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GUILTY Case# 2018-061 | Aport888 vs FXGTrade.com

Discussion in 'Guilty Verdicts' started by Aport888, Mar 15, 2018.

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

Poll closed Apr 8, 2018.
  1. Guilty

    55 vote(s)
    98.2%
  2. Not guilty

    1 vote(s)
    1.8%
  1. Aport888

    Aport888 Private

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    Original FPA Traders Court Submission by Aport888:

    I am submitting the case against: FXGTrade

    My Case is: Correction to the amount that was lost: I re-calculated my all payments to FXGtrade and the amount I invested is $81956. Almost 82000 US dollars.

    I opened a trading account with fxgtrade.com in November 2017 and made my first deposit on 27th November, 2017. It was just for $250. The broker named Igor Levinskiy insisted that I add more money to get some serious profit so I added another 2000 USD. He made some profit for me and suggested that I invest at least $20000 to be able to buy a bitcoin and the company would add the same amount as a bonus. I sent them $20000 by wire transfer in mid-December 2017. Everything was going well until 29 December when most of my trades which I had opened at his recommendation had extremely large losses. They told me my trading acct was under the threat of being completely burnt and insisted that I add more money. So I kept adding more and more money and by 4th January, I had already invested more tan 60000 USD. Still, my acct was totally burnt (lost) on that day. They told me if i I wanted to recover the acct, I needed to send 10% of 65000 USD. I did and my trading acct was recovered. They had been trading since then and pressured me to add more and more money which I foolishly did. On 23 February, 2018, when I told them I wanted to withdraw all my invested funds they told me they would send me bitcoins through the site orangecoin.com and I just needed to get registered on the site and buy 0.2 btc. I reluctantly agreed and sent 2000 euro to orangecoin.com. The brokers that were dealing with me at that time were Edgar Schmidt and Erik Lewandowski. Once they got this 2000 euro from my orangecoin.com acct, they stopped responding to me completely and I have not heard from them ever since. I have all recorded phone calls with them, Skype communication and emails. The total amount that I lost through them is 82000 USD.

    Here is more detailed information that I provided in my thread in the Scam Review folder while responding to FXGtrade representative:

    When I first joined the company in November, I explained to FXGtrade brokers that I was a novice at trading, I had never done it before and didn’t know my way around it. They told me not to worry because they would assign to me very much professional and experienced brokers with 7-17 years of experience in the industry. They told me I should trust them and open trades at their recommendation. After these several months of trading, I can attest now that opening trades at FXGTrade broker’s recommendations, I have observed losses the majority of the time. I now realize that they did it intentionally to bring my acct to critical points so that I add more and more and more money! Then they would wipe off that money of my balance and add it back as “bonus” money! That’s exactly what happened in the 2nd instance.

    FXGtrade,

    1. First of all, I know I sent my funds to you myself and you have DODs. That's totally irrelevant since I never said I did not send the money myself. The same with the withdrawal, I already mentioned in my posts that I had withdrawn 1000 dollars early on after a week-long wait in early December when broker Igor Levinskiy wanted to prove to me that withdrawal process works smoothly. At that time he was persuading me to send $20000 to buy a bitcoin.

    2. Second, all of the trades that produced the BIGGEST LOSSES were opened ONLY at your brokers's recommendations. To prove that, I have a recorded call with Igor Levinskiy that we had on 26 December, 2017, when he told me to open 10 lots for NGAS for Sell, 8 lots for XAUUSD for Sell and other lots like USoil, USDJPY, USDZAR etc. I'm also attaching here a screenshot of his Skype messages where he instructed me to open 8 lots XRPUSD for Sell on the same day.The trades with Ripple, NGAS and XAUUSD were the most losing trades. The Trade with Ripple (8 lots) resulted in 123270 USD Loss!!! The trade with XAUUSD resulted in more than 35000 USD loss! Starting from 28th of December, Igor L. and Edgar Schmidt pressured me to pump in more and more money to "save" the account as they were telling me. Still, the acct was totally destroyed on the 4th of January, 2017!

    3. After Igor L. suggested recovery of my account on 5th of January, I had to send from my bank card more than 7000 USD and my acct was "recovered". On 15th of January, I got a new broker Erik Lewandowski. On 22nd of January, he told me to open a huge amount of lots such as USOIL - 30 lots for Sell, EURUSD - 10 lots for Sell. Within a few days, these trades led to HUGE losses and on 29th of January, Erik L.called me and said - "Company will close this almost $50000 loss on USOIL trade at my expense since it was my error. It was my erroneous trades so they will deduct that 50000 from my salary." After that, $50000 was wiped off of my balance and added again as "bonus" money. Plus, I sent from my card $1000 and $2000 to recover ethereums per Edgar's' S. and Erik L.'s suggestion. That $3000 which I sent from my card was also added as bonus money! Plus those "recovered" ethereums were sold and $30000 resulting from that sale were also added as bonus! I have that recorded phone call sa well.

    Attached below:
    1. Skype correspondence with Igor Lewinskiy on the 26th of December in which he instructed me to open the trades which led to my trading account being completely lost on the 4th of January, despite all the added funds.

    2. My email to Edgar Schmidt after the loss of account in which I told him that due to Igor Lewinskiy's errors, my acct was completely lost. I sent that email on the 5th of January. Plus my Skype correspondence with him which proves that all big losing trades were opened at the recommendations of the FXGtrade brokers.

    3.Skype messages with Erik Lewandowski's instructions to open trades which had significant losses within a few days ( $42600 loss on USOIL trade).

    4. Skype correspondence with Edgar Schmidt

    New thread in the Scam Alerts Folder:
    FXGTrade.com - scammer that won't return my funds!

    Review is submitted by Fraudulent company that stole from me $75000 on 03/01/18

    The company was first contacted about the issue on 02/28/18, the last contact was on 03/08/18

    Details: Hello, Aport888

    We checked the history of your actions on the trading account and found out that there really recorded a loss-making trend. But we must declare that you contributed funds to your trading account by yourself. Our support team was providing you with advice during the trade, but, alas, you ignored our advice. According to the Terms and Conditions (fxgtrade.com/wp-content/themes/fxgtrade/document/Terms_and_Conditions_2017_1.pdf), we are not responsible for our customers` losses.

    Each deposit you replenished is supported by the documents which you have signed. An unprofitable account is the result of your activity and we have nothing to do with it.
    In addition, according to our data, there was a funds withdrawal from your trading account after to your request. At that time there was a real profit on the account, which we transferred to you. We always withdraw funds and follow the Terms and Conditions and other documentation of our company. We are sorry that you suffered losses, and we will do our best to make your next experience successful!

    Respectfully,
    FXGtrade customer service department
    e-mail: support@fxgtrade.com
    Phone:+442031293626

    #9FXGTrade, Mar 6, 2018

    Company representatives' emails:
    Edgar Schmidt <Edgar.Schmidt@fxgtrade.com>
    Erik Lewandowski <Erik.Lewandowski@fxgtrade.com>
    Igor Levinski <Igor.Levinski@fxgtrade.com>

    Attached Files:

    1. Skype Igor L.told me to open 8 lots Ripple for sell 26 Dec 2017.pdf
    2. Erik Lewandowski told mr to open USOIL 30 lots 22 Jan 2018.pdf
    3. Skype messages with Edgar Schmidt PDF.pdf
    4. Skype .messages with Erik L. who scammed me to buy 2000Euro of BTC on orangecoin.pdf

     
  2. Aport888

    Aport888 Private

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    I also have recorded phone calls with Igor Levinski, Edgar Schmidt and Erik Lewandowski that support my testimonies. I placed them in Dropbox .The phone calls are in Russian. Please let me know if you want to get access to them.
     
  3. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    I don't speak Russian. For now, let's go with what we have in English.

    I'm about to send the FPA invitation asking them to come back to your thread. Please post an update in this thread on Wednesday the 21st to let me know if you've heard anything new from them or not.
     
  4. Aport888

    Aport888 Private

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    Thank you for your reply. I will do.
     
  5. Aport888

    Aport888 Private

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    Hello
    I have not heard anything back from fxgtrade.
     
  6. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    Sorry for the delay. Things have been very busy.

    I also have not heard back from them. Since they don't seem to feel like talking, this is now going to Open Cases. Normally, the vote would start at the beginning of next week. I won't be available to start the vote, so it will be delayed to the following week.
     
  7. Tryingtrader

    Tryingtrader Sergeant

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    These scamming companies love to do this. They always claim 'it is not their fault', 'the client made the decision', 'you were not forced to trade', 'read the terms and conditions' etc, etc. BUT the truth of the matter is that their prime object is simply to separate you from your money while pretending to offer a professional brokerage/trading service. Upon opening a new account you will be stroked and patted and you will listen to the silver tongue of the so called 'account managers'. They will promise wonderful and easy profits - you do not even have to know how to work the market, they will give you all the advice you need - they will tell you what to risk and on which instrument. When the honeymoon period is over and you can see some tidy profits in your account, that is when the losses start. The smart people then ask to withdraw their money and close the account, only to be told this is not possible - terms and conditions are quoted. You have to continue trading, or they will trade for you!. As the losses mount you are told these can be recovered, just put some more money in your account and they will get back the losses - only these new funds are also lost. Any complaints are responded to with "It's your fault, no one forced you to trade - here are the T&C's".
    The truth is the account managers have no real trading experience, the trading platform is all 'in-house' and you are not in a live market but betting against the brokers themselves on their closed system. It is all an illusion and designed so that you will loose all your money at a rate they see to be appropriate, asking for further deposits from you if they think you are foolish enough. If you protest too loudly, they just refuse to communicate, if you ask for a withdrawal they say they sent it - but it's never really sent. If you threaten any action of protest or complaint, then they quote their terms and conditions ....... The bottom line is, these are all scammers and bandits who hide behind a professional looking website, but it's just a front. Tens, if not hundreds of thousands of people have been ripped off in this way over the last ten years or so, myself included. Millions and millions of hard earned cash and savings have been stolen. We could find them guilty here in a traders court, but really they should be behind bars in a real prison!
     
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  8. Aport888

    Aport888 Private

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    Yes you have described it all thoroughly. I wish I had known all this previously. The only thing I can't understand is if this has been going on for the last 10 years, why don't the government's ban this kind of companies? Why do these scanners feel totally free to cheat people and rob them of their money? Why do govts of countries such as Israel, the UK and others let them get away with anything they do and remain unpunished? It's like a robbery in the broad daylight. Most people in power are well aware of that and yet do nothing??
     
  9. Aport888

    Aport888 Private

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    Thank you. I'm not very much familiar with how to use this forum yet. Is it possible to send you a private message? I just have a few questions related to this matter.
     
  10. Tryingtrader

    Tryingtrader Sergeant

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    You really should file a complaint with your National Fraud Action authority and also make a Chargeback claim with your bank if you used a card to fund your account (stating the promised services were not received). They may try to decline your request, but if you state the services promised and paid for were not received by you they have to accept your claim (provided you file within their qualifying period - which is usually 3 - 4 months. Also report this theft to the police and any other official financial authority in your country. Tell these scammers you are doing/have done this. They may offer you a partial refund if you sign their document stating you have no complaints against them and you are happy with the service you had. DO NOT SIGN ANYTHING, These people are professional crooks and if you sign they still won't send any money, or say they have but it mysteriously never shows up.
    Unfortunately your story is identical to thousands of others who also lost small fortunes - and retired hurt, blaming themselves. Fight these bandits by filing official complaints with the authorities - as many as you can. Up until recently it was hard to get any response and support from the authorities, but recently publicity has put these cases into the forefront of the complaints departments. DO NOT agree anything with FXGTRADE.COM unless the money is back in your bank account. Get angry and get results, it's your money they have stolen!
     
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