Resolved - Issue with Fortress Fund Money Manager & Knight Capital Forex Brokerage

[Pharaoh]

Invite Knight Capital to come back to this thread and explain things.

 

[Setty Vas]

Interestingly now they are saying they can't find my account with my name

 

[Pharaoh]

Hello Knight Capital Markets! Are you really telling a client you can't find him?

Setty, put your name, account number, and a screenshot of something showing you have an account with them in all emails. That should make it harder for them to screw up this badly (or to pretend to be this incompetent).

 

[Setty Vas]

update on the withdrawal request status:

I submitted withdrawal request on 18th Feb and asked them to transfer funds to the same credit card which I used to deposit funds initially. Since then I was in contact with them at least once in 2 days asking for the update.

Every time I send email some one ask me more details about your account name / account number / credit card number/ address / amount of withdrawal/ amount how much I funded etc etc... but no real update of what is the status of transaction. After I send them the requested information, they respond to that email saying thanks and will get back with the update. But no initiation from them.

After a long delay they said some problem with credit card payment so ask me my bank account details for wire transfer and I send them the information promptly. Again silence from them when I chase again now they are saying they are waiting for bank's trace update for the initial payment as they don't want to do double payment . I am still waiting for the funds as of today (09 Apr).

i am attaching the latest email from them below:

We are working diligently to hear from the bank. We sincerely apologize for the error but have very little control. We will update you immediately when they reply.
Kindest regards,

Lucy Hamilton
Knight Capital - Tier 2 Admin Support Desk

Don't know how to proceed any further with this.

 

[Setty Vas]

Update after 2 months of withdrawal request as on 26 Apr, Still waiting for the money from Knight Capital.

They sent me a reference number and ask me to contact my bank and enquire why the payment is not credited in to my account???

which I did, however my bank said they can't trace any payment to my account and confirms that they can't do anything and its Knight Capital's merchant bank who should trace the payment. I gave all the details to Knight Capital now again they are silent as always. Its been more than 2 months that I made my withdrawal request. since then I was in touch with them atlas every other day.

Today I am going to ask them to come to FPA and explain themselves. Lets see what happens.

thanks
Sridhar

 

[Pharaoh]

Helloooo Knight Capital! Perhaps you could just write a check to Setty and put it in the mail?

 

[Setty Vas]

my last email to KCM today:
--------------------------------

Here find the statement of my credit card you can see on 17th Nov I made payment of 4000 GBP to Knightcapital market.

Since then there is no credit payment except monthly minimum payment I make and on 12 Apr I made full payment from my account since I am being charged the interest on the balance.
This confirms that there is no payment from you that is credited in to my account.

When I contacted HSBC they said they can't trace any payment with the reference number you provided as it never hit my account.

Now can you send me the exact date of the transaction, amount, currency and the Marchant bank name & address that you made payment I will see if I can ask my bank to see if there is any thing they can do. This is been a while the withdrawal is requested and it is very frustrating.

I also raised the concern in ForexPeaceAcademy on this matter, can you visit the following site and see if you can provide some feedback? There is is raised a topic in the scam folder in FPA under the name of Vas Setty.

https://www.forexpeacearmy.com/comm...r-knight-capital-forex-brokerage.43159/page-7


Thanks
Sridhar

 

[Pharaoh]

If that doesn't get their attention, leave them an updated 1 star review.

 

[Setty Vas]

Hi All,

Now a final update on this withdrawal request.

After 4 months of waiting and after lots of emails. Now I confirm that I received the payment from KCM.

Not sure exactly what caused this delay as KCM kept saying they processed the refund but my bank denies of any receipts.
After involving FPA in to the emails finally KCM contacted my bank and resolved the issue on Friday last week 04 Jun.

I really really appreciate FPA for their help with regards to this matter.

Thanks again for all the people who listened and helped me.

Kind regards
Sridhar

 

[FelixU1963]

Count yourself very lucky. Most of us did not get a penny back after they deliberately blew the accounts in December 2015.