Algorates.com doesn't respond, lost all my money
- Thread starter alshaibani
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alexx71
Recruit
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- 185
Good Job... let's see now !
AsstModerator
FPA Forums and Reviews Admin
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Please open your own thread about your issue with Algorates. This will make it easier to track how many problems there are and how many get solved.
I encountered the same problem, they churned my account overnight with huge trading size and wiped out overnight, unscrupulous crooks
alshaibani
Private
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They haven't responded yet, what do I do now?
I have opened a case in the court but it didn't show, please help to move this forward, it seems many people have encountered issues with this website and we need to take action before more people become victims.
I have opened a case in the court but it didn't show, please help to move this forward, it seems many people have encountered issues with this website and we need to take action before more people become victims.
alshaibani
Private
- Messages
- 13
I have received the following email today from Algorates:
Dear Client,
Thank you for your email inquiry in regard to your account.
We apologize for the delay in our response.
We understand your frustration with the recent market crash and its direct effect on your account.
AlgoRates have been working diligently and with no rest in order to resolve and provide clarity to all our investors.
Having said this, it is important for us to make it absolutely clear that this is no ordinary market crash and could not have been foreseen by any market expert or algorithm.
As you are well aware and have seen on every news agency in the world about how mega Forex firms have completely gone bankrupt. Just to name a few leading firms, Alpari UK, Excel Markets, Oanda, FXCM, have all been either completely or
for the most part wiped out. "FXCM, the U.S.’s largest online brokerage for retail foreign currency trading, said many of its clients had been wiped out in the markets on Thursday as well. The firm said it was owed KWD 66.22 ($225) million by clients who had lost everything in this week’s volatile currency markets."(Fortune.com)
In regard to what will transpire with our private investors.
AlgoRates is taking all necessary measures to activate our private investor insurance in order to minimize any damages that may have been incurred during these dire market times.
This is a thorough and lengthy procedure, in which the insurance providers will investigate scrupulously every single account on an individual basis.
Naturally, because we have over 100,000 private investor accounts this will take a considerable amount of time in order to come to a final resolve with each individual account.
We are cooperating with the insurance company to try and get through this as fast as possible, but please understand that this process could take between 6-12 months depending on a number of factors and the complexity of the claim.
We apologize for the inconvenience and thank you in advance for your patience and understanding of the situation.
Please send all inquiries to claims@algorates.com .
Kind Regards,
Patrick Clayton
Claims Division Manager
Tel: +44 130 223 8888
Dear Client,
Thank you for your email inquiry in regard to your account.
We apologize for the delay in our response.
We understand your frustration with the recent market crash and its direct effect on your account.
AlgoRates have been working diligently and with no rest in order to resolve and provide clarity to all our investors.
Having said this, it is important for us to make it absolutely clear that this is no ordinary market crash and could not have been foreseen by any market expert or algorithm.
As you are well aware and have seen on every news agency in the world about how mega Forex firms have completely gone bankrupt. Just to name a few leading firms, Alpari UK, Excel Markets, Oanda, FXCM, have all been either completely or
for the most part wiped out. "FXCM, the U.S.’s largest online brokerage for retail foreign currency trading, said many of its clients had been wiped out in the markets on Thursday as well. The firm said it was owed KWD 66.22 ($225) million by clients who had lost everything in this week’s volatile currency markets."(Fortune.com)
In regard to what will transpire with our private investors.
AlgoRates is taking all necessary measures to activate our private investor insurance in order to minimize any damages that may have been incurred during these dire market times.
This is a thorough and lengthy procedure, in which the insurance providers will investigate scrupulously every single account on an individual basis.
Naturally, because we have over 100,000 private investor accounts this will take a considerable amount of time in order to come to a final resolve with each individual account.
We are cooperating with the insurance company to try and get through this as fast as possible, but please understand that this process could take between 6-12 months depending on a number of factors and the complexity of the claim.
We apologize for the inconvenience and thank you in advance for your patience and understanding of the situation.
Please send all inquiries to claims@algorates.com .
Kind Regards,
Patrick Clayton
Claims Division Manager
Tel: +44 130 223 8888
alshaibani
Private
- Messages
- 13
Dear FPA,
What's the next action regarding this issue?
What's the next action regarding this issue?
alshaibani, I got the same bull**** email as you can see in my thread: https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/38460-algorates-dont-go-there.html
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