Exposure: Berndale Capital Forcibly Closed Investor’s Account

      The broker Suspended investor's account due to maliciously trading by software.

Without any official explanations, Berndale Capital stated that the money earned during trading was unavailable for withdrawal.

Recently, one of investors reported Berndale Capital to “Exposure”of FXEYE for the broker refused to withdraw profit and suspended investor's account, and for the problems still weren't solved after repeated communication.

Screenshot of “Exposure” of FXEYE

　　The investor reported Berndale Capital with real name

Photo of the investor’s ID card

Mr. Li reported Berndale Capital with ID card.

Mr. Li's terrible experience

Mr. Li shared his terrible experience with FXEYE

According to Mr. Lis experience, he knew Mr. Wang, the salesman of Berndale Capital, on an exhibition at Changsha, Hunan.

On August 16th, he opened an account and deposited on Berndale Capital through the salesman. During trading, Mr. Li made some profit. However, he received an notice suddenly on September 5th, which read that his account was suspended for maliciously using software during trading.

Then, with doubts, he replied by email, but got nothing from the broker. After Mr Li‘s account was suspended, although he tried to communicate with Mr. Wang many time, the profit earned still couldn’t be withdrawn.

Only principal was available for withdrawal after investor made profit, for which the broker replied that the investor violated the trading rules.

As for the matter whether the violation was true or not, the broker refused to reconsider it, and suspended investors account, causing to withdrawal unavailable.

The actions of the broker were indeed inappropriate.

FXEYE's investigation and evidence

1. Mr. Li received the notice by email

Screenshot of the communication by email between Mr. Li and the broker

On September 5th, Mr. Li suddenly received the email from the broker, which read that his account was going to be suspended for maliciously using software during trading.

2. Mr. Li's account has been suspended.

Screenshot of login interface of Mr. Li’s account

Mr. Li's account was suspended the second day after he received an email. But, Faced with Mr. Li's doubt, the broker didn't give any replies.

3. The account balance of Mr. Li

Screenshot of Mr. Li’s account balance

On September 6th, Mr. Li's account was suspended, in which there were still 5,824 USD that couldn't be withdrawn.

4.Mr. Li communicated with Mr. Wang, the salesman, many times

Screenshot of the conversation between Mr. Li and Mr. Wang, the salesma

Mr. Li contacted Mr. Wang, the salesman, about withdrawal many time after his account was suspended.

Finally, there were still 3,310 USD in his account, which couldn't be withdrawn.

FXEYE's identification on Berndale Capital

>>>>Berndale Capital's regulatory information

Screenshot of regulatory information from FXEYE

According to inquiry, ASIC's MM held by Berndale Capital has been canceled, and now the broker has no valid regulation.

Screenshot of Berndale Capital’s regulatory informatio

Recently, ASIC announced officially that Berndale Capitals license was canceled.

>>>>MT4/5 identification

Screenshot of MT4/5 identification from FXEYE

Through the identification, Berndale Capital used independent MT4 trading software, with the server set up in US and the Netherlands.

>>>>Relationship diagram

Screenshot of relationship diagram from FXEYE

According to the relationship diagram of FXEYE, Berndale Capital has an authorized representative, HongShan, at the same time, it has a related company, BGP.

The broker‘s license has been canceled due to arbitrarily suspending investor’s account.

From the case, we can see that all investors should be alert to the brokers which refuse to withdraw money.

Warning!

Screenshot of Berndale Capital interface from FXEYE

According to the identification, Berndale Capital‘s Australian regulatory license was canceled. Moreover, the broker arbitrarily suspended investors’ accounts and detained their capital, these actions which were illegal.

It is advised that all investors should keep them away from the broker to avoid property losses.

Conclusion

FXEYE has marked Berndale Capital as a broker without valid regulation for the broker's license was canceled.

Thus, it is suggested that investors should be alert to the problem of withdrawal unavailable and safeguard their rights and interests as soon as possible.