GUILTY Case# 2015-155 | quangforex vs 5starsforex.com

[quangforex]

Original FPA Traders Court Submission:

I am submitting the case against: www.5starsforex.com/

My Case is: I opened an account with 5StarsForex 3 months ago. I deposited total $2011 on it and got $1000 bonus. The chat support tell me withdrawal by Skrill is INSTALL ,they tell me if withdraw only profit they don't remove bonus. I withdrawn 2 times. First time, I withdrawn $1000 in profit.They only paid me $500. OK, no problem. Second time, I make a withdrawal request $5000 in profit on 07/27/2015 . They did not any reply within 1 weeks. After that, their suppose tell me that they will check my account within 5 working days, I wait again. After 5 working days, nothing happen. I contact support, they promise tomorrow, I wait again, nothing happen, they promise after tomorrows,... forever. When I post my thread "5Starsforex withdrawal problem" in FPA on 08/12/15 They disable my MT4, they steal my money in ballance by order 2932671 " Illegal Trade hedge -$6949.39".Next, When I submitted a 1-Star review for this broker, they refund my MT4 by order 2936786. They tell me that " You need remove 1-Star review in FPA" They will refun my account for trade 5 days, complete minimum 25 lot before withdraw all my profit and deposite amount. OK, I trade 3 days over 25 lots, I make a withdraw request all my funds on 08/24/15. They tell me wait 08/27/15 . Next, they tell me wait tomorrow 08/28/15. Next, they tell me wait 08/31/15. Next, they tell me wait tomorrow 09/01/15. Next, they tell me wait 09/04/15, Next they tell me "nothing will be..." and I open this case. Help me, thank you!

New thread in the Scam Alerts Folder:

• https://www.forexpeacearmy.com/community/threads/5starsforex-withdrawal-problem.41467/
  

Review is submitted by Quang Dung on 08/13/15

The company was first contacted about the issue on 07/30/15 the last contact was on 09/04/15

Details: 07/30/15: Alexandra - yes sir we waiting for a report wait until tomorrow morning finance will send to you
email and contact you (Don't receive anything)
07/31/15: Alexandra - sir did finance call you they will send email within few minute (Don't receive anything)
08/07/15: Alexi - ok You will be contacted in couple of hours sir
08/10/15: Alexandra - yes sir and your request we get in 4/8/2015 I think finance working with your issue
and was under auditor for 5 working days
08/11/15: Alexandra - ok I will ask now finance to send you email
still in process I think tomorrow must be ready
08/12/15: Alexandra - all your trade hedge and we not allow hedge
----------------------------------------------------------------------------------
08/25/15 : Ivan Kabinov - yes but must wait until 27/8/2015 my friend
08/27/15 : Ivan Kabinov - ok tomorrow before market close they will send to you report and allow withdraw
balance to your neteller
08/28/15: Ivan Kabinov - its must be done later today 10 pm GMT before closing market
08/31/15: Ivan Kabinov - please wait until tomorrow morning I follow up with it and in 9 am GMT tomorrow
09/01/15: Ivan Kabinov - I check with auditor and finance only in 4/9 not now
09/04/15: Ivan Kabinov - ok now they answer
and nothing will be before Monday 12 pm GMT
have many issue with your account
and will inform how much allow withdraw

Company representatives' emails: Ivan Kabinov <ivan@5starsforex.com>

 

[Pharaoh]

Yo AsstMod! It looks like Quangforex already has everything else done. Can you get the formal invitation issued when you have a chance?

 

[quangforex]

Of course, I can. Thank you for quick reply!

 

[AsstModerator]

Formal invitation issued.

 

[AsstModerator]

They replied. They want to discuss it via email. I'll email you and the company now.

 

[AsstModerator]

The email discussion of this issue has been met by continuous delays. I see no reason to wait any longer before moving this case to the Open Cases folder. Unless tracking information of a money transfer to QuangForex is provided by December 31st, I see no reason for this case not to go to a vote during the first week of January.

 

[F***X]

First of all, the good news here is that quangforex is a profitable trader, congratulations.
Secondly, www.5starsforex.com/ indicates concern about negative reviews and their reputation and they believe that that FPA can make an impact on their bottom line.
And last but not least, brokers that don't process withdrawals in a timely manner is bad, but for the reason of the removal of negative reviews can be construed as extortion.
After all, reviews are supposed to help honest brokers compete for your account, and not defeat the purpose by corruption and bad business policy.

 

[leifa]

5starforex ??!! After reading this, the name does not suit you. Guilty.

 

[novatrice1]

Hello,
First of all a good year has all the FPA team.
This complaint is justified, it is a scam and therefore guilty.
A withdrawal must be possible immediately (24 hours) It is not clear that these brokers entrusted money is not theirs
And followed an accounting must be made after each body movement.
This does not seem to be strong this company

 

[altucano]

they are bastard guilty! I hope they will use the money they stolen to us for buy medicines all their life.