Unethical Broker - They confiscated my deposit balance
I am compelled to write this review to warn potential clients about T4Trade's unscrupulous business practices. After trading successfully and building my account from an initial deposit of $1,078.04 to a total of $1,954.33 (including $876.29 in profits), T4Trade suddenly closed my account (account number 11225029) and confiscated the ENTIRE amount. While brokers may have policies about profit removal in certain circumstances, confiscating a client's original deposit balance is completely unacceptable and likely violates financial regulations. My deposit money was legitimate and properly sourced. I have contested this decision through their complaint process, but their responses have been inadequate and dismissive. They refuse to provide clear justification for taking my personal deposit funds.
Key issues:
- Removed deposit balance without valid justification
- Poor customer service and complaint handling
- Violation of their own Terms & Conditions
- No clear appeals process I am considering reporting this matter to financial authorities.
No legitimate broker should be able to simply take clients' deposit money when they become profitable.
Reply from T4Trade