GUILTY Case# 2013-165 | CharisTh vs 1LotSTP.com (fxsystems.com)

[CharisTh]

Original FPA Traders Court Submission:

I am submitting the case against: www.fxsystems.com

My Case is: I opened an account with 1lotstp.com which is part of FX Systems. (1 of the 5 companies held). I opened numerous trades, some low risk and some high risk, and after I decided to make a withdrawal request I received an email from them that my account is suspended for 3 months, and is taken to legal and its under investigation. I tried to contact them without any reply, I opened a ticket and was waiting for numerous days. After I contacted their online support, they answered me that either I accept to lose all my profits and get a refund of my initial deposit, or my account will remain frozen until they investigate my trades (3 months) and lose my initial deposit. I replied to them how is my account alerted for arbitrage, if I made a withdrawal request of only 60% of my total equity, keeping 40% inside to keep on trading, where the bonus is lost with any withdrawal requests been made? Why is my account frozen for 3 months? What are they investigating? If they do not want high risk trades then remove the high leverage that you provide. Is high risk trading. They would not reply from then on my emails nor my ticket. I decided to make a complaint to their regulators which state that they are under, Nevis, and Nevis replied to me that this company is not regulated under Nevis! So, basically they are not regulated at all and state false facts in their websites.

New thread in the Scam Alerts Folder:

• https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/28654-1lotstp-scam-company.html
  

Review is submitted by Charis Theocharous on 11/19/13

The company was first contacted about the issue on 10/28/13 the last contact was on 11/25/13

Details: My account is suspended for 3 months as it is under investigation for arbitrage. They can refund me my initial deposit and close my account. Or, if I continue to want my profits, they will investigate and respond to me in 3 months, and I could lose my initial deposit.

Company representatives' emails: Roxanne <forex.csuppt@gmail.com>

 

[AsstModerator]

I see 2 cases tied to this issue. One against 1lotstp, one against FxSystems.com. Only one can proceed. Which one?

 

[CharisTh]

FxSystems.com owns 1LotStp.com as well as four more brokers.
Since this is against 1lotstp.com (there is another thread regarding 1pipfix.com which is part of FXSystems.com) I would suggest to go ahead a put one against FXsystems.com.

 

[Pharaoh]

I think it might be better to go with the one against 1LotSTP. Then AsstMod could also post a warning on the FxSystems review page for all the cases against the brokerages they own.

 

[AsstModerator]

I think I've solved the issue. I've also just sent a formal invitation. If they ignore it, this case goes public next week.

 

[CharisTh]

Thank you for the support. I hope this gets to something! Much appreaciated.

 

[Pharaoh]

Looks like AsstMod held off due to the number of cases against YouTradeFx. That's probably for the best. If your case was up there now, most people wouldn't see it.

 

[boccos]

The Broker should deal with any issues immediately. No excuses for late responses. To me it signals warning signs with alarm bells.

 

[LoRio]

I feel its somewhat wrong to label brokers with such little evidence.(or Ib's in this case)

 

[dbrawner]

Is there more information available here? It seems we only have vague references as to what the trader did (from his perspective and words) and no information about why the broker feels an investigation of the account is warranted.

What trades transpired, in what time frame? What margin was used (i.e. bonus deposits, customer deposits, trade profits, etc.)?

I cannot vote for or against this broker based solely on the information provided... Have I missed something?