Unethical business practice & Conduct by Tradorax
After having gone through three account managers and a month of phone calls where I have been subjected to bullying, verbal abuse, being called a liar and been told I donít know what I am doing, I have had enough and and am wondering if it would not be easier for my sanity to just walk away from $700 than deal with this company that practices unethical conduct and business ethics.
My withdrawal request were cancelled 3 times finally Jake from their finance department called me and offered me %300.00 from 2 accounts worth $900 alleging that I had received 10 risk free trades. I insisted I never received anything and even submitted an excel spreadsheet proving that I had not received these risk free trades and asked them to prove in writing where they alleged they had been applied. Eugene my account manager didnít bother to respond but I did get a call from Daniel last night who agreed (and I recorded the conversation) that they had not been applied to my account. On his suggestion we agreed they have them applied (only because i have no choice even if I didnt want them) to the account and that within a week of using the auto traders I would get enough profits to cover the wagers. Overnight my accounts reduced to $850 and no risk free trades had been applied.
Eugene just phone me now and when I told him that Daniel had agreed with me on this issue he said he did not think that was true (basically calling me a liar the second time since he became my account manager). I asked him if he had even looked at my spreadsheets and he said he did not need to because the credits have already been given. I said listen to the recording where Daniel confirmed that the credits had not been applied. He said he had already listen to the call - I do believe he is not telling the truth as I could hear someone in the background telling him what to say.
I cannot tolerate it any more nor the frustration of dealing with people who treat me this way - so rude!. I told that I found it disgusting to have to deal with such an unethical company nor do I want to deal with the staff who have no respect for the client. Nor do i want to deal with brokers who force you to take a promotion even if you donít want it. It appears they will go out of their way to ensure that they do not refund you your deposit when you want to close the account. I am starting to tremble when i see them calling because i donít know what to expect any more .... more lies, more bullying, more being treated with disrespect and anything else they can do to not let me have me have monies due to me. They are not regulated (even though they told me they were and they hide behind this to do illegal practices)
As I told Eugene ... I will endeavor to advise others of my experience and their practices. I have all the documents and recording as proof of my statements.
I sent my last email advising that I did not want to have any further communication, I would leave the auto traders to run and if ever (which i doubt) the two accounts reached $1400 (which should cover the wager) and i would submit a further withdrawal request. Although, by then I am not sure what excuse they will come up with not to honor it.
Rather a disappointing and terribly upsetting experience.
Im really sorry to hear your story but this sums it all, Do not fall into kind words or stupid lies, make your own research before u choose an unregulated broker... Now its a good time to start fresh if u feel so and go thru official websites like BOTS and read reviews about some brokers before u trust them your money.... Again im really sorry to hear the story, but did u at least read the T&C before u signed up and deposited money there ? This business is full of bullies and scammers who dont give a shit and they just want to take your money away from u ! at least u learnt the lesson... about your money i dont think theres much more u can do about it...
Originally Posted by Peta
gl ht and welcome on board
"He who makes a BEAST of himself, gets rid the pain of being a MAN" S.J
I did - that was reason I specifically told them that I did not want any bonus's to lock me into the account. Initially Jake insisted I had taken the bonus but when he realized he was not going to win that argument he went on to say I had received 10 risk free trades. When Daniel checked as I have a recording and his exact words were " Yes I see that they have not been allocated to your account yet." I asked then that they not be because I did not agree to them in the first place. Well here is the shocker, they are part of their promotion and you have to have them whether you want them or not. It does not help trying to safeguard yourself. They just create new ways to refuse processing your withdrawal - as in my case. One representative says I was NOT allocated the risk free trades and the other says I have been allocated them. He even refuses to look at my excel spreadsheet which proves I did not. There is just no reasoning with people like that. The facts are in my favour (recordings and paperwork) but until Eugene and Jake behave like gentleman and man up to having made a mistake ... I am at the mercy of their lies and deceitful practices.
Originally Posted by poe
Another example why I prefer to stay away from any broker who offers account management. I just don't get it how people can give their own money to managers, who actually work for your broker. it is not in their interests in the first place to let you win and you let them trade for you. Really, why?
[QUOTE=astravars;70529]stay away from any broker who offers account management.QUOTE]
Hi astravars - I use the reference "account manager" rather loosely as that is what they call themselves, although managing the account is not even what they do. However, I did not take up his service to manage my account, he was just allocated to me. I registered with that broker to trade using an auto trader. I am assuming all the trades were made by the auto trader and not by the account manager. I did not ask them to place trades for me at all. I was actually making a profit using the auto traders.
If they had processed the withdrawal when I requested it, I would have made $200 profit.
My issue is that they say I received risk free trades which I did not. They now want to deduct these alleged risk free trades from the balance in my account. Why must I pay for risk free trades I did not receive?
Why do u even memorise all their names.... they are probably fake anyways :P
"He who makes a BEAST of himself, gets rid the pain of being a MAN" S.J
I'm sorry to hear your story.
Guess it all sums it up: it's a crooked broker that steals your money.
There are too many of them, so stick to the recommended brokers instead and don't listen to bonus offers, unless you have a real plan to beat the bonus conditions)
What is your situation with Tradorax now?
The first complaints from Tradorax customers have started popping up on trading forums since May, 2016. Soon afterwards the majority of traders couldn't withdraw their funds being told that they had signed up for bonuses or similar services while no such agreements have ever been made. By July the number of complaints skyrocketed, it was clear that this broker is a scam. Nonetheless, newbie traders kept on starting collaborations, being reluctant to research in depth about the broker’s reputation prior to commitment.
From the very beginning the staff manifested unprofessional attitude including numerous personal offers directly to the traders like ‘Take this bonus, we only give it to good clients’. First of all, a broker must be impartial to all the customers and such a proposal should be the first red flag. The ultimate argument against Tradorax is the fact that up to this moment the owner company has changed three times, which proves their effort to avoid any legal prosecutions.
As a rule I always advise traders to try the demo account before signing up. The problem with this broker is that they don't even offer this possibility. Additionally, the user friendly platform is just a formality and consultants never respond on the customer support line.
Their Facebook group @StayAwayFromTradorax gathers more than 300 Tradorax victims and it is only a tiny fraction of the actual number of people who have been deceived by this unscrupulous broker. However, the chances to recover your money are extremely slim. In case of CySEC regulated brokers, if a CIF is unable to award his clients damages, traders receive remuneration from the Investor Compensation Fund. But given that Tradorax is unregulated the only way possible to get your money back is to report the case to the National Securities Authority. The success probability is miserable, but don't pay anyone who pretends to help you with the chargeback. It is a common pitfall and rarely ever helpful.
Finally, the best thing you can do is to intensively share your experience and help potential victims avoid collaboration with Tradorax or any other unreliable brokers.
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