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GUILTY - Case# 2011-089 | amag80 vs www.ifti-service.com/

Discussion in 'Guilty Verdicts' started by amag80, Nov 16, 2011.

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

Poll closed Dec 25, 2011.
  1. Guilty

    63 vote(s)
    100.0%
  2. Not Guilty

    0 vote(s)
    0.0%
  1. amag80

    amag80 Private, 1st Class

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    Original FPA Traders Court Submission by amag80:

    I am submitting the case against: www.ifti-service.com/

    My Case is: Dear FPA,

    On 10/25/11. I opened a Fund management account with IFTI-service in Germany. As per the requirement and statement on their website http://www.ifti-service.com/index.php/service/apply-for-fund-management
    I deposited AUD$10,500.00.

    # No suscriptions
    # No commisions
    # 5-15% Monthly profits
    # Secure Money Management
    # Minimum investment only 10000
    # Worlwide solution
    # Tight risk management
    # 250 pips montly guarantee
    # Extra bonus from brokers
    # 2.5% monthly rebates
    # Single or Joint account
    # Withdraw in your hands


    The following are some of the statements they make on their website and the application form for fund management.

    #I.F.T.I guarantees 250 Monthly pips on ever Fund Management Account. In any case of negitive closing after a month, I.F.T.I must pay the earned rebates back to Clients to cover the negitive deals

    My fund application form was accepted by them on 10/25/11 please see attached confirmation e-mail. They started trading my account on 11/01/11 with account balance $ 10,500, on 11/10/11 my account balance is $1129.68. Total loss of
    $ 9370.62 from my initial investment, kindly see attached trading report.

    They make the following statements on the fund application form.

    http://ifti-service.com/form/applyfund.pdf

    It is very disappointing that they are not abiding by their own rules and statements they make on their website.

    I have attached e-mails from them for your perusal. They want me to invest more money. They have eaten up all the investment I could afford.

    I humbly and kindly ask FPA to look into this case and bring these cheats to justice.

    Yours truly,
    Agnel Caesar

    New thread in the Scam Alerts Folder:
    www.forexpeacearmy.com/forex-forum/scam-alerts-folder/17703-ifti-service.html

    Review is submitted by afc victoria Australia on 11/14/11

    The company was first contacted about the issue on 11/09/11, the last contact was on 11/16/11

    Details: First reply from company

    Hello

    We are very sorry for the losses and the setups for last days. We are just
    getting too much of issues with our server and site and are not able to
    control our international clients.

    We can only suggest you to withdraw your funds from thinkforex and join
    our hotforex offer or add some funds to your think forex account and we
    will let your account run on our fund management strategy2 to cover the
    full losses.

    we need atleast minimum of 2500$ for trading with our strategy2.

    thank you

    ifti service

    Second Reply from company

    Hello,

    The Strategy2 is only for those Clients, who choose it from starting on.

    We need atleast 2K for startegy2, it is reqired for our Money management.

    We suggest you to withdraw your funds from thinkforex and join our
    hotforex brokership and recieve the 50% deposit bonus, than we can start
    trading it.

    Thank you for your understanding.

    IFTI Service

    Company representatives' emails:
    support <support@ifti-service.com>

    Attached Files:

    1. Trading report.pdf
    2. Fund Management Application IFTI.pdf

     
  2. amag80

    amag80 Private, 1st Class

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    Attached e-mail communications
     

    Attached Files:

  3. Pharaoh

    Pharaoh Colonel

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    Did they ever pay back those earned rebates?
     
  4. Simon Edwards

    Simon Edwards Corporal

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    Nooooooooooooooooooooooo

    HotForex is one broker that i wouldn't go anywhere near. This is just a personal opinion but stuff they state in their t&c sets off warning bells in my head.
     
  5. amag80

    amag80 Private, 1st Class

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    They have not paid a dime
     
  6. Laurie Gold

    Laurie Gold Corporal

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    Amag80, I understand that they blew up your account (technical term) but the month has not ended yet. Have you talked to them to find out if they intend to honor their agreement when the month is over?
     
  7. amag80

    amag80 Private, 1st Class

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    Hi Laurie,

    Yes i asked them about their agreement in the contract, they have not responded to my e-mail.

    i hope they abide by the contract
     
  8. amag80

    amag80 Private, 1st Class

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    IFTI Service has not replied to any of my further e-mails
     
  9. amag80

    amag80 Private, 1st Class

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    OMG , They have advertised my account and the losses on myfxbook, check the link below, i can't believe this, they have lost my money and they don't intend to honor the agreement and on top of that my account is on fxbook. Atleast they agree that my account as been destroyed. In the e-mail they sent me (above) they asked me to join startegy 2, this was not even an option when i joined and was not on the fund application form.

    Fund Manag. Strat1 System | Myfxbook
     
  10. Pharaoh

    Pharaoh Colonel

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    As soon as our AsstMod is back from Thanksgiving, I think it's about time to invite IFTI to address this issue.
     

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