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

[Black Widow]

Bah. Guilty! Thats obvious! Scammers and bucketshop.

 

[polaris2012]

on my mind according the prologue...it's definitely the broker fault..but i thought it was an expensive lesson for you to get...may be from this point, you should consider regulated broker..or easily took from the big 3, US, UK, Aussie

 

[tony orah]

on my mind according the prologue...it's definitely the broker fault..but i thought it was an expensive lesson for you to get...may be from this point, you should consider regulated broker..or easily took from the big 3, US, UK, Aussie

Dear Great colleagues,
Some of the fraudulent brokers from day one choose countries where regulation is weak to site their operations. It will be nice to advise traders to limit Brokers to the major three regulated centers - UK, US and Australia. Added to the that is that FPA members should intervene and structure an acceptable conditions and terms of trade that traders will only look out for. Any thing short of this will be declined. Is scalping an offence? May be yes when a trader wins but legitimate when a trader losses. It is not always when you scalp that you must win. Therefore in there reconciliation, they should dimension those losses to arrive at plus or minus. However, the broker is not aboveboard and should pay the guy immediately and stop being funny. Outright guilt..

Orah Tony O

 

[elkhorn]

Such delay is inexcusable! Guilty! Will scratch them off my potential broker list and let others know to do the same.

 

[Jeffpark]

agree except i think Cyprus might not be too good - no evidence directly, but it is an odd place to register a really clean company. In the past i have been offered Cypriot registration of businesses on the basis of rather lax regulation by the intermediary company suggesting it.

 

[lpc9898]

I smell rat on this broker......and felt very dis-hearthen for Duwi....as there are so many regulated brokers allow scalping..... It takes years and pains to mastered fx inorder to make consistent profit and now you got stuck with withdrawal problem....what a sad case....

 

[Feisal Rahimtoola]

Definitely GUILTY

 

[Pounds&Dollars]

I think empty responses is total disregard to customer service. Even if the trader has been non complaint in any requirement he still deserves to be informed about this and the consequences, with proves or references ofcourse, in a timely manner.

 

[mrgummo]

Another case of the Forex Wild Wild West environment...even regulated Brokerage firms play games, how much more so for the non-regulated. My lesson cost me 10K (ENC Alpha /ACME Hedge).

Best of luck in resolving this!

 

[Connecting]

Duwi,
Sorry to hear of your plight. In my opinion I cant see any reason for a broker not returning a person's money if you have a credit balance with them. (only exception if they suspect criminal activity- even then its a matter for the law enforcement agencies) Reading the threads in FPA is opening my eyes to the fact that most of us are minnows swimming in shark infested waters. Lack of explanation for their actions only makes them appear more suspicious. I reckon guilty.