BinaryOptions.net Forums Complaints

CHERRYTRADE: SCAMMING ART

wvectorwvector Posts: 2
Before sending your money to these scammers you should first start with this site:
http://www.scamadviser.com/check-website/cherrytrade.com
This review is based on real story; my story.
Cherrytrade is a sophisticated scamming buziness, they learned a lot from the competition and they try to find elegant ways to fool people.
You can open an account; trade, play and loose money ; but from the moment you ask for a withdraw mechanisms to fool you more enter in action.
- No more phone calls.
- Zeroing your account
- Locking your account (experienced by other traders)
- They simulation on sending funds to you with with faked account numbers and wrong amount.
- They will request your account info many times (i sent them 10 times)
- Lot of emails to keep you quiet (to not alarm the other traders)

I opened an account by wire transfer.
- They got the money but they do not make active until you call and to be nice to you they give you a bonus (that i refused see)
- When you check your account they do not put the amount you sent but always 50$ less and the when you complain , they add you a bonus the missing part. (if you accept, you are screwed). I insisted on having an email that say that it’s not a bonus but my money.
- After loosing few hundreds, i understood that it’s time for a withdraw from Cherrytrade.
The impossible withdraw:
.They sent me an email saying that i have a bonus and therefore i have to trade 30 time amount wired + the bonus.
. I sent the proof that was my money.
. they let wait weeks before saying, there is a problem with my bank account as it got rejected. What a shame:
.They simulate a wire transfer to a unknown bank account and even
the amount was wrong (they lied to me many times this way).
. they requested the banking info ; what i sent back. (same lies)
. they ask for my family or friend banks account ( for what ? i let you
guess).
. after 2 months, they ask me to send 200$ with my credit card so they
can give back all the amount + the 200$). Another lies
In” the term of uses” for all this scaming business, it’s cleary written
That Wired money cannot be withdraw on a credit card.

Again they request my credit card number to make the withdraw for me.
Another attempt to fool more.

Saying that, i do not believe that i will ever get my money back, but will warn all the people on the Internet, that Cherrytrade is a SCAM.
I am not the only one who got screwed by theses thieves.


Only affiliates say good things about cherrytrade and i consider them accomplices of this scamming business

The funny thing is that the same guys who were saying good words about Cherrytrade are treaded as scammers by this community (freeman, watchdog, etc ...)
When you try to write a bad review about cherrytrade on their site, they remove your comments.

Comments

  • wvectorwvector Posts: 2
    just added emails as proof.
    docx
    docx
    zero_account.docx
    157K
    docx
    docx
    scammingProcedure.docx
    142K
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited February 2015
    Cherry Trade is a derivative of TradeRush and Magnum Option seems to also be the same derivative as well Redwood, each of these Israeli based brokers that seems to be owned by TradeRush are building numerous complaints across the board. Now you have Magnum trying to get brand recognition well not cool. Each and every one of these are Spotoption Israeli based scam brokers. I would stay far away from... Red Tulips is an analogy going back to the tulip craze of the dutch where many lost it all in a mad flurry of over speculation and was the main reason Settlers/Pilgrims left for colonies in the America's due to the corrupt behavior that lead to this btw..

    image
    RedTulips.png
    583 x 367 - 85K
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited February 2015
    Let me think of some names for these guys like Yaniv Yovitz ok here we go - WASP computed name generator - Try to make sure to include numerals to show linage from time to time.. LoL

    Jermery Yardsworth IV

    Warner Huntington III

    Chazz Farnsworth

    Jeremy U.A wasp

    Connie Mann

    a Tribute to made up Israeli broker names...
  • KasshKassh Posts: 9
    Well, as far as I know, they are regulated in the US. Residing in Europe I would never trade with them..
  • ninja_bodotnetninja_bodotnet Posts: 232 admin
    Kassh said:

    Well, as far as I know, they are regulated in the US. Residing in Europe I would never trade with them..

    They are not regulated at all.
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