have a laff on me !!

paul2u

Junior member
21 1
hi guys hope your all making a buck! and thanx for taking me on board if you have time sit down and have a read !

firstly i did not know anything at all about trading but i know a little now, the hard way
i kept seeing adds on face book to join up from £250 and start trading so i went for it and got an acount opened being told a broker would contact me this is two days before xmas 2017 , he phoned me that afternoon and a long conversation too place where i detected he needed more cash , i was very dubious about this so he said i will show you what i can do and get back to you , at 9pm that night he phoned to ask me to now look at my acount , i got a shock it was up to £800 and i saw the trades he did
so i gave him £2,000 which is all i had at the time but this did not seem to be enough lol now i know different however time passed and the balance went up and he kept phoning for more money i ended up giving £10,000 over thinking this would do the trick as i have now found out about platforms , this manager was very poor at giving imformation out on to how all this works i had to glean what i could of google , but he keeps phoning for more money , so i told him that was it no more then i decided to jack it inn and call my money back just what i put inn only, i got an email back saying i cant as i agreed to a bonus which i most certenly did not , he then said as i dont want him to be his manager any more i will have to service this acount which i cant as i will loose all the money in one go lol , i then went back to check all the deposits and all the trades and find there is £3,000 i cant acount for , with the knowlage i have now it would seem that this bonus was slipped inn right after i had paid my first £2,000 making it to £5,000 and then getting me on the platform which would seem what he wanted , i never agreed to anything and i never signed any documents for any bonus
since then my acount has done nothing for the last five weeks and sits there with £17000 inn it , so the fact i cant work this platform and he wont work it things dont look so good so i have set my mind now to a write off job and loose it all
unles you guys know different , the companies name is universe markets

ok you can all call me a clown now :whistling
 
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mike.

Senior member
2,101 709
Ok Paul, your a clown..:LOL::LOL:

Only joking pal, welcome to the forum..Firstly your priority has to be to withdraw that cash back into your bank somehow.. If you stick around here then you can soon learn how to trade with as little as a couple of hundred quid, But that's not priority at the moment...Have a quick read here...http://scambroker.com/universe-markets/
 

paul2u

Junior member
21 1
Ok Paul, your a clown..:LOL::LOL:

Only joking pal, welcome to the forum..Firstly your priority has to be to withdraw that cash back into your bank somehow.. If you stick around here then you can soon learn how to trade with as little as a couple of hundred quid, But that's not priority at the moment...Have a quick read here...http://scambroker.com/universe-markets/

yes thanx Mike not so shure its going to be easy if at all i get my cash back i have tried but they say i can as i have a bonus which i did not know about lol but i live in hope
 

paul2u

Junior member
21 1
Ok Paul, your a clown..:LOL::LOL:

Only joking pal, welcome to the forum..Firstly your priority has to be to withdraw that cash back into your bank somehow.. If you stick around here then you can soon learn how to trade with as little as a couple of hundred quid, But that's not priority at the moment...Have a quick read here...http://scambroker.com/universe-markets/

cheers for that mike i seen this already all beit too late lol the joys of being human act first think later :LOL: not so shure i can get my money back the ocount is open and not moving at all
 

Quantt

Established member
944 59
Record all continuations with those scammers and get the authorities involved, file a police report right away.
 

mike.

Senior member
2,101 709
cheers for that mike i seen this already all beit too late lol the joys of being human act first think later :LOL: not so shure i can get my money back the ocount is open and not moving at all

If they are a broker then Im assuming the money you paid them went into your account with them, Then a bonus was added at a later date, There is a paragraph in their t&c's about withdrawing the bonus ive linked below, There should be no reason why you cant withdraw the remaining balance though...
Quote:
"To withdraw your bonus, you will be asked to perform a trading volume of at least 30 times for each $1 bonus. The bonus can be withdrawn only when the foregoing stipulation has been fully respected and fulfilled. Any withdrawal of funds from an account made before completing the terms of bonus will be immediately canceled and removed from the account.
Any indication of fraud, manipulation, cash back arbitrage or other forms of deceptive or fraudulent activity based on the provision of the bonus will invalidate the account and any profits or losses collected".

https://www.universemarkets.com/terms-conditions/
 

paul2u

Junior member
21 1
If they are a broker then Im assuming the money you paid them went into your account with them, Then a bonus was added at a later date, There is a paragraph in their t&c's about withdrawing the bonus ive linked below, There should be no reason why you cant withdraw the remaining balance though...
Quote:
"To withdraw your bonus, you will be asked to perform a trading volume of at least 30 times for each $1 bonus. The bonus can be withdrawn only when the foregoing stipulation has been fully respected and fulfilled. Any withdrawal of funds from an account made before completing the terms of bonus will be immediately canceled and removed from the account.
Any indication of fraud, manipulation, cash back arbitrage or other forms of deceptive or fraudulent activity based on the provision of the bonus will invalidate the account and any profits or losses collected".

https://www.universemarkets.com/terms-conditions/

yes i read all that in their terms and conditions mike but i never agreed to any bounus at all so i dont see the need for me to be bothering with that after all they would need to have some contract made up that i would have a copy of not only that there would need to be a more detailed acount of what happens and time factors , aslo i am not trying to get there mone4ys i am only trying to get the moneys i put inn to it they can keep any profit
 

Brumby

Established member
593 139
yes i read all that in their terms and conditions mike but i never agreed to any bounus at all so i dont see the need for me to be bothering with that after all they would need to have some contract made up that i would have a copy of not only that there would need to be a more detailed acount of what happens and time factors , aslo i am not trying to get there mone4ys i am only trying to get the moneys i put inn to it they can keep any profit

Bonus deposit conditions are typically standard across the industry including that of withdrawal. However as pointed out to you, the overall t & c does not prevent you from withdrawing your own funds only that the bonus deposit will be forfeited. Since you are not concern about the bonus, in theory there is nothing in the way of stopping you from withdrawing your own funds. If you are facing specific hindrance in withdrawing your own funds, that is not apparent from your post.
 

paul2u

Junior member
21 1
Bonus deposit conditions are typically standard across the industry including that of withdrawal. However as pointed out to you, the overall t & c does not prevent you from withdrawing your own funds only that the bonus deposit will be forfeited. Since you are not concern about the bonus, in theory there is nothing in the way of stopping you from withdrawing your own funds. If you are facing specific hindrance in withdrawing your own funds, that is not apparent from your post.

hi Brumby this is a copy of the email i was sent when i told him i want to shut down the acount maybe i am not reading it right

Dear Paul,

I don't understand what is what you say but i have no problem to close your account and return your funds.
Remember that you have received and accepted a Bonus from us when you started your account and this means that you need to generate a Turn Over
until be able to close your account. since you don't want me managing your trades and specifically wrote that you want me to stop trading for you from today. its you that need to generate the turn over and when you done you can withdrawal all your funds including the profits and continue with your life and what ever you do.
 

Brumby

Established member
593 139
hi Brumby this is a copy of the email i was sent when i told him i want to shut down the acount maybe i am not reading it right

Dear Paul,

I don't understand what is what you say but i have no problem to close your account and return your funds.
Remember that you have received and accepted a Bonus from us when you started your account and this means that you need to generate a Turn Over
until be able to close your account. since you don't want me managing your trades and specifically wrote that you want me to stop trading for you from today. its you that need to generate the turn over and when you done you can withdrawal all your funds including the profits and continue with your life and what ever you do.

According to their t & c, it does state a withdrawal condition : "There is a minimum trading amount (turnover) that needs to be reached before a withdrawal can be placed. The turnover is determined from the total amount of all the deposits into the account. The amount of deposits is equal to the amount of the minimum turnover." How the turnover condition is calculated is beyond my comprehenion. In any case I think you have a bigger problem as per review below.

http://www.itisreviewed.com/universe-markets-reviews/

This broker is unlicensed and hence unregulated. You effectively have no legal recourse. If you had paid by credit card there might be some protection but otherwise I think you are screwed.
 

Brumby

Established member
593 139
i will have to service this acount which i cant as i will loose all the money in one go lol

so the fact i cant work this platform and he wont work it things dont look so good

You don't have a writing style that is easy to understand. What does it mean by your statements to the effect that you can't operate the account? Does it mean you don't have access or that you don't know how to operate the account/platform?

This universemarket operator is sly with a build in withdrawal condition even absent bonus. If they don't entertain your withdrawal request because you have not met your turnover condition then you can't complain because you have not lived up to your end.

I would suggest you take the following steps.
(1)Reply to their email stating that you wish to forgo the deposit bonus and only wish to withdraw the funds that you actually deposited.

Their likely comeback will probably be that you have not met the turnover condition required to meet withdrawal condition.

(2)You will then ask them to clarify what turnover conditions that you will need to meet. This needs to be bedded down with clarity so there is no ambiquity of what needs to be met. This includes time limitation.

The next step will depend on how onerous the turover condition really is. I can only advise an exit strategy based on that condition and that is assuming this unlicensed broker will honour their end after you meet the condition.
 
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paul2u

Junior member
21 1
According to their t & c, it does state a withdrawal condition : "There is a minimum trading amount (turnover) that needs to be reached before a withdrawal can be placed. The turnover is determined from the total amount of all the deposits into the account. The amount of deposits is equal to the amount of the minimum turnover." How the turnover condition is calculated is beyond my comprehenion. In any case I think you have a bigger problem as per review below.

http://www.itisreviewed.com/universe-markets-reviews/

This broker is unlicensed and hence unregulated. You effectively have no legal recourse. If you had paid by credit card there might be some protection but otherwise I think you are screwed.

thanx for that brumby i kinda figured i was screwed , my own stupidity for not dooing more reserch before comitting myself , as i said i did not agree to any bonus and have an email saying i dont need to have one yet some how i have ? but as you say they are unregulated so i am scrwed hey ho a hard pill to swallow but it will be done life is far to short , to be living a night mare
 

Quantt

Established member
944 59
What about the police/small claims court? I can't believe you have to do follow their "withdrawal conditions" to get your own money back!

I am not in the U.K. but for this amount of money I will definitely talk to a lawyer at least!
 

paul2u

Junior member
21 1
You don't have a writing style that is easy to understand. What does it mean by your statements to the effect that you can't operate the account? Does it mean you don't have access or that you don't know how to operate the account/platform?

This universemarket operator is sly with a build in withdrawal condition even absent bonus. If they don't entertain your withdrawal request because you have not met your turnover condition then you can't complain because you have not lived up to your end.

I would suggest you take the following steps.
(1)Reply to their email stating that you wish to forgo the deposit bonus and only wish to withdraw the funds that you actually deposited.

Their likely comeback will probably be that you have not met the turnover condition required to meet withdrawal condition.

(2)You will then ask them to clarify what turnover conditions that you will need to meet. This needs to be bedded down with clarity so there is no ambiquity of what needs to be met. This includes time limitation.

The next step will depend on how onerous the turover condition really is. I can only advise an exit strategy based on that condition and that is assuming this unlicensed broker will honour their end after you meet the condition.

sorry about the poor way i put things across brumby what i meant was i can get into the acount and i can press buttons and trade what i ment by cant is i cant operate it with the knowlage i have at this moment in time

they have not clarifyed and detailed conditions other than i have to trade the acount to work off a bonus i never agreed to in the first place , if i was able to work the acount with some decree of sucsess then i might manage to work this bonus off but at this point i would loose the lot and that might be worse , i am of the frame of mind to to dump them and take the loss on the nose leaving the acount dangling for ever in space ! peace of mind has a price too looks like mine is £10,000 am am not about to take on legal fights which will most likely go nowhere other than a solicitors pocket lol,
 

mike.

Senior member
2,101 709
I think your going about this in totally the wrong way Paul, Nearly everyone on here has accounts with brokers, they can withdraw their money at anytime..Ok, you opened an account not fully understanding what you were letting yourself in for and was promised great riches, but that should not mean that you cannot withdraw your money as and when you wish..as for writing off 10k due to learning a lesson, total madness...I would be rigging the building with explosives for anything over a £100.

You need to pursue this vigorously to the end, don't let these cowboys win.
 
 
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