2011 Forex Broker Scam of the Year Winners

AsstModerator

FPA Forums and Reviews Admin
Messages
5,575
2011 Forex Broker
Scam of the Year Winners

There were only 3 candidates this year. Each of them deserved this award, but only one could win.

The Third Place award goes to JadeFx.com. Their trade server went down and the CFTC filed charges shortly afterwards.

The Second Place award goes to Prime4x.com. Abdel Rahman El Amary, aka Omari and his band of criminals lied for months, paying a small handful of traders while stalling on all other payments. Finally, the company disappeared. it resurfaced later as CommexFx. A new scam finding has been placed against the new names for Prime 4x. This makes Omari and his companies eligible for the 2012 Forex Broker Scam of the Year Awards.

This leaves one active scam broker in possession of the majority of the votes. The 2011 Forex Broker Scam of the Year Award goes to...

InvestTechFx.com
aka ITFX

These scammers are happy to let traders deposit and make profits. Just don't try to withdraw any money. If you do, you'll have a good chance of finding out that you've qualified for VIP status. That comes with the privilege of having all your money locked up for a year. If that excuse doesn't work, you'll find that you somehow violated some rule or another and that your funds are still locked up.

The newest twist is that there are reports of InvestTech Fx is filing small claims court cases against traders. It seems that successful trading is somehow costing the company money and they are suing to collect damages. In some cases the damages are more than the amount in the account.

Is InvestTechFx.com holding your funds hostage? If so, please post an update in this thread...

InvestTechFx Problems? Post here.


Other InvestTechFx links...

Discussion Thread for the Scam Finding against InvestTechFx

FPA Scam Finding against Invest Tech Fx

FPA Review Page for InvestTechFx



Tired of hearing about scam brokers? Take a break to read and share good broker experiences here.
 

Joh

Sergeant Major
Messages
976
I feel sick in my stomach with the scam reports from this broker scum mentioned above.
Thank you all for bringing this to our attention and warning us. One is just
as bad as the other -they all deserve to win this top award .
May these Mongrels get theirs :mad:.
 
Messages
180
I wish they were stiffer punishments to discourage others from ripping off traders. The encouragment for crime is the incentive to get away with a slap on the wrist
 

Rage

Private
Messages
16
It's a shame that broker names aren't posted.........if we had names to match with the companies then we could ask for a executive/broker listing and scan for personal names................
 

Pharaoh

Colonel
Messages
19,782
It's a shame that broker names aren't posted.........if we had names to match with the companies then we could ask for a executive/broker listing and scan for personal names................
A good idea, but they'll find a way around it. Other people will be appointed to impressively titled positions while the people identified in previous scams will pull the strings anonymously.

Of course, some people aren't bright enough to do this. Omari was stupid enough to register CommexFx under his own name with Cysec.
 

ElGordo-D

Recruit
Messages
5
I guese i was fooled also.. i wonder who these SOB are. Im trying to withdraw now for 2 months no call back no e-mail. guese i will be more carefull next time lost $4000.00 back to the drawing board ..The good thing is that there are good brokers..These bastards can go to hell!!
 

Denny W

Private, 1st Class
Messages
32
Thanks for FPA warning, it prevents me to dealing with those broker. Keep up the good work to make trader more safe on this forex world
 
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