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The FPA doesn't normally send out warnings about broker withdrawal issues before a formal scam finding. It's only been done one time before. That was the Crown Forex case, which ended with a scam finding and large amounts of money lost.
I have tried very hard to work with Prime4x to resolve issues. The number of delays and broken promises is now so high that I can not wait any longer to make a public statement. First there were accounting issues that needed to be dealt with by the beginning of August. After that, a few people reported getting paid, then the complaints started up again. Recently, there was a delay because of religious holidays. After that, Abdel Rahman El Omari told me that extra staff were being brought on board to help with the issue and that all the backlog would be cleared up. So far, 3 people have reported getting money since that holiday ended almost 2 weeks ago.
Omari claimed that people just weren't reporting getting money. I asked him to email people and CC me to confirm that it had been sent. He decided to wait a day. Previously, he'd sent me a spreadsheet listing some of those who had complained. I asked him to send me a list of who on that spreadsheet got paid. He said it would take 12 hours. Every attempt to get him to speed this up was met with more excuses. I'll buy the "it's 3 am here and I can't,", but find that he couldn't go through a list of account numbers and see who had payments sent by late afternoon to be unbelievable. Later, he said he could complete the easiest part of this in an hour. Finally, the easy part was an updated list of those who had complained to the FPA who were still owed money instead of any indication that any money had been sent. I asked Omari to send payments to thise who had Liberty Reserve accounts and no problems with their Prime4x accounts, to email the recipients of the money, and to CC the info to the FPA. Omari agreed and then missed another promised time without a single email confirming a single payment. Another broken promise from Prime4x.
From what I can tell, it looks like Prime4x either cannot or will not process withdrawals for a large numbers of clients. Like Prime4x's clients, I have lost all faith in all promises made by anyone who works for Prime4x. I kept telling Omari that only actions would prove good faith and he keeps making more hollow promises.
I pray that Omari will prove me wrong. I look forward to seeing all clients get paid all the money that's owed to them. I hope to see dozens of emails and reviews saying "payment sent, payment received."
If you have a pending withdrawal from Prime4x that is at least 2 weeks old, please post information about it here....
https://www.forexpeacearmy.com/fore...53-report-prime4x-withdrawal-issues-here.html
Include your account number and the date you first requested the withdrawal. Include the dates of any follow-ups messages you sent about your withdrawal. If you feel comfortable sharing the info, please also include the amount of the withdrawal.
At this point, the FPA strongly recommends against depositing any money with Prime4x until the bulk of these withdrawal issues can be resolved. If major progress isn't made soon, there won't be any choice but to declare a formal scam finding against Prime4x.
Prime4x needs to spend less time promising and more time paying money owed to clients. That's the only thing that can save the company's reputation.
I have tried very hard to work with Prime4x to resolve issues. The number of delays and broken promises is now so high that I can not wait any longer to make a public statement. First there were accounting issues that needed to be dealt with by the beginning of August. After that, a few people reported getting paid, then the complaints started up again. Recently, there was a delay because of religious holidays. After that, Abdel Rahman El Omari told me that extra staff were being brought on board to help with the issue and that all the backlog would be cleared up. So far, 3 people have reported getting money since that holiday ended almost 2 weeks ago.
Omari claimed that people just weren't reporting getting money. I asked him to email people and CC me to confirm that it had been sent. He decided to wait a day. Previously, he'd sent me a spreadsheet listing some of those who had complained. I asked him to send me a list of who on that spreadsheet got paid. He said it would take 12 hours. Every attempt to get him to speed this up was met with more excuses. I'll buy the "it's 3 am here and I can't,", but find that he couldn't go through a list of account numbers and see who had payments sent by late afternoon to be unbelievable. Later, he said he could complete the easiest part of this in an hour. Finally, the easy part was an updated list of those who had complained to the FPA who were still owed money instead of any indication that any money had been sent. I asked Omari to send payments to thise who had Liberty Reserve accounts and no problems with their Prime4x accounts, to email the recipients of the money, and to CC the info to the FPA. Omari agreed and then missed another promised time without a single email confirming a single payment. Another broken promise from Prime4x.
From what I can tell, it looks like Prime4x either cannot or will not process withdrawals for a large numbers of clients. Like Prime4x's clients, I have lost all faith in all promises made by anyone who works for Prime4x. I kept telling Omari that only actions would prove good faith and he keeps making more hollow promises.
I pray that Omari will prove me wrong. I look forward to seeing all clients get paid all the money that's owed to them. I hope to see dozens of emails and reviews saying "payment sent, payment received."
If you have a pending withdrawal from Prime4x that is at least 2 weeks old, please post information about it here....
https://www.forexpeacearmy.com/fore...53-report-prime4x-withdrawal-issues-here.html
Include your account number and the date you first requested the withdrawal. Include the dates of any follow-ups messages you sent about your withdrawal. If you feel comfortable sharing the info, please also include the amount of the withdrawal.
At this point, the FPA strongly recommends against depositing any money with Prime4x until the bulk of these withdrawal issues can be resolved. If major progress isn't made soon, there won't be any choice but to declare a formal scam finding against Prime4x.
Prime4x needs to spend less time promising and more time paying money owed to clients. That's the only thing that can save the company's reputation.
