GDMFX: Problems receiving withdrawal

peci1

Private
Messages
24
I'm one of the other traders affected by the recent USDTRY trading problems on GDMFX. I deposited ~ $4800 and made about $500 profit trading USDTRY.

On November 2017 I sent a withdrawal request to the whole account, ~ $5300. After two weeks, nothing was going on, no communication from their side, and the money did not arrive. Then I found It's a more general problem ( http://www.forexpeacearmy.com/community/threads/gdmfx-doesnt-process-withdrawals-anymore.52921/ , http://www.forexpeacearmy.com/commu...onor-withdrawals-many-traders-involved.52929/ ).

After some hard trying, they sent me the same excuse - my account is under "investigation". They did not even mention what they mentioned elswhere, that according to their TOS, they can block my money for 6 months.

On 13 Dec, I received a resolution from them:

During its internal investigation and ongoing communication with its counter-parties, it has become known to GDMFX that trading Orders in Trading accounts that you hold with GDMFX, on the USDTRY currency pair, have been executed at invalid prices. As a result, GDMFX has been forced to void the said trading orders. Since the only trading orders in your trading account number 8122517 were on USDTRY, the updated balance after the said orders were voided and after returning your already submitted withdrawal, was equal to the amount of your total deposits to the said trading account number 8122517, or 4816.11 USD. GDMFX has proceeded to send you this amount. The first batch of 2500 USD has already been sent by means of a refund of your card deposit (transaction ID TRX_1528153). Please note that typically, it takes a few days for the refund to reflect in your card's balance. The remaining amount of 2286.11 USD (after deducting the withdrawal fee) shall be transferred by means of a bank transfer and a confirmation will be sent to your email.
Different from the other traders, I already received the first batch, $2500 (which is 52% of my deposit). However, it's been more than a month since they sweared they'll send the rest of my deposits via wire transfer, and nothing happened. And again, they don't communicate with me whether I'm writing emails or chatting with support.

In the other threads here at FPA, they defend themselves by claiming they behave according to their TOS. They probably are, but this lack of information is what damages their reputation much more. I, as a client, just don't feel they're trying to help me get my money back.

I'll post updates when something happens, and I'll officially invite GDMFX to reply to this alert.
 

peci1

Private
Messages
24
I also expect to receive a reasonable explanation of why GDMFX removed all my trades. They only said they were traded on "invalid prices" and that's all. So, GDMFX, can you provide a proof of bad prices? I entered all trades manually in calm market, I compared your charts with charts from another brokers and it looks the same. If your argument is that the price differed only few pips from real price, then you don't have the right to remove all my swing trades that have several hundreds or even thousands pips P/L. Until you explain this in detail, I am forced to take this as a scam act from you and I will make further steps to get my profits that were illegally taken from me.
 

GDMFX

GDMFX Representative
Messages
13
Hello, everyone.

GDMFX would like to apologize to all who have delayed withdrawals. The reason is that accounts who have traded on volatile assets, that have moved by more than 1000 pips in a period of 24 hours, are being reviewed. The resuming of normal service levels in such cases can take up to 6 months, as stipulated in our Terms of Business https://www.gdmfx.com/en/about-us/legal-documents. For more information, please refer to our Risk Disclosure https://www.gdmfx.com/en/about-us/legal-documents/risk section "Service Interruptions due to Extreme Market Conditions".

Please note that trading accounts that are being reviewed are not "deleted" as it was previously suggested, but only temporarily disabled.

In case you have any questions, you can contact CustomerSupport@gdmfx.com.
 

miulius

Recruit
Messages
1
Hello, everyone.

GDMFX would like to apologize to all who have delayed withdrawals. The reason is that accounts who have traded on volatile assets, that have moved by more than 1000 pips in a period of 24 hours, are being reviewed. The resuming of normal service levels in such cases can take up to 6 months, as stipulated in our Terms of Business https://www.gdmfx.com/en/about-us/legal-documents. For more information, please refer to our Risk Disclosure https://www.gdmfx.com/en/about-us/legal-documents/risk section "Service Interruptions due to Extreme Market Conditions".

Please note that trading accounts that are being reviewed are not "deleted" as it was previously suggested, but only temporarily disabled.

In case you have any questions, you can contact CustomerSupport@gdmfx.com.


What about my case, where my withdrawal is coming all from client's commission? What have you got to review there? I will sue you, this is for sure
 
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