GUILTY Case# 2012-100 | duwi vs www.fxcast.com

[PetDane]

If the company is not contesting the withdrawal and has already agreed to pay,but is simply not actioning the payment,then the money then a trading statement is irelevant.
This a straightfoward case,either they pay what they said would pay or be labeled SCAM!

 

[duwi]

The latest reply from fxcast.com


Keep delaying ... no other explanation given.

 

[SAMMYFX]

This is nothing but pure SCAM.

 

[duwi]

I hope you guys had great new year break.

Please help me to stop this company stealing other people money.
This should be straight forward case: I requested to withdraw my money but they did not give me my money. And no explanation given. So what we need to do now, just vote for GUILTY.

Thanks for your help - helping other traders

 

[gembuz]

I absolutely Voted GUILTY!! Delaying withdrawal process is just an excuse to steal clients money!! Not paying clients money is a CRIME!! FxCast.com is for sure S-C-A-M

 

[fxeasy75]

According to their website (bottom corner on the left) they are supposed to be regulated by FSC Mauritius. Licence number C109007482 SEC-2.4.

Nonetheless, I have been unable to verify this. Please see Register of Licensees - Financial Services Commission (under Investment Dealers and Representative of Investment Dealers). There is an FX broker in the list.

Duwi, maybe you ought to make contact with FSC Mauritius on the matter.

Its really strange. Its usually compliance will ask for documentation when vetting a trader for opening acct to prevent money laundering. But vetting documentation that lasts more than 1 mth during withdrawal? I vote guilty

BTW: One month ago, I ended my relationship with UFXMarkets, during withdrawal they ask for documentation to ensure that the money is credited back to same person. They took only 24hrs and I got my $ after 3.5days into my bank acct and withdrawal was by bank wire. My acct manager even emailed me and called me personally to say that she is aware and to keep her updated and she will also check on the progress if the withdrawal and vetting is not done after 72hrs. Its true that there are some nasty comments abt UFXBank and UFXMarkets and they have wide spreads, 4 digits quotes, but my personal experience was still ok. I admit I likely wont be trading with them coz of spreads and quotes, but at least they are really fast abt withdrawals and deposits

IMHO: Its better to go with a regulated broker that a reputable company recommends. One such company is cashBack. I loved their service, had been with them over 3 years and I ONLY select brokers in their list to trade with. Newbies may benefit likewish as CashBack not only give u back the rebates, they also had a list of at least 30 brokers to choose from. Come to FPA and get other trades to share their own good experience with their broker as well. Not all brokers are monsters, there are some really ethical and reputable ones available

 

[Jonster51]

Just another jackass broker. When are people going to learn to not deal with these barf bucket shops.

When you see Cyprus, Belize, Eastern European countries, some island someplace or Russia as their regulator .... RUN and never look back.

 

[mohiwme]

Hi everybody , in my opinion this case and way of dealing occur with most brokers ,they delay the payment for the reason of benefits for their co.
So thank you FPA for opening this case and i hope that every country gets functioning laws to stop this stealing as Fred said
thank you again >>>>>

 

[pianoman959]

Guilty.

Personally, I would file a criminal complaint against this broker. Once I had the criminal complaint number, I would report that information and details to 1&1 AG as well as the information on this site. They are using 1&1 name servers and may be using a dedicated server at 1and1. I think the goal should be to have their site taken down once a "Guilty" comes in.

The traceroute information can be found at Traceroute, Visual Trace Route, IP Trace, IP Address Route Location. The "WhoIs" is on a seperate tab at that link.

WhoIs shows the following contact information. You made want to provide this information to your attorney.

Admin Contact
Oliver Schleede
NA
@cityflowers.de
Am Ehrenmal 8
Hamburg, D-22175, DE
phone: +49.4069644202

Technical Contact
Oliver Schleede
NA
@cityflowers.de
Am Ehrenmal 8
Hamburg, D-22175, DE
phone: +49.4069644202

Zone Contact
Oliver Schleede
NA
@cityflowers.de
Am Ehrenmal 8
Hamburg, D-22175, DE
phone: +49.4069644202

Good Luck!

 

[FXpublish]

Quite suspicious dealing from broker's side. don't do business with such "unregulated" Co. I hope so they will process and return money to you and provide explanation on the FPA for further transparent's dealing with traders. I think the best one is to trade with Co under ASIC, FSA, NFA, NZ athority (FSPR/FMA),CySec.