Multis vs Justforex

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The Punisher

Sergeant Major
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790
Did I read it wrong? They are slandering me using this arbitrage.
I just joined Justforex a short time ago and was lucky to catch some opportunities.
Justforex said I only sell EUR/USD currency pairs. So they should take a look at the market situation at that time to see how a normal trader like me would make a decision to sell or buy.
An absurd conclusion.
If necessary, let me show proof that I even trade other currency pairs
At this point in time, has Just Forex returned your initial deposit?
 

The Punisher

Sergeant Major
Messages
790
Dear Valued ForexPeaceArmy Community,

We see the numerous requests for the provision of additional clarification regarding the violation of the Justforex Agreements.

The group of fraudsters that created multiple threads on ForexPeaceArmy Forum was mostly focused on generating IB commission and achieving top reward from "IB Reward Program" of Justforex. Under usual and normal conditions, this program aims to stimulate partners to invite new active traders. But the group of fraudsters has substituted and sophisticated the initial aim of the program for its benefit.

To receive a monthly top reward based on the requirement, they have to attract new clients and increase the trading activity of the existing ones. Focusing on just two goals forced them to create a lot of drop profiles. Each drop profile has been used to open orders only in one direction to complete the "Total Traded Volume" requirement. You can see this from their statements attached in threads (Please refer to the attachment to this post. All the materials were gathered from the threads created by the mentioned group and were shared by them on FPA website).

Once the IB Reward Program requirements are met and the reward is credited to the account along with the generated IB commission, they withdraw the funds, transfer them to other new drop profiles, and make a deposit using the transferred earlier funds. Therefore, during the investigation process, we requested to provide us with statements and other details that gave us undoubted evidence that confirms the presence and the use of the scheme to continuously generate IB commission and gaining rewards from "IB Reward Program".

This scam strategy of continuous generation of IB commission and rewards was carried out by IBs that created numerous drop profiles. Some of them have appeared on the FPA forum and are claiming that they are real customers that were scammed by Justforex - this is not true. To increase public attention to their case, this group of fraudsters created multiple threads on the forum using their drop profiles without having individual or genuine experience.

This thread describes the same situation we have already commented on in our initial official statement. Although, we suppose that similar threads may appear because of the access to the huge amount of drop accounts, this group can create multiple threads with loud headlines to twist the situation in their favor in order to discredit the Company.

Unfortunately, according to the security standards accepted in the financial industry and our internal rules, investigation details cannot be revealed to the blocked fraudsters and general public despite their multiple requests with the aim to prevent further similar fraud cases with our Сompany and other brokers. Currently, this group is mainly focused on gaining information and asks to reveal additional details of the investigation to understand where the mistake was made and what compromised their plans, not to find a solution towards their issue. These fraudsters knew what they did and what items were exactly violated because of their illegal actions. The Company performed actions strongly in accordance with the Company's policies that are provided in Clients Agreement, IB Agreement, and Terms and Conditions for IB Reward Program and Deposit Bonus Rules. All these documents are freely available on our website.

Along with that, what also you can see in the attachment is a clear evidence of using the “Arbitrage” strategy that is strongly forbidden throughout the industry and in all brokerage companies as this violates the rules and principles of the foreign exchange market. "Arbitrage" strategy is used to keep their total balance on the same level by selling and buying the same instrument in different brokers. They confirmed that they are trading with various brokers. This strategy allowed them to generate IB commission and rewards for activity and not to lose funds by any market movements.

They were generating lots required to transfer the bonus to the trading account along with generating IB commission. You can see from their statements that only Sell orders using EUR/USD pair were placed. So their balance was safe, and IB commission along with the deposit bonuses were consistently credited to their accounts.


Please note that this situation unfolded only around the IBs mentioned above and their drop profiles and didn’t cause any harm to conscientious clients that keep trading and keep enjoying our beneficial Justforex trading conditions and IB Program.


Please kindly note that all the information and clarifications that can be shared publicly were given above. Therefore, you can consider this response as an official statement and the final clarification.
@JustForexcom While your explanation is appreciated, maybe not valid, when will you return all deposits made to these investors? If you want to dispute the profits then I will leave that to you and each poster however at minimum you need to return each of the posters total deposits to them. We are awaiting your reply.
 
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I feel like my thread goes back to the drawing board. Now Justforex even accuses me of not being a real person. Who do they think they are to deny that I am Conscious Clients. Are the input procedures when I open an account with Justforex not enough? Or now I have to verify my identity again but with the admins of the FPA?
 

Kieu Trang

Multi
Messages
8
Will Just Forex at minimum refund all deposits made by these investors?
True. And I have read and re-read what Justforex mentioned in their reply. However, why do they continue to use the excuse "prevent further similar fraud cases with our Сompany and other brokers" to not give evidence? So what was their motivation in the first place for deleting all customer data on MT4 and portal? Or is it true that if a client like me doesn't keep a statement for myself, I will be manipulated with nothing to prove.
Besides scam, what else can I rate this action????????
 

Longpn

Multi
Messages
7
Why do you keep beating about the bush!
Please answer the only question is that Justforex will pay me the principal or not?
 

Giangvanthan

Multi
Messages
10
Some of them have appeared on the FPA forum and are claiming that they are real customers that were scammed by Justforex - this is not true
How ridiculous is Justforex to use this as an excuse to accuse me?

First, I'm a real person. Justforex itself verified my identity through the account opening process. Second, they once again identified me through the email mentioned earlier with a request to send a selfie with a piece of personal information.

So it's incredibly contradictory for them to accuse me like this. Is it different from Justforex admitting that their working apparatus is too superficial and ineffective in verifying customer identity?
 

Mark Benson

Banned
Messages
3
how did you loss your money cause my friend also lost some thousand with JUSTFOREX, we are glad he was able to recovered 75% of his money
 

duongnguyen

Multi
Messages
8
Hopefully the public will not be distracted by Justforex's arguments and forget the fact that they do not return the initial deposit to customers.
I do not participate in arbitrage and I have proof of that.
I accept I was wrong to trust and leave too much money in an unlicensed broker. But I won't be distracted and won't let Justforex take away my principal.
 
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