1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

FIGfx SCAM Alert

Discussion in 'Scam Alerts' started by ruseneca, Nov 14, 2011.

  1. ruseneca

    ruseneca Master Sergeant

    Nov 14, 2011
    Likes Received:
    It is nice to be a member of Forexpeacearmy. Unluckily my first post concerns a Fraud activity.

    On Friday, 11.11.2011, I opened account with FIGfx and deposit it with $18 via LibertyReserve. Unfortunately it was credited with my deposit today.
    Here are the details of the deposit:
    Batch: 76235786
    To Acc: U9419640 (FIG Solutions)
    Amount: $18

    After I started my trading, all orders were executed with a delay. Here, I can say that their statements...
    ...could not be true!!!

    Here is a part of the log file...Just look at the time required to open an order.
    The reason I opened an account with them was to try a new strategy and their spread seemed to me reasonable for such strategy. That's why I made a deposit without checking their status, regulation etc.

    The real problem came when my account reached a stop out because of this "instant" execution which, in fact, is slower than a dealing desk broker where brokers accept an order within 5 seconds.
    Disregarding the stop out, my account balance is 500 cents, e.g. $5
    When I tried to withdraw them, I could not because the minimum was $25.
    Tell me a broker, who have put a restriction for minimum withdrawal amount. As I know, I have made a deposit and I could do whatever I want with my money.
    After checking their regulation, I must say, I could not find such because they are NOT regulated.

    In the end, after submiting a ticket to their support, I told them that I'm not going to recommend FIGfx to anyone. I received the following answer:

    As you can see, FIGfx is more a "Casino" than a "Broker". You just make a deposit and never see it again!
  2. Javier Keeth

    Javier Keeth FigFx Representative

    Feb 16, 2010
    Likes Received:

    - Deposit on Friday after business hours ALWAYS gets credited the next business day, Monday in your case.
    I bet a buck you never read it, you never noticed it, you never realized it even until now.
    No doubt here, as these are the characteristics of a problematic trader (freebie hunter). You shout, you complain, then you find out (if you ever do) that there are rules for this world to go by. Why did you consider yourself an exception, nobody knows.

    - Virtual Dealer is that sort of "thing" big brokers got caught for one day. Use google to read how GainCapital for example was slapped with $459000 fine for using it. That line on our homepage says "we do not use it". The fact that your order got filled in 15 seconds is a little strange, but I can bet this is due to the speed of the telex line you use for your connection.

    - Minimum withdrawal: you just made my day, thanks for the GaG :)
    Without leaving some smart comments again, and to keep your life easy to live, I can just tell you that that rules has been there for like 3-4 years.. And it seems working with all our thousands of traders, nobody ever posted a complaint about it.. So if you do not like it, feel free not to like it even more. That is absolutely your own problem. You should have checked the rules of the game before inserting the coin.

    And finally, your superior support ticket (which you did not post).
    For a ticket like the one you posted, believe me the reply you got was a great one. And I hereby repeat it for you, nobody asked you to promote us, I beg you not to ever promote us as I really doubt we are interested in any more traders like yourself.

    Be a man next time, and post the ticket itself that got you such an answer. Let's see if readers here will like it. Remember, when you show insults and disrespect to someone, all you should expect is an answer using the same terminology. In your case, I remind you again, you got a great answer, so better say thanks to it.

  3. Pharaoh

    Pharaoh Colonel

    Oct 3, 2007
    Likes Received:
    Any chance of seeing that support ticket? :)

    I have a suggestion for Ruseneca, assuming Javier agrees. Deposit just enough to get the account up to exactly $25.00 and then withdraw all the money.
: figfx, figfx.com

Share This Page