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Problem forexoma.com brokerage?

I am having an issue with a company
lol yeah it took a lot of guts to do it, but once I figured it out I was like, "why not?".
With no regulation, I decided to take the risk and got burned. I knew this could happen when I started. That's why I used Paypal to deposit because I figured I could get something back if it went wrong.

I have an account with Forex.com and fxcm. They just really suck around news time. especially fxcm delayed feed and huge spreads.
There really don't seem to be many good American brokers for me out there. Forex.com has been good to me though as far as it goes.
If there was an American broker I trusted then I would never have opened an account with forexoma.
 
Yes indeed, trading without fear of losing give us extra guts to make trades that seasoned professional institutional-fearing Traders would exclaimed in horror and rushing for the holy forex book for salvation :p .....and I know, and have also tasted the feeling of exhilaration when you see profits in the thousands instead of in few dollars or even hundreds of dollars :p ....but that's trading dangerously which is the same as extreme sports.

Trading from the great old U.S of A does handicap you Traders and I completely empathize with you guys...consolation is that chances of being scammed is greatly reduced....BUT, even so, I wouldn't want to be in the U.S of A for trading the forex :p

I have Paypal reversed payment made to a lousy service provider, but it was for a small amount of under USD100....and also, I suspect, that have a lot to do with my complaint posted here at the FPA.

Okay, lets see how your case play out but, personally, I really am not optimistic in your recovery success. I do hope I am dead wrong;yah!
 
Well, since you ask about Paypal again, I have decided to share more information.

3/4 of my claims have been closed in my favor. I have recovered 3650 of the 6880 usd that I still had in the account (not counting profit). So, I have recovered just over 50% of my funds.
Paypal is not letting me process my claims for the additional money online because the payments are older than 45 days. I will call them on Monday to see if there is an exception in my situation seeing as Forexoma is not answering Paypal or me. Maybe they will make an exception and I will recover it all? lol not likely. $300 is still pending in that 4th claim. I assume I will also recover it, totaling 3950 usd recovered of the 6880 I had invested.

It appears that I will be able to resume trading sooner than expected. :) technical trading with regulated brokers. I am also looking into forming a IBC and going offshore so that I can trade with brokers from other countries regulated by EU, UK, AU... idk if I will be successful in creating the IBC though.


-------------------------------------------------------------------------------------------------------------------
Dear *****,

We have concluded our investigation into your case and have decided in your
favor.

We were able to recover $3,000.00 USD and this amount has been credited to
you. Please allow five business days for this adjustment to be posted.

If you are due any additional funds, we will make our best effort to
recover the balance from the seller.


If the seller's account has insufficient funds to complete the refund owed
to you, please be assured that we will take appropriate action against the
seller's account, which may include limitation of the seller's account
privileges.
-----------------------------------------------------------------------------------------------------------------------
 
Wow.... Paypal is better than I thought in recovering money on behalf of their client. I think is is one reason we cannot fund trading account via them to most brokers.

I like your attitude of not allowing this type of unfortunate episode in your trading career to get you down :cool:
As trader or wanna-be trader, this positive attitude is very essential for eventual success.

All the best in your continued battle and also for the trading days ahead.
 
Wow.... Paypal is better than I thought in recovering money on behalf of their client. I think is is one reason we cannot fund trading account via them to most brokers.

I like your attitude of not allowing this type of unfortunate episode in your trading career to get you down :cool:
As trader or wanna-be trader, this positive attitude is very essential for eventual success.

All the best in your continued battle and also for the trading days ahead.

Well, it's great to have people like you and the other people here on FPA to encourage me. I try to keep in mind that the positive attitude is nearly everything and so much is mental in trading, but I did have a hard week emotionally. More than I let on. Actually, the only thing that really lifted my spirits again was getting money back through Paypal. I was pretty down and going to take a couple months off of trading.

I appreciate your encouragement especially for the trading days ahead!
 
Hi dafox....

i have withdrew from FOREXOMA.COM since 31 July 2013 but till today i have not receive any news from them. I written to forexoma.com twice since 31 july 2013 but forexoma did not respond anything except the automatic computer response i thought. So I think I should follow your approach by contacting paypal. What are the info or documents needed by PayPal?

thanks.
 
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Log in to your paypal account and click on resolution center link.
there you can choose to file a claim on any recent deposits.
I am not sure if you can get back deposits older than 45 days, but that might need additional documentation that I am unaware of at this time.
I will update if I find out more about getting older deposits back.
 
Ok, So I just contacted Paypal by phone. They said that there is no exception to the rule about payments having to be 45 days old or less to file a dispute. They said that any other disputes older than 45 days have to be filed either through the credit card company or bank from which the funds came initially.

I am going to bed, so I will not pursue this any further today. I do not think that my bank offers protection through my debit card that I used though, so I doubt I will have any results. Recovering over 50% of my investment is far better than nothing.

If you have not filed with Paypal yet, please do so ASAP!! as every day is one day less that you can file claims! If your claims are on payments older than 45 days, please call Paypal to verify whom you need to contact to work on getting your funds back.
 
I have done that, sfc, cftc and paypal.
SFC requested more information, which I provided.
 
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