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STP Markets

 

 

This page has been set up to describe my experience with the STP Markets binary options site and should be a warning to anyone considering such trading.

A warning re this company was posted just before they moved the website.

None of the email links on the new website work.

www.stpmarkets.co.uk

27th June. The website has now gone. The phone line is dead.

13th July. Charles Matthews called today - Seems they were having latency issues which were losing trades.

If a position is only for 60 seconds, any lag is critical! I think now though that they are lying.

"Charles Matthews" called today 29th August from 01639041280 and 01632850680 both of which are "not recognised". Would you trust him?

July 13th.Settlement date given by Matthews.

This is to be August 18th. Confirmed July 21st. The website should be back "next week" and my account has still been trading. I am to pay the fees balance from the transferred cash. That should be above $109,000.00. The site has not returned.

History

I opened an account with them on Jan 16th, with an initial deposit of £500.00 which they matched with a bonus.This was covered by a TCR. I regard that £1,000.00 as being the base value for turnover requirements.

Bull Markets (BM) funds recovery.

The contact, Charles Matthews then stated that they could recover funds from the platform used by BM if I raised the value of my account by a further £3,000.00 which I did on 20th. February. This was followed by a second request, this time for £4,000.00 (below). This eventually reached them after some confusion over accounts.

NOTE This is signed by the "Admin team", not by Matthews.

Funds recovered from BM

I was advised on 6th. March that they had recovered £23,500.00 but that my account deposit needed to be £10,000.-- A further £3,000.00. At this point the addition of the recovered funds "incurred charges of £380.00 a day". I agreed to settle this - paying for one day. This £3380.00 was sent on 7th March and has cleared according to Charles Matthews. This does not, however appear on my account. I was also assured at this point by email (below) on 6th March that £6,000.00 would be paid to me instantly.

This cash was sent, but there was no payment made to my account. Note, there is NO mention of turnover or wagering at this point.

NOTE This is also signed by the "Admin team", not by Matthews.

3rd May

They traded yesterday and my account now reads $91,175.70 - Gain of $2,800.00 on the day.

However I have tried to email them on the website link - It failed. Also the telephone number given doesn't connect. "user unavailable - mailbox cannot accept more messages."

16th May

 

Called early today. Matthews is saying that the "will pay £6,000.00 instantly" was in error by him and that they require me to pay over £5,000.00 before I can make any withdrawal at all. This despite the fact that I have already paid in over £10,000.00 which was "according to a senior" supposed to put my account at the correct level.

It was also said that when my account reached $250,000.00 (currently $109,790.70) it would be frozen. That would be until I paid over £5,000.00. It was suggested I borrow that money from someone. Frankly would anyone lend me that much with the history of "mistakes" previously being used as excuses not to pay up?

Deposited amounts.

Initial deposit £500.00 (with added £500.00 bonus.)
Second deposit £3,000.00
Third deposit £4,000.00
Fourth deposit £3,380.00 (including "penalty" of £380.00.) This does not appear on my logged in account.
Grand total £10,880.00.

Current listed account value.

This is now supposed to be $109,790.70 and they have stopped trading on it.

August 29th. Two more calls from Matthews

Matthews now tells me that he was again in error on July 13th. It is "company policy" to take fees up front "because of the escrow company". During the conversation the line went dead, so I used 1471 to recall and got "the number you have dialled has not been recognised*". He called again, still stating I have to pay £5,980, but can pay in instalments !!! He also said that the funds in my account are now £105,498 and that it is not being traded. He said I should call him back when I got the funds. At that point I mentioned *. He made no comment. 1471 on his second call gave a different number - also not recognised!

Page created 29th. April 2017. Last edit 29th August 2017.