FPA Scam Finding
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...
Other than not giving consistent answers to the FPA about whether or not they accepted US clients, Forexoma was a well-rated company. There was no warning of any problems. In July 2013, the FPA began getting reports about withdrawals not being processed and the company not responding to client questions.
This progressed to the website going down and then the MT4 server shutting off.
The FPA tried to contact Forexoma by several methods and could get no reply. As far as we can tell, the company is gone along with the money belonging to traders.
Forexoma was founded by Vahid Chaychi. He later claimed to have sold the company, but no clear idea of who the new owners were was ever communicated to the FPA. Clients also report having no information about this. The FPA does not know if Vahid Chaychi had any financial interest or control over Forexoma at the time the company disappeared or not.
There are 4 FPA Traders Court Guilty verdicts against HFX over this issue. All tell the same story of the company failing to respond to withdrawal requests or any other form of contact.
Failure to return money legitimately owed to traders is the FPA's first definition of scam. Forexoma has disappeared with the money of many traders.
Under these circumstances, the FPA has no choice but to declare that Forexoma.com is a scam broker. This ruling applies also to any other websites under the control of this company or its owners. We offer Forexoma.com the opportunity to have this scam finding lifted by meeting these requirements...
1. Return all client money immediately. Add a 0.5% monthly compound interest payment for each full month starting on August 1st 2013 as compensation for taking the money of traders.
2. If the company intends to resume business, contact email addresses and phone numbers must be displayed on the Contact Us link. The full names and nationalities of the owners and directors must also be made available on the website.
Forexoma.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 recover all funds as quickly as possible by any legal means. We also recommend that you file complaints with the authorities.
Discussion Thread for this Scam Finding
FPA Traders Court Case 1
[Original Complaint Thread for Case 1
FPA Traders Court Case 2
Original Complaint Thread for Case 2
FPA Traders Court Case 3
Original Complaint Thread for Case 3
FPA Traders Court Case 4
Original Complaint Thread for Case 4
FPA Review Page for Forexoma.com