Lost money after DTN IQFeed "Free Trial"

[MarvelousMarvinH]

This is ridiculous advise. This is the mindset of people that spend all their money on a car payment they can't really afford.

Every person I know with real wealth would fight to get back this 25 bucks and the more money they have the harder they would fight for it.

Hell, the richest guy I know moves his car twice a day because he is too cheap to pay for his buildings monthly parking fee. It is not even that much either and it is just nothing as a % of his net worth. Not setting money on fire though is a huge reason why he is the richest guy I know. This isn't rocket science.

In a business filled with posers and conmen it is understandable to get pissed at this but DTN are some of the good guys. No surprise at all they would work this out with you.

Change your mindset. Forget about those 25 USD and focus on important stuff. Dont waste your time and energy with these breadcrumbs. Focus on the bread, and the ham and the cheese. Thank me later.

 

[qaz]

I signed up for a 7 day free trial with DTN IQFeed. They explicitly said it was a free trial in saved chat logs I had with my account manager at DTN. During the free trial they accidentally (by their own written admission in email) charged my credit card $444 USD, which they weren't supposed to do until after the free trial elapsed and I graduated to a paid subscription. I contacted them during the free trial and they assured me that the cost would be refunded if I decided to cancel the free trial.

Well, I cancelled the free trial about 4 days into it. After a few weeks, I got refunded the $444 USD. Except, my bank is located overseas, and through a combination of FX movements and bank FX spreads, I ended up losing about $25 USD through the process. I contacted them about this loss but so far they've refused to compensate me.

This seems at best unethical and at worst illegal. They promise a free trial in writing, request my CC, charge me accidentally (as they admit to in writing) - forcing me to pay the bank FX spread twice, then make me cover the loss.

How can I go about recouping this loss?

N.B. I think they made an unauthorized transaction under the Fair Credit Billing Act, yet they are trying to saddle me with the fees and costs.

https://en.wikipedia.org/wiki/Fair_Credit_Billing_Act

Here's a tip. Use a card like Revolut for online purchases in other currencies. In the event you get refunded USD it will be in its original value and you can change it back to your local currency at the interbank exchange rate if you wish to.

 

[wrbtrader]

I signed up for a 7 day free trial with DTN IQFeed. They explicitly said it was a free trial in saved chat logs I had with my account manager at DTN. During the free trial they accidentally (by their own written admission in email) charged my credit card $444 USD, which they weren't supposed to do until after the free trial elapsed and I graduated to a paid subscription. I contacted them during the free trial and they assured me that the cost would be refunded if I decided to cancel the free trial...

I know you posted an update about you signing up for the wrong account when you thought you signed up for the account associated with the free trial...

Yet, when you said above that your credit care was charged $444 USD...does that imply you used a credit card from the U.S. or you were charged a different amount on your non U.S. credit card and that amount with the currency exchange equals to about $444 USD dollars ???

My point is that its standard policy with all financial institutions to charge a fee and/or currency exchange rate on money going from one currency to another currency.

Thus, that $25 you saw may be the cost you lost to bring the USD funds back into your currency especially if there's other middle man involved in that process.

wrbtrader

 

[CALLumbus]

This is ridiculous advise. This is the mindset of people that spend all their money on a car payment they can't really afford.

Every person I know with real wealth would fight to get back this 25 bucks and the more money they have the harder they would fight for it.

Hell, the richest guy I know moves his car twice a day because he is too cheap to pay for his buildings monthly parking fee. It is not even that much either and it is just nothing as a % of his net worth. Not setting money on fire though is a huge reason why he is the richest guy I know. This isn't rocket science.

In a business filled with posers and conmen it is understandable to get pissed at this but DTN are some of the good guys. No surprise at all they would work this out with you.

I am sure there are plenty of examples of rich people who do A, and enough others who do B. Being rich does not prevent you from being an idiot.

We all have limited resources. Time is the most valuable. If you have litte money, your focus should be on investing your time so it returns you something more than those 25 USD, especially if you are a trader.
If you have already lots of money then what is the marginal utility of those additional 25 USD ? Wouldnt you prove your rational mind by investing your time into something with a much higher return ? A good trader with some capital will make 2500 USD with a single mouseclick. No sense to waste time for those 25 USD. If we talk non-monetary, there are for sure things even you would prefer to do with your time, if you have not completly lost your mind, than going after those 25 USD. Have some good time with your family, drive around in your car, have some fun with hookers, play black jack, hang out with friends...

This is all basic economic thinking and decision making, basic logical thinking. But it seems this is already too high for many here. No wonder most here are struggling with their trading...