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
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.
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.
