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Resolved - Regulated broker scams £7000+ EuropeFX.com

Discussion in 'Resolved Issues' started by MiliC8, Apr 25, 2018.

  1. MiliC8

    MiliC8 Private, 1st Class

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    I had deposited in total: £11,500 and withdrawn £2.400 in my EuropeFX.com account no: 6271941 which was held approximately for 9 - 10 months during 2017 - 2018.
    Withdrawals were easily accessed and prompt. Support for closing trades manually for end of contract assets i.e. CL were efficient and signals fine.

    Once affiliated with The Brokers Academy coaching and tutoring on use of a platform was exemplary. Generally my experience as a newbie trader and investor was satisfactory until EuropeFX changed to a new server. There was only one incident of retroactive charging for CFD fees i.e. Amazon.

    My EuropeFX account no: 6271941 balance was £7095.99 on 02.02.2018

    On 06.02.2018 with EuropeFX changing to a new server my newly created account no: 10103115 did not have transferred my open trades, margin and balance. The final balance was £17.57.

    During this lapse of time from Friday when markets close 02.02.2018 to Tuesday 06.02.2018 I was unable to log in and close or open trades. On Sunday evening 04.02.2018 with the markets opening, I attempted accessing the platform on both my lap-top and iPhone. Upon discovering my account was disabled, I skyped text Giacomo, educational specialist and analyst on Monday 05.02.2018 who instructed me to uninstall the old, reinstall the new server. This process further required a new password for which an email was forwarded to me by EuropeFX.

    I had completed the "uninstall/reinstall" process on my own and then requested assistance from Giacomo as the balance of funds was not transferred. On Tuesday 06.02.2018 this procedure was repeated with Giacomo and funds still did not appear. Giacomo requested my mobile number.

    Giacomo had referred me to Miltos Erotokritou, Senior Relationship Manager who immediately queried, upon accessing my new acc: 10103115 if I could access funds to trade on Nasdaq within the next 30/60 days to recover my losses. My balance had fallen from £7095 and while I watched to £414. Then eventually £17.57 as he negotiated with me.

    Following I forwarded an email on 06.02.2018 @17:44 addressing Miltos Erotokritou via backoffice@europefx.com requesting my account be reinstated and my funds be reimbursed. I stated that my account no. 6271941 had been disabled causing me to have no access to close or open trades. Also that my request should be regarded as an official complaint which I trusted EuropeFX would respond to by putting matters right. I added that I would be reporting to CYSEC in due course. I received an "investigative call" from Richard the following day.

    Since I have emailed including my supporting evidence to whistleblowing@cysec.gov.cy
    and
    complaints@financialombudsman.gov.cy
    In spite of reiterating my complaint to Gidon Shuman responsible for quality control @EuropeFX my requests for acknowledged receipt and a Unique Reference Number dated 05.04.2018 has been ignored. My initial complaint and first request for a U.R.N. was dated 06.02.2018 and 13.02.2018 respectively. The earlier request for a U.R.N. was also
    ignored.

    Yesterday on Monday 23.04.2018, Michael an Accounts Manager of EuropeFX phoned to discuss my account and opportunites currently available to trade and invest on. We spoke of Facebook, Amazon and Google...and he asked if I had previously traded on these assets. My answer was affirmative. When I mentioned that I was reluctant to move capital into my account due to issues remaining unresolved he seemed uninformed of my situation. I explained in more detail to which his response was that he'd find out and also suggested that I had lost my capital due to a margin call.

    EuropeFX.com are loathe to validate my complaint. Fortunately I have screenshots of my trades prior to my account being disabled. Later shots of Giacomo’s instructions on Skype concerning installing the new server I’ve also retained.

    In conclusion I welcome comments and advice.
     
  2. FxMaster

    FxMaster Lt. Colonel

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    Few steps that you must follow to draw their attention to your issue,
    Follow the suggested steps below:
    Invite them to join this thread via email (Send an email to every possible address).
    Go to their website and invite them to here via Live Chat
    You will find their email and address here https://europefx.com/meet-europefx/contact/

    Also, Share your story as a review here http://www.forexpeacearmy.com/forex-reviews/14849/europefx-forex-brokers

    You can also share your story on their social media pages mentioned below:
    https://www.facebook.com/EuropeFX/ (Click on MORE and you will find write review option there)
    https://twitter.com/europe_fx
     
  3. FxMaster

    FxMaster Lt. Colonel

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  4. bo2EuropeFX

    bo2EuropeFX EuropeFx Representative

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    Dear client,
    Please accept our apologies as I see you feel disregarded, it is in no way the case, please know that your very serious claims are already under inquiry and a thorough audit of our IT is undergoing. We take your allegations very seriously and are checking the possibility of a glitch during the upgrade of our platform. It is important to specify that we indeed made an upgrade to our system, but it was done during closed markets hours, meaning no trades could be affected from it, as no position could be open nor close during that period of time.
    We are also investigating the possibility of trades not being transferred, which would of course, be a singular anomaly.
    As you see, we heard you and are gathering all the data necessary in order to threat your allegations with accuracy and professionalism.
    Please allow up to 7 business days for our investigation to bring us accurate answers, which we will be able to share with you. Rest assured that was there to be any error, bug or glitch of our system to be found, we will credit your account with the due value and your funds will be available for you to withdrawal as you easily did in the past as spontaneously shared with us.
    Thank you for your feedback and we are looking forward to provide you with the outcome of our inquiry.

    EuropeFX Customer relations support
     
  5. oscarra

    oscarra 2nd Lieutenant

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    MiliC8 likes this.
  6. MiliC8

    MiliC8 Private, 1st Class

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    I submitted my trades and following screenshots dated as follows:
    22/1/18 balance 5627.31
    24/1/18 5889.59 [13.05]
    24/1/18 -2711.01 [13.33]
    27/1/18 7,038.59
    2/2/18 7,095.99

    I understand these have been referred to as data compilation Europefx were expecting from me. During this week Monday April 30th - Friday 4th May I have been engaged with phone conversations predominantly with Gidon Shuman assigned to handling my case and more intermittently other personnel. Notably negotiation ensued as to how much I was expecting to be refunded. I asked for GDP 7,095.99 as this was the balance of my account before being disabled. Glitch or no glitch. I was informed that swap fees had been applied to S&P500 & two other currency pairs leaving me with £5000. Instructions were discussed as how this sum was to be paid & I requested by IBAN/Swift to my bank account.
    The waiver form was emailed to me which I must sign in order to be paid my £5000.
    I cannot sign this form. This form for me is a gross infringement on my rights as an individual, coerces me to be an informant of others who may have their own legitimate complaints with Europefx and subjects me to a precarious financial position.
    I have deliberated over whether I should keep this document confidential and have considered negotiating changes in the clauses. I have as yet to discuss this form with a lawyer as I expressed to Gidon that “I feel signing makes me vulnerable and I need to safeguard my own interests”.
    I am sharing this waiver form to inform possible prospective clients and I reject that I have been unreasonable or slanderous in making my complaint known.
     

    Attached Files:

    oscarra likes this.
  7. MiliC8

    MiliC8 Private, 1st Class

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    The waiver form should be re-named non-disclosure. Definitely impacting my right to freedom of speech. When I addressed my complaint to Europefx initially I was ignored. I received only phone calls and no written correspondence or emails. FPA forum has proven effective in providing an unbiased platform. Thank you ForexPeaceArmy.
     
    oscarra likes this.
  8. oscarra

    oscarra 2nd Lieutenant

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    [​IMG]
     
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  9. 4evermaat

    4evermaat 2nd Lieutenant

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    I think you should proceed with an FPA court case, if you have not already done so.


     
  10. oscarra

    oscarra 2nd Lieutenant

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    Also a Registered Letter to ESMA :mad:

    …nasty EU Brokers still pretend their Terms & Conditions are LAWS, we see across various Fpa threads to what point it gets grotesque, next of course whenever these failures are revealed on public side, clients will be promised to be sued…whereby these brokers are liable to be prosecuted by EU criminal courts, regulated or not, it doesn’t matter!

    Let’s dig some more into those criminal waiver BS
     
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