[Resolved] Olymp Trade — Blocked My Account and Not returning my hard earned money

[Resolved] Olymp Trade — Blocked My Account and Not returning my hard earned money

Y yashmittal05 from Bengaluru, Karnataka Mar 18, 2022

@Olymp trade. I deposited 100000 Rs on Olymp trade on 16th March using Phonepe .I made two transactions of 50000 Rs each to deposit .After the amount got deposited I did two trades of 100 and 200 Rs. which yielded in a overall profit of Rs.334 So the account balance became 100334 Rs. Soon after that they blocked my account and my money was withheld with them. I tried contacting customer support through various means but always they key on saying the same thing . It's a very disappointing experience for someone newbie into trading like me. Trusting Olymp platform I made a mistake of depositing such a huge amount which is very hard earned.Please stop eating people's hard earned money. I seriously request Financial Commission or RBI to take strict action against them. My Olymp Details are as follows: Registered Email Id: [protected]@gmail.com Olymp Account No: [protected] Date of this issue: 16th March Below I am attaching screenshots of the deposits made in olymp trading account: +2 photos Was this information helpful? No (1) Yes (4)
May 18, 2022 Complaint marked as Resolved The company did not resolve my complaint and always provided lame reasons for blocking my account.I even gave the exact reason for doing transactions but they didn't accepted it.They didn't unblock my account.and my money is gone .They did a big fraud with me. Olymp Trade customer support has been notified about the posted complaint. Verified Support Mar 18, 2022 Olymp Trade Customer Care's response Hi there, yashmittal05! It's a pity that your experience did not match your expectations. You have also made many more deposits than you attached in the screenshots. In case of violation of the Service Agreement, the Company is legitimate to block your account and withhold funds on it. Non-trading Transactions Regulation and KYC/AML Policy: 2.1. The Company may deem a non-trading operation suspicious if: • Abuse of transfers (deposits to the Client's account, withdrawals from the Client's account) without intention to perform trading transactions or with low/insignificant trading transactions volume is discovered... You can read more information at the link: https://olymptrade.com/pages/terms/non-trading-transactions/ If any questions appear, kindly get in touch with us. Best regards, Olymp Trade team. Verified Support Mar 21, 2022 Olymp Trade Customer Care's response Hello, yashmittal05! We understand your disappointment. If you do not agree with the decision made by the company, you can appeal to the Financial Commission, which is our regulator. To do this, follow the link: https://financialcommission.org/olymp-trade/ You need to click on "File a Complaint" and fill out the form. The Financial Commission will consider your complaint and Company's arguments and then make a decision that is mandatory for the Company. Do not hesitate to contact us if any questions or concerns appear. Best regards, Olymp Trade team. Verified Support Apr 08, 2022 Olymp Trade Customer Care's response Greetings, yashmittal05! Your account has been blocked for violating the Service Agreement. In this case, funds are not withdrawn. If you want to appeal this decision, you can file a complaint to the Financial Commission. Best regards, Olymp Trade team. May 18, 2022 Updated by yashmittal05 My complaint is not resolved yet. I am not aware as to who marked it as resolved. Verified Support May 18, 2022 Olymp Trade Customer Care's response Hello, dear yashmittal05! Thank you for contacting us. You independently marked this review as resolved. We will be glad if you add a new comment as soon as your case is resolved. If you require any further information, let us know. Best regards, Olymp Trade team.
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Comments

Bibihajara

from Bagalkot, Karnataka

May 18, 2022

Hello my self BIBIHAJARA.. My account got blocked yeastday... I have 500 usd in my account.. During verification my account got blocked... I am new to this i dont know wht to do.. I borrowed money from my friend now thy blocked my account what about my deposited money.. Do I get full money back of 500 usd..

Olymp Trade Customer Care's response, May 18, 2022

Verified Support

Greetings, dear Bibihajara!

Thank you for letting us know about this. Please specify your Account ID. So we can sort out the situation and provide you with an answer here.

Or you can contact the independent department in our company which works in such a situation via email [email protected].

Best regards, Olymp Trade team.