Heed the Forex Peace Army warning, keep sending them some emails, but don't put too much effort into it. But do your due diligence before depositing next time.
Tell them you would be making their emails to you public. Did you say they are a sponsor on ET? Drop Baron a PM.
Totally understand your point. One of my good friends also encountered a similar situation like you. His broker held his over $8000 deposit for almost one year and refused to give any reason. In the end, he gave up that deposit but kindly post on ET for warning other traders.
A while back I created a thread exactly about that! Check it out. http://www.elitetrader.com/et/index...ding-to-transfer-capital.291510/#post-4122587
I gave this up already. They simply won't process it. However this made me feel uncomfortable because any broker can do this with us regardless of their place of incorporation.
Thanks I think I'll give it a try during this month. We'll see. Btw I made my research about this and large companies in London, UK used (maybe still using) this method to pay bonuses to their managers because the top capital gains tax rate is just 28% while the highest income tax 45% plus other levies so they instructed their highest paid employees to open a position with a certain currency pair and they opened on the opposite side. This way they paid millions of pounds and both parties avoided a lots of taxes. After a while HMRC (UK tax authorities) said it's tax avoidance and they have to pay up the difference however they did this on a large scale. Other companies in the finance sector still using this method because it's literally impossible to detect the transactions with banks, hedge funds and insurance companies.
Now they have cleared my entire balance, the withdrawal is still pending and my account says that I have a negative balance... I think it's time to contact them again.
It means they are transferring your money. I guess they've been reviewing your trades to ensure the "sincerity of your trading". I've used them ( for high leverage as you understand the power of leverage), and so far they have always been ok.
Not really. According to their e-mails it looks like they have cleared my entire balance plus according to them I owe them money. They don't process my withdrawals. Luckily as a European they have to sue me in Europe so good luck for them because here they have to provide evidences about what they say not like in Russia. I do not want to visit that country ever in my life so they can modify my balance to -$10 billion if they want. Btw it's totally unbelievable in 2015. But yeah, Russia is Russia.