Investtechfx Problems (Again)

PipBiker

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54
Resolved: Investtechfx Problems (Again)

Resolved, Mar 10, 2011: I received payment from Investtechfx. Thank you InvestTechFX.

Edit Mar 7, 2011: Investtechfx and I, with their lawyer's assistance, have to to a compromised amount. I have sent the appropriate paperwork and am now awaiting the bank transfer. I will update again when that is completed.

EDIT: I have been told by Alan at InvestTechFX that my trades are "fraudulent" and that I will not be receiving any withdrawal. See a later post for more details. My next step will be to file a scam resolution with FPA and post very, very bad reviews.

In Nov 2010 my withdrawal was delayed for over 3 weeks, but did finally receive it. Now I find myself waiting 2 weeks for another withdrawal. The email response I received in response is as follows:

Please be advised that your withdrawal request is in process. Due to the excess withdrawal request in the holiday season, withdrawals are taking a bit longer than usual. We will notify you once it has been cleared.

Yours sincerely,
InvestTechFx

I will begin to ask them everyday for a status until I get resolution. I really like the spreads with this company, but they play so many games with withdrawals and trading styles that it makes we wonder if it is at all worth it. This is not my only broker and I definitely wouldn't keep any money with them if they were. I have been successful with other withdrawals, but the last one and this one have been like pulling teeth to get to the money. If it keeps up I'm pulling my account (if I can get it out :unhappy: )and leaving bad reviews.
 
Last edited:

hyperbolic

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Messages
38
I really like the spreads with this company, but they play so many games with withdrawals and trading styles that it makes we wonder if it is at all worth it. This is not my only broker and I definitely wouldn't keep any money with them if they were. I have been successful with other withdrawals, but the last one and this one have been like pulling teeth to get to the money. If it keeps up I'm pulling my account (if I can get it out :unhappy: )and leaving bad reviews.

We're in the same boat. I'm doing well in my account, but I'm not sure it's worth it, if pulling out funds is more painful than pulling out teeth. It takes plenty time and energy enough to deal with trading risks. When I have to worry about broker reliability, too, I have to wonder if it's worth the bother.
 

Louis F

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Messages
44
Hello, good morning FPA. Why not SCAM this company? Withdrawal problems again. More more withdrawal problems.
 

PipBiker

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Messages
54
Hello, good morning FPA. Why not SCAM this company? Withdrawal problems again. More more withdrawal problems.

Identifying a broker as a scam does not fix the problem. It's better for all parties involved to work out the issues and keep business going. If InvestTechFX wishes to have a good reputation, which means more customers, then they need address the issues with their present customers. The scam label is the final result of failed discussions, not a quick fix.
 

PipBiker

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Messages
54
The latest response to my inquiries:

In regard to your request, we would like you to contact directly with our manager Alan at: 1+nnn-nnn-nnnn regarding your withdrawal request. Thank you!

Yours sincerely,
InvestTechFx

I wonder what they invalid trading they will accuse me of? Will post the results after I have made contact.
 

PipBiker

Private, 1st Class
Messages
54
Investtech Is A Scam And Don't Give Them Any Money!!!!

Well, I spoke with Alex, who proceeded to call me a "fraudulent trader" performing "illegal trades" and "manipulating the system". I yelled at him and hung up on him. I cannot believe this company. I sent the following email to them requesting they close my account and send me the balance in it:

To whom it may concern,

I wish to inform you that I am severing my relationship with this brokerage. I request that all funds in my trading account be immediately sent to my paypal account.

I am very upset with your brokerage, and especially your "manager" Alan, who has called me a "fraudulent trader". All the trades I performed on my account with you were, with a few exceptions, were conducted by EA's developed by me, based on price action around standard indicators and limited to specific currency pairs (mostly GBPCHF) and limited to specific time of the day. All the trades could be performed by hand by a trader looking only at a chart on the specific pair, and with better results than by EA. The fact that I used multiple EA's was to spread the risk out to multiple time frame and trigger points.

I use the exact same EA's on other brokers with similar results. Your 1 pip spread obviously improves the results, but is not the only reason for it's success. Your "manager" telling me that I "manipulated" prices doing this is simply an attempt on his, and yours as a company, to negate my successes as a trader. Your company is a fraudulent one if you fail to respect my winnings, and I will spare no time or effort to make that know whenever and where ever I can. I gave you a decent review last month on FPA, but that will be updated with the present circumstances to a very, very negative one.

Thank you for honoring me as a true client, as I hope you will,
(me)

I'll be lucky to see any of my winnings...but I will at least be instrumental in decreasing their clientele, and limit the number of poor saps who are going to be stuck in our same situation.

Next step, FPA SCAM RESOLUTION and BAD REVIEWS!
 

monkata

Private, 1st Class
Messages
35
This is exactly what everybody who is trying to get their money is going through
 

Louis F

Private, 1st Class
Messages
44
Identifying a broker as a scam does not fix the problem. It's better for all parties involved to work out the issues and keep business going. If InvestTechFX wishes to have a good reputation, which means more customers, then they need address the issues with their present customers. The scam label is the final result of failed discussions, not a quick fix.

I understand you, but this company not pay nothing. I trade this company less than 2 years. I pay this company more than one hundred thousand US dollars commissions. I would like to get back my money.
How do I receive the rank of private??
 

PipBiker

Private, 1st Class
Messages
54
Louis, you'll receive the private ranking sometime soon. It's based on the number of posts. PM or email the moderators if you want more information.
 

Louis F

Private, 1st Class
Messages
44
Louis, you'll receive the private ranking sometime soon. It's based on the number of posts. PM or email the moderators if you want more information.

PipBiker, thank you the information. Have you already contacted the FPA?
 
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