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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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I posted a question yesterday and asked to mail more info,

Resolved Question:

I posted a question yesterday and asked to mail more info, I heard nothing yet, must I just be patient
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Thanks for asking for me. I did see it but sadly I know nothing about it, so have left it for some of my other colleagues to look at.
Alex
Customer: replied 1 year ago.

I deposited $250 with Titan Trade and was called by ***** ***** from Algo Capitals who said he will be my account manager. He told me if I deposit Another $1000 I can get a bonus which I did and got my bonus I agreed to the conditions because it was a long term investment with no need to withdraw money soon. I learned in Forex not to trade money you can’t afford to lose.

I made one small trade and Patrick told me not to trade on my own which gave me some security that I am in good hands Patrick told me to wire $5000 that will put me in a better position with better support which I did. After that he told me about the situation with oil and if I deposit another $5000 we can trade oil, we need $50000 but he has a client with $40000. At that stage I told him that I can’t deposit more money, have to make a big payment beginning of October of ZAR 520000 about $38000 and that I cannot make any deposits. That’s when he told me about the secure trade.

Dear Francois,

Following our conversation regarding your need for funds this coming October, and a very lengthy meeting with personal investment specialist, We have devised this trading strategy.

After you invest the sum of USD 10,000-30,000 I will purchase Premium Secure trade-short term contracts, expiry no later than end of September.

These funds are essential for securing these high demand contracts as early as possible in order to ensure optimal entry rates and expiry dates that match your financial requirements.

A 100% secure trade insures that should our trade “be out of the money” (lose) our contract will be fully refunded into your account as a bonus, accessible for trading or withdrawal in the future .

Best Regards,

***** *****

I deposited $5000 and another $5000. And got a bonus of $15000 that was to trade Apple stocks. I asked Patrick about the bonus conditions and that I will not be able to withdraw when I need the funds, he told me not to worry it is for people who open an account get the bonus and withdraw. We traded Apple with $30000 about the hole account, I was fine because of the secure trade situation.

That was a long term trade from the 9 September expiry 11 September 5:10.

11 September before expiry Patrick said I must deposit another $20000 to trade Google. I told him that is getting risky now and that I need the money to pay(ZAR520000) by 18 Septmber..Both trades positive account $116770

Dear Francois,

Following our conversation regarding your need for funds this coming October, and a very lengthy meeting with personal investment specialist, We have devised this trading strategy.

After you invest the sum of USD 10,000-30,000 I will purchase Premium Secure trade-short term contracts, expiry no later than end of September.

These funds are essential for securing these high demand contracts as early as possible in order to ensure optimal entry rates and expiry dates that match your financial requirements.

A 100% secure trade insures that should our trade “be out of the money” (lose) our contract will be fully refunded into your account as a bonus, accessible for trading or withdrawal in the future .

In the date of 18.9.15 you have available on your account 500,000 south African rand

Best Regards,

***** *****

So I deposited $20000. He told me to trade Google, 7 trades of $10000, I told him that there is only $22000 available because the other is on Apple, he told me as Apple expire there will be funds, at this stage I was worried but after Apple, was a positive trade, I traded Google because of the sure trade.

Then came 15 September. Patrick called me and said if I deposit $10000 he will give a bonus of $25000 to get me to $150000 (VIP member)and I can trade with David, one of the best. At that stage I refused and said that there is no money, He again assured me not worry he will help pay the bond on the farm with secure trade.

David took over and said he understand that I need money by Friday and that my account looks very good. He told me to look at BMW stocks, he changed his mind and said I must listen carefully and do as he says, we were on Skype share screen, I told him that my line was a little slow, he said no problem, we opened Gold Call and Silver Put, it went very fast as we continue to dubble up till only $9000 were left and we could not enter more. He now said its because of the slow line, but you can see on the account that the market went against us.After we lost all the money he told me we must recover, I was in panic and not sure what will happen but opened EUR USD with the $9000 won $7000, he said put it all again and we lost.

David appologised, said he will do his best to recover some funds, Patrick was nowhere. I had to wait till the next morning to hear from Patrick. He said he saw what happened and I must know that it happens in trading. I asked him what about the money and the sure trade and the ZAR 500000 I must have, his answer, this was not a sure trade, so I asked him how am I going to pay the bond, he just said we have got time deposit $2500. There are no money left in my bank account.

As it stand now I am going to lose everything.

My question is, is this the way an account manager must pressure a client, he never, not once spoke about risk or risk management, I am new in Binary, I asked about risk management, he just said not to worry.The mail I send him.

Hi Patrick

Sorry to bother you I just want to be sure because it sounds to good to be true or to risky

You say that after Apple trade expire I trade all the funds on Google, Call, expiry 20:00 today

Francois

I have lost everything I don’t know where to go, Patrick answer no calls, reply on no e.mails I leave massages at support, no reply.

Do I have a claim, I know Algo has Risk Disclaimer, but can a manager go outside the rules and then step away.At the moment I will give a significant percentage just to get some of the money back.

Thank you

Francois Wilken

Expert:  Ash replied 1 year ago.
You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.
If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.
The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.
If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value you would need representation for trial.
Can I clarify anything for you about this today please?
Customer: replied 1 year ago.

Thank you for advice. I am in South Africa and have lost in total deposit, growth and bonusses $150000. All I want back is the $46250 I deposited.

The problem is that to start a court case can cost a lot, so I am willing to pay a significant persentige to any body who can help me. Is there a possibility that you can bring me in contact to someone.

Expert:  Ash replied 1 year ago.
To start a claim is not expensive, around 5% of the money lost. If it is defended that is where it is more. You can find a solicitor here
http://solicitors.lawsociety.org.uk
Does that help?
Alex
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
Ash and 2 other Law Specialists are ready to help you
Expert:  Ash replied 1 year ago.
Hi

I am just following up to see if there is anything else I can help with?

If you have not done so already might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.

Alex

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