GUILTY Case# 2016-155 | kwazycool vs mfxbroker.com

Based on the available evidence, do you believe that MFXBroker.com is Guilty?

  • Guilty

    Votes: 78 100.0%
  • Not Guilty

    Votes: 0 0.0%

  • Total voters
    78
  • Poll closed .

kwazycool

Recruit
Messages
16
Original FPA Traders Court Submission:

I am submitting the case against: www.mfxbroker.com

My Case is: I have invested with Master Services Inc, mfxbroker.com in their investment program since August 18th 2015. I started to have issues on withdrawal of my money starting July 2016. On July 1st, I requested a withdrawal of USD2128.04 but then they gave me reason about their banks asking them for new documentation and not knowing when they can release the funds. I decided to cancel the withdrawal as the local representative said that it may be faster if I used another method of withdrawal (which was actually the same bank account details either way). This is why I then requested for the withdrawal of USD5110.86. After I did this, the local representative told me that i need to split the amount to USD2000 and that balance to be transferred the following week and to cancel the existing withdrawal request. I did it and I received the USD2000 but that is the last withdrawal I received as the balance was never transferred over. I managed to speak to the local representative and he mentioned that I should do the same thing, to cancel my current request and to put in a request of USD2000. Even after doing that, there has not been any change in the status of the withdrawal as it just says "Pending". I also have another withdrawal request of $10,000 since August 20th that is also still "Pending".

At this present moment, I have a total of $24,822.52 in my wallet while I have $12,000 in pending withdrawals. I would like to get all this funds in my wallet and my pending withdrawals in total of $36.822.52 back but it is impossible to even to key in any amount at this present moment to withdraw as there is a withdrawal limit set which was not even mentioned in their website. I have pending investments still in the Investment account but I am unable to do anything as they will charge me 60% penalty fee on my principle amount if I am to withdraw the amount.

I have all the screenshots of my account and also the conversation that we had with the local representative and also the emails from the Support from mfxbroker.com that I would gladly supply to FPA if required.

In conclusion, I hope FPA can assist me to withdraw the total of $36,822.52 from my account.

New thread in the Scam Alerts Folder:

Review is submitted by kwazycool on 08/30/16

The company was first contacted about the issue on 08/06/16 the last contact was on 08/21/16

Details: On Monday, July 18, 2016, claims claims <claims@mfxbroker.com> wrote:
Hello!

Your request is not processed, since our payment processing has requested confirming documents and started audit process, so we are not able to process any transfer. These inspections are not related specifically to your transfer, many client withdrawals was stopped due to audit process.

These inspections are not related specifically to your transfer, many client withdrawals was stopped due to audit process.
That is why we are taking action to solve this problem by negotiating with other banks and payment processing for further cooperation with them.


The Financial Department is trying to speed up the audit process by providing of the full access to the company's documents and we guarantee to solve this problem in the near future.

It is your right to write to our regulator, or on the forums, but we hope for your understanding and we guarantee to resolve this issue at an early date.

Thank you
Claims department
MFX Broker


2016-07-14 14:17 GMT+03:00 Sean Lim <kwazycool@gmail.com>:
I have not received a reply on this, kindly advice?

On Wednesday, July 13, 2016, Sean Lim <kwazycool@gmail.com> wrote:
Why do I need to do this? I just want my withdrawal to be processed?! It's been 13 days since my withdrawal request was done as of now.

---------- Forwarded message ----------
From: support@mfxbroker.com <support@mfxbroker.com>
Date: Wednesday, July 13, 2016
Subject: MFX Broker
To: Sean Lim <kwazycool@gmail.com>


Hello,

Can you please resend your claim to claims@mfxbroker.com so the executive management can give you a reply directly.
--
Thank you
Client Support department
MFX Broker
-------------------------
Спасибо
Отдел по работе с клиентами
MFX Broker

13.07.2016 3:59, Sean Lim пишет:
Hi , when will I be able to receive my withdrawal? It still says pending?

On Tuesday, July 12, 2016, MFX Broker <support@mfxbroker.com> wrote:
Hello!

We bring our apologies for the delay of your transfer. Unfortunately, the bank did not notify us in time about the delays due to their request of additional documents on the transfer. We have already contacted the bank, sent all the necessary documents and waiting for the answer. We hope that your transfer will be processed as soon as posiible.

--
Thank you
Client Support department
MFX Broker
-------------------------
Спасибо
Отдел по работе с клиентами
MFX Broker

12.07.2016 2:11, MFX Broker пишет:
email: kwazycool@gmail.com
name: Sean Lim
text: I have requested a withdrawal on July 4th and up till now, I have not received a single email back other then your auto responder. I have also send several emails after that to your support@mfxbroker.com but no replies, kindly assist as soon as possible.

Company representatives' emails: <support@mfxbroker.com>
<claims@mfxbroker.com>
<malaysia.support@mfxbroker.com>

 

Attachments

kwazycool

Recruit
Messages
16
I have just sent them an email recently and the below was their standard template that I have received similarly a couple of weeks ago. They don't even remember that they have sent me the same template previously.

------------------

MFX Support support@mfxbroker.com
Hide details

To: Sean Lim
Date: September 2, 2016, 10:05 PM
Hello!

Your request is not processed, since our payment processing has requested confirming documents and started audit process, so we are not able to process any transfer. These inspections are not related specifically to your transfer, many client withdrawals was stopped due to audit process.

These inspections are not related specifically to your transfer, many client withdrawals was stopped due to audit process.
That is why we are taking action to solve this problem by negotiating with other banks and payment processing for further cooperation with them.

The Financial Department is trying to speed up the audit process by providing of the full access to the company's documents and we guarantee to solve this problem in the near future.

It is your right to write to our regulator, or on the forums, but we hope for your understanding and we guarantee to resolve this issue at an early date.

--
Thank you,
Clients support department
MFX Broker


01.09.2016 17:12, Sean Lim пишет:
Hi Support,

Kindly prolong / reinstate back the USD100 that started on Oct 14, 2015 that I accidentally stopped the investment previously.

Kindly also process all my existing pending withdrawals of $12,000 that is way overdue already.

I hope that you will process my withdrawal immediately otherwise I would have no choice but to open a court case in Forex Peace Army.

Looking forward to your fast positive reply.

Thank you in advance.

Best Regards,

Sean Lim
 
Last edited by a moderator:

AsstModerator

FPA Forums and Reviews Admin
Messages
5,554
I've just issued a formal FPA invitation. Please report back to this thread in about 48 hours and let me know if there are any updates.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,554
This is now being moved to Open Cases. If there is no progress, the voting begins next week.
 

Pharaoh

Colonel
Messages
19,729

Let's all learn a lesson from this. Bernard Madoff only offered 10% per year and was flooded with investors. No legitimate investment returns 3% per month every month no matter what else the markets are doing.
 

leesulin

Private, 1st Class
Messages
41
Absolutely guilty, they dont even have a representative that dare to reply email, and they still dare to advertise the new promotion scheme of asking friend to join.
 

George M.

Private
Messages
28
Guilty!!!! They don't care about bad reputation because their offshore companies have a lot of names...
 
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