ComplaintsforTitan Global Capital Management, Inc

• Initial Complaint

  12/08/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I deposited over $100,000 with Titan between October 11th - 17th 2023. I have tried contacting support for the past two weeks. Each agent says there was a problem with my linked savings account so I ******** and re-uploaded my original statement showing the deposits from the same account. Then I'm told the withdrawals will be processed. A day later I get a cancellation of my withdrawal and message saying due to AML regulations I must wait 60 days because I'm requesting a withdrawal to a different account. I have sent multiple emails, had multiple chats, and there is no one to talk to on the phone. I just keep getting the run around. Warning to anyone considering using Titan, there is no support and they refuse to lift the incorrect (due to their own system failure) block on withdrawing funds from my account. At this point, I'm skeptical they'll return the money at all considering how they have been acting. Next step is I'm going to start talking with attorneys. Wanted others to know if you deposit money, you may not get it out when you expect to.

  Business response

  12/08/2023

  Client's withdrawal triggered an AML hold pending additional information. The client has provided the necessary information, and his withdrawal is now processing. We apologize for any inconvenience this may have caused, and are remaining vigilant in keeping our client accounts safe from fraud.

• Initial Complaint

  08/02/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I invested money into Titan. I then needed the money so I attempted to withdraw from my account several times. Each time I would attempt withdraw the money it would get canceled without explanation. Each time I would reach out to Tire about why they canceled my withdrawal they would say there was an error but they were working on fixing it. The air was never fixed and I was never explained how to get my money. I even closed my account through Titan because I was needing the money desperately and was getting no help from a company. After closure of my account they canceled my withdraw yet again. Now that my account is closed I no longer have access to the funds and they canceled the withdrawal. I am desperately needing the money that was in that account and I have no way of getting home from titan to get my money back. Ive contacted them several times without any help

  Business response

  08/10/2022

  On behalf of Titan, we sincerely apologize for the delay you experienced with your withdrawal.
  We see that our team was able to process your withdrawal via a wire transfer and are so happy to see this resolved. Isolated or not, this is not the experience we want our clients to have and are committed to understanding what if anything went wrong on our end to prevent such experiences in the future.

• Initial Complaint

  05/04/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I am trying to get access to my account. They do not have a phone number in which I can call, and their reps keep messing up my email and communication. Their security is very low and they want me to send a photo of myself with my gov ** to get access to my account, however, they have not proven to me that anything is secure and no one will reach out via phone number. They do not allow customers to reach out via phone number and I can not get access to a manager. I do not feel their customer service procedures are appropriate in how they treat customers. It does seem very unsafe especially since there are no physical locations to contact. They had told me that my account was frozen but they miscommunicated that. I have been locked out for months and turns out they have been investing this entire time without me being able to access my account. For a high risk target organization of cybersecurity attacks, I do not feel this company is competent with my money any longer.I understand this is NOT the customer reps issue and that they are just following protocol. For a financial institution they should have better processes in place for customer support, which includes 1) better security to access locked accounts 2) phone numbers to call in which to provide critical information to open account 3) a process of escalation if the customer reps cannot diffuse a disgruntled customer after months of not being forwarded to a manager.

  Business response

  05/27/2022

  Hi ********,
  
  Our team received your BBB complaint and we're so sorry that this experience has been so negative for you. From our end, we see that you were working directly with our Fraud Manager throughout this process. If that was unclear, we apologize and can assure you that the feedback has been escalated internally to senior staff. 
  
  Our reason for requesting your government issued ID and portrait photo is to identify that we are being contacted by the account owner so as not to give access to your account to an unauthorized third party. I assure you that your account is safe. We take security very seriously, hence this procedure. 
  
  I also want to acknowledge your comment about a phone call. For compliance reasons, we are not able to do not conduct customer consultations over the phone. While we know this can be preferred by some clients, our team is always ready and happy to assist via email or via our in-app chat.
  
  It looks like our team has contacted you directly regarding this matter, but please do not hesitate to reach out if you have any additional questions or concerns.

• Initial Complaint

  03/03/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Titan's investments did poorly so I attempted to withdraw a large portion of my investment. After a month the funds still had not been sent to my bank. I contacted support and they told me I had been flagged by the *** for backup withholding. That's fine, EXCEPT backup withholding means they withhold a portion of the funds and send it to the ***. They do NOT get to hold my entire portfolio hostage until I submit proof of my identity (which i did, submitting my social security card). They finally release the Form-B withholding, but now none of my account balances match between Titan and their financial clearinghouse *************. My account was missing thousands. I inform support of the issue, I tell them I'd like to close my entire account with them because it's so unorganized, not to mention poorly performing fund. Their response, in regards to liquidating the entire portfolio "We can also cancel the previous withdrawal for you, please confirm. I will circle back when the liquidation is complete." I never confirmed I wanted them to cancel the original withdrawal - I've been waiting on that for over a month. The next day they canceled it. Currently, none of it has been sent to my bank, their account balance does not match the clearinghouse, and both don't match the actual amount. (Deposits - withdrawals - Withholding - Losses). The discrepancy is in the $Thousands. This company clearly does not understand Tax withholding per ***, they do not send funds promptly per SEC regulations, their accounting is misaligned, their investments are terrible, and I'm missing money.

  Business response

  03/29/2022

  Attached to this response is the same as below as we desire to provide transparency in this matter. 
  
  Titan Global Capital Management, LLC (Titan or the Company) provides the following response to your complaint:  
  
  Titans temporary inability to disperse your funds was the result of the Companys receipt of a ******** from ***************** **************** Services (***) concerning your account.  *** ******** indicated that your Taxpayer Identification Number (TIN) in the Companys records did not match the *** records.  Pursuant to federal law, when the Company receives a ********, it is required to withhold 24% from sales in a clients account.  
  
  Because of the withholding the Company was obligated to institute as a result of the ********, the Titan Cash in your account temporarily displayed a negative value.  However, the value of your account was not actually negative and Titan did not remove any monies from your account.  Instead, the negative account balance resulted from Titans attempt to sell your funds in the Titan Strategies and the 24% withholding of that sale by the custodian of your funds in the Titan Strategies.   In effect, the withholding necessitated by the ******** triggered a withdrawal in your account that was, because of the withholding, greater than the funds which you had available at that time for withdrawal.  As a result of the ********, Titans App treated your request as an attempted overdraw and did not process the transaction.  
  
  Titan apologizes for the inconvenience this caused you, and the Company is currently reviewing and revising its system to prevent similar occurrences.   
  
  As you know, the ******** with respect to your account was lifted on 02/28/22.  With the exception of your accounts holdings in YNDX trading in which has been halted by the ****** your account was liquidated on 03/07/22.  You should have received your funds approximately 1-2 business days thereafter. 
  
  We again sincerely apologize for the inconvenience this event caused you and assure you that the Company is diligently working to prevent similar events going forward.  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩