GUILTY Case# 2017-047 | collin1 vs gkfx.co.uk

Based on the available evidence, do you believe that GKFX is Guilty?

  • Guilty

    Votes: 90 98.9%
  • Not guilty

    Votes: 1 1.1%

  • Total voters
    91
  • Poll closed .

collin1

Private, 1st Class
Messages
52
Original FPA Traders Court Submission:

I am submitting the case against: gkfx

My Case is: I have used gkfx for quite a while. actually back a few years ago i lost a lot of money trading eur/aud around -40k loss. I was quite shocked but okay perhaps it was my fault.
but recently they held a promotion for a £15000 deposit bonus with a requirement of £2 spreadbet for every £3 bonus. i fulfilled the terms of the bonus and did the trades. They then converted the bonus into cash. a few weeks later when i needed a withdrawal they suddenly confiscated my bonus funds saying my trades were not at peak times with enough risk for them so they have a right to confiscate my bonus. The trades were held for at least around 2 minutes and were not scalping I was shocked that a large forex broker could fathom doing this which is totally illegal.
It seems like because they are counter party to the trade they hope clients will take massive risks and loose there money fast and gkfx will pocket it. so if one does not take the risk they desire they feel that they can confiscate the bonus. If they would specify how much risk one needs to take (i don't know how they would do that though) in the terms and conditions then that would be fine as they can choose any clause they wish if it is clear.
I therefore have no other option but to make a court case here so the general public can vote. If anyone needs more details please pm me and if the nature of the question is nothing personnel i can provide a response.

I do hope that it is not in gkfx best interest to have negative publicity and will remove this case as soon as gkfx rectifies what they have done.

r,b.

kind regards

New thread in the Scam Alerts Folder:

Review is submitted by collin1 on 05/14/17

The company was first contacted about the issue on 05/01/17 the last contact was on 05/05/17

Details: a few weeks later when i needed a withdrawal they suddenly confiscated my bonus funds saying my trades were not at peak times with enough risk for them so they have a right to confiscate my bonus. The trades were held for at least around 2 minutes and were not scalping I was shocked that a large forex broker could fathom doing this which is totally illegal.

Company representatives' emails: heiko mueller <heiko.mueller@gkfx.com>
compliance <compliance@gkfx.com>
support <support@gkfx.com>

 

Attachments

  • gkfx history.jpg
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collin1

Private, 1st Class
Messages
52

Attachments

  • NEW T&Cs July - Sept SB Cash Bonus 30  2016-page-001.jpg
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  • NEW T&Cs July - Sept SB Cash Bonus 30  2016-page-002.jpg
    NEW T&Cs July - Sept SB Cash Bonus 30 2016-page-002.jpg
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  • NEW T&Cs July - Sept SB Cash Bonus 30  2016-page-003.jpg
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  • NEW T&Cs July - Sept SB Cash Bonus 30  2016-page-004.jpg
    NEW T&Cs July - Sept SB Cash Bonus 30 2016-page-004.jpg
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AsstModerator

FPA Forums and Reviews Admin
Messages
5,594
For some reason, I've had about a month's worth of work dumped on me this week. Add that to the leftovers from last week and I'm a little behind. I'll try to take a look at this early next week when I have enough time to read it all carefully.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,594
So their website is gkfx.co.uk, but the email addresses are GKFX.com?

Please email the link to your Scam Alerts thread to all the email addresses you have for them. Post an update here and in Scam Alerts when you are done.
 

collin1

Private, 1st Class
Messages
52
i hope i have done as you requested as i havn't quite understood what you meant about a link

please let me know if you need anything else

thank you
 
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