Problem Tim616 vs UFXMarkets.com & CySEC

[Pharaoh]

Get well first and get the scammers second.

 

[Tim 616]

Hi Guys,

I back and hopefully better. I have just sent this email to CySEC.

Re: Complaint (reference number 13.29.004.1011)
TA
Tim Ahchow
|
Today, 23:00
Anthousa Papacharalambous (apapacharalambous@financialombudsman.gov.cy)

Hello Anthousa,

I am sorry it took me so long to get back to you. I have been off having an operation. Getting better now.

The pictures on the emails are not visible even on the originals.

There 3 that have Deposit confirmation numbers on them, all from the 14/10/14, I hope that my help. See below.

I have been speaking to a Steve Myres from UFX, (stevem@ufx.com), he is quite a interesting person.

He won't put anything in writing however he does explain Reliantco as being like Microsoft.

In that Microsoft owns lots of companies ( Windows, Outlook, Skype, etc) but the day to day running is left up to 'Franchisees'.

He also tells me that the clients money is held in the Trading (Platform) Account not in Bank Accounts.

When money is deposited by wire it goes into the Account listed below.

Any other deposits (Credit Cards) are just in the Platform Account.

I hereby give permission for your analysts to log into my account to look at the Trading history.

This is the only way I can think off to let them see everything, as I couldn't do Screen Shots or Print.

The account log in is:

User name: tima

Password:

Please use this information with my total approval.

Thanks

Tim Ahchow


SBERBANK - UFX/RELIANTCO
SM
Steve Myers

Mon 22/08, 17:28
You

Bank Name:
Bank Address:

Account Name:
SWIFT:
USD Account Number
IBAN:

EUR Account Number:
IBAN:

Sberbank Slovensko, a.s.
Pobočka USTREDIE, VYSOKA ULICA,
Bratislava, Slovakia
UFX TRADE LIMITED
LUBASKBX
1040423205
SK4031000000001040423205

4040343807
SK4831000000004040343807


Hello Tim Ahchow,

You have successfully deposited funds into your UFXMarkets Trading Account. Here are your deposit details:

Account username: timahchow@hotmail.com
Amount: 1000 USD
Transaction ID: 10495442
Your current balance: 1000

Please keep this email for further reference.

Do you have any questions? Simply click here or contact us through online chat.


Hello Tim Ahchow,

You have successfully deposited funds into your UFXMarkets Trading Account. Here are your deposit details:

Account username: timahchow@hotmail.com
Amount: 19000 USD
Transaction ID: 10495446
Your current balance: 20000

Please keep this email for further reference.

Do you have any questions? Simply click here or contact us through online chat.
Hello Tim Ahchow,

You have successfully deposited funds into your UFXMarkets Trading Account. Here are your deposit details:

Account username: timahchow@hotmail.com
Amount: 15000 USD
Transaction ID: 10495557
Your current balance: 35000

Please keep this email for further reference.

Do you have any questions? Simply click here or contact us through online chat.


From: Anthousa Papacharalambous <apapacharalambous@financialombudsman.gov.cy>
Sent: Tuesday, 9 August 2016 20:48
To: 'Tim Ahchow'
Cc: 'Andria Papandreou'
Subject: RE: Complaint (reference number 13.29.004.1011)

Dear Mr. Ahchow,

Thank you for forwarding us the requested e-mails, however we cannot see the pictures therefore we kindly request you to provide the screenshots of these e-mails.

Additionally our analysts need, for their examination, the trading history of your account.

Please submit the above requested items the soonest.

Best regards,

Financial Ombudsman Office

 

[Pharaoh]

Your money is held in the trading platform? This means your money is already stolen and you are trading on a demo.

 

[Tim 616]

I think what he meant was that all the money is in a big slush fund and the only way they know whos money is whos is by the balance of your trading account.

Still not correct, but we are talking about UFX are we not?

I have a very strong idea that some trades taken with UFX they are actually taking the other side of the trade.

 

[Tim 616]

Here is the latest reply from CySEC

Dear Mr. Ahchow,



Thank for the below information and we hope you are well now.


Kindly note that Reliantco Investments Ltd owns the UFX platform, which can be used by a number of companies. We need to determine the company that holds and manages your account, since it is the company that is regulated and not the platform.


Please be informed that it is not possible for our office to access your account. Since it is not evident from the information submitted so far, we suggest you to submit an e-mail to either your account manager or better the support team requesting them to inform you of the company that holds your account and where is located. From our experience they usually they provide this information.


Best regards

Financial Ombudsman Office

I have a feeling that he is trying to fob my off, again.

 

[Tooncastle]

Still not really sure why they are making your compliant process so hellish. I have recently just submitted my complaint to them am I am really hoping things aren't as complicated dealing with the ombudsman as they have with you. Will keep you all posted.

 

[Tim 616]

Good luck, I also hope that you don't get the run around that I have had.

 

[Pharaoh]

UFX has spread its tentacles to other nations to make ducking liability easier. Try to verify which branch you are with. While waiting for them to reply, contact the Belize regulators too. That's one place they have (had?) a registration.

I have a very strong idea that some trades taken with UFX they are actually taking the other side of the trade.

Actually, you are trading in a demo account. Win or lose, you'll never see the money again if UFX has anything to say about it.

 

[Tooncastle]

I did contact belize but still no reply. UFX made "fake" withdrawals from my account to compensate the money from my charge back and since haven't paid me anything. Looks like this is the end of my funds being returned, but I let the ombudsman know about all the abuse they treated me with. I am hoping they can fine them just based off of poor broker issues. It's scary how violate this company is. Never ever again!

 

[Tim 616]

Thanks Pharaoh, I have contacted Belize, can now only wait and see.