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4xp.com takes your money little by little

Discussion in 'Scam Alerts' started by popov_acnl@hotmail.com, Dec 13, 2009.

  1. popov_acnl@hotmail.com

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    I wanted to tell you how some brokers cheat you in little amounts, but in my opinion they should not get away with that. Firstly, they are cheating mostly people who probably do not have a lot of money to begin with so this small amounts could mean no Christmas gift for a child this year. Secondly, because most of us would not pursue such small loss they can do it over and over again.
    I am talking about ForexPlace or 4xp.com. I have opened an account there a few months ago. Deposited $150 via Moneybookers.
    I tried to trade, but:
    They have terrible slow execution with constant requotes, they filter and manipulate data, but worse of all was withdrawal.
    After a while when my account grew to $160( as a principle I always try to cover the costs if an account is bad and I am leaving) and I hurried to close it and requested a withdrawal.
    I got the bulk of the money eventually, but they have charged me 28% to transfer money back to Moneybookers.
    How do you like that? 28% for transfer. Moneybookers would charge less than 2% for the transaction.
    They never warn you about such a charge, when you are opening the account they mention the contract that they will only take a fee to cover the transactional expenses.
    It is impossible to claim or demand anything: after a month of trying to get my money back I have got an email form "Dealing Desk". It was incomprehensible illiterate attempt to use lawyer talk.
    Do yourself a favor and stay away from this bucket shop.
    P.S. They seem to employ mostly Davids there. Most of them are Davids from Germany, Davids from Australia, GB. But in fact those Davids told me that there are no real offices around the world only "virtual" ones.
     
  2. Pharaoh

    Pharaoh Colonel

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    Demand they show you this 28% fee in their trading agreement. If they can't, post about it here and also find the proper place in your country to file an internet fraud complaint.
     
  3. popov_acnl@hotmail.com

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    Thank you!
    I have done it -- demanded to show in their agreement the amount of their withdrawal fees. The illiterate "dealingdesk" quoted the only related portion:
    "In resemblance, client will have no claim against the company and will not hold the company responsible to any delay and/or differences and/or any commission etc. origin from banking system."
    He tried to tell me that the term "origin from banking system" has nothing to do with the Moneybookers actual fees and simply means that they can charge for withdrawal whatever they want. I guess I should feel lucky that they did not charge me the whole amount.

    The terms are posted on their website and if changed recently I made a pdf just in case. And I keep all the correspondence and chats saved.

    I am not sure that any law enforcement in Canada would be interested in $35 dollar fraud, so I guess you guys are the only hope.

    I will survive, but I feel outraged:
    It is a nice safe way to steal money and I am sure it had been designed this way. They misrepresented their size and presence all around the world. They supply you with demo that works fine, they made it very easy to open account and to deposit. As soon as you do -- you find out that in live the trading differs from what you had in demo to the extent that you wait for a several minutes to close an open position, and if you are still in plus you get a requote! But if you got into negative during this time, - you guys guessed it!
    Now some naive people will keep trading until 0 left on their account, some like me will run, but will be "shaved" on their way out. Everyone, one way or another will give some money to 4xp.com. They will not steal too much, but will do it for a long time!
    That must be stopped.
    Thanks again
     
  4. ernest8fingers

    ernest8fingers Master Sergeant

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    visit their office( i mean their parent's basement-lol) and beat their faces in $35. dollars worth! Or - email them 23,000 times a day to remind them what as_hol_s they really are.Of course-sadly- your screwed(though not hosed). Have some fun totally at their expense?
     
  5. popov_acnl@hotmail.com

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    Their office is in Turkey, that's where all their illiterate Davids coming from.
    I wish I could meet one of them, but they are too far...
     
  6. 4xp Rep.

    4xp Rep. 4xp.com Representative

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    Hello,
    I would like to introduce myself. My name is Jayden Hamilton and I am the official representative for 4xp in this forum. I will be the point of contact for any complaints, comments or suggestions regarding 4xp (Forex Place).
    I would like to resolve the issue regarding the 28% fee that was charged for withdraw to moneybookers. If possible I would be happy to receive your details so that I can investigate further as we do not charge any commissions, brokerage or dealing desk execution fees. You can send me your details if you feel more comfortable to customersupport@4xp.com and I will be very glad to assist you.
    Awaiting your reply,
    Jayden Hamilton
     
  7. popov_acnl@hotmail.com

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    Correction

    Recently Jayden contacted me via email. He requested from me some records, and after brief investigation refunded my money (the fees that had been erroneously charged) back to 4xp account.
    I will not risk adding more money there yet, so in all likeliness I will have to withdraw the refund for now. But if the withdrawal goes smoothly, I will return to 4xp for news trading.
    I will update this after new developments, but so far it looks much much better.
    Thank you Jayden!!!
     
  8. popov_acnl@hotmail.com

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    It is all resolved, thanks

    That is my last post concerning 4xp. They have returned my money and did not charge any commissions for withdrawal.
    That shows an effort to fix problems and I hope that the positive changes will be adopted by other brokers out there.
    Thanks again Jayden!
     
: 4xp.com, 4xp, 4 xp

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