I sent out a withdraw request on the evening of October 13 US EST. The next morning, when I try to access my account, I can no longer login. I sent out an email inquiry, and the respond is that my account has been suspended and under review. After a whole week of reuesting additional information, here is what I received today.
Sorry to inform you that due to the violation of the following clause in our trader agreement number 27, your account has been suspended:
LEVERAGE.
MONEYFOREX enables currency trading to be conducted on a highly leveraged basis. Every trader is able to select the degree of leverage that the trader wishes to employ in trading. Unless the trader specifies otherwise, MONEYFOREX sets the leverage level at MONEYFOREX's default margin level of 200:1 ratio for the deposited amount. The requirements for leverage vary with account size, and may be changed from time to time at the sole discretion of MONEYFOREX, based on volume traded and market conditions. Any one user or account that has more that USD$100,000 in balance, it will be changed to Platinum account which has a margin level of 50:1. This leverage policy is set by MoneyForex and violation of this policy will cause suspension of account.
Therefore, your account cannot be re-open and will be suspended for indefinately.
Online Forex Trading System, Global Foreign Currency & Exchange Broker
Administration Department
Fax (International):+1 646 403 3549 (North & South America)
Toll Free Fax:+1 888 489 2409 (International)
Obviously, anyone with the right frame of his mind can figure out what they are trying to do.
Sorry to inform you that due to the violation of the following clause in our trader agreement number 27, your account has been suspended:
LEVERAGE.
MONEYFOREX enables currency trading to be conducted on a highly leveraged basis. Every trader is able to select the degree of leverage that the trader wishes to employ in trading. Unless the trader specifies otherwise, MONEYFOREX sets the leverage level at MONEYFOREX's default margin level of 200:1 ratio for the deposited amount. The requirements for leverage vary with account size, and may be changed from time to time at the sole discretion of MONEYFOREX, based on volume traded and market conditions. Any one user or account that has more that USD$100,000 in balance, it will be changed to Platinum account which has a margin level of 50:1. This leverage policy is set by MoneyForex and violation of this policy will cause suspension of account.
Therefore, your account cannot be re-open and will be suspended for indefinately.
Online Forex Trading System, Global Foreign Currency & Exchange Broker
Administration Department
Fax (International):+1 646 403 3549 (North & South America)
Toll Free Fax:+1 888 489 2409 (International)
Obviously, anyone with the right frame of his mind can figure out what they are trying to do.
