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  1. #1
    Join Date
    Aug 2011
    Saudi Arabia

    Default UFX Bank is a scam company

    UFX Bank is a Scam company.
    I agree to every word in Paul Barsha review.
    My story is as follow :
    I deposit 5000 usd after someone called me many times to open an account with them, and he told me that he can give advise and he can trade on my behalf to make profit, I trusted him and he added 1500 USD as a Bonus.
    I start trade with them with the help of my friend, my account balance reach 22000 USD next day received an email that all transactions been canceled and my new balance is only 9000 usd.
    I sent them an email complain and called them but their answers was very rude and start to speak to me in a very silly and dirty way.
    I told them ok i want to close my account take the bonus and pay me back my money, they told me we can pay you only the deposit amount you start with as you did not reach the volume necessary to have the Bonus, and you have to complete 23 millions USD as volume to be eligible for withdrawing the full amount.
    I told them pay me back my deposit and close my account, so they return my deposit and took all the rest.

    I ask FPA to help me get my money back from those people as those people do not pay bonus or the profit, and their speak like a street vocabulary using very rude and dirty words when communicating* with any issue.
    For all who wants to trade with UFXBANK.

    Stay away, Stay away and stay away.

    I warn you they are a scam company do not have a try.

    What happened to Paul Barsha is 100% true, and if you need proof i can be contacted on :

    Abdullah Almuthyb, Saudi Arabia

  2. #2
    athenafx's Avatar
    athenafx is offline AthenaFx Representative
    Join Date
    Jan 2011


    Of course UFX bank is a scam.

    They are not even a bank !

    This broker is a deposit broker only.

    They should have disappeared since a long time but they continue to find novice traders.

    If you want to fight them then create a site such as or with all links and stories on the web and obviously including the links to the various threads at FPA.

  3. #3
    RahmanSL's Avatar
    RahmanSL is offline Master Sergeant
    Join Date
    Jan 2010
    On top of Mt. Kinabalu


    ...not that you can get back your money though!

    But your postings will help warn off other impatience and gullible Newbie traders who think they can become rich fast without having to do any research on brokers before quickly handing over their money to sweet talking and persistent broker's salesmen/women.

    BUT...and that's a big BUT....somewhere out there, some wanna-be Newbie trader will still fall for the same old trick.
    In time, the Newbie will stumble across the FPA site and the whole cycle will be repeated....a never ending story!
    As long as there are homo Sapiens around, there will be scammers...good and bad, Yin & Yang, birth & death, fire & water...and goes on!

    Once you have been scammed by a none regulated scammer broker, there really is nothing much you can do to recover your money except to scream all over the internet denouncing that scam broker....sort of like the town crier of old!

    That most unpleasant experience would be enough to put off most Newbie, but my advice is not to give up so easily as there is definately money to be made in trading the forex. We just need to park our money with a reasonable good broker and trade sensibly and wisely with good money management.

    Good luck in your forex journey!
    Last edited by RahmanSL; 09-10-2011 at 06:18 PM.
    "Making Profit IS EASY, keeping it IS NOT!"@

    Do you know that each & everyone of us were in a group of between 20 to 40 million individual sperms, each competing to be the first to get into the female egg and the prize is to be born??
    All of us here obviously won the race while millions perished in defeat.

  4. #4
    chaosscrem is offline Private, 1st Class
    Join Date
    Feb 2010

    Default They are funny

    "[14] Trading With Automated Software

    UFXBank does not allow trading via Trading Robots or any other type of automatic trading software. If it is discovered that a trade is or has been executed by a Robot or other software on your behalf, we will consider this grounds for termination of our trading agreement and cancel the requested trade."

    It means that they might cancel any trade actually according to their Terms and Conditions. They are pure f....ers
    Im not sure that point is in accordance with the MIFID and Cyprus financial law.
    I think You sholud ask CySec about it.

  5. #5
    Pharaoh's Avatar
    Pharaoh is offline Sergeant Major
    Join Date
    Oct 2007
    Tropical Locations


    Rules like that make me wonder if some EAs are finally getting bright enough to not only make a profit, but to remain profitable over time.

    Of course, a REAL broker that passes trades onto the real market wouldn't be afraid of profitable robots or traders.

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