Resolved - Regulated broker scams £7000+ EuropeFX.com

I have been hounded by phone calls from Europefx via UK, Cyprus and Switzerland often at least 3 x daily Monday, May Day Holiday May 7th - Friday, May 11th. I have received recently emails pressuring me to forward my payment details again dated 13th & 14th May 2018. The first of a series of emails informs me of the escalating of my allegations to an appropriate representative. See below:
Dear Miki,




Thank you for contacting us, your complaint has been escalated to Mr. Lem – EuropeFXs’ Executive Clients Relation Manager.


Rest assured that we take your allegations very seriously, for that reason I would like to schedule a call between you and Mr. Lem with no delay .


Kindly, provide me with your earliest convenient timeframe this week for him to contact you directly and start his internal inquiry by addressing your allegations towards EuropeFX.”



Sincerely yours,




Rachel Green


Clients Relation asistant

Telefon: +49 30 20179836
Web: www.europefx.com
I am not interested in answering their calls or emails. I have not answered any apart from one by Gidon Shuman on 7th May who asked “what do you want?”...”communicate with me” when I stated “I want my money back but no signing of a waiver form”. I would like to proceed to a ForexPeaceArmy court case. I will require some support to do so please. Do I reiterate, reduce or repost all that has been posted on this thread so far?
 
Again...
Dear Milli,


I haven’t heard from you.



Rachel Green

Clients Relation Managers Assistant

Office: +357 24 022 444

Web: www.europefx.com




“EuropeFX” is a brand owned and operated by MAXIFLEX GLOBAL INVESTMENTS CORP LIMITED, registered as a Cyprus Investment Firm (CIF) with the registration number HE327484 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 258/14 in accordance with Markets in Financial Instruments Directive (MiFID).


Risk Warning: Trading Forex and CFD involves substantial risk and may lead to loss of all invested capital. Click here to review the Risk Disclaimer.



From: Rachel Green
Sent: Sunday, May 13, 2018 4:07 PM
To: 'mil********@gmail.com' <mil********@gmail>
Subject: FW: Clients relation department
 
My response will be an email requesting all my money from my final balance and without swap fees. I require a CIF unique reference number to appeal further also to CySec and Financial Ombudsman to intervene.
 
15/05/18 Email forwarded:


Hi Rachel,


I am requesting the full balance of £7,095.99 as in my account 02/02/18 and stipulated to Gidon, before swap fees were applied.

The waiver or no claims form I cannot sign as it is detrimental to my financial wellbeing.

I ask again requiring a Unique Reference Number be provided me by Europefx to further forward my complaint with CySec and the Financial Ombudsman.

Yours sincerely,
Mili
 
15/05/18 Email forwarded:


Hi Rachel,


I am requesting the full balance of £7,095.99 as in my account 02/02/18 and stipulated to Gidon, before swap fees were applied.

The waiver or no claims form I cannot sign as it is detrimental to my financial wellbeing.

I ask again requiring a Unique Reference Number be provided me by Europefx to further forward my complaint with CySec and the Financial Ombudsman.

Yours sincerely,
Mili

Unique reference number? Can you please point to this requirement?

You should not need any reference # (from the offender) in order to file a complaint with any regulatory body.

Just go ahead and file it.
 
I post from my last correspondence from the financial ombudsman

Kindly note that we cannot proceed to investigate your complaint unless the fee of 20 euro, determined by Law, is fully paid.

In addition, you need to provide us with a copy of your complaintsubmitted to the financial business against which your complaint is directed and the Unique Reference Number which wasprovided by the company when acknowledged receipt of your written complaint. The format of the Unique Reference Number is XXyyyynnnn (i.e. AB20151234). This reference number is a prerequisite to be provided by all financial businesses regulated by the Cyprus Securities and Exchange Commission (CySEC).

If you have any questions when completing your application please do not hesitate to contact the Financial Ombudsman Office for any further clarifications, office phone number +357 22848900.


Thankyou

Financial Ombudsman Office
 
The Broker manipulations of MiliC8 trading account refers to Criminal Practices, next the waiver, too bad without any signature, evidently such case should not even involve any kind of financial meditation services, but a criminal court with its Judge !

This is to be a EU regulated broker, what a nasty joke :mad:

Btw 11.500 – 2400 = 9 100...... don’t ever let these bandits rob you

A quick FPA court vote is a must
 
...I have been recently corresponding with the Financial Ombudsman regarding an offending brokerage in Cyprus. Yes I initially forwarded emails to CYSEC but soon discovered as stated on the website that the Financial Ombudsman should be sought for client restitution & CYSEC conducted a supervisory mandate as a regulator. I have as yet to begin a thread on my broker in the Scam Alerts Folder. The financial ombudsman requires in addition to the 20 EUR fee that the CIF one is complaining about acknowledges receipt of your complaint by providing you with a Unique Reference Number. Matters cannot be pursued further without both requirements being fulfilled. As it is in my particular case my CIF has chosen to make only investigative phone calls or communicate via SKYPE/text only. Personnel involved have not responded to my emails & requests for this U.R.N. hence I have no other option but to follow through now with FPA procedure which I am truly grateful for.

I post from my last correspondence from the financial ombudsman

Kindly note that we cannot proceed to investigate your complaint unless the fee of 20 euro, determined by Law, is fully paid.

In addition, you need to provide us with a copy of your complaintsubmitted to the financial business against which your complaint is directed and the Unique Reference Number which wasprovided by the company when acknowledged receipt of your written complaint. The format of the Unique Reference Number is XXyyyynnnn (i.e. AB20151234). This reference number is a prerequisite to be provided by all financial businesses regulated by the Cyprus Securities and Exchange Commission (CySEC).

If you have any questions when completing your application please do not hesitate to contact the Financial Ombudsman Office for any further clarifications, office phone number +357 22848900.


Thankyou

Financial Ombudsman Office

Can you post a screenshot of this email please?
What email address are you getting these emails from?
Can you (or FOS) please point to the law (webpage) that requires a fee be paid and/or Unique reference # in order to begin complaint investigation?

I've never heard of this. The broker is supposed to pay into the dispute resolution scheme set by the regulator, not the consumer/complainant. It is normally a statutory requirement for a broker to obtain or keep a license to be part of the dispute resolution service.

Also, requiring information that requires the other party take action should not be a requirement to completing a complaint.

If this is true that CYSEC FOS has gone to charging fee from the complainant before investigating a case, then CYSEC is in worse condition that I originally thought.

edit: I see the form now requiring 20 EUR fee. (And bank deposit/wire is the only way to pay it). Is this a new form? I never heard of that before.

attachment
 

Attachments

  • COMPLAINT FORM IN ENGLISH BY INDIVIDUALS.pdf
    154.8 KB · Views: 18
Last edited:
I’ve taken screenshots of my email as received from financial ombudsman & pdf complaint form. Please if published safeguard my email details as FPA have kindly done before. Hope this info helps others. Infuriating as it is for a complaintant. Pdf contents posted first pages 1-4.

THE FINANCIAL OMBUDSMAN OF THE REPUBLIC OF CYPRUS
COMPLAINT FORM
AGAINST FINANCIAL BUSINESSES
BY INDIVIDUALS
under the Law 84(Ι)/2010, as amended or replaced (hereinafter «the Law»).
Α. GENERAL INFORMATION
By filling in this form individuals can submit a complaint to the Financial Ombudsman against financial businesses, regarding a protest or objection or dispute of value up to the amount of one hundred and seventy thousand euro
(€ 170.000), provided that the conditions are cumulatively met, under provision of articles 9 and 10 of the Law.
These conditions are as follows:
(a) The complaint is submitted by a consumer.
(b) The consumer has previously addressed his complaint in writing to the financial business against which the complaint is directed, within fifteen (15) months from the date he/she became aware or reasonably should have become aware of the damaging act or failure of the financial business or the fact that he/she had reason for submitting a complaint.
(c) The consumer has received a reply to the complaint from the financial business, which does not satisfy him/her, within a specified period of three (3) months from the date of receipt of the complaint or has not received a reply from the financial business and the three-month period has expired. The complaint is submitted to the Financial Ombudsman within a specified period of four (4) months from either the date of receipt of the reply from the financial business or the deadline of the three-month period during which the financial business had to respond to the consumer.
(d) The financial business the complaint is directed against must have been in operation, under legal authorization or under the freedom of establishment regime, at the period referred to in the complaint.
(e) The transaction falls under the supervision of the responsible supervisory authority.
(f) A decision on the same complaint has not already been issued by a Court of the Republic and a judicial procedure is not pending for the enquiry of the same complaint.
The complaint can be submitted to the Financial Ombudsman in one of three (3) ways:
(a) By hand or by post to the address 13 Lordou Vironos Avenue, 1096, Nicosia or P.O. Box 25735, 1311, Nicosia (b) By facsimile (fax) to 22-660584 or to 22-660118
(c) By electronic mail (e-mail) to the address: complaints@financialombudsman.gov.cy
The complaint must be accompanied by a receipt of payment of the fee of twenty euro (€ 20). The payment can be made to one of the following accounts:
(a) Cooperative Central Bank or Cooperative Credit Institution,

IBAN: CY16 0070 1010 0000 0000 4002 8214 (b) Hellenic Bank, IBAN: CY78 0050 0109 0001 0901 7087 6401 (c) Bank of Cyprus, IBAN: CY52 0020 0195 0000 3570 1944 4789
Swift Code & BIC Code: CCBKCY2N Swift Code & BIC Code: HEBACY2N Swift Code & BIC Code: BCYPCY2N
For more information please visit the website of the Financial Ombudsman of the Republic of Cyprus (www.financialombudsman.gov.cy).
B. FALSE STATEMENTS AND CONCEALMENT OF INFORMATION
Under article 26 of the Law, whoever knowingly makes false, misleading or fraudulent statement or conceals an essential element or in any way obstructs the complaint investigation by the Financial Ombudsman, during the process of providing information for the purposes of the Law or Directives issued under it, is guilty of an offense and on conviction is subject to imprisonment not exceeding two years or to a fine not exceeding ten thousand euro (€ 10,000) or to both such penalties.
C. STATEMENT OF CONSENT for Collection and Processing of Personal Data under the Law 138(Ι)/2001, as it is amended or replaced.
I the undersigned (note your name & surname) ............................................................... with identity card no. or passport no. .............................. give my consent and authorize the Financial Ombudsman, to store and process personal information for the purpose of investigation of the complaint I submit with this form.
........................................................................ ........................................................................ [Full Name & Surname] [Signature]
Date: ...................................
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D. COMPLAINT DETAILS D1. Complainant Details
Name:
Surname:
Identity Card No. /Passport No.:
Nationality:
Occupation:

HOME ADDRESS

Street:
Number:
Flat No.:

Postal Code:
City/Town:
Country:


POSTAL ADDRESS (if different from your home address)

Street:
Number:
Flat No.:

Postal Code:
City/Town:



Country:


Mobile phone no.:
Home phone no.:
Fascimile (Fax) no.:

Electronic Mail (e-mail):
D2. Details about the Financial Business against which the complaint is directed
Fill in accordingly:
(Bank/Electronic Money Institution/Payment Institution/Insurance Company/Investment Services Provider Company/Mutual Funds Management Company/Other)
D3. Subject of Complaint
D.3.1. Amount relating to your complaint (up to one hundred and seventy thousand euro (€170.000)).

Business Name:

POSTAL ADDRESS OF BRANCH OFFICE

Street:

Number:

Postal Code:
City/Town:


Currency

Amount
In writing

Convert amount in euro (if the dispute involves foreign currency)

In writing
€___ ___ ___ .___ ___ ___

......................................................................
D.3.2. Description Of Complaint and resulting consequences
(Ι) Summary of complaint and recording of damages caused:
.
.......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... ..........................................................................................................................................................................................
2



....................................................................................................................................................................................
.......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... ..........................................................................................................................................................................................
If you need more space, please use additional page that bears your signature and attach it to the end of this form.
(ΙΙ) When and/or under what circumstances were you informed of the harmful, in your view, action or omission of the financial business or the fact that you had reason for submitting a complaint to the Financial Ombudsman?
Day
Month
Year
.......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... ..........................................................................................................................................................................................
If you need more space, please use additional page that bears your signature and attach it to the end of this form.
(ΙΙΙ) Have you initiated and/or are you aware of the commencement of any procedure relating to the submitted complaint before any Court in the Republic?
If Yes, note the case number: ...............................................
D.3.3. Submission of Complaint to the Financial Business
No
Yes

(Ι)
Have you submitted a written complaint to the financial business?
Date of submission of complaint to the financial business:
Yes / No

If Yes, fill in the (ΙΙ)-(V) below:

(ΙΙ)

Day
Month
Year


(ΙΙΙ)
Have you been informed that the complaint was received by the financial business?
If Yes, when?
Yes / No
Day
Month
Year

(IV)
Have you received a reply from the financial business? If Yes, when?
Yes / No
Day Month Year


(V)
Briefly explain why you are not satisfied with the reply of the financial business.

.......................................................................................................................................................................................... .......................................................................................................................................................................................... .......................................................................................................................................................................................... ..........................................................................................................................................................................................
If you need more space, please use additional page that bears your signature and attach it to the end of this form.
3

Ε. REQUIRED DOCUMENTS/INFORMATION TO BE SUBMITTED
Please check if you have attached the following documents and make a record of any other document/information that you have attached to this form (with reference number of each document attached).
No.
DOCUMENTS
ATTACHED? (YES/NO)
1.
Receipt of payment fee for complaint
2.
Copy of identity card or passport
3.
Copy of the complaint submitted to the financial business
4.
Complaint acknowledgement by the financial business (where applicable)
5.
Copy of the reply received from the financial business
6.
Copy of contract relating to the complaint (where applicable)
7.

8.
9.

10.
F. SIGNED DECLARATION
I hereby declare that until today a decision by a Court of the Republic has not been issued and/or is not pending and/or there is not any pending judicial procedure before a Court of the Republic in relation with my complaint submitted to the Financial Ombudsman of the Republic of Cyprus.
........................................................................ ........................................................................
[Full Name & Surname]
Date:...................................
[Signature]
FOR INTERNAL USE
Date of Submission of Complaint Form

Serial Number:.........../.........
Day
Month
Year
CODE
By hand
By Fascimile (fax)
By Electonic mail (e-mail)
By post
Date of Payment of Fee for Complaint

LCI at which deposit was made:
Day
Month
Year


Payment Fee Receipt Number


Contact Phone: +357 22848900
4
 
Please find email as received from financial ombudsman in Cyprus. I tried unsuccessfully to copy/paste hence presented in file format.

Attachment removed. If you want your email protected, please do not attach a file with your email address clearly showing.
 
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