Resolved - Forex4You stay away!

Trader35

Recruit
Messages
5
Forex4You (another name E-Global Trade & Finance Group, Inc.), seems like has a big problem with authorities.

Several days after receiving money from the broker, we have got a message (see attachment) that this transaction is cancelling per BNY Mellon compliance for the E-Global Trade & Finance Group, Inc. (another name of Forex4You broker). The customer support of the Forex4You broker keeps silence and do not replying for our requests.

So, be aware - you might not get your money back from this broker!
 

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Trader35

Recruit
Messages
5
Have you contact theirs customer support or not yet ?

Yes, I have contacted their customer support and this support in this broker is another story:

I have sent them several messages by my email which isregistered with them - silence (previously I have had conversations with them by this email). Later I have called them, they talked that they have not got my messages and asked me to contact them using trader room. I asked them in the trader room why my payments were canceled. Finally, I have got an answer from Finance dept., they told me that they see no problem, my requests for payments went through well and they will set investigation for the issue.

Several days later I asked them for copies of swifts for my payments and if there any news - they replied "no news" but haven't sent me swifts. Later I asked them several times if I can get swifts for these payments and if there any news - no replies.

At the beginning, when I register this account with them, I asked some questions by email and the customer service replayed to me with not adequate answers - it was very strange behavior: when I asked them questions about "A" but they replied to me with answer about "B".
 

Pharaoh

Colonel
Messages
20,029
Ask your bank if they can get any more information about the cancellation.

Gather all information about your account and take screenshots of everything.
 

Pharaoh

Colonel
Messages
20,029
I hope your bank can get more info. It's a very bad sign when a bank's compliance department starts blocking wires from a broker.
 

JurisL

Forex4You Representative
Messages
1
Dear trader35,

We sincerely apologize for the issue occurred and fully understand your concerns. You may rest assured, that the issue in question is an exceptional case and does not reflect the current state of our company.

Whenever an USD bank wire transfer is made an intermediary (correspondent) bank is involved. Since we do not work with these banks directly, we are unable to take part or influence their decision in respect to any particular wire transfer in any way. In addition, due to bank policies such information is never shared, hence it is practically impossible for us to obtain an explanation for the decline.

We understand the inconveniences, and hence, not to delay your withdrawal further (and since you have provided us with sufficient proof of the decline), we have credited your account for the withdrawal amount, even though the original funds still have not been returned to our bank. We wish to resolve the issue for you as soon as possible and would like to offer you making a withdrawal in EUR to ensure safe and fast delivery of the funds (our company shall cover any costs associated, such as commissions and currency conversion). If you would like to receive your funds in EUR, please kindly provide us with your EUR account bank details. You may send these to info@forex4you.org and we shall process your withdrawal straight away.

Yours sincerely,
Forex4you
 

Trader35

Recruit
Messages
5
Hello,

Finally, Forex4You (another name E-Global Trade & Finance Group, Inc.) have resolved this issue.

Thank you.

Best regards,
 

FxMaster

Lt. Colonel
Messages
10,094
Its always pleasure to see resolved case :)

Best of luck for your future trading.
 
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