Fx sumrin -A scamming company...

mb2491

Recruit
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3
Hello,

I gave this Company to manage my account and they blown up my $5K account . The owner of this company is Abdullah Sumrin , he is from dubai...I gave my account to this company on 16 July 2012 after month they made profit of 20% in my account....But when i saw my account after one month..The trades were taken was with high lot size...They were using 1 lot on $5K account to trade Gold...At that time i warned them ..that dont tade with high lots....I want safe trading on my account...And as there website they say to take only 3-5% risk on each trade..but it was not in my case...When they started trading second month...they blow my account by 50% ..i got shocked to see they made $1800 loss in single trade ...the risk taken was too much high on my account ..I have detail statement proof and also chat proof on skype ...Now today i saw...there is only $1 left in my account....I contacted them today on skype and i was shocked to see that they block me from Skype and didnt responded anything...This shows clearly that they scammed me... I want FPA to recover my loss from him or atleast make his website close...I have his phone number 00962795695499 ..i msged him but he didnt responded ..i called him but he didnt responded...Please FPA help me in this matter...

DO NOT INVEST HERE !!


Moderation Team Note: Please don't post links to the Case Preparations Folder. That is only accessible to a limited number of FPA members.
 
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1. Did you sign an LPOA? If not, let your broker know about this. Almost all brokers will block an account manager who doesn't get an LPOA before trading a client's account.

2. With or without an LPOA, tell your broker. Better brokers will sometimes block a trader who blows out accounts like this. Show the statement to the broker and request information on what IPs were used to enter, modify, and exit those trades.

3. Go ahead and sent an email to Abdullah and give him a link to this thread. Invite him to explain himself.

4. Was he serving as the IB to your brokerage account? If so, the large trade sizes could be deliberate churning of the account to generate IB commissions.
 
1.No,I did not sign up LPOA ,I gave him my account login details and he was trading on Exness mt4 platform.I am not sure if he is having any of his personal account on Exness so they can block his account.
2.I will ask IP's which were used to trade my account.
3.He will not explain anything...As if he wanted me to explain anything he would have not blocked me directly on skype without having a word with me....Than to i will send him mail about this thread.
4.No he was not IB.
 
Notify Exness immediately. It doesn't matter if he trades his own account there or not. Warning Exness about these activities will help to stop him from doing this to other people.

Let's give him a day or two to post a public explanation here. If he doesn't, that alone will say a lot about him.
 
Hi,
My name is sadabkhan afridi and i have invested with FXSumrin in pamm account system of hotforex. My pamm account number is 63291 and his name in my pamm fund manager is FxSumrin(57977). I have signed up with LPOA with him in hotforex. I have reported same issue to hotforex as well. Sumrin has blocked me on skype and he is not giving me any reply. He was telling me that he does not take more than 5% risk of each trade, But when he stated trading he was takinLPOA1.jpgLPOA2.jpgLPOA3.jpgg more than 10% risk on each trade. Withing 20 days he has blown my $3100.00. He is not replying me anything not on his website as well. His website is FxSumrin and his email is managedaccounts@fxsumrin.com.
I have uploaded the scan copies of LPOA. Please have a look on that documents.

Regards From
Sadabkhan.
 
1.No,I did not sign up LPOA ,I gave him my account login details and he was trading on Exness mt4 platform.I am not sure if he is having any of his personal account on Exness so they can block his account.
2.I will ask IP's which were used to trade my account.
3.He will not explain anything...As if he wanted me to explain anything he would have not blocked me directly on skype without having a word with me....Than to i will send him mail about this thread.
4.No he was not IB.

God, How do you people give anyone your login details to trade your accounts without any agreement like LPOA?:confused:

Did you find your money on the road or somewhere by accident to use it this carelessly:mad:

Legally, hope is not much with no agreement, no name no address nothing!!!

I think many cases like this had passed through FPA threads that other than the Broker or Companies or account managers Big Scams, the client himself hold a big responsibility of being cheated!

FPA can help in giving the spotlight and warning clients from Scam Companies but can't teach people right attitude and behavior or communication with others!!

Sorry for the offensive sentence 'there are many thieves and cheaters because there are also many jackasses'
but because it really hurts and makes you :mad: when you see people falling in same **** mistakes that only needs little awareness during making business to avoid or better save your earnings in a bank or under your pillow but remember not to tell anyone:confused::p.
 
Sadly, many people don't understand the implications of turning over their passwords without an LPOA.

Even with one, most brokers can't or won't stop the manager from trading like a drunken monkey in violation of the terms of any agreement. At least it requires the manager to be identified by the broker - makes blocking them later a little easier.

Now for a PAMM account, HotForex will have the guy's ID. That should make shutting him down there a lot easier.
 
Here is the conversation of sumrin and me and he really accept that he was taking more than 10% trade in each trade. He told he will take care of it and after that he blocked me.You can look at the conversation that he is accepting the risk he has taken and he will make some changes in that but after that he blown my account and he blocked me and not giving me any reply.
New Bitmap Image.jpg
 
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Hello afrid009,
You must must must learn from your experience the unfortunate reality that not all in this world can be trusted.
Just as for a virgin on her wedding night, the next morning you are no longer an innocent.
Be most careful in whom you trust.
Read and study history before leaping wildly into unknown, shark infested waters.
Remain in a quiet learning state, until you more fully understand what you are dealing with.
We are here to help, but you must be the first guardian of your own assets.
.
Anthony Ingrassia, CTA
 
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I have contacted the hotforex regarding this but they are not ready to help me. I told them that person sumrin has blocked me from skype and not giving me reply on hi website as well. But still they cant help me in this issue. I had an agreement with LPOA with him on hotforex. Hotforex is not giving me any information regarding this.
 
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