Mehmet Selçuk Ada SLCKADA
TR • 12/15/2024
Breach of Contract and Unfair Practices
(UPDATE) I successfully passed all the required phases and followed all the rules in the contract with Crypto Fund Trader. However, they accused me of exploiting the system to pass the evaluation, which is completely false. The reasons for Crypto Fund Trader refusing my payment are based on the following points: 1- Large Positions and Position Sizes: The company claimed that my position sizes and the number of positions were unusually large. However, my trades, especially in terms of profit and loss differences, were within normal ranges and aligned with healthy trading conditions. In Phase 1, the position sizes in ETH and LINK, as well as in Phase 2 with APT, LINK, ETH, and SOL, were all consistent and in line with a healthy trading strategy. And I did not use more than 20% of the margin 2 - The Claim of Leaving Negative Positions Open: Crypto Fund Trader claimed that I left negative positions open while closing profitable ones. This claim is completely incorrect. In Phase 1, I had 7 losing trades, with the largest loss being -545$, which was closed using a stop-loss. These trades were: -202$ , -255$, -135$, -570$, -375$, -233$, -112$ in total, 1882$ of losses were closed using stop-loss. In Phase 2, I had 18 losing trades, with the largest loss being -971$, and again, these were closed using stop-loss. These trades were: -363$, -114$, -490$, -822$, -996$, -184$, -6$, -122$, -219$, -234$, -178$, -15$, -12$, -57$, -44$, -170$, -544$, -138$ in total, I closed 4708$ of losses using stop-loss. If they claim that I only left negative positions open, how is it that I closed 1882$ (Phase 1) and 4708$ (Phase 2) in losses successfully? 3- Balanced-Based and Equity-Based Applications: In Phase 1, I passed the Balanced-Based target of +8% 108,000$. However, my Equity-Based calculation was around 106,000$, or +6%. Nevertheless, Crypto Fund Trader locked my account and sent an email saying, "You have successfully passed Phase 1." In Phase 2, the same situation occurred: my Balanced-Based calculation exceeded the required +5% 105,000$, but my Equity-Based calculation remained around 104,000$, or +4%. Yet again, Crypto Fund Trader locked my account and sent an email stating, "You have successfully passed Phase 2," and told me I could request a withdrawal. However, Crypto Fund Trader refused to pay me, citing "taking an unfair advantage of the balance and equity functionality." If there is indeed a ‘’BUG’’ in your system, why should this be my problem? Why am I not allowed to increase my Equity-Based balance, even though I passed the Balanced-Based phase? Conclusion and the Company’s Unfair Practices: The “malicious strategy” accusation from Crypto Fund Trader is completely false and misleading. The explanations they provided are inconsistent with my actual trading practices. I successfully completed the 50k$ Ascend account and received my payment, using the same strategy. I failed with the 100k$ Ascend account. Despite passing the 100k$ Ascend account, the system confirmed my success, yet I did not receive my payment. The unfair practices of Crypto Fund Trader undermine investors’ trust. I believe that investors like me, who follow all the rules and trade successfully, deserve transparency and fairness. The company is not trying to resolve the issue, but instead, they are defending their position with unfair reasoning. The purpose of this review is to share my personal experience and urge Crypto Fund Trader to be more transparent and honest in their practices.