Fraud report
I have recently joined t4trade. I deposited some amount and started trading with them and made big profit and the amount is close to $75000 so tried to withdraw my profit and they told me that first you can withdraw your deposit amount and then you can withdraw your profit. So I said ok I will withdraw my deposit amount through card payment method and I deposited money through the same method and I got the money back in 3 days and then I tried to withdraw my profit in 2 different methods, first through bank transfer and the amount is $27000 and second through cryptocurrency and the amount is $13000. 2 days later and they deducted all my remaining profit amount. I got mail that your account has been suspended due to violation of trading terms and conditions, though I do nothing with the terms and conditions. I also attached the mail I received from them. And then spoke to them again via mail but they only told me that you violated the trading terms. Dear Client, After conducting an investigation on the trading activity of your accounts, we have reached to the below conclusion: Your accounts were trading on price disparities with the purpose of benefiting from a possible pricing arbitrage to the Company's detriment. This comes as a violation of our Trading Terms and Conditions to which the Client has to comply with before opening an account with the Company. At this point we would like to draw your attention to Paragraph 7.25 and 31.4 of the Trading Terms and Conditions: 7.25 Internet, connectivity delays, and price feed errors sometimes create a situation where there is price latency on the Electronic Systems such that there is a disparity between the Company quoted prices and current market prices for short periods. Client expressly acknowledges and agrees that it shall not execute Transactions with the Company that rely on price latency arbitrage opportunities either by using additional functionalities/plug-ins (i.e. Expert Adviser, etc.) or by any other means. If the Client acts in contravention of this clause the Company reserves the right to (i) make corrections or adjustments to the relevant Transaction execution prices to reflect what would have occurred had there been no price latency arbitrage; and/or (ii) cancel all the relevant Transactions; and/or (iii) terminate without notice the Client’s Account with the Company; and/or (iv) charge an administration fee equal to 10% of the deposited funds, with the maximum charge set at $200 or deposit currency equivalent. 31.4 The Company may terminate this Agreement immediately without giving five (5) business days’ written notice, and the Company have the right to reverse and/or cancel all previous Transactions on a Client’s account, in the following cases: a) The Client involves the Company directly or indirectly in any type of fraud, in which it places the interests of Company and/or the Company’s clients at risk prior to terminating this Agreement. b) The Company have grounds to believe that the Client’s trading activity adversely affects in any manner the reliability and/or smooth operation and/or orderly functioning of the Trading Platform. It can be clearly seen that from the sample trading activity in the table below, when comparing the price of the executed trades with the prevailing market price at that time, there is significant price deviation in your favor. Having said the above, we will proceed with the below action: • Reverse any profits generated as a result of the breach of our Trading Terms and Conditions. You have the right to request withdrawal of your remaining balance in the account. Dealing Desk