Account Freezed by Stable 1 Provider

Franciswee1
29 Jul 2020, 16:34

RE:

Franciswee1 said:

I am dismay when I copied Trading provider Stable 1 and was unable to withdraw my funds after I stopped copying.  

As I understand from the other threads, Stable 1 has recently charged performance fees of 30% believed to be 23/7/2020.

However system appears to back calculate the performance fees prior to the days  of "Free Copying" by Stable 1.  This has lead to bad computation or unfair back charging of performance fees.

How could cTrader allowed such computation in the first place?  Hopefully cTrader can seriously resolve this matter and bring confidence back to the trading community at large.

Trader ID : 1112306

 

This brings me to another question.  If a provider suddenly changes his mind tomorrow and decides to increase his commission to 70% from 30%, does cTrader system allows the provider to backcharge 70% from day 1 e.g 5 months ago ?  I believe this is happening to Stable 1.  Please investigate

michaelroger908
30 Jul 2020, 02:56

Hi Francis,

I am a fellow user of IC market also. I had the same issue and I wrote to them. They informed me that they could only write in to spotware to find out. Chance upon this forum. May I know if ctrader has addressed your issue?

Yours sincerely

Michael

Franciswee1
31 Jul 2020, 16:04

RE:

michaelroger908 said:

Hi Francis,

I am a fellow user of IC market also. I had the same issue and I wrote to them. They informed me that they could only write in to spotware to find out. Chance upon this forum. May I know if ctrader has addressed your issue?

Yours sincerely

Michael

Dear Michael,

Its been 2 days and I have not been offered any assistance since I posted in this community.  

I am worry if there is really a problem in the system as I am still unable to withdraw the funds till date.  

Hope someone can sincerely look into my case quickly.

Yours Sincerely

Francis

tomashfield0
31 Jul 2020, 17:14

RE: RE:

Franciswee1 said:

michaelroger908 said:

Hi Francis,

I am a fellow user of IC market also. I had the same issue and I wrote to them. They informed me that they could only write in to spotware to find out. Chance upon this forum. May I know if ctrader has addressed your issue?

Yours sincerely

Michael

Dear Michael,

Its been 2 days and I have not been offered any assistance since I posted in this community.  

I am worry if there is really a problem in the system as I am still unable to withdraw the funds till date.  

Hope someone can sincerely look into my case quickly.

 

Yours Sincerely

Francis

 

I am having same sort of problem I have currently stopped copping 3 strategies and can't withdraw my funds. its been 4 days for me now I have been on and off the phone with ic markets the whole time they just keep telling me they still haven't had a response from ctrader its not on I am losing faith in c trader 

tomashfield0
31 Jul 2020, 17:20

RE: RE: RE:

tomashfield0 said:

Franciswee1 said:

michaelroger908 said:

Hi Francis,

I am a fellow user of IC market also. I had the same issue and I wrote to them. They informed me that they could only write in to spotware to find out. Chance upon this forum. May I know if ctrader has addressed your issue?

Yours sincerely

Michael

Dear Michael,

Its been 2 days and I have not been offered any assistance since I posted in this community.  

I am worry if there is really a problem in the system as I am still unable to withdraw the funds till date.  

Hope someone can sincerely look into my case quickly.

 

Yours Sincerely

Francis

 

I am having same sort of problem I have currently stopped copping 3 strategies and can't withdraw my funds. its been 4 days for me now I have been on and off the phone with ic markets the whole time they just keep telling me they still haven't had a response from ctrader its not on I am losing faith in c trader 

I have sent email to community@spotware.com still no reply. I have sent an email tosupport@spotware.com still no reply, the customer serves is shocking 

 

Franciswee1
02 Aug 2020, 08:55

RE:

Franciswee1 said:

I am dismay when I copied Trading provider Stable 1 and was unable to withdraw my funds after I stopped copying.  

As I understand from the other threads, Stable 1 has recently charged performance fees of 30% believed to be 23/7/2020.

However system appears to back calculate the performance fees prior to the days  of "Free Copying" by Stable 1.  This has lead to bad computation or unfair back charging of performance fees.

How could cTrader allowed such computation in the first place?  Hopefully cTrader can seriously resolve this matter and bring confidence back to the trading community at large.

Trader ID : 1112306

 

Dear Management of Spotware / cTrader,

Can Anyone help me with my request please ?

Yours Sincerely

Francis 

PanagiotisCharalampous
03 Aug 2020, 08:55

Hi Francis,

We have explained what happened in this thread.

Best Regards,

Panagiotis 

Join us on Telegram

michaelroger908
04 Aug 2020, 04:21

RE:

PanagiotisCharalampous said:

Hi Francis,

We have explained what happened in this thread.

Best Regards,

Panagiotis 

Join us on Telegram

 

Dear Francis,

Just wanted to share that I am sadden by Ms Christiana Dunga's (IC Markets) reply.  She took the similar approach that IC Markets does not interfere with the cTrader's details of the trading system.  Even though she left it open for further assistance, I could observed that neither Ctrader nor IC Markets would be taking a deeper dive into understanding the issue.  My understanding of things is that Stable 1 may not even be aware of the glitch and may realise that he had a sudden windfall because of this issue.  However even though Stable 1 would like to return the money, CTrader does not have the avenue to do so.  This is where the accountability lies with Ctrader for failing to provide a fair platform and IC Markets for failing to probe into the matters respectively.  

I chance upon ASIC and I understand IC Markets is regulated by them.  Here's an extract :

"ASIC has several systems in place to improve trader confidence including:

• A compensation scheme that protects client funds in the event of broker insolvency.

• Several educational programs such as the MoneySmart program, whose aim is to educate traders and help them maximise their returns.

• Services that help with reclaiming lost money in dormant accounts.

• Codes of practice that people must familiarise with before investing in the markets.

• A support system that handles any complaints against member firms or ASIC staff. People can file complaints straight to the ASIC consumer helpline which deals with many issues such as financial malpractice, fraud and tip-offs."

I am thinking of putting up a whistle-blow IC Markets for the financial malpractice as my account has been freezed wrongfully and some of my friends wrongfully deducted.  

Whats your view on this?  Any other bodies we could raise the attention to also?

Yours Sincerely 

Michael