RESOLVED Case# 2013-013 | atalaata vs www.hfx.com

[PetDane]

Seems no doubt you been scammed, but wow! Why have you deposited such a massive sum with these guys! There is no need to use more than a few hundreds dollars to trade.Unless you really know a broker well it just not worth risk.

 

[claretblue]

(Yet) another example of a broker who needs to look up the dictionary and discover what the word BROKER actually means!

 

[Dermolikesprofit]

Well if it takes two months, and still have not received your funds, and now they offer bribes and threats, = scam. You have made some nice profits but you are not allowed to withdraw them, what else can anyone think but this company is run by dishonest crooks and should be avoided. I remember reading somewhere a few months ago, (dont hold me to this, dont know how accurate it is) cannot seem to find it now, but an offshore Brokerage outside of the US and Eu can be set up with as little as $10k company security, plus rental of servers (usually poor low latency = bad execution) and advertising, where as in the US a brokerage needs 20millon, so all these little companys that are not well known could be just one of these. I will never open an account with one of these small unpopular brokerage companys because of this, its better to go with the big guys, it may cost a bit more on commisions and such but I always get my withdrawls within 2 buisness days.
Good luck to you in you future dealings.

 

[sundar04]

Most of the brokers are like that only. I struggled to get my money back from Instaforex. Guys don't fall victim of discounts and other offers. All are scammers.

 

[IAEBusiness]

Thanks a lot for FPA team and members for the their sympathy with me.

I know that some members blame me because of HFX has no registration. But the main target to me is to protect other new trader from a fraud broker any fraud brokers. I have learnt many things from my mistake and I don't want the other to suffer like me.

for HFX broker, you can simply solve this issue by sending my WD and do not repeat the same in future, if HFX rely want to get any other traders.

for me if I loss my money and protect other new trader to be a victim, this will make me proud that I have saved another person's money

Regards,

Ahmed Salem

We give you a high respect as you decide to scarify of not only their 6000$ offer but you decide to scarify of all the Balance of 23000 to protect other people form being victims.

GOOD ARAB MAN, proud of you

And this SCAM BROKER will go to hell son after this case close against them

We must have a role in publishing such a case in everywhere, They must know that it's not easy to steal people's money, And they will soon lose their clients

 

[Rasfi]

Triantus Shango, what a great idea I totally agree!!

FPA could become easily among the top trusted brokers if not number 1. I would happy invest and trade with FPA in confidence, as I feel comfortable trading with broker that I can trust...

Could someone from FPA give a position to Trianuts as he or she has excellent idea, or at the very least acknowledged his ideas. If FPA can not do what Triantus Shango is suggesting some one else would do it....

just simply and utterly stomach turning! it's all i can do not to reach for my [imaginary] gun. since 21st century laws do not seem to apply, i guess wild west style of justice is now called for.

but, since mounting an international posse would land us all in jail, there might be another solution to all this crap. as i've been reading up as much as i could on the internal workings of the eFX business, i came across multiple companies who provide turnkey solutions, from A to Z, for those who want to open a brokerage. there are so many liquidity aggregators available to connect clients to LPs, robust backend tech provided by companies such as Integral, forexware, xfsol, lightfx, leverate, etc.... and if we can't get a prime broker, that's what a prime of prime broker is for. so.... how about the FPA (felix and compadres) pull together some resources, and launch the first truly transparent retail brokerage? use technology like Corvil's to provide clients with 3rd party metrics for QoS, Integral's free tick-by-tick historical data to check that the feed is not manipulated in any way, company financial statements, liquidity partners, backend tech, custodian bank accounts for segregating clients funds (offer offshore banking accounts as well), all in the open, especially providing clients with the ability to see the backend settings controlling how their account is managed by the system, turn the whole thing inside out, the whole shebang even if it means initially lower profit margins.

and how about making it a profit share enterprise? for ex., the retail side of the business is run just like a normal brokerage but with integrity, no client fund commingling and so on. but now, if traders wanted to buy in the company, help support it's operations, maybe in the beginning when the brokerage is trying to get off the ground, they could pledge whatever amount of money towards it and in return own a piece of the pie as soon as the brokerage turns a profit, like a % of the net profits.

so now everyone involved would have an additional incentive to see volume grow and would be motivated to introduce more traders to the brokerage, thus creating a virtuous self-reinforcing loop that would grow the business.

so a brokerage created by traders, for traders, supported by the very same traders it benefits.

whoever has staked the most in creating this business, of course, will get back most of the ROI, but everyone else has an opportunity as well to be part of it, on top of making money through trading. and when losing money from trading, the residuals from the ROI sharing scheme will be a welcome offset. sort of like having an open-source brokerage: we, the community put it together through the leadership of the more seasoned traders from FPA, make it clear it is an FPA led initiative to give it the cachet of street cred it needs, and even better, have a social trading service as well where traders who choose to do so, can have the system display their trader nickname (not their user ID, which is between them and the brokerage) with all current trades with entry points, TP/SL and P/L, and equity amount as well (if so chosen), all in real time. so say, i open a new e/u trade, all the parameters to this trade would immediately appear in the public section of that real-time service for other traders to see and follow if they wanted.

this has the added advantage that if there is a spike that takes out a trader's stop, but those guys on the live board don't appear to have been affected, then you would immediately know something is wrong. either everyone is affected by the spike or no one is, meaning there is no spike. this the reason why the next requirement should be absolutely implemented.

so to honor the commitment to transparency, the founding members, if they trade as well, would be required to display their real-time data under the same user ID used on the FPA site. shining the light to keep everyone honest.

and finally, there should also be a fund/managed account service for those FPA members and others who don't have the time or inclination to mess with all the technical minutiae of this business but still would like to grow their nest egg. the best traders would be given a choice to manage other investors' accounts, and those who agree, every time they enter a trade, the investor(s) whose account is linked to that trader, the system would automatically enter him/her into the same trade (adjusting trade size of course for available equity). again, all performance stats would be openly available and published in a user-friendly interface on the company's site.

anyhow, just an idea... but it would be very cool indeed if we could pull it off. i can't help thinking about this one line gary oldman had in the movie 'the 5th element' where he says: 'If you want something done, do it yourself!' that's exactly how i feel about this whole brokerage business.

 

[Joh]

Hi Triantus Shango thank you - lovely idea - i sadly doubt we will achieve it. The brokers make their employees sign confidentiality agreements, they say that is for the clients sake -do not believe that. So many brokers are unscrupulous FPA scam pages are full of them and so many people/clients are fighting them in the courts it is laughable if it was not so tragic.

But may be FPA or all it's members could set up it's own brokerage firm at some time to keep all our monies safe, i for one will join -
hmm sounds to good to be true

 

[atalaata]

Seems no doubt you been scammed, but wow! Why have you deposited such a massive sum with these guys! There is no need to use more than a few hundreds dollars to trade.Unless you really know a broker well it just not worth risk.

I have started with 2k, but HFX asked me to buy gold without SL and once market becomes against you , client manager contact and says you must to add money or you lose every thing. This the trick

 

[fxeasy75]

Sad state of affairs. They did seem fishy when they had contacted me couple of months ago to introduce them some clients. Having checked their website with no regulation and no clear address mentioned I ignored them.

If it is of any help, here are some contacts from HFX marketing department. Maybe they can be alerted to this thread.

Natia Gogola natia@hfx.com
James Peterson james@hfx.com

Here's the link to HFX on LinkedIn: HFX Global Ltd. | LinkedIn

WHAT a scambag! Even if he didnt trade the lotsize, at most I heard of, like HotForex, they will withdraw whatever bonuses they have given you. Fair is fair, bonuses have conditions attached to them. But trading PROFITS!??? DONT tell me all of that $ is bonuses??! Really huh, got such brokerages gave this sort of bonuses!!! If they are above board, they should explain the situation as to why the withdrawal was delayed. Ethical brokerages like HotForex, ThinkForex which gave bonuses with trading conditions attach will ALWAYS send the trader a mail to inform them if coz of conditions not fulfilled, bonuses are withdrawn. But whatever profits/losses u made its YOURS!

GUILTY

 

[kantungemas]

Feel sorry for you and any other traders who lose their profits to unscrupulous broker. I was like you and many others back then.. naive.. lesson learned.. to avoid being scammed huge amount of $ i leverage my investment capital with various regulated brokers. Minimal deposit per broker. Thanks for the heads up.

Voted Guilty.