Billionforex.com a Scam ?

Bluemarlin5

Recruit
Messages
16
Sep 14, 2020 - 1 Star On July 8th 2020 I was contacted by a guy name Stefan who said he is a member of Ananda (?) can offer me to gain money in Forex with the support of the professional team at Billionforex.com (he will be my account manager, he said in a later conversation)
I gave them a shot and with the help of Stefan opened an account number 4248670 at Billionforex.com and transfered 500 € to a bank in Lithuania :
PAYSERA LT UAB in Vilnius, IBAN : LT913500010007615029

Later I went to their website and saw at the end of the page they are registered in Estonia with an address in Tallinn.

Stefan started to call me regularly (+4915770969992, a german number) to make suggestions on trades in different currencies which were all good and the account grew little by little. We also comunicated via Whatsapp.
Only one bigger trade shorting Euro in a rising price of the Euro started really bad with a drawdown, which resulted in a small win after I made additonal shorts following the original idea with practically all gains coming from my own trades shorting the Euro.
For some time Stefan did not call and I did some trades myself. Also with little gains. As the account grew to about 1.000 € I made a trade in Gold which went bad fast. It was on a margin call. Next day in the morning I saw that my trade was still alive. My guess was because a credit of 1.000 € was added to my account. I thought, this company is really caring about their customers by trying to save my account from a total loss ! This I liked !
Then I started to do more trades in Gold because the gains were good, and in a period of about 2 weeks I made the account grow over 3.000 € with gold trades.
Stefan was absent in Whatsapp and was not calling me.
Then on Sept. 7 he did call and suggested a new trade. This time shorting DAX on a day DAX was shooting up.
Immedeately this went bad for DAX continued the rise until the end of the day. Sometimes it was a drawdown of over 300 €. Next morning DAX grew even more at the begining of trading and the loss was a bit over 400 €. This I did not like at all and I wrote to Stefan via Whatsapp, that this trade is a disaster. He answered late in the afternoon after DAX fell and I was able to close that position in zero.
This was the second time that a big trade went bad and I was not interested to continue until a third would acure !
I demanded a withdrawal of all my funds, which are 3.428 € now.

Nothing happened !
No confirmation Email from Billonforex.com !

Next day I repeated my withdrawal request. Again no reaction from them.
I went to my account at Billionforex.com and saw that in the 'UPLOAD Documents' page 2 lines were standing in red :
ID proof, and
proof of residence
needet to be uploaded.
This I did for not be surprised by Billion denying my withdrawal by using the absense of these proofs as the reason not to pay !
This practice is always used by fraudsters and is known to members writing here at Forexpeacearmy.

After my upload the red sign did not change !
Still these 2 lines were standing red like no upload happened !
Also no email from Billionforex !

But Stefan wrote a Whatsapp message on Sept. 8th :
„did you try a withdrawal“
My answer :
„ I did not try, Stefan, I want a withdrawal !.... I can trade against the trend myself ! It was pure luck DAX did not go much higher !“ [as DAX did just the next day, Sept 9]
His answer : „let the trades I am giving run further“
I wrote : „not with this broker ! It is extremely expensive !“

Then on Sept. 10 I wrote to Stefan about my tries uploading documents for my ID proof and the proof of address, and that there is no sign on the page of Billionforex that my uploads were received !
Interesting is that no PDF documents are allowed ! Only images !

Stefan then called me late afternoon and we had an argument.
He said that there is a block on my account because of the 1.000 € credit given by the bank (which name I don't know and he did not give me) and to un-block my account this credit need to be re-paid !
The only way to re-pay the credit is to TRANSFER the 1.000 € of NEW MONEY from my bank to Billionforex !
I told him this is absolutely OUT of QUESTION ! I will NEVER send additional money to Billionforex after this !
At the end of the argument he said he will talk to their bank and will give me a feedback.

Immedeately after that conversation I wrote an Email to Christos Varnavas (the name in the estonian registration) for the registered Email address in Estonia : 1017@000.ee
with a CC to support@billionforex.com

„I am writing to Christos Varnavas, a member of management.
I am a customer of Billionforex !
I was trading on your platform with the assistance of Stefan from Ananda via Whatsapp, who is my manager at Billionforex !
For an unknown reason to me my Withdrawal request was ignored and Billionforex is just not comunicating.
Also Stefan from Ananda was not responding to me. But he did now and said my account is blocked by your partner bank because of te credit which was given to me by Billionforex (or the bank) !
This is absolutely not my responsibility to handle the affairs of Billionforex and your partner bank !
I am only asking to resolve this issue to withdraw the funds !“

They answered (with no name attached, maybe Varnavas is just a straw man ?) :

„Dear client to withdraw the profit it is required to complete the trading terms of the credit given is not a problem it's a rule which match perfectly our regulation! Your account manager will contact you for more details

Support Team“

My answer :

„Why don't you explain what you mean by "our regulation" ?
What the rule of you is supposed to say ?
Did I sign up on any of your rules ?
If you think I did, show me how I did !“

Answer Billionforex Sept. 14 :

„Dear Client !

When you registered under our website you agreed to our terms & conditions which explains our credit rules and withdrawal conditions there is a certain volume to complete to be able to withdraw the profit from any broker! Please be patient and wait for your account manager to call and explain everything.“

Support Team

Si my account manager Stefan did call me today, Sept. 14 and said I have to send additional 1.000 Euro to Billionforex to close the credit !
Again I said NO WAY !


It was not that bad my trading went on, but now it seems to me Billionforex is acting like a Forex fraudster when it comes to my withdrawal request !

After this experience I made a research on Billionforex.com
In Estonia the registered name is Christos Varnavas, 25.10.1984
The parent company is owned by Osanik, which sounds like a name. Number 25722 (Register number?) at Saint Vincent and the Grenades in the Carebean, named Billion Traders Ltd. The year is given at 2020. Billion account 1.png
 

FxMaster

Lt. Colonel
Messages
9,430
Sep 14, 2020 - 1 Star On July 8th 2020 I was contacted by a guy name Stefan who said he is a member of Ananda (?) can offer me to gain money in Forex with the support of the professional team at Billionforex.com (he will be my account manager, he said in a later conversation)
I gave them a shot and with the help of Stefan opened an account number 4248670 at Billionforex.com and transfered 500 € to a bank in Lithuania :
PAYSERA LT UAB in Vilnius, IBAN : LT913500010007615029

Later I went to their website and saw at the end of the page they are registered in Estonia with an address in Tallinn.

Stefan started to call me regularly (+4915770969992, a german number) to make suggestions on trades in different currencies which were all good and the account grew little by little. We also comunicated via Whatsapp.
Only one bigger trade shorting Euro in a rising price of the Euro started really bad with a drawdown, which resulted in a small win after I made additonal shorts following the original idea with practically all gains coming from my own trades shorting the Euro.
For some time Stefan did not call and I did some trades myself. Also with little gains. As the account grew to about 1.000 € I made a trade in Gold which went bad fast. It was on a margin call. Next day in the morning I saw that my trade was still alive. My guess was because a credit of 1.000 € was added to my account. I thought, this company is really caring about their customers by trying to save my account from a total loss ! This I liked !
Then I started to do more trades in Gold because the gains were good, and in a period of about 2 weeks I made the account grow over 3.000 € with gold trades.
Stefan was absent in Whatsapp and was not calling me.
Then on Sept. 7 he did call and suggested a new trade. This time shorting DAX on a day DAX was shooting up.
Immedeately this went bad for DAX continued the rise until the end of the day. Sometimes it was a drawdown of over 300 €. Next morning DAX grew even more at the begining of trading and the loss was a bit over 400 €. This I did not like at all and I wrote to Stefan via Whatsapp, that this trade is a disaster. He answered late in the afternoon after DAX fell and I was able to close that position in zero.
This was the second time that a big trade went bad and I was not interested to continue until a third would acure !
I demanded a withdrawal of all my funds, which are 3.428 € now.

Nothing happened !
No confirmation Email from Billonforex.com !

Next day I repeated my withdrawal request. Again no reaction from them.
I went to my account at Billionforex.com and saw that in the 'UPLOAD Documents' page 2 lines were standing in red :
ID proof, and
proof of residence
needet to be uploaded.
This I did for not be surprised by Billion denying my withdrawal by using the absense of these proofs as the reason not to pay !
This practice is always used by fraudsters and is known to members writing here at Forexpeacearmy.

After my upload the red sign did not change !
Still these 2 lines were standing red like no upload happened !
Also no email from Billionforex !

But Stefan wrote a Whatsapp message on Sept. 8th :
„did you try a withdrawal“
My answer :
„ I did not try, Stefan, I want a withdrawal !.... I can trade against the trend myself ! It was pure luck DAX did not go much higher !“ [as DAX did just the next day, Sept 9]
His answer : „let the trades I am giving run further“
I wrote : „not with this broker ! It is extremely expensive !“

Then on Sept. 10 I wrote to Stefan about my tries uploading documents for my ID proof and the proof of address, and that there is no sign on the page of Billionforex that my uploads were received !
Interesting is that no PDF documents are allowed ! Only images !

Stefan then called me late afternoon and we had an argument.
He said that there is a block on my account because of the 1.000 € credit given by the bank (which name I don't know and he did not give me) and to un-block my account this credit need to be re-paid !
The only way to re-pay the credit is to TRANSFER the 1.000 € of NEW MONEY from my bank to Billionforex !
I told him this is absolutely OUT of QUESTION ! I will NEVER send additional money to Billionforex after this !
At the end of the argument he said he will talk to their bank and will give me a feedback.

Immedeately after that conversation I wrote an Email to Christos Varnavas (the name in the estonian registration) for the registered Email address in Estonia : 1017@000.ee
with a CC to support@billionforex.com

„I am writing to Christos Varnavas, a member of management.
I am a customer of Billionforex !
I was trading on your platform with the assistance of Stefan from Ananda via Whatsapp, who is my manager at Billionforex !
For an unknown reason to me my Withdrawal request was ignored and Billionforex is just not comunicating.
Also Stefan from Ananda was not responding to me. But he did now and said my account is blocked by your partner bank because of te credit which was given to me by Billionforex (or the bank) !
This is absolutely not my responsibility to handle the affairs of Billionforex and your partner bank !
I am only asking to resolve this issue to withdraw the funds !“

They answered (with no name attached, maybe Varnavas is just a straw man ?) :

„Dear client to withdraw the profit it is required to complete the trading terms of the credit given is not a problem it's a rule which match perfectly our regulation! Your account manager will contact you for more details

Support Team“

My answer :

„Why don't you explain what you mean by "our regulation" ?
What the rule of you is supposed to say ?
Did I sign up on any of your rules ?
If you think I did, show me how I did !“

Answer Billionforex Sept. 14 :

„Dear Client !

When you registered under our website you agreed to our terms & conditions which explains our credit rules and withdrawal conditions there is a certain volume to complete to be able to withdraw the profit from any broker! Please be patient and wait for your account manager to call and explain everything.“

Support Team

Si my account manager Stefan did call me today, Sept. 14 and said I have to send additional 1.000 Euro to Billionforex to close the credit !
Again I said NO WAY !


It was not that bad my trading went on, but now it seems to me Billionforex is acting like a Forex fraudster when it comes to my withdrawal request !

After this experience I made a research on Billionforex.com
In Estonia the registered name is Christos Varnavas, 25.10.1984
The parent company is owned by Osanik, which sounds like a name. Number 25722 (Register number?) at Saint Vincent and the Grenades in the Carebean, named Billion Traders Ltd. The year is given at 2020. View attachment 58113
I saw you already left review here https://www.forexpeacearmy.com/forex-reviews/18098/billionforex-forex-brokers

Now, follow this..........


Invite a company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.

OP Screen shot.jpg
 

marco_mmbiz

Sergeant
Messages
167
Maybe I don't get it, but:
1. You blew your account.
2. You got a credit from the broker (or his lp).
3. You made profit only with that credit.
4. You want to withdraw that profit (which wasn't on your deposit but on the deposit of the broker (or his lp)).

Now, go to a bank of your choice and try to do the same. lol
You always need to pay for the credit first, because it's actually not your money on that account. Maybe they can reduce the profit and take the credit from there, but actually I think the lp won't allow the broker to do that (because it's still their money, not yours).
 

Bluemarlin5

Recruit
Messages
16
Maybe I don't get it, but:
1. You blew your account.
2. You got a credit from the broker (or his lp).
3. You made profit only with that credit.
4. You want to withdraw that profit (which wasn't on your deposit but on the deposit of the broker (or his lp)).

Now, go to a bank of your choice and try to do the same. lol
You always need to pay for the credit first, because it's actually not your money on that account. Maybe they can reduce the profit and take the credit from there, but actually I think the lp won't allow the broker to do that (because it's still their money, not yours).

You did not really read what I wrote !
Of course I was not trying to withdraw the credit !
I want to withdraw only my 500 € PLUS the gains made by me !
In TOTAL the amount is 3.428 €

The additional 1.000 € credit from the broker would be untouched !

As of now the total amount in the account is 3.428 € + 1.000 € = 4.428 €
 

Bluemarlin5

Recruit
Messages
16
I saw you already left review here https://www.forexpeacearmy.com/forex-reviews/18098/billionforex-forex-brokers

Now, follow this..........


Invite a company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.

OP Screen shot.jpg

Thank you, FxMaster !

I already did invite Billionforex by using the invite option !
 
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