GUILTY Case# 2013-083 | turki vs www.hfx.com

[Master Yoda]

me too... It's supporting my campaign of ranking them SCAM

 

[George Mcall]

This remains a difficult one. As turki points out many people prefer to be anonymous with their domain ownership. However we are dealing with an investment offering to the public and I would expect a little more transparency. The fact that the operation is completely unregulated without any ties to a particular country. Further on their 'About us' section they say:

HFX was established by an experienced group of professional Forex traders, software developers, and financial experts to provide market investors from around the world with leading tools, information, and financial services. Our unique Forex brokerage company provides a wide range of trading options, platforms, and strategies for investors who want to succeed in today’s exciting and rapidly expanding Foreign Exchange Market. The comprehensive and personable services at HFX allow Forex traders to utilize diverse strategies to reach specific financial objectives during all market conditions.

This is almost meaningless.

Thus everything would tend to point to their being up to no good. However since this is a effectively a criminal court, the criminal standard of proof must apply. In civil cases the civil standard of proof is the balance of probabilities. In a criminal court the standard of proof is beyond reasonable doubt. Thus if the civil standard of proof were to apply, it is my opinion that on the balance of probabilities, they are guilty. However I cannot say that I am convinced of their guilt beyond reasonable doubt. Thus on that basis I must enter a verdict of not guilty.

 

[Pharaoh]

Think about it. How would a real judge react if there was either a civil or criminal case and the defense didn't bother to make an opening statement, closing statement, or to submit even a single piece of evidence?

The FPA is much closer to a civil court. The FPA has no power to send anyone to jail, no matter what they've done. The FPA can't even impose a fine. The only penalty the FPA can impose is warnings on a review page that could escalate to a scam finding.

The standard the FPA has used since formal scam findings were implemented is "based on the available evidence". If HFX doesn't bother to show up, then the assumption is that the client's story is 100% correct.

On that basis, if HFX doesn't bother to show up, then I see no other option than a vote of Guilty.

 

[Master Yoda]

well also in the civil and the criminal court if one of the parties is failing to show up- the court will happen without his presence

 

[turki]

Dear sir,

I have sent an email to support@hfx.com as beatlush requested and awaiting their response.

Thanks

Turki

 

[Master Yoda]

guilty as hell.
They are rude scammers and FPA should finally rank them as scam

 

[claretblue]

The reason people don't usually show up in court, is that they are heading for the border with great speed. I wonder why?

 

[donkouk]

Hi guys, I am sorry to hear about this Turki. My experience involves several calls they made to me trying to convince me to deposit money the last at least 4 months!!!(doesn't sound right). Initially they called me out of the blue, I had never had any interest of visiting their website or any of their ads and leave my phone(suspicious). They try to become "friends" with me (suspicious) by asking more friendly basic questions and also by explaining to me the benefits of their company, why to deposit . Common thinking dictates to understand that if a person or a software can promise or guaranty an increase in your money that is not realistic and also you are not aware how they operate, how transparent they are Its probably a scam. You wouldn't walk with 10 K in your pocket in a dark narrow road ah? This is what you done, apparently.

I asked them where are they based, they replied in London. They gave me an address as well, a big City building, around Moorgate, Can't remember tbh. however I really doubt it if they are based there. Funny thing I dont live far from there so when i get the next call I can Insist to visit them before.. deposit money. Also the numbers they call me seem to be UK landlines BUT most numbers starting with 0203******* are Internet numbers. I have hear also they are based in Israel. I cant confirm this.

I would suggest to Invest only In brokers that show less interest than you of initially deposit money. a broker that is transparent to a degree that you feel comfortable not pressurized. A broker that has an address, in case you want to visti them for a coffee...

The ppl that call us back are TRAINED TO CONVINCE US, we definitely know more than them about FX. Feel confident to open a conversation to a level that you will understand how much they know about FX. They know S**T.

You had to try to withdraw some money to see what will happens. Has ANYONE tried ? Do they call you from UK numbers only?

Good LUck !! BUrn THEm DoWN!!!!

 

[George Mcall]

Think about it. How would a real judge react if there was either a civil or criminal case and the defense didn't bother to make an opening statement, closing statement, or to submit even a single piece of evidence?

The FPA is much closer to a civil court. The FPA has no power to send anyone to jail, no matter what they've done. The FPA can't even impose a fine. The only penalty the FPA can impose is warnings on a review page that could escalate to a scam finding.

The standard the FPA has used since formal scam findings were implemented is "based on the available evidence". If HFX doesn't bother to show up, then the assumption is that the client's story is 100% correct.

On that basis, if HFX doesn't bother to show up, then I see no other option than a vote of Guilty.

I disagree with the concept of finding guilt merely because a broker does not show up. It is a huge honour that we are able to vote in respect of conduct of brokers. FPA has a massive reputation which is respected throughout the forex world. It is important that people only vote guilty where there is guilt beyond reasonable doubt. If people vote guilty just because the broker does not show up, the court will become what can only be described as a kangaroo court and lose all validity. It is for that reason I am voting not guilty.

 

[Master Yoda]

I disagree with the concept of finding guilt merely because a broker does not show up. It is a huge honour that we are able to vote in respect of conduct of brokers. FPA has a massive reputation which is respected throughout the forex world. It is important that people only vote guilty where there is guilt beyond reasonable doubt. If people vote guilty just because the broker does not show up, the court will become what can only be described as a kangaroo court and lose all validity. It is for that reason I am voting not guilty.

With all due respect, Turki and other people who complains showing evidence which is support their complaint and which is examined by the relevant parties.
According to what you are saying, the best solution for companies to avoid guilty decision is to ignore the FPA official invitation. FYI, in this case the company did reply once or twice but nothing really happened since then.
Generally speaking, the FPA is a well-known platform for complaints and most companies are taking complaints seriously and resolving cases before it gets to court. Of course even if the company ignores, it doesn't mean that any unanswered complaint is going to court.