trixum
05 Jun 2020, 10:52

RE: RE:

sylowuk said:

PanagiotisCharalampous said:

Ηι sylowuk,

The exact terms of how commissions are charged are described in our EULA.  Quoting from there

Performance fee is paid as percentage of realized and unrealized profits generated by the Strategy. It is charged at the end of calculation period, one month. It is also charged at the moment you remove funds or stop copying the strategy.

When the strategy provider stops providing the strategy then consequently you stop copying the strategy and fees need to be paid. Nobody forces you to follow the strategy again. If you think the strategy provider is cheating then do not follow him again.

Best Regards,

Panagiotis 

Join us on Telegram

What a joke!

So in other words your saying that its true “ No one is forcing you to follow them “ even though they can scam you out of commission, its my fault as im using this platform? Not no this is wrong or that shouldn't be allowed. Lol

 

I totally agree with you this is a clear abuse (to say the least) of the T&C (EULA). Please check my post also. This cannot go without a fight.... I've escalated to broker just now

trixum
05 Jun 2020, 09:25

RE:

PanagiotisCharalampous said:

Hi trixum,

The EULA says that fees are charged when the sub account stops copying the strategy. There is no distinction between who initiated the stop. Also your account is protected by a high watermark. Therefore there is no way for performance fees to be double charged. The fee collection period is just an arbitrary setting and what you describe can happen no matter when the fees are collected. They can be collected at thirty days and then the strategy to run into a loss. At last, it is your own decision to start following the strategy provider again. if you are not happy from the fact that a strategy provided has stopped the strategy and collected fees for profits generated up to that point, nobody forces you to follow him again.

Best Regards,

Panagiotis 

Join us on Telegram

Nobody when they read the EULA thinks it's an arbitrary period, because it's not. It's clearly written 1 month. And why? to protect the users!!!  This is how i read it and decided to use the service, because anybody with little experience in forex knows how volatile it is. And today profit, can be tomorrow losses. So, one month protects the ups and downs of the accounts.

Now, if a trader stops the strategy (3x!!!) to accrue profits whenever his results jump, anybody with reasonable reasoning, knows it is not correct.

Don't pin point to me why I followed back, just wonder why there is an intentional violation of the EULA to make higher profits and why cTrader or anybody that foresees the EULA enforcement is not looking at it, even worst, after I highlighted it (and i'm not the first) they just simply and sadly close their eyes on a clear abuse!!!

trixum
05 Jun 2020, 09:12

RE:

PanagiotisCharalampous said:

Hi trixum,

Please note that this is just a community of users and not an official support channel. We do not provide official support to traders as they are not our direct clients therefore there is no escalation process. If you want to submit an official complaint, you need to talk to your broker with whom you have a direct relationship.

Best Regards,

Panagiotis 

Join us on Telegram

Fair enough, I just came here because my broker redirected me here... (IC brokers)

trixum
05 Jun 2020, 06:02

RE:

PanagiotisCharalampous said:

Hi trixum,

There is no specific question in that post. What reply do you expect? The fee payment conditions are clearly described in our EULA.

Best Regards,

Panagiotis 

Join us on Telegram

 

The EULA says:

Performance fee is paid as percentage of realized and unrealized profits generated by the Strategy. It is charged at the end of calculation period, one month. It is also charged at the moment you remove funds or stops copying the strategy.
Performance fee is subject to High Water Marks. High Water Mark principle ensures that you do not charged twice for the same performance.

EULA when refers to stop copying the strategy is from customer side, not provider, as it is obvious!

Are you trying to close your eyes on something here? Why your customers that pay your salary (BTW) are being hurt here without any action from cTrader or any type of acknowledgement??

The provider stopped the strategy several times in a month to prompt payments on hyped profits!!! How come this is acceptable by cTrader???