Crown Forex - Outright Thievery

obe24 · (#1 (**permalink**))

I realize I need 10 posts in order to submit a qualified scam ticket - but I'd like to put this out there as a warning to anyone else that has funds with Crown.

The short version is that a couple weeks ago, I had 10 contracts open at the close of business on Friday. Come Sunday evening at open, I was locked out of my account. I could not get an answer from Crown over the phone. They kept referring me to their compliance dept which never responded. I certainly never got anything in writing. Not a notification, not an explanation, not anything. Monday morning the price went through my take profit levels. Still heard nothing. Finally, Monday night, after multiple phone calls, they told me that they had deactivated my account. They would not give me a reason, or a price where they closed me out. All they said is that I could send up a withdrawal form to close my account. I did this and they sent me a fraction of what they owe me.

After two weeks of hassling them, I have received absolutely NOTHING in writing from these guys, and nothing but the run around over the phone.

By my reckoning, they owe me about $75K. I have proof of my positions.

If the FPA is interested in moving a scam investigation forward, please let me know. Otherwise I will be happy to file a formal scam ticket here shortly. Feel free to respond to this thread or contact me via email.

ernest8fingers · (#2 (**permalink**))

Obe24 - what a world! U place a trade w/Broker-watch it grow into profit-follow all Broker rules-and then after the elation of making money off your hard earned expertease subsides- you then have to fight your Broker for YOUR money! Maybe if large #'s of these Brokers CEO's went "missing" we might find a vastly different Forex Landscape? How much longer do we all let ourselves be robbed? The answer is.......? I hope u get your money and a pound of their flesh!

obe24 · (#3 (**permalink**))

Anyone have any suggestions on official channels and or contacts with Swiss regulators? Anyone have experience with them? Thanks.

I know Crown is regulated by an org that is overseen by the Swiss government, so I'm hoping that there will be some chance of recourse there.

Also thinking of putting through a complaint with Credit Suisse since that's where Crown's main bank account is. If anyone has any experience with any of these organizations, I would appreciate the help.

charlyt · (#4 (**permalink**))

This is nothing, I am having trouble withdrawing with crown forex since sept 15. and I am not getting paid.

you should take your money away before is to late.

obe24 · (#5 (**permalink**))

That's about the same time that my trouble with Crown started also.

What amount are you out?

By my calculations Crown owes me $75,000.00.

I still have not been able to get a single thing from them in writing. I even tried to just get an activity report - they won't even respond to that request.

Anyone with any knowledge of the Swiss regulatory system or government financial oversight would be greatly appreciated.

I have been speaking at them and emailing in vain for 45 days now.

GregKas · (#6 (**permalink**))

I have been trying to get my funds, I emailed a withdrawal request over three weeks ago, have emailed reminders, phoned them with no response from them.
I have a freind who is also not getting a response from them.

budigautama · (#7 (**permalink**))

Hello

I have the same problem, they are not replying to my withdrawal request for 1 month.

Anyone tried to contact Swiss Embassy or maybe can we report to Interpol ?

Budi

GoldenFX · (#8 (**permalink**))

Hello everyone:

I also have problem withdrawing fund from Crownforex since early September.

So far they just try to ignore us, delay, and give a run around.

FPA is helping a few people that problem with Crownforex. We should join together and fight them.

We also should consider hire Swiss attorney to represent us and bring them to court if need to be. Let me know who is interested in doing this.

We need to make contact list of all victims and work together. May be FPA AsstModerator can help us compile the email contact list.

budigautama · (#9 (**permalink**))

We are interested and agree to hire a swiss attorney together and bring them to court. My email is ih8888@gmail.com

budigautama · (#10 (**permalink**))

Crown Forex will be having seminars in Dubai Nov 18-20 and Kuwait Nov 23-25, we will have to make sure that someone bring this issues during the seminar to prevent more victims. If there is any victim living in Dubai or Kuwait, please speak for us. Otherwise, we could join forces to send a delegate there.