ruseneca
Master Sergeant
- Messages
- 348
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!
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...
- No Dealing Desk / No Virtual Dealers
- Instant STP order execution & Guaranteed Fills
...could not be true!!!
Here is a part of the log file...Just look at the time required to open an order.
MT4 Log file said:09:55:47 '305827': instant order buy 5.00 EURUSD at 1.3740 sl: 0.0000 tp: 0.0000
09:55:48 '305827': request was accepted by server
09:55:48 '305827': request in process
09:56:03 '305827': order was opened : #4971150 buy 5.00 EURUSD at 1.3740 sl: 0.0000 tp: 0.0000
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:
- Please do NOT recommend figfx to anyone, nobody actually asked you to by the way.
Thank you & Have a nice day
As you can see, FIGfx is more a "Casino" than a "Broker". You just make a deposit and never see it again!