My account manager at BForex placed a crucial trade in the wrong direction causing my accounts Liqui

gbpaving

Recruit
Messages
3
I believe i have been cleverly scamed by BFOREX. My account manager whom i believed was helping me but in fact was leading me into a pricarious position and the getting me to deposit more and more capital ( saying i will be able to make good money and rescue my account untill i had no more money. With most of my trades hedged or partialy hedged he then placed a trade in the wrong direction. I noticed this emediatly but was unable to contact him nor did he return my urgent requests to contact me. Only days later did he contact me. My account was liquidated.Its been 2 months now and i am getting nowhere. My accounts manager tried to evade the facts and now has said my case is closed! Now it seems as if Bforex has taken all my money! What can i do now?
 

Pharaoh

Colonel
Messages
19,722
What country are you in?

How did you deposit money into Bforex? Bank wire, credit card, or something else?

How much did you deposit?
 

Master Yoda

Captain
Messages
2,929
One more thing in their website they are mentioning a Cypriot address

Clearing Support:
Cubbon Services Ltd.
Trident Centre
115, Griva Digeni Avenue
3101 Limassol
Cypruss

Tel: +357-22022663

How about you drop a complaint through the Cypriot regulator Cyprus Securities and Exchange Commission with mentioning the above mentioned address
 

Pharaoh

Colonel
Messages
19,722
First, gather up all your documentation. Get screenshots of their TOS and any emails where your account manager made any promises.

Contact your credit card issuing bank. Ask to speak to the fraud department. Carefully explain how the company appears to have deliberately wiped out your account in order to keep your money. Ask if a chargeback is possible.

Ask your bank and local police if there is any place in South Africa where you can file an online financial fraud complaint. If they do name one, please report back here.

Go ahead an file a complaint with econsumer.gov - Your site for cross-border complaints.
 

gbpaving

Recruit
Messages
3
First, gather up all your documentation. Get screenshots of their TOS and any emails where your account manager made any promises.

Contact your credit card issuing bank. Ask to speak to the fraud department. Carefully explain how the company appears to have deliberately wiped out your account in order to keep your money. Ask if a chargeback is possible.

Ask your bank and local police if there is any place in South Africa where you can file an online financial fraud complaint. If they do name one, please report back here.

Go ahead an file a complaint with econsumer.gov - Your site for cross-border complaints.
Thank you . I will follow your advice and report back soon.

Mike
 
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