Original FPA Traders Court Submission:
I am submitting the case against: tifia.com
My Case is: I traded with Tifia for a few months, I made pretty good profits, I opened two accounts with them one was Start and one was ECN. One day they blocked my account and decided to cancel over 4501.48 EUR of profits. My account number is 6026336, so that Tifia can verify who I am.
As I trade around news times I had opened two account types with Tifia. The broker offers Start account and ECN, after trading for a while my accounts were performing differently, I was making more profits on the Start account so I continued to trade on this account more frequently than on the ECN account.
On november 28th I had a very good day where I had made a large profit(about 4500 EUR). The next day Tifia blocked my account and asked to verify some documents, it was an AML document request I was told. On december 8 they notified me that my documents have been accepted and my account is again live and I can resume trading.
On Dec 7th, just the day before they emailed me that my documents are accepted and my account was reactivated I received another email that some trades were being cancelled(EUR 4501.48 over 471 trades) the reason they gave is "Please note that the peculiarities of the trading terms and architecture of START accounts imply that coverage applies to the total volume of client positions. Unfortunately, the liquidity provider was not able to confirm all of your trading positions". This was a very vague explanation for taking away such a large amount of profits away from me so naturally I questioned it and requested a detailed list of trades and a reconsideration of the cancellation of profits.
I gave them plenty of time to make this right, I emailed several times clearly stating I didn't agree, the acknowledged my emails but that is all. I also contacted the Tifia rep here in the FPA(Alex), he reitarated that was the company's decision and he did not offer anything further.
Once I created the scam alerts post I invited Alex but he never showed up to defend Tifia nor did he reply to my message.
I had been emailing with Tifia requesting my money to be returned and that I want my emails to be forwarded to management. I also warned Tifia I will be filing a case with the FPA, to which they replied I should wait for a bit so that management can get back to me. It has been about 25 days since Tifia last sent me an email so I decided it is time to escalate this to a trader's court case.
I have withdrawn all money that was left in both my accounts, so my funds are now safe and out of reach of the company.
New thread in the Scam Alerts Folder:
Review is submitted by chitak on 01/20/18
The company was first contacted about the issue on 12/07/17 the last contact was on 12/29/17
Details: Last email I received from Tifia(Dec 29th 2017), this is regarding my request to refund my money as I disagree with their confiscating of profits:
We would like to kindly advise you that we are still reviewing your request.
Once we have an update on the matter we will get back to you.
Thank you in adavcen for your patience.
Company representatives' emails: Support <support@tifia.com>
complaints <complaints@tifia.com>
AML document request<ampolicy@tifia.com>
I am submitting the case against: tifia.com
My Case is: I traded with Tifia for a few months, I made pretty good profits, I opened two accounts with them one was Start and one was ECN. One day they blocked my account and decided to cancel over 4501.48 EUR of profits. My account number is 6026336, so that Tifia can verify who I am.
As I trade around news times I had opened two account types with Tifia. The broker offers Start account and ECN, after trading for a while my accounts were performing differently, I was making more profits on the Start account so I continued to trade on this account more frequently than on the ECN account.
On november 28th I had a very good day where I had made a large profit(about 4500 EUR). The next day Tifia blocked my account and asked to verify some documents, it was an AML document request I was told. On december 8 they notified me that my documents have been accepted and my account is again live and I can resume trading.
On Dec 7th, just the day before they emailed me that my documents are accepted and my account was reactivated I received another email that some trades were being cancelled(EUR 4501.48 over 471 trades) the reason they gave is "Please note that the peculiarities of the trading terms and architecture of START accounts imply that coverage applies to the total volume of client positions. Unfortunately, the liquidity provider was not able to confirm all of your trading positions". This was a very vague explanation for taking away such a large amount of profits away from me so naturally I questioned it and requested a detailed list of trades and a reconsideration of the cancellation of profits.
I gave them plenty of time to make this right, I emailed several times clearly stating I didn't agree, the acknowledged my emails but that is all. I also contacted the Tifia rep here in the FPA(Alex), he reitarated that was the company's decision and he did not offer anything further.
Once I created the scam alerts post I invited Alex but he never showed up to defend Tifia nor did he reply to my message.
I had been emailing with Tifia requesting my money to be returned and that I want my emails to be forwarded to management. I also warned Tifia I will be filing a case with the FPA, to which they replied I should wait for a bit so that management can get back to me. It has been about 25 days since Tifia last sent me an email so I decided it is time to escalate this to a trader's court case.
I have withdrawn all money that was left in both my accounts, so my funds are now safe and out of reach of the company.
New thread in the Scam Alerts Folder:
Review is submitted by chitak on 01/20/18
The company was first contacted about the issue on 12/07/17 the last contact was on 12/29/17
Details: Last email I received from Tifia(Dec 29th 2017), this is regarding my request to refund my money as I disagree with their confiscating of profits:
We would like to kindly advise you that we are still reviewing your request.
Once we have an update on the matter we will get back to you.
Thank you in adavcen for your patience.
Company representatives' emails: Support <support@tifia.com>
complaints <complaints@tifia.com>
AML document request<ampolicy@tifia.com>