Withdraw funds without broker
Withdraw funds without broker
18 Feb 2023, 20:57
Hi CTrader support Team,
I have been scammed by my broker. My broker is not allowing me to withdraw funds from my cTrader mobile account.
I have invested 1200 usdt which is around Rs 1,05,000/- inr and made profit of 1800 usdt by placing trade on XAUUSD (gold trading). Total balance as of now in my ctrader mobile is $ 3043
Is there any way by which I can withdraw my funds without involving my broker from CTrader mobile App?
The broker name is TGC - The Global Exchange Company. They said that they are working from Australia and have fake WhatsApp contact with numbers having Australian pin code.
I have filed a complaint against them in cyber crime department Mumbai (India)
Please help!
Nisha Sehgal
Mobile - +91 - 7021994683 (India)
Replies
nishamsehgal33
20 Feb 2023, 13:45
( Updated at: 21 Dec 2023, 09:23 )
Hi CTrader Support Team,
Thank you for all your support and quick action on my request.
I am very thankful you have freezed my cTrader account on urgent basis. I received a call from my broker and they informed me that on the basis of my complaint the ctrader account is freezed.
My broker was putting false claim that trading was done by my brother Mr. Nitesh Sehgal. I just want to inform the ctrader support and community members that by broker forced me to invest in gold trading XAUUSD. I was not interested as my father was paralyzed and hospitalized. I told them I am not having funds, whatever I have already invested you give the training on that only. But Arjun from my broker TGC forced me to invest more Rs 1,05,000/- and he (Arjun from my broker TGC) only recommended me that if I am not free as my father was hospitalized I can ask my brother to trader on my behalf and now when I lodged a complaint my broker TGC The Global Exchange Company is making all false claim that this is illegal. When my broker told me this, I asked my broker if this was illegal than why my broker has not informed me about this before I started the trading. Also my broker is putting pressure on me to withdraw the complaint from Ctrader and I have informed my broker that I will not withdraw the complaint until $3043 which are there in my cTrader account are credited to my bank account.
I request you not to entertain my broker TGC The Global Exchange Company and do not unfreeze my ctrader mobile account and balance until you receive that in written from me and until I withdraw my complaint
Please see below complaint lodged at National Cyber Crime India
Complaint no - 21902230015031
@nishamsehgal33
nishamsehgal33
21 Feb 2023, 13:09
( Updated at: 21 Dec 2023, 09:23 )
My broker has deleted live account from my cTrader Mobile App. Also my broker has withdrawn $1845 from profit and marked as fraud trading in my mobile Ctrader App.
Please anyone can help me in this issue as $1197.34 was still there in my live account before my broker deleted it
@nishamsehgal33
nishamsehgal33
21 Feb 2023, 14:03
This is in reference to my earlier request, there was a misunderstanding between me and the broker and now they are in contact and have confirmed that the withdrawal would be done on immediate basis.
Regards,
Nisha Sehgal
@nishamsehgal33
nishamsehgal33
06 Apr 2023, 09:33
( Updated at: 07 Apr 2023, 10:03 )
Hi CTrader Support Team,
With reference to my previous email where I mentioned that me and my broker TGC The Global Exchange Company are in talks about the withdrawal of $3043.
I would like to bring to your attention that as of now my broker has given withdrawal of only $150. Again my broker has stopped giving me the withdrawal of pending $2900. Few days back when I checked I found that my broker has deleted my live account 1000243 (nishamsehgal33) from cTrader Mobile.
Yesterday after messaging my broker continuously on telegram, I received a call from my broker's financial advisor Mr. Arjun Raghav and he was lying and misguiding me again. He said the reason why my withdrawal is on hold is because I have not completed the trading of minimum lot size.
I said to Arjun Raghav that this was not informed to me earlier and now after 2 months you are giving me irrelevant reasons for not giving me the pending withdrawal amount of $2900.
I would like to bring to your attention that because of my complaint regarding this scam in the ctrader forum, Many people contacted me and told me that they are also cheated and scammed by the same broker TGC The Capital Exchange Company. All they do is they ask you to invest in Gold trading XAUUSD and then the broker will make you trade for sometime and after that when you ask the broker for withdrawal they will give you excuses and will force you to invest in telsa share for bigger profit and will never give you the withdrawal or return your money.
Just like me all these people have registered a complaint in Cyber Crime against the broker TGC and their scammer Associates Arjun Raghav, Ritikka, Ayaan, Varun and Jash. We have been called by Cyber Crime Mumbai to visit their office on 8 April 2023 (Saturday) and submit all the proofs and recordings against the broker for further investigation.
I would request cTrader to blacklist this broker TGC (Capital Trades) and investigate from your end and take strict action against the broker as this broker is scamming people and looting their hard earned money.
@nishamsehgal33
PanagiotisChar
07 Apr 2023, 09:01
Traders need to do their due diligence before depositing money to any broker. No matter what Spotware does, it's impossible to filter out a client with malevolent intentions before they commit the wrong doing.
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@PanagiotisChar
nishamsehgal33
07 Apr 2023, 09:58
RE:
PanagiotisChar said:
Traders need to do their due diligence before depositing money to any broker. No matter what Spotware does, it's impossible to filter out a client with malevolent intentions before they commit the wrong doing.
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I understood stood that it's difficult to filter out one broker. But here in my case I have already filtered out the fraud broker TGC The Global Capital Exchange for cTrader. Now it's Ctrader teams turn to take action and blacklist the said broker. Also should freeze all their accounts and transaction. So that other people will be safe from falling into the trap of these scammers
@nishamsehgal33
PanagiotisChar
07 Apr 2023, 10:03
Probably this is what is going to happen but the damage is done. Software vendors, regulators, authorities can only act retroactively in most cases. The suggestion is to only work with reputable brokers in the future.
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@PanagiotisChar
nishamsehgal33
07 Apr 2023, 10:35
RE:
PanagiotisChar said:
Probably this is what is going to happen but the damage is done. Software vendors, regulators, authorities can only act retroactively in most cases. The suggestion is to only work with reputable brokers in the future.
Probably this is what is going to happen but the damage is done. - you meant to say ctrader is going to blacklist and freeze all the transaction with This broker TGC The Global Capital Exchange
@nishamsehgal33
PanagiotisChar
07 Apr 2023, 10:37
( Updated at: 07 Apr 2023, 10:39 )
I guess. This is what usually happens in these cases.
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@PanagiotisChar
nishamsehgal33
07 Apr 2023, 11:01
RE:
Spotware said:
Dear trader,
The issue is investigated and relevant actions will be taken.
Best regards,
cTrader Team
Hi CTrader team,
I am thankful to you that issue is being investigated. I want to bring to your attention that I am not trader by profession I am female doing regular job in India. This broker TGC made me write an email to you stating that "me and this broker are in talks and co-ordinating for the withdrawal". They put this condition before me and said if you want your withdrawal of $3043 write this email and post this on the community forum as well.
I would also like to bring to your attention that when I posted my issue in the community forum of ctrader, many people contacted me who are also cheated the same way from the same broker. This broker TGC has cheated and scammed many innocent people of different parts of India.
There was one person who attempted suicide. This broker had asked him to invest money by taking loan from bank and credit card. After he invested money of around 2 lakhs this broker is not giving withdrawal to that person and he is now paying heavy interest on that loan to bank. That is why he attempted suicide. He has 2 small kids and his wife.
I had all the proofs and contact of other people from different parts of India who had been the victim of this fraud broker. Please let me know if you need anything from my end
Also whom should I contact in ctrader to get updates on this case
Thank you
@nishamsehgal33
nishamsehgal33
11 Apr 2023, 07:50
RE:
Spotware said:
Dear trader,
The issue is investigated and relevant actions will be taken.
Best regards,
cTrader Team
Hi CTrader Support Team,
Could you please update as what action/ investigation has been taken/done till now against the broker TGC The Global Capital Exchange.
Regards,
Nisha Sehgal
@nishamsehgal33
ncel01
11 Apr 2023, 11:03
RE:
PanagiotisChar said:
Traders need to do their due diligence before depositing money to any broker. No matter what Spotware does, it's impossible to filter out a client with malevolent intentions before they commit the wrong doing.
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Panagiotis,
Regardless of what diligence is conducted by traders, Spotware shall always apply the highest "safety" standards by putting in place the due contingency plans to mitigate the risk at the source and avoid that traders will end up being assaulted within its own house.
The fact that traders can/should also do their own diligence on this, does not prevent, in any way, Spotware to take its responsibilities before accepting brokers as new clients. After all, traders get connected to brokers via cTrader, right?
This seem to me, not only mandatory, but also a very basic "safety" approach to be taken within such a business model.
Anyway, the scrutiny done by Spotware to their potential clients (brokers) is yet to be known.
@ncel01
ncel01
11 Apr 2023, 11:12
RE:
PanagiotisChar said:
Probably this is what is going to happen but the damage is done. Software vendors, regulators, authorities can only act retroactively in most cases. The suggestion is to only work with reputable brokers in the future.
The suggestion is to only work with reputable brokers in the future.
This is a suggestion to Spotware, I assume?
Are not all the cTrader brokers are regulated? This is, in fact, the minimum required from Spotware: to make sure that all the brokers accepted as clients (available to traders) are regulated. If this this is not the case the situation is just unspeakable.
@ncel01
PanagiotisChar
11 Apr 2023, 12:21
This is a suggestion to Spotware, I assume?
No, mine
Are not all the cTrader brokers are regulated? This is, in fact, the minimum required from Spotware: to make sure that all the brokers accepted as clients (available to traders) are regulated
Regulation does not guarrantee that brokers won't misbehave. Just check the regulator sites how many brokers are fined every month.
Spotware shall always apply the highest "safety" standards by putting in place the due contingency plans to mitigate the risk at the source and avoid that traders will end up being assaulted within its own house
Do you just jump on any airline's plane just because it's flying with Boeings/Airbuses? The plane manufacturers responsibility is to provide safe airplanes. Asking Spotware to be liable for what brokers do outside the platform is like asking Boeing/Airbus to check on every airline using their planes, if they are doing their job well on a daily basis. It's not possible, and it's not their job to do so.
@PanagiotisChar
ncel01
11 Apr 2023, 16:34
( Updated at: 12 Apr 2023, 00:43 )
RE:
PanagiotisChar said:
This is a suggestion to Spotware, I assume?
No, mine
Are not all the cTrader brokers are regulated? This is, in fact, the minimum required from Spotware: to make sure that all the brokers accepted as clients (available to traders) are regulated
Regulation does not guarrantee that brokers won't misbehave. Just check the regulator sites how many brokers are fined every month.
Spotware shall always apply the highest "safety" standards by putting in place the due contingency plans to mitigate the risk at the source and avoid that traders will end up being assaulted within its own house
Do you just jump on any airline's plane just because it's flying with Boeings/Airbuses? The plane manufacturers responsibility is to provide safe airplanes. Asking Spotware to be liable for what brokers do outside the platform is like asking Boeing/Airbus to check on every airline using their planes, if they are doing their job well on a daily basis. It's not possible, and it's not their job to do so.
Panagiotis,
Regulation does not guarrantee that brokers won't misbehave. Just check the regulator sites how many brokers are fined every month.
I am aware of that. However, it would help on mitigating the risk, or not?
How would you qualify unregulated brokers then?
Do you just jump on any airline's plane just because it's flying with Boeings/Airbuses? The plane manufacturers responsibility is to provide safe airplanes. Asking Spotware to be liable for what brokers do outside the platform is like asking Boeing/Airbus to check on every airline using their planes, if they are doing their job well on a daily basis. It's not possible, and it's not their job to do so.
As far as I know it is not a standard procedure within the aviation industry to crash planes. On the other hand, it seems to be a standard procedure for some brokers to intentionally behave harmfully against traders.
It is not about being liable or not. It is about not acting recklessly. Also, having clearly defined requirements to accept brokers as clients does not exactly entail any checking on a daily basis. Let's be reasonable.
What is the conclusion after all?
Spotware should not take any actions on assessing brokers and mitigating the risk before accepting these as clients because that would be an issue. Is it?
As you can imagine, it is really hard for me to follow such a paradox.
Moreover, a motto like "Traders First" means absolutely nothing when simple/central actions to protect traders are just not taken, without any apparent reason.
@ncel01
PanagiotisChar
12 Apr 2023, 08:01
What is the conclusion after all?
Spotware should not take any actions on assessing brokers and mitigating the risk before accepting these as clients because that would be an issue. Is it?
The conclusion is that no matter what actions Spotware takes, there is nothing that can prevent brokers from misbehaving, so traders have the primary responsibility of choosing with whom to cooperate and send their money to.
The paradox for me is that we live in an era where well respected banks, regulated by central banks, collapse in one night but traders somehow expect that a software vendor should protect from all dangers and provide them 100% security of their funds.
@PanagiotisChar
nishamsehgal33
12 Apr 2023, 08:12
( Updated at: 12 Apr 2023, 08:14 )
RE:
PanagiotisChar said:
What is the conclusion after all?
Spotware should not take any actions on assessing brokers and mitigating the risk before accepting these as clients because that would be an issue. Is it?
The conclusion is that no matter what actions Spotware takes, there is nothing that can prevent brokers from misbehaving, so traders have the primary responsibility of choosing with whom to cooperate and send their money to.
The paradox for me is that we live in an era where well respected banks, regulated by central banks, collapse in one night but traders somehow expect that a software vendor should protect from all dangers and provide them 100% security of their funds.
Dear friend,
I agree with what all you have said. But imposing fine on brokers will not be enough. Now why I am telling this is because when I told my broker that i will be raising a complaint against TGC in ctrader forum, my broker told me that, they will pay the fine and ctrader will leave them again and everything will be back to Normal.
Paying fine to ctrader will give ctrader money, what about my money. Instead ctrader should involve legal in such cases and blacklist such brokers unless and until they are proven guilty. Also ctrader should make an obligation for the broker to return the traders their money without which ctrader is not going to allow that broker to work with ctrader again.
Everything is simple unless someone tries to complicate it
@nishamsehgal33
PanagiotisChar
12 Apr 2023, 08:20
Paying fine to ctrader will give ctrader money, what about my money. Instead ctrader should involve legal in such cases and blacklist such brokers unless and until they are proven guilty. Also ctrader should make an obligation for the broker to return the traders money without which ctrader is not going to allow that broker to work with ctrader again.
Probably cTrader will just stop working with this broker. But it has no power to enforce anybody to return money. It's not the state. That's why traders should be careful. Deceiving the software vendor, the regulator, the state is easy. It happens every day, it has happened many times in the past. The problem here is while the regulator and the state can take legal action and impose fines or take somebody to jail, there is really not much a vendor can do than just stop working with the party that violated the law.
@PanagiotisChar
nishamsehgal33
12 Apr 2023, 10:58
( Updated at: 12 Apr 2023, 11:01 )
RE:
PanagiotisChar said:
Paying fine to ctrader will give ctrader money, what about my money. Instead ctrader should involve legal in such cases and blacklist such brokers unless and until they are proven guilty. Also ctrader should make an obligation for the broker to return the traders money without which ctrader is not going to allow that broker to work with ctrader again.
Probably cTrader will just stop working with this broker. But it has no power to enforce anybody to return money. It's not the state. That's why traders should be careful. Deceiving the software vendor, the regulator, the state is easy. It happens every day, it has happened many times in the past. The problem here is while the regulator and the state can take legal action and impose fines or take somebody to jail, there is really not much a vendor can do than just stop working with the party that violated the law.
Dear PanagiotisChar and ncel01
I really appreciate both of you for spending your valuable time on sharing your views on this issue with the broker.
I have sent follow up email to the ctrader support team on the progress but i haven't received a reply yet from them.
And PanagiotisChar to your point that ctrader cannot force the broker to return my money, i would like to ask you that is there any way by which i can get this fraud broker company address or contact details so that I can involve the legal team from India.
Also to bring to your attention this fraud broker made me do all the transactions via binance app. Frankly speaking, i am very new to this trading world, not having any knowledge about ctrader, binance and trading XAUUSD. I did what all things this fraud broker asked me as they always trapped me by saying it's very easy to earn in gold trading even after i denied and requested this broker to return my $1200.
Also just few days back when I replied and updated my complaint thread in ctrader community forum. 2 to 3 people contacted me via telegram and mobile and informed me that they have also get scammed and cheated by the same broker TGC the Global Capital Exchange. The reason I am sure it's the same broker is because the person name who called as financial advisor from TGC broker was Arjun Raghav, he used same pattern to put people in trap, firstly he will tell you to invest $200 - 17000 INR and they will provide training in forex trading, once you have invested $200 than he will play the card of greed saying there is very less profit around $4 to $5 instead you should go for gold trading XAUUSD. But for doing XAUUSD trading you have to invest more $1000. Once you had invested $1000 than he will force you to buy tesla share and will always force you saying that the share price will go up by next 3 to 4 months. And for buying tesla share he will ask to invest more $2000. And once you fall into his trap, he will never give you the withdrawal or return the money. Luckily I didn't invested in tesla as i was getting signals that this broker is fraud in my mind. But unfortunately he trapped me in XAUUSd trading and made me invest $1206 - 1,05,000 INR.
So other people who contacted me by seeing my thread in ctrader community forum had this similar pattern of scamming.
These fraud people are operating somewhere from India and are Indians as well. Because they were communicating in Indian origin language.
I request if PanagiotisChar and ncel01 having any kind of influence in ctrader management to please ask ctrader support team to audit the broker TGC the Global Capital Exchange and if possible what ever this broker is stating in my case please let me know about it so that I can also tell the true facts about what actually has happened in my case
Thanks
Nisha Sehgal
@nishamsehgal33
nishamsehgal33
12 Apr 2023, 11:04
RE: RE:
ncel01 said:
PanagiotisChar said:
This is a suggestion to Spotware, I assume?
No, mine
Are not all the cTrader brokers are regulated? This is, in fact, the minimum required from Spotware: to make sure that all the brokers accepted as clients (available to traders) are regulated
Regulation does not guarrantee that brokers won't misbehave. Just check the regulator sites how many brokers are fined every month.
Spotware shall always apply the highest "safety" standards by putting in place the due contingency plans to mitigate the risk at the source and avoid that traders will end up being assaulted within its own house
Do you just jump on any airline's plane just because it's flying with Boeings/Airbuses? The plane manufacturers responsibility is to provide safe airplanes. Asking Spotware to be liable for what brokers do outside the platform is like asking Boeing/Airbus to check on every airline using their planes, if they are doing their job well on a daily basis. It's not possible, and it's not their job to do so.
Panagiotis,
Regulation does not guarrantee that brokers won't misbehave. Just check the regulator sites how many brokers are fined every month.
I am aware of that. However, it would help on mitigating the risk, or not?
How would you qualify unregulated brokers then?
Do you just jump on any airline's plane just because it's flying with Boeings/Airbuses? The plane manufacturers responsibility is to provide safe airplanes. Asking Spotware to be liable for what brokers do outside the platform is like asking Boeing/Airbus to check on every airline using their planes, if they are doing their job well on a daily basis. It's not possible, and it's not their job to do so.
As far as I know it is not a standard procedure within the aviation industry to crash planes. On the other hand, it seems to be a standard procedure for some brokers to intentionally behave harmfully against traders.
It is not about being liable or not. It is about not acting recklessly. Also, having clearly defined requirements to accept brokers as clients does not exactly entail any checking on a daily basis. Let's be reasonable.
What is the conclusion after all?
Spotware should not take any actions on assessing brokers and mitigating the risk before accepting these as clients because that would be an issue. Is it?
As you can imagine, it is really hard for me to follow such a paradox.
Moreover, a motto like "Traders First" means absolutely nothing when simple/central actions to protect traders are just not taken, without any apparent reason.
Dear PanagiotisChar and ncel01
I really appreciate both of you for spending your valuable time on sharing your views on this issue with the broker.
I have sent follow up email to the ctrader support team on the progress but i haven't received a reply yet from them.
And PanagiotisChar to your point that ctrader cannot force the broker to return my money, i would like to ask you that is there any way by which i can get this fraud broker company address or contact details so that I can involve the legal team from India.
Also to bring to your attention this fraud broker made me do all the transactions via binance app. Frankly speaking, i am very new to this trading world, not having any knowledge about ctrader, binance and trading XAUUSD. I did what all things this fraud broker asked me as they always trapped me by saying it's very easy to earn in gold trading even after i denied and requested this broker to return my $1200.
Also just few days back when I replied and updated my complaint thread in ctrader community forum. 2 to 3 people contacted me via telegram and mobile and informed me that they have also get scammed and cheated by the same broker TGC the Global Capital Exchange. The reason I am sure it's the same broker is because the person name who called as financial advisor from TGC broker was Arjun Raghav, he used same pattern to put people in trap, firstly he will tell you to invest $200 - 17000 INR and they will provide training in forex trading, once you have invested $200 than he will play the card of greed saying there is very less profit around $4 to $5 instead you should go for gold trading XAUUSD. But for doing XAUUSD trading you have to invest more $1000. Once you had invested $1000 than he will force you to buy tesla share and will always force you saying that the share price will go up by next 3 to 4 months. And for buying tesla share he will ask to invest more $2000. And once you fall into his trap, he will never give you the withdrawal or return the money. Luckily I didn't invested in tesla as i was getting signals that this broker is fraud in my mind. But unfortunately he trapped me in XAUUSd trading and made me invest $1206 - 1,05,000 INR.
So other people who contacted me by seeing my thread in ctrader community forum had this similar pattern of scamming.
These fraud people are operating somewhere from India and are Indians as well. Because they were communicating in Indian origin language.
I request if PanagiotisChar and ncel01 having any kind of influence in ctrader management to please ask ctrader support team to audit the broker TGC the Global Capital Exchange and if possible what ever this broker is stating in my case please let me know about it so that I can also tell the true facts about what actually has happened in my case
Thanks
Nisha Sehgal
@nishamsehgal33
ncel01
13 Apr 2023, 15:39
RE:
PanagiotisChar said:
What is the conclusion after all?
Spotware should not take any actions on assessing brokers and mitigating the risk before accepting these as clients because that would be an issue. Is it?
The conclusion is that no matter what actions Spotware takes, there is nothing that can prevent brokers from misbehaving, so traders have the primary responsibility of choosing with whom to cooperate and send their money to.
The paradox for me is that we live in an era where well respected banks, regulated by central banks, collapse in one night but traders somehow expect that a software vendor should protect from all dangers and provide them 100% security of their funds.
Panagiotis,
I am happy that you see the perfection on everything that comes from Spotware.
While this discussion is clearly being extrapolated, I am still wondering what conditions, other than being paid, are imposed by Spotware to accept brokers as clients.
Apparently traders cannot even be confident that all the cTrader brokers are regulated. Maybe this follows the logic "No matter what actions Spotware takes".
The obvious :
Like in any business/industry the risk must always be mitigated at the source (upstream), meaning that, as a primary action, Spotware must perform the due scrutiny to not welcome any potential harmful brokers as clients. No one needs to be an expert in management to know this. Furthermore, as you may know, it is Spotware that makes brokers available to the traders and not the opposite.
Even though it can be convenient, it is for sure not very ethical to accept brokers without any condition other than being paid, while only blaming traders when these get assaulted within Spotware's own "house".
The real paradox is to adopt the motto "Traders First" while conducting such a careless policy, among many other, and still victimize.
Although this can be hard for you to hear/accept, the evidence speaks for itself.
Maybe, after all, this is only part of the motto.
@ncel01
ncel01
13 Apr 2023, 16:00
Hi nishamsehgal33,
I don't have any kind of influence within Spotware, nor Spotware have any kind of influence on me.
I use this forum with same purpose as any other trader. The only difference is that, unlike most of the users, I always like to be clarified on inconsistent/contradictory matters instead of letting them go unnoticed.
@ncel01
PanagiotisChar
15 Apr 2023, 10:46
Hi ncel01,
Obviously we will not agree as it is a matter of different worldview so there is no point of discussing further. I am of the opinion that I should not rely on third parties to save me from the obvious wrong decisions. I don't connect to every facebook account just because it's on facebook, I don't respond to any email I receive just because it's a Gmail account, I don't shop from every store I find on Amazon, just because it's on Amazon. All these service providers have processes in place but you can still bypass them get away with it. The same way I don't trade with any broker just because he offers cTrader or he is regulated. I put my brain to work first. Others just trust the third parties and then blame them if something goes wrong.
Have a nice day!
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@PanagiotisChar
ncel01
17 Apr 2023, 20:34
( Updated at: 18 Apr 2023, 00:26 )
Hi Panagiotis,
Could you please be more pragmatic?
I am yet to know what conditions, apart from being paid, are imposed by Spotware to accept brokers as clients.
I put my brain to work first.
It's curious how some brains can get to work on this while Spotware does not.
I am also of the opinion that traders should not rely on any third parties. However, unlike you, I am also of the the opinion that a "third party" which is in fact an intermediary (Spotware), must also act responsibly and put in place mitigation plans to prevent any possible connection between harmful brokers and cTrader users.
Not considering that a broker must be, at least, regulated, as a necessary condition to accept it as a client, is a very negligent/careless way to conduct such a business.
If this is asking too much from Spotware, there is nothing else to be expected, I am afraid.
This is clear as water to me and to 99.9% of the cTrader users, I believe.
It is not new that finance is, by default, not a very reliable business. So, I assume that Spotware is not expecting cTrader users confidence on its business to be boosted when adopting such a policy.
Regarding your example(s):
I imagine that the companies you mentioned do not officially sign any contracts to get fake accounts created. On the other hand, I can be almost sure that these companies appy contingency plans to prevent/mitigate these kind of situations.
Amazon: you will get refunded (Guarantee Protection).
Moreover, none of these companies directly operate in the finance sector so, let's not compare what is not comparable by default.
Have a nice day you too!
@ncel01
nishamsehgal33
22 Apr 2023, 09:15
RE: RE:
nishamsehgal33 said:
Spotware said:
Dear trader,
The issue is investigated and relevant actions will be taken.
Best regards,
cTrader Team
Hi CTrader Support Team,
Could you please update as what action/ investigation has been taken/done till now against the broker TGC The Global Capital Exchange.
Regards,
Nisha Sehgal
Hi Ctrader Support team,
Could you please update what was the outcome of the investigation and what relevant action has been taken against the broker TGC - The Global Capital Exchange.
Thanks & Regards
Nisha Sehgal
@nishamsehgal33
nishamsehgal33
22 Apr 2023, 09:21
RE: RE:
nishamsehgal33 said:
Spotware said:
Dear trader,
The issue is investigated and relevant actions will be taken.
Best regards,
cTrader Team
Hi CTrader Support Team,
Could you please update as what action/ investigation has been taken/done till now against the broker TGC The Global Capital Exchange.
Regards,
Nisha Sehgal
Hi Ctrader Support Team,
Could you please update what was the outcome of the investigation and what action has been taken against the broker TGC Global Capital Exchange.
Nisha Sehgal
@nishamsehgal33
quintanbarnes
29 Aug 2023, 19:54
( Updated at: 30 Aug 2023, 05:22 )
RE: Withdraw funds without broker
ncel01 said:
Hi Panagiotis,
Could you please be more pragmatic?
I am yet to know what conditions, apart from being paid, are imposed by Spotware to accept brokers as clients.
I put my brain to work first.
It's curious how some brains can get to work on this while Spotware does not.
I am also of the opinion that traders should not rely on any third parties. However, unlike you, I am also of the the opinion that a "third party" which is in fact an intermediary (Spotware), must also act responsibly and put in place mitigation plans to prevent any possible connection between harmful brokers and cTrader users.
Not considering that a broker must be, at least, regulated, as a necessary condition to accept it as a client, is a very negligent/careless way to conduct such a business.
If this is asking too much from Spotware, there is nothing else to be expected, I am afraid.
This is clear as water to me and to 99.9% of the cTrader users, I believe.
It is not new that finance is, by default, not a very reliable business. So, I assume that Spotware is not expecting cTrader users confidence on its business to be boosted when adopting such a policy.
Regarding your example(s):
I imagine that the companies you mentioned do not officially sign any contracts to get fake accounts created. On the other hand, I can be almost sure that these companies appy contingency plans to prevent/mitigate these kind of situations.
Amazon: you will get refunded (Guarantee Protection).
Moreover, none of these companies directly operate in the finance sector so, let's not compare what is not comparable by default.
With the rise of blockchain technology and decentralized finance, the option to withdraw funds without a broker has become a game-changer. This allows for greater control, transparency, and potentially reduced fees. To explore this trend further, check out https://icoholder.com/en/nft for insights into the evolving landscape of non-fungible tokens (NFTs) and their impact on financial autonomy.
Have a nice day you too!
very nice
PanagiotisChar
20 Feb 2023, 09:18
Hi there,
Your funds are held by the broker, only your broker can return them to you.
Aieden Technologies
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@PanagiotisChar