Complaint Review: spotfn - Internet

The Short Story

Deposited $2000 into SpotFN and my money was gone within 2 weeks without me ever making a single trade or giving permission for my money to be traded for me.

The Full Story

I recently opened an account with SpotFN through Stan Lutz's 2014 Millionaire site (2014millionaire.co). On the 2014 Millionaire website there is a video that explains that with their trading signals software, you can turn $250 into Millions. The only requirement is that you have to open a brokerage account through SpotFN and deposit a minimum of $250. It was explained that this money would still be mine and that I could withdraw it at any time. I decided to go forward with the deposit procedure of $250. once I made the deposit I was told that i would have access to the 2014 Millionaire trading signals software which I could use to make intelligent binary options trades on the SpotFN site. None of this happened. I emailed the support team at 2014 Millionaire to try to figure out the problem and only got extremely vague replies that never addressed my issues. In the end, a total of 25 emails were exchanged with no resolution. Shortly after I deposited my $250, I received a call from Brian Morgan. He called to welcome me to SpotFN and proceeded to talk me into investing more money. I was very confused because the 2014 Millionaire site said all I would need was $250 to use their software at my own pace. I explained this to him and he completely ignored me and went forth with his sales pitch. At this point I had no idea how 2014 millionaire and SpotFn had any affiliation. Was this guy gonna help me get my 2014 Millionaire software running? Did he even know what 2014 Millionaire was? Was he setting me up with a different broker that was going to trade my money for me? With all these questions going through my mind, he proceeded to talk me into investing more money. He said that it would be very difficult to turn $250 into any kind of real profits. At first he asked me to deposit $5000 additional dollars, Then $3000, Then he said he would give me a $3000 bonus if I just invested $1700 more. He assured me with a total of $5000 in my account, A broker could work with me and turn that money into hundreds of thousand of dollars. So I fell for the pitch and deposited 1750 additional dollars into my account. of course this money was still mine to withdraw at any time right? Wrong! Once I accepted the $3000 bonus, I had to match 30x the bonus for my money to be mine again. so basically once my account made $90,000, I could withdraw my money. I then was asked to Email a copy of my ID and credit card I used with the 1st 12 numbers blacked out. Then digitally sign a contract stating that it was my intention to deposit these funds into the SpotFN account. This did not seem strange to me as i had to do similar procedures when I opened up my Ameritrade account.

Days had passed. I Had $5000 just sitting in my account with me still emailing 2014 Millionaire trying to figure out how to implement this magic invisible software. This is when I decide to call SpotFN. After being disconnected a few times, I finally get to talk to Aiden Smith. I tell him that I signed up through 2014 Millionaire and I'm confused about the software I was supposed to have access to so I can start making intelligent binary option trades. He told me that he would fix everything and that I would start being able to use the software the next day. Finally I felt I was getting somewhere. The next day I logged into my account to find that my $5000 balance was now at $4750. I was extremely shocked because a had done nothing at all. I pressed no buttons or made any trades. I then get a call from Leah Thompson welcoming me to SpotFN again. She then proceeds to tell me that because I'm under the $5000 balance, I don't qualify to have a senior broker handle my account. If i just deposited more money, she could get me working with a senior broker. I explained to her that I had $5000 in my account and $250 of it was automatically traded and lost for me without my consent. She said that wasn't possible, we went back and forth for a bit, then we were disconnected. I then try to call back. Now I'm talking to Veronica. I explain to her my situation and she asks me "What are you complaining about?" Her argument was that I deposited $2000 and now my account was $4750 as if I made money. Again I explain that I had $5000 in my account and $250 was traded and lost through multiple trades through something called Ladder Trades. She then tells me that I don't know what I'm talking about and that only two call trades in the amount of $25 were made. I try to explain to her that I can send her screen shots of the transactions. She continues to tell me I'm wrong and that she's looking at my account right now and only two trades of $25 were made. I asked her if she knew how to do math and walked her through the equation. "Whats $5000 minus $250?" She replies "$4750." I tell her thank you and asked if she could help me figure out how to stop this automatic trading of my funds so I don't lose all my money. She then hangs up on me.

I am now starting to panic. I try calling SpotFN multiple times. I would finally get through to someone just to get disconnected. this happened several times. Finally I get through to someone after hours of trying. I talk to a woman who puts me through to Paul. Paul is a supervisor so he should be able to help me. He of course tries to get me to invest more money(Unbelievable)and gives me a pitch. I explain to him that I have no interest in investing any more money. All I want is to have my account not be automatically traded for me. He said that my account was on a third party auto trading software and because a third party has control over my account he couldn't turn it off. He tells me to email SpotFN customer support and they will take care of it. I email SpotFN anxiously waiting for a reply.

The next day I log into my SpotFN account. My balance was now at $250. My stomach dropped. I look at the expired positions section of my SpotFN account to find that eighteen ladder trades in the amount of $250 at exactly 9:44 GMT on August 20th 2014 were executed and lost. I can continue telling you about all the hours of trying to get resolution to my problems to no avail. How I talked to Kimberly Jackson who admitted something went wrong with my account, then became unavailable and refused my calls. Or Collette Rlussea who told me to invest more money to recover my lost funds. According to her two men by the name of Ken Kaughman and Richard Morrison were the third party on my account. Who in the world is Ken Kaughman and Richard Morrison??? Is there any action I can take against this company that blatantly stole my money?