[Resolved]  Olymp Trade — Manipulating Payout

Registered Mail: [protected]@gmail.com
I like to inform you that Olymptrade Department is trying to manipulate me for my payout amount. Firstly, they blocked my account for a reason that I'm a trading a asset in both direction(i.e. 2 trades) from same point and I'm utilizing my bonus in both trades so that I can make some profit in spite of losing any one trade. According to them, I abused their bonus system and this is my dishonest way of trading.

My olymptrade account got blocked on Dec 10, 2021 for above reasons, and just 20 min before getting blocked, I deposited INR 64500 and INR 8500 were already in my olymptrade wallet making total deposited amount of INR 73, 000. Beside this, there is also my one ongoing withdrawal of INR 3135. The mail I received, related to block of account, in that they have clearly mentioned that Payout amount is 961.92 USD ( Refer to Supporting Document 1) which is around INR 73, 163.
From this amount, they paid me only INR 16, 791.83. When I asked the claim department about rest of the money, they replied, "The amount of the deposit, except for payments previously made and funds used in trading, has been returned to your UPI [protected]@ybl on 11.12.2021. Amount: 16, 791.83 INR The remaining funds are withheld in accordance with section 8 of the Service Agreement: 8.5". ( Refer to Supporting Document 2).
When I didn't get satisfied with them, I again raised my mail to them. After this they have paid 10, 939.39 INR more. Further they said, this is the only amount that you will get from our platform and they are apologizing for incorrect information sent previously.( Refer to Supporting Document 3)

I haven't abused their bonus, perhaps this is my way of thinking that how can I utilize my money efficiently, and when olymptrade finds that this user is making profit in every trade, they simply blocked my account. Olymptrade has no rights to do this without any warning.
My question to Olymptrade is that why are they manipulating me, Since 4 days, there customer service is also telling me that I'll receive whole amount i.e. mention in my final mail and I have call record also.
As now, they are telling your payout will be calculated by analysing previous history of deposited and withdrawal, so your payout amount is around 363 USD only and apologizing for incorrect information sent previously, In this I want to say, don't apologize, in the same way if I apologize for all my previous trade that I loose, will you provide my money i.e. loss back? AND I know many user which have incurred a loss of[protected] USD or more in olymptrade and if one of them account get suspended, Will Olymptrade will pay money to them from his pocket saying Your Payout amount is "Total Deposited - Total Withdrawal"?
I WANT MY WHOLE MONEY I.E. 962.91 USD INCLUDING ONGOING PAYOUT OF 3135 INR.
Was this information helpful?
No (0)
Yes (0)
Jan 16, 2022
Complaint marked as Resolved 
Olymp Trade customer support has been notified about the posted complaint.
Verified Support
Dec 16, 2021
Olymp Trade Customer Care's response
Hi there, sainivinod735100!

Thank you for contacting us. Your account has been blocked for violating the Service Agreement. You can find information at the link: https://olymptrade.com/terms

"1.8.3. taking actions in concert with other Company Clients aimed at causing the Company damage (losses) and using other unfair and dishonest methods for making trades (transactions) with the Company for the purpose of extracting financial gain from those actions".

Unfortunately, there was a technical failure on the platform when sending an email. Therefore, initially, an email was sent to you with an incorrect withdrawal amount.

Our specialists have recalculation the withdrawal amount and informed you about it in an email. We apologize to you for the situation that has arisen.

The remaining funds are withheld in accordance with Section 8 of the Service Agreement.

"8.5. If the Client breaches any terms of the Agreement and its integral parts listed in clause 1.2, including refusal to undergo the necessary checks and refusal to provide the necessary information, the Company has the right to terminate the Agreement; to void any Client transaction; to close one, several, or all Client trades at any time, at its own discretion; and to stop rendering services to the Client and return funds to the Client or not at its discretion. Any violation of the terms listed in this section deprives the Customer the right to demand payment or refund from the Company."

If you have any further queries, please feel free to contact our customer support anytime at [protected]@olymptrade.com. You can also contact us back on our hotline number [protected].
The support team is available 24/7 at your service.

Best regards, Olymp Trade team.
Complaint comments 

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    By clicking Submit you agree to our Terms of Use
    Submit
    Olymp Trade
    customer care contact
    Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good a company is at responding and resolving complaints by granting from 1 to 5 stars for each complaint and then ultimately combining them all for an overall score.
    Read more
    79%
    Complaints
    1511
    Pending
    376
    Resolved
    1102
    Olymp Trade Phone
    +54 11 5917 5747 [Buenos Aires]
    +27 21 100 3880 [Cape Town]
    Olymp Trade Address
    James Street, Kingstown, , First Floor, First St Vincent Bank Ltd Building, , Saint Vincent and the Grenadines, India
    View all Olymp Trade contact information