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adama544

Adam A.

2
Level 2 Contributor

Contributor Level

Total Points
704

5 Reviews by Adam

4/23/21

They held a deposit for whatever reason (AML? Who knows) and then from that decided to freeze my account.

When I enquired they delayed me with canned responses. In the mean time another 2 deposits came in (from the same person).

They ended up calling the person that made all 3 deposits (1 which was already in my (frozen) account and 2 pending) to confirm that he hadn't been scammed by me. The person confirmed he was happy for all three deposits to go into my account.

They subsequently unfroze my account but the 2 pending deposits never appeared.

It's been weeks of me asking where are those deposits and I am not joking when I say this… they repeatedly, email after email tell me they know nothing about an additional 2 deposits! But they called the sender to ask about them!

To this date they refuse to put into my account $2,500 that they KNOW they have and of course the sender has enquired on his end and his bank is saying that they can't get the money back because Suncorp has the money.

I filed a complaint with AFCA and while awaiting the outcome of this, Suncorp closed my account entirely.

Tip for consumers:
Don't give them your money. They hold payments for "security reasons" and then deny the payment ever existed.

110 Views
4/23/21

Global Prime never contacted me until less than 48 hours about a critical change to my trading account which, if I didn't take action would mean I'd lose tens of thousands of dollars. The change was a huge reduction in leverage.

They tried to help but given the short notice and my trading style the only option was close the trades myself or let them be closed by their system (which would be worse and I'd likely end up owing them far more money than if I just closed the trades manually). They offered me the option to apply as a Pro Trader which would mean I could keep my current leverage and it would solve my problem. I went through the application process and they gave me Pro Trader status. That was Friday night. Then, over the weekend they took that status away, reduced my leverage, and then didn't want me as your customer any more - after 6 years of trading with them.

But in addition to the sucky situation I ended up in because of them, I do feel it's worth really honing in on the fact that they gave me answers to the Pro Trader questions, and that they paid out my remaining funds into accounts where they took no steps to confirm they were actually my accounts. I think that is additional concerning behaviour from a regulated broker in Australia. The largest moral issue I have with them is that they gave me Pro Trader status but then without notice or reason retracted that status and closed my account. What an awful thing to do when there was so much money at stake.

I ended up losing around $15,000 because of them.

When I complained the situation they closed my account entirely and ceased all communication with me.

Tip for consumers:
Avoid them. They take no responsibility in informing customers with sufficient notice about account changes that will ultimately end up in you losing money.

4/23/21

I passed all ID verification (passport, photo of me, photo of me with my passport, photo of me with my passport with a piece of paper with the information they wanted written on it).

I paid $4,000 to buy Bitcoin.

When I went to withdraw Bitcoin they said they wanted to call me. Why? I've passed all your ID checks. They said they tried to call but the number was disconnected. Weird.

So I provided them with an alternative number to call me on. To do that I had to upload a photo of me, holding my passport, holding a piece of paper, requesting the phone number change. Really? That's the first platform I've ever used where I can't simply change my email or mobile number and use email / SMS confirmations to approve the change. But anyway. I complied.

They then said they tried to call me but the number was disconnected. What utter lies. 2 number that don't work?

Around in circles we went, at one point them telling me I needed to send in a photo of me holding my passport... and so on endless "customer service" loop I went.

They even asked me to call them but provided no phone number. When I asked for a phone number they refused to provide one.

As a first time customer and seemingly no way to get my money from them, I'm worried about whether I've been completely scammed or not.

Tip for consumers:
Void them. They make the withdrawal impossibly long and complex in the hope you'll give up and they get to keep your money.

4/23/21

For an unknown reason they said they wanted to terminate my account (that's ultimately their choice I suppose) but there's nearly $2,000 of my money that they have and they won't give it to me.

The initially asked me what account numbers I wanted the remaining money transferred to. I have them the account numbers and they ignored me from then on.

After sending hundreds of emails to them asking where my money was they said I could appeal the decision (what decision? I guess the decision was made NOT to give me my money?)

What a load of crap. I filled in their "appeal" form which simply asked me for my name and then a submit button. It said they'd review my appeal and I'd get a response in 10 days.

What a bizarre process and they're just delaying things and then getting me to take some other step so they delay things further.

I've come to the conclusion that they're never going to give my money back meaning I have to file a complaint with ACMA and take them to small claims tribunal.

Complete SCAM company.

Tip for consumers:
Avoid this company. They'll arbitrarily close your account and keep your money.

Products used:
General banking and transfer products

Service
Value
Shipping
Returns
Quality
21.2K Views
3/29/21

I spent 4 hours with their online chat and it seems their goal is to take your money and then wear you down in online chat with broken English until you give up.

Complete SCAM

Tip for consumers:
avoid - complete SCAM

Products used:
nothing - they stole my money and gave me nothing

Service
Value
Shipping
Returns
Quality

Adam Has Earned 4 Votes

Adam A.'s review of TransferWise earned 2 Very Helpful votes

Adam A.'s review of MTC Game earned 2 Very Helpful votes

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