GUILTY Case# 2011-099 | billnew2fx vs www.ecnalpha.com

[billnew2fx]

Received response from John. He will add me as as payee on their bank account and will do a test transfer once this is completed which he expects to be around 48 hours.

On a positive note (finally), they have credited back the USD11K into my trading account. This 11k was the failed wire which was probably rejected by my bank due to 1 missing field sometime in Nov-2011. And ECN Alpha had just been ignoring my request to either rewire or re-credit back my trading account, until now.

 

[billnew2fx]

John provided an update that the test wire will most likely be done by tomorrow or Monday. He came to me as very sincere and has promised to seek to the end of this issue for resolution.

Given that I have got their attention (a very BIG CREDIT and THANKS to FPA and the FPA community!), I strongly urge the moderator to postpone the voting phase of this case and give them a bit of room to redeem themselves with some action and result in the coming days.

 

[AsstModerator]

I delayed adding a Guilty/Not Guilty poll to this thread. If they pay Billnew2fx this week, the issue can be declared as resolved. If Billnew2Fx reports not getting any payments on or after Saturday, March 10th, then the case will go to a vote.

 

[mrVynes]

Even if you get your money back, seeing as how they handled the situation, John being a good guy or not, you should withdraw your money and get as far away from them as possible and so should anyone else thinking of trading with them or already doing so. There should be another poll for bad service.

Hope you get your money back, Billnew2Fx!

 

[billnew2fx]

Things have progressed slower than expected this week. But I have received a couple of communications from John and that he mentioned that all the requirements are in place and that the test payment would be done next Monday. I'm totally crossed with the further delay.

However, seeing that the communication channel is till open, I strongly request that the FPA moderator extend this case for another week. Going to voting phase will be counter-productive in this situation as it may turn out to be a total loss not just for me but also for all of its clients if the broker is found 'guilty' from the votes which is of course very likely.

A big sum is at stake here and if things don't progress any further next week I'm willing to leave the decision to the moderator with any information that may transpire next week. Thanks.

 

[Joh]

The stalling methods used made me feel sick and reminds me of all the other brokers that are scam artists. Your patience is to be admired and i hope that this CEO John is keeping his word and refunds your money. Thank you sharing your story - Good Luck Bill

 

[AsstModerator]

I'll give it until next week. If there is no progress by then, this goes to a vote and I will personally recommend that people vote guilty. For now, I'm placing a caution note on ECN Alpha's review page.

 

[Pharaoh]

Sounds like ECN Alpha has a new excuse every time. That's typical for a company that's about to take the money and run. If this company wants any chance of restoring its reputation, it needs to send your money immediately.

 

[RahmanSL]

AsstModerator, I propose to make it mandatory for all ranked FPA members to vote in such cases as we do need the numbers to show scammers that there are indeed a large army in the FPA.

Too many ranked FPA members are too passive in their participation in casting their votes (including myself) and I think it's time to change that. Perhaps applying some military style laws might also be appropriate here at the FPA.


Just my thoughts on adding some teeth into the FPA!

 

[Pharaoh]

The only issue would be how to enforce a rule like that. Someone (AsstMod or one of his assistants) would have to cross-check a list of voters with the list of forums members after each vote.