I feel like such an idiot because even after I discovered this forum I decided to give UFX Market the benefit of the doubt since I had already invested my money with them. They are SCAMMERS! I repeat they are SCAMMERS. A similar thing happened to me and given that we are in the business of making money one tends to hope for the best. I initially deposited $1000 with UFX then was subsequently urged by one DANIEL SILLARS to increase my account to $5000 so as to qualify for VIP treatment. I kept on losing trades until I found this site and decided to fired him after he made me lose $1500 in a space of a week. I had even told him that I wasn't comfortable with risking so much of my money but he persisted and continued to give losing trades. After I fired him some guy, whose name I cannot recall (I think it was Richard) called from UFX just yesterday and told me that he had heard that I was dissatisfied with SILLARS and that he would replace him. He told me that he is a master when it comes to indices and even though I had told him that I wasn't sure about them since they are so expensive he assured me that he was positive that they are going to go up by 7% this month. He made two winning trades to appease me then on the third, to which he told the dealing room that I had confirmed, he wiped out my entire account. What made me upset was that he didn't even place a STOP LOSS. I am really upset with these people and do not know what I can do to expose them. I URGE EVERYONE TO SHUN AWAY FROM UFX MARKETS. THEY ARE CROOKS!
I opened an account with UFX Markets on July 26, 2012. I deposited $1000, was given a bonus $300. After being persistently urged by the account manager, Mr Alex Cooper, to deposit more funds, I deposited another $300. The account grew to about $6000. The problem began when I started to make my first withdrawal. Immediately after making a withdrawal of $700, the account manager recommended a trade. Upon recognizing that this trade was losing, he said I should increase the Stop-Loss and the market will turn in my favour. I executed his recommendation. He then disappeared, went on holiday without informing me, and then the account went down to $2600. Upon his return, he recommended more and more losing trades until the account was completely wiped out. He then urged me to take a loan and deposit at least $1000. He promised that the amount will be doubled very quickly and I will be able to pay back the loan very soon. I, unfortunately, acted on his recommendation. He then recommended that I should execute a SELL trade on the EUR/USD. When I saw that the EURO was rising, I asked him if I should close the trade and take the losses. He said I should hold on to the trade as the EURO will DEFINITELY FALL after the NonFarm Payroll Announcement. This was against every market prediction that I subsequently read.
I believe Mr Cooper has deliberately set out to compromise my account, and I have been scammed.
I would strongly recommend against dealing with UFX Markets. I have remained with loans that I cannot repay.