vgasper
Sergeant
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- 137
Been scammed by a Cyprus Broker? New instructions from CySEC
- Thread starter AsstModerator
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- cysec
vgasper
Sergeant
- Messages
- 137
Try to attach more details , if possible screenshot with account number details. All online brokers are money makers. At that time UFX wasn't ready to counter your trade and deleted your profit. If you would loss in such trade they wouldn't delete it for sure. I am curious ..how much you deposited in your account? $7571 profits in a single trade Imao. These brokers obtained cheating public licence from moron authorities. Try to trade directly with Bank . Be it in your country or overseas or CFTC approved USA brokers.
Here is my printscreen:
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ufx_17_7_2015.jpg
Pharaoh
Colonel
- Messages
- 19,922
Sounds like Cyprus is a little short on cash. Probably because of all the bad brokers trying to get their money out now that Cysec is showing signs of taking actions against some of the worst of them,
This is worth reading……
http://www.financemagnates.com/fore...x-companies-risk-full-refund-of-client-money/
Now we sure know the major Israeli’s PSP firms, supporting the entire scam industry, but i
do wonder about the one acquiring bank, as mentioned…..any idea ?
http://www.financemagnates.com/fore...x-companies-risk-full-refund-of-client-money/
Now we sure know the major Israeli’s PSP firms, supporting the entire scam industry, but i
do wonder about the one acquiring bank, as mentioned…..any idea ?
https://www.youtube.com/watch?v=tELudt4Ars4
I guess senior members had come across this video SAREL TAL CEO Allcharge/Algocharge
This sure involves Cyprus regulator and so on…..
All he is talking about is shoppers FRAUD, not a single word about MERCHANT FRAUD !
In fact any crook regulated or not is welcome, even tough PSR’s require merchant
screening and sufficient rules to protect shoppers/consumers……
If anybody managed chargeback with Allcharge, let us see the prove.
I guess senior members had come across this video SAREL TAL CEO Allcharge/Algocharge
This sure involves Cyprus regulator and so on…..
All he is talking about is shoppers FRAUD, not a single word about MERCHANT FRAUD !
In fact any crook regulated or not is welcome, even tough PSR’s require merchant
screening and sufficient rules to protect shoppers/consumers……
If anybody managed chargeback with Allcharge, let us see the prove.
vgasper
Sergeant
- Messages
- 137
" Dear Mr. _____,
REFERENCE NUMBER:______
Thank you very much for contacting the Cyprus Securities and Exchange Commission (the “CySEC”). Your complaint has been successfully submitted.
Please kindly note that the CySEC does not have restitution powers and therefore does not investigate individual complaints. However your complaint will be taken into consideration by the CySEC in the performance of its supervisory mandate and hence has been assigned to an assessor who will draw up a proposal of how best to incorporate the subject matter of your complaint in the CySEC’s supervisory action plan.
As a first step in the process, we kindly draw your attention to the following:
Best regards,
Complaints Team
Cyprus Securities and Exchange Commission
27, Diagorou Street, 1097 Nicosia, Cyprus/ P.O.Box 24996, 1306 Nicosia, Cyprus
Tel. (+357) 22506600 Fax (+357) 22506700
Web: www.cysec.gov.cy "
REFERENCE NUMBER:______
Thank you very much for contacting the Cyprus Securities and Exchange Commission (the “CySEC”). Your complaint has been successfully submitted.
Please kindly note that the CySEC does not have restitution powers and therefore does not investigate individual complaints. However your complaint will be taken into consideration by the CySEC in the performance of its supervisory mandate and hence has been assigned to an assessor who will draw up a proposal of how best to incorporate the subject matter of your complaint in the CySEC’s supervisory action plan.
As a first step in the process, we kindly draw your attention to the following:
- In case that the provision of further information/documentation/evidence is deemed necessary, you will be contacted by the assessor dealing with your complaint.
- Depending on the findings of the supervision the case will be brought to the Council of the Cyprus Securities and Exchange Commission (“CySEC”) for taking any measures deemed necessary if the Cyprus Investment Firm (the “CIF”) has been found to have violated the laws the enforcement of which has been entrusted to the CySEC.
- The policy of the CySEC is to announce any sanctions imposed on its supervised entities. Apart from this announcement, as a matter of policy, no other feedback/information is provided / announced regarding on-going investigations/supervision.
- The CySEC, although it has powers to take measures (which include monetary sanctions), it has no powers to order the payment of compensation/restitution of damages suffered.
- If compensation is sought, you are advised to submit your complaint to the Financial Ombudsman at complaints@financialombudsman.gov.cy. The Financial Ombudsman is an independent service for settling disputes between financial firms and their clients. For more information please go to: http://www.financialombudsman.gov.cy.
- In case that you wish to bring to the attention of the CySEC further developments with respect to your complaint in the future, you are kindly requested to contact us at complaints@cysec.gov.cy quoting the reference number shown above. Please do not submit a new complaint form.
Best regards,
Complaints Team
Cyprus Securities and Exchange Commission
27, Diagorou Street, 1097 Nicosia, Cyprus/ P.O.Box 24996, 1306 Nicosia, Cyprus
Tel. (+357) 22506600 Fax (+357) 22506700
Web: www.cysec.gov.cy "
vgasper
Sergeant
- Messages
- 137
The Cyprus offices need more time for my case complaint application reference number is 13.29.004.636, as you can see in my recieved email...
"Dear Mr. ______,
We would like to inform you that due to the high volume of work, we have extended the examination procedure of your case, by a further period of three months, making use of our statutory right for the extension of the six months period by another three months, under article 11 of The Financial Ombudsman Law 2010 (N84.1/2010). Your complaint has been forwarded for further financial and legal examination. Furthermore you are informed that, we have notified the Financial Business against which your complaint addressed.
Unfortunately we have no more details to give you at this point. Once we have a decision we will notify you immediately.
Kind regards,
Financial Ombudsman Office"
"Dear Mr. ______,
We would like to inform you that due to the high volume of work, we have extended the examination procedure of your case, by a further period of three months, making use of our statutory right for the extension of the six months period by another three months, under article 11 of The Financial Ombudsman Law 2010 (N84.1/2010). Your complaint has been forwarded for further financial and legal examination. Furthermore you are informed that, we have notified the Financial Business against which your complaint addressed.
Unfortunately we have no more details to give you at this point. Once we have a decision we will notify you immediately.
Kind regards,
Financial Ombudsman Office"
simmo196326
Recruit
- Messages
- 5
Hi, had major issues with a Binary options company who was regulated by Cysec. I contacted them several times, and was told that I would have to send them 30 Euro with the complaint. As they really can't do much in way of restitution, I also contacted Interpol and the Financial Ombudsman in Cyprus. None were of any help. The company was sanctioned by Cysec earlier this year along with a few others, and now it appears they can only provide what they call "One touch trading" now. You decide whether the price will hit the price. Only can trade on Apple, Google or Facebook. I was scammed out of $30k by a senior trader working for this company who deposited money into my account without asking. He told me that it wasn't a bonus and wasn't subject to any conditions .
When I tried to make a withdrawal I was informed by their accounting department that I had not met the Trading requirements to make a withdrawal. I had to have a turnover of $1.2 million. I did manage around 200k lol. I had deposited 13k and he put in 16k. So more than 100% which is the usual max bonus. He emailed me and told me that he had opened a joint account in his and my name and another Trader had put in 2000 Euro of his own money. He told me that he would trade with this account and he would send me the profits. over a couple of months he told he had made around 50k and would send it to me if I sent him more money. I contacted support online, via email and phone, multiple times over several months regarding my concerns, even sending them copies of emails and Skype conversations between this Trader and myself. After five months they found out that he was carrying out a scam, and not just with me, but with many other customers. The only assistance that I received from the company was from other Traders, who wanted me to invest a minimum of 5-10k and help me trade out of my predicament. One Trader offered to manage my account for me , if I deposited $20k at least. They did see my issue with that company and my lack of trust in them lol.
Needless to say I did not receive any money!! I now trade futures and have basically taught myself to trade and am finally consistently profitable. I am looking at quitting my job in the near future. So in closing I would say stay away from any companies regulated by Cysec. These companies hid away in Cyprus and a few other countries where they don't have to pay tax on gambling.
When I tried to make a withdrawal I was informed by their accounting department that I had not met the Trading requirements to make a withdrawal. I had to have a turnover of $1.2 million. I did manage around 200k lol. I had deposited 13k and he put in 16k. So more than 100% which is the usual max bonus. He emailed me and told me that he had opened a joint account in his and my name and another Trader had put in 2000 Euro of his own money. He told me that he would trade with this account and he would send me the profits. over a couple of months he told he had made around 50k and would send it to me if I sent him more money. I contacted support online, via email and phone, multiple times over several months regarding my concerns, even sending them copies of emails and Skype conversations between this Trader and myself. After five months they found out that he was carrying out a scam, and not just with me, but with many other customers. The only assistance that I received from the company was from other Traders, who wanted me to invest a minimum of 5-10k and help me trade out of my predicament. One Trader offered to manage my account for me , if I deposited $20k at least. They did see my issue with that company and my lack of trust in them lol.
Needless to say I did not receive any money!! I now trade futures and have basically taught myself to trade and am finally consistently profitable. I am looking at quitting my job in the near future. So in closing I would say stay away from any companies regulated by Cysec. These companies hid away in Cyprus and a few other countries where they don't have to pay tax on gambling.
simmo196326
Recruit
- Messages
- 5
I have given up on ever seeing any of my money again.