GUILTY Case# 2014-085 | CBuilder vs fxcast.com

[F***X]

No doubt this is a tough business, and a good portion of your success depends on your due diligence in finding a reputable broker. This is where FPA can be of great assistance in avoiding the bad brokers which can be a daunting task if you try to go at it alone, first of all because of sheer number of scam brokers out there with a business plan to steal your money. In this case the red flags are glaringly obvious:
1. no direct phone number.
2. No real personal contacts, i.e: Company director, president, client support
3. No real business reputation
4. Look and feel of a functional brokerage infrastructure i.e.ping servers, net stats details etc..
If a broker has not made even the most minimal investment in their server network,
the tell tale signs will be noticeable and minor stress / regression testing may expose weakness

It's better to take your chances with a reputable broker, than it is to gamble away on an unproven deal with a shady con artist luring you in with whatever you want to hear mumbo jumbo...

 

[JohanL66]

I vote guilty

1. They have to let ppl know at least 2 weeks before, that your account is about to close do inactivity
2. They don't have the right to keep your money they have to send it back when they close your account.
3. When don't send back your money...to m this is stealing and they can go to Jail for that
4. After repeatably trying to contact them without any response...to me they are guilty

I hope you still get your money back
You have to fight for it...

All the best

Johan

 

[CBuilder]

Hello,

only for full transparency may you prove that the account is real and not a demo?. I can't figured out from attached .png.
I also found this regard, the company behind FXcast: http://www.fscmauritius.org/media/1...suspension_of_licences_of_surplus_finance.pdf

Once established the above, and considering that the current rating of FXCast here on FPS is 2.5, other investors may fall into the trap. Myself some time ago I dreaded the idea to open up an account on them.

Ready for guilty button.

First i would like to thank everybody for thier posts.

Unfortunately i dont have anymore access to my account, so i can't get any more proofs, you can even find that the terminal in my screenshot has no connection and the account information is coming from MT4 cache. But an easy way to tell a demo from a live account in MT4 is the icon of the small guy next to the account number and name in the navigator window, when an account is a live account this icon has golden color (the way it is in the screenshot) and when an account is a demo account, this icon is colored in green color instead.

Besides, i think that more than 1 month of silence after the many contact attempts done from my and FPA side are strong proof that they are not willing to cooperate to resolve the issue and defend themselves, this is if they are still in business in the first place, thier website looks abandoned to me now anyway!

 

[Growmore]

Growmore

Their website looks impressive but they cannot close your account without prior notification and they are bound to refund the balance in the account if they do close it. They have done neither - I vote guilty.

 

[Pharaoh]

I think FxCast may be going out of business. AsstMod said his email to them bounced. That's not a good sign.