Investtechfx - interesting business model

[Peter I.]

*** After 3 long weeks of discussions, we finally found an amicable solution for both sides ***

 

[Pharaoh]

Now, they've offered us the following:
- we can withdraw our initial deposits and Investtechfx will keep our profits (over 70.000 USD !)
- we commit to stay with them 10 more months and we can go on like we did before. So, suddenly, it's not illegal anymore to trade from 1 VPS.... !!

InvestTechFx seems to like to do this. First accuse the trader of doing something wrong, then say it's ok if they can hold all the money for an extended time.

I can think of a couple of possible reasons for this. 1. They are a bucketshop and hope you'll lose. 2. They don't have enough cash, so are trying to spread out large withdrawals.

Of course, if InvestTechFx has a better reason, they can post it here for all to see.

 

[Laszlo Dobiasz]

Hi Peter,

I've read in an other topic that you are trading with several brokers for many years using EAs. Let me ask something. Are you succesfull in trading with EAs? There are a lot of people who trading with EAs including me, but I've never heard about anyone who made money with forex, nor I.
Though I multiplied my account balance at investtech, I don't believe that they will pay it. I guess I will lose all my money at the end.
What do you think, is it possible to find a honest broker whose trading conditions (spreads, commissions, leverage, platform, frequency of requote, etc.) are good enough to make money by EAs?

 

[Peter I.]

Hi Laszlo,
if you want to, we can discuss it by email (fpa <at> online . de )
After testing more than 300 EA, i have some EAs running that make consistant profit at ALPARI over 17 months now.

 

[astagold]

Hi Laszlo,
if you want to, we can discuss it by email (fpa <at> online . de )
After testing more than 300 EA, i have some EAs running that make consistant profit at ALPARI over 16 months now.

Hi Peter, I am interested to test your ea (can consider for joint cooperation )

 

[Louis F]

It looks like it's part of their business model:
if a customers makes profit, tell him he did something illegal and grab his profits.
If you search the internet, you'll see that we are not the first ones with this problem.

We've involved a canadian lawyer now, we will file a complaint at the SEC and start a lawsuit if Investtechfx is not giving back all the money.

Dear Peter,

This is really interesting business model. This is the Investtechfx. This is the SCAM company. I hope, you can help the canadian lawyer.

 

[Louis F]

Hi,

One interesting:
InvesttechFX Disclaimer November 2010:
12. Trading Account Abuse - Account holders are strictly forbidden to abuse benefits given in any manner whatsoever or to use it in any manner except as foresaid. Any active trading found to be done by heavy scalping/EA activity with unauthorized, unrecognizable or unreadable EA codes will result in trades related to these abuses being null and void, the immediate closing of the account, and the full refund of the initial deposit.

InvesttechFX Disclaimer December 2010:
12. Trading Account Abuse - Account holders are strictly forbidden to abuse benefits given in any manner whatsoever or to use it in any manner except as foresaid. Any active trading found to be done through High Frequency Trading** techniques or by heavy scalping/EA activity with unauthorized, unrecognizable or unreadable EA codes will result in trades related to these abuses being null and void, the immediate closing of the account, and the full refund of the initial deposit.

 

[FxChang]

finally after 3 attempts they pay me:

My first request was the November 26 for $500.... no piad

My second request was the Dec 8 for $500... no paid


My third request was the Dec 15 for $1,500.. paid Dec 23 by Paypal

I still I have money with them, I will continue trading with them.

 

[Karl Napp]

@FXChang
Did you have to sign an agreement in order to receive the money ? I guess that you've only received your initial deposit and you had to promise to stay with them for 1 more year without withdrawing any money....

 

[FxChang]

@FXChang
Did you have to sign an agreement in order to receive the money ? I guess that you've only received your initial deposit and you had to promise to stay with them for 1 more year without withdrawing any money....

i not sign any agreement, they paid me my inicial deposit in November ($1000 + 100 bonus).

this is the first time that I withdraw part of my profit ($1500)