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RESOLVED Case# 2011-080 | Alexander Godwin Ekpa vs www.masterforex.org

Discussion in 'Traders Court Resolved Cases' started by Alexander Godwin Ekpa, Oct 4, 2011.

  1. Alexander Godwin Ekpa

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    Original FPA Traders Court Submission by Alexander Godwin Ekpa:

    I am submitting the case against: www.masterforex.org

    My Case is: I have an account with Master Forex with the sum of $216 (Two Hundred and sixteen USD) which according them has been deleted from their database without notification of any kind. I noticed this while trying to login because after several unsuccessful attempts I contacted the technical crew for a possible password recovery and only to told that my account has been deleted whereas in June this year I login and accessed same account.

    I have written to them a lot of times and I was even advised to write to the claim department which I did. They still said money is irrecoverable.

    Please I will appreciate if FPA could help me out.

    See below some document to portray my case.

    New thread in the Scam Alerts Folder:
    www.forexpeacearmy.com/forex-forum/scam-alerts-folder/16899-re-application-retrieval-fund-deleted-account.html

    Review is submitted by Application for retrieval on 09/12/11

    The company was first contacted about the issue on 06/09/11, the last contact was on 09/28/11

    Details: Hello,

    Unfortunately the account is deleted from the database and it is
    impossible to restore it.
    So, no operations can be carried out with this
    account.

    Bestr regards,
    MasterForex.

    28.09.2011 13:03, Alexander Godwin ïèøåò:

    Company representatives' emails:
    support@masterforex.org" <support@masterforex.org>

    Attached Files:

    1. case.doc

     
  2. Pharaoh

    Pharaoh Colonel

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    No explanation at all why they deleted your account?
     
  3. Alexander Godwin Ekpa

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    Automatically deleted because I did not login to trading section for a period of ninety days.
     
  4. Sylvie O.

    Sylvie O. Sergeant

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    I think we should invite Masterforex to discuss about the case before it goes public.
     
  5. Laurie Gold

    Laurie Gold Corporal

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    I agree with Sylvie. I can understand them deactivating an account after a period of time but to not return the clients funds or worse to say hey there is nothing we can do and your money is now ours is a bit flip.
     
  6. Pharaoh

    Pharaoh Colonel

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    Deactivating an unused account can be reasonable, but there needs to be a way to reclaim the funds and/or reactivate it. I agree we should invite them in.

    Yo AsstMod! Care to email an invitation?
     
  7. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    I asked them about it and got a quick response. They wrote...

    It looks like if you let things go for 55 days, they take and keep your money. I've posted a warning about this policy on their review page.
     
  8. Laurie Gold

    Laurie Gold Corporal

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    Time period

    I think the policy is harsh, and a scam in itself. I agree posting a warning on their review page is a great idea. However, I read the time period as 115 days (90+25), not 55 days. Did I miss something?
     
    #8 Laurie Gold, Oct 13, 2011
    Last edited: Oct 13, 2011
  9. Pharaoh

    Pharaoh Colonel

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    We could all chip in and buy AsstMod a new pair of glasses and a calculator for Christmas. :p

    Yeah, I think that the policy in itself is a license to steal. Inactivity fees from some brokers are bad enough, but this amounts to total confiscation of all funds in less than 4 months.

    Should we also assume that MasterForex doesn't keep backups of their records?
     
  10. Sylvie O.

    Sylvie O. Sergeant

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    If this case goes public, I'll vote GUILTY for sure!
     

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