1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

FxOpen-more bad news

Discussion in 'Scam Alerts' started by Vettah, Mar 14, 2008.

  1. Vettah

    Vettah Private

    Joined:
    Mar 14, 2008
    Messages:
    11
    Likes Received:
    0
    I too am being scammed by fxopen. It's been a month and they won't say much- it took a month for them to respond to tell me that in their opinion I'm practicing Arbitrage. Sounds lovely, huh? They won't give me any info, any time frame only my account is under review. I am a part-time news trader with a full time 40-50 office job. As any of you know it takes intense commitment to be up several times a night and report to a day job at 8AM. My story: With foreign brokers I've always said I will only deposit what I am willing to loose on a potential scam. I did get one withdrawal of profits covering that initial deposit, but the following three months of research, getting up for every trade, running to work, running to the library & internet cafes on lunch breaks to trade and all that effort is being stolen away. Several thousands of dollars. My original theory of only deposit what you are willing to loose was falable. I didn't account for the heartache of loosing three months of tenacious commitment. These guys are a bucket shop. Don't take my word for it-go to their own website and read their own forum, then try calling the us phone number on their site, then try the UK. See what happens and save yourself some heartache and headache. I wish you all great success and fair brokers.
     
    #1 Vettah, Mar 14, 2008
    Last edited: Mar 14, 2008
  2. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,591
    Likes Received:
    2,176
    I would definitely start demanding a more detailed explanation as well as the return of any and all funds that don't meet whatever arbitrary definition of "arbitrage" they are using.
     
  3. Vettah

    Vettah Private

    Joined:
    Mar 14, 2008
    Messages:
    11
    Likes Received:
    0
    Thanks Pharoah,
    I've started drafting a a note, but am stubmling. This broker does such a phenominal job at simply ignoring you that I struggle as to takign an aggressive tone with them, or a innocent tone. Any suggestions there?

    Once I advance form Private status I will submit the situation to the new Peace army scam service in hopes they will assist me. I'm half way there, I am doing my best to add quality to the forum, rather than replying to 10 posts if you hear me. I find value in all of this, and wish to contribute to that.

    Thanks again for the suggestions.
     
  4. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,591
    Likes Received:
    2,176
    Check out the example email I gave in the Crown Forex thread. It's designed to be firm, but not too abrasive.

    http://www.forexpeacearmy.com/forex...-forex-sa-not-just-scammers-plain-thiefs.html

    Repeated emails with a reasonable deadline for response in place, along with obvious CC's to one or two of your own email addresses, they shouldn't have to be rocket scientists to figure out that you are building up a stockpile of evidence that can be used against them later. They still might not be cooperative, but will know that ignoring you under those circumstances will be to their own detriment.
     
  5. Vettah

    Vettah Private

    Joined:
    Mar 14, 2008
    Messages:
    11
    Likes Received:
    0
    I sent of the email below just a few minutes ago. Sometime in the past couple days they disabled my account and my login to my account info on thier website no longer works. I have not recieved any e-mails nor voicemails regarding this action. I am desperate for help. Below is my e-mail

    Dear FXOpen

    I have been trying to withdraw funds since Feb 22, 2008.
    There have been several requests made but still have not received my $9500.00 back. I did my best to communicate with FXOpen. Your USA and UK phone numbers did not work. I sent several e-mails asking why my withdraws were not being processed. It was not until March 20th that I received the response. I've been told my account is under review and I have been wrongly accused of Arbitrage. I can prove that I have not been trading in an arbitrage manner. There have not been any opposing positions, nor multiple positions open on my trades. I wanted to discuss this, but fxopen would only respond that you are reviewing the account and will notify me when it's done. I believe you have had a reasonable amount of time to resolve these.

    And now my account had been disabled, and my login to access the trader cabinet blocked. And you have not e-mailed or left me any messages regarding this.

    I would like to cooperate with fxopen and would like fxopen to begin to cooperate with me. I will be posting my situation on forums to notify fellow traders of the circumstances, but I will gladly remove them as soon as fxopen deposits my funds to me. I will also be investigating all resources available to me to assist me in resolving this unfortunate incident.

    Please email me back to confirm that the money will be in my account within 10 business days of today, on April 10th, 2008.

    I will let you know as soon as I receive it.

    Patricia Huefner
     
  6. Vettah

    Vettah Private

    Joined:
    Mar 14, 2008
    Messages:
    11
    Likes Received:
    0
    the response to my letter below. I now have neough posts so I will submitt to the Scam
    Resolution Center. Talking to them is like talking to a wall - this is all they ever say, they won't answer any questions.
    ----------------------------------------------

    Hello,
    your account puted on hold due arbitrage trading. Our compliance
    department checking your case.

    --
    Best regards,
    FXOpen Customer support mailto:monarch@fxegypt.com
    FXOpen - Forex, mini & micro forex broker, online forex trading, forex exchange
     

Share This Page