iForex.bg/Zifx.com threatens the FPA


FPA Forums and Reviews Admin
iForex.bg/Zifx.com threatens the FPA

Moderating reviews is hard. Companies try to leave fake reviews promoting themselves. Rarely, a company will leave fake reviews trashing the competition. One constant problem is that almost every day, someone writes a review or emails the FPA complaining about other reviewers. These people either love or hate a company. If they hate a company, they assume that all the good reviews were left by the company. If they love a company, they assume that all the bad reviews were left by competitors.

The truth is that people will have different experiences with a company. One reviewer's last withdrawal may have taken 2 days or 2 months. This doesn't mean that every withdrawal happened that quickly or that slowly. A person who stays with a trading room or forex account manager for 6 months or a year will have a much better idea of the long term performance than someone who signed up only a few weeks ago.

Within reasonable limits, the FPA lets reviewers express their opinions. There are limits to what is accepted in reviews. Some people complain that the FPA should never censor any reviews and allow everything to be posted. These people don't seem to realize that would open the door for those who love or hate companies to leave dozens of reviews trying to alter the ratings. There's already one idiot in Latvia who thought he could personally rearrange the top 10 rated forex brokerages at the FPA by leaving over 100 reviews. Worse, the reviews would quickly be filled with affiliate links and spam advertisements for non-forex products. Please check out my Worst Forex Reviews thread to see some of what doesn't make it into the reviews. Then tell me if you think everything submitted should be posted or not.

Some companies seem to think that no one is allowed to say anything negative about them. It looks like iForex.bg/Zifx.com is one of these. This is what they sent to the FPA on Friday from info@iforex.bg ...

This is official warning, made in the presence of an official notary and 2 other witnesses, in which the staff at IFOREX.BG and ZIFX.COM request you to remove the untruthful and ungrounded opinions expressed in your page at:
Zifx | iForex.bg | Zifx.com reviews and ratings
If you do not conform with the above request within 3 business days, an official complaint will be made to your host, the relevant authorities, and a court claim will made for the financial damages caused by the statements at the above page.
Regards - Marin Yanev

I still haven't decided if I find this to be more funny or only pitiful. Marin didn't bother to say which review or reviews he was talking about. The most recent one when he sent this was 5 stars, so I'm guessing it wasn't that one.

Rather than letting Gerard have all the fun, like he did with Easy-Forex when they made an unsupportable threat, I wrote the reply myself...

Hello Marin,

I'm in charge of the FPA's reviews.

This is an official notice made in the presence of the FPA Review Moderation Team as well as the FPA Scam Investigations Committee.

As you can see from the very top review left by Felix, issues with your review page have been handled before. What possible reason do you have for attempting to threaten the FPA now?

The FPA has never and will never bow to blackmail. If you have an issue with a specific review, you are free to post a "No rating" review as a company rep to correct what you feel are mistakes. If you feel that a specific review has malicious intent and can prove to me that it isn't factual, I'll deal with it appropriately.

If you continue to waste the time of your notary and other witnesses with such pointless threats, then I or someone else here will be sending a notification out to over 40,000 traders worldwide. That notification will warn them not to trust any reviews about your company since you seem intent on trying to have all negative reviews removed by threats and blackmail instead of professionally presenting facts.

I give you 2 business days to reply or else I'll have to consider posting your email on your review page and may decide to go ahead with that mailing. Either withdraw your threat or send a proper complaint backed by facts, not threats.

Bill K.

I also sent Marin a reminder note yesterday. I told him that failure to reply would be interpreted as his permission to post his message to the FPA with some commentary. He decided to not reply. Instead, a new 5 star review did show up for iForex/Zifx that accuses the negative reviewers of being psychologically unstable. Even though I really doubt the authenticity of that review, I've decided to approve it anyway. That way everyone can judge it for themselves.

Before approving that dubious 5 star review, iForex/Zifx had a rating of 1.680 stars. Adding that 5 star rating gives them 1.808 stars. I don't know how many other sites Marin made threats against. I do say that if you see a site that has nothing but good reviews for this company, I wouldn't trust it. There's a chance that those threats may have made bad reviews go away, leaving only good ones behind.

Zifx.com/iForex.bg review page at the FPA

Worst Forex Reviews – see some of what didn't make it into the review pages

Examples of good and bad reviews

Description of te FPA's rating system

General Advice for Reviewers

In the presence of my my little sister, if you don't stop talking about me I'll have to tell your mommy on you!

present only me and myself.

nobody else to witness me writing that I like your handling of the facts and your STYLE !
Guys, be careful

When dealing with genuine and trustworthy companies or individuals, one would appreciate the logic in their statements or presentations. I expect that a responsible individual will appreciate or embrace treating fellow humans or entities with absolute decorum. I have always learnt something - The tool of the devil to confuse one from doing the right thing is nothing but fear or threat. Once this is overcome, freedom is certain. One immediate inference here is that this company might not be ethical. Their corporate decisions might be anti-traders. Traders should be extremely careful with them. Thank you FPA for the good work.
No one likes to have bad things written about them or their company. Of course, anyone with any sense of professionalism and a trace of intelligence would start out with something other than a poorly written threat.

Attempts to silence opposing opinions in this way are a common warning sign for scam. Add that to their poor ratings, and this company is one I'd recommend avoiding.

In the presence of two overfed housecats, I say don't do business with this company. ;)
We second that!..... we being, me, the dog and my daughters hamster, although he's sleeping he is present.... and that's what counts right?

Good work Lieutenant & FPA team.
Man, that's nothing but good clean entertainment right there....sure nuf. :D

In the presents of my bowl of Captain Crunch I declare Marin unstable and he should either double up on his medication or stop it all together.
i've been with this service for 1 month in the past years. i'm surprised to find out it is still lucrative and was not shut down by any authorities. i am also surprised they still post on many forex sites and are not banned. maybe the forex sites administrators earn some good money out of people referred to zifx and this explains why they take no action against it???????
None of their results are real and they are a total fraud. No doubt about that. that guy Yanev who sent you the blackmail message has been charged by the US authorities for his fraud. Take a look here CFTC Press Release 5132-05
all traders should stay away from this guy and never trust his positive results. they are all fake :confused: