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NO ISSUE - Fxprimus will be deregistered in NZ in 2 weeks

Discussion in 'Forex Insanity' started by Trader1979, Apr 6, 2015.

  1. RahmanSL

    RahmanSL Major

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    New Zealand regulator only protect their citizen Traders....all others are not covered.

    I was a client of FXPrimus some years back in my rookie years and had many issues with them.....they are located in an exotic Island nation and, as with all brokers located and/or regulated by exotic Island Nation, Traders trade with them at their own peril.
     
    1 person likes this.
  2. Trader1979

    Trader1979 Recruit

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    Actually now that Fxprimus New Zealand doesn't exsist...we'll never did! No chance at all even if you had a contract between Fxprimus NZ, it isn't worth the ink on the paper! Just another way Fxprimus pulls the wool over people's eyes.
     
  3. FXPRIMUS Support

    FXPRIMUS Support FxPrimus.com Representative

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    Hi All,

    This is Terry Thompson, President of FXPRIMUS. I’ve commented a few years ago on this valued forum when I felt my company was being slandered and mistruths were being spread. To my dismay, this is being done again on this thread, and thusly, I need to protect the reputation of the company I’ve overseen for the better part of 6 years not to mention protect the welfare of my 100+ employees around the globe and our tens of thousands valued clients. In this business, like any business your reputation is everything, and I’m not going to allow someone to attempt to soil a sterling reputation that my partners and employees have worked tirelessly to build.

    I’d like to a address the issues that have been raised and also would like to address directly the author(s) of this thread.

    1) The author of this thread, I have every reason to believe, is a money manager who has been with FXPRIMUS for over 3+ years who I have been in recent contact with. Over the years our customer support team has catered to his many issues, complaints, needs and wants with unparalleled service. He’s had issues in the past, ranging from someone other than him placing losing trades on his account (three times i believe), to wrong balances appearing on his account, to FXPRIMUS purposely delaying deposits into his accounts to cause a margin call..on and on. I would be more than happy to go into specifics of his account(s) but would first need his permission and that of the clients that he has managed money for in the past 3+ years. AUTHOR, please respond here, so the viewing public can see both sides. I’m of the opinion, since you’re doing your best to hurt my company, its time to lay everything on the table, but out of respect for your clients I await your permission and theirs. I will not divulge names obviously, however I would like to explain account history as I did with you on the phone. I’ll be happy to take it a step further, and speak personally with your clients as well. Again, its up to you how you’d like to proceed, but the invitation is there.

    2) FXPRIMUS removed all mentions of New Zealand from its website on March 4th, 2015, and all clients who were registered under our New Zealand company were notified and moved to another jurisdiction, quickly and stress-free. We were incorporated in New Zealand for over 2 years and during that time the response from clients to be “papered” or regulated in New Zealand were far and few between. While we have the highest respect for the New Zealand regulatory system, we made the decision as a company to move out of New Zealand, and explored various avenues to accomplish this from a sale to a manual de-registration. The author is correct in that there was a complaint filed against the company (by the author, of course) on March 11th, 7 days after the decision to exit New Zealand. I’d be more than happy to attach his complaint on this thread and post our reply with approval from the author of course. Do note, the author was not a client “papered” in New Zealand, however we were advised in the essence of time, to manually de-register as that would be the most efficient course of action. I reiterate there is no known investigation in NZ, and the de-registration is 100% voluntary.

    3) FXPRIMUS is a proud Corporate Authorized Representative of HLK Group in Australia. FXPRIMUS has ZERO clients “papered" under their Australian entity and is only authorised to provide general financial product advice. The author has complained to HLK as well, and HLK has advised the client accordingly. HLK has been forwarded this thread and its their perogative whether they wish to address this issue on this thread, personally with the author, or at all. However, I reiterate, there is absolutely NO investigation by HLK into FXPRIMUS. Furthermore the author notes FXPRIMUS Australia - The #1 Forex Broker website. This website is not related in anyway, whatsoever with FXPRIMUS, and we’re only discovering this site now and will handle it internally. I’ve attached a screenshot from the website stating as much.

    4) In an email from the author to our support staff and to me personally he has threatened to complain to every regulator under the sun about FXPRIMUS unless compensated. I’d be more than happy to post the email from the author with his permission. I spoke with him, and he reiterated his intention was not to hurt my company but rather receive a reimbursement, unfortunately, it seems like he has changed his tune based on the messages on this thread. I have personally emailed the client after speaking with him, with a recap of our discussion and a proposal regarding his most “recent issues.” I have not had a response from him.

    In closing, while a bit lengthy, I appreciate everyones interest in this matter, and once again, invite the author(s) to a discussion regarding his clients matter on this forum, make myself available to speak with his clients about their account history…you name it, I’m prepared to be 100% transparent as I have always been. I will not stand idly by when I feel my company is being unfairly portrayed in a public forum. I trust anyone who has ownership in a business would feel the same way.

    I remain,

    Regards,

    Terry Thompson
    President-FXPRIMUS
    Screen Shot 2015-04-08 at 3.41.18 PM.
     
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  4. FXPRIMUS Support

    FXPRIMUS Support FxPrimus.com Representative

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    To FPA Administrators,

    I respectfully request you advise if if the following usernames are using the same IP Addresses in the same geographic location as I see they are brand new registrants and coincidentally enough posting slanderous, false information.

    MikeH1
    Trader1979

    Please accept my apologies if this request should be handled or questioned elsewhere.

    Regards,

    Terry Thompson
    President-FXPRIMUS
     
    1 person likes this.
  5. Master Yoda

    Master Yoda Captain

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    Hello Terry,

    You will need to prove them wrong before your request will be relevant.
     
  6. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    The IPs do not overlap.

    I would appreciate it if Trader1979 and MikeH1 would provide account numbers or some other form of identifying information so that the representative from FxPrimus can check to see if there are any issues with their trading accounts.

    If there is evidence of an investigation by any regulator, I would like to see that posted.
     
    1 person likes this.
  7. MikeH1

    MikeH1 Recruit

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    Gentlemen, we will supply all requested information in due course. We are currently issuing instructions to our lawyers and cannot jeopardise our case. If you have a contract with FXPrimus, you should know that if it is under Mauritian Jurisdiction, you can take no action in Mauritius unless both parties are resident. In other words, you have no legal recourse against FXPrimus. Very clever Mr Thompson. Regulators have power to deregister and issue verdict BUT no power to enforce. Injunctions against FXPrimus are therefore nigh impossible to enforce. The new agreement with FXPrimus is a classic. If you agree to the terms you need your head read. Contracts with FXPrimus definitely require the opinion of a lawyer. The NZ FSC issued enquiries to FXPrimus because they agreed there was a case to answer. All of our assertions are based on hard evidence and all copies of correspondence are on file.
    Again, we cannot elaborate further as it will prejudice any future action. Traders, look at your FXPrimus contract very carefully. You might be surprised at the level of control you hand over to Mr Thompson and his company. Get a legal opinion, it may save you a lot of money and effort later. To be continued.
     
  8. Pharaoh

    Pharaoh Colonel

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    So you won't even ID yourself so we can know if you are the person Terry from FxPrimus was referring to? How would than endanger your case?
     
  9. Master Yoda

    Master Yoda Captain

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    In this case I agree with Pharaoh.

    I just didn't get one thing, is this broker Ausie regulated or Mauritian?
     
  10. kahsau

    kahsau Private

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    i suppose they have different licenses....Have no idea under what jurisdiction their clients would be placed. It makes it all very confusing, actually.
     

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