Original FPA Traders Court Submission:
I am submitting the case against: www.investTechfx.com
My Case is: My deposit and withdraw history:
02 Jan 2009, deposited US$1110 to my account by Paypal.
Feb 20, 2009, withdrew US$210 to my PayPal to test out the withdraw process and everything was smooth.
11th March 2009, deposited US$4100 and qualified the Silver a/c “trading bonus” $250 on 13th March 2009.
06 Apr 2009, withdrew US$890 ---no issue
20 Apr 2009, withdrew US$2060. No issue. Trading bonus US$250 removed the same day.
03 Feb 2010, deposited US$10,000 and received US$1500 as the trading bonus. (Agreement reached: put me into a group that is commission free and also allowed using EA on condition of 1:deposited US$10,000 to qualify as a gold a/c 2. committed to trade with them for a year. I did that. However, they still charge me commission but in the end, refunded them later on.
15 Apr 2010 3265.80 commission rebate was deposited. (But the comment was trading bonus!!)
27 Apr 2010 1944.60 commission rebate was deposited. (But the comment was also trading bonus!!)
On March 2009 I introduced two of my friends opened a/c with InvetTechfx and as a result US$200 referral fee was deposited (Deeply Regret!!!).
Please see below the sequents of communication in between InvestTechfx and I.
Time flys.
On 16th Jan 2011, I emailed to InvestTechfx to withdraw US$6000 by wire to my bank account.
17th InvestTechfx replied that “In regard to your request, we would like to inform you that we are unable to proceed your withdrawal request since you have commited until Feb. 2011. Thank you and have a nice day”.
I was ok with that explaination.
On 27th Jan I received: ”Your withdrawal request has been completed. Thank you and have a nice day!” I checked my a/c and see no withdraw and asked them why and they replied this on 28th Jan, "Dear Valued Customer,
We will proceed with your request once the commitment is finished. Thank you and have a nice day! Yours sincerely, InvestTechFx
I was very much assured.
On 4th Feb I emailed them to ask them to proceed with the withdraw. No reply.
Chat online and support told me that they will talk to the management directly.
8th Feb, 2011 emailed them to change the withdraw request to US$10,000. No reply.
9th Feb 2011, forwarded the email to support/info/mng@invettechfx.com No reply.
Chatted with online support and was told that " they are Straight Through Processing, we always adhere to a procedure that has us forward your account details to a third party liquidity provider"."They give us no guarantee of how long that process takes Your request is in process currently."
Called the a/c manager and no answer.
10th Feb 2011 received “We have received your request, and we will update you shortly. Thank you and have a nice day! “
12th Feb emailed again. No reply.
16th Feb emailed again. No reply.
16th Feb emailed 2nd time and changed the request to US40,000. And provided them two withdraw options. Either to my paypal or wire.
16th Feb replied “ We have received your request, and we will update you shortly. Thank you and have a nice day!
22th Feb 2011 emailed again but no reply.
23rd chat with online support. (I:Recently there are a few withdraw cases against Investechfx all are saying that they couldn't withdraw their money, various reason are given by Investechfx, I am worried about money now. Support3:google "forexpeacearmyfelix"
Support3: that guy is the one who causes these issues)
25th called Alan’s office number again and finally able to talk to him. Recorded down the conversion. Please hear it in the attachment:
In the conversion: after I told him my a/c balance, how much I deposited and how much I want to withdraw, he sounded suddenly irritated and talked a few times that ‘ do you believe you are a good trader”…..bluh bluh bluh, then followed by the VIP a/c commitment until “ end of this year”, after I told that my a/c commitment already finished, then he told me that I must email him one month before the commitment to end the commitment or the commitment will be automatically renewed….then I told him that his rule is ridiculous and I am not in the position to know his “rule” if he don’t mention it anywhere….at that moment my worry become real and I decided not to continue the conversion. So I and asked him just reply my email.
By 27th Feb no further email from InvestTechfx.
Regarding the VIP a/c, I am afraid that I am not qualified as I only deposited less than US$15,000 and only got US$1500 for the trading bonus. Unlike the VIP a/c as stated on their website, deposit more than US$20,000 and got 25% bonus. I guess that because the bonus that the VIP a/c are locked for one year. But for my case, I shouldn't be classified as a VIP as I only got silver a/c bonus.
I am afraid by my own effort that I cannot take back my money. I plead the help from FPA on my issue. Greatly appreciats.
P.S., Since June 2010, InvestTechfx suddenly lowerd their spread on all the pairs. All the cross lowered to only 1 pip and major to 0.5 pip
!! As a client I cannot belive it as that greatly improved my profit factors but I was also wondering whether they could make enough money to sustain their business...now maybe I know
Robert Li
I can provide the emails and all the trading record for verification.
New thread in the Scam Alerts Folder:
Review is submitted by Robert Li on 02/16/11
The company was first contacted about the issue on 01/16/11 the last contact was on 02/25/11
Details: On 27th Jan”Your withdrawal request has been completed. Thank you and have a nice day!”
28 Jan Dear Valued Customer,
We will proceed with your request once the commitment is finished. Thank you and have a nice day!
10th Feb 2011 received “We have received your request, and we will update you shortly. Thank you and have a nice day! “
16th Feb replied “ We have received your request, and we will update you shortly. Thank you and have a nice day!
Company representatives' emails: Alan <mng@investtechfx.com>
xxx <support@investtechfx.com>
xxx <info@investtechfx.com>
I am submitting the case against: www.investTechfx.com
My Case is: My deposit and withdraw history:
02 Jan 2009, deposited US$1110 to my account by Paypal.
Feb 20, 2009, withdrew US$210 to my PayPal to test out the withdraw process and everything was smooth.
11th March 2009, deposited US$4100 and qualified the Silver a/c “trading bonus” $250 on 13th March 2009.
06 Apr 2009, withdrew US$890 ---no issue
20 Apr 2009, withdrew US$2060. No issue. Trading bonus US$250 removed the same day.
03 Feb 2010, deposited US$10,000 and received US$1500 as the trading bonus. (Agreement reached: put me into a group that is commission free and also allowed using EA on condition of 1:deposited US$10,000 to qualify as a gold a/c 2. committed to trade with them for a year. I did that. However, they still charge me commission but in the end, refunded them later on.
15 Apr 2010 3265.80 commission rebate was deposited. (But the comment was trading bonus!!)
27 Apr 2010 1944.60 commission rebate was deposited. (But the comment was also trading bonus!!)
On March 2009 I introduced two of my friends opened a/c with InvetTechfx and as a result US$200 referral fee was deposited (Deeply Regret!!!).
Please see below the sequents of communication in between InvestTechfx and I.
Time flys.
On 16th Jan 2011, I emailed to InvestTechfx to withdraw US$6000 by wire to my bank account.
17th InvestTechfx replied that “In regard to your request, we would like to inform you that we are unable to proceed your withdrawal request since you have commited until Feb. 2011. Thank you and have a nice day”.
I was ok with that explaination.
On 27th Jan I received: ”Your withdrawal request has been completed. Thank you and have a nice day!” I checked my a/c and see no withdraw and asked them why and they replied this on 28th Jan, "Dear Valued Customer,
We will proceed with your request once the commitment is finished. Thank you and have a nice day! Yours sincerely, InvestTechFx
I was very much assured.
On 4th Feb I emailed them to ask them to proceed with the withdraw. No reply.
Chat online and support told me that they will talk to the management directly.
8th Feb, 2011 emailed them to change the withdraw request to US$10,000. No reply.
9th Feb 2011, forwarded the email to support/info/mng@invettechfx.com No reply.
Chatted with online support and was told that " they are Straight Through Processing, we always adhere to a procedure that has us forward your account details to a third party liquidity provider"."They give us no guarantee of how long that process takes Your request is in process currently."
Called the a/c manager and no answer.
10th Feb 2011 received “We have received your request, and we will update you shortly. Thank you and have a nice day! “
12th Feb emailed again. No reply.
16th Feb emailed again. No reply.
16th Feb emailed 2nd time and changed the request to US40,000. And provided them two withdraw options. Either to my paypal or wire.
16th Feb replied “ We have received your request, and we will update you shortly. Thank you and have a nice day!
22th Feb 2011 emailed again but no reply.
23rd chat with online support. (I:Recently there are a few withdraw cases against Investechfx all are saying that they couldn't withdraw their money, various reason are given by Investechfx, I am worried about money now. Support3:google "forexpeacearmyfelix"
Support3: that guy is the one who causes these issues)
25th called Alan’s office number again and finally able to talk to him. Recorded down the conversion. Please hear it in the attachment:
In the conversion: after I told him my a/c balance, how much I deposited and how much I want to withdraw, he sounded suddenly irritated and talked a few times that ‘ do you believe you are a good trader”…..bluh bluh bluh, then followed by the VIP a/c commitment until “ end of this year”, after I told that my a/c commitment already finished, then he told me that I must email him one month before the commitment to end the commitment or the commitment will be automatically renewed….then I told him that his rule is ridiculous and I am not in the position to know his “rule” if he don’t mention it anywhere….at that moment my worry become real and I decided not to continue the conversion. So I and asked him just reply my email.
By 27th Feb no further email from InvestTechfx.
Regarding the VIP a/c, I am afraid that I am not qualified as I only deposited less than US$15,000 and only got US$1500 for the trading bonus. Unlike the VIP a/c as stated on their website, deposit more than US$20,000 and got 25% bonus. I guess that because the bonus that the VIP a/c are locked for one year. But for my case, I shouldn't be classified as a VIP as I only got silver a/c bonus.
I am afraid by my own effort that I cannot take back my money. I plead the help from FPA on my issue. Greatly appreciats.
P.S., Since June 2010, InvestTechfx suddenly lowerd their spread on all the pairs. All the cross lowered to only 1 pip and major to 0.5 pip
!! As a client I cannot belive it as that greatly improved my profit factors but I was also wondering whether they could make enough money to sustain their business...now maybe I know
Robert Li
I can provide the emails and all the trading record for verification.
New thread in the Scam Alerts Folder:
Review is submitted by Robert Li on 02/16/11
The company was first contacted about the issue on 01/16/11 the last contact was on 02/25/11
Details: On 27th Jan”Your withdrawal request has been completed. Thank you and have a nice day!”
28 Jan Dear Valued Customer,
We will proceed with your request once the commitment is finished. Thank you and have a nice day!
10th Feb 2011 received “We have received your request, and we will update you shortly. Thank you and have a nice day! “
16th Feb replied “ We have received your request, and we will update you shortly. Thank you and have a nice day!
Company representatives' emails: Alan <mng@investtechfx.com>
xxx <support@investtechfx.com>
xxx <info@investtechfx.com>