GUILTY - Case# 2011-001 | Gonzzo vs www.Investtechfx.com

[Gonzzo]

I am still here

Sorry Guys I have not been paying attention lately. I have been sick plus busy setting up a new account with a new broker that has a 5 star rating with FPA. I got an email asking about having a vote, which I answered. I assure you my case is a real one. I also have some friends who are going through the very same thing I have described. In total we are talking about more than $200k owed by Investtech. Hopefully if my case gets resolved it will spill over into my friends' cases as well. Thanks for all of your consideration and hard work.

 

[f-man]

Sorry Guys I have not been paying attention lately. I have been sick plus busy setting up a new account with a new broker that has a 5 star rating with FPA. I got an email asking about having a vote, which I answered. I assure you my case is a real one. I also have some friends who are going through the very same thing I have described. In total we are talking about more than $200k owed by Investtech. Hopefully if my case gets resolved it will spill over into my friends' cases as well. Thanks for all of your consideration and hard work.

According to InvestTechFX they are in direct negotiations with you and another two members that filed complaints about them here at FPA.

Do you confirm that they are working on it?

 

[Gonzzo]

Nothing

I have not heard anything from InvestTech since my last phone conversation on January 14th prior to me filing a complaint with FPA. Not a peep.

 

[AsstModerator]

InvestTech did not want anyone to see the cases of Fabiano, Monkata and Gonzzo. Their lawyer demanded that the FPA remove these threads. They only replied in these threads after this demand was refused by the FPA.

The threads are going to stay. Since it looks like InvestTech is in touch with 2 of these 3, I'm going to let this go for one more week. If the traders are not satisfied by then, I see no reason not to take the cases to a vote.

One more note to InvestTech. It no longer matters if the end result is Guilty, Not Guilty, or Resolved. Once a case goes to the Open Cases folder, it doesn't get deleted and hidden from public view. Your days of trying to bribe and threaten your way out of having traders share their experiences are over.

 

[Gonzzo]

Tick Tock

Time is passing without hearing anything from InvestTech's lawyer and the week is almost gone.

 

[marjiemiller]

I believe the "outside counsel" would cost more than what they owe the trader

I believe the "outside counsel" would cost more than what they owe the trader. Indeed, if they don't have the money to pay the trader, I doubt they have the money to pay "outside counsel" plus what they owe the trader. As a hedge to the crooks, I bought stock in CXW, "Corrections Corporation of America" in anticipation of the prison boom...the only way to make money off crooks!!!!

 

[TraderBill]

InvestTechFX is actively pursuing a reasonable settlement with such parties. To this end, and in order to maintain client confidentiality, InvestTechFX has appointed outside legal representation to negotiate a resolution directly with such individuals.

Sorry but I do not buy that statement. Everyone knows that most EAs do not make money. FapTurbo is no exception and I quit using my copy. That said, I do believe that it is possible for FapTurbo to have a fantastic streak of luck. As a programmer, I do not believe that the client computer could have cheated InvestTechFX in any way. Therefore, I must conclude that either FapTurbo really did work in this case or the InvestTechFX computers created the problem.

If FapTurbo (or another EA) made the money - InvesTechFX must pay.

If InvestTechFX computers messed up, they should own up to the problem and try to work out an equitable solution. Plus, InvestTechFX should stop accepting client money and client trades until their computer problem is resolved. Trying to continue to rake in money until they are forced to shut down and flee is not good. (They may not know they have a problem - but it sure looks bad from out here.)

Their web site states: "Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers."

FPA is correct in warning us about this potential problem - regardless of the resolution to this case.

Thanks,
TraderBill

 

[Teodor Jackson]

I read the three stories and I just cannot believe they may be true!
But it all looks they are.

Didn't you hear alarm rings the first time you came across any of these non-sense excuses?

Asking someone to explain why he wants to withdraw HIS money?
That's ridiculous.

This part is even more ridiculous:
"the “Clearing house” did not believe that I could be so successful".
All trading done on THEIR platform - how can they say this kind of BS?
Is it about FX trading or thugs playing poker having hidden aces up their sleeves?

How can any broker accuse for using multiple CPUs or internet connections? I use three for example: my EA trades on one computer, the other EA standing by on another computer in different location to take over if the first one crashed and I monitor everything on the third one... Why not? There is no any legal prohibition to use multiple connections to your account.

All these agreements extensions/commitments/additional requirements, blah, blah, blah - all of this is only to to deprive your from your money as long as possible. The best forever.

Someone mentioned possible Ponzi scheme - I do subscribe to this view.

 

[Gonzzo]

Contact

I was contacted by InvestTech but they only offered the same old deal. A return of my deposit if I leave my profits in until October. I told them I was not interested.

 

[vincam]

That really is BS, more or less holding your initial deposit hostage as leverage for you to leave the other money in there and make you waste your time so in October they can feed you some other BS excuse. Your initial deposit should be refunded with no conditions that's for sure.