GUILTY Case# 2016-053 | highloss vs NEWTRADEFX.COM

[highloss]

Original FPA Traders Court Submission:

I am submitting the case against: NEWTRADEFX.COM

My Case is: My name is Samuel soon.
I was defrauded with lies that they are FCA regulated into depositing 3 times to a total of USD$6500.00 from early February 2015 to mid 2015 with empty promises from Alison Lloyd that if l open account with them, they would provide free legal service to recover my fund from Prime FMS within weeks and would refund my deposits even there is a loss if unsuccessful. Waited for one year and when l request to close my account and refund my deposit Alison started to twist and turn to give excuses. Subsequently they manipulated my account to wipe out my equity and hours later re-instated with considerable losses on November 24th 2015. Initially she denied manipulation. When l could not log on to my account somewhere in mid December, l email her the screenshots that they manipulated on December 28th, she later replied will refund my deposit with condition not to expose and say negative things about newtradefx in Forex peace army forum which l agreed.
Waited for weeks and multiple emails with no reply, l gave dateline or else will report to police, FCA,CYSEC, FPA, FOREX Factory and go viral on website. She threaten to take legal action against me for extortion and blackmailing them.
Since l could no longer log on to my account to trade. l submitted withdrawal and they refuse my withdrawal and refund.
This BROKER is definitely a FRAUD and SCAM with the following violations:
1) Misrepresented that they are FCA registered and covered by Capital Market Services UK ltd which is a lie.(there are document proof of their claim)
2) Refused withdrawal, closure of account and honouring refund as promised.(with document proof)
3) Manipulation of account. (with screen shot document proof)

l had attached a PDF files to explain in more details in the Scam Alerts Folder posting

Please help.

My trading account no: 1553

New thread in the Scam Alerts Folder:

• https://www.forexpeacearmy.com/community/threads/newtradefx-com-is-a-fraud-and-scam.43762
  

Review is submitted by Samuel soon on 02/19/16

The company was first contacted about the issue on 10/16/15 the last contact was on 01/26/16

Details: Alison Lloyd agreed to refund my deposits in 2016-01-07 after l gave proof in December 2015 that they manipulated my account on 24 November 2015 but they kept delaying the refund until l gave a dateline and she said in her mail on 2016-01-18 that she is not allowed by legal department to contact me anymore pending legal action against me for extortion and blackmailing. AND on 2016-01-22 Larry Kaning from legal department called me and wanted proof document that Alison Lloyd had promised to refund my full USD$6500.00 deposits. After given proof documents, no reply from them anymore.

Company representatives' emails: Alison Lloyd <Alison.llyod@newtradefx.com>
Larry Kaning <larry.kaning@newtradefx.com>
Dean Price <dean.price@newtradefx.com>

 

[AsstModerator]

Looks like they already skipped public replies to your invitation to join the thread in Scam Alerts.

I've just issued a formal FPA invitation.

 

[F***X]

According to scam adviser.com, this "NEWTRADEFX.COM" is sharing a server with 91 other websites. This is a HUGE RED flag that if a "so called" broker can't afford a private network and server, then how can it maintain the nominal resources in order to properly manage connectivity for clients? And how in the world would they rate their network latency for such a slow a$$, cheap shared website?

So why does this "newtradefx.com" purportedly offer free "legal service" while operating from a network that's sweating harder than a somali pirate in a junk ship boiler room?


Additional info from scamadviser.com:

Domain Age: 1 Years, 327 Days
Website Speed: Average
Website Value: $1890.02

Owner: David Pearlman
Owner Address: Intershore Suites, Vernon House, Sicilian Avenue
Owner City: London
Owner Postcode: WC1A2QS
Phone Number: 442037341922

Phone Type: geographic :London
Email:

Another glaring and disgusting example of an unscrupulous self proclaimed "broker" bullying clients in order to intimidate them into silence, but that won't work here because we won't stand for this abuse, will we? Together we stand as an invincible army and we have zero tolerance for these scammers who threaten with frivolous and ludicrous legal gesticulations.

 

[novatrice1]

It is indeed a ca fraud, we must complain to the police and the judicial authorities immediately

 

[Dermolikesprofit]

Seems that either website is down or down on purpose,
I see you are not the only person who is being ignored or who is looking for their money back, https://www.forexpeacearmy.com/comm...ched-anymore-and-no-response-from-them.43902/

Google returns these worrying results,
https://leaprate.com/2015/06/fca-warns-about-unauthorized-forex-broker-newtradefx/
http://www.forexbrokerz.com/news/belize-watchdog-says-newtradefx-forex-broker-complete-forgery
http://www.donnaforex.com/index.php?topic=16890.0

Somebody had a case resolved before with the FPA help, so I hope you guys will get your money back soon too
https://www.forexpeacearmy.com/comm...addl-fund-not-reflecting-in-my-account.42590/

 

[scamwhistle]

Original FPA Traders Court Submission by highloss:

Highloss,
You have absolutely done right to expose this SCAM without fear of reprisal which as an invincible force in FPA, you can have all the backings. This SCAM broker has been highly suspicious under my scrutiny since the day they make cold calls to me.

l would certainly encourage exposure of all the threats, and getting to all the governing authorities to know this SCAM that others would not fall into the trap. Once this goes viral, existing clients would also know their money is in danger that they can immediately pull out also before too late and force this BROKER in financial constraint to shut down eventually.

 

[claretblue]

Awful case . . . . guilty!

 

[Tim 616]

Oh how I wish there was someone that could get Stolen Funds back from Prime FMS. This looks like a case of a SCAMMER using another SCAMMER to perpetrate yet another SCAM. GUILTY!!!!

 

[feaisland55]

highloss: I cannot clearly see your trading results or exactly follow what you are saying. It sounds like your short currency pair spiked up and your account wiped out, but the pair recovered a little later. Was there a margin call? Did a stoploss trigger? Etc.? Since I cannot understand what happened in your trades, I do not know how much was in your account(and how much your broker owed you), so I have to abstain from voting here. If your broker took your money, I wish you luck getting it back!--feaisland55

 

[Duffgen]

Guilty.