eFOREX.com Review

I made a deposit into my account with eforex through liberty reserve since 2nd march 2011 and uptill now my account has not been credited. I opened my account through cashbackforex and notified them about this problem. They told me eforex is off site and they are not responding to mail. I have done everything to get across to them but all prove abortive. There online chat has been off line, phones are not working and mails are not being answered. Please eforex, where ever you are return my funds. My account number is 9006642

I opened an account with eFOREX about two month ago and deposited about $5000. I'm a swing trader so I kept some positions from 9/14 until they close my account for ridiculous reason. All those positions were making money right now if they didn't force me to close them on 10/22 with losing about $1000.

Suddenly, eFOREX the SCUM BROKER sent me an email, "eFOREX Account Deactivation Notice" and it said " Your Client Agreement and application with eFOREX, Inc. (EFX) will be deactivated due to missing identification on the account. Please note your account shall be deactivated starting at 12:00 pm Eastern Daylight Time on Friday October 22, 2010 and the account balance will be returned in the same manner as the funds were received. Transaction fees may apply. Please note if you have open positions on your trading platform, you must close the positions before 12:00 pm Eastern Daylight Time on Friday October 22, 2010; otherwise, eFOREX is not responsible for loss incurred due to deactivation. "

The reason they kick me out is missing identification on the account. What a HELL!! They didn't even ask me to re-submit my another ID! And it should be done before they approve to open the account? I didn't scalp neither anything wrong. What a NICE business they are doing. They got about 20% of my assets for the reason they lost my ID!! And of course that money include their profit!

I understand they have a rights to cut off any honest customers by any reason, but this is NOT right business manners in any world, even anybody, any traders in the world will think this is a fraud case.

I don't have time nor money to go to Panama to see them, so only I can do is spread this fact they did, and prevent this happened for all other their current and future customers.

The posting below is not legitimate because I am the only Sam who has worked for i-tradefx and eForex. Simply put, eForex is a legitimate brokeage firm with a solid platform.

Review Moderation Team Note: This review came from the same location as a previous 4 star review left for iTradeFx.com claiming to be a happy client from California.

A trading platform can be reviewed in terms of service charge,leverage ratio offered,ease of use,availability of practice accounts,uptime and available resources to educate new traders.eForex have a practice account for practice trading which acts just like the real market.The platform also offers to pay you $25 for opening a account and funding it with $25.It also allows traders to trade in nearly all the tradable currencies of the world like dollar,euro,pound,dinar etc.But the problem with eForex lies in it spread ratio.They charge upto 17.1 PIPs for a transaction.Also the process of withdrawal of earnings is little lengthy.The software they ask to download to trade in the forex is relatively easy to use but it can slow down your computer a little bit.If you trade with eForex, remember to ask the customer support about their service charge and withdrawal requirements.Although, this trading platform is never charges any hidden fee.You can trade with full security.You can pay and withdraw money by your credit card, debit card, wire transfer and moneybookers account

I work for this company, well a company owned by the family. They used to own i-Trade FX. I would stay clear, Market Traders is still ok, still overpriced, but ok. However, eforex is horrible and the same thing as i-trade, a bucket shop.