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FxSystems.com, 1LotSTP.com, 1PipFix.com, 2PipFixed.com, 4RunnerForex.com, LoyalForex.com, and NFACS.

Discussion in 'Blacklisted Folder (Unresolved Scam Cases)' started by Scam Investigations Committee, Nov 7, 2014.

  1. Scam Investigations Committee

    Joined:
    Mar 2, 2008
    Messages:
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    FPA Scam Finding
    against
    FxSystems.com
    and its subsidiaries
    1LotSTP.com, 1PipFix.com, 2PipFixed.com, 4RunnerForex.com, and LoyalForex.com
    and its claimed regulator
    NFACS.org

    We the members of the Scam Investigations Committee of the Forex Peace Army have deliberated on all the evidence available to us and have reached a conclusion. It is our opinion that...

    Sometime in 2011, FxSystems acquired 1LotSTP, 1PipFix, 2PipFixed, 4RunnerForex, and LoyalForex. Nothing out of the ordinary happened until an FPA Traders Court case was filed against 1LotSTP in December of 2013.

    There are now 3 FPA Traders Court Guilty Verdicts against the company.

    Case 1. FPA member CharisTh reported having his account at 1LotSTP suspended for claims of arbitrage. He also reported he was told that the broker could return his initial deposit or do an investigation that could result in losing even his initial deposit.

    By March, 2014 CharisTh found out that FxSystems claim to being regulated in Nevis was not correct. The company never had any such regulation. In June 2014, CharisTh found that FxSystems was claiming to be regulated by the “National Forex Accreditation Coalition Safeguard” (NFACS.org). The NFACS website was copied from the Russian regulator at Crofr.ru. NFACS appears to have been created only to provide the appearance that FxSytems and its subsidiary brokers were regulated.

    Case 2. FPA member chingzhizhu reported being unable to withdraw from 4RunnerForex by bank wire. He was unable to get the accounting department to reply.

    Case 3. FPA member QuantFX reported not being able to get a withdrawal processed by 4RunnerForex for over one month. He attempted to contact NFACS, but reported getting no reply.

    Email invitations were sent to FsSystems for all 3 cases. There were no replies. All 3 cases ended in guilty verdicts.

    Under these circumstances, the FPA has no choice but to declare that FXSystems, all 5 of its subsidiary brokers, and its claimed regulator to be scams. This ruling applies also to any other websites under the control of this company or its owners. We offer FX Systems the opportunity to have this scam finding lifted by meeting these requirements...

    1. Process all overdue withdrawals. Add a 0.5% compound interest payment for each full month compensation for any withdrawal that been delayed more than 2 months since the initial request was made by the client.
    2. Register with a real regulatory agency and publish links to its regulation on all of its websites..
    3. Publicly apologize for false statements about being regulated in Nevis and for setting up its own fake regulator.
    4. Never again threaten to confiscate a client's initial deposit if the client appeals a claim of cheating lodged by the broker.
    5. Process all withdrawal requests in a timely manner.

    FxSystems, 1LotSTP, 1PipFix, 2PipFixed, 4RunnerForex, LoyalForex and NFACS are all hereby blacklisted by the Forex Peace Army. We urge traders not to do business with any of these companies or with any company associated with them. Based on the available evidence, we feel there is no choice but to label them all to be scams.

    Since all websites known to be associated with these companies have gone offline, we urge traders to be alert to new websites they may create.

    Discussion Thread for this Scam Finding

    CharisTh's original complaint against 1LotSTP and FXSystems

    CharisTh's Traders Court case against 1LotSTP and FXSystems

    Chingzhizhu's original complaint against 4RunnerForex and FXSystems

    Chingzhizhu's Traders Court case against 4RunnerForex and FXSystems

    QuantFX's original complaint against 4RunnerForex and FXSystems

    QuantFX's Traders Court case against 4RunnerForex and FXSystems

    FPA Review Page for FX Systems (has links to the review pages of all the other brokers involved)
     

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