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Discuss FIGfx.com

General discussions of a financial company
Hello MichelAnge21,

First, thanks for letting us know your thoughts; I really love the way you described things; It even looked so true to me in some points; I'd really love to know you have such a creative mind. Still, this is just another way of twisting facts.. I see it and do it in one way, you see the same from your own angle, that's your choice.

Transparency Brag:
Pay attention you too, you seem to me just like another ignorant reader. The same TOS page mentions clearly that upon any account blockage, a certain procedure is followed.. read that a few times.

Automation brag:
Right, there are red alerts and whistles; I confess; But when that comes to managing a client-base of over 50K traders, that becomes impossible. And again, how we automated our procedures is our own choice.. we did a full explanation in a paper called TOS.. you either accept and trade, or keep googing for the next broker around.

Seychelles/Delaware brag:
Where and how we set our incorporation(s) is something you reeaaallyy do not have to care about. Offshore business planning is done on higher levels than you can imagine. Again, assume FIG is incorporated in Pluto or even Mars.. you either accept it and trade, or hit the pass button. The silliest option would be trading and complaining that Seychelles is a LOL factor :)

Additional brag:
The one thing I seem never able to understand is why tens of thousands of traders come to FIG, trade, make profit, withdraw, come again, lose, then come again, make profit again, etc.. and never face any problems.. Only a very selected few do search (and find) problems. Any hint on that?

Do me a favor, hit the pass button and stop wasting my, and your own time. All answers to all your possible questions are answered on our website, if you do not find those answers, means you are not supposed to ask that question. Yes, that simple.
 
Javier

Correct: I dont have to care where you are incorporated for the simple reason I would never consider opening an account with you ( or with any broker incorporated in the Seychelles, Panama, Mauritius, Russia and the other places where Forex isn t properly regulated ) But you still didn t tell us what you did with the clients who sent you a signed contract ruled under the statutes of Delaware. Those contracts were modified BY YOU AFTER SIGNATURE and are now VOID AS PER YOUR OWN WEBSITE.

Read your own article 27: it says any alteration to the TOS documents will be deemed void. Didn t you read your own rules ? You appear like another ignorant reader now. You must request a new signed contract from every old trader now.

Also: your article 27 states that the signed copy must be RECEIVED by you within 7 days after completion of the online application. Did it ever occur to you that, when sent from many parts of the World, the postal service CANNOT guarantee delivery to the Seychelles within 7 days ? Heck, that s a normal delay from a province town in France to New York. Even when it comes straight from Paris, I sometimes get letters after 7 days in Montreal where I live. Another trap, and a trap even the most diligent trader cant avoid ( " Sorry, your signed documents from Paraguay arrived only after 12 days to the Seychelles. Tough luck: your profits are confiscated. Didn t you read article 27 ? Rules are rules. Sue us " ).

Of course, you might respond: " We re not THAT crazy: we would accept the 12 days delay ". But MY point is precisely that it does not really matters if clients send the documents after 7 or 12 or 30 or 60 days. There s no real legal basis for invalidating trades because of that. It s purely an arbitrary decision from your part to set the limit at 7 days. And with that attitude of yours, I wouldn t even TRUST you for the extension to 12 days. Nobody should open an account because nobody can be sure their documents will be received within your ARBITRARY delay. Since you accept their money and you do NOTHING to warn them they did not comply to your article 27, they would actually WIN very easily if they COULD sue you. But will they ? In the Seychelles ? For a couple thousand bucks ? Or even for 10k ? 20k ? In the SEYCHELLES ? Your " sue us " is quite ironic. Some kind of dry humour I guess.

You say all possible questions are already answered on your website. Here s one for you: where are the actual operations located ? Cant be the Seychelles; they dont have fiber optics yet and satellite internet is slow, unreliable and costly....so it s somewhere else....guess it s one question you re not supposed to ask..... I know that nobody from your company works at your declared address in the Seychelles: they are only your compliance agent there specializing in selling shelf companies and setting up a nice little offshore corporate structure for a fee. Yes, try Pluto next time: there are newbies who wont care. I m only here to tell you that your " Sue us " is a big joke until you tell those people where to serve the papers. And I mean an address where a company representative actually works. And offer them a jurisdiction where justice is actually reasonably efficient. When the CFTC actually sued you in the USA, you preferred to buy a pair of running shoes to run from that jurisdiction, didn t you ?

As for the majority of traders who dont complaint...well you target beginners with micro accounts and bonuses. Therefore, most of them will lose their money by their own fault. Why would they complain ? ( I bet 80% of your clients use some stupid robot, and the other 20% flip a coin before entering a trade right ? ) The complaints will come from the few who win big ( a tiny minority ). Then, for those, there is the " good ol article 27 " ( written in contracts that you voided yourself ).


And why would I pass on my chance to comment on your business practices ? You re one of the few brokers who actually spend some time trying to justify yourself and you do it with such a cocky attitude that it has a pretty good entertainment value.

Have a nice day
 
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Is FIGFX regulated?

Hi there.

I would like to know if FIGFX is regulated.
It doesn't mention anything on their website.
 
Hi there.

I would like to know if FIGFX is regulated.
It doesn't mention anything on their website.

Forex is not properly regulated in the Seychelles. They have a thriving offshore financial service providers sector there that was created to attract capital to that micro-State (Pop: 87 000 ). The " authority " there would be the Seychelles International Business Authority (SIBA.net ), but they have no specific regulation for Forex. Forex brokers incorporated there normally use a mutual fund licence. There is no capital requirement to get the licence (IE: the Company can have zero money of it s own ). The shareholders are required to have PERSONAL assets of 1 million jointly....but those assets can be in a trust fund shielded from any litigation.

Nobody knows where are the actual operations of Figfx. The Seychelles will not have a fibre optics submarine cable before late 2012 and has to use the slower ( and costly ) satellite internet connection: so the operations are somewhere else ( maybe Limassol, Cyprus, but Fig isn t registered with CYSEC ).
 
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Hello from Germany!
I would like to say THANK YOU FigFX team!
On my account, almost $ 3000. BUT! I have forgotten my phone password (you know what that is). I thought that money I'll never get (the first point to not pay). We have written to administrator via email and thing was done at once! Today, $ 3,000 in my account! This is serious company and I continue to recommend. Booyah! Keep it up! Once again THANK YOU!
 
FiGfx Is Very Good In withdrawals/Deposit

I am a Nigerian I use FiGfx NiG (website) to make my Deposit. with Local Bank Deposit. FiGfx Services is Good and Stress free .I enjoy Fast deposit/withdrawals to My FiGfx and and My Local Bank account within one Business Day. FiGfx Have Services excellence with Their 100% bonus and 1pip spread. Any time I call Nigerian Support Line I get my Help. infact Their services is Very Easy and accessible for Me oooohhh
Nannce
 
Hello telez09,

Thank you very much, I am happy to hear your issue is solved properly. And thank you for the nice words. We look forward to serve you in the future with more and more excellency.

Nancy,
Thank you very much, I believe you mean Mr. Uche's services office right? He is a very reputable and trusted partner of FigFX and we have been hearing great news about their great services offered in the Nigerian segment, thank you for the good words and please let us know if there is anything we can do to offer you more and more quality services.
 
Pip hunting

Is pip hunting enabled on your servers? I mean I open a position, wait for at least zero or positive profit then immediately close it. No more than one position is opened at a time, I do not open another position until the current one is closed, but once it's closed I can open another position immediately. Is that allowed, or it's not scalping for you?
 
My DEPOSIT in FigFx NO REFUND, is it true?

Hello Javier Keeth,

I opened an account,no:155454,in FigFx last week, Also I got an account termination mail yesterday which tells:

"FIGfx Solutions Limited noreply@figfx.com
Wed, Jun 22, 2011 at 4:26 PM
This email is to inform you that your forex trading account opened with FigFX Brokers
has been permanently terminated due to a violation/incompleteness of your profile's documents.....you were supposed to send us
your verification documents and signed customer agreement within 7 days of opening your account. ...."
where the mail also mentioned:
"...There will be no refund."

Before I got this termination notice days ago, I requested withdraw my deposit. Because I reviewed figFx web policy which do not permit some EAs, thus choosing to leave. and later I also recived a mail from FigFx pertaining to my request:

"FIG Solutions Limited noreply@figfx.com
Tue, Jun 21, 2011 at 8:12 AM
We regret to inform you that withdrawals using the LibertyReserve system will be delayed due to some technical difficulties in accessing the LibertyReserve website.
We assure you that this technical issue is temporary, and that we have contacted LibertyReserve business relations to get this issue solved as soon as possible.
We are sorry for this unforeseen delay, looking forward to finish all pending withdrawals by tomorrow evening.
"

I wait for processing withdraw and no submitting documents. I did not receive any warnings during whole periods. But, finally I got the account termination mails instead.

I accepted all decisions you made but one thing I am wondering if My deposit will not get refund? I send this question to your support but no answer by now.

I am impressed of your solving other client problems so quick here. So I would like to ask your help to my question: will I get refund for my deposit in FigFx?

Thanks for forexpeacearmy to let me have a place to ask Javier Keeth's support.
 
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