Problem 4XP changes contract rules without telling to clients

[Master Yoda]

I know these guys, some people consulted me about them in the past and I can share with you the following:
1. They are an Israeli company located in Tel Aviv
2. The Israeli court has shut this company in the past for trading against clients and made him loss millions of Dollars (Assets of Forex Broker Seized After Trading Against A Client - Later Released When Charges Were Cleared | Forex Crunch) I think the forum management should mention this in the company review and rating page
3. The internet is full of complaints about trading against this company (and I said people have already consulted me regarding this company in the past)

 

[Pharaoh]

You need to show both sides of that equation. The charges weren't just dropped, but were dismissed for very good reasons. Turns out there was some bad business on the other side of the table:
ForexPlace Cleared of Charges in Preliminary Court Hearing | Forex Crunch

So, getting back to the complaint at hand, use ALL means to contact 4XP and let them know that your account manager has gone missing. Ask them if this is the way they treat clients.

 

[Sashaphotoit]

Ok, I'll follow your instructions. Again thanks.[/lang]

 

[Master Yoda]

You need to show both sides of that equation. The charges weren't just dropped, but were dismissed for very good reasons. Turns out there was some bad business on the other side of the table:
ForexPlace Cleared of Charges in Preliminary Court Hearing | Forex Crunch

So, getting back to the complaint at hand, use ALL means to contact 4XP and let them know that your account manager has gone missing. Ask them if this is the way they treat clients.

By the way, this Majid Sheikh who is mentioned in this article is the owner of the closed site OTC Banking... It wasn't hard to figure that out

 

[Pharaoh]

Sounds like we need a separate thread for "the twisted web of broker relations".

 

[Sashaphotoit]

[langtitle=it]Adviced broker I opened case here[/langtitle]

Hi, I'm back in my country and straight called 4xP telling them I opened a case here. My Account Manager and any other italian staff wasn't there at the moment but the person who answered me told me to write down my problem in e-mail and that she would have sent it straight to some higher office than the one who cares about withdrawals. So I'm just writing now the e-mail to them and then I'll let you know in some days if something happened. Anyway it's the first time someone is considering to contact some higher office to solve my problem, maybe because I told I opened a case here. I'll let you know. Bye for now.[/lang]

 

[Sashaphotoit]

Hi, I just sent the following e-mail to the contact (maya.taylor@4xp.com) that was told me in last telephone call few hours earlier.
Hi, I'm G. G. and my account Manager is Jessica Lippi. As you can see from attached file I signed a contract telling that: "Should a withdrawal request be made, all lots must be completed in order to benefit from a bonus. Should a withdrawal take place without completing all lots and uncompleted lots remain on the account, withdrawal will be executed, but the bonus will be forfeited".
I asked already 2 times to withdraw from my account 3019700 and both times my Account Manager told me the office working on withdrawals of clients told her that old contract is no more valid due to the new contract I signed and that I need to complete the lots if I want to withdraw without losing profits. In fact I have the account 3021565 where the contract tells that in case of withdrawal request made without completing all lots and uncompleted lots remain on the account, withdrawal will be executed but both bonus and profits will be forfaited. The thing is that any broker can change contract rules of old contracts but clients need to be notified and have 60 days time to decide if accept or not the new terms and conditions. Nobody never told me about these changes and when there was the new contract I even asked to my Account Manager what would have happened to my old account (where I had positions opened at that time) and she told that until new deposit isn't made my old contract is valid and that positions could have beeing kept open. For the proof you can see telephone recorded call which happened when I opened the account 3021565 (02-08-2012). Maybe the call happened few days earlier. Anyway my contract didn't change its rules because my Account Manager always told me there are several bonus offers and each contract has its own rules so what happened is simply that 4xP decided to abort the 100% bonus contract where you could withdraw profits without completing all lots required and without losing the bonus. In practice any contract has its own rules.
So at the end what I ask is to be able to withdraw from my account 3019700 even if I know I'll lose the bonus. The amount I request to withdraw is 59.429$ (Equity) - 6.577$ (bonus) = 52.852$. I hope to find a solution soon at this problem which already costed me to lose a possible client which opened already account elsewhere when he listened about my problem (I have affiliate account with you aswell). Thanks.

 

[Sashaphotoit]

Hi I wrote at least 1 post more since the previous of the 05-29-2013 (08.55 PM) but can't see it more. I was telling that I called yesterday 04 June 2013 my broker 4xP and wanted to know about my problem but the italian person who answered me told my Account Manager wasn't available and I had to write again the e-mail to maya.taylor@4xp.com to have knews. It was told me aswell to send the same e-mail to my account Manager Jessica Lippi.[/lang]

 

[Sashaphotoit]

I wanted to say that I just sent again (second time) the e-mail with my problem described to maya.taylor@4xp.com and a copy of it even to my Account Manager (jessicali@4xp.com). I'll be waiting for an answer and I'll let you know.[/lang]

 

[Pharaoh]

If 4XP doesn't bother answer soon, I think this issue may have to be escalated.