Original FPA Traders Court Submission:
I am submitting the case against: www.investtechfx.com
My Case is: I have the same problem as the others. InvestTechFX is not willing to pay back money. I opened my first account at them in January, 2009. I used my self-developed EAs on my account.
Then from the profit I opened new accounts at them, altogether three. The number of the accounts became four at them. All of the accounts are in the group of EA/Scalping. I was developing my EAs while I used them. There is no difference in their function. The EAs opens a position at different places and it closes at different signs. It could be that 3 positions are opened at the same time. In 2009 I asked for money back every 2-3 month and InvestTechFX transferred. In 2010 they didn’t always want to pay back money. They promised that it is possible to ask a bigger sum in August, 2010 and back all of the money will be available in December, 2010. "Additional funds of approximately $40 000.00 will be released to you by the end of August 2010. All the funds, P/L balance, will be available for total withdrawal by the end of the year, December 31st, 2010."
I lived in hopes but it didn’t happen so. They didn’t transfer anything back in August, 2010. I had enough of this and I made an announcement at the OSC and at the BBB hoping that they could help me. It didn’t happen so. InvestTechFX started attacking me with their own lawyer that I used prohibited trading strategy because according to them I used HFT. (This prohibition was only involved in their Disclaimers in December, 2010.) Well, that was interesting to see because these EAs have already been working since January, 2009. The trouble is that you may use an any kind of strategy if you are in winning, you’ll be proclaimed for swindler certainly. Supposedly they started an international investigation against me. I paid them more than 100 000 USD commission. It was contrived that they had loss because of my tradings and now they turn to an insurance for compensation. If they really had loss it means that they don’t cover the positions. The trading positions don’t get out onto the real market. Then they aren’t a real STP company. This is like the customers only would trade on a demo platform.
If it is so why do the clients pay the commissions? Information is not given that the money, that is visible on the trading account, where is actually. Because the money is on the trading account just it isn’t possible to get it.
They say it about themselves that they are a software company but not a brokerage company. If this is so by what right do they recruit clients to trade at them? I did not find any information that they are a software company. Business Type: Trading Company, Distributor/Wholesaler, Business Service. Product/Service: FOREX.
Their philosophy is that if you make profit then you are a swindler. They love if you lose your money and then you should send more to them.
New thread in the Scam Alerts Folder:
Review is submitted by Louis on 01/04/11
The company was first contacted about the issue on 09/16/10 the last contact was on 02/17/11
Details: The Investtechfx.com can't answer my emails.
Company representatives' emails: Mike <info@investtechfx.com>, Rony <investtechfx@yahoo.com>, Steve <info@investtechfx.com>, Alan (investtechfx3@yahoo.com>
I am submitting the case against: www.investtechfx.com
My Case is: I have the same problem as the others. InvestTechFX is not willing to pay back money. I opened my first account at them in January, 2009. I used my self-developed EAs on my account.
Then from the profit I opened new accounts at them, altogether three. The number of the accounts became four at them. All of the accounts are in the group of EA/Scalping. I was developing my EAs while I used them. There is no difference in their function. The EAs opens a position at different places and it closes at different signs. It could be that 3 positions are opened at the same time. In 2009 I asked for money back every 2-3 month and InvestTechFX transferred. In 2010 they didn’t always want to pay back money. They promised that it is possible to ask a bigger sum in August, 2010 and back all of the money will be available in December, 2010. "Additional funds of approximately $40 000.00 will be released to you by the end of August 2010. All the funds, P/L balance, will be available for total withdrawal by the end of the year, December 31st, 2010."
I lived in hopes but it didn’t happen so. They didn’t transfer anything back in August, 2010. I had enough of this and I made an announcement at the OSC and at the BBB hoping that they could help me. It didn’t happen so. InvestTechFX started attacking me with their own lawyer that I used prohibited trading strategy because according to them I used HFT. (This prohibition was only involved in their Disclaimers in December, 2010.) Well, that was interesting to see because these EAs have already been working since January, 2009. The trouble is that you may use an any kind of strategy if you are in winning, you’ll be proclaimed for swindler certainly. Supposedly they started an international investigation against me. I paid them more than 100 000 USD commission. It was contrived that they had loss because of my tradings and now they turn to an insurance for compensation. If they really had loss it means that they don’t cover the positions. The trading positions don’t get out onto the real market. Then they aren’t a real STP company. This is like the customers only would trade on a demo platform.
If it is so why do the clients pay the commissions? Information is not given that the money, that is visible on the trading account, where is actually. Because the money is on the trading account just it isn’t possible to get it.
They say it about themselves that they are a software company but not a brokerage company. If this is so by what right do they recruit clients to trade at them? I did not find any information that they are a software company. Business Type: Trading Company, Distributor/Wholesaler, Business Service. Product/Service: FOREX.
Their philosophy is that if you make profit then you are a swindler. They love if you lose your money and then you should send more to them.
New thread in the Scam Alerts Folder:
Review is submitted by Louis on 01/04/11
The company was first contacted about the issue on 09/16/10 the last contact was on 02/17/11
Details: The Investtechfx.com can't answer my emails.
Company representatives' emails: Mike <info@investtechfx.com>, Rony <investtechfx@yahoo.com>, Steve <info@investtechfx.com>, Alan (investtechfx3@yahoo.com>