Discuss investtechfx.com

[PipBiker]

Hi, PipBiker
did you file any complaint yet with FPA?

Yes. In discussions, but they are holding their ground that I'm a "cheater". But, I can keep trading my current account and balance provided I say nice things about them and don't try to take out money until October (at which time they will again tell me I'm a "cheater" and have to wait another year...)

Interesting information I've found through the conversations:

InvestTechFX is not a true “Straight Thru Processor” (STP) broker.

Please notice the following excerpts from emails from InvestTechFX while trying to gain access to my earnings:

InvestTechFX is a No-Dealing Desk (NDD) and a Straight-Through Processor (STP) Forex Trading software company. Due to the fact that we are a NDD we do not actively monitor customers’ accounts regularly. In every case involving withdrawals, it is mandatory that all accounts be reviewed by all parties, including our liquidity provider.

Attached to this email you will find sever journal logs from your account activities which were provided by the clearing department liquidity provider. We are sending these images as illustrations for your specific case.

The images we sent you are from the Liquidity Provider which handles all the coverage.

Your account was thoroughly reviewed and we determined that you conducted HFT activities by using unauthorized EAs, which interrupted the signal to the Liquidity Provider. As a result of these activities, we suffered some losses.

The first extract is interesting in that they tell us that they are a STP software company, but not a broker. It also says that the your withdrawal will be reviewed by their “liquidity provider”. This means that your account details and trading activity is intimately known by the liquidity provider.

The second and third email extracts referred to a screen shot of server transactions that, according to the email extract, is from the liquidity provider and not InvestTechFX. The screen shot was a MT4 Trader Administration screen that had my InvestTechFX account number, IP address, and trade information. Again, this information came from the liquidity provider and not InvestTechFX. In fact they say the liquidity provider is handling the transactions and they themselves do not have access to the server.

The fourth email extract states that the liquity provider “suffered some losses” as a result of the trading. S

1) There is no separation of account information between InvestTechFX and their liquidity provider.
2) The liquidity provider is actually in control of when/if trades are “unauthorized” and you can get any withdrawals.
3) The sustained losses as a result of customers making money.

Sounds like the “liquidity provider” is a money maker and InvestTechFX is nothing more than a front.

 

[Fabiano]

Investtechfx Withdrawal

I'm having a hard time to get my money back. I will update this post as soon as I get any answer from them, but for now I'm very disappointed...

They send me an email saying that my request will be reviewed by their manager and they will update me shortly... let's see...

 

[michale]

InvestTechFX is definitely a SCAM!!!

If you withdraw the small balance of your initial deposit, they will immediately pay. And if you withdraw the large balance of deposit more than 1000USD, they will firstly send an email to ask you "Why do you want to withdraw this time?", then might eventually pay you the money. However, once you withdraw the profit, you'll definitely meet the following two cases:
1.They inform you are using 2 IPs to login and they have to review your account.
2.They inform you are a VIP account. According the rules of VIP agreement, you must trade for one year and in this year, you can not withdraw any money.
They use this method to cheat. They actually didn't put your money into the bank for real transaction. They are a liar of Market Maker!

They now even forbid the public postings. Why? There is no reason that the client's right is unconditonally deprived by them. The only reason is that they want to hide the truth. But they nerver can!!!

The truth is: None of my three friends and I can withdraw money from them. We are forced to be traded for one year and at that time we even didn't take all of our capital back. But one friend has only 4000USD in his account, which didn't reach the 20000USD amount of VIP account. Another friend has 21000USD on his account, but he didn't receive any bonus for VIP account and his account was immediately blocked when he requested to withdraw. All these happened when we requested to withdraw. If you never withdraw, you will be "safe" to trade forever until lose all of your money. Another possible situation is: If you have traded for one year and want to withdraw, then they will say that your account is renewed VIP for one year because you did not notify them. So you have to wait another year to withdrawal.

You never can withdraw any profit from ITFX!!! Anybody here who can make the money and have withdrawn the profit, please stand out and let us see the evidence.

I strongly suspect ITFX will exit half an year later!!! They will take all of our money and run away.

DON'T BELEIVE ANY EMAILS OF THEIR CUSTOMER SUPPORT AND CALLS FROM THE MANAGER! THEY ARE LOOKING FOR ALL KINDS OF EXCUSE NOT TO LET YOU WITHDRAW!

 

[michale]

Warning!!! InvestTechFX(ITFX) is running away with our money! This is their new website: InterTechFX | Forex Trading | Forex Broker | Currency Trading | ITFX. This website was registered three months ago. And its name is also ITFX! You can find that its trading condition is exactly the same as InvestTechFX!!! The content of webpage Intertechfx | Forex Trading | Forex Broker | Currency Trading | ITFX is exactly the same as Forex ( Foreign Exchange ) Trading Platform!!!

ITFX is ABSOLUTELY a SCAM!!! If you want to withdraw the profit with part of your deposit, you will get nothing except all kinds of excuses that don't allow you to withdraw. My three friends and I are all cheated by them. We can provide all the evidence including emails, online chats, and all the histories of trading orders.

Don't believe so-called VIP account. They cheat you to trade for fully one year and claim that you can withdraw after one year. But when my friend requested withdraw after one year trading, they unexpectedly found other reason to renew the VIP account for another year and didn't give him any real money!!! In short, you never could withdraw any profit from them!

All the people that I know who opened their accounts in ITFX are cheated!!! ITFX is really a bull****!!!

Anyone who makes money and take out the profit, show us your proof! ! !

 

[PipBiker]

Interesting... from the new "ITFX" (Intertechfx.com) website:
www.intertechfx.com/Disclaimer

5. Intertechfx is a No Dealing Desk (NDD) and Straight Through Processing (STP). Our platform, MetaTrader4 (MT4), is a software solution and we do not provide the liquidity with which you can trade in the Forex market. All deals are executed through the clearing company and are performed completely electronically. Intertechfx has no interest, influence or control over the success or failure of the deals completed by customers. Each customer is solely responsible for his/her own positions within the Forex/CFD markets. There may be a slight delay of seconds between the entry order and market price due to internet connection/traffic. In times of extensive activity, or factors involved with liquidity/volatility, there may be a lag for the execution times. Customers may upgrade to a higher internet speed connection. Additionally, during these times, the clearing department may automatically lower leverage as protection for the trader/clearing department.

6. Scalping fees are determined by the Clearing Department. Fees are determined by 1) how often you trade (day trading), 2) how long you hold the position, and 3) what the trader's target profit is. The scalping fee is $10 per lot/trade, based on a standard lot of 100K units. For a mini lot of 10K units, the scalping fee is $1 per lot/trade, working on a relative scale. Customers should be familiar with the scalping terms and conditions found on Intertechfx's website.

7. VIP Accounts are for customers that deposit over $20K in their real trading accounts and customers that reach a balance of $20k during their trading activity.

12. Trading Account Abuse - Account holders are strictly forbidden to abuse benefits given in any manner whatsoever or to use it in any manner except as foresaid. Any active trading found to be done by heavy scalping/EA activity with unauthorized, unrecognizable or unreadable EA codes will result in trades related to these abuses being null and void, the immediate closing of the account, and the full refund of the initial deposit. InterTechFX can cancel all trading account benefits at any time and take any actions necessary such as cancelling client transactions, adjusting client account balances, etc. that might be required in their absolute discretion due to abuse of benefits or use of unauthorized equipment or heavy scalping activity.

13. Use of Illegal Strategy: Any use of the any unauthorized or illegal strategies such as the Martingale Strategy (strategy based on probability theory) is strictly prohibited. Any trader caught using this strategy will have their accounts immediately closed, and their initial deposit returned. All trades conducted using this strategy will be deemed null and void.

14. MT4 Terminal Multiple Log-Ins: By January 1, 2010, the Clearing Department will no longer support more than one MT4 Client Terminal Log-in under the same account. This high security feature is added to ensure customers do not open the same account simultaneously on multiple computers as it may affect their orders (making the orders multiply or have one trade working against the other), avoiding unauthorized trades. This feature is also added to address issues of order execution delay, as this type trading slows execution times significantly. You can still enjoy watching your account status and balance at any time from any computer by logging into our website: InterTechFX and entering your customer ID and password on the home page. InterTechFX is always working on behalf of our customers to ensure that they have the best possible trading experience.

*VIP accounts funds are fully committed for twelve months of active trading. **VIP accounts promotion $20k as of January 2010.

Sounds familar...now where have I seen these before...

By the way, this new company is operating out of Arizona, USA, which requires them to register with CFTC to be legal. The CFTC would probably go after them if they tried to enforce these restrictions or current ITFX withdrawal practices.

 

[aladar]

Warning!!! InvestTechFX(ITFX) is running away with our money! This is their new website: InterTechFX | Forex Trading | Forex Broker | Currency Trading | ITFX. This website was registered three months ago. And its name is also ITFX! You can find that its trading condition is exactly the same as InvestTechFX!!! The content of webpage Intertechfx | Forex Trading | Forex Broker | Currency Trading | ITFX is exactly the same as Forex ( Foreign Exchange ) Trading Platform!!!!

Do you have any other evidences that intertechfx is the new investechfx? I ask this because I suppose that the closed onecorpfx's new company is (also) intertechfx. Their addresses are very similar. Maybe the same person is behind all of these scam brokers...

 

[roderik23]

Do Not Give Them Money

I was reading some of the reviews and they look bad but then when I look at ZuluTrade they are one of their preferred brokers.

I sent ZuluTrade an email asking them about InvestTech and they responded that their members are happy with them.

Anyone else have any personal experience with these guys?
Their one pip spread on major currencies is pretty damn good and the commodity index trading is a nice addition as well although the spreads there aren't as great.

I have been with them for about two years, it has been a nightmare from the very bigining. Yesterday when I told them that i contacted OSC they closed all my trades wright away. SCAM do not bother

 

[john turner]

I am unsure about this broker as their spreads are so small. However when affiliated with 1PIPFIX [now with LoyalForex] I mailed 1PIPFIX for some of my profits to be sent to my Paypal account several times and never received a reply or funds.
I understand that fixed spreads by brokers, especially low ones invariably means that there are SL, TP, restrictions of 10-30 pips depending on the pair. This condition is set by the liquidity provider, the bank. Its useless opening or closing when the market is active with this broker as there are always requotes. Occasionally the message occurs when closing " ... denied, price too close to the market." These conditions may benefit the trader , though I am uncertain how. My trading has deteriorated and I have asked for a balance payment, by email. InvesttechFx is now being prosecuted by the US Fed Finance Authority for not limiting margin/leverage for US citizens. Its a pity and I may be wrong, but getting some money earlier may have urged me to reduce my lot sizes, now I have blown the account. Ce la Vie.

 

[tungsten2k]

My guess is "Alan" will wind up shot in the head on a yatch in Miami.

 

[ILIOS]

Investech Almost A Certainty - Scam

It is now more than a week since I have requested a refund of my money and they have not responded after numerous e-mail. I will allow one more week and then file an official investigation with Interpol and the Hong Kong Chamber of Commerce... I will post here the results.