The task ahead is daunting but there is a pathway that at least you can take rather than just do nothing. As I previously suggested, proceed with a withdrawal request and establish what hurdles they put in front of you. Follow the withdrawal procedure they outlined on their website. If they insist that the turnover condition has to be met, then ask them to specify exactly where it is stated in their terms and conditions. If you are to take this issue say to a Fair Trades Commission (if there is one in your country) you need to provide facts including Universe Markets official position to you. There are escalatory protocols in any dispute and should be followed.
The task ahead is daunting but there is a pathway that at least you can take rather than just do nothing. As I previously suggested, proceed with a withdrawal request and establish what hurdles they put in front of you. Follow the withdrawal procedure they outlined on their website. If they insist that the turnover condition has to be met, then ask them to specify exactly where it is stated in their terms and conditions. If you are to take this issue say to a Fair Trades Commission (if there is one in your country) you need to provide facts including Universe Markets official position to you. There are escalatory protocols in any dispute and should be followed.
mike.
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Do exactly what brumby suggests, follow their withdrawal protocol, in the meantime call FOS and ask their advice...
http://www.financial-ombudsman.org.uk/faq/answers/complaints_a2.html
http://www.financial-ombudsman.org.uk/faq/answers/complaints_a2.html
thnx for that mike i am in scotland so this contact details is very help full i will contact them this morning cheers m8t
counter_violent
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It's entirely possible that others will have lodged their complaints with the FOS.
If people don't act then the crooks win. So you must do whatever it takes to keep the pressure on them.
ohh well the good news is that financial ombudsman services are open at 8am in a morning and the bad news is there is nothing they can do as universe markets are not a registered company full stop !
they said only road is legal but i am not going down that road as thats more money down the plug hole ,
they said only road is legal but i am not going down that road as thats more money down the plug hole ,
counter_violent
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What payment method did you use to fund your account?
mpups
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a fool and his money are soon parted...
tell them you want your deposits back or you will be reporting them to the police
https://www.actionfraud.police.uk/report-a-fraud-including-online-crime-questions
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i used my credit card m8t
i have asked for my deposits back but they say i can get them back as i have a bonus i have to service, and being that they are not trading my acount anymore and i dont know how to work it and there is a time factor on the service of this bonus it looks like it will run out and they will then send me a whopping bill the only thing left it would now seem is the fraud squad i have the number now for them and will be contacting them on monday , as said before i never agreed to any bonus not only that if i had then i would of thought they would need a signiture and furnish me with the details of a said bonus
If you are to go to the appropriate authorities that Universe Markets have behaved fraudulently, you need to at least establish such facts and that you have gathered sufficient evidence to present your case. In my view, you have not met the hurdle.
You need to first establish from the terms and agreement that you were provided with as part of your sign-up what exactly did you agree to. With typical sign-on process, you go through a number of steps and agreeing to certain terms and conditions. Your agreement can be as simple as ticking a box that you have read and are in agreement to the terms and conditions and your sign up is completed when you press the enter button. Did you go through those steps? Yes or No? If you did, were you given a set of terms and conditions (usually in pdf) for your records? If you have them, you need to refer to those conditions specified for withdrawals including the turnover conditions necessary for bonus deposits.
There are some information available on their website which in my view may not be sufficiently comprehensive.
Their withdrawal policy
Their bonus policy
The fact that a sum total of $7000 bonus deposit had gone into your account is prima facie evidence you have agreed to avail of it. According to their website, the turnover requirement is 30 times of each bonus dollar deposit. A $7000 bonus deposit would require a turnover of 30 X $7000 = $210,000. This would seem to be a very low threshold requirement and hence I am sceptical that my interpretation of their policy is accurate. Just trading 2.1 standard lots of EURUSD would get you there with a stop of 20 pips and target of 20 pips. The worst case is loosing 20 pips X 2.1 X $10 = $420 to get back your $10,000. As I told you before, you need to establish the facts as I am simply speculating.
The other thing that you mentioned that puzzles me is that you referenced to the fact that they were trading your account on your behalf but has since stopped. Did you provide them with a limited power of attorney? Without it they should not be able to legally trade your account.
If you are to go to the appropriate authorities that Universe Markets have behaved fraudulently, you need to at least establish such facts and that you have gathered sufficient evidence to present your case. In my view, you have not met the hurdle.
You need to first establish from the terms and agreement that you were provided with as part of your sign-up what exactly did you agree to. With typical sign-on process, you go through a number of steps and agreeing to certain terms and conditions. Your agreement can be as simple as ticking a box that you have read and are in agreement to the terms and conditions and your sign up is completed when you press the enter button. Did you go through those steps? Yes or No? If you did, were you given a set of terms and conditions (usually in pdf) for your records? If you have them, you need to refer to those conditions specified for withdrawals including the turnover conditions necessary for bonus deposits.
There are some information available on their website which in my view may not be sufficiently comprehensive.
Their withdrawal policy
Their bonus policy
The fact that a sum total of $7000 bonus deposit had gone into your account is prima facie evidence you have agreed to avail of it. According to their website, the turnover requirement is 30 times of each bonus dollar deposit. A $7000 bonus deposit would require a turnover of 30 X $7000 = $210,000. This would seem to be a very low threshold requirement and hence I am sceptical that my interpretation of their policy is accurate. Just trading 2.1 standard lots of EURUSD would get you there with a stop of 20 pips and target of 20 pips. The worst case is loosing 20 pips X 2.1 X $10 = $420 to get back your $10,000. As I told you before, you need to establish the facts as I am simply speculating.
The other thing that you mentioned that puzzles me is that you referenced to the fact that they were trading your account on your behalf but has since stopped. Did you provide them with a limited power of attorney? Without it they should not be able to legally trade your account.
if you go into a bank to take out or put inn some money then it would not be normal to find out two weeks later you have a mortguage , basicly i have opened an acount to trade then found out some four weeks later i have a bonus of £3,000 which i did not sign up for or agree to if i had then i would presume that there would be some kind of paper work stating all the rules and regs of the said bonus this is 2018 and a provider of anything has a duty of care to provide all the detaile of any said deals , as fr as i am aware if you have a platform manager he is the man that does all the trades not me this has been the case from day one
mpups
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This sounds ridiculous, a genuine business in this industry would let you take your original deposits back whenever you wanted to. Forget the bonus, get back just what you have put in asap and move on.
i agree whole heartedly with you on this only problem is they are a scam out fit and scam loads of people , they operate in the uk with no licence and not registered , and it would seem above the law , but we will find out more on this next week when i contact the fraud squad this is the advice i have been given by my solicitor
counter_violent
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Good, I think you automatically have more protection in place if you used a credit card as opposed to a debit card.
itspossible
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i do not believe that you have given the broker any money at all.
do you have any proof-statement etc.
sounds like a fantasy story m8
do you have any proof-statement etc.
sounds like a fantasy story m8
why on earth would i want to prove anything to you ? dont have the time of day to be responding to statements like yours,
itspossible
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i dont believe a word of what you are saying m8
i never asked you too so just carry on with your day
itspossible
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you say this a copy of the e mail-its the exact language that you use.
its just you making stuff up mate.
you say this a copy of the e mail-its the exact language that you use.
its just you making stuff up mate.
sorry m8t your on a different planet best not comment on things thats far out of your reach you must live in a glass box un aware of the out side world , i am not even going to begin trying to explain anything to you , some forums have got them and this one is no different its got you :clap::clap:
