Global FX Management Trading Ltd

[EricBubb]

I have requested to vist Andrew Frankland in Spain for 2 months in a row. First when Andrew Frankland phoned me first time. Then secondly when Susan phoned me requesting a suitable time for Andrew Frankland to phone me the following month needless to say Andrew Frankland did not phone me that month.

I waited another month to pass then I closed my account and requested the return of my money. I sent the E Mail to clients@global-fx.net. A week later I received a phone call from Andrew Frankland asking why I was closing my account. I stated that I had request to visit him in Spain twice and I was neither invited nor denied permission to visit his office in Spain. He behaved like a spoiled school boy on the phone.

I stoped his whineing by telling Andrew Frankland straight all I require is an invitation to you office in Spain and I will keep my account open. "So what is your address". Andrew Frnkland coldly stated he did not want any visitors and refused to supply his Spanish address. Hence I told him to close my account and return my money.

Today I received an E MAil from clients@global-fx.net stating that as I had not kept my account open for 2 years they will deduct 35% commision from the account profit and the money will be returned in 60 days.

Now Gloal-fx trade the foreign Exchange spot market which is liquid make a trade and your account is instantly credited or debited with the result of the trade. Contact your broker and you can have your money in your own bank account in 5 days. Why does Global FX require 60 days to return the balance of your trading account to your Bank Account!! That is the question.

Update
Following on my request to close the account with Global FX. I have just had a very interesting conversation with David Hicks the South American Partner of Andrew Frankland.

He led me through the Messaging system Global FX use to communicate with their brokers and demonstrated Global FX own trading platform. Which they developed themselves. It allowed Global FX to monitor their trades and control the risks involved. Myself having experience of BAC's messaging system, Fortise Banks Payments, Electronic Data Interchange, Marketing data bases and monitoring company performance of sales etc it is what I expect any good company to carry out. I now have an invitation to visit Andrew Franklin in Spain. And I am leaving my account open.

Do not take this as a recommendation make up your own mind.

 

[BPC]

I think (and hope) the GFM you guys are talking about is different than this one:

Global Forex Exchange Brokers

I've been with them a few months now and am very happy. The gains are not huge (%5 ish) but the trades are very quick and infrequent.

BPC

 

[Robover]

Hi I am currently closing my account down with global fx or www.gfxsignals.com. I have seen very healthy returns over the past 4years but the proof is in the payout. I gave notice in January and my cash should be with me on the 23rd may! I'll keep you updated
Cheers
Rob

 

[EricBubb]

Global FX has changed

Update
Following on my request to close the account with Global FX. I have just had a very interesting conversation with David Hicks the South American Partner of Andrew Frankland.

He led me through the Messaging system Global FX use to communicate with their brokers and demonstrated Global FX own trading platform. Which they developed themselves. It allowed Global FX to monitor their trades and control the risks involved. Myself having experience of BAC's messaging system, Fortise Banks Payments, Electronic Data Interchange, Marketing data bases and monitoring company performance of sales etc it is what I expect any good company to carry out. I now have an invitation to visit Andrew Franklin in Spain. And I am leaving my account open.

Do not take this as a recommendation make up your own mind.

Andrew has left Global FX
David Hick is now running it alone.

David has changed the rules with out informing investors and generally we are not happy.
Watch this space for updates.

 

[Pharaoh]

If you have any unhappiness with an account manager or other type of investment, the best thing to do is pull your cash out immediately. If you change your mind, you can always put it back in later.

 

[Quentin Craven]

Now it's July 2013 and very few people will be satisfied with David Hick or GlobalFx. Andrew Frankland left, and all manner of chaos has come to fill the void. I'm one of many clients who have closed their account and are trying to get their money back. His standard now is to charge 45% commission on profits - before imposing losses for loosing open trades. But he removed the stop losses from those trades nearly a year ago, a direct breach of the trading agreement which also imposes a maximum of 1% loss per trade. But Mr. Hick states if you want to close your account, this doesn't apply. An inventor of convenient rules which would collapse in any court. Apart from anything else, I'm amongst many who have yet to see any capital returned at all and have no idea if or when that might be. The above is only one of many tricks and ploys Mr. Hick uses to part clients from their investment. Another example is to send you a closing statement for your part in his loosing positions (in any case questionable) which "accidentally" doubles your exposure - and therefore the loss he wants you to take. My advice to anyone involved with him is get out if you can, and to anyone considering GlobalFx as an investment - stay well away.

 

[Pharaoh]

Use this as a guide to places you can go to file complaints:

https://www.forexpeacearmy.com/fore...ave-you-been-scammed-how-complain-manual.html

 

[ianhindley]

Weird!!!! The company names and website URLs in this thread belong to the same company Ive been dealing with for over 5 years, but the names of the individuals in this thread I don’t recognise.

In over 5 years I never came across a David or Andrew or a Susan. But the 'Andrew' referred to in these posts I have spoke to lived in Switzerland for part of the year and the rest of the time in Spain. I know him as Matt. What are the chances of two guys living the same lifestyle working for the same company?

And the 'David' referred to in these posts that lived in South America I knew as John. Again, what’s the probability of two guys living the same lifestyle working for the same company?

Anyway, long story short, ive been trying for 2 years to draw money out of my account which every 3 months John advised me I couldn’t do as there were open trades.

Their website has now fallen off the Internet - Under Construction - GFX.

Their email is also bouncing back as undeliverable. (customerservices@global-fx.net; john.warner@global-fx.net). Their bureau in Switzerland is no longer taking calls (number unrecognizable).

Has anyone spoken with these guys recently? Is it as bad as it looks?

 

[Pharaoh]

It sounds like the house of cards may be falling.

 

[DitterPD]

They came, they took, they left.