Global FX Management Trading Ltd

[jamesfirestone]

Does anybody have any new information regarding the situation with GFXsignals
please ?

 

[ianhindley]

Since I posted a few weeks back, here’s an update:

1) Not sure exactly what happened, but the answering service in Switzerland is working. I’m not sure why the number was ‘dead’ (as I posted earlier) as the call history of the phone I rung from, definitely had the correct number listed
2) Emails are no longer bouncing back
3) Website was up since I last posted, but has since gone down again
4) John Warner has contacted me. The ‘coincidence’ I pointed out in my earlier post is just that – coincidence. He also explained the Managing Director is David Hicks. John Warner is Director. Matthew Hale is semi-retired now. And Andrew Frankland has left the company

So, another quarter has slipped by and I’ve still not been able to drawdown from my account. Believe it or not my request was submitted 5/6/12. So we’re now 1 year and 4 months and still waiting. But good news, John explained that GlobalFX would close the open trades that are blocking the drawdown (and the drawdown of other customers) at the end of this year (2013) at the latest. This will happen even if the trades are still at a loss.

To be frank, (as an earlier post noted), I too am a little disappointed that the original maximum loss our accounts were subject to in any one trade seems to have been forgotten. And I’ve certainly not received any communication from GlobalFX to flag this change in trading conditions. I’m sure GlobalFX will send out a communication to clear up this apparent change in trading shortly.

It’s obvious the success of any forex trading company is partly based on its reputation and level of transparency to its customers. This thread provides evidence of neither for current and future customers of GlobalFX. As things stand today I still cant recommend GlobalFX. How could anyone who hasn’t been able to draw down funds from their account for 16months and counting? However, I’m quite prepared to redress the balance in this thread come January 2014 provided the drawdown is successful.

The ball is now in GlobalFX's court to turn this situation around. I hope to be updating this thread with a glowing report on GlobalFX come January 2014!!! I’m sure GlobalFX wont let us down as their reputation relies on it.

 

[David Buck]

I've been with them now for four years but am having to close my account due to financial reasons. My 180 days have passed and I am waiting for them to contact me with regards to getting my money paid into my account. I will let you know when I get paid.

 

[ArthurBrown]

To be honest I'd get the hell out of dodge. The websites have been up and down and now just don't work properly. I haven't had my monthly reports recently and when I was receiving them, the numbers just didn't stack up. It was pretty obvious that the trades were being fixed.... times, amounts etc just didn't stack up. How stupid do these people think we are!

For a company with such a supposedly powerful trading system, somebody still fixes the results. I'm not happy and have tried to close my account. I'm not using my real name in case it affects the outcome, but I've been penalised a huge amount of money which was not in the original contract made when Andrew was still around. Now he's gone David Hick has been acting like a madman, or should I say John Warner or whatever he pretends to be. Fake names... come on.... this is a boiler room, albeit without the hard sell... I rue the day I invested a penny in this scam.

Don't be fooled by some swish system that looks pretty, I'm betting the whole thing was stolen from someone else anyway, that's the way these guys work, stealing everything they can, probably like all the pretty phrases on the websites or spewed out by the sales people.

This is a ponzi scheme, we just haven't seen it crash yet. Anyone that put up the amount to draw down to something stupid like 45% is hiding something, like a lack of money. Just where is our money being invested anyway and by who?

Have you tried to actually talk to these people lately? Good luck.... I'm just glad I didn't get sucked in to investing something like my life savings. Warning.... if you are in doubt.... get hold of the FSA.... these guys are NOT registered and they are thieves!!!!!!!

I have tried to get my money back and been put off month after month, avoided phone calls, lost e-mails ( apparently ) and I'm getting nowhere.... I'm betting my money is long gone and spent on a great party life for someone else.

 

[David Buck]

Payment

To be honest I'd get the hell out of dodge. The websites have been up and down and now just don't work properly. I haven't had my monthly reports recently and when I was receiving them, the numbers just didn't stack up. It was pretty obvious that the trades were being fixed.... times, amounts etc just didn't stack up. How stupid do these people think we are!

For a company with such a supposedly powerful trading system, somebody still fixes the results. I'm not happy and have tried to close my account. I'm not using my real name in case it affects the outcome, but I've been penalised a huge amount of money which was not in the original contract made when Andrew was still around. Now he's gone David Hick has been acting like a madman, or should I say John Warner or whatever he pretends to be. Fake names... come on.... this is a boiler room, albeit without the hard sell... I rue the day I invested a penny in this scam.

Don't be fooled by some swish system that looks pretty, I'm betting the whole thing was stolen from someone else anyway, that's the way these guys work, stealing everything they can, probably like all the pretty phrases on the websites or spewed out by the sales people.

This is a ponzi scheme, we just haven't seen it crash yet. Anyone that put up the amount to draw down to something stupid like 45% is hiding something, like a lack of money. Just where is our money being invested anyway and by who?

Have you tried to actually talk to these people lately? Good luck.... I'm just glad I didn't get sucked in to investing something like my life savings. Warning.... if you are in doubt.... get hold of the FSA.... these guys are NOT registered and they are thieves!!!!!!!

I have tried to get my money back and been put off month after month, avoided phone calls, lost e-mails ( apparently ) and I'm getting nowhere.... I'm betting my money is long gone and spent on a great party life for someone else.

Got a call from David just before Christmas and he said there was not enough money in the pot to pay and that when the dollar/euro hits 1.22 to 1.25 then he will be in a position to do so. He expects this to be sometime near the end of the first quarter.

 

[jamesfirestone]

Hi David,

I to am a fellow gfx investor.

I read your previous posts.Correct me if iam wrong please..but as i understand you closed your account down 6 months ago.
And now your being told there isnt the money to pay you.

This shoudnt be an issue as your closing your account and asking for your initial deposit back or whats left.

This just cannot be correct on there behalf and Highly suspicious.The euro most probably will not see 1.22.
for a very long time.


Apologies for the question as i appreciate you do not know me.
Iam in a similar position to yourself.And frankly its been a horrendous experience.

Got a call from David just before Christmas and he said there was not enough money in the pot to pay and that when the dollar/euro hits 1.22 to 1.25 then he will be in a position to do so. He expects this to be sometime near the end of the first quarter.

 

[David Buck]

Hi David,

I to am a fellow gfx investor.

I read your previous posts.Correct me if iam wrong please..but as i understand you closed your account down 6 months ago.
And now your being told there isnt the money to pay you.

This shoudnt be an issue as your closing your account and asking for your initial deposit back or whats left.

This just cannot be correct on there behalf and Highly suspicious.The euro most probably will not see 1.22.
for a very long time.


Apologies for the question as i appreciate you do not know me.
Iam in a similar position to yourself.And frankly its been a horrendous experience.

I wrote to them in June that I would close my account, which takes 180 days so my payment would have been due at the end of December. Must confess if they haven't the money to pay my pittance they must be in a tight spot.

 

[EricBubb]

Much to my cost my advice is stay well away

 

[isleworth]

It appears that they have unrealized losses, from 2012 that amount to between 40 and 50% of the funds value. These losses are for sell bets on EUR/USD and EUR/JPY. I can not see these trades ever recovering to a level where they will be profitable or even restrict the losses to 10% or less. Very difficult to understand how they expect to correct this situation, given that such trades reduce their margin and this in turn reduces their ability to release funds and return them to investors. Additionally, they are currently showing a 7 - 8% loss for February which will also weigh heavily on the margin. Of course whether those funds still exist is a subjective matter and is proving difficult to establish.

 

[drummerboy]

I have been requesting the 20000 sent over to cover a margin call in Feb. of 2013. Was promised it would be sent back when BAC gets to $11.56 by Robert Mathewson. I haven't been able to see updated balances and now i cant even log in. David Hicks and robert Won't return my emails or phone calls. Please don't invest with these guys!! They are not honest people. My account was over 1000000 at one point. I asked them to take some money off the table. have been asking them for many months for some money. When i ask they disable my account!!!