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

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

Hi Alexander,

Of cause masterforex is Guilty - money can't expire any way...
If you don't know - masterforex Guilty THIRD time! It was already closed TWO times and clients money dissapeared! I wonder why you don't study brokers history before deposit them money? Be very carefull with exUSSR and other non regulated brokers!
 
Follow up to this case!

Hello FPA,

I sort of did some snooping around and presented a question to this Broker. I asked straight out f my account would be deleted due to inactivity or something else. Below is the response I received. This was received today.

Hello!

According to our Clients Agreement:

3.1.7. In case a trading account is not used by the Client for more than
90 (ninety) calendar days, such account becomes unavailable for trading
operations conduction. The account is moved to archive, if during the
mentioned period the Client do not login to the trading account and do
not conduct any trading or balance operations. In order to make the
trading account available for trading again, the Client should send an
email with a request to recover the account from archive. The email must
be sent not later than 25 (twenty five) calendar days since the moment
when the account was moved to archive. The period mentioned above starts
from the next day after the day when the account was moved to archive.
When the period of 25 (twenty five) calendar days expires, the trading
accounts that were not requested to be recovered from archive, are
deleted from the Company's data base without a possibility to recover them.

Please read our Clients Agreement:
http://www.masterforex.org/files/new_docs/customer_agreement.pdf

Thank you.
Masterforex.
 
MasterForex has changed their view on this. They now say that this policy of archiving and deleting accounts applies to unfunded accounts. They have retrieved the account in question and restored the balance.
 
MasterForex has changed their view on this. They now say that this policy of archiving and deleting accounts applies to unfunded accounts. They have retrieved the account in question and restored the balance.

BRAVO!
I would rather read this kind of stories every day than scam reports every month...

Sometimes this is just about lack of imagination, bad logic or else resulting in bad situation. The side effects of human imperfection.
Sometimes its about short lived greed that gives a way when the public express its outrage...
I know, many times it's about the pure deliberate scam. I've been through this too. Unfortunately many times.
However I tend to give the credit first, then examine the case, then rise questions as I find them, and then confront everything I can find.
While keeping in mind I can still may be mistaken: wrong translation, wrong understanding, missing facts...
It's so easy to call SCAM right from the beginning...
Anyway.

I must confess I had some issues with some vendors refusing to refund for their flawed products just recently.
When I asked them to resolve it and they failed I invited them to the Traders Court to settle us. And gave them the link to the Guilty Cases part of the forum ;-)
All of them changed their mind immediately and resolved the issues. Meaning the money back :-D
Which is actually sad fact - they tried to scam me. While I'd be happy to legally buy a WORKING solution...
Anyway again.

This court has no any legal power. But it has a BIG social power.
And this power is regarded by anyone serious about his business (if he's not concerned just send him the Guilty Cases link :-D )
FX business is 99% about making BIG money on retailers. But it doesn't mean it has to be 99% about scam.
 
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Awesome result. Not only on this particular case, but across the broader spectrum. While I am happy that Ekpa's account is restored, it is even better knowing that Masterforex has changed their policy on this issue.
 
Congratulations!

Now that his account has been recovered it is time for him to find a new Broker! You can bet they will find another way to get his money, for a small account like that I would recommend IBFX. Their support is very good and you actually get in touch with live people...
 
wow! very impressive results FPA!!!

That is so great to see resolved, instead of guilty. Great to see that www.MasterForex.org did the right thing. Wish Prime4X had come around like that...I would've accepted their apologies with my money back...luckily it was only $500 principal...tho they also took my winnings...

I've been with FXDD for 3 years and they've been as good as a US-based CFTC/NFA broker can be. I've had great experiences with FinFx Trading is the Largest Forex Broker in Finland | FinFX and Online Forex Brokers - Hot Forex - as well. Stay away from GAIN/forex.com. What a nightmare. forex.com was the best until the CFTC/NFA ruined them. GAIN/forex.com somehow seems to inflict more CFTC/NFA pain on their customers than other US brokers - they don't look for workarounds or innovative solutions like FXDD, IBFX and other brokers do.

Congratulations!!! :)!!! :D!!! Good Work!!! AND RESULTS!!! :)
 
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