10 times for the turnover instead of 30. this is holding up everything. i would like to start trading on my sunday night
    Confirmation for successful deposit at Tradorax.com

    David Kuhn
    Randy, the general manager is not in the office, he leaves earlier, I have let him know of what you discussed with Gabriel and he will approve it by Monday morning...

    Clearly it was not approved so folks please stay away from this broker not to be trusted.
    Thnaks
    Randy
    Last edited by randy1953; 07-25-2015 at 08:26 PM.

  5. #5
    Solid Member
    First I should highlight that no regulated European broker will accept you because you are from the US so you have to filter your way through the junk. When you trade with an regulated company they can do what the hell they want. You wont know the owner's name because there are people that keep their identity hidden unless one of the team members leaks it out to you. Only then you can press charges but again this is international lawsuits which are not worth the time unless you have a lot of money to spare. There is very little you can do. I would consult with REAL US TRADERS to find a trusted, unregulated broker.

  6. #6
    Veteran Member randy1953's Avatar
    Quote Originally Posted by Johnny View Post
    First I should highlight that no regulated European broker will accept you because you are from the US so you have to filter your way through the junk. When you trade with an regulated company they can do what the hell they want. You wont know the owner's name because there are people that keep their identity hidden unless one of the team members leaks it out to you. Only then you can press charges but again this is international lawsuits which are not worth the time unless you have a lot of money to spare. There is very little you can do. I would consult with REAL US TRADERS to find a trusted, unregulated broker.
    I think you meant to say non regulated broker but I get you and you are most correct. that's exactly what I am trying to do here. If you know of a more US based forum where I can ask about any trusted non regulated brokers that will take US traders please share.
    thanks
    Randy

  7. #7
    Rookie Member
    Dear Mrs. Muscarella,

    Thank you for expressing you opinion on the issue. We would like to clarify some aspects of the problem.

    First of all, each company sets strict terms and conditions which apply to all clients without any individual exceptions.

    As far as Gabriel Cole is concerned, he only said that we would consult the CEO, but he definitely did not promise you that your personal demand will be fulfilled since, in fact, it runs counter to the company’s policy. Please, have in mind that we cannot adjust policy for an individual’s taste; they need to apply equally to all customers. We are a reputable, hard-working and responsible company, which endeavors to give the best possible service and experience to our customers.

    Last but not least, your money was refunded at the very beginning of the dispute when you expressed your disagreement with our deal policy.

    We understand your frustration but based on what is actually transpired, but labeling us with words like “scam” is uncalled for, and patently false.

    Please, feel free to contact us via email, live chat, or by telephone: +41435083530

    Sincerely,
    Ann Paterson
    tradorax support department

  8. Thanks Michael Hodges thanked this post
  9. #8
    Veteran Member randy1953's Avatar
    Dear ann,

    You broke your word simple as that. Gabriel Cole told me that I would have approval for the risk free trade on Monday. This was after I sent my money in.
    I was refunded because your CEO knew he broke his work and did not want to see another charge back on your account as I'm sure you have many of them.
    I'm a pretty honest man none of this had to happen if your company was the same. And yes I feel it is a scam anytime you make a false promise and don't honor your word.
    Have a good day
    Randy

  10. #9
    Rookie Member
    Dear Mr. Muscarella,

    The idea that the CEO was personally involved in the decision for a special deal for an individual trader, contrary to what is offered to everyone else, is an interesting one, but unfortunately not the reality.

    As for the reason you state you were refunded, “your CEO knew he broke his work and did not want to see another charge back on your account as I'm sure you have many of them”. This is simply untrue as explained above and pure unappreciated speculation on your part.

    We apologize for Gabriel Cole going above and beyond his purview to try and help you, but trying to over help a client, is not something that we necessarily consider an ill trait amongst our employees.

    You asked for a better deal than what was clearly stated in our terms and conditions on our website, and when you were not willing to accept the same terms as applicable to everyone else, we returned your money to you.

    For this I think, words such as scam are hardly warranted.

    Please, feel free to contact us via email, live chat, or by telephone: +41435083530

    Sincerely,
    Ann Paterson
    tradorax support department

  11. #10
    Legendry Member Michael Hodges's Avatar
    I understand his complaint, but I think Ann has sufficiently responded, andn for reall.... you have to read the T&C, you can't just make up your own rules, sounds more like sour grapes than a actual problem, not to mention that Randy got a refund. What is alarming to me is that it seems, from other posts, the Randy is opening a new account with a new broker every other day . . . and using lots of automated softwares.

    Randy, you need to focus on your trading, forget about bonuses and risk free BS, good trades, slow and steady progress is what you need, not a holy grail.

  12. Thanks StumbleTraderDB thanked this post

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