Resolved - FXDD Withdrawal Problems

[Nokuchikushi]

I have been trying to close my accounts with FXDD Malta for some time now (more than two weeks). First of all, the withdrawal process is needlessly tedious. You have to download and sign a form and then email or fax back to them. They will refuse it if you use your computer to sign the form, even though this form of signing is recognized worldwide as legitimate. Then they have a parade of excuses. One was the person was out of town attending a funeral. I don't know why this would interfere with my funds withdrawal, but apparently it does. FXDD keeps sending requests for SWIFT codes that they already have, and even my bank has written to them on my behalf to address this concern. Then, they just stop responding. Bottom line, they do everything they can to delay and delay until, I guess, they assume that I'll give up and stop asking. Not a chance. This smells of SCAM to me. There is no reason for any of their actions unless they intend to steal my money.

 

[Pharaoh]

Time to do two things.

One - have a chat with whatever regulator the Malta branch is under.

Two - Send an email to every address you have for FXDD. Invite them to come to this thread and explain how you can get access to YOUR money.

 

[Nokuchikushi]

Time to do two things.

One - have a chat with whatever regulator the Malta branch is under.

Two - Send an email to every address you have for FXDD. Invite them to come to this thread and explain how you can get access to YOUR money.

After three weeks of asking, they have responded and said that they are in the process of refunding my money and that it may take up to 7 business days to receive it. Now on day 3 of 7, so we'll see if the refund is actually on its way or they are just buying more time. Regardless, I will never use them again as withdrawing MY money is next to impossible with them.

 

[Pharaoh]

Keep this thread updated so everyone can know if you finally got your money or not.

 

[Nokuchikushi]

Keep this thread updated so everyone can know if you finally got your money or not.

I will. I misspoke about the length of time, probably because I was so pissed off at them. To make a withdrawal, you have to fill out a form and email or fax to them. Stupid. They kept rejecting the form. First they said that they wouldn't accept my signature because it was stored on my computer. Don't know how they arrived at that, but to expedite things I printed and filled out the form by hand. Then it was an endless parade for two days about they would not accept the SWIFT code. Then they would not accept a transfer through an intermediary bank. My bank is not in the US and performs thousands of transfers every day through their intermediary bank. My bank wrote them to tell them so. I wrote to my account rep but she said she was out of the office for an unspecified number of days and would "attend to it when she returned." It was clear they were stalling for time to send the transfer. In the meantime, thought they said they have rejected the forms, they wasted no time in closing out my trading accounts. No trading account, no transfer, more than two weeks of free money for them to use as they please.

I originally asked for the withdrawal on January 6. It is now January 22 - that's 16 days and unacceptable. Last week, I wrote them again and they said that my transfer was being processed and to wait 7 to 10 business days. Today is Friday and the money has not arrived. Why it takes a few hours for the money to get from my bank to theirs and 7 to 10 days for them to return it is absolutely beyond me. Where is that money for 7 to 10 days? Not sitting in the transfer bank. Not sitting in my bank. The money gets moved with the push of a button. It's sitting in their account, for sure. This is bull****.

I should have known better. One time I made a Neteller deposit to them and it was rejected because I was in the US at the time and made it from the US. It took two weeks for the money to get back to me. I found out the whole time it was sitting in FXDD's account. They blamed Neteller, but Neteller showed me that they delivered the money to FXDD. That should have been a red flag. Sometimes I'm not too smart.

I have sent them a link to this forum and asked them to respond. Let's see if they have anything to say for themselves.

 

[Nokuchikushi]

Today is three weeks. Still no transfer.

 

[Nokuchikushi]

I have an update. It took the money two weeks to arrive at my bank but FXDD Malta did send the withdrawal. Unfortunately, there is something wrong with the transfer, it was not done correctly, and has been sitting in limbo in the intermediary bank in the US for a week. And I have no way to get it out, it seems. They want to send it back to FXDD, so that will take another month or so before I see my money (if ever). Withdrawals with FXDD have always been problematic and take far longer than they should. Deposits too, for that matter. With them it seems that money is in transfer forever. BUT, they did send it. I'll give them that.

 

[Pharaoh]

Chances are it will end up going back to FXDD. I hope they don't charge you an fees for the failed transfer.

 

[Nokuchikushi]

Chances are it will end up going back to FXDD. I hope they don't charge you an fees for the failed transfer.

I hope they do not as well. Banks in my country were closed today so I will see what they say tomorrow. Since FXDD took two weeks to send it in the first place, if they get it back that will be two weeks to receive it and two weeks to send it back. I do not know why they take so long. If I transfer money to them from my bank it arrives the same day. They say it takes up to two weeks for their bank to process a transfer. I suggested they get a new bank if that was really the case. At any rate, they are really pissed at me about this thread and if the money goes back to them I probably will never see it again.

 

[hello966]

any update on the withdrawal?