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Eightcap didn't allow withdraw after I made profit, instead imposing baseless and illegal reasons to deduct principal and profits.
I was introduced to the Eightcap platform by a friend and deposited $1100 on March 13th for trusting his recommendation. On Friday evening, I placed a long position in crude oil, betting on the weekend market. The platform did not adjust leverage due to the US-Iran conflict, and I operated within the permitted limits. As a result, crude oil rose on Monday, and my account profited approximately $11,000. On March 19th, I applied for my first withdrawal of $12,000, which went very smoothly and arrived quickly. Emboldened by this successful withdrawal, I deposited another $1299 using the same method to go long again on Friday, March 20th, betting on the weekend market. The market also rose on Monday, and this time my account profited approximately $20,000. However, when I applied for a withdrawal, the platform refused, citing so-called "violations of regulations," and deducted a total of $22,702.28 (principal and profit). They also sent a long email in English accusing me of "arbitrage" and other issues. I am deeply confused by this, as I placed all orders manually, and my trading methods were exactly the same both times. The reason why the first withdrawal went smoothly without any feedback, but the second time a slightly larger profit resulted in the forced deduction of the principal and being deemed a violation, which clearly indicates that the platform doesn't want to pay out profits and only wants to absorb losses in this gambling scam. This platform claims to have an Australian license, but in reality, it's using that license to commit fraud. The account manager disappeared immediately after the withdrawal issues arose. Therefore, we solemnly warn all forex traders to stay away from this platform to avoid financial loss.
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FX9549872626
03-24
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