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Name: Oleg

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How uphold.com have withdrawn my £40k and gave $50 compensation to say "shut up"

I would like to share my story about uphold.com how the company is violating his own rules by reversing the trading and holding my initial deposit for 24 hours and making me lose in potential profit. I have bought an XTZ on 12/03/2020 at 22:14 in the app at a low rate and as a result, I had 334,797 XTZ which in an hour made the total amount of fiat on my account approximately of £ 40k. But in a few hours all my 334,797 XTZ (approx. £40k) have been withdrawn with the reference credited to uphold team and shortly after I received a copy-paste email from uphold.com: “Due to a system error, your recent ZRX trade has been reversed. Please accept our sincere apologies. The source of the error has now been fixed. This is a very rare event and we will be crediting your account with $50 as a way of saying sorry for the inconvenience. Thanks for your understanding.” $50? - That is so ridiculous when the potential profit of my initial deposit could it be 10x more. After all, I wanted a transference explanation of why my ZRX trade has been reversed. I understand that a very low rate could be caused by a system error, according to the uphold.com, but at the time of the trading and even for several hours after, there were no notifications about it, and only at 2 a.m. an official announcement appeared on the site. But obviously, if the users will lose their money by trading on uphold.com platform, uphold team will never do the reverse of the transaction. So what is the point then to trade on uphold.com? Even worse, I didn’t have the luck of communication either, they been ignoring my emails for 3 days and closing all the tickets that I have raised thru the help centre by making them solved without any reply. If you do think to make some money by trading on uphold.com then is not the platform that you can trust as you can never be sure when they will reverse the transaction, according to the needs, and also they do have a high fee on trading but they are saying no on the first web pages but if you do some research on the web you will find it. Reviewed on: 21st March 2020