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EMPfx.com, aka E-Money Power

Discussion in 'Blacklisted Folder (Unresolved Scam Cases)' started by Scam Investigations Committee, Jan 7, 2010.

  1. Scam Investigations Committee

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    We the members of the Scam Investigations Committee of the Forex Peace Army have deliberated on all the evidence available to us and have reached a conclusion. It is our opinion that...

    EMPfx (aka E-Money Power) ceased it's brokerage operations. When there were concerns by FPA members about repayment of existing balances, the FPA contacted EMP fx on October 29th. EMP fx stated that all payments should be processed within 6 weeks. Some were, many others were not. The FPA Forums Team, FPA Investigator Tessa as well as many of those who were not paid tried to contact EMPfx over this issue. There has been no response to any of the FPA's since October 29th. No recent contacts have been reported in the forums. FPA member Pipstar opened a scam complaint and also reports no success contacting EMP fx.

    Failure to pay money owed to traders is the FPA's first definition of scam. Under the circumstances, the FPA has no choice but to declare EMPfx to be a scam. This scam finding can be lifted if EMPfx pays off all outstanding balances owed to traders and apologizes for not providing correct information to traders about this event.

    We offer our sympathy to those who lost money. We offer special thanks to FPA member PipStar for taking the lead on this issue in the forums and for filing the scam complaint.

    We recommend all those owed money by EMPfx try to file complaints with the appropriate authorities within your countries. If you are in the USA, ic3.gov is the place to start.

    Discussion thread for this scam finding

    PipStar's original thread about EMPfx closing

    PipStar's thread in the FPA's Scam Alerts Folder

    EMPfx.com review page

    This article contains advice on splitting your trading funds between brokers

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