Help needed with PAMM lockin, lqdfx.com

So, you’re saying I’ve basically lost my money and will never get it back? But also they can’t get it right? Unless they make profits I guess?
How did you elect this fund manager? Who is he? Do you have his contact? If so call him to close trades so you withdraw balance. If he is not responding send PoA revocation to the broker so they cut his access to account. Then close manually trades.
If they keep spinning you around and wasting your time, file for charge back.
If fund manager is unknown then you never had a Pamm on reality. Pamm is a 3 party agreement/deal. Money manager cannot and must not be part of broker, its not allowed due to conflict of interest.
 
How did you elect this fund manager? Who is he? Do you have his contact? If so call him to close trades so you withdraw balance. If he is not responding send PoA revocation to the broker so they cut his access to account. Then close manually trades.
If they keep spinning you around and wasting your time, file for charge back.
If fund manager is unknown then you never had a Pamm on reality. Pamm is a 3 party agreement/deal. Money manager cannot and must not be part of broker, its not allowed due to conflict of interest.
Hi, thank you so much for this. I’m obviously way out of my depth on this, and feel pretty dumb. The he is a she going under the name of Caty FX. I came across her trading on EToro. The only contact I now have is via Facebook messenger. I’ve asked her to close trades and allow me to withdraw but she say she cannot do that at the moment as the account is in drawdown. I’ve said I don’t care about that, but she offers no response. In the Facebook message thread history she specifically says I can withdraw at any time if I’m not happy, because of course I did sign up to very different actual terms from LQDFX.
I’m sorry but I don’t actually understand who is the fund manager (Caty fx?) and the broker (LQDFX?). Can I just ask LQDFX to revoke poA? Is that what you mean?
 
So, you’re saying I’ve basically lost my money and will never get it back? But also they can’t get it right? Unless they make profits I guess?

Hi, thank you so much for this. I’m obviously way out of my depth on this, and feel pretty dumb. The he is a she going under the name of Caty FX. I came across her trading on EToro. The only contact I now have is via Facebook messenger. I’ve asked her to close trades and allow me to withdraw but she say she cannot do that at the moment as the account is in drawdown. I’ve said I don’t care about that, but she offers no response. In the Facebook message thread history she specifically says I can withdraw at any time if I’m not happy, because of course I did sign up to very different actual terms from LQDFX.
I’m sorry but I don’t actually understand who is the fund manager (Caty fx?) and the broker (LQDFX?). Can I just ask LQDFX to revoke poA? Is that what you mean?

when someone introduce you to use an offshore broker, it could be a fake company. what i mean is there is no real trading at all, everything is just a smoke screen to lure victims deposit the money. do you still have the deposit details? how do you put the fund in the beginning?
 
Caty FX via eToro, its a start.
Even though sh eled you to a different platform (am I correct?) you can try to explain to eToro support what happened to you so that they maybe get in touch with her. Their reaction may bring more gravity. For example you can state that she acts dishonestly and you elected her because of eToro performance. If eToro is business wise, they will see the matter as potential risk reputation, thus will act in your favor. Hopefully.
And then there is charge back as well...
Message her more directly and with a threatening tone. You decide on your own money not her.
 
I messaged Caty FX again but she does not reply to my messaged anymore. I sent an email to LQDFX telling them I want to revoke the PoA. They replied with this:

Thank you for your reply.



Before you invested, you were asked to check 2 boxes, read the Terms and Conditions and tick the box if you agree. The same for the LPOA to the fund manager, plus in big red letters, that you understand that withdrawals will be locked during open trades, if you wish to proceed.



When you had invested you had ticked those boxes that you agreed, at any point you had the opportunity to not do so, therefore not to proceed.



From what we can see, your closed losses are low, please give you account time.



We remain at your disposal.

What they are saying is correct, but of course that doesn't help me very much. I'm not sure what else to try. I will write to Etoro as suggested, but I can't see that helping much. In messages to me she wrote "at anytime funds as said can be withdrawn if you do not like the performance ". She said she aims for 10 year plus for the account.
 
Here is my response:

Dear Angelos,

Thank you for your reply.

I am well aware of the terms to which I agreed. As well as the big red letters, I also red the small black ones, which state:

"This authorization is a continuing one and shall remain in full force and effect until revoked by the undersigned by a written notice or via email addressed to LQDFX."

My previous email was quite specifically my notice to revoke the LPOA.

I thank for your assessment of my account, but respectfully advise that you are not my financial advisor, and your opinion on the matter is not requested.

What is required is for you to revoke with immediate effect the Limited Power of Attorney agreement in reference to LQDFX MT4 PAMM account number XXXXX, registered under my username XXXXXX

I trust this matter will now be attended to with the upmost speed.

Yours,
 
Hopefully this gets me somewhere. Really appreciate this space to figure it out and all the replies.
 
Hopefully this gets me somewhere. Really appreciate this space to figure it out and all the replies.
Bottom line is they cannot lock you it's your money. Lpoa revokal and take control of account your self. Then close, withdraw and that's it.
They are playing you.
 
Hmm, Im getting nowhere fast. They replied with this:


Dear Barry,

We trust you had a good weekend.

The part of the LPOA that you mention in your email refers to the success fees, which are separate terms. In case a Fund Manager changes the success fee percentage without letting the Investors know, we can then, after an email request by the Investor, change the percentage back to the initial fee.

As mentioned before, you were aware of the locked withdrawals function prior to investing, which you agreed to and you had accepted the terms. We assume now that you ticked those boxes, with no regards of the importance of reading both, which means you had misinformed LQD, that you had read the Terms an Conditions and the LPOA.

Please note that we can not simply override and process any request made by the Investors, especially at such a small percentage of loss, we would be breaking terms, which in affect would not bode well.

If you were looking for an option to withdraw your funds at any given time, you should have invested into a Fund Manager that does not have this function enabled, while opened trades. You are asking us to break an agreement with the Fund Manager, whom are also a client, we can not simply break terms at any time with our clients, this is bad business practice.

Moreover, you could have contacted our PAMM dept. to receive more information on this subject, we would have happily assisted you with making a decision.

We remain at your disposal.


Kind Regards,
 
Hmm, Im getting nowhere fast. They replied with this:


Dear Barry,

We trust you had a good weekend.

The part of the LPOA that you mention in your email refers to the success fees, which are separate terms. In case a Fund Manager changes the success fee percentage without letting the Investors know, we can then, after an email request by the Investor, change the percentage back to the initial fee.

As mentioned before, you were aware of the locked withdrawals function prior to investing, which you agreed to and you had accepted the terms. We assume now that you ticked those boxes, with no regards of the importance of reading both, which means you had misinformed LQD, that you had read the Terms an Conditions and the LPOA.

Please note that we can not simply override and process any request made by the Investors, especially at such a small percentage of loss, we would be breaking terms, which in affect would not bode well.

If you were looking for an option to withdraw your funds at any given time, you should have invested into a Fund Manager that does not have this function enabled, while opened trades. You are asking us to break an agreement with the Fund Manager, whom are also a client, we can not simply break terms at any time with our clients, this is bad business practice.

Moreover, you could have contacted our PAMM dept. to receive more information on this subject, we would have happily assisted you with making a decision.

We remain at your disposal.


Kind Regards,
quit wasting your time, the answer is basically a simple b/s (loads of). No Forex broker does this, if he is a stand up one, regulated or not.
Invite them to FPA (use invitation option) so that a few of us can shut their mouth over b/s they unload to clients. You just don't do that.
And initiate a charge back if you can, immediately, with your bank.

However on thing is very important - they admit the fund manager is a client, as well. A trader assigned to account via PoA should not be allowed that. Conflict of interest.
 
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