Fox Trading Ltd. a scam ?

bakuman82

Recruit
Messages
1
Hello FPA,

the Fox Trading Ltd. is a company located in Hong Kong, with a office in Austria. Its offering Managed Forex Accounts and some Trading Software.
Here is their website: www.fox-signal.hk/index.php

A friend of mine here in Germany have become a client of this company 3 months ago. They manage his account and made since then a good perfomance.
First he gives then 3000 Euro, after a few weeks 10.000 Euro, and up to date he has 50.000 Euro there.

A few days ago, i read about scamer of managed accounts in forex market, and to watch out about some things like the location of the company, or some regulations. I think of my friend, and then i tried to find some informations about that company in the net, but found nothing! Not a single site about some previews or tests. The Homepage adress of Fox Trading Ltd. was send to me by my friend, because you can not find it at google.

I tried to call and email some regulatory authorities like BaFin here in Germany or FSA in london, to find something about FT, but i couldn't get some answers.
My friend is now a bit nervous, and now he want so make some withdraw of his money. A few hundreds Euro were not problem. But i don't know with bigger amount.

Maybe some of you have some experiences with this company, and can tell me more. Maybe theres nothing wrong with them, but if there is, than i hope i can help my friend and warn other people about that company.

Best regards
 

FxMaster

Lt. Colonel
Messages
9,156
Well, you can`t raise your finger to anyone like this. ask your friend to make withdrawal (Big one) first and lets see what happen.
 

shortsight

Recruit
Messages
5
fox trading ltd hong kong .This company registered during dec 2013 only as private company , not described as fx traders.Can they legaly take money off public and give more back, have they a licence to trade ? money laundering laws may be violated if they were not accountable,would some fsa authority be interested who gives more money back than what was given ?.keep in touch via forum of your friends results . i will dig deeper.
 

Pharaoh

Colonel
Messages
19,844
Testing a withdrawal is a good step.

Then again, the website shows that they sell signals. Did your friend deposit with them, or did he put money with a different broker?
 

FXWarriory

Banned for uncivilized conduct
Messages
373
Can a Hong Kong FPA member tell us about the truth behind its physical address?
Fox Trading Ltd.
Suite 1101,
On Hong Commercial Building
145 Hennessy Road, Wan Chai,
Hong Kong
 

Pharaoh

Colonel
Messages
19,844
40k results for "On Hong Commercial Building
145 Hennessy Road, Wan Chai"

Multiple business in 1101, including TradeIndia, Simms Fishing Products, OceanPro, Henderson Aquatics, WorldCarnivalEvents, etc., etc.

I'll wager it's just a virtual office.
 

slchoong

Private
Messages
12
This is definitely a scam. I have sent them £1,000 for testing their service. I was happy with the return they have generated so they have asked to send them £10,000. I was going to send it to them but luckily I have changed my mind later. I have asked them to return my £1,000 I have sent them last week. They have sent me an email and informed the money has been returned to me on 25 August. As of today I haven’t seen the money in my bank account and I have been unable to contact them on their email address nor HK and UK phone numbers.
 

krishen

Recruit
Messages
9
Hello FPA,

the Fox Trading Ltd. is a company located in Hong Kong, with a office in Austria. Its offering Managed Forex Accounts and some Trading Software.
Here is their website: www.fox-signal.hk/index.php

A friend of mine here in Germany have become a client of this company 3 months ago. They manage his account and made since then a good perfomance.
First he gives then 3000 Euro, after a few weeks 10.000 Euro, and up to date he has 50.000 Euro there.

A few days ago, i read about scamer of managed accounts in forex market, and to watch out about some things like the location of the company, or some regulations. I think of my friend, and then i tried to find some informations about that company in the net, but found nothing! Not a single site about some previews or tests. The Homepage adress of Fox Trading Ltd. was send to me by my friend, because you can not find it at google.

I tried to call and email some regulatory authorities like BaFin here in Germany or FSA in london, to find something about FT, but i couldn't get some answers.
My friend is now a bit nervous, and now he want so make some withdraw of his money. A few hundreds Euro were not problem. But i don't know with bigger amount.

Maybe some of you have some experiences with this company, and can tell me more. Maybe theres nothing wrong with them, but if there is, than i hope i can help my friend and warn other people about that company.

Best regards
Hi,

I am in similar situation as your friend. I have invested £10k with them recently. As of today unfortunately I cannot access my account though, also when try to call them there is no respond. Could you find out if your friend has same experience? I am afraid that more likely than less I have lost my investment to a scam :(.

Warm regards
 
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