GUILTY Case# 2012-086 | naibody vs true8fx.com

Original FPA Traders Court Submission by naibody:

I am submitting the case against: true8fx.com

My Case is: My name is Razvan from Brasov, Romania. On Thursday, April 26, 2012, I opened a trading account in the company TRUE8FX Forex market, receiving account number 36812585 and corresponding password to start trading. I received a credit bonus worth $ 20 with which could making transactions. The only condition in order to withdraw profit earned was to realize a profit of over $ 200, which I did. On 20 September 2012 I had in the trading account the amount of 224.89 USD representing profit made from trading on the Forex market + 20 USD representing the company credit. On the same date of 09/20/2012, I emailed the company True8Fx, calling for the withdrawal of the amount of money representing my profits in the amount of 224.89 USD. From this date I have not received any emails and no response to my email which I sent to this company on 28/09/2012, 10/02/2012, 10/03/2012, 04/10/2012, 05/10/2012, asked my right, namely to receive profits from trading through the company True8Fx.

New thread in the Scam Alerts Folder:
www.forexpeacearmy.com/forex-forum/scam-alerts-folder/21728-true8fx-scam-broker.html

Review is submitted by Razvan on 10/09/12

The company was first contacted about the issue on 09/20/12, the last contact was on 10/05/12

Details: From: Razvan <forexrzv@yahoo.com>
To: "customer@true8fx.com" <customer@true8fx.com>
Sent: Thursday, September 20, 2012 9:04 AM
Subject: Withdraw from account 36812585

Dear Sir,

I met the conditions for a withdrawal, so kindly I am asking you to send me the money - 224.89 USD - to my PayPal address mesajprivat@yahoo.com.


Thank you,
Best regards,
Razvan



________________________________________
From: True8FX Customer <customer@true8fx.com>
To: Razvan <forexrzv@yahoo.com>
Sent: Saturday, August 25, 2012 7:02 AM
Subject: Re: withdraw from account 36812585

Dear customer,

To withdraw your deposit bonus you have to reach the balance of 200 USD.

Best Regards,

Company representatives' emails:
truefx<true8fx@gmail.com>
Dalmo Forli<dfoliex@gmail.com>

Attached Files:

1. Razvan Statement_004.jpg
2. Withdrawal True8Fx email.jpg

 

This one looks like it's well covered in the public discussions thread.

AsstMod, could you please invite the company to reply publicly?

 

Invitation sent. If they don't reply in a few days, this one goes to the Open Cases folder.

 

I smell a rat.

 

Hi Naibody,
Oh my gosh this story sickens me to my stomach -awful to ask for your hard earned money and true8fx behaves like that. Thank you for informing us they may not know that 50000 and i am not kidding -tens and tens of thousands of FPA members read this story - they and their true8fx are now known and marked/noted as scams - unless they pay you quickly and promptly. I wish you the very best.

 

Sad to see that there are SO many bucket shops out there ripping everyone off.

 

I think this is a fit case for poll.

 

If True8Fx doesn't bother to show up to defend themselves, the poll will be next week.

 

While it seems clear true8fx is a scam... I am curious that you could open an account and trade the broker's $20 bonus without depositing ANY money of your own. Admirable that you turned $20 into $224.89 in such a short time (5 months?).

That said, if the conditions for withdrawal had been met. as you state, then the transaction should proceed. It is of course unfortunate that the broker chose not to participate in their defense.

My vote... guilty.

 

The only condition in order to withdraw profit earned was to realize a profit of over $ 200, which I did. On 20 September 2012 I had in the trading account the amount of 224.89 USD representing profit made from trading on the Forex market + 20 USD representing the company credit. On the same date of 09/20/2012, I emailed the company True8Fx, calling for the withdrawal of the amount of money representing my profits in the amount of 224.89 USD.

Just to be clear, was your profit $4.89, or 24.89, or 224.89.

Its just that the statement says you have to realisea profit of over $200, which would mean 200 above bonus and initial starting capital........