GUILTY Case# 2011-017 | Louis F vs www.investtechfx.com

[MichelAnge21]

I know, that they have a real office in the first floor of the adress.
I am not lucky to belong to the winners. I lost money by trading with them. Nevertheless I do not get a withdrawal. last message from January 27:

"We have received your withdrawal request and Bank information and are in the stage of processing it. We understand your concern and ask for your patience on this matter. Thank you and have a nice day."

On my reminders I do not get any response since then.
I think, that they are in financial trouble and survived so far by the huge bonuses they paid to new money end of the year.

I think, that this company has a kind of snowball system as business plan. Now it comes close to the collapse.

Dear Chemie

What makes you think they have a real address on the FIRST floor of their address. 1 Yonge is a big office tower. Suite 1801 on the 18th floor is occupied by Telsec Buisiness Center that rents virtual offices and some real offices ( Investtech doesn t have a real office there). The first floor is the building lobby where some tenants have offices at prohibitive price per square foot. Investtechfx other address on Bathurst St is a commercial center with some office space on the second floor occupied by another business center that rents postal addresses and their borderline legal services to help non-residents to incorporate in Canada ( Investtech has no real office space there either ).

 

[Louis F]

Dear Chemie

What makes you think they have a real address on the FIRST floor of their address. 1 Yonge is a big office tower. Suite 1801 on the 18th floor is occupied by Telsec Buisiness Center that rents virtual offices and some real offices ( Investtech doesn t have a real office there). The first floor is the building lobby where some tenants have offices at prohibitive price per square foot. Investtechfx other address on Bathurst St is a commercial center with some office space on the second floor occupied by another business center that rents postal addresses and their borderline legal services to help non-residents to incorporate in Canada ( Investtech has no real office space there either ).

MichelAnge21,

Okay, but the question is the InvesttechFx offshore company or not?

 

[SAMMYFX]

Horrible things some brokers do!

10 times guilty!!!!

 

[LEIGNEL]

Louis

Please post the 2 BIC-SWIFT and I ll tell you where the banks are. You only need to go to SWIFT.com and enter the BIC-SWIFT in their search engine

Thanks very much for this info.
You're marvellous in your attention to help this victim.

 

[MichelAnge21]

Louis

Yes, all the actual operations of InvesttechFX are done offshore. I know that for sure. But InvesttechFX is reading the forum also....

You are still trying to convince them to pay you your money. When you give up all hope and you decide to go to the police, I can tell you the info I was able to gather.

If you want, you can try this. Call ``Alan`` and tell him: In the past, your website said your clearing house was Globex Interbank or GIB Interbank in England. Now, your website only says the Interbank.
Now, I know that there is no Globex Interbank or GIB Interbank in UK. Can you please tell me where exactly is your `clearing department `that is supposed to have a problem with my account. I m a client. I think it is a legitimate question to ask. What is the name and country of your clearing house....

If he denies that their website ever said it was a Globex Interbank, point to him that there are wayback machines that keep screenshots of how websites looked in the past in their archives....

By the way, all mentions of the address at 1 Yonge St, suite 1801 have disappeared from the Investtech s website. All phone numbers with the Toronto area code are gone also....You can see Investtech are reading the forum and are now covering their tracks like crazy. Or it could be that Telsec business Centre didn t like being named here and cancelled their contract with Investtech for the virtual office.

Let s make an experiment here. Hey, Telsec ! InvesttechFX is still using a picture of your front desk on their website !

Ok, we ll wait to see if the pic will go also.

 

[MichelAnge21]

Louis

There is one question I d like to ask you. You say they are trying to intimidate you with their lawyer. That lawyer communicates with you how ? By e-mail ? That would be strange for a lawyer. Does he send you anything by the postal service ?

I am sure those people have plenty of money to pay for lawyers, but it would be interesting to know if it is really a lawyer who is communicating with you. From what canadian law firm ?

As you know, InvesttechFX say they are just a software platform. So the lawyer should name the clearing house that actually lost money from your " high frequency trading ".

 

[Investtechfx]

Official statement from InvestTechFX

Official statement from InvestTechFX in regards to the comments made by user name Louis (fictitious name used to hide true identity):

Louis is a money manager from Hungary who represents numerous accounts. Louis was caught using unauthorized trading techniques which is not in accordance with our disclaimer. Louis abused our system. Louis trades on the customers behalf with highly sophisticated hacking techniques and has placed his customers in a difficult position without updating intentionally. Furthermore he uses the lack of understanding from customers in regards to the market and trading actives to his advantage. At this point we are consulting with international lawyers concerning this particular case. The strategies employed by Louis violate the terms of the InvestTechFX Customer Agreements. In some cases, unscrupulous individuals knowingly violate terms of their agreement through performance of illegal activities. Unfortunately, due to the nature of their activities, we are unable to negotiate with these customers and must direct these cases to outside legal representation for resolution. Despite our previous warnings he ignored and refused to comply with our policies.

InvestTechFX

 

[vincam]

Official statement from InvestTechFX in regards to the comments made by user name Louis (fictitious name used to hide true identity):

Louis is a money manager from Hungary who represents numerous accounts. Louis was caught using unauthorized trading techniques which is not in accordance with our disclaimer. Louis abused our system. Louis trades on the customers behalf with highly sophisticated hacking techniques and has placed his customers in a difficult position without updating intentionally. Furthermore he uses the lack of understanding from customers in regards to the market and trading actives to his advantage. At this point we are consulting with international lawyers concerning this particular case. The strategies employed by Louis violate the terms of the InvestTechFX Customer Agreements. In some cases, unscrupulous individuals knowingly violate terms of their agreement through performance of illegal activities. Unfortunately, due to the nature of their activities, we are unable to negotiate with these customers and must direct these cases to outside legal representation for resolution. Despite our previous warnings he ignored and refused to comply with our policies.

InvestTechFX

Wow, out of all this, this is all you have to say InvestTech? That Louis is no good? What about everyone else's money you are holding and your VIP accounts that don't permit withdrawals? No comments at all from you guys till this?

 

[nova1st]

It looks something happened to the broker in 2010.
Some say they could withdraw without any problem in 2009 and possibly early 2010. Problems began later.

None of the above sounds good.

I don't think anything happened to them. It was set up that way. Typical of Ponzis to start showing problems over time when new money stops coming in to pay off old money.

 

[Lucy Wang]

Guilty

Typical action for a bucketshop. If the trader is profitable, then the trader must be doing something wrong.

Just voted. I can not believe they are still in business.