RESOLVED: Fx-private wont pay my hard earned profit

[Ibrahim Adam]

Dear traders

I have been in this industry for a long time an i am not a naive trader who break rules and cheat with brokers..please read my story carefully my fellow traders

I opened an account with fx-private broker and deposited only 80$ and i managed to turn that 80$ to 480$,an obviously that was my only mistake.
i submitted a withdrawal request for 200$ and managed to get that after several contacts and pleading with the company,then when i tried to withdraw 260$ they started the game with me..i will attach screen shots of my chat with them and also from my trading history and also my trader cabinet

my withdrawal was submitted in 24/04/2015 and they totally ignored it then i contacted them in 30/04/2015 and their answer was (your withdrawal request will be processed today) so i though maybe i was unfair to them after all,then the day passed without any withdrawal.
then i contacted them again in 01/05/2015 and i told them that they haven't fulfilled their promise they answered that today finance is closed for holiday and you should contact us in Monday.
then i contacted them Monday 04/05/2015 their answer was (your withdrawal will be processed tomorrow).
then tomorrow came and no withdrawal yet processed and i contacted them again they said (your withdrawal will be processed today).
then the end of the day came without any withdrawal i contacted them again and asked them why thy didn't fulfill their promises for the 3rd time,then they came with new story (your account is being verified by finance and we will process as soon as possible).
i told them that what does (as soon as possible mean) and it has been tow weeks now..they said that i should just watch my withrawal status in trader cabinet and just wait for (as soon as possible) to come. here i know that i am being scammed and i am an old follower to the forexpeacearmy community so i though i would take my case to be solved here in front of my fellow traders.

Note: Please find screenshot of my chat with fx-private support and i will also attach screen shot of my account report and trader cabinet.

Regards
Ibrahim Adam

 

[Master Yoda]

They are clearly stalling you...

Their website is in Russian, can you tell me if they are regulated anywhere?

Go ahead and invite the broker via chat/email to join this thread.

Good luck

 

[Ibrahim Adam]

They are clearly stalling you...

Their website is in Russian, can you tell me if they are regulated anywhere?

Go ahead and invite the broker via chat/email to join this thread.

Good luck

Hello Master Yoda,they have an English version of the website Dealing Center FX-PRIVATE
I have invited them by email to join this thread so we can discuss the mater,now am checking their regulation status although i should have done that before i deal with them

 

[Master Yoda]

They are Belize registered, why won't you file a complaint through the Belize regulator? Contact Us | International Financial Services Commission

FxPrivate Company Ltd is registered on Belize.
Legal address: #1 Mapp Street, Belize City, Belize
Registration number: 111 58

 

[Ibrahim Adam]

They are Belize registered, why won't you file a complaint through the Belize regulator? Contact Us | International Financial Services Commission

FxPrivate Company Ltd is registered on Belize.
Legal address: #1 Mapp Street, Belize City, Belize
Registration number: 111 58

Hello Master Yoda,
Thank you so much for your replay and advice..i filed a complaint against them in International Financial Services Commission and waiting for their replay and once it comes i will share it here in the thread.

Regards

 

[RahmanSL]

Website: w ww.fx-private.com
Year since: 2011
Headquarters: Belize City, Belize
Company registration: FxPrivate Company Ltd. (reg#111588), Belize
Regulation: Not regulated

My only surprise is that they even allow you to withdraw the first time and with profits too.....you were supposed to loss money with them

There are 6 reviews on this broker here at our FPA and 2 on another site and ALL OF THEM gave them a "scam" rating.

So, all that I would like to add further is: Good luck with the rest of your withdrawal request.

 

[Ibrahim Adam]

Website: w ww.fx-private.com
Year since: 2011
Headquarters: Belize City, Belize
Company registration: FxPrivate Company Ltd. (reg#111588), Belize
Regulation: Not regulated

My only surprise is that they even allow you to withdraw the first time and with profits too.....you were supposed to loss money with them

There are 6 reviews on this broker here at our FPA and 2 on another site and ALL OF THEM gave them a "scam" rating.

So, all that I would like to add further is: Good luck with the rest of your withdrawal request.

Hello RahmanSL
You are totally right about that and am asking myself the same question,why did they allow my first withdrawal although i got it after a lot of chatting and pleading with them which made me withhold trading and request withdrawing of the rest of the fund,and now maybe they thought that it is enough to withdraw 200$ profit out of 80$ deposit,this type of behavior really kills our forex dream and make every trader worries about making big amount of money in the market because brokers will not allow it.

 

[RahmanSL]

Well, at least you managed to get more money than you deposited.....consider yourself very lucky!

Go with well regulated brokers because they will not try to prevent you from withdrawing your money/profits because that's very easy to prove to their regulators.
BUT with well regulated brokers, be very careful and mindful of what's going on with your trades because that's where some regulated brokers can and will manipulate your trades through MT4 trading platform which is designed for brokers to use "plug-in".....and since these regulated brokers also have many servers located in different countries, they can also switch you to one of their worst server which have slower and wider spreads.

I know these are going on because my ASIC broker ICMarkets (whom I use to trust once-upon-a-time) have manipulated my trading accounts which are very difficult to prove.

Which ever broker you chose to go with, make sure it's well regulated;yah!

 

[Ibrahim Adam]

Well, at least you managed to get more money than you deposited.....consider yourself very lucky!

Go with well regulated brokers because they will not try to prevent you from withdrawing your money/profits because that's very easy to prove to their regulators.
BUT with well regulated brokers, be very careful and mindful of what's going on with your trades because that's where some regulated brokers can and will manipulate your trades through MT4 trading platform which is designed for brokers to use "plug-in".....and since these regulated brokers also have many servers located in different countries, they can also switch you to one of their worst server which have slower and wider spreads.

I know these are going on because my ASIC broker ICMarkets (whom I use to trust once-upon-a-time) have manipulated my trading accounts which are very difficult to prove.

Which ever broker you chose to go with, make sure it's well regulated;yah!

The problem is the best regulated brokers do not accept small deposits and also o not support most e-payment system,
We as traders should not only be thankful for getting more than we deposited it is our right to get 100% of our profit because we made it by taking a huge risk on our capital so it is not fair for brokers to deny our profit withdrawal.
I hope company representative join us here to explain the matter for us as they are not giving me any information when i contact them.

 

[Ibrahim Adam]

Still trying to get fx-private to join this thread and tell their point of view but they are not responding.