Resolved - ETXCapital (FCA:124721) scamm!

oscarra

2nd Lieutenant
Messages
1,220
Monecor (London) Ltd is a member firm of the London Stock Exchange. Authorised and regulated by the Financial Conduct Authority with Financial Services register number 124721. Please note: Binary Options are not a regulated product.

One of these traps, for sure the FCA does not regulate Binary Options, but if you have an FX account, you should be ok.
 

oscarra

2nd Lieutenant
Messages
1,220
for sure the FCA does not regulate Binary Options
Maybe highlight this once again, it probably will take a couple of years to get a positive answer…:)
FCA does not provide licensing of Binary Brokers, UK. Gambling commission DOES !
What does it mean ??????
 

Max

Private, 1st Class
Messages
55
Colleagues, In ETX Capital I only traded in the Forex market. This process is regulated by law. I will wait as much time as need. We need to get justice.
Perhaps I need to also demand compensation for moral damage? What do you think?
 

mbreitfelder

1st Lieutenant
Messages
622
Maybe highlight this once again, it probably will take a couple of years to get a positive answer…:)
FCA does not provide licensing of Binary Brokers, UK. Gambling commission DOES !
What does it mean ??????
Understood now. NFA is looking into this as well, could be years as well, but connecting them to Banc de Binary might be a little help??? I will investigate the Gambling Commission, thank you for that route!!
 

Max

Private, 1st Class
Messages
55
Friends! I have just received a message from Sanjay Bhurji (Adjudicator | Financial Ombudsman Service). ETXCapital (Monecor (London) Ltd) denies this crime.
They are trying to blame all of the trader from whom they had stolen the money. It can not remain unpunished.
I hope that the Financial Ombudsman Service will not be on the side of the criminals ?!
 

mbreitfelder

1st Lieutenant
Messages
622
The Gambling Commission won't do anything, they do not attempt to get your money back. You will have to find a creative way to get them. The NFA is a good start as they will farm out to the complaint to the appropriate governmental agencies, worldwide. The FBI's ic3 might also be involved but you could file a complaint with them as well.
 

greg.d

Probable recovery room scammer
Messages
18
speaking with the regulation it's dead number, they are lazy and they dont know anything about trading... you need to do a chargeback, if you do not know how to do it let me know... WRONG BROKER NAME REMOVED is one big kitchen that is making money on good people savings

FPA Forums Team Note: If you really have some helpful advice on chargebacks, post it publicly. The FPA has had too many people offering help via private messages who turned out to be trying to scam victims a second time.

Since you didn't even get the broker name right in the post above, we wonder how closely you are even reading the threads before offering your "helpful" advice.
 

Pharaoh

Colonel
Messages
19,899
The Gambling Commission won't do anything, they do not attempt to get your money back. You will have to find a creative way to get them. The NFA is a good start as they will farm out to the complaint to the appropriate governmental agencies, worldwide. The FBI's ic3 might also be involved but you could file a complaint with them as well.
If you are in the USA, CFTC.gov is a good place to start.
 

Marcelo Rosa

Master Sergeant
Messages
265
I traded in this broker almost a year (my account was moved from AlpariUK). Trade was slow. Connection MT4 terminates often, the execution of deals for a long time. Slippage almost constantly.

But, even in these conditions, I was able to make a profit. Each trading day, I received a confirmation e-mail.
After a year of trading, I decided to withdraw my profits and sent a request for withdrawal.

The money disappeared from my account immediately. The broker told me that my trades is removed, because I was not acting "in good faith".
I asked to give me an explanation and evidence, feasibility study and examination results.
I waited 8 weeks of response, received yesterday, there is no new information.
Only after this incident, I learned that so many people suffer from this broker.

At this time, the process starts over them in FCA and the Financial Ombudsman Service.
This can not go unpunished. I hope that UK (FCA) I can not get the support of the US example (NFA) ?!
I want to ask you, as you have dealt with this situation? Who has received support in the Financial Ombudsman Service? To back his money?
Hi Max, I also came from Alpari UK to ETX Capital, I've done few withdrawals and I never had any issues, I don't know how you trade, but removing your profits without notice it's something that needs to be investigated, as this can affect other traders in the future. Hopefully you manage to get out of this situation.
 
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