Ambiguous business policy

Asked about 3 years ago - Brooklyn, NY

I got involved in online trading with Tradersroom.com. At that time, they had a promotion, which they called bonus that if i deposited $5k, i would get $2500 bonus. When i realized i was losing all my money and had $5029 in my account with Tradersroom, and wanted to withdraw the money, they told me i needed to leave $2500 of the bonus. They did not specify, at any time, that the such called bonus was in reality a loan. Now i am losing this money that i pretended to invest for college. What can i do?

Attorney answers (2)

  1. Richard C. Southard

    Pro

    Contributor Level 19

    Answered . This is why you should always read the fine print. As with most offers, there are always strings attached. If it was as simple as depositing $5000 and getting an immediate 50% bonus on your money, they would be bankrupt within a week. You need to reread the terms of the offer and I am sure you will find the restrictions that they are applying now. If by some chance they do not, I suggest you contact the Attorney General's Office but I would be astonished if they weren't there.

    All answers are for information purposes only. Answering this question or any future questions does not form any... more
  2. Michael David Siegel

    Pro

    Contributor Level 15

    Answered . Your case will be governed by your agreement. I am fairly certain you are required to do a NASD arbitration. Thus, you cannot just sue. This is hard to do without a lawyer. Plus you have a hard case.

    Michael D. SIegel, Esq. Siegel & Siegel, P.C. One Penn Plaza Suite 2414 New York, New York 10119 212-721-... more

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