Consumer complaint received 2024-12-27 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: JPMORGAN CHASE & CO.
State: FL

Complaint narrative:
My experience with XXXX - The company XXXX, aka XXXX XXXX XXXX, turned out to be a fraudulent prop firm and I want every single dollar I have given them to be returned. I have tried using their prop firm for almost 2 months now and throughout the process it has been nothing but problems and bumps along the way. The problems I face seem to be solved by support up until the last incident where they refused to help me or even look into the situation. Leading up to the final incident, I thought all was good and we have solved all the issues, then I face another technical issue. Only this time around, they refuse to do anything about it and blame the platform they use and the trader ( in this case me ) in order to divert any of the liability from themselves. Mind you, they have already reset me twice before this with no questions asked. I believe that once they saw I had gotten up around XXXX in profits, they decided it was time to take advantage of me. It started around XX/XX/XXXX when I decided to use XXXX as a prop firm. The following weeks with the firm consisted of nothing but trouble. On XX/XX/XXXX I reached out to the XXXX  support team with details about an error I had on the platform they use called XXXX. They reviewed my issue and I was reset by XX/XX/XXXX no questions asked. I had issues with stop losses not working and asked support how to fix it directly. Instead of giving me a solution to my issues they simply fixed my accounts and let me on my way. It was odd I thought but since I got my accounts back in good standing I thought nothing of it. That was until I ran into the same technical issues around a week later. I immediately forwarded my concerns to XXXX support. This time around I received some push back from the support team trying to pin the blame on XXXX ( the platform they use to conduct their trades ) and the trader ( me ). They had me reach out to XXXX  support so they can confirm the issue. XXXX  support promised me account resets if XXXX confirmed the account issues I had so naturally I reached out with my concerns and documented the issues I had. XXXX XXXX with XXXX support got back to me and gave me tips in order to avoid these glitches and a phone number that I should call had I encountered these issues again confirming that there were issues with stop losses. XXXX  support went back on their word and only offered me a reactivation of the accounts and not the profit. Mind you I was up around XXXX in profits before this incident. I disagreed with them and the back and forth went on for a week or two until I opted to reach out to the CEO via XXXX  directly to get a fair deal. The CEO XXXX XXXX offered me XXXX of the original XXXX in profits. I was tired of the back and forth with support so I settled with what I could get. I saw many people in similar positions as me and I was lucky to even get my accounts back as those people were ignored and shooed away. Similar to the last time I encountered these problems, support just fixed my accounts and did not look into the technical issues for a solid fix. The CEO and I came to this resolution on XX/XX/XXXX and all was well for around 2 weeks. Fast forward to around XX/XX/XXXX, I once again encountered the stop loss issues this time around XXXX in profits. This issue seems recurring because they did nothing to fix it and gave me the same generic response every time I reached out. We are sorry for this, its the platform and traders fault, we will reset the account. Have fun! Naturally after encountering this error for the third time, I was fed up and contacted support with video evidence of the problems. Immediately after doing so, I wrote a testimonial on their XXXX  server warning other traders that if they encountered the same issues, XXXX would do anything in their power to try to pin it on the platform they trade on or the traders themselves. The second CEO XXXX reached out to me directly blaming me and XXXX for the issues claiming they do not claim any liabilities for the issues I faced. Oddly enough, the higher in profits I climbed, the higher their stubbornness to do the right thing grew. He reviewed my video and immediately blamed me for not managing my risk and blamed XXXX for the orders not filling properly. To blame me for not managing my risk makes no sense as I took the proper precautions during my trade. A stop loss is there to manage risk and ensures you are limiting your loss during an open trade. The fact that this risk management function was not working is not to be blamed on me, the trader. The fact that they went to blame XXXX also does not make any sense as that is the platform they use to conduct their business. It is XXXX  responsibility to make sure the platform they use to conduct their business is functional to provide a fair environment for all their customers especially in a business that contains something as volatile as stock market trading. After this back and forth with the CEO, he sees my testimonial and bans me from the XXXX  server in order for his other members not to see what shady practices his firm participates in. So shady in fact that a high ranking admin in his server even reached out to see what he could do for me as he knew what malpractice was taking place. After that, he completely cut all contacts with me and banned me from logging on to their website in order to prevent me from accessing chat logs and billing evidence. I have everything documented and hope to take this scam prop firm down by first disputing every single dollar I have given them. Due to my claim being closed without anyone from Chase reaching out to me for more information, I will be filing a complaining form with the CFPB as well. 

My experience with Chase - On XX/XX/XXXX I called Chase to create a dispute on these transactions. I let Chase know what had happened and that I previously tried to contact the merchant for a refund to no avail. They asked me the generic questions to which I gave my answers. I told them my whole story about how they would not reinstate my profit due to a glitch I faced on their trading platform therefore I did not receive the service I paid for. Chase then opens the claim involving all transactions I had with the merchant and that was that. Four days later I receive a letter from Chase notifying me that my claim has been closed and that the merchant provided me with the goods I paid for. Chase never asked me for evidence to back my side of the story and decided to side with the merchant. I called back to re-open my claim and received pushback from Chase telling me I should upload any evidence I had to the closed claim and allow their investigation team 3-5 days to review it. After that I could call back and re-open the claim. 5-6 days after they told me this bit, I called back and asked to open the claim to which I received the response that the team was reviewing my documents and get back to me. I would like Chase to reopen my claims and get on with getting my money back from this scam firm.

Company response to consumer: Closed with explanation