etfinance.eu scam - some help?

cormack12

Recruit
Messages
6
Hi,

I opened an account through this broker and my experience is similar to the reviewer CKOne on the reviews page here:


I was duped into making a lot of small transactions against the .m! markets to have enough trades to upgrade my account to a professional account. I obliged and spent a day on the guidance of an account manager to trade. I attended a webinar. The account manager repeatedly phoned me and asked me to put more money into the account - at first I obliged as it looked promising and the 5K seemd to get you to a favourable position. However, I then said I had no more cash and couldn't invest more. Today he pointed me to three trades to make

USDMXN
USDTRY x 2

I then got a call saying they had traded on exotics and they had to be left overnight. If I didn't find more money then my entire account was wiped. I read up on this and asked if my margin was 200% this should be sufficient. They said it wouldn't be (both my account manager and his manager), so I scrabbled together some funds as I was told it was only to get through the swap comission and I could withdraw it tomorrow. At no point was 'stop loss' mentioned or discussed with me which I've since read up on, there was no discussion about overnight swaps or risks on large volume on closed markets left open.

So this is my account prior to the 10pm swap



And this is after the 10pm swap



What is interesting s that stocks are not moving when I look at them in MT4 but are when looking at them live:





It became apparent I was going to withdraw tomorrow so I logged two support calls as there is no UK sort code option





This was my account status prior to the 'swap'




I'm reading through this


and also this:


I will be fighting for all my deposits to be reimbursed back to my card which I think is reasonable. Should I raise a complaint/ticket on the official site or just go straight above them?
 

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cormack12

Recruit
Messages
6
I have closed the trades off manually as I could see from the Free Margin the account would have gone into the same status and needed further replenishing with funds I do not have later. My account manager had blocked me after I requested assistance/advice via email in the morning so I have had to do what I think is right in the moment. I have found a couple of cases that are carbon copies here on the forums:

https://www.forexpeacearmy.com/community/threads/etfinance-stole-my-money.62163/page-2#post-347019

I have submitted a review but it may take a couple of days to appear. I have updated the service desk tickets and joined live chat. Now I have closed trades the figures are:

Deposits made by me: ~£8500
Equity left to withdraw: ~£3000

I have submitted my withdrawal to the card I funded the deposits with and it looks like I have ana utomated email ackowledgement.
 

rice31993

Recruit
Messages
4
Hi, I am really sorry I am new to this site, and after reading your post sent a e-mail of similar with same company, it got lost on the forexpeacearmy.comsite as I was not linked on google but just used the same e-mail is there anyway someone from peacearmy may find this post as it was ETfinance who have scammed me too and I need help and advice in private helpsecttion is there a place like this here to begin with? I have got an account on peacarmy site. Can you help?
 

rice31993

Recruit
Messages
4
can anyone at forexpeacearmy.com see my e-mail and send me a reply so I can communicate better. I posted a post of ETFinance but it was not linked to google so It disappeared . please get intouch on my e-mail put on the site as rice31993 thanks
 

cormack12

Recruit
Messages
6
Did you send messages to emails those are mentioned in the website?
Yes. I sent an email to their complaints department. I have since had an email and contact and am due a follow up call tomorrow. I was informed on the first call that the account managers are not there to teach me how to trade and the T&C contains references to swap comissions being the responsibility ot myself.

I highlighted several points and the complaints department seems to be a liason between myself and the company. The lady I spoke to was going to speak to the company in the interim and update me tomorrow. I explained that account managers should not be telling me to trade either when I picked a trading pair but was told to explicitly put it on USDTRY and USDMXN

I asked in the first instance for my funds to be withdrawn to my card. They have so far refunded £2000 of the £3000. I have no idea why the extra £1000 has not been withdrawn. I have made another request today.
 

cormack12

Recruit
Messages
6
Edit: She did also say to not bother raising with CySec because the complaint would just be routed via their complaints department......
 

FxMaster

Lt. Colonel
Messages
7,903
Yes. I sent an email to their complaints department. I have since had an email and contact and am due a follow up call tomorrow. I was informed on the first call that the account managers are not there to teach me how to trade and the T&C contains references to swap comissions being the responsibility ot myself.

I highlighted several points and the complaints department seems to be a liason between myself and the company. The lady I spoke to was going to speak to the company in the interim and update me tomorrow. I explained that account managers should not be telling me to trade either when I picked a trading pair but was told to explicitly put it on USDTRY and USDMXN

I asked in the first instance for my funds to be withdrawn to my card. They have so far refunded £2000 of the £3000. I have no idea why the extra £1000 has not been withdrawn. I have made another request today.
OK. Now,
First of all, invite the 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 whenyour first post reaches 4 days old.
 
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