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FigFx scammers, stealers - withdrawal "problem"

Discussion in 'Scam Alerts' started by Scythian, Feb 23, 2012.

  1. Scythian

    Scythian Private, 1st Class

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    Unfortunately I have to agree with Laurens from Netherland and THT from Vietnam, because I have the same experiences. I don’t talk about big money, but if this company does this for just a little money, then what does this company do, if this is about more thousand dollars?

    In summary:
    I opened a cent account at this company just a few days ago. I made a little profit, and when I wanted to withdraw my money, they disabled my account without any good reason, and they didn't send my money back.
    (Meanwhile I've found a similar problem in scam alert folder: http://www.forexpeacearmy.com/forex...8-figfx-com-scamed-my-29-usd-please-help.html)

    My experiences:
    - execution times are usually between 3-56 seconds
    - if you want to withdraw your money, then they try to mislead you and they will find the way no to send your money back, of course without any good reason or explanation
    - there are many other contorversial things on their page:
    1. https://secure.figfx.com/why-trade-forex.aspx here they write the minimum deposit is $5 if you open a cent account, here this is $10 https://secure.figfx.com/cent-accounts.aspx ;
    2. they write in this page that the minimum withdrawal is $10, but if you try to withdraw your money, then you’ll get an error message, that the minimum is $25;
    3. theoretically there is a live help on their page, but this doesn’t work, you’ll get always a message that they are currently serving other clients, so send an offline message instead;
    4. theoretically they don’t use dealing desk (NDD-execution), but in this case the execution times wouldn’t take more than 1 seconds, but here these are 3-56 seconds.

    So, if you don’t want to lose your money, then stay away this „company”!

    So here is my story:
    I opened an account at this company and I made just a few trades, I didn’t use any EA and I made a minimal profit. It seems there are a few tricks, which this company uses.
    They claim that their execution type is NDD. Despite of this the execution time is between 3 and 56 seconds in my experiences. There were times when the 3 second was valid, but another time it was between 22 and 56 (without any news). So they have small spreads, but they use delayed executions with market order. It means, you can’t control the price, so yes, you’ll never get requotes, but you may get another prices which you wanted (trick #1).
    A few days later I tried to withdraw my money ($17.63) from FigFx. They write on their page, that the minimum withdrawal amount is $10. I made my request, but after I clicked the submit button, I got an error message, that the minimum amount is $25 (trick #2). I tried to chat with them online using live help, but it never worked in the last 1 month. You may believe, that you can get answers and solutions everytime, because you see a picture about their „live help”, but you’ll not able to use it, because in practice it doesn’t work (trick #3). So you have to send an offline massage, because as they wrote: „All our customer support representatives are currently serving other clients. It might be more reasonable to leave us a message.”.
    As I wrote this status is valid for all time, so I notified their support team, that I have a problem with the withdrawal. Firstly they asked me to fill my trader profile. I made this and I submitted my ticket about this problem again. Meanwhile I asked them how I can change my ticket priority to high, because I didn’t find anything to do this on their page. And I had another question too about this „live help”. I didn’t get any answer for my first question, and my second question was answered: „We use ticketing system instead of live chat.”. It became important later, because they wrote this in another message:
    I would appreciate if you stop annoying everybody with your useless tickets. To us it appears you are using a very old browser that is unable to even submit a withdrawal request or see a chat window. Fix your issues, then start complaining about errors, if any.
    So these messages are controversial, as many other things about this company, as I mentioned above. Anyway I use the latest Firefox and I wrote to them, that it isn’t a client-side problem, but this „problem” on server-side. They use ASP-pages, which means Active Server Page. If you make a request, it is sent to the webserver, it processes the request and sends back the message (typically a dynamically generated webpage). In this case it was the „Sorry, the minimum amount for withdawals is $25.”.
    So their trick #4: they try to mislead you with technical explanation, and if you don’t know the informatics, then maybe you’ll believe them. Meanwhile I made another deposit ($10) to skip the „minimal withdrawal” problem, and I wrote my opinion about their explanation.
    After this they disabled my account without any good reason and I got this message:
    Your account has been disabled for addressing our team members with public insults in your previous ticket and in multiple occasions. You do not make any good addition to our family of trades, and you are absolutely not welcome here.
    I would appreciate if this would be the last time we hear from you.
    So vain you are, so vain.

    So this is their final trick (#5): they will find any false reason to close your account.

    After this message, I asked them again to send my money back, but I didn’t get my money back ($17.63 + $10) so far and my account is still disabled.

    Please, check our full conversation (support_ticket_1.jpg) in the attachement, and decide for yourself, what the truth is, and which behavior is incorrect!
     

    Attached Files:

    #1 Scythian, Feb 23, 2012
    Last edited: Feb 23, 2012
  2. stevesmain

    stevesmain Sergeant

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    Remember
    1) they have disclaimers etc. in their tos, don't you think?
    2) see #1
    3) see #1
    4) anytime there is a delay in execution, then they are using a plugin to delay trade execution, check the meta quotes thread

    Did you follow the tos to the letter and forward a hard copy to them in 7 days?

    Any one who considers opening an acct with fig at this stage, is begging for trouble as they have too many bad reports with their tos.

    Does fig know the meaning of customer service? It used to be the customer is always right, with fig it is the customer is seldom right and we don't care.

    These are small accts. that will use up a lot of time when dealt with poorly as we see here.

    Some one should start a poll of there satisfaction level with these boys!
     
  3. athenafx

    athenafx AthenaFx Representative

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    Of course, you cannot trade with such companies. They are not regulated and they often break the laws. They are usually rude and aggressive, use laughable Terms of Services and more often, do not even have a single liquidity provider. They offer a bonus and insane leverage and make profit from very very small accounts.

    This kind of company should probably turn to bankruptcy if they had only one real trader placing a real order (of course, it is impossible because no one will transfer millions to a bucket shop).

    Many of these companies recently found a new way to increase their profits by confiscating the deposits. Their bet is that traders owning small accounts will be reluctant to fill an expensive lawsuit in unregulated countries.

    You may consider that $30 is pretty cheap to learn such a lesson.

    So my best advice is : forget them and open an account with a BANK whose headquarters are located in a highly regulated country.
     
    #3 athenafx, Feb 23, 2012
    Last edited: Feb 23, 2012
  4. Scythian

    Scythian Private, 1st Class

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    It is true, but I think a contract or a TOS must remain within legal limits. Nobody can write in a contract, that if you don't send me a letter within 7 days, then I'll legally steal your money.
    Anyway, in this TOS there is this text too: "In such cases, the client will be eligible for a full refund of his invested capital within 14 business days as of the date of account closure."

    Yes, I know the Virtual Dealer Plugin, the Metatrader 4 Manager and Administrator.
    Here are some links:




    Just I don't understand how FigFx can get such high rate on the review page (of course they can send good reviews for themselves), and why FigFx haven't got the SCAM rating so far, if there are such bad reviews and experiences connected to this "company".

    How is it possible to start such poll?

     
    #4 Scythian, Feb 23, 2012
    Lasted edited by : Jan 15, 2016
  5. Scythian

    Scythian Private, 1st Class

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    Yes, you are right, $30 is not too much to learn such a lesson. But it is not about the money primarily, but about the mentality. I can't accept that there are such scammers who think that they can do anything without consequences.
    That's why I submitted my review and my thread.

     
    #5 Scythian, Feb 23, 2012
    Last edited: Feb 23, 2012
  6. stevesmain

    stevesmain Sergeant

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    Fig has often worked with the FPA to address the complaints. They are just putting off the eventuality of the fruits of their labor.

    With all too many complaints about their tos and the way they deal with clients, the FPA ought to address this with a very strong warning on their review page.

    The only other comment that can be made is the old adage 'buyer be ware'

    Also they really do not have that many good reviews.
     
  7. mrmoha

    mrmoha Private

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    so sorry friend , i wish you get back your money ,

    if some one can help please help me Figfx.com scamed my 29 usd please help

    i want fpa to mark figfx as a scam broker because i never trade with them if i saw a thread like this in the first .
     
  8. Pharaoh

    Pharaoh Colonel

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    Some inconsistencies between rules will crop up in websites from time to time. However, depositing that extra $10 should have fixed the issue (unless there's a bonus issue lurking in the background somewhere).

    Over the last year or so, I think Fig's biggest failing has been "service with a snarl", but I am feeling much more concerned lately.
     
  9. Scythian

    Scythian Private, 1st Class

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    The amount, which I wrote, is a net amount without any bonus, so there is no bonus issue, and I opened and closed just a few trades.
    In addition they wrote that the withdrawal must work with $10 (this is the valid minimum amount on cent accounts). But as I wrote I didn't work even after it was written several times that the error was corrected.
    I made the second deposit, but I couldn't submit the withdrawal request with more than $25, because meanwhile - as I wrote - they disabled my account.

     
    #9 Scythian, Feb 23, 2012
    Last edited: Feb 23, 2012
  10. Accent

    Accent Private

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    WHy They have many stars? Because sometimes ago FIGFX pay their user 10 USD to make positive review in FPA and any other forex review forum! SO WE HAVE 4 STAR SCAM BROKER HERE;)
     
    #10 Accent, Feb 23, 2012
    Lasted edited by : Jan 15, 2016

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