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Asked for a trial and IQ Feed billed me for 2 years.H
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Asked for a trial and IQ Feed billed me for 2 years.H

  #1 (permalink)
Padawan
DF, Mexico.
 
Futures Experience: None
Platform: Sierra Chart
Broker/Data: IB/DTN IQ Feed
Favorite Futures: Futures and Stocks
 
rhuz's Avatar
 
Posts: 285 since Apr 2014
Thanks: 354 given, 397 received

Asked for a trial and IQ Feed billed me for 2 years.H

Hello fellow members, I hope all of you are having a great year.
We all know how good is DTN data and everything, there is no question about that and while I traded futures (until 2015) I always used their services, however a couple of months ago I received what would be the beginning of my disenchantment. It was an email saying that a payment was rejected by my card. It was for 5 dollars so I thought it would be something like a maintaining fee or something like that, till this day I don't know why they were billing me 5 dollars because despite I have asked several times no one gives me an answer.
I will try to make it short and my primary reason for writing this is to hear your opinion on the subject.

I wrote DTN on August 26th, 2015 asking them to cancel my subscription and any future automatic charges that could be made and I received a confirmation of the cancelation.

I contacted them again on November 12th of the same year asking them for the price for stocks data. They replied and sent me the quotes then I ask for a trial for stocks data.

I receive a few minutes later an email confirming my trial and one of the lines reads. "Please note that your trial will expire automatically if you donít contact us to subscribe."

The time goes on and since the "trial" expired they started to bill me I don't know exactly how much because there is an anual charge of $900 (2 years) and another $80 per month (24 months) , this numbers I don't have them very clear because I have asked DTN to please explain to me what charges where made to my account for the past two years but nobody answered me anything.

I don't live in the US and I'm not an american citizen hence I don't have a SSN which is what I need to have access to a bank account and online banking. For this reason I just have a very basic account at Keybank where I save money for when I go on vacations to the USA . My monthly statement are sent to an address a friend of mine let me use to open my account so it's impossible for me to check my statements.

So this past two years I wasn't aware of the charges being made to my account, I know this is not DTN fault or responsibility, of course this is on me, but I never imaged I would have to worry about those charges in the first place because I never wanted or asked to sign up for the service. The thing is that I was talking to a guy at DTN and he told me that it was a mistake because the system didn't give a trial but a subscription but they would only be able to refund me 3 months "in good faith" I rejected that and tried to talk to somebody else and I received an email saying they returned $81 to my account and that they won't refund anything more because they had to pay expenses and stuff but again, I didn't asked for the service.

At this point I feel bad, I feel like I'm asking for charity or something like that when I write them back "what about with my money?" I don't know if this was all my fault and I would like to hear (read) your opinion. Of course I have proof of everything said in this post and by proof I mean emails of the conversations but I even feel sad an kind of powerless and this is why I would like to know your opinion.

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  #2 (permalink)
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  #3 (permalink)
 Vendor: www.orderflowdashpro.com 
North Carolina
 
Futures Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
 
Posts: 387 since Nov 2011
Thanks: 119 given, 369 received


Have you talked to your account manager? I am not with DTN at this moment but they were always reasonable. I will message you a contact: no idea if it will help. It sounds like you may have exchange fees in addition to their charges. If so, it sounds like that is why they may not be refunding you.

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  #4 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,123 since Dec 2013
Thanks: 1,749 given, 3,359 received
Forum Reputation: Legendary

I would think that if you have documentation showing you didnt sign up for the subscription
rhuz View Post
"Please note that your trial will expire automatically if you donít contact us to subscribe."

that unless they have documentation showing something different, or that it was your responsibility to catch their error, then you should be entitled to a full refund. It's not your fault they mistakenly paid exchange fees for a data feed that wasn't ordered or being used.

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  #5 (permalink)
Elite Member
Indianapolis, IN USA
 
Futures Experience: Advanced
Platform: Ninjatrader TOS Custom
Broker/Data: Several
Favorite Futures: ES CL ZB
 
Posts: 370 since Dec 2009
Thanks: 218 given, 369 received

Hire an attorney...

I don't know your complete situation but I can tell you without reservation that if I was in your predicament I would make a single phone call to the service provider asking them to fix their error and after that I would turn everything over to my lawyer. Some customer service reps can be a little thick but their company lawyers would know instantly that it's a matter of refunding for services not purchased vs. refunding for services not purchased, plus damages, plus lawyer fees, etc. Good luck.

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  #6 (permalink)
Padawan
DF, Mexico.
 
Futures Experience: None
Platform: Sierra Chart
Broker/Data: IB/DTN IQ Feed
Favorite Futures: Futures and Stocks
 
rhuz's Avatar
 
Posts: 285 since Apr 2014
Thanks: 354 given, 397 received


SMCJB View Post
I would think that if you have documentation showing you didnt sign up for the subscription that unless they have documentation showing something different, or that it was your responsibility to catch their error, then you should be entitled to a full refund. It's not your fault they mistakenly paid exchange fees for a data feed that wasn't ordered or being used.

Yes, that could be totally possible. The thing is that they only respond with short emails and in general with negative comments about the refund but nothing more specific despite I have asked several times. I understand that it might be my fault but there has being no transparency from DTN.

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  #7 (permalink)
Padawan
DF, Mexico.
 
Futures Experience: None
Platform: Sierra Chart
Broker/Data: IB/DTN IQ Feed
Favorite Futures: Futures and Stocks
 
rhuz's Avatar
 
Posts: 285 since Apr 2014
Thanks: 354 given, 397 received


tpredictor View Post
Have you talked to your account manager? I am not with DTN at this moment but they were always reasonable. I will message you a contact: no idea if it will help. It sounds like you may have exchange fees in addition to their charges. If so, it sounds like that is why they may not be refunding you.

Yes, if there were exchange fees I know those fees would not be refundable. The thing is that I don't know exactly how much they billed be and what for. I hope to get a better result no matter if it was my fault and the charges were fair I just would like to know what happened to my money.

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  #8 (permalink)
Padawan
DF, Mexico.
 
Futures Experience: None
Platform: Sierra Chart
Broker/Data: IB/DTN IQ Feed
Favorite Futures: Futures and Stocks
 
rhuz's Avatar
 
Posts: 285 since Apr 2014
Thanks: 354 given, 397 received


timefreedom View Post
I don't know your complete situation but I can tell you without reservation that if I was in your predicament I would make a single phone call to the service provider asking them to fix their error and after that I would turn everything over to my lawyer. Some customer service reps can be a little thick but their company lawyers would know instantly that it's a matter of refunding for services not purchased vs. refunding for services not purchased, plus damages, plus lawyer fees, etc. Good luck.

Thank you very much for the advice. That was an idea that crossed my mind but I thought that everything could be solved between them and me. Depending on how everything continues from here that could be a real option.

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  #9 (permalink)
Elite Member
freasno, ca usa
 
Futures Experience: Advanced
Platform: ninja trader
Favorite Futures: forex
 
Posts: 57 since Apr 2013
Thanks: 19 given, 23 received

Do not pay it, if you already did dispute the charge as a fraudulent or unauthorized charge gather any emails showing you requested a cancellation and send them a letter with copies of your proof. They should clean up their end at that point, but either way if you are outside the US they will have no way to collect from you, on the flip side you will have to find an alternative data provider isn't a big deal

Sent using the futures.io mobile app

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