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  1. Scam Investigations Committee

    Joined:
    Mar 2, 2008
    Messages:
    249
    Likes Received:
    17
    FPA Scam Finding Against
    Forex-Age.com

    We the members of the Scam Investigations Committee of the Forex Peace Army have deliberated on all the evidence available to us and have reached a conclusion. It is our opinion that...

    In the April of 2012, FPA member Nasser2020 opened an FPA Traders Court case against Forex Age. The company was refusing to process a withdrawal for about $4000. Forex-Age admitted that the money belonged to Nasser2020, but claimed that he needed to apologize to the company before processing the withdrawal.

    When contacted by the FPA, Forex-Age told the same story and refused to process the withdrawal. Forex-Age was warned that non-payment under these circumstances risked a scam finding. The FPA's position is that apologies are irrelvant to a traders right to money owed.

    The Traders Court case went to a vote and came back as guilty. Several weeks later, Nasser2020 reported that he went ahead and apologized. The withdrawal was still not processed.

    Failure to return money legitimately owed to traders is the FPA's first definition of scam. In this case, any apology is irrelevant to the rules of trading, so should have had no effect. Forex-Age's contined refusal to process the withdrawal shows that the apology excuse was a lie and the company is a scam.

    Under these circumstances, the FPA has no choice but to declare that Forex-Age is a scam broker. We offer Forex Age the opportunity to have this scam finding lifted by meeting these requirements. 1. Process Nasser2020's withdrawal, including a compounded interest payment of 0.5% for each full month that the withdrawal is been delayed since the initial request on February 14th, 2012. 2. Publicly post an apology to Nasser2020 for Forex-Age's unprofessional and unethical conduct in the discussion thread linked to this scam finding. 3. Add a note to Forex-Age's Terms of service that clearly states that the company will never again block a withdrawal for any reason unrelated to trading rules violations.

    Forex-Age.com is hereby blacklisted by the Forex Peace Army. We urge traders not to do business with this company or with any company associated with it. For those who already have accounts there, we recommend that you attempt to withdraw all funds as quickly as possible. If you encounter any trouble getting a withdrawal processed within a reasonable amount of time, we recommend you file fraud complaints with the authorities.


    We wish thank Bill, the FPA's AsstModerator, for his efforts on this case.


    Discussion Thread for this Scam Finding

    Nasser2020's Original Complaint Against Forex-Age

    FPA Traders Court Verdict Against Forex Age

    FPA Review Page for Forex-Age.com
     

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