Ecn-Markets.com SCAM - Full Evidence: Account Traded Against Client's Will

Jason Q.

Recruit
Messages
7
On Dec 8th 2015, I made a requested to withdraw USD$18,975.

Dec 9th, My current account manager Martin, put forward my withdrawal to be processed and assured me that things would be processed the following day:

upload_2016-1-18_22-31-1.png

On Dec 10th my account manager was suddenly switched to Adam Ibrahim, who called me over skype, asking me why I wanted to withdraw the funds. He then offered repeatedly to help manage my account to make profits. During our conversation, I declined his offer repeatedly and asked him to follow though on my withdrawal. I also gave him explicit instructions NOT to trade my account when he tried to convince me to allow him to trade my account:

upload_2016-1-18_23-6-9.png
(See attached pdf for full record of skype messages.)

10 minutes later, I could not log in to my MT4 account and my repeat attempts to contact Adam Ibrahim was not answered. Over the next two days (Dec 10 and 11), my account was violently traded and churned to produce losses, reducing my account from USD$20,000 to USD$1,900 over a period of two days:
upload_2016-1-18_23-48-53.png
All this happened with clear and explicit instructions that the account was NOT to be traded.(see attached account records Dec 10 and 11 activity obtained from my CRM account records).

On Dec 13th, Adam Ibrahim had the audacity to call me and said he was trying to help me make money and it was the company's mt4 robot that suffered a glitch. He even said ,"please don't complain against me cause it will affect my career..." Which of course was bull****. I demanded for compensation and for his manager or director to contact me. When that did not happen, I sent emails to the compliance department reporting this case, which also went unanswered.

I eventually reported this case to the police, and was told that it was unlikely that they could do anything as it was overseas and out of their jurisdiction.

I appeal to the FPA community for help on this case.

Thank you.
 

Attachments

  • Skype Conversation with Adam Ibrahim with instructions not to trade the account_pr.pdf
    133.9 KB · Views: 6
  • Orders - ECN Markets - churning of accounts 10 and 11 Dec 2015_pr.pdf
    611.2 KB · Views: 6
How and when did you deposit?

Send a link to this thread to every address you can find for this company. Ask them to come here and explain why a company employee traded the account when you told him not to.
 
Hi Pharaoh, thanks for queries.
I have just sent out the links to their Compliance dept, Adam Ibrahim and the previous account manager.

I deposited via wire on the Nov 19th, 2015.
upload_2016-1-19_22-49-9.png

I though I could trust them after two previous successful withdrawals from them previously (via credit card)

Btw, I tried to create a one star review of this broker but the form would not allow me to click "submit"
 
You need to deal with whichever kind of captcha is presented and also to make it at least 75 characters long. If you've done all of that and the case still won't submit, use Contact Us. The review mods may ask for a screenshot, so have one ready.
 
What country are you in?

ECN-Markets claims a UK address on their about page (you should grab a screenshot - it might change). This opens up complaining to the UK FCA and UK FOS as well as ActionFraud.
 
I am in Singapore.

For all those reading this thread and this is their site as of Feb 16th, 2016: www.ecn-markets.com

Home Page:
upload_2016-2-16_21-17-15.png

About Page:
upload_2016-2-16_21-18-3.png

According to them, their office is located at the following address in UK:
1 Knightsbridge, Abu Dhabi Investment Authority

I was told they were relocating to a bigger office (not sure when)

They also said they had offices in US and Israel(Haifa)
 
Perhaps so as a guy named Waseem called me from there and briefly discussed how they would manage my account.

After depositing my USD 20K, nothing happened. After two weeks i decided to withdraw all the funds as I need the money back for an emergency and thats where things got nasty. Thats where Adam Ibrahim (UK office) called me and hijacked the withdrawal process and churned my account without permission. (See 1st post in this thread)
 
Have a chat with your bank. They should know about how to file wire fraud charges.
 
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