Unfortunately I have to agree with Laurens from Netherland and THT from Vietnam, because I have the same experiences. I don’t talk about big money, but if this company does this for just a little money, then what does this company do, if this is about more thousand dollars?
In summary:
I opened a cent account at this company just a few days ago. I made a little profit, and when I wanted to withdraw my money, they disabled my account without any good reason, and they didn't send my money back.
(Meanwhile I've found a similar problem in scam alert folder: https://www.forexpeacearmy.com/fore...8-figfx-com-scamed-my-29-usd-please-help.html)
My experiences:
- execution times are usually between 3-56 seconds
- if you want to withdraw your money, then they try to mislead you and they will find the way no to send your money back, of course without any good reason or explanation
- there are many other contorversial things on their page:
1. https://secure.figfx.com/why-trade-forex.aspx here they write the minimum deposit is $5 if you open a cent account, here this is $10 https://secure.figfx.com/cent-accounts.aspx ;
2. they write in this page that the minimum withdrawal is $10, but if you try to withdraw your money, then you’ll get an error message, that the minimum is $25;
3. theoretically there is a live help on their page, but this doesn’t work, you’ll get always a message that they are currently serving other clients, so send an offline message instead;
4. theoretically they don’t use dealing desk (NDD-execution), but in this case the execution times wouldn’t take more than 1 seconds, but here these are 3-56 seconds.
So, if you don’t want to lose your money, then stay away this „company”!
So here is my story:
I opened an account at this company and I made just a few trades, I didn’t use any EA and I made a minimal profit. It seems there are a few tricks, which this company uses.
They claim that their execution type is NDD. Despite of this the execution time is between 3 and 56 seconds in my experiences. There were times when the 3 second was valid, but another time it was between 22 and 56 (without any news). So they have small spreads, but they use delayed executions with market order. It means, you can’t control the price, so yes, you’ll never get requotes, but you may get another prices which you wanted (trick #1).
A few days later I tried to withdraw my money ($17.63) from FigFx. They write on their page, that the minimum withdrawal amount is $10. I made my request, but after I clicked the submit button, I got an error message, that the minimum amount is $25 (trick #2). I tried to chat with them online using live help, but it never worked in the last 1 month. You may believe, that you can get answers and solutions everytime, because you see a picture about their „live help”, but you’ll not able to use it, because in practice it doesn’t work (trick #3). So you have to send an offline massage, because as they wrote: „All our customer support representatives are currently serving other clients. It might be more reasonable to leave us a message.”.
As I wrote this status is valid for all time, so I notified their support team, that I have a problem with the withdrawal. Firstly they asked me to fill my trader profile. I made this and I submitted my ticket about this problem again. Meanwhile I asked them how I can change my ticket priority to high, because I didn’t find anything to do this on their page. And I had another question too about this „live help”. I didn’t get any answer for my first question, and my second question was answered: „We use ticketing system instead of live chat.”. It became important later, because they wrote this in another message:
„I would appreciate if you stop annoying everybody with your useless tickets. To us it appears you are using a very old browser that is unable to even submit a withdrawal request or see a chat window. Fix your issues, then start complaining about errors, if any.”
So these messages are controversial, as many other things about this company, as I mentioned above. Anyway I use the latest Firefox and I wrote to them, that it isn’t a client-side problem, but this „problem” on server-side. They use ASP-pages, which means Active Server Page. If you make a request, it is sent to the webserver, it processes the request and sends back the message (typically a dynamically generated webpage). In this case it was the „Sorry, the minimum amount for withdawals is $25.”.
So their trick #4: they try to mislead you with technical explanation, and if you don’t know the informatics, then maybe you’ll believe them. Meanwhile I made another deposit ($10) to skip the „minimal withdrawal” problem, and I wrote my opinion about their explanation.
After this they disabled my account without any good reason and I got this message:
„Your account has been disabled for addressing our team members with public insults in your previous ticket and in multiple occasions. You do not make any good addition to our family of trades, and you are absolutely not welcome here.
I would appreciate if this would be the last time we hear from you.
So vain you are, so vain.”
So this is their final trick (#5): they will find any false reason to close your account.
After this message, I asked them again to send my money back, but I didn’t get my money back ($17.63 + $10) so far and my account is still disabled.
Please, check our full conversation (support_ticket_1.jpg) in the attachement, and decide for yourself, what the truth is, and which behavior is incorrect!
In summary:
I opened a cent account at this company just a few days ago. I made a little profit, and when I wanted to withdraw my money, they disabled my account without any good reason, and they didn't send my money back.
(Meanwhile I've found a similar problem in scam alert folder: https://www.forexpeacearmy.com/fore...8-figfx-com-scamed-my-29-usd-please-help.html)
My experiences:
- execution times are usually between 3-56 seconds
- if you want to withdraw your money, then they try to mislead you and they will find the way no to send your money back, of course without any good reason or explanation
- there are many other contorversial things on their page:
1. https://secure.figfx.com/why-trade-forex.aspx here they write the minimum deposit is $5 if you open a cent account, here this is $10 https://secure.figfx.com/cent-accounts.aspx ;
2. they write in this page that the minimum withdrawal is $10, but if you try to withdraw your money, then you’ll get an error message, that the minimum is $25;
3. theoretically there is a live help on their page, but this doesn’t work, you’ll get always a message that they are currently serving other clients, so send an offline message instead;
4. theoretically they don’t use dealing desk (NDD-execution), but in this case the execution times wouldn’t take more than 1 seconds, but here these are 3-56 seconds.
So, if you don’t want to lose your money, then stay away this „company”!
So here is my story:
I opened an account at this company and I made just a few trades, I didn’t use any EA and I made a minimal profit. It seems there are a few tricks, which this company uses.
They claim that their execution type is NDD. Despite of this the execution time is between 3 and 56 seconds in my experiences. There were times when the 3 second was valid, but another time it was between 22 and 56 (without any news). So they have small spreads, but they use delayed executions with market order. It means, you can’t control the price, so yes, you’ll never get requotes, but you may get another prices which you wanted (trick #1).
A few days later I tried to withdraw my money ($17.63) from FigFx. They write on their page, that the minimum withdrawal amount is $10. I made my request, but after I clicked the submit button, I got an error message, that the minimum amount is $25 (trick #2). I tried to chat with them online using live help, but it never worked in the last 1 month. You may believe, that you can get answers and solutions everytime, because you see a picture about their „live help”, but you’ll not able to use it, because in practice it doesn’t work (trick #3). So you have to send an offline massage, because as they wrote: „All our customer support representatives are currently serving other clients. It might be more reasonable to leave us a message.”.
As I wrote this status is valid for all time, so I notified their support team, that I have a problem with the withdrawal. Firstly they asked me to fill my trader profile. I made this and I submitted my ticket about this problem again. Meanwhile I asked them how I can change my ticket priority to high, because I didn’t find anything to do this on their page. And I had another question too about this „live help”. I didn’t get any answer for my first question, and my second question was answered: „We use ticketing system instead of live chat.”. It became important later, because they wrote this in another message:
„I would appreciate if you stop annoying everybody with your useless tickets. To us it appears you are using a very old browser that is unable to even submit a withdrawal request or see a chat window. Fix your issues, then start complaining about errors, if any.”
So these messages are controversial, as many other things about this company, as I mentioned above. Anyway I use the latest Firefox and I wrote to them, that it isn’t a client-side problem, but this „problem” on server-side. They use ASP-pages, which means Active Server Page. If you make a request, it is sent to the webserver, it processes the request and sends back the message (typically a dynamically generated webpage). In this case it was the „Sorry, the minimum amount for withdawals is $25.”.
So their trick #4: they try to mislead you with technical explanation, and if you don’t know the informatics, then maybe you’ll believe them. Meanwhile I made another deposit ($10) to skip the „minimal withdrawal” problem, and I wrote my opinion about their explanation.
After this they disabled my account without any good reason and I got this message:
„Your account has been disabled for addressing our team members with public insults in your previous ticket and in multiple occasions. You do not make any good addition to our family of trades, and you are absolutely not welcome here.
I would appreciate if this would be the last time we hear from you.
So vain you are, so vain.”
So this is their final trick (#5): they will find any false reason to close your account.
After this message, I asked them again to send my money back, but I didn’t get my money back ($17.63 + $10) so far and my account is still disabled.
Please, check our full conversation (support_ticket_1.jpg) in the attachement, and decide for yourself, what the truth is, and which behavior is incorrect!
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