Help needed with PAMM lockin

Bbazzab

Recruit
Messages
5
Hello,

Can anyone please help? I invested in a PAMM account on LQDFX under the terms that withdrawals cannot be made while trades are open.

The trader I invested in promised five opportunities a year to withdraw, but after 18 months of no profit there have been none, and no commitment to any exit strategy or future change to take out funds. Trades are always open. She is essentially carrying on regardless, and not allowing an opportunity to get out.

I feel really naive and stupid for getting into this, and all I really want now is whatever funds I still have left. If there a way I can get out of this? Is this a common problem?

Many thanks in advance for any advice

barry
 

acertablet

Private, 1st Class
Messages
168
Code:
Entity Number :    84259
Entity Name : LQD Limited
Entity Type : Corporation
Status : Active

https://www.register-iri.com/corporate/business-entities/entity-search/
Contact Interpol
Code:
https://www.interpol.int/en/Contacts/Contact-INTERPOL

*Unit > Choose "Financial Crimes"
Legal/lawyer non-profit assistance
Code:
Republic of the Marshall Islands (RMI)
Majuro Office
P.O. Box 198
Majuro, MH 96960 
Tel:  692-625-8227/28
Fax: 692-625-5119
Email  : legalhelp@mlscnet.org

http://micronesianlegal.org/default.asp?secID=36
Police Department of Marshall Island : (they only have FB page)
Code:
https://www.facebook.com/MarshallIslandsPoliceDepartment
 

FxMaster

Lt. Colonel
Messages
8,819
Code:
Entity Number :    84259
Entity Name : LQD Limited
Entity Type : Corporation
Status : Active

https://www.register-iri.com/corporate/business-entities/entity-search/
Contact Interpol
Code:
https://www.interpol.int/en/Contacts/Contact-INTERPOL

*Unit > Choose "Financial Crimes"
Legal/lawyer non-profit assistance
Code:
Republic of the Marshall Islands (RMI)
Majuro Office
P.O. Box 198
Majuro, MH 96960
Tel:  692-625-8227/28
Fax: 692-625-5119
Email  : legalhelp@mlscnet.org

http://micronesianlegal.org/default.asp?secID=36
Police Department of Marshall Island : (they only have FB page)
Code:
https://www.facebook.com/MarshallIslandsPoliceDepartment
Bro Bro,

We are here to solve the problems, so I suggest you to wait until there are chances to resolve the issue. The reporting is not just an option, it will harm the money that stuck with brokers too. So, first, we suggest the OP to take necessary steps to draw their attention on the issue and try to get it to solve.
 

FxMaster

Lt. Colonel
Messages
8,819
Hello,

Can anyone please help? I invested in a PAMM account on LQDFX under the terms that withdrawals cannot be made while trades are open.

The trader I invested in promised five opportunities a year to withdraw, but after 18 months of no profit there have been none, and no commitment to any exit strategy or future change to take out funds. Trades are always open. She is essentially carrying on regardless, and not allowing an opportunity to get out.

I feel really naive and stupid for getting into this, and all I really want now is whatever funds I still have left. If there a way I can get out of this? Is this a common problem?

Many thanks in advance for any advice

barry
What reply you have received from LQDFX regarding your issue?
 

Scam Reporters

Private, 1st Class
Messages
60
Hello,

Can anyone please help? I invested in a PAMM account on LQDFX under the terms that withdrawals cannot be made while trades are open.

The trader I invested in promised five opportunities a year to withdraw, but after 18 months of no profit there have been none, and no commitment to any exit strategy or future change to take out funds. Trades are always open. She is essentially carrying on regardless, and not allowing an opportunity to get out.

I feel really naive and stupid for getting into this, and all I really want now is whatever funds I still have left. If there a way I can get out of this? Is this a common problem?

Many thanks in advance for any advice

barry
Just a sec - you put money to PAMM acct right? Did you sign a PoA? Who trades your funds? Just revoke PoA if you have one and either close manually trades or have a money manager close them, so you can withdraw your money.
 

Petezaa

Recruit
Messages
130
Hello,

Can anyone please help? I invested in a PAMM account on LQDFX under the terms that withdrawals cannot be made while trades are open.

The trader I invested in promised five opportunities a year to withdraw, but after 18 months of no profit there have been none, and no commitment to any exit strategy or future change to take out funds. Trades are always open. She is essentially carrying on regardless, and not allowing an opportunity to get out.

I feel really naive and stupid for getting into this, and all I really want now is whatever funds I still have left. If there a way I can get out of this? Is this a common problem?

Many thanks in advance for any advice

barry
Contact them directly, they should be able to help. Surely there is a way to get out of these terms.
 

Bbazzab

Recruit
Messages
5
Hi,

this is what LQDFX had to say



Thank you for your email.

We can not get involved in the risk management or strategy of the Fund managers, as they are completely independent to us.

As we are aware, the Fund manager is in contact with their clients.

Withdrawals being locked during open positions, was highlighted and you agreed to before you proceeded with the investment.

We are also not happy, when clients are experiencing draw-downs, as we offer the PAMM to be a viable solution.

The purpose of the locked withdrawal function is to protect the open trades of yourself and the positions as a whole, which is an option for the Fund manager to choose. In case a client withdraws the funds out of the account while there are open trades, the volume allocation is redistributed, which can put other investors at risk or even stopped out.

You need to get in touch with your Fund Manager and be advised further.

We remain at your disposal.

not much use unfortunately

barry
 

acertablet

Private, 1st Class
Messages
168
How the scam works, register an offshore broker with PAMM feature, marshall island is a country without financial regulator, broker can fake trading show superior profit in pamm, victims being lured into promising with high return. so victim deposited the money into managed acc

victim thinks there are "fund manager" trading their money, in fact there is no trading at all. money will be permanently stucked, broker can give any excuse such as there are open trade remaining hence cannot withdraw

so do not use broker in offshore unless theyre backed by well known broker based in 1st world country & fully regulated, as most of the trade execution always need to pass to the financial trading hub of the world such as london,ny, tokyo,sydney
 

Bbazzab

Recruit
Messages
5
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?
 
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