[Resolved] Olymp Trade — Customer service asking for hefty amounts for withdrawal

[Resolved] Olymp Trade — Customer service asking for hefty amounts for withdrawal

M mahesh babu k May 8, 2022 Aug 1, 2022 This thread was updated on Aug 1, 2022

I tried to withdraw some money from my assets and everytime it’s getting failed and asking me to check with the customer service. Each time, the customer service people were asking me to pay hefty amounts towards processing fee (which I had paid), then try to withdraw, again failed, reachd customer service, again they asked me to pay some personal income tax which I had paid. Post that, I tried to withdraw, again failed, went back to the customer service, now they’re asking me to pay some more taxes failing which they’re threatening me that the account will be suspended. Looks like they’re making a gamble from not releasing the funds to the customer but getting money from the customer towards the charges. Now all my money got stuck with no single penny left and the customer service was not releasing my funds. I’ve all the screenshots where they falsely promised and guaranteed that the funds will be released once I pay the taxes one by one but they didn’t release the funds. +2 photos Was this information helpful? No (1) Yes (0)
Jun 11, 2022 Complaint marked as Resolved Olymp Trade customer support has been notified about the posted complaint. Verified Support May 11, 2022 Olymp Trade Customer Care's response Hi there, mahesh babu k! Thank you for letting us know about this. Please pay attention that you have written a review for the Olymp Trade platform. As we are not the taxpayer agent of your country, our platform does not charge taxes and we don't pay any taxes on your behalf. As we can see from your screenshots, you were communicating with another company, since the chat on our platform looks different. For our part, we make withdrawals smoothly and quickly without any commissions. If any questions about our company appear, kindly get in touch with us. Best regards, Olymp Trade team. Jun 28, 2022 Updated by mahesh babu k Hello Olymptrade, Any reason/comment why the complaint was in resolved status?
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mahesh babu k

May 17, 2022

Hello olymptrade,

You should be aware of the other fraudulent company using your name and exact logo.

In the attached screenshot, pic 1 to the left is fraudulent and on the right side is yours. So how come you’re not having any issues with trademark license.

Do you mean to say that you don’t have any connections with that fraudulent company?

If you’re already aware of this fact, what actions you’ve taken so far on that fraudulent company to prevent your customers are not falling into their trap as the logos are looking like exactly the same.

Please do your homework .

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

Verified Support

Hello, dear mahesh babu k!

Thank you for keeping us informed. Please specify where you downloaded the fraudulent application. We would also appreciate it if you send us a link.

Best regards, Olymp Trade team.

mahesh babu k's [Complaint's author] reply, May 20, 2022

The below is the url they shared

https://d.olymptradebg.top/

The name and the logo is same as yours. Wondering how come you don’t even have any trademark and logo license issues?

Olymp Trade Customer Care's response, May 23, 2022

Verified Support

Hi there, mahesh babu k!

Thank you for sharing. It's a pity to hear that you have become a victim of fraud. We will do everything possible from us to block this site.

We also recommend that you read the information on cybersecurity https://plus.olymptrade.com/en/help/category/profile/basic-cybersecurity-rules?theme=dark&search=cyber

If any questions appear, kindly get in touch with us. Take care!

Best regards, Olymp Trade team.

mahesh babu k's [Complaint's author] reply, May 25, 2022

Hello Olymptrade,

It will not help me or anyone even if you block that site as that scammer will come up with another domain with the same name.

You didn’t answer me on the point I’ve raised that, they’re using the logo design and the name exactly the same as yours but you want us to believe you that there’re no trademark and copyright issues?

Well, you should be kidding.

Olymp Trade Customer Care's response, May 26, 2022

Verified Support

Greetings, mahesh babu k's!

Thanks for the clarification. We care about the safety of our traders and brand. We have a registered trademark. The use of our materials for mercenary purposes is illegal. Therefore, our lawyers regularly monitor such cases.

Our analysts also provide learning materials to increase the level of users' knowledge about cybersecurity.

Best regards, Olymp Trade team.

mahesh babu k's [Complaint's author] reply, May 28, 2022

Hello Olymptrade,

When you care about the safety of your traders and using your logo and other stuff is illegal, so please let us know what actions you’ve/your lawyers taken so far on that particular scammer using everything as similar to yours?

Olymp Trade Customer Care's response, May 31, 2022

Verified Support

Hi there, mahesh babu k's!

It's a pity but, we, like other companies, cannot prevent the creation of clones or scammers. However, for our part, we use all resources to protect our users.

Namely, we block scammers when we find them on our own or users bring them to our attention. If you are interested in the details of the work of our lawyers, then, unfortunately, we cannot disclose them.

We also warn users about such situations and provide educational material about internet security. This way, we increase the awareness of traders.

Please let us know If you have any questions and what exactly is bothering you.

Best regards, Olymp Trade team.

mahesh babu k's [Complaint's author] reply, Jun 28, 2022

Hello Olymptrade,

By the time you take any action on them and block/ban them, people are loosing their monies here.

Hope you've eyes/ears.

Ron Jairus Quiatzon

May 28, 2022

I’ve been using the same app and they are asking me the same!!! a huge amount of processing fee!!

Dee08's reply, Oct 25, 2022

Hi! I am also experiencing the same. I need to pay 15% Tax from the earnings. How did you go about this??

Ron Jairus Quiatzon

May 28, 2022

olymptrade should make legal actions with this! arent they alarmed that a fraudulent entity is using their exact same name and logo for this!?

Olymp Trade Customer Care's response, May 30, 2022

Verified Support

Hello, mahesh babu k's and Ron Jairus Quiatzon!

Thank you for staying in touch with us. The peculiarity of the work of our lawyers is that they monitor the information field. They use our legal documents and official complaint forms to eliminate scammers.

Unfortunately, we cannot prevent the activity of all frauds on the Internet. However, Olymp Trade is a big company and we use all our resources to improve user cybersecurity literacy and take action against the found violators.

Sometimes, as in your case, users themselves send us links to scammers because they become more educated.

Best regards, Olymp Trade team.

mahesh babu k's [Complaint's author] reply, May 31, 2022

Hello Ron Jairus,

Please do not a single penny to them. They're scammers. The Olymptrade team is doing nothing to prevent them but acting like they're doing everything to protect the investors.

Dear Olymptrade,

You can see yourself how many people are suffering because of your cloned applications, looks alike app. When you/your legal team eliminating the scammers, then where are these fake applications are coming from.

You are making us in an impression that you also part of them by your responses and trying to just convince us by doing nothing.

can you elaborate your sentence "as in your case, users themselves send us links to scammers because they become more educated"... are you trying to blame us even though you see the fake apps using your logo and name?

What rubbish.

Olymp Trade Customer Care's response, May 31, 2022

Verified Support

mahesh babu k's [Complaint's author] reply, May 31, 2022

Hello Olymptrade,

Your understanding is completely wrong as I didn’t ask for your lawyers work.

This is the third time I think, I’ve asked you what action you have taken about the scammer app which is using all your trademark licence.

You don’t need to educate the users but do your job properly. You may seen from the other user also that he/she lost money so it’s keep going and the action from your side is unfortunately blaming the users but nothing.

Sad but pity.

Olymp Trade Customer Care's response, Jun 1, 2022

Verified Support

Hi!

Sorry for the misunderstanding, Mahesh babu k's. You would like to know if we take any actions about this particular app, right?

Best regards, Olymp Trade team.

mahesh babu k's [Complaint's author] reply, Jun 11, 2022

Yes,

Tell us what actions you’re legal team/you had taken on that scammer application which is using all your trademarks (you don’t even have a clue on the same) and skimming our money.

Olymp Trade Customer Care's response, Jun 15, 2022

Verified Support

Hello, dear Mahesh babu k's!

Rest assured that we will complain about this violator and do everything possible to have him banned as soon as possible. Thank you for your vigilance!

Best regards, Olymp Trade team.

Dee08's reply, Oct 25, 2022

Were you able to withdraw the money? I am also experiencing the same

Ram Asra

Jun 25, 2022

https://d.olymptradebg.top I receiv this link of olymptrade from my friend .plz tell me this is original app link or any scam

Ram Asra

Jun 25, 2022

https://d.olymptradebg.top I receiv this link from my friend . I want to know that this app link is original or any scam.

Ram Asra

Jun 25, 2022

Customer service asking for withdraw large amount. That is almost tripple then my diposit

mahesh babu k's [Complaint's author] reply, Jun 28, 2022

Hello Ram,

Please do not pay any single penny to them. they're fraud. they're blocking the account once they received the money and there's no customer service information also to check.

Check with your friend who shared that link, whether they got their money or not.

This so called Olymptrade is not taking any action but just wasting everyone's time.

Please educate to everyone.

Dee08's reply, Oct 25, 2022

How did you proceed with this? Were you able to get your money? I experience the same.

khurram raza

Aug 1, 2022

Is this happening in dubai

Dee08's reply, Oct 25, 2022

Most probably. I'm in Dubai now. And I'm using the same app. And the same customer service. They are asking for 15% of the VAT from my earnings. It's too high so I was still not able to withdraw my money.