Ecnprofx website shut down no answer

4scalpex

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19
Ecnprofx

Hi all,

I would like to inform traders community about ECNPROFX ECNPROFX | Forex Trading on their manipulations with clients accounts and problems with withdrawals.
Company owed me and my friends 31.135 $ and we can't withdraw our funds more than 2 months.

Accounts: 503359; 503361; 503362; 503363; 503364

We are still in contact with management , but we get the same bull**** about how they handle our funds and so on.
We got only small part of our profits and deposit is still hold there.

They only extend time and avoiding of direct answer and action.

They are regulated and we also prepare official complain and send to their regulatory.

By this I want to warn ECNPROFX and I give them a few days for remedy, if not I will post all story about this company.

Also I ask for help of traders community how to solve this issue.

If problems disappear I delete this post, otherwise I will update it with details.
 
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Pharaoh

Colonel
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19,722
If you and your friends haven't done so, start leaving some nice shiny 1 star reviews. Each of you should do this from your own home. If you all get together and leave them from the same location, AsstModerator or one of his review mods will consider the reviews to be coming from one person.

Send the broker a link to this thread. Let ECNPro know that the world will be seeing what they've done.
 

4scalpex

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19
I sent ECNPROFX this link. We got message from management, they will solve it with compliance dept. But we heard this many times and no changed, still the same story.
Waiting for action from their side.
 

Pharaoh

Colonel
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19,722
Let them know that you'll be keeping this thread up to date so that everyone can see if ECNProFx is a scam or not.
 

4scalpex

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19
Got message: They will pay all in 45 days. Deadline is 5/5/2012. Just waiting for deed from their lawyer about payment conditions. I hope they will keep their words and pay all in time. I will update this thread if something changed.
 

Pharaoh

Colonel
Messages
19,722
That sounds more like a stalling technique. Either they have your money sitting safely in your account ready to transfer to you or they don't. 5 days for paperwork is reasonable. 45 days means that something is very very wrong with your broker.

I recommend contacting any and all authorities. Ask your local police about how to file an internet-based financial fraud complaint in your country. If you sent money in by bank wire, ask your bank about what your options are for filing wire fraud charges.
 

autt86

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23
I had 2 accounts with ECNPROFX –

502383 Classic account – total in account over $100k

503022 ECN account. – total in account - $43 211.87

To this day I still not received my withdrawal and my initial deposit from ECNPROFX
I received an email from ECNPROFX on 15/01/2012 to inform me that both accounts were shut down due to Toxic trading.
“Sorry to inform your, our bank detect your account as a toxic, because of trades you did.
Because of that we have to disabled your account temporarily until we get approval from the bank.
Our funding manager try his best to solve about this issue with bank officer.

Once again sorry for the inconvenience.”

I explained to ECNPROFX I am using a high speed scalper EA that is privately developed by professionals – Million Dollar Pips EA. According to ECNPROFx terms of service they allowed scalping EA s, there is No resrictions.

A Mr SP Chanthru had emailed me back and explained.

We have got a freeze condition on your account as it is a TOXIC Account . We have the request to the bank and we will only get the approval by this Friday. Upon approval we will have to change your group to Toxic trade group and then you will be able to start trading as per normal. Remember we are not Market Maker therefore we must follow the protocol by our Liquidity Provider to ensure all clients trades and fund are safe.

Most likely you will able to start back trading on Wednesday.

Should you have any queries relate to this matter do not feel hesitate to contact me directly.

Regards

SP Chanthru

My account was back up and running on 29/01/2012 and I had continued trading as normal, Mr Sp Chanthru wanted to know my trading style therefore discuss a mutual benefit for me to continue trading.

“How are you doing I hope you are fine . I need to discuss with your good self about your trading style for a mutual benefit. Please do let me know your best time to chat with via SKYPE”

He had given me two options – 1st Option was to withdrawal my funds and ECNPROFX will pay in full and stop trading with them. 2nd option was to continue trading but not surpass 30% a day. The information he was telling was breaking the regulated law, I have a conversation script that shows Mr Sp Chathnru instructing me what to do word by word onto how he can help me as an insider at ECNPROFX.

I had agree to continue trading by not surpass the 30% a day, but on the 1/3/2012 both account once again was closed but this time with no explanation.

Mr Sp Chathnru does not reply to my messages and the website seems to be shutdown.

I ask for help of traders community how to solve this issue.
 

autt86

Private
Messages
23
And another broker falls off the web.

Were they regulated?
yes, regulated by the Ministry of Economic Development of New Zealand

Company number: 3627731
Incorporation Date: 28 Oct 2011
Company Status: Registered
Entity type: Overseas Non-ASIC Company
Country of Origin: United Kingdom
Constitution filed:Yes
AR filing month: November
FRA Reporting Month: November
Company Addresses: Principal place of business in NZ
Ecn Offices, 2 Gilmer Terrace, Plimmer Towers, Level 22, Wellington, 6011 , New Zealand
Address of person authorised to accept service in NZ
New Zealand Capital Finance Limited null, Eurofianzza Law Office, Level 5, 22 The Terrace, Wellington, 6011 , New Zealand
View all addresses
Directors Showing 1 of 1 directors
Chanthru SARIGABANI
43 Rosina Drive, Melton, Melbourne, Victoria, 3337 , Australia
 
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