GUILTY Case# 2018-086 | surekap vs AXNFX.COM

Based on the available evidence, do you believe that AXNFX.com is guilty?

  • Guilty

    Votes: 57 98.3%
  • Not guilty

    Votes: 1 1.7%

  • Total voters
    58
  • Poll closed .

surekap

Recruit
Messages
12
Original FPA Traders Court Submission:

I am submitting the case against: AXNFX.COM

My Case is: MY NAME IS KIRAN KUMAR AND MY AXNFX.COM ACCOUNT ID : 2096574736

Employee of AXNFX.COM Mr. Aryan called us through a common friend (Sridhar) and solicited that if we open the account with them there will be good profits and told that that they have professional research team. Withdrawal process also very easy. He called 2 or 3 times and solicited us to open the account. We said we need some time...

Again one day he called and explained that “ Today is Super Friday/Black Friday if you open account with $1000 you will get $1000 as bonus in your account, and one more additional offer is available is that first 5 trades all profits are yours losses bared by company – This offer is valid only for today..

We asked what is this bonus? – he said bonus is Additional money into your account by our company to provide good exposure to trade and the bonus amount also yours once you completed 30 trades of 0.30 quantity.
My Self and my Friend Mr. Mani both are transferred Indian Rupees of Rs. 66,500.00 which is equal to $1000 to their Pay U money account.

Very Soon started trading and he showed some profit of $120 initially, I simply followed their instructions, with in a span of 1Month I have of Loss of $600. So many times they called me and suggested to upgrade to premium account by depositing some more money, I Said I need some time...

I really scared to trade and enquired my friend Mr. Mani he said all his money has lost because of their wrong guidance, then I called to our common friend Sridhar he said he lost almost $10000 and his account was completely wiped out because of their guidance... and he suggested me to trade your own don’t follow their guidance..

Afterwards I traded with my own strategy which worked for me I recovered my losses and earned a profit of $2221. Now my account balance is $ 4221 (investment $1000, Profit $2221, bonus $1000).

Due to some personal urgency I made a withdrawal request of $400, from then they are not responding, later they replied I have to complete 1000 trades with 0.30 quantity then only they can process withdrawal request It is their company policy.. I said no one explained or told about this at the time of account opening and while trading.
I asked them if you have any evidence show me I will obey it, they showed nothing. After 2 days

One of his directors Mr. George/james called me and said after completing 1000 trades 0.30 QTY only we will process your withdrawal request... and that is final.

If I do 1000 trades 0.30 qty their brokerage itself coming around $5000 where my investment and profit is $3221... (god knows profit or loss)

I said I don’t fulfil, I want my money back they said you will never get single penny from us...

Then I posted my review in FPA and shared the thread to them, finally they replied that I have only 2 options
1) Complete the 1000 trades 0.30 qty.
2) As a full and final settlement they will return my $1000 investment...

I replied them 2 options are not acceptable to me, return my investment and profit and close my account with you, they replied that I am not going to get single penny and they are not going to reply to our mails...

Being I am unable to get the positive reply I hereby filing a case against them in FPA and

I have proper evidence to prove my statements are true and correct, asking you to do the needful

New thread in the Scam Alerts Folder:

Review is submitted by SUREKAP SOLUTIONS/KIRAN KUMAR V on 05/03/18

The company was first contacted about the issue on 03/25/18 the last contact was on 05/21/18

Details: Reply1: They replied I have to complete 1000 trades with 0.30 quantity then only they can process withdrawal
request

Reply2: One of his directors Mr. George called me and said after completing 1000 trades 0.30 QTY only we will process your withdrawal request... and that is final.

Reply3: finally they replied that I have only 2 options
1) Complete the 1000 trades 0.30 qty.
2) As a full and final settlement they will return my $1000 investment...

Reply4: I replied them 2 options are not acceptable to me, return my investment and profit and close my account with you, they replied that I am not going to get single penny and they are not going to reply to our mails...

Company representatives' emails: George Menon <george.m@axnfx.com>
James Farank <james.f@axnfx.com>
Aryan Kann <aryan.k@axnfx.com>
Rakesh <rakesh.y@axnfx.com>
Axnfx Support <support@axnfx.com>
Compliance <compliance@axnfx.com>
FINANCE <Finance@axnfx.com>
CS <CS@axnfx.com>
INFO <Info@axnfx.com>

 

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Last edited:

AsstModerator

FPA Forums and Reviews Admin
Messages
5,594
I see you already invited them to come to the FPA and they declined. I'm sending the formal FPA invitation now.

Please post an update on Wednesday, May 30th to let me know if there has been any progress or not.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,594
Yes, Step 1 of invitations is you inviting them. Since you had already done that, I went to step 2, That's when the FPA invites them.

Please post an updated on Wednesday to let me know if they've contact you or if they posted in your Scam Alerts thread.
 

surekap

Recruit
Messages
12
Today i have log in to my Trading account, Account Value showing Zero
ALL MONEY SHOWING AS WITHDRAWAL (Copy Attached) - UNABLE TO DIGEST THIS
NOW WHERE IS MY $3221????
They are Cheating Traders Left and Right
suggest further action..
 

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AsstModerator

FPA Forums and Reviews Admin
Messages
5,594
This is now going to Open Cases for a vote. If your money shows up, then the voting can be stopped.
 

meal4wildcats

Private, 1st Class
Messages
45
Their attitude has been bad from the word go, and their ill intentions rather obvious.
Manipulating your account is showing their true colors.
From where I am looking....GUILTY!
 

Tryingtrader

Sergeant
Messages
181
This is a clear and easy vote, it;s GUILTYT!!!

I am sorry to hear of your bad 'trading' experience. However it seems you did not read any of the warnings available all over the internet and here on the FPA about the dangers of opening an Binary Trading Account without thoroughly checking out the company, its' Regulator and their terms and conditions. If you had done so you would not have opened an account with them or any other so called 'Broker'.

Here is how this scam works. They work from a pre-determined script. They get you to 'invest' money into an account on their trading platform by offering sugar coated deals and playing on your 'Fear of Missing Out', a common human emotion. They will tell you lies and make promises they will not keep. Once you have deposited your money you have lost it because it is now in their account. The number you see in your trading account is just a number - there is no real money there, any 'bonus' added is also not real money. Their plan is then to make it appear that your money is lost by trading - but no real trading takes place. You are not trading on the market but trading against the Brokers' web site! Your account managers job is to ensure you lose all the balance shown in your account and make it look like it was unfortunate trades that lost. Then ask you to deposit more money so that they can "recover" your losses. If you do, that new money will soon be 'lost' by them as well, and they will ask for even more. If you manage your own account - you are still only 'trading' on their website - and increase your account value, they will have a thousand excuses why they can't pay you. It is not real money anyway, that has been transferred long ago to their own account. Tens, if not hundreds, of thousands of people have lost money to this type of scam over the last 10 years or so - you (like me) are just another victim. They will just stop communicating with you in the belief you are powerless and will just go away. Your main option is to use your social media accounts to highlight this scam and warn others NOT to fall for these bandits tricks.

Unless there was any type of 'Safeguarding of Funds' offered by the method by which you transferred your money to their account I can't see how you can reclaim you funds. By using this forum on the FPA and inviting them to join and explain themselves (which they haven't) you have let others know the danger of opening an account with fraudulent and unregulated trading 'Brokers'. Use your social media to warn others not to make the same mistake. This scam originates from Israel and is now prevalent across the World. Hundreds if not thousands of these scamming outfits have opened up with the sole object of separating as much money from the unsuspecting public as possible before they are found out. Nations across the World are getting wise to this (and associated crypto currency trading scams) and starting to prosecute the offenders.

Here are a few web articles about what is going on:
https://www.timesofisrael.com/us-gr...d-israeli-binary-options-fraudster-lee-elbaz/

https://securitybrief.com.au/story/national-scams-awareness-week-australians-lost-340m-2017/

https://www.timesofisrael.com/european-union-bans-binary-options-strictly-regulates-cfds/amp/

https://www.financemagnates.com/bin...ns-operators-binary-options-managed-accounts/

There are thousands of other articles about this scam on the web; just Google 'Options scam' or 'Binary scam' to find them.
I hope you have some success in getting something back, Good luck.
 
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