RESOLVED Case# 2015-084 | KentC vs svsfx.com

Based on the available evidence, do you believe that SVSFX.com is guilty?

  • Guilty

    Votes: 69 100.0%
  • Not Guilty

    Votes: 0 0.0%

  • Total voters
    69
  • Poll closed .

KentC

Recruit
Messages
11
Original FPA Traders Court Submission:

I am submitting the case against: www.svsfx.com/

My Case is: I opened an account in SVS Securities Plc to trade gold in Oct 2014. I made deposit USD13000 to SVS. Then I traded and made account balance become USD83925 by 13 Nov 2014. Later I sent a withdraw request of USD 55000.

On 18 Nov 2014, SVS informed me of closing my account and would refund me the initial deposit only (i.e. remove all the profits I've made), because I didn't send the appropriate documents for account opening but they somehow activated my account wrongly.

I think SVS should take all the responsibility on this issue. It's the company who approved my registration, activated my account, accepted my deposit, and allowed me to trade on their platform! How come they can accuse me of being not satisfied your account opening requirements and reinstate my account to initial position after I've traded a long time in their company? I guess it's just because I was lucky enough to win some money so they tried to renege and steal my profits.

New thread in the Scam Alerts Folder:

Review is submitted by KentChao on 05/20/15

The company was first contacted about the issue on 11/19/14 the last contact was on 05/20/15

Details: Thank you for your email, we have now further reviewed this matter and unfortunately your account should not have been activated and we apologise for this error.

However, as per our T&C’s we have restated your account to the position if you had not activated your account and your initial deposit refunded back to your bank account , we are entirely able to do so as per the standard terms and conditions.

Company representatives' emails: Kulvir Virk <Kulvir@svssecurities.com>;
SVSFX - Support <support@svsfx.com>;
Dwayne Graham <d.graham@svssecurities.com>;
Adrian Gleave <a.gleave@svssecurities.com>

 

Attachments

  • 2014Nov19 - SVSFX informed account closure.pdf
    170.7 KB · Views: 18
Check your thread in Scam Alerts. Once you invite the company to that thread, post an update so people can see that they've been invited.

Don't invite them to this thread. While it's in the Case Prep folder, very few people can see it.
 
Have you heard anything back from SVSFX yet?

The last reply from them was on 11th Dec 2014:

"Dear Mr Chao,

It is within or T&C’s that we can reinstate an account to initial position where an account has not satisfied our internal requirements.

Regards

Adrian Gleave
Business Development | SVS Securities Plc
110 Fenchurch Street, London, EC3M 5JT
T: +44 (0)203 700 0100 | DDI: +44 (0) 203 700 0055 | F: +44 (0)203 700 0101
E: adrian.gleave@svssecurities.com | www.svssecurities.com
"
 
You've opened a duplicate case thread against SVSFX, and that one includes a threat against you if you complain publicly. Can you copy that information over to this thread?

Yo AsstMod! Can you please get a formal invitation issued soon?
 
Is svsfx.com a bucket shop?

This is classic bucket shop by definition, when the clients order never enters the liquidity market and stays on their demo server, the broker can't cover the client's profits.
 
The usual BS!! It never ceases to amaze me how many SCAMMERS are in this industry!! Everything is fine & in order when they take your deposits BUT when it comes to WITHDRAWALS -the number of crappy excuses dished out are increasing daily!!

GUILTY - I say!!!
 
you would have thought that if there was documentation missing that you would have been asked to provide it.not having all of your profits removed.this is a clear case for me.
 
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