Original FPA Traders Court Submission:
I am submitting the case against: www.sicfx.com
My Case is: I have been contacted with a forex broker called Spread International based in UAE. I agreed with them on the conditions of:
1) the leverage for all the pairs would be 1:200
2) I could use forex robots in my account
Then I started trading. The broker did not accept my trades on USDTRY and I found out that they are using 1:66 leverage for that pair instead of 1:200 as agreed.
Because of breach of leverage agreement I lost USD 8.000. I complaint about this to the company, but they told me that this was their liquidity provider's fault, thats why they did not want to refund my losses.
On their website they claim to be owned by HRH Prince of Saudi Arabia and they claim to be regulated by authorities. I found out that they are not regulated and they dont have a broker license. I suspect about their royal ownership as well because the Prince has not replied my email.
I believe they are scammers and they should be forced out of the forex market not to scam more forex investors.
New thread in the Scam Alerts Folder:
Review is submitted by ozberk on 01/14/13
The company was first contacted about the issue on 01/08/13 the last contact was on 01/16/13
Details: They have been ignoring me.
Company representatives' emails: Ahmed <ahmed@sicfx.com>
Info <info@sicfx.com>
Dalia <dalia@sicfx.com>
I am submitting the case against: www.sicfx.com
My Case is: I have been contacted with a forex broker called Spread International based in UAE. I agreed with them on the conditions of:
1) the leverage for all the pairs would be 1:200
2) I could use forex robots in my account
Then I started trading. The broker did not accept my trades on USDTRY and I found out that they are using 1:66 leverage for that pair instead of 1:200 as agreed.
Because of breach of leverage agreement I lost USD 8.000. I complaint about this to the company, but they told me that this was their liquidity provider's fault, thats why they did not want to refund my losses.
On their website they claim to be owned by HRH Prince of Saudi Arabia and they claim to be regulated by authorities. I found out that they are not regulated and they dont have a broker license. I suspect about their royal ownership as well because the Prince has not replied my email.
I believe they are scammers and they should be forced out of the forex market not to scam more forex investors.
New thread in the Scam Alerts Folder:
Review is submitted by ozberk on 01/14/13
The company was first contacted about the issue on 01/08/13 the last contact was on 01/16/13
Details: They have been ignoring me.
Company representatives' emails: Ahmed <ahmed@sicfx.com>
Info <info@sicfx.com>
Dalia <dalia@sicfx.com>