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ForexBrokerInc and FXChoice

Discussion in 'Scam Alerts' started by Anomilus, Sep 29, 2016.

  1. Anomilus

    Anomilus Private, 1st Class

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    I just received an email from ForexBrokerInc suggesting that their existing clients go to FXChoice to resume trading. Not transferring accounts, but we as clients should open new accounts over there? This is highly suspicious. For starters, we are only 8 days out from the magical October 7th grand reopening.

    There appears to be at least 1 documented yet unresolved issues with a client on this forum. Why a company that is planning to reopen would take the step of pushing clients over to another broker escapes me if they intend to reopen. There is no live chat option on the site any longer as well. I don't really care to email them, but others might.

    For this reason, I advise anyone considering moving from ForexBrokerInc to FXChoice to rethink their decision. If FXChoice has some relationship with ForexBrokerInc, and ForexBrokerInc has ignored a complaint here that is a few months unresolved; Why would anyone in or out of their right mind choose to open an account on questionable company's suggestion. This will be my judgement on both companies until the issue ForexBrokerInc has in this forum is corrected. FXChoice is just as suspicious. You are only as good as the company you keep.

    I think FBI is really out of the brokerage business and is possibly in a new IB relationship looking to profit off all the unsuspecting clients they once held. Just my hunch. What a pittance...
     
  2. FxMaster

    FxMaster Lt. Colonel

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    Heard news about it but I saw ongoing complaint about ForexBrokerInc at FPA too. According to me it will be better to think twice before you switch the account.
     
    Anomilus likes this.
  3. Pharaoh

    Pharaoh Colonel

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    I wonder if either Forex Broker Inc or FxChoice would care to join this thread?
     
    4evermaat likes this.
  4. Anthony K.

    Anthony K. Banned

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    Greetings everyone,

    We would like to join this thread and put in our two cents.

    There appears to be a great deal of uncertainty and speculation on the kind of relationship with have with the FBI. Perhaps, a bit of explanation will help clear the air.
    Here are the facts, as of this moment the FBI is one of our affiliates. When we say they are affiliates, it means that they are our introducing broker (an IB) nothing more and nothing less.

    Nobody is forcing clients to open accounts with us, they are merely suggesting this possibility.

    We must admit, however, other arrangements are being discussed with the FBI. We can’t comment on the nature of these arrangements yet because no solid agreement has been reached. Once we have more details, we will certainly share them with you guys.
     
  5. Anomilus

    Anomilus Private, 1st Class

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    Wow... Slam and Dunk! IB... And FBI will slowly pay off clients they owe with client commissions. At least they are trying to pay people off(I guess). Perhaps it is innocent on FxChoice's part but what an irk situation. Thank you for commenting FxChoice, but FBI is not off the hook until the clients here get their money they are due. I would probably keep your association with them as IB/affiliate so as to not give a wrong impression to clients.

    What assurances can you give FBI clients and other new clients that your operation is stable and they won't see a repeat of what happened to FBI?
     
    snapped2002 and Pharaoh like this.
  6. Anthony K.

    Anthony K. Banned

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    Hello everyone,

    Just to be perfectly clear, we are not aware of the underlying reasons of the situation many FBI clients have found themselves in.

    As with you, we hope that they will solve all their problems admirably, without damaging the entire industry.

    In answer to your question regarding guarantees, we can guarantee that we will treat all clients who decided to join us through FBI in the same way we treat all our clients – with care and respect. Please understand that we cannot be held responsible for what has happened to them/you in the past.

    We are well aware that it is extremely hard to convince people who have had a negative experience in the past to trade with any broker, no matter the efforts on the broker’s part.

    We are authorised and regulated by the IFSC (Licence number: IFSC/60/191/TS/16) and we do care about our reputation and our clients. This you can be sure of. On a side note, the capital adequacy requirements for this type of license have been increased to $500 000, which is already very close to the requirements for the companies regulated in the EU. We have been in business for over five years now, and we have been working hard to get to where we are right now, building our reputation. Slowly, but surely, our efforts are starting to pay off. Feel free to check out our reviews on this website, and you will see what our clients think about us. Surely, their opinions must count for something.

    In addition to our regulation, we rely on strict internal procedures to manage and protect our clients from all sorts of risks.
     
  7. Anomilus

    Anomilus Private, 1st Class

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    Well that sure is comforting... I will have to look into the regulators you mentioned. At least FxChoice has responded. I got an email from FBI about reopening trade but still no date certain. For the record I am not trying to lump FxChoice and FBI together with a broad brush, I am simply attempting to shed whatever light I can on questionable behavior by FBI. Your response is appreciated and I will look into trading with you guys if everything looms good on reviews. I hope my experience will not mimic those I have had to resolve with FBI. I will reserve negative judgment until I encounter any circumstances that warrant such. Good luck with your endeavors.
     
  8. Pharaoh

    Pharaoh Colonel

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    I suggesrt skipping the FBI IB link. If they owe you money, what entitles them to IB commissions from you?
     
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  9. Dan Herrera

    Dan Herrera Recruit

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    FBI is not returning clients money. I have $8000 with them, not profits but money I deposited with them, and they are not returning. Over a month now since I requested it and nothing. All they give you are excuses and the run around. You are getting into bed with a SCAMMER!
     
  10. Kforex23

    Kforex23 Recruit

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    I don't know if you saw my reply in another thread but I was in the same situation as you. I had half of the amount you are waiting for and did receive my full withdrawal after 6-7 weeks...I was getting the same run around you are/were getting. I completely understand yours and everyone else that is in this situation. Hopefully this give some hope to the ones still waiting for their withdrawal.
     

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