Original FPA Traders Court Submission:
I am submitting the case against: www.vortexassets.com/
My Case is: Hello Sir/Madam, This is to bring your immediate attention to one of the trading company named Vortex Asset. I become part of Vortex asset group in January by transferring 10K USD to become a member. As per agreement /document they will execute the trade on my account and they will charge the monthly fees of 35% on the total profit for each month. In February everything worked as per planned. My account had a profit of $1551.44 and they deducted the performance fee of $469.23. Everything was working till mid- March. As per the agreement the account holder can withdraw on quarterly basis as per the profit accumulated in the trading account. And April 1st being the first withdrawal stationed for my account.
As soon as I showed interest to withdraw the profit they started executing trades in huge loss. And now the balance has gone down and hit the principal amount. I initially thought win or loss is a part of trade but what we observe here is that they are intentionally executing the loss trades. It clearly visible from the Lot size they are trading. All my profit trades are for small lot size (like 1.39) but the loss trade lot sizes are above 2.5. Further enquiring they are asking me to opt for insurance cover- however the details of the insurance company are not being revealed. They are asking for 22% of the equity amount to buy the insurance. I am surprised which trading company provides insurance to cover the losses. I even asked them to stop executing the trade on my account and in reply they gave me another form called CTO – Cession trading Option. As per CTO they will stop executing the trades for one year but will hold the money for one year. Further enquiring about what will happened to the money after one year – their reply is the money will back in trading account. So basically they are not ready to return the money.
There is a clause that to close the account anytime within 12 months with 15% additional penalty on the profits. I was ready to follow the same but they keep asking me to sign the CTO. Currently my balance is $9344.62 which is below my initial investment of 10K. I would like you to take immediately draw your attention to the trading scam company and save investors who are in same boat as me. There are around 150 investors from Singapore stuck with Vortex asset scam. Please feel free to contact me to get more details.
New thread in the Scam Alerts Folder:
Review is submitted by sumanv on 04/18/17
The company was first contacted about the issue on 03/19/17 the last contact was on 04/18/17
Details: No response at all.
Company representatives' emails: Richard Rollings <richardrv@vortexassets.com>
Alison Lloyd <alisonlv@vortexassets.com>
Vortex Assets <assistance@vortexassets.com>
Vtx premium <vtxp@vortexassets.com>
Paul Wilkins <PaulWv@vortexassets.com>
I am submitting the case against: www.vortexassets.com/
My Case is: Hello Sir/Madam, This is to bring your immediate attention to one of the trading company named Vortex Asset. I become part of Vortex asset group in January by transferring 10K USD to become a member. As per agreement /document they will execute the trade on my account and they will charge the monthly fees of 35% on the total profit for each month. In February everything worked as per planned. My account had a profit of $1551.44 and they deducted the performance fee of $469.23. Everything was working till mid- March. As per the agreement the account holder can withdraw on quarterly basis as per the profit accumulated in the trading account. And April 1st being the first withdrawal stationed for my account.
As soon as I showed interest to withdraw the profit they started executing trades in huge loss. And now the balance has gone down and hit the principal amount. I initially thought win or loss is a part of trade but what we observe here is that they are intentionally executing the loss trades. It clearly visible from the Lot size they are trading. All my profit trades are for small lot size (like 1.39) but the loss trade lot sizes are above 2.5. Further enquiring they are asking me to opt for insurance cover- however the details of the insurance company are not being revealed. They are asking for 22% of the equity amount to buy the insurance. I am surprised which trading company provides insurance to cover the losses. I even asked them to stop executing the trade on my account and in reply they gave me another form called CTO – Cession trading Option. As per CTO they will stop executing the trades for one year but will hold the money for one year. Further enquiring about what will happened to the money after one year – their reply is the money will back in trading account. So basically they are not ready to return the money.
There is a clause that to close the account anytime within 12 months with 15% additional penalty on the profits. I was ready to follow the same but they keep asking me to sign the CTO. Currently my balance is $9344.62 which is below my initial investment of 10K. I would like you to take immediately draw your attention to the trading scam company and save investors who are in same boat as me. There are around 150 investors from Singapore stuck with Vortex asset scam. Please feel free to contact me to get more details.
New thread in the Scam Alerts Folder:
Review is submitted by sumanv on 04/18/17
The company was first contacted about the issue on 03/19/17 the last contact was on 04/18/17
Details: No response at all.
Company representatives' emails: Richard Rollings <richardrv@vortexassets.com>
Alison Lloyd <alisonlv@vortexassets.com>
Vortex Assets <assistance@vortexassets.com>
Vtx premium <vtxp@vortexassets.com>
Paul Wilkins <PaulWv@vortexassets.com>
