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

Austrader2012

Private, 1st Class
Messages
90
How can I use this information to help me try and regain some of the savings I lost with UFX?
I have had no reply from CySec still.
Simon
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.”View attachment 9290
 

Pharaoh

Colonel
Messages
19,691
Try giving Cysec a call. There's also something called CIF that's associated with Cysec. I don't know a lot about it, but it appears to be some sort of fund to compensate clients who have an issue with a company.
 

fxview

Recruit
Messages
5
Try giving Cysec a call. There's also something called CIF that's associated with Cysec. I don't know a lot about it, but it appears to be some sort of fund to compensate clients who have an issue with a company.
CIF stands for Cyprus Investment Firm. I think what you are thinking of the Investor Compensation Scheme which all firms that are part of CySEC have to pay into, currently consumer funds are protected up to 20,000 Euros if a firm was to go bankrupt for instance. All MiFID regulating bodies must ensure that firms in the country pay into the relevant compensation scheme but the situations where you can get a refund from such a fund are pretty rare. I'm not exactly sure of the precise situations where one is covered etc.

But I do know that recent discussion within Europe has talked about increasing the minimum about covered by such funds to 50,000 Euros (currently 20,000 Euros though some jurisdictions go above and beyond this) and to extend protection to cover certain types of financial fraud. So it seems unlikely that individual would be covered by the fund in the circumstances that are currently alleged.
 
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calin71

Recruit
Messages
1
First I apologize for my English, but I hope to make myself understood. Everything I say is strictly related to UFXMarkets Romania.
Guys, if you have too much money and do not know what to do with them would highly recommend them to invest in UFXMarkets. Those in there will help you most like to no longer take care of you. We are experts in the help. Now comes another issue. If you want to have some adrenaline and want to long suffering to liquidate money recommend to contact Matei Constantin. If you want to solve problem in the shortest time and without too much ordeal recommend Razvan Lapusneanu. If you want to have part of much philosophy and life lessons will recommend Dan Puia. They are all good guys who help you will solve the problem of money in addition to that you be willing to give up. My recommendation is to talk
beautiful with them, do not comment and have the utmost confidence in them. Certainly not stay with any money. If you do have an opinion, totally not recommended, you will be made automatically Gypsies. If you are gypsy it be good or bad only they know, or Matei Constantin.
Leaving the joke aside, when you hear the UFXMarkets run as you see before your eyes. Not long story short
too much on the phone with them it's not good. All are experts all talk as though at age two years traded on Wall Street. If, however, convince, at which time you can take your money goodbye, you will be bombarded with dozens of phones that will recommend trades that will be opened by phone.Here comes the second issue are all without any analysis Snape simply. The most they look great as always but always put STOP LOSS. In UFXMarkets all trading is without SL. Therefore your account has not the slightest chance. All trading strategy of the UFXMarkets to rely on your credit card. The higher the card account the more better.
After all said I wish you success.
 

FxMaster

Lt. Colonel
Messages
7,941
First I apologize for my English, but I hope to make myself understood. Everything I say is strictly related to UFXMarkets Romania.
Guys, if you have too much money and do not know what to do with them would highly recommend them to invest in UFXMarkets. Those in there will help you most like to no longer take care of you. We are experts in the help. Now comes another issue. If you want to have some adrenaline and want to long suffering to liquidate money recommend to contact Matei Constantin. If you want to solve problem in the shortest time and without too much ordeal recommend Razvan Lapusneanu. If you want to have part of much philosophy and life lessons will recommend Dan Puia. They are all good guys who help you will solve the problem of money in addition to that you be willing to give up. My recommendation is to talk
beautiful with them, do not comment and have the utmost confidence in them. Certainly not stay with any money. If you do have an opinion, totally not recommended, you will be made automatically Gypsies. If you are gypsy it be good or bad only they know, or Matei Constantin.
Leaving the joke aside, when you hear the UFXMarkets run as you see before your eyes. Not long story short
too much on the phone with them it's not good. All are experts all talk as though at age two years traded on Wall Street. If, however, convince, at which time you can take your money goodbye, you will be bombarded with dozens of phones that will recommend trades that will be opened by phone.Here comes the second issue are all without any analysis Snape simply. The most they look great as always but always put STOP LOSS. In UFXMarkets all trading is without SL. Therefore your account has not the slightest chance. All trading strategy of the UFXMarkets to rely on your credit card. The higher the card account the more better.
After all said I wish you success.
How can we contact them ?
 

Master Yoda

Captain
Messages
2,929
CIF stands for Cyprus Investment Firm. I think what you are thinking of the Investor Compensation Scheme which all firms that are part of CySEC have to pay into, currently consumer funds are protected up to 20,000 Euros if a firm was to go bankrupt for instance. All MiFID regulating bodies must ensure that firms in the country pay into the relevant compensation scheme but the situations where you can get a refund from such a fund are pretty rare. I'm not exactly sure of the precise situations where one is covered etc.

But I do know that recent discussion within Europe has talked about increasing the minimum about covered by such funds to 50,000 Euros (currently 20,000 Euros though some jurisdictions go above and beyond this) and to extend protection to cover certain types of financial fraud. So it seems unlikely that individual would be covered by the fund in the circumstances that are currently alleged.
I don't understand what the Gypsy people has to do with it
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,495
I have some news for people having problems with UFX Markets.

One of the lawyers of Giambrone Law tells me his firm is looking into taking action against UFX. Be aware that they do charge up front fees. Depending on how many UFX clients get involved, these fees could end up being relatively small.

If you are interested, visit GiambroneLaw.com. You can use the contact link there or you can email the firm directly at forex@giambronelaw.com

I had shared this confidentially with some UFX clients previously. Edward now tells me that it's ok to announce this.
 
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silviainabox

Private, 1st Class
Messages
51
I have some news for people having problems with UFX Markets.

Edward Norton of Giambrone Law tells me his firm is looking into taking action against UFX. Be aware that they do charge up front fees. Depending on how many LBinary clients get involved, these fees could end up being relatively small.

If you are interested, visit GiambroneLaw.com. You can use the contact link there or you can email Edward directly at edward.norton (at) giambronelaw.com

I had shared this confidentially with some UFX clients previously. Edward now tells me that it's ok to announce this.
What about reporting them to different organizations fighting against criminal activities.
For example Interpol ?
 

Pharaoh

Colonel
Messages
19,691
It's worth reporting them to any and all government agencies and regulators that are willing to listen. Still, if you want your money back, legal representation in a civil case is an option to explore.
 
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