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Fxglory dubious intentions?

Discussion in 'Scam Alerts' started by Chaosbegone, Jun 4, 2019.

  1. Chaosbegone

    Chaosbegone Private, 1st Class

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    I've had some trades ongoing for over a year with FxGlory.
    I have emails from when i first registered asking about their negative online reputation and i was assured over and over again that it was just either competitors leaving negative reviews ... or disgruntled customer that broke their Terms and Conditions.

    The issue i'm experiencing is: I closed one order 31/05/2019 and made a withdrawal. It's been pending since.
    A couple of hours after i tried to login in via mt4, Account is now reading as disabled.

    I've asked support and someone has rung up to explain why my account is under investigation but it makes absolutely no sense. "something like they have different providers ... and provider can't find trade order. But don't worry it will all work out"

    So far they've been nice/respectful over email, chat and phone. So I'm not making any accusations and will leave a review detailing my exact experience with this company...
    But I've also decided to be proactive and catalogue what is happening on this public forum ... just in case my worst fears are realized since I have at least 19 other open trades which are currently profitably. I made sure when i registered not to use any of their bonuses ... and i kept my interaction with my trades to a minimum - meaning i just opened a couple of trades one after another and since then i only been monitoring the trades for a year.

    I've periodically taken account history from mt4 for my records since FxGlory does not send account statement and have attached them below...
     

    Attached Files:

  2. Chaosbegone

    Chaosbegone Private, 1st Class

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    I've been sent the following email/questions to answer from FXGlory. My answer is an emphatic No to all the questions below.


    Dear Sir

    Following our talk on the phone yesterday, As I mentioned I need to gather all the facts in order to be a good defender of the account holder in the following board meeting.

    Would you please write me an email and mention your point of view about below questions?

    -Did you do scalping in your account as a usual trading style?

    -Did you use your account as a non-owner and trading as a third party in the MT4 account?

    -Did you open trade while the balance was negative in your account?

    -Did you hedge with another account?

    I need it to attach those answers to my case and telling the board about your point of view in all actions which may not follow user-agreement.

    --

    Regards,
    Andrew
    Online Forex Brokerage

    FxGlory L.T.D
    Office Address : Postal Code 0160, Kazbegi 24, Saburtalo, Tbilisi, Georgia, FXGlory LtdSupport Phone :+995 514 000 000
    Website : fxglory.com
     
  3. Chaosbegone

    Chaosbegone Private, 1st Class

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    I didn't understand the relevancy of questioning from FxGlory. How suddenly closing down a trade and trying to make a withdrawal makes me the account holder require "defending" from some kind of ...board.
    There is absolutely no way i could have broken "any" of FXGlory Terms and Conditions. I never touched their bonus deals. I registered for an FXGlory account, verified my account, then opened some trades. Some were losses and the once that were successful i let accumulate profit.

    Anyways i answered their questions (below) and received the response about " Thank you for your reply. I will be in contact as soon as I receive the provider's detailed report and will let you know for sure ".

    Provider's report??!!! What in God's name is that?


    Dear Sir

    Thank you for your reply. I will be in contact as soon as I receive the provider's detailed report and will let you know for sure.


    On Tue, Jun 4, 2019 at 7:11 AM Dorian Gryffyn wrote:

    Dear Andrew,

    I don’t really get this. Just like I mentioned on the phone I have done absolutely nothing as an account holder that requires defending.

    I have not breached “ANY” of your terms and conditions

    And The answer to all your questions below is an emphatic NO.

    And here are the reasons why:

    1)When I opened the account, I immediately informed yourself that I’m a long term trader and that is how I will use the account.

    Scalping is for losers and no serious long term trader will ever use that. It’s one of the fastest ways to blow up your account. My trading style uses primarily Elliot wave and good money management skills.

    2) This is an account for me and No-One else.

    3) Have never done that. It is impossible to open a new trade if your balance is negative! Again Impossible.

    4) I know what it is BUT I have never used it with another account. I don’t know how to use it with another account … and I DON’T want to use it with another account.

    The “only” trading strategy I know how to use is “ELLIOT WAVE THEORY”… some Ichimoku and chaos theory. That’s it.

    So again the answer to all of your four questions is NO. NO. NO. NO.

    Best regards

    Dorian
     

    Attached Files:

  4. Chaosbegone

    Chaosbegone Private, 1st Class

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    From: Fxglory Company
    Sent: Wednesday, June 5, 2019 2:53 PM
    To: Dorian Gryffyn
    Subject: Re: Account #48710


    Dear Dorian

    As I explained by phone, we did receive an alert from one of the providers which indicate your request for closing a trade refers to a trade which does not exist with them. We had to obey the provider's procedure in this case and disabling account in order to have a detailed investigation on it.

    I am waiting for the provider's detailed report and then I will bring my investigation and provider's as well to board meeting and I will inform you about any step in this procedure for sure.


    On Wed, Jun 5, 2019 at 2:40 AM Dorian Gryffyn wrote:

    Dear Andrew,

    Thanks for that. For both our records can you please write me an email explaining exactly why my account was temporarily disabled – Something about a provider right?

    It was extremely hard to hear over the phone.

    Also the markets are extremely volatile. Can you please remove the account disabled so I can continue to view and monitor my trades via metatrader?

    I would really appreciate it. The withdrawal pending isn’t that important but monitoring how the markets can shift with regards to one’s actual trades is very very important.

    Thanks
    Dorian
     
  5. Chaosbegone

    Chaosbegone Private, 1st Class

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    Hello Dorian,

    Thanks for your prompt response.

    According to your reply,

    In order to fully restore your trading account and making it clear for withdrawal as soon as possible, please confirm that we are authorized to remove any orders if opened under the below conditions.


    Illegal methods: Scalp trading, Hedging with another account, Opening order with negative balance


    After your confirmation, accounting team will check with liquidity provider and apply required actions if needed and then fully restore your account in next hours.


    Regards,
     
  6. Chaosbegone

    Chaosbegone Private, 1st Class

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    I'm just pasting the emails i¨m getting from FXGlory. From they can't find one order i made. They are now making wild and baseless accusations and are trying to dismiss all my trades.

    They are now saying if you agree for us to dismiss your 19 other trades worth about 8K each, we will re-enable access to your account. It sounds like they are going to close my trades down. And move the money away from my account.
     
  7. Chaosbegone

    Chaosbegone Private, 1st Class

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    This is my response to the lastest from FXGlory:

    Dear Andrew,


    Thanks for your prompt reply. There is something worrying about all this. What is your position/title at the FXGlory company? Can you please call me up as I requested.

    A few review sites, boards and others are also tracking how this plays out. As I mentioned earlier I’ve been recording my trades since joining FXGlory.


    Do not remove any of my orders.


    Again I did not open any orders using any illegal methods.


    It shouldn’t take days to confirm this. Again please DO NOT close my trades down so that the money can be moved out of my account.


    Best regards,

    Dorian
     
  8. Chaosbegone

    Chaosbegone Private, 1st Class

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    You will not believe what i was sent!!!

    Thanks for your reply.


    Unfortunately we cannot restore your account without solving this issue.


    There are only 2 conditions:


    1- You did not open any orders using mentioned illegal methods and your account will release and fully restore without any problems.
    2- You did open one or some orders using the mentioned illegal methods and some changes will be applied on those orders.


    So, you cannot answer : "I did not open any orders using any illegal methods" and "I do not authorize you to apply rules if I did open using illegal methods" .

    We ask you again, if you did open using one of those methods, please mention them, if you did not, just authorize us to apply the rules if you did.


    Thanks for your understanding.
    We are waiting for your logic answer.


    Regards,
     
  9. Chaosbegone

    Chaosbegone Private, 1st Class

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    I replied ....


    Dear FXGlory Accounting Department (accounting@fxglory.com), Homi Mildiani (homi@fxglory.com), suppport@fxglory.com, theodore@fxglory.com, andrew@fxglory.com


    First half of FxGlory accounting question:

    We ask you again, if you did open using one of those methods, please mention them.


    My answer: I did not use of those methods, so nothing to mention.


    Second half of FxGlory accounting question:

    if you did not, just authorize us to apply the rules if you did.


    My answer: What?! Again I did not. You’ve investigated for a week so you know I have not used any illegal methods. Please stop making illogically demands of me.

    Also if a client broke your terms and conditions, why do you need his permission to apply the rules?!! Super Highly illogical and suspicious.


    The reason why I’ve requested a call back several times over the past two days is that I’ve also been asked to leave reviews detailing my experience.

    I’ve been very patient. You’ve had one whole week to solve the issue. I can’t hold off any longer. How much longer do you need?
     
  10. Chaosbegone

    Chaosbegone Private, 1st Class

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    Again for those new to this scam alert thread on FXGlory the story is ...

    I opened up several GPBUSD sell orders between April and May last year 2018. The trades are still running and the account is 174,000$ in total profit @ 1.2675 (GbpUsd)

    I closed one of the trades 31st of April 2019. And made a withdrawal. A week later that withdrawal is still pending. And my account was disabled. Furthermore I’ve received some weird and disturbing communication from people that say they are representing FXGlory accounting department. No title, position, real phone number or full name listed in the communications.

    The disturbing communication I received from Andrew in accounting :
    " FXGlory received an alert from one of the providers which indicate your request for closing a trade refers to a trade which does not exist with them. We had to obey the provider's procedure in this case and disabling account in order to have a detailed investigation on it. I am waiting for the provider's detailed report and then I will bring my investigation and provider's as well to board meeting and I will inform you about any step in this procedure for sure. "

    But the trade closed down immediately at the right price and the funds went straight into the account!!!

    This sounds like the exact reason they've used in the past to take clients profits. Their support/technical department confirmed that ofc that kind of error would never escape them. Or else they would lose money as a broker. So no technical issues, yet it is being brought up to some kind of board vote??!!

    Rather than waiting for the same thing to happen to me, i contacted ForexPeaceArmy and opened a scam alert immediately and left this review.

    Then point blank this person that claims to be "defending my account" to board members sends a message asking me to write an email on my view on the following ...scalping, trading as third party, trading with negative balance, hedging. None of which applies to me.

    Holding my account hostage, i was then told the fastest way for my account to be re-enabled is by giving my consent to remove any illegal trades it might find! It follows:
    "After your confirmation, accounting team will check with liquidity provider and apply required actions if needed and then fully restore your account in next hours"

    Oh my! Is it just me or does it sound like they are trying to remove my profits before enabling my account.
    If the trades are illegal, then why do they need my permission?
    If the trades are illegal why do they have to check with liquidity provider before closing?
    What does this sound like to anyone reading?

    p.s. I've never traded news events. I didn't use any of their bonuses. I've never scalped. I've never hedged with another account. I never traded during periods of low liquidity etc etc. Basically not broken any of their Terms and conditions. All i've done is just traded by entering the market when i believed a new trend started over a year ago.

    Homi Mildiani (homi@fxglory.com) was the one who welcomed me to the company. Answered my questions on FXGlory dodgy reputation online. She convinced me FXGlory was reputable. That the reviews were mostly fake. She said it was just competitors and disgruntled traders who either lost their money or broke terms and conditions. She is now silent to all my entreaties and communication as this happens.
    Although i haven't been stitched up yet. The current experience is still enough to leave a stinging review. Hopefully they can do better, sort this out immediately so that they can have one real customer that can say something positive about FXGlory.
     

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