I first deposited $1000USD on 26 Oct 2015 and Hiwayfx (under Lucro Capital Ltd) offered a tradable bonus of $350USD. I made a profit of about $1092USD (not inclusive of the given bonus) and withdrew $2092USD successfully on 29 October 2015. The reason for the withdrawal was because I did not want to keep so much cash with a forex broker, after hearing stories of forex brokers winding up their businesses. I made another deposit of $1000USD on 30 Oct 2015 and Hiwayfx again credited me with a tradable bonus of $350USD. I again made a profit of about $1374USD and requested a withdrawal of $2374USD on 5 Nov 2015. This time round, Hiwayfx accused me of performing fraudulent transactions which were in breach of their terms and conditions (T&Cs), and denied payment. I was totally puzzled.
Firstly, I accepted the bonus because it was what Hiwayfx has so brazenly advertised and offered. I had simply hoped to hold my trades longer with the tradable bonus given. Further, I had no need for the bonus to hold my trades when my trades were always in the green. Neither did I attempt to remove the bonus. What I had done is simply making deposits and withdrawals, whenever I made some profits. How is that fraudulent?
Secondly, even if I did not claim the bonus, I would have made the same amount of profit of $1374. In other words, the bonus had no effect on my earnings. Therefore, it is ridiculous for Hiwayfx to cancel the results of my trades and forfeit my profits and my deposit of $1000USD on 30 Oct 2015 based on their one-sided allegations. By refusing payment, Hiwayfx, apart from profiteering from the spreads, is also effectively pocketing $2374 from my trades and deposit illegally.
I have attempted to get in touch with my account manager Mr Omar, Head of Operation Mr Alexey, the Finance and the Compliance Departments. The same reply I received from them was that this is their policy and I had breached the T&Cs. It did not come as a surprise because all of them are staff of Hiwayfx and had to sing the same tune. There was no further assistance and no/unclear explanation of how my trades were fraudulent.
I am of the view that Hiwayfx is a rogue broker and is out to scam small time investors like me by imposing unfair T&Cs. They had since allowed me to withdraw only $308USD on 11 Nov 2015. In short, Hiwayfx still owes me a total of $2065 USD(ie $1000USD is my original amount deposited on 30 Oct 2015 and $1065 is my remaining profits).
Would like Hiwayfx to clarify the matter in this forum and return my monies.
Firstly, I accepted the bonus because it was what Hiwayfx has so brazenly advertised and offered. I had simply hoped to hold my trades longer with the tradable bonus given. Further, I had no need for the bonus to hold my trades when my trades were always in the green. Neither did I attempt to remove the bonus. What I had done is simply making deposits and withdrawals, whenever I made some profits. How is that fraudulent?
Secondly, even if I did not claim the bonus, I would have made the same amount of profit of $1374. In other words, the bonus had no effect on my earnings. Therefore, it is ridiculous for Hiwayfx to cancel the results of my trades and forfeit my profits and my deposit of $1000USD on 30 Oct 2015 based on their one-sided allegations. By refusing payment, Hiwayfx, apart from profiteering from the spreads, is also effectively pocketing $2374 from my trades and deposit illegally.
I have attempted to get in touch with my account manager Mr Omar, Head of Operation Mr Alexey, the Finance and the Compliance Departments. The same reply I received from them was that this is their policy and I had breached the T&Cs. It did not come as a surprise because all of them are staff of Hiwayfx and had to sing the same tune. There was no further assistance and no/unclear explanation of how my trades were fraudulent.
I am of the view that Hiwayfx is a rogue broker and is out to scam small time investors like me by imposing unfair T&Cs. They had since allowed me to withdraw only $308USD on 11 Nov 2015. In short, Hiwayfx still owes me a total of $2065 USD(ie $1000USD is my original amount deposited on 30 Oct 2015 and $1065 is my remaining profits).
Would like Hiwayfx to clarify the matter in this forum and return my monies.
