FPA Scam Finding
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...
Everest Markets first drew the FPA's attention in late 2012 by leaving 2 fake reviews for itself from inside the company's offices. This was followed by another fake review in mid-2013. Overt time, complaints by clients having problems making withdrawals escalated.
There are now 3 FPA Traders Court Guilty Verdicts against the company.
Case 1. FPA Member bronxfx reported her experiences trying to get a withdrawal processed. She got varied excuses and long delays that stretched for months. The FPA managed to get in touch with Max Fuller, he then claimed there was a problem verifying her passport. Bronxfx said that was a new excuse. In the interest of giving Max Fuller and Everest Markets every chance to resolve the problem, the FPA put the case on hold. Different FPA members found inconsistencies in the information posted by Everest Markets in the case thread. At one point, an EverestMarkets.com employee posted that BronxFx had been paid. It turned out that she had received $1000 and was still owed over $8000. Eventually, the NZ FSCL reported that they were having difficulty reaching Max Fuller. After granting Max an excessive delay, the case was put to a vote.
Case 2. FPA Member masifsaleem reported that he kept getting delayed when trying to withdraw money. The FPA tried to contact Max Fuller again. Masifsaleem said he couldn't get any responses to emails and that the phone at Everest Markets wasn't being answered. The only direct response was a post on the Everest Markets review page about the company having difficulty with Skrill for some clients. No effort was made to respond directly in the case thread, the original complaint thread, or to the client via email.
Case 3. FPA Member fxwizard reported that after learning that other clients had troubles making withdrawals, he attempted to make a withdrawal from his account. An initial small withdrawal took 2 weeks. A larger withdrawal was met with excuses and then by failure to reply to emails. When contacted by the FPA, Max Fuller promised to get back to fxwizard by the end of the week. Max missed the deadline, but a late reply had information claiming that Everest Markets was closing and that withdrawals were pending. The FPA emailed Max again, requesting action, not excuses. Max didn't bother to reply.
Under these circumstances, the FPA has no choice but to declare that EverestMarkets is a scam broker and Max Fuller to be a scammer. This ruling applies also to any other websites under the control of this company or its owners. We offer Everest Markets and Max Fuller the opportunity to have this scam finding lifted by meeting these requirements...
1. Process all overdue withdrawals. Add a 0.5% compound interest payment for each full month compensation for any withdrawal that been delayed more than 2 months since the initial request was made by the client.
2. Make certain that future client withdrawals for clients with confirmed identity documents are always handled within 1 week. All identity documents should be confirmed or rejected within 1 week of submission.
3. Train all existing employees and newly hired employees in basic ethics to prevent further incidents of employees leaving fake client testimonials.
EverestMarkets.com and Max Fuller himself are both hereby blacklisted by the Forex Peace Army. We urge traders not to do business with this company or with any company associated with it. For those who already have accounts with Everest Markets, we recommend that you attempt to withdraw all funds as quickly as possible. If you encounter any trouble getting a withdrawal processed within a reasonable amount of time, we recommend you leave a 1 star review, start a new thread in the Scam Alerts folder and you file fraud complaints with the authorities.
Discussion Thread for this Scam Finding
Bronxfx's original complaint against EverestMarkets
Bronxfx's Traders Court case against EverestMarkets
Masifsaleem's original complaint against EverestMarkets
Masifsaleem's Traders Court case against EverestMarkets
Fxwizard's original complaint against EverestMarkets
Fxwizard's Traders Court case against EverestMarkets
FPA Review Page for EverestMarkets.com