Plutus Trade Base Accused of Refusing $99K Payout

A social media post on Twitter has raised alarm over a forex trading platform, Plutus Trade Base, also referred to as Triple Edge Group LTD. According to the poster, the company is refusing to pay out $99,334.44 USD on MT5 accounts #27707 and #27502. The post further claims that trading execution was arbitrarily blocked on the server side, with a message indicating 'auto trading disabled by server', effectively preventing the trader from managing positions.

The poster asserts that they have taken multiple legal and enforcement actions, including filing an FBI IC3 case (ID: 206585809d4e4d0b997dd0fcb3d7adf4) and initiating a chargeback with Bybit. Additionally, they claim to have escalated the matter to Confirmo, Rise Works, Binance Risk Security, and the Cyprus Securities and Exchange Commission (CySEC). The post concludes with a warning to stay away from the platform's website.

While these allegations are unverified and come solely from a single social media post, the details present several red flags that traders should be aware of. The refusal to honor a payout request, especially one of significant size, is a serious concern. Server-side blocking of trading activity, as described, could indicate an attempt to prevent the trader from closing positions or retrieving funds. The involvement of multiple regulatory and enforcement bodies, though mentioned by the poster, suggests the situation may have escalated beyond a simple complaint.

For traders, this report underscores the importance of due diligence when selecting a forex or CFD broker. It is crucial to verify that a broker is regulated by a reputable authority and to check their history for any complaints or actions. Traders should also be cautious of platforms that impose unusual restrictions or delays on withdrawals, as these can be warning signs of potential fraudulent behavior.

To protect oneself, it is recommended to research any broker thoroughly, look for independent reviews, and test the withdrawal process with small amounts before committing larger funds. If a platform displays red flags, such as those described in this post, it is safer to avoid it altogether. Additionally, keeping records of all transactions and communications can be helpful if legal action becomes necessary. This report is solely based on the allegations made by the individual on social media and should be treated as such.