FxSystems ltd. - 4Runner Forex: Not processing withdrawal request

QuantFX

Recruit
I have requested a full withdrawal on my 4runner forex account on the 1st of june and it is still not processed.
- I have opened several tickets requesting information on the status of the withdrawal. The tickets where ignored until I chatted with their helpdesk operators. The helpdesk operator told me that they were going to raise the priority on the issue at their accounting department. My ticket was reopened, a reply was added by an admin saying that I should have some patience. But again, nothing happened afterwards for the next two weeks.
- I replyd to the ticket, but it was again ignored, so I went back to helpdesk (11 july). Another operator told me again that the priority would be raised and that I could send an email to the accounting department myself. The operator would not provide me any Phone number to the accounting department or give me someone in charge to speak to. They also failed to disclose any information on the procedure to file legal charges against the firm.
- I sent an email to the accounting department yesterday, I'm still waiting for a reply. I am now fully convinced that they will not process my request without some external/legal intervention.

In attachment:
- 4Runner Forex - Metatrader Balance --> a screenshot of my 4runner forex metatatrader live account. Shows valid login date (12 july) + balance
- 4Runne Forex - Ticket Service (main email address).png + 4Runner Forex - Ticket Service (second email address) --> Shows screenshots of some tickets. The "second email address" is not directly linked to my account. The reply on the main address ticket on 27/06 occured after my first conversation with the help desk.
- 4Runner Forex - Helpdesk Chat 11 July 2014 (2nd chat).png --> I logged a large part of the conversation that I had with the help desk (11 July). At the end the chat started to glitch and I lost some messages. Order of the screens is from left to right, top to bottom.
- 4Runner Forex - Mail to accounting department.png --> The mail that I sent to the accounting department (11 July). It also shows the initial confirmation that they received my withdraw request, first of june. I am still waiting for a reply.
- 4Runner Forex - NFACS Complaint.png --> I sent an email to the NFACS asking them if 4runner forex is regulated with them. According to the 4runner website they are regulated by this organisation. (However, I have just read a review on this website that states that they are not regulated and just lied about it.) EDIT: this file is not attached since I can only upload 5 files per post.


If this issue does not get resolved during the next week, is there any possibility for me to perform any legal actions? I am willing to hire a lawyer for this and would like some advice on how to proceed.

Thanks for the help.
 

Attachments

QuantFX

Recruit
Update 14th of July:
I just called their office number which was just another "help desk". The first time I called and mentioned my name and said the word "withdrawal" they just hung up on me.
The second time I called, their story was exactly the same as before.. they were going to raise the issue at their accounting department... They can only be contacted through the emailaddress that gives no reply.. etc. They have no legal office and their managers can not be contacted. I told them my next replys were going to be through legal agents and police.

At one point, the operator even had the audacity to tell me "Just mail our accounting department.. we are working in circles here" when I didnt back off. When treatening legal action she didnt seem to care: "Yeah, you do that". They just hung up on me.

Please update the status to SCAM as soon as possible before other people get caught. The reason I funded money with them in the first place was because they had good reviews here before 2014.


I am going to call my local police department to file a complaint. I am wondering if I can perform legal action internationally in some way? I am willing to pursue this further. I only had about 2k stored there, this small amount doesn't bother me that much. However, I am seriously p*ssed off that people do this! I am willing to pursue this further, out of principle.

Any input on what the correct course of action might be to find these people?
 

QuantFX

Recruit
What country are you in? Your legal options may depend on your location.

How long ago did you deposit? What method did you use?

Are you willing to file an FPA Traders Court case?
Update 15 July: I just called the Financial Services Regulatory Commission, Nevis Branch (The helpdesk operator from fsxystems told me that they were regulated there). I asked about fxsystems ltd and they told me that the company was indeed registered in their country. I said that I wanted to file a complaint against the company and then they said "hold on".. I got a beeping tone and nothing happened. When I called back the line was rerouted.. to myself. I heard myself talking as an echo in the Phone :s The other so called regulatory commission on their website has not replied back; Pretty sure it is also a scam. They do not have a Phone address listed.

I am from Belgium. Apparantly we have a Saint Kitts and Nevis Embassy here in Brussels; I will try to call them this week. I was planning to call the Nevis police department as well. However, another trader already tried that and they told him to contact local police first. Any idea if local police in Belgium can help?

I made the deposit around march 2012. I remember that they sent me their bank account details but the transfer did not go through so eventually I believe I used a credit card to make the deposit; I still have the bank account details that they sent me and will investigate if legal authorities can use this information to track them down. I also have some old messages of them giving me IP addresses (to test my latency from my vps). They told me that that their servers were hosted in the famous NY equinex data centers. I don't know if it is true or not. I will call the US equinex company and check up on that as well. Hopefully they can provide information on the people behind the company to legal authorities; I'm pretty sure Belgium and the US have "agreements".
I was wondering: Arent those companies all listed/registered with the metaquotes company in some way? Can't they provide the necessary info?

I will file an FPA traders court case this week and provide as much information as I can.

Thanks for the feedback.
 

QuantFX

Recruit
Update 16th of July: I just called the nevice police department. They told me to contact the bank and if neessary a lawyer first.

I also just created an FPA Traders court case. Any input on what my next course of action should be? Should I do as the Nevice Police said and contact the bank?
 

Pharaoh

Colonel
Go ahead and try the Nevis regulators one more time, both by phone and email.

Ask your bank about what the receiving bank was for your deposit.
 

QuantFX

Recruit
nevisFSRC.png
Go ahead and try the Nevis regulators one more time, both by phone and email.

Ask your bank about what the receiving bank was for your deposit.
Update 17th of July:
I have contacted the nevis FSRC through email: view attachment. Will call again tomorrow.
However, I found this statement on their website:
"ADVISORY WARNING

Charlestown, Nevis, West Indies – 21 March, 2014 –The Financial Services Regulatory Commission, Nevis Branch has recently been made aware that Nevis International Business Company FX SYSTEMS LTD is offering investments and trading in forex related products and services through its website FXSystems Forex Brokerages, One Broker For All Traders.

From the information published on its website it would appear that the FX SYSTEMS LTD is affiliated with the following companies: Loyal Forex (www.LoyalForex.com); 4Runner Forex (www.4RunnerForex.com); 1PipFix (www.1PipFix.com); 2PipFixed (www.2PipFixed.com); and 1LotStp (1lotstp.com).

The public is hereby informed that FX SYSTEMS LTD and its affiliates are not and were never licensed or regulated by the Financial Services Regulatory Commission, Nevis Branch to carry on investment business in or from within the Jurisdiction. "


The regulator that is currently listed on their website is the following:
4RunnerForex is Regulated by NFACS, National Forex Accreditation Coalistion Safeguard
Registration number 648701

I have filed a claim through that website and have send an email (again) to all emailaddresses on their website. They have no Phone number listed.

Will also try to get in touch with my bank tomorrow.
 
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