1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

New Name, Same Scammer, Omari and Prime4x Return as CommexFx and CommexTrade

Discussion in 'Scam Alerts' started by AsstModerator, Apr 7, 2012.

  1. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

    Joined:
    Dec 11, 2007
    Messages:
    5,433
    Likes Received:
    1,133
    New Name, Same Scammer
    Omari and Prime4x Return as CommexFx and CommexTrade


    The FPA doesn't like to call for destruction of a company. Everyone here hopes that even the worst forex company will eventually realize that there are more profits to be made from happy customers than from ripping people off. Only in the most extreme cases does the FPA want to see a company eradicated. Prime 4x was one of those cases.

    Prime's record is well documented at the FPA. Suddenly withdrawals problems escalated to levels far above normal. Usually, the FPA could convince the company to pay money owed, but for every payment made 2 or 3 new complaints popped up. The amount of time to get a single complaint resolved kept getting longer and longer as the believability of excuses kept going down. Finally, Prime4x stopped paying people and got a scam finding. Despite this, Omari kept making excuses and asked that the Scam Finding be lifted. It would have been lifted if he'd payed traders the money owed. He didn't. There was even a supposed change of leadership at Prime. A new president was allegedly appointed and claimed he would fix things. There was no information about him anywhere online. He fixed nothing. It's obvious that this was just another excuse to delay paying traders.

    Because of Omari's delays, one trader in China was unable to withdraw money needed for medical treatment for his mother. Omari was well aware of this. I personally emailed him to make sure he understood the situation. He didn't do anything except keep the money. The trader's mother died. Legally, I'll guess that this makes Omari guilty of some sort of manslaughter. In my personal opinion, he's guilty of cold blooded murder.

    There wasn't any choice left. Prime was still getting new clients and was paying no one. The FPA called for Prime4x's destruction. A few days later, the website went offline.


    Then the waiting game began. I had a feeling someone as terrible as Omari wouldn't settle for sitting back with all the money he's already taken. He'd probably spend all of it quickly and want more. I kept hearing rumors of one brokerage or another that he was supposed to have bought. There was never any evidence and there weren't any complaints against those brokers.

    Finally, I got an email with proof. Omari had a new brokerage in Cyprus. The registration even said that it was formerly Prime4x. The new company was called Commex Fx LTD. It seemed to be associated with CommexFx.eu and CommexTrade.com. Omari had even been emailing former Prime4x clients claiming that everything was fine and they could start trading again. For some reason, he still kept having excuses and delays on withdrawals.

    The person who reported it didn't want his name used. He put me in touch with FPA member Wolf who confirmed everything and provided more evidence. I then called on FPA members Pharaoh and F-Man of 4xAngels.com to do some more digging. They came up with even more evidence linking all the companies and websites together.

    The Cyprus registration for CommexFx LTD lists ABDEL RAHMAN KHEDR ABDEL RAHMAN EL AMARY as the sole stockholder. Omari seems to have a lot of ways to write his name. When he was at Prime4x, he went by Abdel Rahman El Omari. The address Omari gave to Cysec was 90 El Hegaz Street, Helioupolis Square , Cairo, Egypt.

    All of the Commex websites, including CommexTrade.com, .net, org, and .info as well as CommexFx.eu, .com, org, and .info are tied to Prime4x. All at some point used Marketology.us for registration or DNS servers. Prime4x.com and CommexFx.eu are both hosted on the same server as Marketology.

    It looks like Omari planned this for a long time. The Comex Fx websites were registered more recently, but the Commex Trade websites were first registered in February of 2011. That's before Prime4x's website went down.

    If you were a client of Prime4x or have an account with Commex Trade or Commex Fx, you need to file a complaint with Cysec. Send an email to complaints@cysec.gov.cy and include all of your account information. Omari is trying to claim that the Commex that's registered in Cyprus isn't the same Commex that has your money. He's said that it's the other Commex and that company is registered in Belize. Send a complaint to director@ifsc.gov.bz and let him know what's going on. If either of those organizations would like to contact the FPA, I'll share all the evidence that F-Man and Pharaoh dug up.

    Give all the information you have to the authorities. If you are in Egypt, file a complaint with the police. Try to contact InterPol and see if you can get them interested in the case. Leave Omari with no place to hide. This man needs to be dragged before a judge in Egypt or Cyprus to face charges for his financial crimes. He then needs to be taken to China to answer for his part in the death of a trader's mother.


    My thanks to that unidentified FPA member, Wolf, Pharaoh, and F-Man of 4X Angels. Without their help, Omari might have gotten away with this.


    FPA Scam Finding against Commex Fx, Commex Trade, and Omari

    FPA Scam Finding against Prime4x.com

    List of client complaints against Prime 4x. Report Prime4x successful and unsuccessful withdrawals here.

    Original warning message sent about Prime4x.com

    FPA Review Page for Prime4x
     
    #1 AsstModerator, Apr 7, 2012
    Last edited: Apr 7, 2012
    1 person likes this.
  2. FXFORME

    FXFORME Fx-Persia.com Representative

    Joined:
    Mar 9, 2010
    Messages:
    120
    Likes Received:
    6
    Hi

    Thanks for your great Information.
    We will act as the way you asked as soon as possible and will update everyone with the results.
     
  3. Nigel Mollink

    Nigel Mollink Recruit

    Joined:
    Mar 21, 2012
    Messages:
    1
    Likes Received:
    0
    I wish to ask how I should proceeed. I have funds with Commex Trade and have not asked to withdraw any. In view of this I cannot submit a complaint to Cysec. What do you advise because I now obviously wish to withdraw my funds and find an honest broker.
    Please help!!!!
    Nigel.
     
  4. wisefxtrader

    wisefxtrader Private

    Joined:
    Oct 3, 2009
    Messages:
    14
    Likes Received:
    0
    I would advise you try to withdraw funds from them immediately before any problems arises then Commex may not able to do your request. I will never go with small brokerage and unknown reputations. I would encourage you going to big brokerage firms such as FXCM, Interactive Brokerage, and large brokerage that has direct dealing. It will give you peace mind and you can continue trading your methods without any interruptions



     
  5. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,679
    Likes Received:
    2,229
    Nigel, try to withdraw your money now. If there is any delay or excuse, email Cysec and IFSC immediately to report the problem.

    Post what happens here.
     
  6. SANTHOSHKUMAR

    SANTHOSHKUMAR Recruit

    Joined:
    Mar 11, 2012
    Messages:
    3
    Likes Received:
    0
    Very valuable information. Thank u
     
  7. 4evermaat

    4evermaat 2nd Lieutenant

    Joined:
    Jun 26, 2012
    Messages:
    692
    Likes Received:
    169
    Is CommexFx.com included in the scam? Two things worry me about this organization:

    1) They just opened up a competition at MyFxBook. See for yourself.

    2) I recently had a chat conversation with a representative who seemed completely incompetent.
    I've dealt with unknowledgable customer support reps before, but I've never seen such a blatant attempt to disregard specifics despite me asking several times in my life. While I was chatting with the representative, I got so pissed I started to google for discussion on commexfx and came across this FPA page, which led me here.

    I cannot call outright scam, but i am surprised any reasonable person would open an account with this company based on my limited experience with them. Although the myfxbook contest will legitimize them to those not initiated: Anywhere between 2000 and 5000 participants actively promoting their platform.

    I wasn't a big fan of FPA before, but I think you might be onto something here.
     
  8. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,679
    Likes Received:
    2,229
    Oh great. Omari is pushing ahead to gather a new flock of sheep to slaughter.

    Every victim of Prime4x needs to spread the word about this.
     
  9. 4evermaat

    4evermaat 2nd Lieutenant

    Joined:
    Jun 26, 2012
    Messages:
    692
    Likes Received:
    169
    For those that didn't get the memo, the MyFxBook contest was cancelled.

    Latest Contest Cancelled « The Myfxbook Blog
     
  10. 4evermaat

    4evermaat 2nd Lieutenant

    Joined:
    Jun 26, 2012
    Messages:
    692
    Likes Received:
    169
    ...but, even though myfxbook cancelled the contest on their end, Commexfx is apparently still allowing the contest on their side. They already have registrants 2500 user's (including contact info). And they are apparently trying to make themselves look legitimate check out more comments from ForexMagnates:

    Web 2.0 Strikes! Forex Contest Cancelled | Forex Magnates
     

Share This Page