Problem It's Time to Call the UFX Kiss of Death a Scam

[AB2279]

I plan on changing my credit card number just in case UFX tries to debit any more money from my account. I would try to get my funds returned to my credit card by lodging a complaint but I have a feeling it will get me nowhere. UFX is very fast to make sure you send back signed copies of credit card approvals so they can cover themselves. When it comes time to ask for your money to be returned they don't want to know you. For now, I will be closely monitoring my credit card account online in case they try something.

 

[BigT1]

I plan on changing my credit card number just in case UFX tries to debit any more money from my account. I would try to get my funds returned to my credit card by lodging a complaint but I have a feeling it will get me nowhere. . .

Hello AB2279,

By all means contact your Credit Card Company immediately and file a fraud report with them!
They will block further withdrawals by that vendor from your account and replace your cards with a new ones.
.
Don't under-estimate the power of your Card Company. Remember, they have wide experience with vendors, and you are certainly not the first to complain about this firm.
They can pull the broker's authority to do business with them for all cardholders. This is a powerful squeeze on their operations.
.
They are also capable of making you whole, because they may be holding funds due to the vendor that have not yet been distributed to them, from which they can debit the complaining customer's funds in the form of a charge back. In addition, the card company may have some form of "Buyer Protection Plan" that might be called into play.
Moreover, if the card is issued by a major firm like Mastercard, Visa, American Express, they will share information with all the other member banks issuing their branded cards.
By NOT filing with them, you continue to enable similar abuse.
.
They also have no desire to do business with known fraudsters, it is just bad business.
File your complaint immediately, and they will begin the investigation into their practices.
.
AI
.
PS: With regard to Israeli Attorney Eyal Vardi Geler EVG Law Associates www.forexlawsuits.com
I have had several private communications with him.
He has supplied credentials that I am in the process of vetting.
My report is delayed due to fierce storms in New York, USA recently, coupled with extended power outages that have affected me and my operations.
You will have my report in due time.

 

[EVG]

Hey,

I'd like to start by saying that my heart goes out to BigT1 and the rest of the east coast who have suffered a great deal with the recent natural disasters. I hope that you and your loved ones get through these horrible events as soon as possible.

FXCobra - I'd like to let you know that I have been approached by 5-10 forex traders who have presented me with their cases. Each of these cases are quite complicated and require a lot of time and attention in order to build a strong case before contacting the brokers.

I have not dissappeared at all. I'm simply trying to handle the many cases I've already been presented with and this takes time.

If you see a specific thread that is in need of professional advice or friendly tips then I'd be happy if you let me know via email eyal@forexlawsuits.com.

If you feel more comfortable waiting for BigT1 to review my credentials then that would be fine as well.

--

Thanks,
Mr. Eyal Vardi Geler
EVG Law Associates
Forex Lawsuits - Helping Traders Fight Back!
Legal Disclaimer: The materials and information provided by me are provided for informational purposes only and do not constitute legal advice.

 

[GrizzlyWA]

I fully support an investigation into UFX Markets they are a big scam and get you to put in more money to make bigger trades then they give bad trade advice

 

[AB2279]

Hello AB2279,

By all means contact your Credit Card Company immediately and file a fraud report with them!
They will block further withdrawals by that vendor from your account and replace your cards with a new ones.
.
Don't under-estimate the power of your Card Company. Remember, they have wide experience with vendors, and you are certainly not the first to complain about this firm.
They can pull the broker's authority to do business with them for all cardholders. This is a powerful squeeze on their operations.
.
They are also capable of making you whole, because they may be holding funds due to the vendor that have not yet been distributed to them, from which they can debit the complaining customer's funds in the form of a charge back. In addition, the card company may have some form of "Buyer Protection Plan" that might be called into play.
Moreover, if the card is issued by a major firm like Mastercard, Visa, American Express, they will share information with all the other member banks issuing their branded cards.
By NOT filing with them, you continue to enable similar abuse.
.
They also have no desire to do business with known fraudsters, it is just bad business.
File your complaint immediately, and they will begin the investigation into their practices.
.
AI
.
PS: With regard to Israeli Attorney Eyal Vardi Geler EVG Law Associates Forex Lawsuits - Helping Traders Fight Back!
I have had several private communications with him.
He has supplied credentials that I am in the process of vetting.
My report is delayed due to fierce storms in New York, USA recently, coupled with extended power outages that have affected me and my operations.
You will have my report in due time.

Thanks BigT1, I have already followed your advice and contacted my bank to file chargebacks on the amounts UFX Markets debited my credit card, due to fraud. When I called my bank, I explained that UFX is a scam service which didn't honour the promises it made. The key issue being that they failed to respond to requests to withdraw any amount of funds over many weeks. I explained to the bank employee I called that as UFX doesn't reply to my emails, phone calls or online messages about this issue, I had no other option to recover the funds in my account. A new credit card with a new number will be issued to me. I don't know if I will recover anything from UFX Markets but at least now I can set my mind at ease that UFX will not get their grubby hands on any more of my cash.

 

[chirp08]

Yes, I was another victim of UFX. In my case, I was accused of using a robot to generate profits which led to a blocking of my account for a couple of days and elmination of my profits by my account manager. Having lost recent gains that way, I experienced the now classic Kiss of Death. Yes, I learned a lot about scams with UFX. I am now trading with a broker via my trusted local bank. Thanks FPA, for making it clear once and for all: UFX is a scam.

 

[Austrader2012]

Cease Trade Order Issued Against UFX Bank, Mike Lane and Amy Walsh | Forex Magnates

 

[Master Yoda]

Source: forex magnates (Forex Magnates - Home of the Forex Elite)
CySec Announces a Settlement with Reliantco (UFX Markets)
Feb 13 2013
Cyprus regulator, CySec, has announced a settlement with investment firm Reliantco (UFX Markets). According to the regulator’s statement, the Reliantco was hit with a €100,000 penalty for possible violations of its securities laws. The settlement ends a two week saga between the broker and CySec.

Last month, CySec had issued a release against Reliantco for possible violations. The statement was then recalled by CySec. In its place, Reliantco issued their own press release two days ago which conferred that they were in the process of settling with CySec. According to Reliantco, CySec was concerned with the “Company’s disproportionate high growth rate compared to its increase in personnel.” Reliantco continued “In an effort to satisfy CySEC’s requirement the Company shall continue to expand its team of global financial experts at an increasing rate specifically at its Cyprus head office.”

 

[Master Yoda]

I am sorry for not mentioning but Reliantco is the company who runs the brand UFXMarkets (former UFXBank) and located in HaMasger St. Tel-Aviv, Israel

 

[ivanjane]

I wish i was here before i've met ufxmarket,,, really truly kiss of death scam,,, they will meet there ends sooner or later