Who is Swift Trade? only kidding. We are only concerned with our business we do not look at other firms nor comment on their business model. We really have enough to do in our own camp.
If you agree to refund deposits in 30 days you should never miss the deadline regardless of how many traders you have. what are you doing for the first thirty days? Can't you cut a check on the 29th, or for that matter the first?
HLV let's be honest here and not misrepresent. The interest is the "profitability of the traders". shouldn't that say we are interested in how profitable a trader is to the company. If the main interest was traders making money I am sure you would be more discerning in who you "hire?"
If the agreement says they can wait 30 days, their going to wait till the last day to collect every penny of interest they can. to take it further, in a lot of cases a business takes their deposits and put a bulk of it short term products, so they need the lead time to make sure they have the cash on hand and not locked up. The point of a business is to making every last penny you can. Any and every business owner would do the same.
frankly, if some sap is leaving with $5000, i would give him the money regardless of 30 day agreement. What I do believe though is if the agreement says 30 days, their is no justifiable excuse to missing the deadline.
I have experiences where HLV is consistently late on their cheques. The worst thing is that their staff tells you that the cheques were sent out a week ago, but it never arrives until 2 or 3 weeks later - if we are talking about the contract, HLV does not follow it at all, and I fear that my deposit won't ever be refunded back to me.
I am starting a thread to follow my repayment of monies from HLV. Their policy states a 30 day return of money on closing of an account. I requested my account be shut and monies returned on the 31st of March. There are 30 days in April and so my cheque should have been cut at least 3 days ago. When I write to HLV I receive no response and am told to go to the next department. I feel this is the only way to get something moving as HLV only seems to respond when called on their actions openly. I will write in again tomorrow and the next until this matter is closed.
hopefully everything will be back to normal. To all HLV Traders: The NASD has given us a 100% guarantee that we will be able to resume trading as of tomorrow morning. We have heard many rumors over the last few days in regards to the viability of HLV. Many naysayers have said we were bankrupt and going out of business, plus a number of other false statements. We can assure you that HLV is in good financial standing and will continue to grow and prosper. Again, we apologize for the inconvenience and we look forward to years of success ahead of us, with you as our partners. HLV Capital
Good to hear. It was good the management was prompt in responding to clear up any fears, although there's no explanation whatsoever, which wouldn't console me 100%. But then, that's probably a matter internal to HLV.