Punt2Punt

Anyone know what happened to this exchange?

Any further news on this exchange? They seem to have disappeared without trace!

oh, you said "punt"


whoops..

I had little money there, and they seem, as you said, disappeared without a trace. About a month ago I got a reply to my email, but my return emails do not reach them (get a bounce message). Also sending a letter to their parent company's address did not have any effect (They do not even have any contact details on their own website).

My impression is that they do not want to return the client monies. Of course one could file a complain, but I assume chances of getting one's money back is very slim. Does anybody know if the company was regulated by FSA?

Charlemagne said:

Also sending a letter to their parent company's address did not have any effect (They do not even have any contact details on their own website).

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This is perhaps the number one thing to watch out for when dealing with any sort of Finance company. If there's no address on their website then they have a lot to hide because normal companies don't practice this sort of behaviour.

anley said:

This is perhaps the number one thing to watch out for when dealing with any sort of Finance company. If there's no address on their website then they have a lot to hide because normal companies don't practice this sort of behaviour.

Click to expand...

I agree. However, the contact info was most probably there while the company was in operation. After their parent company ,The Gaming Bourse, run out of money, they took down the punt2punt.com website. For some time email correspondece did work, but like I mentioned, my emails do not reach them anymore.

I will look into ways of getting my money back. I doubt that will succeed. However, I was very lucky not to have much money there, as I still do about 95% of my trades at Betfair. If one wants to be completely safe, then one can only trade with the big names of the industry such as Betfair, IG, City. Presumably those do not vanish overnight. However, one's monies at e.g. Binarybet.com (an IG company) are not protected in any way.

Update to my earlier message: actually I received my monies back from Punt2punt, some days ago. So my fears were baseless and the people behind Punt2punt are honest. Pity that they went belly up - I liked the odds their marketmaker gave.

Thanks for the reply. How did you get your money back? Did they send you a cheque?
I do not live in the UK.
Have you got an address or anything else that will help me contact them?

Once again thanks.

Their email did not work, so I sent a letter to the address one can find at http://www.thegamingbourse.com (their parent company). All my emails were bounced, so I assume it was the letter thad did the trick.

I gave them my banking details, so they sent the money directly to my account by bank wire. I did not have much there, but still it was a pleasant surprise to get it back. Good luck with your efforts!