Investor Encounters Fund Withdrawal Refusal and Extortion on Tradewill Platform

Recently, an investor faced serious issues while using the Tradewill trading platform. Here are the details of the incident:

Incident Details

1.Deposit and Withdrawal Issues: The investor deposited $698 into the Tradewill platform. However, when attempting to withdraw these funds, Tradewill refused the request. The platform provided various excuses and stated that the funds would be confiscated.

2.Extortion: The investor reported receiving extortion attempts from an individual associated with Tradewill via phone and WhatsApp. This person, named Aman with the phone number +91 7666461968, used various methods to threaten and extort the investor, further compounding the investor's distress.

3.Recommendation Proof and Platform Suspicion: The investor provided some recommendation proofs indicating positive feedback about the platform. However, at this stage, the investor believes Tradewill is a scam and suspects its operations are illegal, suggesting that it should be listed on the Reserve Bank of India (RBI) blacklist of unauthorized forex trading applications.

Regulatory Investigation

According to Tradewill’s official website, the broker offers trading services for financial products including forex, crude oil, precious metals, stocks, and indices.

Tradewill Global Limited, a securities dealer registered in Seychelles, is regulated by the Seychelles Financial Services Authority (FSA) with license number SD111.

TradeWill Global LLC is a forex broker officially registered in Saint Vincent with registration number 1365 LLC 2021.

While information about Tradewill can be found on the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) website, the SVGFSA does not regulate, monitor, authorize, or license commercial companies (BCs) involved in forex trading or brokerage activities.

Summary

This incident highlights the importance of exercising extreme caution when selecting trading platforms. If encountering similar issues, investors are advised to retain all relevant evidence and contact regulatory authorities to file complaints. They should also be vigilant against extortion and fraudulent activities on the platform to prevent further financial losses.