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GUILTY - Case# 2012-093 | ravi.blr@rediffmail.com vs www.fxgrant.com

Discussion in 'Guilty Verdicts' started by ravi.blr@rediffmail.com, Nov 14, 2012.

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

Poll closed Dec 16, 2012.
  1. Guilty

    62 vote(s)
    98.4%
  2. Not Guilty

    1 vote(s)
    1.6%
  1. FreddyFX

    FreddyFX Sergeant

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    I vote guilty, but give you VERY little hope.
     
  2. tony orah

    tony orah Private

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    Vote of guilt on fxgrant.com

    Dear Colleagues,
    My take on this is to ascertain the following:
    1) How much was initial deposit on the account?
    2) Have you actually traded with them in their platform?

    These questions are to reconfirm if they are existing and doing business. If they are real, they are guilty and should be made to pay up with accrued interest. We traders, going forward must ensure that Brokers are duly registered with the regulatory authorities as it were before doing business with them - NFA, FSA etc.

    Orah Tony O
     
  3. PetDane

    PetDane Private, 1st Class

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    Looked up the website, nothing about registration that I could see. Withdrawal within 24 hours they claim. This site should not be running
     
  4. PaladinFX

    PaladinFX Private

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    Yes, this case looks pretty clear.

    Even if a withdrawal gets 'lost' (especially such a small one), the broker should initiate a new wire transfer, using his own money, and then follow up the 'misplaced' first attempt.
    It's not a trader's fault if his broker doesn't know how to fill a transfer form correctly (if it really is an accident).
    If it's on purpose, it's even worse, of course.

    In any case: guilty as charged.


    Cheers,
    P.
     
  5. claretblue

    claretblue Private, 1st Class

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    I checked the FSA Register and there is no FXGrant authorised.
    However, there is a registered company at the very same address as FXGrant -
    221 Bow Street, London E2. I guess that this address is just a mail-drop.
     
    #25 claretblue, Dec 10, 2012
    Last edited: Dec 10, 2012
  6. joby

    joby Private

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    if you used credit card to open account, please inform the credit card department. they will deal with them and you will get the money.
     
  7. Felix Olivares

    Felix Olivares Private

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    I was also scammed by forexbrokerinc, my vote is guilty. Only thing to do is get credit card company involved with the dispute.
     
  8. TraderChris

    TraderChris Recruit

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    It is a disgrace to the FX community that there are so many unscrupulous brokers in the market. Maybe FPA can start a page where all REGISTERED brokers can advertise, with their registration certificate and whole pedigree. Of course it will not stop the brokers being cheats, but it will be a good start.

    ANY Broker that refuses to repay money that a trader deposited into a trading account - whether the trader has traded or not - is a lying thief, cheat and scammer, which should be castrated summarily. These clowns are guilty. And they still have a LONG life before them to con people out of their hard earned cash.... Makes one want to puke.
     
    #28 TraderChris, Dec 11, 2012
    Last edited: Dec 25, 2012
  9. Prem Kumar Ramamurthi

    Joined:
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    If they are located in UK then are they regulated by FSA.

    "© 2005-2011, FX Grant. All rights reserved" but the website was registered only in 2008-08-04

    How come this broker in business even before the existence of his website. If the entity had got existed in which name he was carrying out his business operations
     
  10. Mikegodman

    Mikegodman Recruit

    Joined:
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    This broker is a scam. I tried to ring the number on their website but there is no answer. I got on chat with them and find below my converse with them:

    You are now chatting with 'FX Grant Customer Service'
    FX Grant Customer Service: Welcome to our live chat service.
    FX Grant Customer Service: Hello, how may I help?
    mike: whats your name
    FX Grant Customer Service: David
    mike: +44 20 33971143 I called on this number but no answer. Why?
    FX Grant Customer Service: I do not know
    mike: so i should call again?
    FX Grant Customer Service: maybe I can help?
    mike: i need to speak with the support not only chat
    FX Grant Customer Service: I am support, sir
    mike: then i need to hear your voice to be sure your are real and not a ghost
    FX Grant Customer Service: Sir, I am chat support. If I can help you, please ask your question
    mike: okay. can you call me ?
    FX Grant Customer Service: no
    mike: Wow! your are not supposed to be in FOREX biz if you cannot provide telephone support.

    They are GUILTY as charged.
     

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