wow - july! that’s crazy, mine was sept, which could almost make sense.
Yep, July, August, & September. Three deposits. July is the oldest one in question. Which is ridiculous… like I said, global economy. Money can be moved almost instaneously these days. That’s why I’m very suspicious of the emails from CCM.
I just received another email from Capital City Markets. It looks as tho they might have someone reading this thread. Or, others are voicing the same complaints that we are.
Again, this email does not contain their contact information & advisory warning at the bottom. Which also makes me suspicious.
This is not the “complicated situation” that they are saying it is. It is their job to to vet & do due dilligence in choosing a payment processor.
——->>>
We apologize for the inconvenience, confusion and frustration that our earlier email and card dispute request may have caused, but our number-one priority always has to be the safety of client funds.
Sadly, recent actions by the payment service provider that processed your deposit has caused us to question their integrity - forcing us to ask affected clients to dispute their transaction via their card issuer (bank/financial institution).
To do so, please reach out to your card issuer (bank/financial institution) and explain that you wish to dispute a charge due to Services not provided - you will be able to find details of affected transactions on the Funding > Ledgers page of your Client Area.
** This ONLY affects card deposits made to CCM accounts
If your card issuer has follow-up questions (or is unwilling to process the dispute) then please let us know immediately - our prime objective is the safe return of your funds, and we will do whatever is required to ensure that. Please remember that we are available 24 hours per day (UCT) from Monday to Friday, and will be extending support hours this weekend to ensure that all clients get timely responses to their questions.
We particularly wish to thank those clients who have already been in touch and were so understanding of the situation.
Here are answers to some common questions:
Q: How do I know which card(s) / transactions are affected?
A: If in doubt, please email us ([email protected]) right away - we will be able to provide any transaction details you may need, but you should be able to find the information you require by looking on the Funding > Ledgers page of your Client Area.
Q: I deposited months ago! You said the funds the funds were on my account!
A: Yes, but this is a complicated situation. Payment service providers accept payments on behalf of a merchant (i.e. CCM), but the funds charged to a card are not instantly deposited with the merchant. Instead, they are held by the payment service provider for a period of time in case of later disputes between the client and the merchant. It is perfectly normal for payment service providers to hold a large rolling reserve which merchants are forced to accept, and the perceived risk (Forex is considered high risk) determines the percentage and hold time of that rolling reserve. In order to offer faster transaction times, merchants take the word of the payment service provider that the transaction was successful and treat the payment as received before they physically have the cash in their own bank account. In the case of brokers, that involves crediting a client’s trading account and allowing trading to begin long before the broker actually receives those deposit funds.
Q: My card issuer is saying that I cannot dispute the charge because it took place more than X days ago - what should I do?
A: That time limit does not apply in cases of fraudulent activity, and we (as the merchant) are asking you to dispute the transaction due to the fraudulent activity of the payment service provider involved - ensuring that your funds are safely returned to you.
Q: My card issuer said this may take longer than a week - what should I do?
A: We would ask you to re-deposit in good time (so that funds are on your account by the 27th), but if that is not possible then please contact us urgently so we can work out a solution and try to speed up the process.
Q: I have deposited using a wire transfer AND a card - what should I do?
A: Please reach out to [email protected] so that your specific case can be reviewed and we can formulate a solution.
If you have any other questions, please do not hesitate to get in touch with us - we appreciate your understanding and are here to help resolve this difficult situation.
Regards,
Capital City Markets
I’ve read your posts regarding the CCM fubar.
I have never experienced an issue like this, in which a middle-man in the funds-transfer chain is withholding (or has stolen) the funds, so I can only guess at how you might proceed going forward.
Let me start by saying that the emails you have received look authentic. They repeatedly reference the correct email address for CCM ([email protected]). I don’t think a hack has occurred here.
If I were in your situation, I would begin by contacting my bank (or credit card issuer, as the case may be). I would give the bank/issuer all the information received from CCM, and I would ask two questions: (1) is CCM handling this matter in the proper fashion, and (2) does the bank/issuer have the name and contact information of the payment processor alleged to have stolen the funds – if the bank/issuer does not have that information, I would demand it from CCM.
In the case of a deposit made by bank debit card (@sknight1), these questions will probably have to wait until Monday. In the case of a credit card deposit (@foreverforex2), the card issuer’s customer service department should be available over the weekend.
CCM’s allegation that payments are routinely delayed for weeks or months seems suspicious to me, and I would discuss this issue with my bank or card issuer, as well. Also, CCM’s statement that the relatively risky nature of the forex brokerage business is somehow a factor in all of this makes no sense to me – none of that so-called risk involves the payment processor.
Finally, I would not rush to make additional (duplicate) deposits to CCM. I, for one, would require more information, before I would be willing to continue my relationship with this broker.
Please keep us updated on this matter.
Thanks for your response Clint. You’ve given me some good info to go on when I visit with my bank on Monday. I had the same thought about their comment that forex was risky when the problem is with the payment processor.
I think the whole situation may be grounds to remove them from the approved brokers list. Unless that’s already happened… it’s been a while since I’ve checked in on this thread.
[quote=“sknight1, post:4732, topic:35612, full:true”]
I think the whole situation may be grounds to remove them from the approved brokers list. Unless that’s already happened… it’s been a while since I’ve checked in on this thread.[/quote]
There has been no change to CCM’s listing in Group 1.
And if a change is to be made, it will only be made after the dust has settled on this funding issue, and everyone has had a chance to weigh in on how to proceed.
The only change I would consider making unilaterally, without the advice and consent of the members, would be a “warning label” added to the CCM listing. But, that would be a little premature, at this point.
That’s fair. It was just a thought I had. I wasn’t trying to push you around nor tell you what to do. 
Evolve.Markets has BitCoin denominated accounts.
I’m pleased to report smooth withdrawals of BTC (BIT). 
I believe Evolve absorbs the transaction fee as well.
No problems with a payment processor !
EDIT Of course you are dealing with a somewhat volatile asset
in BTC which has recently risen and apparently stabilized at
just over $6000 / BTC as of this time…
EDIT2 I like that Evolve allows you to enable Google Authenticator
on your mobile device as a 2 factor requirement prior to any ability
to withdraw funds. Pretty secure seemingly.
hyperscalper
Interesting. The Capital City Markets email stated that if funds were not wired / received by 10/27/17 that the account would be suspended. To test this statement I just tried to enter a trade & got the message “trading is disabled”. Today is the 22nd.
Hello all. I received the same CCM emails on 10/20/17 and instantly thought it was a fraud. I started to research and came across this thread and read it carefully . I have made some investigations and banking institution inquires in to this truly bizarre statement from Capital City Markets .
Has anyone here gotten a grasp on this yet and or figured out what the real truth might be or how to resolve ?
Martin, what did your bank have to say about the situation ? I’m still trying to get in touch with one of the head accounts at my bank but she seems to be out of the office again today.
I would not wait for one particular person at your banking institution . I was told there is a time limit despite what CCM said. Yes they directed me to request any and all credit card activity on my account from Capital City Markets . I brought all my paper work and email communication . They need directly from CCM the CC activity , then they can proceed . On the flip side unfortunately the employee in the investigative department says this absolutely looks like I am getting swindled .
It’s the last word that you wrote that I was interested in hearing… “swindled”. I feel the same way. This whole situation reeks of shenanigans. Because of that, I’m taking the CCM “time limit” with a grain of salt. I’m waiting to visit with the head accountant at my bank.
Well we will get to the bottom of this . Anyone I have talked with says it does not make any sense . My deposits were many many months ago, all of sudden CCM never received them makes no sense .
Agreed. My earliest deposit was in July. If they walk away with my deposits & my profits, fine… it’s not enough to break me financially. But what I won’t do, is give them more money. And I won’t do business with them again.
Part of me wonders if CCM is having financial problems & this is a money hunt, to be used to shore up their reserves. I suspect many people who received their emails will walk away. Which would just cause them to go out of business even more quickly. That’s just a guess. We’ll have to wait & see what happens.
Trader’s Way trade executions are way too slow. Anybody else experiences the same? imo, they should be removed from the list of Trusted Brokers.
You know the same thought crossed my mind that they are having some kind of financial issue and doing this buys them some time for who ever they may owe but also I have another thought. What I do know is it will cause repercussions across all the chats , Skype and trading groups I and surely others that Capital City Markets is lying to . It wont be pretty once people find out they close accounts because they said they never received funds from x amount of months ago…ludicrous , and its not complicated . And here is my other thought that is most likely the case. Capital City Markets ARE fraudulently telling the trader his or her money is in their account but it never really is or was , expecting you to blow the account , basically we are given a fake account like a demo, they tell you its real , and they take the money for themselves it was never deposited in to REAL said account. I have already posted to 3 groups I am in and posted all that has transpired so far .
I have an account with TW and have never had a problem with slow execution. Does your computer have an SSD Drive, or a hybrid SSD + HDD…? I’ve noticed that trades are executed faster on computers that have SSD drives. Which means it’s not the broker, but rather your computers processing speed.
I have the best machine money can buy. I am 100% certain that this is MT4 server issue and I think TW purposely delays the execution. This used to be fast. now for the last few months all my trades are executed with great delay, especially closing the trades.
I should also mention that other brokers I have are executing at great speed.
Thanks for weighing in on the current CCM situation.
And welcome to this forum, and this thread.