Before I found Apex, in Sept. I invested $10,000 in a managed account with Cititrader and took a bonus. The account was to have been traded at a rate so that all funds would be available in mid-Dec. Now I find out that due to mis-management, the account hasn’t been traded adequately and funds won’t be available for another two months. Also, I was assured that I could get $1000, if needed, for emergencies. I have tried repeatedly to get some money to no avail, despite the personal assurances of a senior trader(3 times). My withdrawal request has been cancelled, no funds in my account. I plan to contact The Better Business Bureau,the MN Attorney General"s Office to start. I would appreciate any suggestions. Have you heard of or experienced anything like this? This is just outright fraud it seems to me. Thanks for listening
Non-Nadex - Bucket shop problems
The problem may have been dealt with. After numerous e-mails we may have ironed out some of the problem. It is not a case of fraud, I’m happy to say. I was wrong about that. It is a case of oversite, holiday staff shortage, and communication problems at Cititrader. High anxiety on my part.Sometimes it is really good to be wrong, I’m not happy but am relieved. 'Nuf said
Yes one of the may problems we hear about bucketshops all the time is issues of withdrawling funds.
Even though on their sites they promise “secure and dependable” banking and 24/7 service - even on the one you mentioned - that promise is rarely kept…
Never take the bonuses (they make you trade 20x your deposit to get a single cent back) http://www.cititrader.com/Terms%20of%20Use 12. Cititrader.com ( www.Cititrader.com ) Benefit Policy (as you have learned - just sharing with others) - also the payouts are wretched on the buckets shops
- see the why nadex binaries video under tutorial - nadex - nadex binaries to see what to avoid
Big thing - is read the terms and dsiclaimers - slowly and carefully - you will be shocked by what you find in them
These guys are based out of cyprus - there really is no one to call …you can report them to cftc - they did shut down intrade from taking us clients and order all accounts liquidated to us clients…many of them are starting to stop offering to us clients…which is a good thing as they are often ripping people off
Thank you for sharing…hopefully this will help others avoid this and stick with exchange based binaries like on Nadex