RESOLVED Case# 2013-092 | Manish D Pujari vs www.iforex.com

[Manish D Pujari]

Original FPA Traders Court Submission:

I am submitting the case against: www.iforex.com

My Case is: I have requested for refund from IForex to my card and they said they processed the refund however I do not see any refund transaction from Iforex to my card. Hence I called Iforex after almost 30 days and they have given me two ARN no and asked me to contact my bank to track the Fund. I called my Bank and they could not track through the give ARN no and asked me to get the Telegraphic transfer copy (TT copy) from Iforex if they have done any such transaction. Hence I called my account manager Mr Allwyn and he refused to give the TT copy, instead asked me to get email from my bank stating that they cannot track fund through ARN nos . I requested my Bank to send me that email and they sent me mail stating that they cannot track the fund with ARN no and they require the TT copy to investigate. I forwarded my Bank email to my account manager and since then he is not calling me or reverting me in spite of sending several mails. I have even sent mail to compliance department and there is no revert and I am helpless now , please help as i have invested more than $1600 and not received a penny.

New thread in the Scam Alerts Folder:

• https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/26501-iforex-com-cannot-withdraw-fund.html
  

Review is submitted by MANISH on 07/22/13

The company was first contacted about the issue on 07/10/13 the last contact was on 07/22/13

Company representatives' emails: Allwyn T <allwynt@iforex.com>

 

[Pharaoh]

Send an email to Allwyn and anyone else you have an address for at iForex. Invite them to come to your public thread in the Scam Alerts Folder to explain the delay.

 

[Manish D Pujari]

I have sent email to my account manager Allwyn at allwynt@iforex.com, compliance@iforex.com and cs@iforex.com, also have mentioned my scam alert folder address and invited them to explain the delay.

regards ,
Manish Pujari

 

[Manish D Pujari]

I have already sent email to Allwyn however there is no response from him our iforex and it is more than 2 weeks now , please guide me what to be done

 

[AsstModerator]

I'm sending a formal invitation now. Please go ahead and post an update about not being contacted in your thread in Scam Alerts.

 

[AsstModerator]

No reply. This one is going public.

 

[Master Yoda]

It's been a long time and I am starting to suspect that they didn't send the funds.
Did Manish filed a complaint to the regulators?

 

[adil149]

Really sad to read scams every other day on FPA, specially about withdrawals,

I have no idea why people don't do a proper homework and a research before depositing their funds to any 'broker'.
I suggest to trust a broker which is a subsidiary of a bank. Specially when you are making serious deposits.

No, iforex,xforex,gforex,bforex, or brokers with ads screaming you to make a deposit and their call agents calling and begging you for deposits is very clear to understand.
Its not their fault if you lose or they don't give back you your money, its your fault to trust them at the first place.

Make sure who is the auditing firm of the broker before you choose in future.
Opening a live accounts and showing funds inside a 'live' mt4 account to the client is very simple, and in reality when you lose,
and these phony brokers with a catchy website and a cheap live support chat, they keep your funds with them.

Regulated Brokers offering STP accounts, No dealing desks involved, and annually audited with renowned auditing firms should be preferred.

 

[prasanna316]

Really sad to read scams every other day on FPA, specially about withdrawals,

I have no idea why people don't do a proper homework and a research before depositing their funds to any 'broker'.

Dear adil

First of all very few regulated brokers are available, secondly even regulated brokers play mischief knowing fully well that forex trading in India is illegal, hence you can not go to regulatory authority to complain.

Prasanna

 

[Bemdoo]

I think it will be best if we can create a list of all questionable brokers, thereby preventing others from falling into the same "trap". Likewise, we should also have a list of all currently unquestionable brokers, and update the list once a scam or questionable behavior is identified or a guilty verdict is gotten against the broker. This will make our voices "more heard" and as a movement be able to prevent/ or move people en masse away from such brokers.