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FX Systems - (Loyal Forex division) is a scam !

Discussion in 'Scam Alerts' started by CHENG Hao, Jul 28, 2014.

  1. CHENG Hao

    CHENG Hao Private

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    I have been trading with Loyal Forex since Nov 2011 when FX Systems took over it. Finally I have made some small profits. After some deposits, I became a VIP trader with a so called dedicated account manager named Alex.
    Everything started to change since my withdrawal request in this June.
    - 8 June. I requested to withdraw most of my balance. On the same day, there was a reply from FX Systems saying that they have received the request and they would follow up.
    - 17 June. There still no progress. I updated my ticket and tried to reach my VIP account manager. FX Systems just ignored my ticket, and my VIP account manager disappeared.
    - 19 June. I requested for full withdrawal instead of partial.
    - 20 June. After many tickets and complaints and warnings to FX Systems, their account department replied me and told me my account was red flagged for suspicious activity, and it might have been a mistake. I replied and asked for more details and by when it could be solved, no reply from their account dept.
    - 21 June. I submitted a claim on NFACS.org.
    - 23 June. FX Systems sent me an email from a Gmail account telling me that they were conducting investigation into their accounting department, and asked me to wait. I requested them to process my withdrawal before they do their own internal investigation.
    - 24 June. FX Systems replied and asked me to wait again, no specific date was given. On the same day, NFACS replied and acknowledged they received my claim against FX Systems, and told me they would investigate.
    - 3 July. NFACS replied that initial investigation was done and FX Systems had reasonable excuses, more time was needed for further investigation.
    - 5 July. NFACS replied saying the investigation was completed and FX Systems admitted to owing me money. They advised me to open OKPay account and FX Systems would make first payment to my OKPay account. I opened OKPay on the same day.
    - 9 July. I received USD $ 6000.00 from FX Systems. After that, there was neither any further payment from FX Systems nor any news from NFACS.
    - 26 July. NFACS replied and mentioned they did not get any answer from FX Systems regarding next repayment date, I have to wait again.

    To summarize:
    1. FX Systems just ignored all my emails and tickets since NFACS started the investigation.
    2. The legitimacy of NFACS is questionable. As a private organization without any office phone number, they have no authority of regulating broker.
    3. Other scam signs such as
    a. FX Systems company address is a PO Box in Saint Kitts n Nevis while their office number is from London.​
    b. FX Systems still claims that they are regulated under Nevis financial services while Nevis financial services already issued warning on their website that FX Systems was never regulated by them.​
    c. FX Systems never gives clear answer when they are asked “Will you allow your client to withdraw the profit?”​

    If you don’t believe this story, just try requesting to withdraw everything and see if FX Systems lets you have it. Maybe you have better luck than I do.

    I will update you guys once I receive any response from FX Systems or NFACS, hopefully.

    PM me if you are also one of the victims, we shall unite and fight them.
     

    Attached Files:

  2. Pharaoh

    Pharaoh Colonel

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    How much money is still pending withdrawal or sitting in your account?
     
  3. CHENG Hao

    CHENG Hao Private

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    They still owe me USD $ 17120.69. You can find it in my attachment, sir.
     
  4. CHENG Hao

    CHENG Hao Private

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    I sent emails to FX Systems & NFACS, no one replied. They probably are sitting together counting the money they scammed from us now.
    FX Systems still keep sending me their bull**** bonus offer. They want to scam more people, traders do be extremely cautious ! If you are going to open account with FX Systems, STOP ! look for a reputable and government regulated broker, there are so many good brokers out there. If you already have account with Fx Systems and deposited, withdraw immediately ! I really pray for you that you would get all your money back.
    I am not the only victim here, some other victims scammed by FX Systems already posted scam alert or court case here.
    Again, stay away from this scammer Fx Systems !
     
  5. stevesmain

    stevesmain Sergeant

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    This needs to be fast tracked to a vote!
     
  6. Pharaoh

    Pharaoh Colonel

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    That may prove unnecessary. There's a 3rd case against FxSystems being voted on right now. Unless it comes back as Not Guilty or one of the prior cases gets resolved by the end of the week, I have a feeling that there will be a Scam Finding against the whole group under FxSystems next week.
     
  7. stevesmain

    stevesmain Sergeant

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    three strikes .... their out!
     
  8. FxMaster

    FxMaster Lt. Colonel

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    Can you please send one invitation to them about this thread ?

    And tell them that response here or you will open case against them.

    Also leave one star shining review here about them FX Systems | Forex Brokers Reviews | Forex Peace Army
     
  9. CHENG Hao

    CHENG Hao Private

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    I have just sent invitation to all the email accounts that I know, as well as left one star on FX Systems review page.
    I doubt that these scammers would bother to come here and type some words.
    Invitation for FX Systems to respond to scam alert on FPA. Invitation for FX Systems to respond to scam alert on FPA_2.
     
  10. Pharaoh

    Pharaoh Colonel

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    I doubt it too, but it's best to give them a chance to fix things.

    Gather up as much information about your account as possible. File a report with econsumer.gov - Your site for cross-border complaints.

    Depending on what country you are in, there may be an option for reporting online financial fraud to your national police. Ask around. If you find out about such a thing, share the information here.
     

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