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TraderXP Broker Discussion

SystemSystem Posts: 164 admin
edited January 2015 in Brokers
There have been reports that this broker is having issues satisfying withdrawal requests of clients. This is obviously a situation that generates a lot of concern as no sane trader will put money in a brokerage that cannot meet its obligations to clients. It is safe to say at this time that it is better not to invest money with this broker until the issues regarding withdrawals are cleared up.

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    TraderXPTraderXP Posts: 2
    Dear Errol,

    TraderXP is a professional Trading Company with clear terms and conditions listed on our website for all clients to review at any time. The regulations surrounding withdrawals and bonuses are standard for the majority of trading companies. A bonus is a specific amount of funds given by the company to help clients achieve their profit goals, yet they require the specified turnover volume to withdraw any profits made from them, since the bonus money is provided by the company. We have many clients who succeed at reaching their turnover and have profited greatly from their investments. If you have any further questions or concerns, feel free to email our customer support team at .

    Maria Carmen
    Customer Support
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    TraderXPTraderXP Posts: 2
    Dear John,

    TraderXP is a professional trading company which follows the standard regulations mandated by the majority of trading companies. Bonus money is provided to clients who agree to take them for the purpose of increasing their investments and reaching higher profit goals. Being that bonus money belongs to the company, our clients are obligated to trade with the company for a longer period of time. The rules of TraderXP surrounding the bonus money are standard in the industry and are clearly written out in our terms and conditions. The bonus money is for the sole purpose of assisting our clients with their long term investment goals and yield exceptional results when handled wisely. If you have any further questions or concerns, please email our Customers Support team at .

    Maria Carmen
    Customer Support
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    PeteDanePeteDane Posts: 1
    For Dollars On Demand, I can say that it is simply a binary options advertising addictive strategy. From their videos they promise ensure profits, but the real purpose is to create an account with a broker binary options and to make a deposit, from which they earn commissions. Do not expect real gains from this because their glorified software is actually the most simple stupid robot for automated betting. I have personally lost over $ 4,000 in less than 24 hours without even know and be able to react in some way. The robot is not on your computer, on some server, where "work for you" around the clock and you can not control it. In the evening you go to bed calmly to sleep, in the morning go to work and evening when you get home and open the computer, tingling horror. Try to do something, contact your broker, but he says "You traded with the software not me!!". The only thing you can expect from the brokers is to try to get you to make as soon as large a deposit as they promise you big bonuses and great deals. My broker Mazen Obaida of TraderXP even afford to do more. TraderXP sent me an email -'' 300% bonus on your next deposit! That's right, on all deposits! You can get this bonus every time you fund your account from now until December 31st! ". When I deposit $ 200, Mazen Obaida called me on the phone and told me that for this amount will not give me a bonus. Talk to me longer, but my English is not very good and I told him I did not understand and I prefer to write e-mail or Skype, so I can translate. He said that this is not necessary, it's that simple. I hung up and I saw that he changed my deposit amount of $ 2,000. I could not believe that this is possible, but he did it and then allegedly asked me on the phone. He completely ignored my preferences for communication. Just do what he wanted. TraderXP condition of withdrawal of money is to be turned over 20 times greater than the deposit and bonus and past one month. I just wanted to try with a small amount, but not to risk so much money. Stupid robot immediately started working and I could not even stop the things to look for a solution. Initially the robot working 50/50%, and that reassured me a little, but the next day I experienced the terrible story which I described above. To stop the robot I changed my password in TraderXP. Unfortunately, I had not thought to do this the day before. I'm so sorry that I caught in this trap, I hope my story can help someone not to be deceived in this way.
    I apologize for my English - is not my first language.
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    lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited March 2014
    Don't feel bad, word is any deposit you make with traderxp would not ever be seen again anyway as they DON'T HONOR WITHDRAWAL requests at all and soon I will have them on the *BLACKLIST/AVOID* page...

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    tommytommy Posts: 1
    I report my experience with TraderXP as follows:

    On 3 Mar, 2014, I opened an account at TraderXP deposited $250 into the account. After I opened the account, I received phone calls almost every hour from the day I opened my account, kept asking me to jet up the account to their Gold level($5000) so as to receive their 1 to 1 service. I refused them every time. However, about a week later, on 11 Mar 2014, they just debited my credit card for $5000 without my permission directly!

    And they keep asking to put another $5000 in the following week so as to increase the account to $10000 so as to get a so-called “generous 50%” bonus. I rejected and hang up the phone every time.
    I felt something was not right, and I submitted my withdraw request the next day, they just cancelled my request within half an hour without my permission! Immediate after had cancelled my request, they followed by putting 50% Bonus into my account even I did not ask for and rejected to take their bonus.

    And it’s been over 3 weeks after I submitted my withdrawal, I have not received from them and the withdrawal request on the Banking History is still in Pending status. I emailed them numerous times to their CS support, but no response.

    I reported my story to my bank on 18 Mar 2014, the bank said they will do an investigation on the matter.

    After 3 weeks’ time of my withdrawal request, I have been keep emailing TraderXP’s CS and the account manager, Mazen Obaida, for withdrawal. But no response from the CS, non from the account manager, and my withdrawal request is still pending.

    On 2 April 2014, I received a call from another guy, Adam, asking me to open a trade claiming that if I can follow his instruction, I can double my money in my account and withdraw half of the account. If I am not going to follow his advise, he will open the TRADE HIMSELF and TRADE FOR ME until he blow up the whole account.

    Besides, he kept saying that I must follow his instruction before I can make any further withdrawal!

    Don’t you think it is a BLACKMAIL?

    Don’t trade with this company. I have lost over $5000 and experienced the worst customer service in my whole life. And what’s more are my ID copy and Bank account numbers and credit card number are fully exposed to this company!

    This company is an absolute scam!

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    lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited April 2014
    Simple solution do a CHARGEBACK tell them you will record all future calls/conversations for submission to the authorities. TraderXP is a KNOWN SCAM BROKER You should have done your due diligence first before every signing up with any website always look at reviews forums ect ect. On a bright note due to TradersXP history banks will refund you, but you have to inform them and go through the process immediately. Make the point there were unauthorized charges...
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    Mario1962Mario1962 Posts: 1
    Mazen Obaida is a con.
    I got assigned UKOptions through Copy Buffet. Mazen Obaida was working for them at the time.
    After I deposited the £250, I got a call from a lady telling me that I would do better with £500 in the account. As I didn't know any better, I deposited an extra £250.
    Next I get a call from Mazen Obaida.
    I started using the software and was losing most trades.
    After losing £200 I decided to withdraw my money.
    Mazen Obaida called me and kept trying to convince me to not take my money out.
    My withdrawal request was cancelled due to insufficient funds. This was after waiting for over a month.
    I called UKOptions and was told there were active trades. I said it was impossible as I hadn't used the software in over a month.
    I went into my account and the software had been activated and not by me.
    It was doing crazy trades of £125 at a time.
    Someone from UKOptions got into my software and activated it to lose my money.
    I tried getting hold of Mazen Ibaida but no luck.
    He is a spineless, heartless conman.
    Stay away from him and stay away from UKOptions. They are a bunch on cons.
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