Problem Prime4X does not pay back

[BenMcDui]

On 20101103 I requested a withdrawal. Not unexpectedly given the many complaints on this forum, and the experience of a friend of mine and myself, the order has not yet been executed. My withdrawal from ActivTrades, ordered on the same day, was completed two days later, that is: the money was on my bank account! This means ActivTrades must have taken no more than 24h to execute my order.

The live chats with P4X are hallucinating as has been demontrated many times before on this forum. The operator does not really help you but seems to have instructions to send you off with meaningless phrases.

Beware of this broker, it is a black hole.

 

[BenMcDui]

Prime4X is a black hole

In addition to my earlier post, I sent e-mails to 'support@prime4x.com' but they do not even have the courtesy to respond. This company truly is a black hole.

 

[BenMcDui]

As an update to this case:

I had another live chat with the customer support department, who claim that they had responded to my e-mails. When I insisted, they sent a reply saying "you have to go to the accounting department". So much for the support by customer support.

Then I chatted with the accounting department, who made all kinds of promises but like customer support could not give any information as to WHEN the money would be transferred.

I sent an e-mail to 'accountant@prime4x.com' who, to my surprise, came back to me promising to transfer the money "as soon as possible".

One wonders what is keeping the accounting department from handling an order. Apparently, they do have time to answer to my e-mail but I would rather have them deal with my order....

 

[BenMcDui]

Update:

Today, my withdrawal showed on my trading account. Simultaneously, I received a reply from 'accountant@prime4x.com', confirming that they had taken action. Now let's wait and see; the money has not arrived on my bank account yet.

 

[BenMcDui]

Update:

It has now been 9 business days since my order and 4 business days since P4X debited my trading account. No money in my bank account however. Numerous e-mails sent; their most quantifiable response is "wire transfer takes 2 to 4 business days". OK, let's keep on chasing them....

 

[BenMcDui]

Update:

More e-mails with the accountants department, more promises. My last statement: "I do not need any more promises, just send me the TT copy." Response: we will request a TT copy from our bank." This, at last, is a tangible action that we can measure, although the time it will take to get this TT copy can not be quantified. To be continued.

 

[AsstModerator]

Prime4x has told me that they've hire more staff to deal with these delinquent withdrawals.

I expect to see significant progress starting next week. I expect the bulk of these older withdrawals dealt with long before the end of December.

Note to Prime4x. I don't like it when my expectations aren't met. Your company can expect serious consequences if I don't see major improvements very soon.

I am almost as sick of Prime4x's delays and excuses as the traders Prime4x owes money to. If I don't see major progress by mid-December, expect to see FPA warnings about your company escalate rapidly. If that doesn't work, your company will either be the last FPA Scam Finding of 2010 or the first of 2011.

Don't forget that there are some other cases that should be fixed before December 1st. Successes can be reported. Failures will certainly be reported.

 

[BenMcDui]

Update:

On 18-Nov I sent them an ultimatum: "If I do not receive the TT copy this week, I will have to escalate seriously." Among my escalations will be to file a complaint in the FPA Scam Resolutions Section and to write a formal letter to P4X management.
It is ludicrous; I made a withdrawal from ActivTrades and the money was in my bank account two days later. Something's rotten at P4X.

 

[BenMcDui]

Cool! I welcome this intervention by AsstModerator.

 

[RahmanSL]

At last, and it's good to see some concrete response from our Top Brass here at the FPA.

BenMcDui, we sympathize with your & others like yourself plight with your withdrawals.
However, as our Commander wrote, there should be significant positive progress to be made by Prime4x by next week onwards.
Just be patience a while longer and see what happens by mid December 2010.

All the best, and I do hope you will get back your money soon.