i have had no communication from eu-fx since 31/10/12, My online account is still ticking over, but no one has got back to me in spite of several emails and phone calls, i am getting very concerned. What should i do?
Hello new member Nickgiles,
You are dealing with what appears to be a completely unregulated firm.
Try to reach them by Fax and Phone at the numbers posted on their website: eu-fx.com - Managed Forex Accounts
Tell them if they don't get back to you in 24 hrs you will contact the regulatory authorities here:
SECURITIES, BANKING & INSURANCE
DUBAI FINANCIAL SERVICES AUTHORITY
Level 13, The Gate
P.O. Box 75850,
Dubai , U.A.E.
Phone: +971 4 362 1500
Fax: +971 4 362 0801
Internet: Dubai Financial Services Authority
I have visited the regulator's website and find no evidence of this firm or it's copyright name: EU International Ltd.
Contact the regulator for info on how to proceed from you location.
Anthony Ingrassia, CTA
NFA ID#: 0278164
How did you get in contact with this company? Do they use a bank account in a different country then Dubai?
I ask you these questions because this looks a lot like the FX-Root.com scam. They always go out of business around this time of year. First they stop with communications, while the account is still live, then your unable to log in and finally the website disappears. Also the text / information on their website is very similar.
Hope I am wrong, don't want to alarm you unnecessarily.
I am already very worried, There is defiantly something wrong i just don't how bad its going to be.
The bank accounts used are all in Dubai. i will contact the Central Bank and ESCA on monday and probably the police depending on what they have to say.
I sent a withdrawal form to them on the 21st, and the day after i got the following notice:
" The Department of Economic Development (DED) has ordered that EU INTERNATIONAL LIMITED (Registration number: A207/02/12/4408) be liquidated."
I have sent an email to DED to try and find out the truth, i am waiting for a reply.
I can see on their website that they use Etoro as forex brooker. Maybe you can contact them to see if EU-FX still have an account with them and if they actually have traded on this account. This should give you a clue whether they are legitimate or not.
Make certain that this DED organization is legit. If they are, contact them directly for a status update. It would be way too easy for a company attempting to run off with client money to send a fake email from a fake (or real) government agency or regulator saying that the company is in liquidation and to expect to hear more about your money later (i.e. when hell freezes over).