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Be aware of falconsfx

Discussion in 'Scam Alerts' started by pensee, Apr 1, 2011.

  1. pensee

    pensee Recruit

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    I am an Egyptian citizen who was recently a victim to an online fraud from an American Forex trade company.
    Company Information:
    Name: FalconsFx
    URL: Falcons FX - new website
    Location: 16192 Coastal Highway , Lewes, Delaware 19958 , County of Sussex.

    I started trading with thw mentioned company and let me tell you, I was doing pretty good. When I first signed the contract, I was directly told that I can withdraw the money at anytime but bonuses can't be withdrawn except after 3 months from the start date of the contract. As I started making profit earlier than the 3 months, I requested to withdraw from it putting in mind that my balance will still cover the bonus they gave me, by then their true face started to surface...


    They came up with some strange terms that wasn't mentioned in neither the contract nor verbally which they called "required lots", which they explained to me that I need to have to make a certain number of lots before withdrawing the bonus and that if I didn't reach the target required lots the bonus will be deducted from my account!


    As you can see that totally doesn't make sense, how come I am forced to make profit or lose money?! When I was faced with this fact I informed them that I don't want the bonus and that they can keep it and that I wanted to withdraw my money. Here came another shock, suddenly they claimed that I was a pip trader (take profit less than 10 pips) and scalper (close transaction less than 10 minutes)?! I didn't understand what they meant at start, Though it isn't my first time doing online business but it was my first forex trials, I was new to the market and had to google what they meant by these words, I couldn't understand how this was related to my case or why isn't it mentioned in the contract?!


    It was obvious to me by then that I am being played! My equity was by then $28,708 Though that was more than double what I originally invested but I had a strong feeling that I won't see my money again and I was a victim of a well organized online fraud, so I asked them to keep all the profit and just return my original amount of money which is $11,965 and to keep the profit to themselves hoping for this to put an end to it.

    But suddenly they took all my profit and informed me that i have to make 298 lots in three month in order to be able to withdraw my original money! of-course i didn't, they never kept a word to start with and there was no guarantee that they will keep this one!
     
  2. Andrew Jones

    Andrew Jones Recruit

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    Dear pensee

    You should not let yourself get pushed around. You say "They came up with some strange terms that wasn't mentioned in neither the contract...". Well they are not allowed by law to add new terms. I really cannot understand from what I read in your note here what you mean by "bonus" or "required lots", so my advice follows:

    Carefully read the terms and conditions of all the contracts you signed. This is the important point in this case. Get all the documents that describe the system and work out exactly what you have contracted for.

    Then, if the company still will not refund your money, the full $28,708, I would contact a few lawyers offices in the United States in the state in which the company is incorporated or in the state of the office with which you were dealing, and I would get quotes on the cost of getting their professional opinion about the terms of the contract and I would also find out if they are prepared to take the case on the no-win no fee basis. Then I would choose the best lawyer with a reasonable cost and take action.

    I think there should only be a couple of hours work by a professional lawyer in reading those contractual terms and documents so it should NOT COST MORE THAN A FEW HUNDRED BUCKS. Get a written quote from them before they do any work. Because this is a complex case about a strange system of bonuses and required lots etc. any scam attempt will be based on either just stealing your money and hoping you give up or hiding strange terms in the small print. Either way, you should be able to sort this one out and get justice.
     

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