LAND-FX New Zealand: Can not withdraw deposit and profit! - Scam signal
- Thread starter Le Thi Hau
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- land-fx land-fx.com
I have also had some negative experience with Land-FX (Land Prime Ltd.) however my lawyer figured it out with the Financial Services Complaints Ltd. (http://www.fscl.org.nz/) which is an analogous organisation as Financial Dispute Resolution Scheme (as referrred to by Pharaoh above). Apparently, there are multiple of these organisations that are entitled to resolve financial disputes but one company is a member of one at one point in time.
So, my lawyer advised me with the case in front of the FSCL and I won my money back (the case was about trading around news announcements, accusations of latency arbitrage etc.). His name is Jan Hostinsky and he specializes in Forex law, OTC law and the like. Although he is from the Czech Republic, he may help with quite a range of affairs and brokers, from simple advice to full scale representation (if that is legally possible obviously).
Anyone interested may check his profile and some of the cases he handled at janhostinsky.com/category/news/ . His office is rather small and therefore does not charge tremendous amounts of money as the other lawyers that specialize in forex. His rates are very good and he always tries to give the clients multiple financing options.
I am not sure, but since he helped me to get my money back from NZ broker, I guess he may be able to do that for other traders who have been scammed by New Zealand brokers.
Good luck!
So, my lawyer advised me with the case in front of the FSCL and I won my money back (the case was about trading around news announcements, accusations of latency arbitrage etc.). His name is Jan Hostinsky and he specializes in Forex law, OTC law and the like. Although he is from the Czech Republic, he may help with quite a range of affairs and brokers, from simple advice to full scale representation (if that is legally possible obviously).
Anyone interested may check his profile and some of the cases he handled at janhostinsky.com/category/news/ . His office is rather small and therefore does not charge tremendous amounts of money as the other lawyers that specialize in forex. His rates are very good and he always tries to give the clients multiple financing options.
I am not sure, but since he helped me to get my money back from NZ broker, I guess he may be able to do that for other traders who have been scammed by New Zealand brokers.
Good luck!
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Woodychan
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Hi, I am a 23yr old Korean guy who want to learn FX. I want to make live account after I got bored of multiple demo tradings.
So, I was doing my background checks on brokers and came across this forum while trying to find out whether Land-FX is reliable.
I know I am writing this comment after 2 years this happend, but I want to make things clear before I decide whether to open my first live FX account ever at Land-FX.
Right after reading this forum I became very doubtful of Land-FX's service. However, I believe I had to hear directly from Land-FX too.
Therefore, I got their response about this case and would like to share it here. I also uploaded screenshot from my email to show this is no joke.
They stated:
"Dear Client,
Thank you for the interest in Land-FX and information.
We would like to inform you that the article is the fact but the trader has uploaded it except of his abusing fault.
The trader did a behavior that is the internal hedge trading.
For more detail, we have provided Vietnam clients with some bonus and they did a hedge trading with two accounts or multiple ones.
The bonus can lead the margin rate be lower so, traders can trade more stably with the bonus but, they opened sell position on one account and opened buy position simultaneously on another account.
As you may know, such internal hedge trading or external hedge trading with bonus is prohibited for all brokers.
They have a characteristic that they appeal only the cancellation of trading profit and hide their abusing or fraudulent fault.
We are not any scam broker and do not cancel any profit without any reason.
Hope the above contents will be helpful for you.
If you have any further questions or concerns, please let us know.
Best Regards,
Land-FX."
Now, my question to our Vietnese friend: Is it true that you received bonus and did you hedge trade it with multiple accounts?
BTW I am no employee nor part-time worker of Land-FX, am just a 23yr old Korean guy who want to learn FX.
So, I was doing my background checks on brokers and came across this forum while trying to find out whether Land-FX is reliable.
I know I am writing this comment after 2 years this happend, but I want to make things clear before I decide whether to open my first live FX account ever at Land-FX.
Right after reading this forum I became very doubtful of Land-FX's service. However, I believe I had to hear directly from Land-FX too.
Therefore, I got their response about this case and would like to share it here. I also uploaded screenshot from my email to show this is no joke.
They stated:
"Dear Client,
Thank you for the interest in Land-FX and information.
We would like to inform you that the article is the fact but the trader has uploaded it except of his abusing fault.
The trader did a behavior that is the internal hedge trading.
For more detail, we have provided Vietnam clients with some bonus and they did a hedge trading with two accounts or multiple ones.
The bonus can lead the margin rate be lower so, traders can trade more stably with the bonus but, they opened sell position on one account and opened buy position simultaneously on another account.
As you may know, such internal hedge trading or external hedge trading with bonus is prohibited for all brokers.
They have a characteristic that they appeal only the cancellation of trading profit and hide their abusing or fraudulent fault.
We are not any scam broker and do not cancel any profit without any reason.
Hope the above contents will be helpful for you.
If you have any further questions or concerns, please let us know.
Best Regards,
Land-FX."
Now, my question to our Vietnese friend: Is it true that you received bonus and did you hedge trade it with multiple accounts?
BTW I am no employee nor part-time worker of Land-FX, am just a 23yr old Korean guy who want to learn FX.
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