Unable to withdraw my funds
I signed up with Snapcashbinary on the 28th October 2017 to start trading binary options as I had heard that this was a very lucrative way of making money. I was then re-directed to Zoomtrader whereby I paid in a minimum requirement of $250 to start trading.
I then got a call from a person who said if I deposit another $250 then they would give me a cash bonus of $500, which I did. We started trading and the broker helped me start making money. Then he asked me to deposit another $1000 to make a higher trade and guaranteed a profit, which I also did and made $400.
Then I wanted to test the system and requested that $1325.50 (the maximum amount you can withdraw at one time) to be paid back into my credit card account after which the broker called me and said that if I wanted to continue trading then I need to cancel the withdrawal request, again which I did.
Then he asked me to deposit $5000 and said we could start making a lot more money, but I do not have access to that much money and refused. He then started getting very abrupt and pushy with me. I then decided to request the initial withdrawal amount of $1325.50 which was on the 3rd November 2017.
After weeks of waiting for my money I emailed Zoomtrader repeatedly to which I received no response, until I sent a more direct email to find out exactly what is going on. I received a reply from them saying that my withdrawal has been rejected as I need to trade my bonus, then I can request a withdrawal. I informed them that this was not acceptable and insisted on getting my money out of the account, which is now at a balance of R2416.50 (including the $500 bonus).
They did not respond to my request and I then sent a further email saying that I would like to withdraw the total amount I invested which was $1500 and they can keep the balance, including my winnings and bonus.
As of today (7th December 2017) I still have not received the $1500 and was told to read the fineprint, ie terms and conditions.
I think this is a con and they want me to trade my bonus so I can lose all my money and then cannot claim anything back from them.
I called my bank and cancelled my credit card in case of ***** as they have all my details, including a copy of my drivers licence, a copy of my credit card as well as my FICA address.
My bank said that they cannot assist or refund me the $1500 as I processed the payments to them. I just can't believe that a company such as Zoomtrader that has been in business since 2012 can get away with this and as they are not based in South Africa, I have no recourse.
Would you be able to assist me in this area? Hellopeter has helped me twice in the past with favourable response from the 2 South African companies I had issues with, therefore I thought if there is anyone who could assist it would be Hellopeter.
Thank you Suzi Bilyard