Master Yoda
Captain
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I guess the NFA has the authority to handle a non-US broker which operate in the US
Resolved FXDD will not process withdrawal.
- Thread starter chitak
- Start date
-
- Tags
- fxdd resolved issue cftc nfa
Oh yeah I'm pretty sure the NFA has jurisdiction here. FXDD probably doesn't even have staff in Malta, it is a US based company. Can't wait to see how much of a fine they will have to pay the NFA/CFTC for trying to take my $1500.
A small update. Today I filed a complaint with my credit card as I used a credit card to deposit, hopefully the credit card company will help me get my initial deposit back. Also I filed a complaint with the CFTC today, just another government agency that could get involved, and the CFTC really has some power to give out fines, they won't help me get my money back though.
Next step I am filing a reparations complaint with the CFTC, this is what I was advised. This is basically a court and they could help get my money back if they rule in my favour of course which is almost 100% sure as the trades were not amended within 24 hours, FXDD will have a really hard time getting the CFTC to rule in their favour. I will wait a little longer before going that route as I want to get this case up for voting first and give FXDD a little more time to give me money back.
Next step I am filing a reparations complaint with the CFTC, this is what I was advised. This is basically a court and they could help get my money back if they rule in my favour of course which is almost 100% sure as the trades were not amended within 24 hours, FXDD will have a really hard time getting the CFTC to rule in their favour. I will wait a little longer before going that route as I want to get this case up for voting first and give FXDD a little more time to give me money back.
I am now trying to get my initial deposit back through a dispute with my credit card as the account was funded with a credit card. I filed a dispute with my bank describing what happened that a forex broker is not processing a withdrawal and that I've made a profit on my account, hopefully the credit card company at least gives me my original deposit back, which is $3000.00.
*Update - I have not heard anything from FXDD since around Aug 6th, and my withdrawal request has not yet been processed.
*Update - I have not heard anything from FXDD since around Aug 6th, and my withdrawal request has not yet been processed.
I have filed with the NFA already however I haven't received anything yet, they are probably slow as you said Pharaoh.
I have created a MyFxbook account for the FXDD account here so I could show my trades on the account - AL FXDD System | Myfxbook
Pharaoh
Brigadier General
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- 20,308
Give the NFA a call and see if you can find out who's looking at your case. Worst case, you waste an international call and a few minutes of your time. Best case, you get direct contact with the NFA person on the case and can then see what can be done to provide more info and speed things up.
Great news. I suppose FXDD did not want the NFA and CFTC to investigate them again. FXDD has just been ordered to pay
restitution to clients of nearly 2M for asymmetrical slippage as well as 2M fine.
