OneTwoTrade

somi

So upon my request for withdrawal they have emailed me back the only way they can process my withddrawal is if i put the money i deposit to work by waging it for full amount of 20% will be taken off my money.

This is unbeliveble and cannot be legal. Any suggestion what should i do now. If i wage that £1000 i risk loosing it, i dont want to do that anyway bcz i lost trust on them.

JoeCrystal

somi wrote: »

This is unbeliveble and cannot be legal. Any suggestion what should i do now. If i wage that £1000 i risk loosing it, i dont want to do that anyway bcz i lost trust on them.

It is in term and conditions which you agree to. You signed up to this without reading the full facts. It does not matter what the sales person tells you, the devil is in the writing. It is always in the writing! Sorry but there is no beating around the bush.

somi

I wasnt shown T&A but sold by guy who in fact phoned me regularly for 2000 deposit. this is totally wrong and dishonest, i paid deposit in good faith but now they are saying 20% we keep.

I have had trading accounts other places, nobody does it like this. This is wrong and i now think this is scam and should consider lucky that i did not deposit 2000 for their bonus scheme.

i only put my depsit few days ago and did not even trade.

khush12345

Hi everyone,

Onetwotrade is really awful. Please do not fall into the trap of upto 80% returns!! They seriously just take your money and take forever to give it back along with all the charges they apply!! Very awful. Would not recommend them at all !!!

insideman

This company is full of a bunch of cowboys selling a dream to both its customers and its employees. As an employee I was told to sign up 5 people (friends and family) and get them to open up accounts with onetwotrade with a £200 pound deposit. We were constantly given speeches from our trainer Reece who by the way failed to teach us any sales techniques or anything useful at all and by the company owner Alan Levy who had apparently bought virgin cosmetics, which was at the time making serious loses of Mr Branson himself and turned the company around to making major profits. We were told that Richard Branson then begged for Alan to sell the company back to him at a ridiculous mark up but then could not manage the company correctly and then business closed down. I find it VERY hard to believe that Alan Levy can do anything with a business the Sir Richard Branson can't and tried to research this amazing man to see if I could find out more details about him. Several searches on google found NO TRACE of this man whatsoever ANYWHERE not even on the onetwotrade website look for yourself.
One of Alan Levy's ways of convincing us as employees to con our friends and family into trading with this company was to tell them to deposit only £200 (who really has that spare nowadays??) and that if they did just 5 trades for just £10 each without a win they could easily withdrawal their money having only lost £50 but gaining the priceless experience and advice of trading that onetwotrade offers. THIS IS A LIE!!! as we was clearly told by our militant trainer Reece, anyone who opens an account with onetwotrade cannot withdrawal their money until they have turned it over at least once through trading; therefore if you trade the full £200 but loose every trade you loose all of your money, its in their t&c's again look for yourself. Whats more as an employee, for the gullable ones who do sign up 5 people, their clients are then passed on to the other 10-15 brokers who have already been in the company for a while and the new employee is left to start from scratch again calling old leads from previous employees, all the while YOU ARE NOT GETTING PAID FOR THIS. Having read other reviews from customers I can see that onetwotrade treats them just as bad. Too many things about this company don't add up and anyone would be a fool to trade with them or work for them THIS COMPANY NEEDS TO BE SHUT DOWN IMMEDIATELY!!!! Just for the record I am not a scorned employee and I wasn't fired I just think its disgusting that the trainers and particularly the owner try to brainwash everyone that walk through their doors and its a shame that some employees fall for it and end up putting their own friends and families in difficult situations. Personally I am going to report this company to every authority I can and have plenty of evidence to back myself up. PLEASE DON'T GET SUCKED IN BY THE FAKE REVIEWS THIS COMPANY HAS WRITTEN FOR ITSELF!!!! If you are considering trading with them my advice would be to take a trip down to their offices based in Aldgate and have a look around for yourself. They don't even have computers and frankly it is laughable considering the company is owned by a multi millionaire and backed by "billionaires" who have invested in it.
If you really want to trust your money and investments in the hand of a bunch of young people who are hired without having to have any experience in sales or the financial market whatsoever do so at your own risk.

EricDe

I have had an account with OneTwoTrade for about two years now. I never deposited high amounts (probably about a hundred pounds in total) and have actually managed to build my account to over 400 pounds solely by trading. Unfortunately I did some rash consecutive trades (too large, too risky) and most of it has evaporated again over the last year or so.

As I now don't have enough time to focus on it anymore and hardly any funds in the account left I would like to close the account. However, it is very hard to find out how to simply close the account (I don't care about the remaining funds, it's a few quid). Their support pages seem to have technical issues and I can't find any instructions on how to close it.

I could just ignore it but I assume they take the 'no trade this month' fee out of my current balance. What will happen when that reaches zero? Doubtful they will close the account...

Does anyone know how to close the OneTwoTrade account?

IAN_ROLFE

does anyone have anything recent on this. Is it legitimate, safe and real or a scam???

jimjames

IAN_ROLFE wrote: »

does anyone have anything recent on this. Is it legitimate, safe and real or a scam???

Surely the fact that any positive post above is by someone who has just joined and only commented on this thread tells you something!

I'd tend to believe the post by the alleged ex-employee rather than any of the others by first timers.

If you really want to do spread betting why wouldn't you use a regulated company in the UK? There are no guarantees with any form of gambling so any company that is claiming 70% return is 100% scam.

IronWolf

IAN_ROLFE wrote: »

does anyone have anything recent on this. Is it legitimate, safe and real or a scam???

Based on the comments here I would definitely avoid.

There are a lot of legitimate and reputable spread-betting companies if you want to gamble on the markets, no need for these 'binary options' at all imo.

RealTrader

Im sick of reading poor reviews for OneTwoTrade, I use this trading platform and have done for some time never had any issues, excellent service and great insights into the market. I found that trading with them really helped bridge the gap between an expert and inexperienced trader. Whats with all the fuss about non FSA/FCA regulation I swear that banks are and look what they did, Its not a scam guys get on it and see for yourselves.