GUILTY Case# 2017-138 | Tebogo vs axecc.com

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

  • Guilty

    Votes: 54 98.2%
  • Not guilty

    Votes: 1 1.8%

  • Total voters
    55
  • Poll closed .

Tebogo

Private
Messages
29
Original FPA Traders Court Submission:

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

My Case is: I opened an account in October 2017 with Vortex Capital Ltd using AXECC software platform for trading. A lady by the name of Monica opened an account for me and handed over the account to wealth manager by the name of Frank Lewis. Frank traded the account on my behalf and he was not trading the account on daily basis. According to him the reason for not trading my account consistently was because he trade accounts from ($10000 - $100000) so he kept on asking me to to increase my $1000 deposit so that he can trade my account like other accounts.

After 4-6 weeks he ask me to increase the amount and if I fail to increase the amount he will give my account to junior broker. In October as I was not happy with my account performance I told him that I intend to close my account because I wont also allow him to gamble with my money by handing over my account to a junior broker but he convinced me not to close the account and promised to continue trading my account.

As per our discussion I allowed him to continue trading my account but the account was never traded since from that day so I wrote him a whatsapp message informing him that I am closing the account and on 18 Oct 2017 I made a $1500 withdrawal and the request was never processed and I wrote his assistant(Jezebel) the whatsapp message asking her why are they not processing my withdrawal request. The following day Frank Lewis contacted me and tried to convince me not to close the account but I insisted. He told me I wont be able to withdraw because I agreed to keep the money with them for 3 months so if I want to withdraw I can only do so month end of November. Month end November I was contacted by Frans van Doorn after reminding Frank on whatsapp about the withdrawal. He introduced himself as Mr Frank Lewis replacement and ask me why I want to make withdrawal and I gave him my reasons. After failing to try to convince me he agreed to close the running trades and tomorrow on 01 Dec 2017 he will processes the withdrawal request.

I waited for him and after I realized that he is not responding to my messages I proceeded with the withdrawal request. I left Jezebel messages asking her to tell Jonas to contact me and subsequently I also ask her to tell Frank to contact me also but no responded.


I wrote emails to Monica,Frank and Jonas and non of them has responded to my emails. The support team do respond but they only say they have informed the account manager and consultant and they will call me back. I have not received any call or a reply message since my request.

New thread in the Scam Alerts Folder:

Review is submitted by Vortex Capital Ltd on 12/05/17

The company was first contacted about the issue on 10/17/17 the last contact was on 12/07/17

Details: The only response that I got from Jezebel is that Frank is in a meeting and he will call me back.
Support team their response was they have told the account manager and consultant I must not worry they will call me.

The three company representative listed below #7 did not respond to my emails

Company representatives' emails: Jonas Van Doorn <jonas.vandoorn@axecc.com>
Frank Lewis <frank.lewis@axecc.com>,
Monica Monti <monica.monti@axecc.com>,

 

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AsstModerator

FPA Forums and Reviews Admin
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5,577
You invited them to your Scam Alerts thread on Friday. Please post an update tomorrow to let me know if you've heard anything back from them or not.
 

Tebogo

Private
Messages
29
You invited them to your Scam Alerts thread on Friday. Please post an update tomorrow to let me know if you've heard anything back from them or not.
No respond from anyone and the losing account position is closed. The remaining balance is around $200
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,577
I've just sent the formal FPA invitation. Please post an update on Tuesday the 19th to let me know if you've heard anything new or not.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,577
I've received this reply from Jonas...

"Hi... i don't want to discuss nothing with no one there.... If you want, i can explain here, and you later can arrange whatever you like...
The idea is that the client agreed with the terms and conditions, and our policy on the managed accounts for 6 months, that he will not withdraw... We are gonna trade for the client till that time, in order to gain from the volumes and commissions.... Its a Managed Accounts, like an Hedge Fund , so clients must wait the expiry time, before making any movements on their accounts....
This client entered on October 2017, and wanted to withdraw all within a month, that is not possible by the rules established since the beginning with Frank Lewis, his broker...
Client keeps writing to Monica, a sales agent, who doesn't have nothing to do in this case, she also helped the client with the documents and making the deposit ....
Clients account is in profit as the agreements were at the beginning of the period, so from our part, we are alright and professional, and don't want to deal with clients who we agree for something, and the next day, comes up with a total different story and conditions....
No one is complaining from my company except this client without no valid reason ...
We are a serious company that try to minimize problems that we can have with clients, we want to keep informed everyone about everything .....
Best Regards !"

My reply...

"Hello Jonas,

Your client reports that he was made aware that he could not withdraw in October, but was told he could withdraw on December 1st. He reports his withdrawal request still has not been honored.

If you don't want to keep him as a client, that is your decision. Only 1 question remains. When do you intend to send him his money?

Best regards,
Bill"

One question for you. What kind of account do you have? Was it a HF Semi Auto-traded or a PAMM account or something else?
 

Tebogo

Private
Messages
29
On 22 October I wrote a whatsapp asking Frank what is delaying the money transfer and he called me back and told me I can only withdraw month end because I signed a 3 months contract so on the 30th November Jonas called me and explained that he is replacing Frank and so I didn't entertain his attempts of trying to convince me to change my mind. At that time during our conversation there were two position running at a profit and he explained that he had to close those positions and h
I've received this reply from Jonas...

"Hi... i don't want to discuss nothing with no one there.... If you want, i can explain here, and you later can arrange whatever you like...
The idea is that the client agreed with the terms and conditions, and our policy on the managed accounts for 6 months, that he will not withdraw... We are gonna trade for the client till that time, in order to gain from the volumes and commissions.... Its a Managed Accounts, like an Hedge Fund , so clients must wait the expiry time, before making any movements on their accounts....
This client entered on October 2017, and wanted to withdraw all within a month, that is not possible by the rules established since the beginning with Frank Lewis, his broker...
Client keeps writing to Monica, a sales agent, who doesn't have nothing to do in this case, she also helped the client with the documents and making the deposit ....
Clients account is in profit as the agreements were at the beginning of the period, so from our part, we are alright and professional, and don't want to deal with clients who we agree for something, and the next day, comes up with a total different story and conditions....
No one is complaining from my company except this client without no valid reason ...
We are a serious company that try to minimize problems that we can have with clients, we want to keep informed everyone about everything .....
Best Regards !"

My reply...

"Hello Jonas,

Your client reports that he was made aware that he could not withdraw in October, but was told he could withdraw on December 1st. He reports his withdrawal request still has not been honored.

If you don't want to keep him as a client, that is your decision. Only 1 question remains. When do you intend to send him his money?

Best regards,
Bill"

One question for you. What kind of account do you have? Was it a HF Semi Auto-traded or a PAMM account or something else?
My reply...

Herewith attached evidence of what transpired/ communication between me, Jonas and Frank from 22/10/17 to 05/12/17. What I have to add in addition to emails is that Jonas called me on 30/11/17 after sending me his introduction email, I did not succumb to his pressure of cancelling my withdrawal request and so he explained that he has to close two opened position first before he can be able to start with the transfer. He closed the call by saying he will call me tomorrow to proceed with funds transfer. I was surprised later when I found out that he indeed closed those two positions but immediately opened another position which was not part of our conversation.
 

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AsstModerator

FPA Forums and Reviews Admin
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5,577
Do you remember if your account Was a HF Semi Auto-traded account or a PAMM account or something else?
 
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