IBCFX Scam Not Giving 7230 USD Profit Money

[AakaashBeri]

I opened an account with Ibcfx in august and more than 15 times asked about any lot conditions to withdraw profit before opening account.
With a deposit of 2500usd I made final profit of 7230usd in 2 weeks. Now the broker is not paying me the money.

This is cheating and fraud, its a bucket shop. The broker dint forward my trades to the exchange. Now it is having problem to pay my profit.

Its very convenient if the trader loses ibcfx get all his money and if wins just give back deposit money and forget him.
Please mark this broker as BIG SCAM and boycott it and spread more awareness for these scam brokers.

I may also launch domains to spread more awareness for this scam broker.
I have attached my mt4 statement and email with their representative.

 

[Master Yoda]

did they mention any reason why not?

 

[AakaashBeri]

I asked more than 15 times and clarified that there are no lot conditions.
Now superior representative saying it was mistake done by his junior.
This is very convenient that before depositing more than 15 times asked if I can withdraw money anytime I want and the employee says yes every time, now they saying they have to get approved by superiors an keep asking for time.
They also said they dint expect me to make profit in such a short time that why delay happening and also accepted that the trades were not forwarded because they gave me trading bonus and all accounts to which bonus is given trades they take on themselves in a very candid phone conversation because in forex all people loose money.

And with 5-8 lot traded in 2 weeks I made 7230usd profit with 2500usd.

So now they are having problem giving money. They just gave my deposit back. And now keep asking for a day or 2 or sometime a week to give the rest amount.

 

[Pharaoh]

Was there a bonus involved?

What specific conditions does the senior person claim apply to your account?

 

[Master Yoda]

They also said they dint expect me to make profit in such a short time.

they probably don't know what risk management means...
It looks like a bucketshop to me

 

[alykhau]

HEY this is one honest broker instead of blaming the client for whatever reasons they can find in their agreement they are being honest by saying they didnt expect him to make any profits lol

 

[Kumar n]

Our response to your complain ...

they probably don't know what risk management means...
It looks like a bucketshop to me

with regards to the complaint , i would like to clarify few points

Every withdrawal which is made goes through a verification process making sure that client has completed required docs
and follow the standard procedure as per money laundering act
before a account is opened client is given brief options to choose from either he goes for a classic account with bonus or ecn or stp acc
if client chooses to have a high bonus as 100% their are certain terms and condition to it
after Mr.Beri informed us of the problem with withdrawal
we launched a internal investigation
Result were as follows -
we allways keep track of all our calls , we have listened to mr.beris and sales rep conversation
mr beri was introduced to our company through a agent , our team have listened to that conversation between the sales rep and agent
where sales rep is cleary informing the agent that his client has several options to choose as bonus
either to go for spread reduction or 100% bonus or ecn , stp account
agent agreed that client is only interested in 100% bonus + (we gave client a 2 pip spread discount as a special offer)
agent was informed if he is choosing 100% bonus as mr beris intial deposit was 2500$
company will give him another 2500$ as bonus only condition that he can only proceed with withdrawal once he complete required lots as this is how we cover our risk he said it is fine
mr beri deposited 2500$ submitted docs we verified his acc and gave bonus he started trading before he was transfered to a account manager
once the account manager got his file mr beri was informed regarding the bonus condition
after mr beri put a withdrawal request which was intially rejected as he didnt complete required lots
he was informed that he will receive his profits + investment once he complete lots which was the basic condition on which this bonus was given
after that we informed mr beri that if he is not satisfied or doesnt comply with our terms and condition on which he and his agent previosly agreed on
if their is a miscommunication between mr beri and his agent Ibcfx cant do nothing about it and blaming Ibcfx for that is just trying to squeeze more out of ibcfx
we informed mr beri that he can withdraw his invesment any time he desires
we kept our word and gave mr beri his money back


Ibcfx has every right and will presue any step to fight for its reputation
as any financial company our goal is to provide excellent service to our clients
In any time if client is trying to take undue advantage of that we will take required action

 

[AakaashBeri]

Yes they cannot blame me because they also checked the phone recordings before I opened account and the senior agreed that specifically lot conditions were asked and that time they told no lot conditions for withdrawal.
Also reason is he knows I can give him more clients and can also depsoit 10-20k usd for trading so he is not going all negative. Being diplomatic.

But I am very unhappy with the experience. Making profit in forex is easier than getting withdrawals. Always choose your broker carefully.

 

[Master Yoda]

with regards to the complaint

I find your comment very disturbing:

1. An IB/agent can't decide on behalf of the trader what will be his trading conditions/bonus. This is against all rules and regulations I know, also according to what you said the trader was informed regarding these conditions in retrospect.

2. Even if you deduct the bonus in the case of no sufficient trading volume the trader still deserves profits of 7230usd -2500usd 100% bonus= 5230 USD. Based on what ground you have decided to cancel all his profits?? Are you saying that in a case where the trader is not meeting his bonus requirements you are canceling all his profits??

3. The trader claims you have not paid him because "They (the company) also said they dint expect me to make profit in such a short time"

As I see things from here- the trader is right and you need to pay him his money.

 

[Pharaoh]

I would like to hear more fron IBCFX on the points Eddiger makes.