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4XP, What Went Wrong With Your Company?

Discussion in 'Scam Alerts' started by Scam Investigations Committee, Oct 14, 2013.

  1. jasonhadjigeorgiou

    jasonhadjigeorgiou Private, 1st Class

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    Hello All,

    I would like to update you regarding SkyFX.com (Trademarker (Cyprus) Ltd) that received today a fine from CySEC in relation to my complaint and the findings that we had from the other members and especially that the company changed hands and allow other companies from Israel to give investment services!!!
    http://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=a44a6549-38b7-4fc2-828d-92f8ae966d1a
    This was published today! The fine of-course is very small in relation to what they achieved and they took all of our money, and then "sold" (if, so) the company to another Israeli.

    I will be contacted tomorrow by CySEC in relation to what can be the next step for us to retrieve our funds, since the previous owners of SkyFX were the same as 4xp.com and FXTG in Australia!

    I will not stop fighting, same as Charis, until we are able to get our money back!

    Will keep you posted!

    Jason
     
    1 person likes this.
  2. jasonhadjigeorgiou

    jasonhadjigeorgiou Private, 1st Class

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    Just to be a little bit clearer. This fine is for the existing shareholders of the company since they did not follow up with Laws. This is just an administrative fine that was imposed. The criminal offence, if they are considered to have any, needs to be followed up by the police also.

    A criminal and administrative offence in relation, for the previous owners that owned 4XP.com, SkyFX.com and FXTG will also need to be investigated! Since its them that took our money and then sold the two companies!

    Thanks,
    Jason
     
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  3. Pharaoh

    Pharaoh Colonel

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    Any chance of getting an English version of that document?
     
    1 person likes this.
  4. CharisTh

    CharisTh Private, 1st Class

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    We have requested this from CySEC. Will keep you posted.
     
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  5. Forseti

    Forseti Sergeant

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    Maybe, in this link there is more information about fine CySEC to SKyFX:
    CySEC Fines SkyFX
     
  6. Forseti

    Forseti Sergeant

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    A few days ago, I sent to FSC British Virgin Islands all my documentation related with 4XP:contracts, emails, etc.
    And this gentleman' James Denton, the still responds on behalf of 4xp.
    I hope that FSC investigate 4XP and former owners and if they can prove that they are the same owners of SkyFX and FXTG then 4XP former owners have to return us our deposit money initial investment.

    At the moment, I have my money blocked, retained in an account with this server: "Algo Trade main server 2", this is how it appears in the Metatrader 4 platform.
     
  7. jasonhadjigeorgiou

    jasonhadjigeorgiou Private, 1st Class

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    Please see below the unofficial translation from CySEC as they sent it to us.

    The Cyprus Securities and Exchange Commission (the "CySEC") informs the investors that, in its meeting held on February 2, 2015, decided to impose a total administrative fine of € 20.000 upon the company Trademarker (Cyprus) Ltd ('the Company') for infringements of the Investment Services and Activities and Regulated Markets Law of 2007, as in force ('the Law').
    Specifically, upon the Company an administrative fine was imposed for:
    A. The amount of € 10.000 for failure to comply with Article 28 (1) of the Law, because it did not keep throughout the duration of its operation, the conditions for authorization provided for in Articles 13 (shareholders suitability) and 18 (2) (d) (outsourcing to a third party the execution of investment services / activities) of the Law.
    B. The amount of € 5.000 for non-compliance with Article 34 of the Law, as it did not inform the CySEC about substantial changes and in particular the outsourcing of investment services to third parties in Israel as well as the outsourcing of marketing services to a third party.
    C. The amount of € 5.000 for non-compliance with Article 36 (1) of the Law, as it allowed the provision of investment services by non-licensed persons in Israel.
    In order to determine the level of all of the above administrative fines, the CySEC in each case, took into account:
    1. The seriousness that the legislator gives to such violations, which is reflected by the amount of administrative penalties prescribed in the Law for such offenses.
    2. The gravity given in securing that the persons subject to the supervision of the CySEC fully comply with the Law and the relevant directives.
    3. As a mitigating factor, the fact that the Company has not committed a similar violation in the past.
    Particularly the CySEC took into consideration:
    4. For the non-compliance with Article 28 (1) of the Law:
    4.1 The seriousness given to the obligation of the CIFs to keep throughout their operations, all the conditions for authorization as set out in Part III of the Law.
    4.2 For the non-compliance with Article 13 of the Law, the importance attached to the adequacy of the CIF shareholders to ensure its correct and prudent management.
    4.3 For the non-compliance with Article 18(2)(d) of the Law, the importance of the effective supervision by the CySEC in order to ensure the proper functioning of the CIF.
    4.4 As a mitigating factor, the fact that the shareholders of the Company at the time
    of conduct of the violations, have now left, giving to other
    persons their participation to the share capital of the company.

    5. For the article 34 of the Law, the importance of the prompt notification to the CySEC of substantial changes, which promote the effective supervision of the supervised entities.
    6. For the article 36 (1) of the Law, the importance attached to the safeguarding of the
    interests and the rights of the clients of a CIF.



    May 21, 2015


    This unofficial English text is for information purposes only and is not legally binding.
     
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  8. jasonhadjigeorgiou

    jasonhadjigeorgiou Private, 1st Class

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    I would like once more to update this thread. As you may already know the 4XP accounts under Algo-Trade are no longer valid and we have all lost our money as it seems. I have tracked once more with BVI regulators, and they have told me that they most likely go ahead with court action against the company and its directors with all the information that I have provided them, and most likely many other. We all know (not sure if still are) that these people were the same people in SkyFX and FXTG.
    I would like also to let you know that I have also made contact with a Layer, and will also take action against the directors and the company it self.
    4xp-anleger are a scam! Do not trust your money with them. They have vanished from the place of the earth so do not trust them with your money like I did and so many others!
    You may already know that the company that is "operating" in Cyprus have their main offices in Israel and all operations are from there. Still the same scam as before, with DealServ which most likely changed their name to Algo-Trade.
    I can assure you that the money that we even first deposited and never received back we are going to retrieve!
    I will also learn more legal things in relation to their operations here if what they are doing here in Cyprus is legal or not, and will again give this information to CySEC for them to investigate and track them down. I will not stop fighting what is right for me!
    Jason
     
  9. PilipenkoIgor

    PilipenkoIgor Sergeant

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    Jason, hello. I also need help. maybe you can help me? i was scammed by SkyFx
     
  10. Forseti

    Forseti Sergeant

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    My account is disabled for several months. I hope that FSC-VBI perform legal actions against 4xp. I have sent all the information and all documentation about with 4xp to FSC-VBI.
    The former owners are hidden in Israel, they have to return to us our investment deposit initial.
    The server is now called Algo-Trade and also they are in Israel, they are still doing their misdeeds.
    FSC-VB should inform the regulator of Israel the relations between 4xp – Forex Place - Algo Trade - Deal Server.
    Former owners of 4xp – Forex Place, they know where is our money.
    I'm waiting for news, from the person of Deltacon, so tell us what are the following steps to give.
    4xp-Anleger.Info have a blog, and it is still not updated since 31 March .

    Jason, FSC-VBI said you that your should get in touch with a lawyer?or, have we wait for FSC-VBI present demand and wait for the ruling of the Court?.
    Regards
     
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