DuPontFX.com Review
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1 REVIEWS
Out of business
Updated: Apr 13, 2022
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Website is down. Company seems to be out of business.
June 2014 WARNING: The FPA recommends against doing business with Mercer Fx and DupontFx. Please see the MercerFX review page for details of why this recommendation is being made.
Out of business
1 •
1 REVIEWS
Recent User Reviews of DuPontFX.com
T
TK1
, Malaysia,
May 15, 2014,
Guest
Dupont FX - Withdrawals not processed
I opened 2 accounts with Dupont FX about more than 6 months ago. The initial deposit sums were USD2000 and USD1000 and bonuses of USD1000 and USD500 were given respectively.
As at 8 May'14, the position of the accounts is as follows:-
A/C 1 :- Deposit [2,000] – W/drawal [1,000] + Wins [904] + Bonus [1,000] = Balance [2,904]
A/C 2 :- Deposit [1,000] + Wins [443] + Bonus [500] = Balance [1,943].
I have requested for withdrawals since 1st May and 6th May’14 for the total amounts of USD3347 which are my deposit sums (USD2000) and the winnings’ amounts (USD1347). The bonus amounts are not being withdrawn. At the accounts’ level, the amounts requested for withdrawals are USD1904 (A/C 1) and USD1443 (A/C 2).
In my teleconversation with an officer of Dupont FX (Mr Bader) on 7th May’14, I was informed that I am not allowed to make the above withdrawals as I have yet to transact the minimum number of lots (250 lots were mentioned). It came as a surprise as it was never made known upfront and even the customer service officer in my conversations with him all along had never mentioned these `so called bonus conditions’. I am not agreeable and I protested on these conditions. The officer (Mr Bader) said he will work out my so called entitlements and without prejudice to my rights, I agreed for him to work out and show me his computations. Since then I have followed up with 2 emails to him for his detail computations and the rules of the bonus conditions etc to support his computations.
It has been a week now since I last talked to the officer (Mr Bader) and about 2 weeks overall since I initiated the first withdrawal on the 1st May’14. They have yet to process my withdrawals and or otherwise to show me their computations nor have they contacted me or replied my emails. Based on the events so far, I am not sure of them refunding my monies which tantamount to acts of cheating and dishonesty.
Separately, I opened another account with Dupont FX in Apr’14 with a deposit of USD5000 and a corresponding bonus of USD5000. The account was blown away within 2 weeks and an analysis of the transactions show that they were highly irresponsible in their risk management. The details of these events are summarized in my feedback comments on the broker’s page and thread.
I note that 4XP, SkyFx, Sunbird FX, DupontFx and now Mercer FX are linked one way or another through a Mr Jake Amar/Mr Jacob Amar who is holding (or previously held) various positions and interests either as the owner, CEO, director, managing partner, partner, senior account manager, business development, support etc. The numerous complaints from the investors who had been trading with them would not all be coincidental. The sources of these information are attached.(not able to attach here)
I opened 2 accounts with Dupont FX about more than 6 months ago. The initial deposit sums were USD2000 and USD1000 and bonuses of USD1000 and USD500 were given respectively.
As at 8 May'14, the position of the accounts is as follows:-
A/C 1 :- Deposit [2,000] – W/drawal [1,000] + Wins [904] + Bonus [1,000] = Balance [2,904]
A/C 2 :- Deposit [1,000] + Wins [443] + Bonus [500] = Balance [1,943].
I have requested for withdrawals since 1st May and 6th May’14 for the total amounts of USD3347 which are my deposit sums (USD2000) and the winnings’ amounts (USD1347). The bonus amounts are not being withdrawn. At the accounts’ level, the amounts requested for withdrawals are USD1904 (A/C 1) and USD1443 (A/C 2).
In my teleconversation with an officer of Dupont FX (Mr Bader) on 7th May’14, I was informed that I am not allowed to make the above withdrawals as I have yet to transact the minimum number of lots (250 lots were mentioned). It came as a surprise as it was never made known upfront and even the customer service officer in my conversations with him all along had never mentioned these `so called bonus conditions’. I am not agreeable and I protested on these conditions. The officer (Mr Bader) said he will work out my so called entitlements and without prejudice to my rights, I agreed for him to work out and show me his computations. Since then I have followed up with 2 emails to him for his detail computations and the rules of the bonus conditions etc to support his computations.
It has been a week now since I last talked to the officer (Mr Bader) and about 2 weeks overall since I initiated the first withdrawal on the 1st May’14. They have yet to process my withdrawals and or otherwise to show me their computations nor have they contacted me or replied my emails. Based on the events so far, I am not sure of them refunding my monies which tantamount to acts of cheating and dishonesty.
Separately, I opened another account with Dupont FX in Apr’14 with a deposit of USD5000 and a corresponding bonus of USD5000. The account was blown away within 2 weeks and an analysis of the transactions show that they were highly irresponsible in their risk management. The details of these events are summarized in my feedback comments on the broker’s page and thread.
I note that 4XP, SkyFx, Sunbird FX, DupontFx and now Mercer FX are linked one way or another through a Mr Jake Amar/Mr Jacob Amar who is holding (or previously held) various positions and interests either as the owner, CEO, director, managing partner, partner, senior account manager, business development, support etc. The numerous complaints from the investors who had been trading with them would not all be coincidental. The sources of these information are attached.(not able to attach here)
T
TK1
Malaysia, Malaysia,
May 8, 2014,
Guest
Dupont FX Review - 1. Stay Away from their Managed A/c (Autotrading A/c). What a load of BS!
2. Determine upfront on their so called `bonus conditions’. Many other brokers don’t have similar conditions, so why must we accept!
I funded my account with USD5k and received an equivalent amount of bonus. Within about 2 weeks, the account was blown away with a loss of USD9,584.41.
From an analysis of the trades made [not able to attach], it is clear that the team is at best highly negligent, and at worst, fraudulent! Come on guys, you don’t make monies from your clients with that kind of lot sizes. There were 24 lots buy and 24 lots sell within a minute span, out of a USD10k account! This is irresponsible risk management. Win or lose, imagine the amount of spreads they just made!
Separately, I have another 2 accounts and have been trying to make withdrawals a few days ago. The original investment amounts are USD2000 and USD1000 (6 months ago) and bonuses of USD1000 and USD500 were given. The position of the accounts as at 8 May’14 is as follows:-
Deposit / Win Bonus Balance
(Withdrawal)
A/C 1 2000 904 1000 3904
(1000) (1000)
-------- ----- ------ ---------
1000 904 1000 2904
A/C2 1000 443 500 1943
------- ------ ------- -------
2000 1347 1500 4847
===== ==== ===== =====
I have requested to make withdrawals of USD3347 (2000 + 1347) which are my deposit sums and the winnings’ amounts. However, I was informed yesterday (7 May’14) that I am not allowed to do so as I have yet to transact the minimum number of lots. What a surprise as it was never made known upfront and even the customer service officer in my conversations with him all along have never mentioned these `so called bonus conditions’. I am protesting on this matter and will be following up with the broker on these rules and am currently waiting for them to work out the `so called’ entitled withdrawal amounts.
My other brokers do not have these conditions and I know a lot of them don’t. Overall, it has been a bad experience. They just want your money. Stay away.
TK,Malaysia 9 May14
2014-05-06 2Star Wanted to make a withdrawal but the process is very slow. Website does not allow online withdrawals although deposits can be made. Initial request by email submitted to their Support since 1 May'14 with a few follow-ups and clarification and have yet to see the funds being withdrawn. Online Support is not 24/7 as claimed. Called their office between 9am -11.30 am (their local time) today and there is no one to take the call.
2. Determine upfront on their so called `bonus conditions’. Many other brokers don’t have similar conditions, so why must we accept!
I funded my account with USD5k and received an equivalent amount of bonus. Within about 2 weeks, the account was blown away with a loss of USD9,584.41.
From an analysis of the trades made [not able to attach], it is clear that the team is at best highly negligent, and at worst, fraudulent! Come on guys, you don’t make monies from your clients with that kind of lot sizes. There were 24 lots buy and 24 lots sell within a minute span, out of a USD10k account! This is irresponsible risk management. Win or lose, imagine the amount of spreads they just made!
Separately, I have another 2 accounts and have been trying to make withdrawals a few days ago. The original investment amounts are USD2000 and USD1000 (6 months ago) and bonuses of USD1000 and USD500 were given. The position of the accounts as at 8 May’14 is as follows:-
Deposit / Win Bonus Balance
(Withdrawal)
A/C 1 2000 904 1000 3904
(1000) (1000)
-------- ----- ------ ---------
1000 904 1000 2904
A/C2 1000 443 500 1943
------- ------ ------- -------
2000 1347 1500 4847
===== ==== ===== =====
I have requested to make withdrawals of USD3347 (2000 + 1347) which are my deposit sums and the winnings’ amounts. However, I was informed yesterday (7 May’14) that I am not allowed to do so as I have yet to transact the minimum number of lots. What a surprise as it was never made known upfront and even the customer service officer in my conversations with him all along have never mentioned these `so called bonus conditions’. I am protesting on this matter and will be following up with the broker on these rules and am currently waiting for them to work out the `so called’ entitled withdrawal amounts.
My other brokers do not have these conditions and I know a lot of them don’t. Overall, it has been a bad experience. They just want your money. Stay away.
TK,Malaysia 9 May14
2014-05-06 2Star Wanted to make a withdrawal but the process is very slow. Website does not allow online withdrawals although deposits can be made. Initial request by email submitted to their Support since 1 May'14 with a few follow-ups and clarification and have yet to see the funds being withdrawn. Online Support is not 24/7 as claimed. Called their office between 9am -11.30 am (their local time) today and there is no one to take the call.