Discuss OtmFx.com

[Administrator]

Click here to read or submit reviews and ratings for OtmFx.com >>

otherwise use this thread ("+ Reply to Thread" button below) to start a LIVE discussion and get responses from our FPA members.

 

[revenge]

Please download & read my attached PDF file is my complete explanation along with the picture:

As a new entry to Forex world, I began to look for a broker for investment & trading forex. One fine day I got a call from Mr Firas Omari an account manager of OTMFX. He lured me to the forex trading world with a vision to be a successful trader. He will help me to fulfill my dream & I would consider him as a Money Angel. He said he will look after my investment and provide me updates all the time for gaining profit and trading. After a hot discussion it was agreed that Mr Firas will manage my account and a gain of 20% is to be expected to my account at the end of every month to my capital fund which is the profit. He even urged me that no commission will be charged to my account as this profits will be belonging to me and he gets commission directly from the market. At first I didn’t trust I ask for company details and official email from him. He has provided his photo, an email, and a company regulated certificate.


This Certificate is a FAKE. (I came to know it after when FSC published about them in the website)

To verify and check them with their words and promise, I made a small invest of 50$ and they made profit in order to gain my trust. As profit started to my account I began to trust them.

Few days after Mr Firas started calling me all the time and advised me to deposit $15,000 in order upgrade my account to VIP level, all VIP client will have dedicated account manager to manage their trades and with this amount they can open position of GOLD. Without VIP account upgrade they can’t open big position on GOLD. They even said my returns would remain the same as 20%; which is equivalent $2000 every month. Mr Firas said he will 1 or 2 deals per day and make 200$ profits every day. I trusted him and made a deposit of $10,000 at the beginning.

At the first month they transferred me a profit of $1,000 to my account instead of $2,000. I said them to retain the profit to my account and continue to trade, will withdraw the profit in the next month.

At one point Mr Firas said as per VIP account privilege, I need to deposit more $5,000 to my account in order him to manage my account and trade. Therefore, I further deposited $5000 to my account to remain as a VIP client.
The trade continues and he was making consistent profit with GOLD. ($100 to $200 everyday)

From $15,000 to $17,000 and then $18,000.
One fine day when GOLD was going up, Mr Firas taught me a scalping technique to trade on GOLD and he wanted me to trade on my account. I started trading for 2 days long as he said me and I was following his direction. Buy at lower and sell at higher. By this technique I grew my account $84,000.

Now at this point of time, Mr Firas called me and said he will trade on SILVER to hedge my funds in order not to lose money. I really had no idea about hedging. I continued trading on the hedging position where at one point of time my account gets blow off. I was not told to stop trading after hedging. I called them but they refused. They continue blame me for taking position after hedging. But they never informed about the hedging and didn’t stopped me for trading after hedging.

After a long conversion with Mr Firas and other account manager to get my funds and my investment back they came with a solution that I need to invest again $10,000 in order to recover the loss fund. This time they would open for me a NOSTRO BANK account; where my account will be privileged to trade and recover all my losses within 3 months. At first I neglected them. I asked them to put themselves and show me profit and trades in order me to deposit again. They traded and made some profit and advised me to deposit in order to withdraw my profit.

This time Mr Firas asked me to deposit the fund to his colleague account manager in Saudi Arabia. He provided me the bank details and account number to deposit the fund.

After depositing they refused to take trades, they even didn’t transfer any of my profits. After sometime I see them again they have hedged my funds and stopped trading. I been contacting them but they don’t response. When I said I will forward it to traders court, they don’t bother to take steps and continue ignoring me all the time. In response they are harsh in their words; seems they are unprofessional.

After my research, When I found the certificate from FSC that OTMFX is fake, and it was posted to their FSC website on 03/03/2016. It was too late for me to learn that this broker is a FAKE. Holding no regulated certificate. OMGGG

http://www.fscmauritius.org/media/270243/investor-alert-otmfx.pdf

http://www.fscmauritius.org/enforcement/investor-alerts/unauthorised.aspx

I have sent them this copy and asked them to provide me the explanation, as they have misappropriated my funds. They replied harsh words and continue ignoring me.

Some Strange things I noticed with them, would like to highlight it as I did some research on them:

1. Whatever I deposited the fund I gets an email the money is being transferred to their account from my card. But this address appears somewhere else –

SELLER: TMI HOLDINGS Ltd
Transaction: FXlider (also appears in credit card statement)

Total fund for me that I have invested is $25,000. Currently hedging fund is still running negative. There is no communication till now for 4 months, sometimes hardly he replies to me WhatsApp, and says I need to be patience and wait for the profit. I don’t trust them anymore. They are not professional traders.

I desperately need your help from Forex Peace Army Team. I saw you guys helping a lot people solving the SCAM issues. I am very depressed here with the lost.

Please Forex Peace Army, I need your help to get my money back. Guide me all along what I need to do further

Thank you.