Discuss FIGfx.com

[ChanhD]

Account disabled for wrong reason

Hi Mr Javier,

I am the FigFx affiliate #116670. I have just received an email informing me that my affiliate account had been disabled for these reasons:

It has came to our attention that multiple accounts were opened by yourself, and managed by yourself from the same VPS, and generate commissions for the partner account you have with FIGfx.


1- You can not self-refer yourself
2- You can not manage other's accounts, you never provided any POA or signed an agreement to do so.
3- Self Rebate and multiple account management is strictly forbidden

I have replied to FigFx wih the following

Dear FigFx,

I think you have misjudged my relationship with my downline clients.

1. I never self-refer myself. I have endeavoured to get clients for FigFx and they have traded on their own without my intervention.
2. One of my clients has a VPS account which he offered to lease some spare space to me to reduce his cost. He might have done similar leases to other people and that could have made you think that myself or someone else managing the accounts.

I request you to re-enable my account as I have the agreement with my clients to recompensate them a percentage of the commission I have earned from FigFx via their trading.

I would not think sharing the VPS between an affiliate and his/her clients is against the rules set out by FigFx.

I should have kept these between us, but because you raised in your email

N.B> The FPA has already been informed as per our efforts to alert the community of our actions against trader's violations.

I bring this issue to FPA and ask FPA to help resolving the misunderstanding.

Thank you & FPA. I hope the issue will be resolved quickly and satisfactorily.

[edit] I just realised that there is no email address that I could send to FigFx. All your emails I have received from you always have "noreply" in them. I could not login to the Trader Panel to send you an email either as it had been disabled. That is another reason why I need to communicate via FPA forum (lol)

 

[Javier Keeth]

Hi Mr Javier,

I am the FigFx affiliate #116670. I have just received an email informing me that my affiliate account had been disabled for these reasons:

Hello ChanhD:

Thank you for your business with FIGfx Brokers.
Your affiliate was terminated because of a self-rebate and/or an unauthorized account management of multiple accounts. As far as I remember, a screenshot of the accounts in action was sent to you with the termination email.

Mr ChanhD,
When four people of the same nationality, living overseas, happen to open accounts at the same broker and all under the same partner.. then running the accounts also from the same IP address, something is apparently wrong.

Explaining:
On our system, there are four "Vietnamese" with accounts opened from Australia. The four accounts share the same residential address, same C-subnet of IP addresses, and same partner account. Add the fact that the four accounts are/were connected from the same IP address.

Screenshot Removed

Most probably, you opened a partner account and referred your friends who live with you, or share the living space. You might have also convinced your friends at work or university to open the accounts, and offered to host them on your VPS as you mentioned.

We do understand such details. Yet, we strive to make our rules public, clear and strict. Earning commissions from accounts you have access to, is forbidden. Please consult https://secure.figfx.com/earn.asp for the complete terms of affiliate program.

- The affiliate account was //permanently// terminated, no more registrations will be accepted from this ID.
- Existing accounts were removed from the corresponding downline and returned to the pool.


Have a nice day

 

[ChanhD]

Hello Javier,

1. You seem not to have any basic respect for your customers when you posted their personal details in public forum without their approval. Please have the decency to remove those details of my clients from your last post.

Now, to address the points in your replies:

2. our affiliate was terminated because of a self-rebate and/or an unauthorized account management of multiple accounts:- You accused me of self-rebate without any evidence. In fact, my arrangement with my clients is I will rebate back to them 50% what I receive from FigFx. I have no management right of their accounts, so "unauthorised' is a totally wrong and not applicable.

3. Only two of my clients live in the same address (as they are partners), and I am not a client to myself as I do not trade with FigFx (to remove myself from such conflict). I am not sure why FigFx does not accept husband/wife to open different accounts.

3. When four people of the same nationality, living overseas, happen to open accounts at the same broker and all under the same partner:- You seem to invent new rules as you go along. The idea you promote in the affiliate scheme is for affiliates to introduce their trader friends into FigFx. For me, the first trader friends happen to be people coming from the same old country. Is that not acceptable to FigFx? Also, there are only 3 names under me as my clients, not four (4) as you mentioned.

4. Earning commissions from accounts you have access to, is forbidden:- I repeat that I have no control over my client accounts. We share the same VPS because my clients would like to reduce the running cost of the Forex business, hence we have the same IP-address, is that not acceptable to FigFx, or are you seeing ghost everywhere?

I request FigFx:

A. to remove personal details of my clients from your post as posting them was unethical & unprofessional

B. to review your decision to terminate my affiliate

I also request FPA to help adjudge this case. I and my clients have no problem if FPA receive all relevant data from FigFx to arrive with a decision. Would FigFx be prepared to accept FPA's final decision?

Thanks to all

(edited: NB. I am sending this reply from my clients' home after we discussed about Javier's post)

 

[Javier Keeth]

I request FigFx:

A. to remove personal details of my clients from your post as posting them was unethical & unprofessional

B. to review your decision to terminate my affiliate

I also request FPA to help adjudge this case. I and my clients have no problem if FPA receive all relevant data from FigFx to arrive with a decision. Would FigFx be prepared to accept FPA's final decision?

Hello Respected Readers,

A- Removed upon your request.

B- Sorry, FIG is no more interested to have you as a partner. You can also ask for a refund of all your client accounts. Along with their profits.

C- FPA's final decision has always been respected, even when FIG was not convinced in some particular cases, we still did what we were ethically asked to do - you are free to confirm with the FPA.​

Have a nice day

 

[ChanhD]

A- Removed upon your request.

At least you have some decency, though a bit late.

B- Sorry, FIG is no more interested to have you as a partner.

Of course neither do I have any interest in working with you. It is obvious that you only scam to steal profit from your traders/affiliates. The main reason for me to ask for FPA to help resolving the case was because I had no trust in FigFx 'judgement', which is declaring clients guilty without any evidence. After reading a few threads about FigFx in FPA, I now know that I made a mistake in trying to work with you. So, I let you steal a few hundred bucks from my account and hope you choke with it. Traders, beware of FigFx and their scams. My clients have advised me that FigFx delays the trade execution sometimes upto over 20secs. And that happens almost with EVERY trade, making jokes of their 1-pip spreads for majors as the prices already move so far away from where the trades are originally placed.

C- FPA's final decision has always been respected, even when FIG was not convinced in some particular cases, we still did what we were ethically asked to do - you are free to confirm with the FPA.

I am still waiting for FPA to help judging this case. The amount is nothing big (over $300), but it is a matter of principle. The forex trading community cannot let FigFx to act with a cavalier attitude regarding their client accounts, ie freezing accounts and stealing profits whenever they want, without any cross-checking from a third-party body.

I would appreciate FPA to reply on my request here, if FPA admin happens to read this post. Thank you.

 

[Javier Keeth]

It is obvious that you only scam to steal profit from your traders/affiliates.
... ...

Do you have a problem with your English?
Didn't I mention clearly above that all profits will be paid?
No wonder you had problems reading the terms of the our provided service.. This is usually where all problems start. Hit F5 to refresh the page and read my previous page again, you will notice new lines describing that the accounts are free to get their money including profits.

My clients have advised me that FigFx delays the trade execution sometimes upto over 20secs. And that happens almost with EVERY trade

Yes sure, when 4 accounts on a cheap VPS send a dozen orders per second, It would be a bad idea to expect a better service. Ask around, most decent users are getting < 2 sec, in average.

The amount is nothing big (over $300)

Ah so you are about your own commissions here?
No sir, we'll pass on paying that. And you can think whatever you want to think.. When there is a policy, everybody has to follow. no exceptions. If you missed that also in my previous post, it is available at https://secure.figfx.com/earn.asp


Have a nice day

 

[ChanhD]

FPA Please help

Do you have a problem with your English?
Didn't I mention clearly above that all profits will be paid?
No wonder you had problems reading the terms of the our provided service.. This is usually where all problems start. Hit F5 to refresh the page and read my previous page again, you will notice new lines describing that the accounts are free to get their money including profits.

Is this your way to do business and defend yourself? Just because I am not a native English speaker, does it allow you to use that fact to ridicule me? That's a new low for a "FigFx Representative".

Contrarily to what you thought, I understood perfectly what you wrote, but maybe you did not read carefully mine. I know, and fully expect, that FigFx will send the fund back to my clients if & when they withdraw. What I meant by "scam to steal profit from your traders/affiliates" was that the money I earned as commission by legally referring traders to FigFx has been stolen by you when you decided, based on very flaky logic & evidence, that I self-rebated.

Yes sure, when 4 accounts on a cheap VPS send a dozen orders per second, It would be a bad idea to expect a better service.

Again, you deliberately used wrong data to defend your argument. First, there are only 3 accounts trading under my affiliate, and in fact one of them did not use the same EA as she had joined my affiliate one day before you blocked my account, and she only traded 2 trades manually. Second, the EA that other 2 traders used never issued a dozen orders per second as you claimed. My clients have advised me that they traded about maximum 40 trades per day. That works out to just under 2 trades per hour, not a dozen per second as you claimed. You have their trading records and know full well of these data, but you decided to twist them to make your argument. That's another low.

Ah so you are about your own commissions here?
No sir, we'll pass on paying that. And you can think whatever you want to think.. When there is a policy, everybody has to follow. no exceptions.

Of course I am, as I am entitled to, after my own commission. I have referred my clients to FigFx, never self-rebated (I do not have a trading account with FigFx), then why can't I get my commission as had been agreed legally by FigFx when I signed the contract?

Again, I formally ask for FPA to resolve this blatant abuse of power by FigFx in freezing my affiliate account, prevent me from withdrawing my commission. I would appreciate a reply from FPA whether FPA can help. I am quite happy for FPA to acquire all relevant documents from FigFx to help you coming to a decision. I would like FigFX to unblock my affiliate account and send me my commission. Thank you FPA.

 

[Javier Keeth]

Again, I formally ask for FPA to resolve this blatant abuse of power by FigFx in freezing my affiliate account, prevent me from withdrawing my commission. I would appreciate a reply from FPA whether FPA can help. I am quite happy for FPA to acquire all relevant documents from FigFx to help you coming to a decision. I would like FigFX to unblock my affiliate account and send me my commission. Thank you FPA.

Mr. ChanhD,
When you report a case to the FPA, it is ethical to at listen to what they have to say. It is not a secret, that each case is always discussed publicly, as well as in the background using emails between the interested parties and the FPA.

In your case, the assigned FPA Inspector have been tired trying to contact you, and you never replied back. You are moving your thread all over the forums here while ignoring the email thread going in the background.

Last email from the FPA Inspector:

Hello ChanhD,

Anything else from your side regarding the other accounts? Two seem to violate FIG's one-per-household rule.

Best regards
*****

Of course, our email in the background to the FPA Inspector was:

Hello Mr. *****,

Thank you for your cooperation with FIGfx Brokers.

The accounts are free to submit a withdrawal request of their available balances including all profits. They will be processed same-day after 17:00 CET which is the time when we process all withdrawals daily.

Thank you and have a nice day

It'd be wise to stop crying and accept the fact that you cheated and caught. Submit a request to get your money, and find another broker around to make commissions this way.

 

[Ropat]

Every Broker Should live to their Claims

It is important that every broker should live to their claims, that is one of the qualities to accord a good rating to brokers. The claims includes prompt customers respond service. I f a broker claims to be 24/5 or 24/7 online chat service it should always be available when their attention is need by a potential or an existing customer, and to post a mark to send an email to customer services or support. Instant online customer support boost a lot of confidence on the customer and further increases the quality service of the broker.
This is the case of figforex or FIGfx.com. Their online chat is creating a lot of doubt on the overall rating accorded to them by FPA rating which is stood as one of their marketing strategy. They claim that all representatives are busy while they are offline. They should better let their customers know that they are offline rather than claiming to be online while they are not. If they calim to be online and all representatives are busy, how could the rate of the busy of all representatives be for as much as over 10-20 hours without response.
The idea on figfx creates doubts on their spurious claims and integrity.

Ropat

 

[Javier Keeth]

It is important that every broker should live to their claims, that is one of the qualities to accord a good rating to brokers. The claims includes prompt customers respond service. I f a broker claims to be 24/5 or 24/7 online chat service it should always be available when their attention is need by a potential or an existing customer, and to post a mark to send an email to customer services or support. Instant online customer support boost a lot of confidence on the customer and further increases the quality service of the broker.
This is the case of figforex or FIGfx.com. Their online chat is creating a lot of doubt on the overall rating accorded to them by FPA rating which is stood as one of their marketing strategy. They claim that all representatives are busy while they are offline. They should better let their customers know that they are offline rather than claiming to be online while they are not. If they calim to be online and all representatives are busy, how could the rate of the busy of all representatives be for as much as over 10-20 hours without response.
The idea on figfx creates doubts on their spurious claims and integrity.

Ropat

Hello Ropat,

Thank you very much for your above comments, your attention and review of this problem is very much appreciated.

Yes! I do confirm that we have had problems with our chat system. Mainly, some operators were not perfectly trained to be in the place they were.

Yet, this is only 1/9th visible part of the iceberg.

A big problem we were facing is people that are not willing to ever read anything. They just enter the website and head directly to the support button.

Case #1
User deposits money, or submits a withdrawal request and heads immediately to hit the chat button with a simple request, please process my transaction.

Surprisingly, the user managed in someway to ignore/not-notice the big bold red box appearing in his cabinet notifying that this is done on a scheduled base from 09:00 until 17:00 CET

Case #2
User connects to the chat, and when asked for his account number and PIN, answer is "please wait".. then disappears for 3-5 minutes holding the operator on stand-by.

Of course, a good number of operators are held on stand-by causing other queries to timeout and get the "operators are busy" message.

Case #3
User connects asking about pip value, minimum lot size, weather FIG accepts moneybookers or not, what are the fees, etc..

All this is mentioned publicly on our website. So we either have to be polite and answer all questions till the last one.. keeping the operators busy.

Or take a shorter turn by closing the chat window, which causes some bad reviews calling our support guys "impolite". While this is the only way to give other an opportunity to connect.

After facing many similar scenarios, we have decided to put a static "operator online" to appear on our website redirecting the user to an intermediary/transitional page with details and answers to the most frequest questions.

That page, available at FIGfx Brokers | Customer Support is supposed to give the users a hint on what information to prepare, what questions to expect, and where to find answers. Of course, a real "live chat" button is there giving the user the ability to talk to a representative.

I hope this information helped.
Have a nice day \ Javier