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GUILTY Case# 2011-028 | Wally001 vs www.forexportfolios.com

Discussion in 'Guilty Verdicts' started by Wally001, Mar 20, 2011.

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Based on the available evidence, do you believe that ForexPortfolios is guilty?

Poll closed Nov 6, 2011.
  1. Guilty

    56 vote(s)
    100.0%
  2. Not Guilty

    0 vote(s)
    0.0%
  1. Sylvie O.

    Sylvie O. Sergeant

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    I would ask a lawyer for some legal advice. If this case goes public, I will vote GUILTY.

    Good luck !
     
  2. Wally001

    Wally001 Private

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    Varengold Bank & forexportfolios.com

    Answering Pharaoh:

    Varengold bank manager in Dubai Mr.Ahmed Maroufwas the first point of contact. He introduced me to forexportfolios.com and explained how they are authorized forex manager by Varengold !
    Varengold Bank broker and forexportfolios.com both had exactly the same office location and contact number in Dubai. They hae deleted that after my incident.

    When I raised the issue with Varengold bank, their bank manager in Dubai Mr. Marouf admitted guilt and told me that he will talk to forexportfolios.com to sort out somthing. I haven't heard from him so I raised the mater to the head office in germany and I was advised that they can't do any thing and their manager in Dubai is not guilty of any thing ! they also refused any connection with forexportfolios.com !

    I have been scammed by both Varengold bank and forexportfolios.
     
  3. Laurie Gold

    Laurie Gold Corporal

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    I would like to hear from both Forexportfolio's and Varengold bank. Could we invite them in?
     
  4. Wally001

    Wally001 Private

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    I would love to hear from both of them, but good luck if they even respond !

    forexportfolios.com have changed their website few times and if you search you will find there are about 3 different website from them. Since the incident happened they keep changing their information. They have deleted most of it and any relation with Varengold bank.

    Forexportfolios.com do not have license nor registered with any secutrity commission. How on earth then can trade people money !!
    And how on earth Varengold bank authorize them as fund manger !!
     
  5. Sylvie O.

    Sylvie O. Sergeant

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    Looks like they don't care about their customers.
     
  6. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    I emailed ForexPortfolios and they didn't respond.

    Proving a broker responsible would be difficult. Showing that an account manager made promises and broke them is simpler.

    If no one from ForexPortfolios cares to discuss this, then it goes to a public vote next week.
     
  7. sc_trading

    sc_trading Recruit

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    Wally001. I'm sorry for your loss and this looks very much a scam, however you're point about "How on earth can they trade" when they don't have a license nor are registered leads me to highlight that nobody should trade with an IB or fund manager that isn't registered or regulated. Did you research this business before investing with them ?

    Dealing with an unregistered broker/dealer in a country that doesn't have any government regulatory body monitoring the sector is asking for trouble. I'm sure there are some good ones operating in those countries but why take the risk? At least in the USA, UK, Switzerland, Australia, Germany and New Zealand there are govt. authorities that give you a chance at redress and failing that, possible sanctions against the offending broker/dealer.

    I hope your problem gets resolved to your satisfaction and I will vote guilty if it goes to the vote.
     
  8. Robes

    Robes Recruit

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    The language used in the correspondence with Wally is clearly deceptive, and it is evident that these people were trading in an unauthorised manner. I would vote against them.
     
  9. Asko

    Asko Recruit

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    This topic should be put on the front page of the FPA
    burn the entire deposit of 100k for a couple of days .... unbelievable
     
    #19 Asko, Oct 24, 2011
    Last edited: Oct 24, 2011
  10. habibat

    habibat Recruit

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    Day Light Scammers (Guity)

    Hello, I went through all the statement of account and find it very ridiculous to believe, they robbed $100,000 in a few days. really unbelievable and ofcourse GUILTY when it goes public, you have my vote.
     

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