Stonewall Capital Fraud? Client Account Unexpectedly Plunges Negative, Withdrawals Blocked After Extra Deposit

Stonewall Capital is facing a client complaint alleging broker fraud after the complainant’s account turned into a negative balance for unknown reasons. He was subsequently instructed to make additional deposits, but withdrawal requests were never fulfilled.

According to the client, he opened a trading account with Stonewall Capital on March 13, 2025, and began trading under the guidance of purported “specialist traders.”

Initial Withdrawal Succeeds—But After That?

Encouraged by “specialist traders” and assured of secure access to funds, the client gradually increased his investment, ultimately depositing a total of $10,800. His account reflected a profit of approximately $15,000.

To verify whether withdrawals were possible, he initiated a small test withdrawal of $150, which successfully reached his bank account two days later.

However, when he later requested a partial withdrawal of his profits,  a “specialist trader” persuaded him to withdraw the next day, assuring him that the full withdrawal would be processed the following day.

Balance Turns Negative—Then a “Credit” Offered?

However, the client’s account abruptly plunged to a negative balance of -$18,000 the next day.

A representative from the platform’s “Risk Management” team then presented him with two options: either deposit an additional $5,000–$10,000 or accept a $10,000 platform-issued credit to help recover the losses.

The client opted for the credit offer and, in coordination with an individual named “Fadli,” made another deposit under the pretense that it would facilitate a fund withdrawal.

To proceed with the withdrawal, he was required to submit completed documentation and sign a “Client Declaration & Liability Release,” which he submitted to someone named “Azalea”.

The client was pressured to sign a “Client Declaration & Liability Release”

As of June 3, 2025, the client’s account remained in good standing. However, on June 4, he discovered that the account had been fully liquidated and reflected a negative balance.

He subsequently received a WhatsApp message from “Azalea,” stating that the withdrawal was “still in process.” Since then, he has received no further communication. 

Indicators of Potential Fraud

In this case, Stonewall Capital appeared to create deliberate obstacles to withdrawal, offering various excuses while leveraging the success of an initial small withdrawal to establish trust.

The subsequent plunge into a negative account balance also raises red flags, suggesting possible manipulation. Such tactics are commonly used to pressure victims into making additional deposits under the pretense of recovering losses.

The so-called "$10,000 credit" likely referred to a virtual balance injected to keep the account appearing solvent. Such “credits” are commonly used as a deceptive tactic to create the illusion of account recovery and to encourage further deposits.

The questionable “Client Declaration & Liability Release” released the company from any legal and/or financial liability, aiming to escape any future dispute over fraudulent payments or coercion. This document raises multiple warning signs commonly seen in fraudulent trading schemes.

Another Victim of Stonewall Capital?

Another Indonesian trader also reported on BrokersView that Stonewall Capital repeatedly demanded payments disguised as “tax” and “gas fees” during his withdrawal attempts. The trader warned: “YOU ARE ONLY ASKED FOR A DEPOSIT WITHOUT EVER BEING ABLE TO WITHDRAW THE FUNDS BACK.”

Stonewall Capital’s regulatory risks

Stonewall Capital claims to operate under FINDEXA ADVISORY (PTY) LTD, a Financial Services Provider licensed by South Africa’s Financial Sector Conduct Authority (FSCA). However, the FSCA registry does not display the licensee’s associated domains, introducing uncertainty and potentially posing a risk of identity fraud.

Given the suspicious practices by Stonewall Capital and potential fraud signs, as well as the broker’s questionable regulatory status, investors are urged to proceed with extreme caution.

If you've fallen victim to financial scams or faced potential fraudulent practices or misconduct at your brokers, reach out to us through Submit a Complaint. The BrokersView team is dedicated to exposing scams, raising investor awareness, and assisting with dispute resolution between traders and brokers free of charge.