GDMFX doesnt process withdrawals anymore?

Ondřej Švehla

Private
Messages
18
Hello,

I have been trading with GDMFX for about half a year. On October 23, 2011, I submitted a withdrawal of $ 3,000, and a few days later I withdrew the rest of my money. (16,698 USD in total) This money was deducted from the trading platform. After 7 business days I contacted support to tell me why they didn‘t send me money. They first told me that they had problems with the liquidity provider. A few days later they told me that they had problems with the payment portal and that I give them more time. Later I contacted support again to explain to me where is the problem. They keep telling me for over a month that I have to wait and they bother me with empty promises that I will get my money for sure. For the last week, they even bother to reply. It is impossible for me to get my money from them. I tried to contact FINANCIAL DISPUTE RESOLUTION with GDMFX registered, and they told me they could only provide their services to New Zealand citizens, and at the same time told me that GDMFX had committed not to provide financial services to New Zealand citizens. It is not my intention to harm the name of GDMFX, but since they owe me money and they havent came with any solution for such long time, I am forced to invite GDMFX for a public discussion so they can publicly explain to me why they hold my money, dont honor my withdrawals and why all I am getting from them are just lies and empty promises.
 

FxMaster

Lt. Colonel
Messages
9,442
Hello,

I have been trading with GDMFX for about half a year. On October 23, 2011, I submitted a withdrawal of $ 3,000, and a few days later I withdrew the rest of my money. (16,698 USD in total) This money was deducted from the trading platform. After 7 business days I contacted support to tell me why they didn‘t send me money. They first told me that they had problems with the liquidity provider. A few days later they told me that they had problems with the payment portal and that I give them more time. Later I contacted support again to explain to me where is the problem. They keep telling me for over a month that I have to wait and they bother me with empty promises that I will get my money for sure. For the last week, they even bother to reply. It is impossible for me to get my money from them. I tried to contact FINANCIAL DISPUTE RESOLUTION with GDMFX registered, and they told me they could only provide their services to New Zealand citizens, and at the same time told me that GDMFX had committed not to provide financial services to New Zealand citizens. It is not my intention to harm the name of GDMFX, but since they owe me money and they havent came with any solution for such long time, I am forced to invite GDMFX for a public discussion so they can publicly explain to me why they hold my money, dont honor my withdrawals and why all I am getting from them are just lies and empty promises.
Few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:
Invite them to join this thread via email (Send an email to every possible address).
Go to their website and invite them to here via Live Chat
You will find their email and address here https://www.gdmfx.com/en/about-us/contact-us

Also, Share your story as a review here http://www.forexpeacearmy.com/forex-reviews/9588/www.gdmfx.com

You can also share your story on their social media pages mentioned below:
https://www.facebook.com/GDMFXcom (Click on MORE and you will find write review option there)
https://plus.google.com/+Gdmfxcom

https://twitter.com/GDMFX

https://www.linkedin.com/company/gdmfx

https://www.pinterest.com/gdmfx/

https://www.youtube.com/user/GDMFXInternational/
 

GDMFX

GDMFX Representative
Messages
13

Dear Ondřej Švehla,

Thank you for your post and for sharing your case. Please note that my reply below is the official position of GDMFX, which is the same for you and all other Customers who have been affected by the USDTRY currency pair.

What our Support team has communicated to you corresponds with reality - due to the significant moves seen lately on the Turkish Lira versus the US Dollar, we are experiencing issues with our counter-parties (liquidity provider and payment processors). Our Financial department is doing everything possible to get the normal level of service back.

Please note this situation is not in breach of our Terms of Business as the Company has provisions to cover for extreme situations like the present one. The provisions I am talking about were introduced following the "Black-swan" event which saw some of the world's biggest brokers and liquidity providers crash overnight. In order to protect the Brokerage and all of its Customers in case of extreme market moves happening again, GDMFX has explicitly stipulated in its Terms of Business that in all cases when an asset moves more than 1000 pips in a period smaller than 48 hours, GDMFX reserves the right to delay certain services, including deposits and withdrawals, to affected accounts. Here is a link for more information: https://www.gdmfx.com/en/about-us/legal-documents/risk.

Attempting to settle matters with our counter-parties also involves checking all USDTRY trades which inevitably takes time. You will receive an official reply by GDMFX on your email and if no invalid trades are detected in your accounts, your case should be resolved quite quickly.

Regarding FDR - we have come to know about their change of policy only to accept Disputes from NZ residents, only recently, and have immediately reflected this on our website https://www.gdmfx.com/en/about-us/what-you-need-to-know. We have had many non-NZ Customers who have brought complaints to FDR in the past and their cases were successfully resolved without any issues. This is new to us and our legal advisers are already working on alternatives to arrange new dispute resolution coverage for our Customers.

We realize the frustration the current situation has caused you and on behalf of GDMFX, we would like to apologize and to thank you very much for your patience. Furthermore, we appreciate the fact that you do not want to damage the name of GDMFX as that would not help anyone in this case. Undoubtedly, you will discover that we have already successfully resolved the issues of other TRY-affected traders just like you, so things are moving in the right direction. We would like to take the opportunity to ask anyone who might be reading this topic and whose account has been involved in trading with the Turkish Lira, to contact our Support team.
 

Ondřej Švehla

Private
Messages
18
Hello,

I have been asking you to review my case for a month because I know so my business has not been going through USDTRY in the already mentioned period of extreme movements. This is a great financial loss to me. You still promise on the livechat to solve this problem and write me an email. I wrote several times on an email but no one is writing me anymore. You keep all my money (deposits and profits). Many other clients do not believe you so you have a liquidity provider because you do not want to publish their name. we can not trust you
mso-ansi-language:EN">until you can prove that you have a liquidity provider
"Tahoma","sans-serif";color:#212121;mso-ansi-language:EN">there has been no change for the whole month and I'm still waiting. Follow promises!
 

Ondřej Švehla

Private
Messages
18
Hello,

I have been asking you to review my case for a month because I know so my business has not been going through USDTRY in the already mentioned period of extreme movements. This is a great financial loss to me. You still promise on the livechat to solve this problem and write me an email. I wrote several times on an email but no one is writing me anymore. You keep all my money (deposits and profits). Many other clients do not believe you so you have a liquidity provider because you do not want to publish their name. we can not trust you
until you can prove that you have a liquidity provider
there has been no change for the whole month and I'm still waiting. Follow promises!
 

Ondřej Švehla

Private
Messages
18
I would like to point out that my account at DGDMFX nuber 8156661 has been deleted without warning. no data are available to me. They did not even warn me.

this is a very interesting deal with clients. I get the impression that it's all a scam.
 

GDMFX

GDMFX Representative
Messages
13

Dear Ondřej,

Thank you for sharing your thoughts publicly, once again. Your trading account was not deleted but temporarily disabled until the internal investigation of your USDTRY trades is completed. At that time you will also receive an official email from GDMFX, notifying you of the outcome of the said investigation. Please be patient, we appreciate your assistance very much!
 

Ondřej Švehla

Private
Messages
18
Hello,

you still just bite. I asked you for the name of the liquidity provider, but you did not answer me. you are dealing with one case for almost 2 months. how long do you think I'll wait? my account manager does not communicate with me. is this your normal procedure? You only promise to the injured people but you have not yet solved anything. kindly suggest some solution. your actions are causing me damage of about 1500 USD per month. If you can not give me a solution, I will write very bad reviews and you believe that you will lose a lot of clients.
I do not want any promises but solutions. I will not wait six months.
 

poorme

Recruit
Messages
6
Hi all, warning!!! I am getting so angry, GDMFX has just deleted my account without any notice, I am wondering if they are try to escape......I a feeling so frustrated...
 
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