Abandoned - Vantage FX 200000 dollars stolen

[200000]

These posting will help definitely not! I need to attract BIG ATTENTION to my case so better tell me where I should Personally go and protest and attract attention. It is only my hope.
Take into account that I already look like homeless and have many health issues!

 

[HeavenLeighRob]

I'm sorry to hear that you're dealing with this and haven't been able to get any help retrieving your funds. I'll be sure to warn others about this broker and hope that you eventually hear back with a resolution.

 

[200000]

It is 8 months..., I'm sure without big mass public pressure Vantage group give me anything!

 

[200000]

Any idea where to go to start the protest, making big noise?

 

[The Punisher]

Any idea where to go to start the protest, making big noise?

Contact your local media (news station, news paper, etc.) and explain thoroughly what occurred.

 

[200000]

Local Czech media is too small pond for company like Vantage. It have to have really big impact, means global.

 

[200000]

Even such nonsence local stupid media refuse to listen my crying old mother and told she had to hire lawyer.
In this case nonsence!

 

[200000]

So if anyone have contacts where or to who to go, but not here means where could have impact like in London etc. let me know.

 

[old_long_johnson]

As was mentioned by someone else here, the OP should find out if the money that he deposited to his trading account has a connection to Australia. If what he deposited was held in an Australian bank account, then he can submit a complaint to the AFCA. With the complaint, he should submit any emails that he had with the broker, trading account statements, bank records, and credit card records.

https://www.afca.org.au/make-a-complaint

https://www.afca.org.au/about-afca/rules-and-guidelines

B.3 Sufficient connection with Australia

B.3.1 A complaint must arise from:

a) a contract or obligation arising under Australian law, including but not
limited to privacy obligations;

b) an offer to invest that was received in Australia by a Complainant in
relation to a recognised Foreign Collective Investment Scheme; or

c) a direct or indirect investment in a product through a platform which was
offered in Australia.

Next, he can also submit a complaint if the forex broker is licensed in Australia, but if the broker didn't obey the laws of foreign jurisdictions such as Czech Republic. The AFS licensee is required obey the laws of foreign jurisdictions.

AFS licensee obligations | ASIC

asic.gov.au

AFS licensees have obligations relating to:

• conduct and disclosure
• the provision of your financial services
• the competence, knowledge and skills of your responsible managers
• the training and competence of your financial advisers and authorised representatives
• ensuring your financial advisers and authorised representatives comply with the financial services laws
• compliance, managing conflicts of interest and risk management
• the adequacy of your financial, technological and human resources, and
• your dispute resolution and compensation arrangements (if your clients include retail clients).

The broker should have been registered in the EU country of Czech Republic to open accounts for Czech Republic residents.

login page)

Regulated institutions and registered financial market entities lists

apl.cnb.cz

Forex regulation in Europe falls under MiFID II guidelines, which means that a standard set of rules and regulations apply to all European Union member states equally. A common practice in the EU, which is perfectly legal, is for FX brokers to obtain a license in a region like Cyprus and then “passport” regulation to all EU member states. It’s important to highlight that each EU member state has specific rules and regulations pertaining to their respective country which, in some cases, may supersede EU regulation.

In conclusion, a forex broker cannot just register any client offshore and violate securities laws of foreign jurisdictions.

https://www.newswire.ca/news-releases/international-online-trading-platforms-pay-more-than-4-million-following-settlement-with-the-osc-835967880.html

It is imperative that foreign market participants, including online trading platforms, identify and comply with local securities laws. VGP and VIG were foreign-based firms that operated unregistered online trading platforms under the name "Vantage FX" and allowed Ontario residents to trade CFDs. In response to a notice from its licensor, the Australian Securities & Investments Commission, about the legality of its overseas offerings, VGP ceased its Ontario operations, but gave Ontario investors the option to be transferred to its Cayman affiliate, VIG. The Ontario investors that did not close their accounts continued to trade CFDs on VIG's "Vantage FX" online trading platform.

"Regardless of the location of their home base, offshore platforms offering services to Ontarians are subject to Ontario's securities laws," said Jeff Kehoe, Director of Enforcement at the OSC. "We will take corrective action against firms that try to 'jurisdiction shop' and fail to comply with our laws. These companies cannot avoid their regulatory obligations by relocating their operations."

As part of the settlement agreement, VGP and VIG have agreed to pay an administrative penalty of CAD 600,000 and to disgorge USD 3 million. The companies have also agreed to pay a further CAD 10,000 towards the cost of the OSC's investigation.

Additionally, both companies implemented significant internal controls and procedures to prevent Ontario residents from opening accounts.

 

[200000]

Yes, I could make AFCA complain, thats no problem. But will it resulted in something meaningful?
I am in edge situation and I need the funds back ASAP.
Yes, Vantage should be registered with CNB but how to push them to refund?