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Investtechfx: another withdrawal problem

Discussion in 'Scam Alerts' started by monkata, Jan 13, 2011.

  1. monkata

    monkata Private, 1st Class

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    I have withdraw problem with Investtechfx as well.
    I requested a withdraw at the end of NOVEMBER and a week later I called them to check the status of my request and they said that it is being processed and a week later I got this massage:


    We would like to inform you that your account is currently under a routine review to ensure that everything is in order. Therefore you are currently unable to conduct any trading activity on your account at this time. We apologize for the inconvenience and appreciate your co-operation in this matter. We will update you shortly. Thank you.

    I called Investtechfx and they assured me that this is standard procedure and my account will resume shortly. A week later I sent them e-mail to check what is going on, but no answer. Then I sent more e-mails and called about 14 times, only 2 of those times I could talk with the manager and I got only promises.
     
    #1 monkata, Jan 13, 2011
    Last edited: Jan 19, 2011
  2. monkata

    monkata Private, 1st Class

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    The manager asked me questions like 'why I wanted to withdraw?' then she was trying to convince me that I am committed for one year, because my account was VIP, which is not true. My account balance has never reached $20,000.
    when it didn't work out with the VIP account trick, I got this:


    We would like to inform you that during a routine review by the Clearing Department of your account, it has been detected that various different IP addresses have been attempted to and successfully connected to your account simultaneously and you have been participating in High Frequency trading (HFT); which is clearly prohibited under provisions 12 and 14 of the InvestTechFx disclaimer.

    High Frequency Trading interferes in the deals electronically executed through the Liquidity Provider contravening the signals transferred between ITFX MT4 Platform and the Liquidity Provider executions, thereby imparting inaccuracies in the FX liquidity. Customers are not authorised to make trades using high frequency computerised trading techniques, to increase or decrease the transaction speed and operate more than one transaction at a particular time (simultaneously), thereby robotically increasing profits.


    Please be advised that the Clearing Department has sent us some screen shot with regards to some of your trading activity. We have attached one of the screen shots to this email and would appreciate your feedback and comment regarding the respective trade. The screen shot demonstrates that on numerous occasions more than one trade was executed simultaneously at the exactly same time or seconds apart. These are considered as High Frequency Trading techniques, which are clearly prohibited.

    Now, they are accusing me in using EA/Robots from different computers and conducting High Frequency Trading??? Although, all my trading since the opening of my account has been 100% manual.
     
    #2 monkata, Jan 13, 2011
    Last edited: Jan 19, 2011
  3. monkata

    monkata Private, 1st Class

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    My responce was:

    I looked the screenshots and I don't see various different IP addresses,
    I have been trading only from computer and my smartphone when I am not home which is not prohibited on your disclaimer, lately I couldn't even access my account from the phone because you changed your security settings and it was showing me message "public key not found" , so I was calling you 2 times to see why is not working. So How did I "trade" from various different IP addresses, when you made it impossible?
    On the first screenshot says that I am in EA group why when I never had EA on the platform and I never used expert advisor and you have that on the system. I also have this email from you,received NOVEMBER 2010:


    Please be advised that you have been removed from the EA/SCALPING Group and we have credited you the amount of $6xx.xx in commission charges. We apologize for the inconvenience.

    Sincerely,

    Customer Service,

    Investtechfx

    All my trading is manual and the entries on screenshot are not seconds apart they are minutes apart, the execution entries are slow but It is possible to make two of them in one minute,
    usually it takes between 15 to 24 seconds so there is time to place two orders in one minute,
    nowhere in your disclaimer states that you can not place two orders in one minute, or few in a minutes apart.
    Your disclaimer says: "High Frequency trading is done through sophisticated computer programs (EAs/Robots) that use a special class of algorithmic trading capable of generating vast profits within a short timeframe" - So how am I doing High Frequency trading when I trade manual?
     
    #3 monkata, Jan 13, 2011
    Last edited: Jan 19, 2011
  4. monkata

    monkata Private, 1st Class

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    Bottom line I didn't get my money, my account is not working since December 7th and nobody answer my mails.
    I am going to start leaving reviews for my broker Investtechfx!
    Can you tell me what kind of review they deserve???
     
  5. PipBiker

    PipBiker Private, 1st Class

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    Oh, come on Monkata! You know you are a "cheater" just like the rest of us traders. Why this is such a "reputable" company that I am completely surprised that you didn't just agree with them and forfeit the entire amount of your account right way. You know that you have been "counting cards", as they say in Vegas, and got caught. Why I wouldn't be surprised if "Pencil Eddie" and "Long-Fingers Louie" show up on your door step to "explain" things to you!

    (This is sarcasm if you didn't catch on)

    Monkata, keep sending emails, making phone calls, and posting here. When you get enough posts, then submit a Scam Resolution with FPA. Also, post repeated reviews on the company on every site that you can find, not just this one. If they want to steal from us, then we can hurt their business back by preventing future deposits.
     
  6. CARMELO DI NATALE

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    the same problem with Investec

    I too have the same problem with Investec
    Tonight I spoke with "Alan ", an arrogant and rude.
    I made two proposals:
    1: I send my initial deposit of € 1000 and closed the account
    2: leave my 7500 euro for the whole 2011
    I told them denounced by a lawyer in Toronto!
     
  7. monkata

    monkata Private, 1st Class

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    The list of the "cheaters" is growing a lot lately. Is it that easy to cheat a broker??? I think something is wrong with this picture. There is only one BIG CHEATER and we all know who that is!!
     
  8. monkata

    monkata Private, 1st Class

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    Don't give up. Keep calling them and posting here. We would like to hear how your case is going.
     
  9. forexspy1

    forexspy1 Recruit

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    Investtechfx Canada

    I get a last final offer release from Investtechfx in July 2010.
    They write if I wait until December 31th 2010 i will get back my Money USD 3500. We sent Emails "Withdrawmoneyorder", until now no statement no Money. Now we give it to a International Lawyer and give also the Documents to the Policedepartment and Court in Toronto and last but not least to Interpol Germany. Postings also on Facebook,FPA and other Forexcommunitys. If you was a customer from Investtechfx write us, if You have Pictures from the guys, Addresses so tell us. There is a Group of Specialists (Profiler and Marines) who fly to Toronto/London/Los Angeles/Spain for searching Alan (we know his Homeaddress) also the Technical Spider Network...
     
  10. Josh Garett

    Josh Garett Recruit

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    @forexspy
    how can I contact you ? you can send me your details to investtechfx_is_scam@yahoo.com
     

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