4XP - Cannot get my money back

[rubywanda]

[langtitle=af]4XP - Cannot get my money back[/langtitle]

I gave notice to withdraw my fund from my 4XP account on 22 January 2013. I was told it would take 7 -10 days which is rediculous but still no money and no one can tell me where my money is yet it left my trading account early last week already. Can anyone help me.

 

[BigT1]

Hello new member rubywanda,
.
This firm has long been indentified as a a scam operator.
Below is the text of a Letter from the FFMSRC - the Russian Financial Regulatory Authority.
This is the regulator the firm posts on its home page as having issued them a license.
This notice indicates that anyone using a reference to the FMRRC as a licenser for foreign exchange activities, is doing so illegally.
I have today submitted an inquiry to the regulator to alert them and ask for a reply on whether or not they are licensed, they are operating legally, and if they are indeed subject to their regulation.
I will keep you posted.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
.
Information letter "About the absence of a legal basis for the use of licences issued by FFMs of Russia, in support of activities in the foreign exchange market"

July 16, 2009
.
Securities Market Participants
.
The absence of a legal basis for the use of licences issued by FFMs of Russia,
in support of activities in the foreign exchange market.
.
In connection with the identification of a number of cases, the posting of information on the available licenses for stock brokers and stock brokers who trade futures and options trading transactions issued by the Federal service for financial markets, as an authorization for the provision of services in the foreign exchange market Forex (Forex), the FFMS of Russia brings to the attention of market participants.
.
Relationships related to the Forex market, including activities to raise funds for the implementation of operations in the foreign exchange market (Forex) is not governed by the regulations of the FEDERAL FINANCIAL MARKETS SERVICE of Russia, licenses issued by FFMs of Russia did not provide the right to carry out these activities.
.
In connection with the FFMs of Russia drew the attention of legal and natural persons licensed to operate Exchange's brokers and stockbrokers that, in case of detection of misuse of references for relevant licences issued by FFMs of Russia, to support the implementation of such activities in the currency market, including activities to raise funds for the implementation of operations in the foreign exchange market (Forex), The Ffms will consider these facts as misleading and unfair competition.
.
Known facts will be sent to the Federal Antimonopoly Service of Russia in order to verify compliance with the legislation of the Russian Federation on the protection of competition and the laws of the Russian Federation on advertising.
.
Territorial organs of FFMs of Russia given guidance on identifying those facts.
.

 

[rubywanda]

Master sersant, bie baie dankie. Ek het my geld van 4xp terug gekry. Ek het dit oorreed om weer geld in my 4XP trade rekening te sit. So wat jy vir my se is dat ek dit nie moet doen nie want hulle is 'n oneerlike borker? Asseblief ek moet dringend weet want hulle will he ek moet 10 000 dollars gee en dan sal hulle vir my 10 000 dollars gee. Dit is baie geld en ek kan nie bekostig om dit te verloor nie! As jy vir my se bly weg dan sal ek??

 

[Pharaoh]

What do you mean by they will "give you $10,000"? Is that a trading bonus? If so, such bonuses always come with many strings attached. Some can never be withdrawn. Others can only be withdrawn after trading so many lots that the spread collected by the broker will be many times the amount of the bonus. In the meantime, you may not even be able to withdraw that $10,000 you've been asked to deposit.

If you have successfully gotten your money out, take a big step back and think carefully before putting any back in. Also, you should NEVER trade with money that you cannot afford to lose.