Original FPA Traders Court Submission:
I am submitting the case against: www.bmfn.com
My Case is: I opened an account with BMFN in August 2010. I successfully managed to withdraw $6,000 in November 2010 and a further $9,000 in May 2011. However, when I attempted to withdraw a further $6,000 in January 2012 I received an email stating my account has been “deactivated and closed due to system abuse.”
The email highlighted a section from their terms and conditions stating BMFN had the right to cancel all profits due to inaccurate pricing. I contacted them on many occasions demanding proof as I could not believe every single trade I placed over an 18 month period was affected by a BMFN system failure.
My account equity was $20,053 when my account was deactivated. Even though all my trades were placed at news time, their t&c’s do not mention anything about scalp\news trading restrictions.
I will upload two files. The spreadsheet contains all the trades I placed (on each tab). The word documents have all the emails they sent.
Thanks
Inderjit Bhambra
New thread in the Scam Alerts Folder:
Review is submitted by Inderjit on 03/02/12
The company was first contacted about the issue on 02/08/12 the last contact was on 03/10/12
Details: The only emails I have received have been from Compliance, even then they have not put their names on any of the emails.
Company representatives' emails: Compliance_Department <Compliance_Department@bmfn.com>
I am submitting the case against: www.bmfn.com
My Case is: I opened an account with BMFN in August 2010. I successfully managed to withdraw $6,000 in November 2010 and a further $9,000 in May 2011. However, when I attempted to withdraw a further $6,000 in January 2012 I received an email stating my account has been “deactivated and closed due to system abuse.”
The email highlighted a section from their terms and conditions stating BMFN had the right to cancel all profits due to inaccurate pricing. I contacted them on many occasions demanding proof as I could not believe every single trade I placed over an 18 month period was affected by a BMFN system failure.
My account equity was $20,053 when my account was deactivated. Even though all my trades were placed at news time, their t&c’s do not mention anything about scalp\news trading restrictions.
I will upload two files. The spreadsheet contains all the trades I placed (on each tab). The word documents have all the emails they sent.
Thanks
Inderjit Bhambra
New thread in the Scam Alerts Folder:
Review is submitted by Inderjit on 03/02/12
The company was first contacted about the issue on 02/08/12 the last contact was on 03/10/12
Details: The only emails I have received have been from Compliance, even then they have not put their names on any of the emails.
Company representatives' emails: Compliance_Department <Compliance_Department@bmfn.com>