The above company and trader have lost me AUD 85000 in just over a week. They have been dishonest, have put me into trades that they knew were going to lose, have pressurised and bullied me into trades, have prevented me from accessing money in my account and closing my account and continue to try and entice me back into trading by putting more money into their hands. Please can you help?
I happened across UFX because i decided i had some spare money in my bank account which was offsetting my mortgage and i wanted to see if it could work better for me. UFX rang me up after i signed up to a newsletter and i opened my account initially with $22000 which included some of the 30% bonus. I was given a dealer to assist me with my platinum account (Tom Marks) who started ringing me every day and sometimes several times a day. He spent time taking me through what FX dealing was and asked me to add more funds via a bank transfer as the nofarm payroll was coming out on 7th March and there would be big money to be made. I eventually transferred US$55000 in total. I was hoping to put my money into something safe like Facebook or Google shares, but he assured me that FX dealing was safer than this and more likely to make money. He did a few small deals for me on the Dow Jones and oil which built my confidence and showed me what scalping was. In every deal, he would only put a 'take profit' on and never showed me the 'stop loss' feature. I was completely new to all this so was reliant on his information and teaching on how to use the website. After a few days i decided to try scalping for myself and i made a small amount of money on oil. Unfortunately, i then tried selling oil (10,000 at 104.96 on 4th March) and then the price dropped massively. I realised i was making a loss and take full responsibility for it and asked Tom whether i should just take the loss of $15000 which he said i shouldn't do as support and resistance levels indicated the price wouldn't drop below $103. I believe this was the first of many lies he told me.
Suffice to say the price dropped to just over $100/barrel, i had to add more money to my account to keep a positive equity balance, he suggested i put another deal on to buy oil at $101.20/15000 barrels, both deals dropped again to close to $100/barrel and rather than add more money, i sacrificed my original oil deal to sell when the price of oil was $100.36 making a $46000 loss. Thankfully the other deal to buy at $101.20 went up and i sold at $102.54 making a $20100 profit. So i had lost $26000 which i could handle as i was partly responsible, but what i wasn't responsible for was the fact that Tom saw me put this deal on to sell oil at such a high price when i had no knowledge of the market and did nothing about it, he advised me not to get out of the deal when i was at a $15000 loss which i would have been happy to do because of information which i now believe he fabricated, advised me to get into another deal to buy oil which thankfully worked out but only because i was up all night and i saw when to exit this deal as he certainly didn't advise me of this and ensured that i had to add more money to my account to keep it afloat.
After this i lost all confidence in him so decided to close my account. I emailed UFX via their website and i tried to withdraw funds via their withdraw icon on their webpage. When i tried to do this i couldn't as it said they didn't have my credit card details which is another fallacy as i had used me credit card to open my account and had to fax them a copy of the front and back of the card as well as using it to add more funds when my account nearly folded. By this time, i had put in $20000 more than i could afford and had $44000 in my account. My friend suggested i take money out in stages as the whole company reeked of dishonesty and were making it very hard for me to withdraw money, so i decided to aim to take $20000 out, leaving $24000 which was linked to the bonus. I told Tom this on 9th March when he rang and he told me he would speak to his manager but it would take till the end of the week to get me my money. I believe this is when he decided to make my account fold as i have no other explanation for what happened next.
I work as a doctor and was in the middle of a case when he rang me on Monday 10th March at just before 8am GMT (4pm my time). I didn't want to do any more deals with him but he pressurised me into doing one last deal to try and recoup some of the losses i had made from oil. He promised me that the deal was safe and certain, would not jeapordise my account and would not force me to add more funds to keep my account afloat. He told me to sell 3000XAU Gold at 1332.32 on 10/3/14 at 07.59 with a take profit of $3000 and again no stop loss which i trusted him and i did. It wasn't until i got home later that day, that i realised what an excessively high amount of gold that was, that Bloomberg had just announced that gold was at its most bullish since 2012 and that my account was immediately in danger as every $3 change in the price of gold was equivalent to $10000 in my equity. I was already $10000 in the red. When i spoke to Tom, he reassured me that this was just a temporary increase in price that he had very good evidence that the price of gold was going to drop by $20 from $1040, that support and resistance levels showed it wouldn't go up past $1044 thus keeping my account safe and that i should go to sleep knowing that my account was not in any danger and that i would make a nice profit by the morning. As i was trying to sleep at close to midnight, he again rang me to put more deals on gold and also on silver as they had reached the maximum price and were dropping and i should capitalise on that. He made me $5500, again i believe to build my confidence that he could make me money so that i would inject more money into my account to keep it afloat and end up losing more and more as i desperately tried to save my account. Within 24 hours, he had lost me $47250 on the original gold deal and a further $11250 on a silver deal. I added another $10000 into my account but was stopped from adding any more by my friend which was just as well as gold increased from $1332/XAU to 1382 and i would have had been $166000 in the red trying to keep my account afloat. When all my deals were going bad, Tom would make himself unavailable to discuss them as he was in a meeting thus preventing me from getting any advice about an early strategy to try and save a small amount of money that i had put into my account.
I am absolutely disgusted with Tom and UFX Markets generally. I believe they have either not put the deals on gold and silver on and have pocketed my money or i believe that Tom's bonus is dependent on making clients lose money on the market as previous FX companies have been sued for. I have complained about Tom and eventually have been put through to his manager called John Andrews who has given me a bland answer saying 'The decisions Tom made according to market conditions were the best possible as the market showed that day'. I believe this statement to be a lie, as Bloomberg had just announced how well gold was doing and if i hadn't been in the middle of work and had been at home to research this deal i would never have put it on. My account wasn't protected at any time by putting stop losses on any deals, i believe that information Tom said he had about the market has been falsified, i have been pressurised and bullied into deals that i know nothing about and have been certain to lose, i haven't been able to withdraw money from my account when i requested it and i've been manipulated into adding more money to my account to keep it afloat.
I am unsure as to where to go next. I have all evidence including email correspondence and snapshots i've taken of my account which i can send to you. As a professional, i feel absolute embarassment that i've been duped by con-artists and that i have lost such a large amount of money from my mortgage. I have spoken to a lawyer who says it is very difficult to reach foreign companies who are based in Belize so you are my only option. Please help.
I happened across UFX because i decided i had some spare money in my bank account which was offsetting my mortgage and i wanted to see if it could work better for me. UFX rang me up after i signed up to a newsletter and i opened my account initially with $22000 which included some of the 30% bonus. I was given a dealer to assist me with my platinum account (Tom Marks) who started ringing me every day and sometimes several times a day. He spent time taking me through what FX dealing was and asked me to add more funds via a bank transfer as the nofarm payroll was coming out on 7th March and there would be big money to be made. I eventually transferred US$55000 in total. I was hoping to put my money into something safe like Facebook or Google shares, but he assured me that FX dealing was safer than this and more likely to make money. He did a few small deals for me on the Dow Jones and oil which built my confidence and showed me what scalping was. In every deal, he would only put a 'take profit' on and never showed me the 'stop loss' feature. I was completely new to all this so was reliant on his information and teaching on how to use the website. After a few days i decided to try scalping for myself and i made a small amount of money on oil. Unfortunately, i then tried selling oil (10,000 at 104.96 on 4th March) and then the price dropped massively. I realised i was making a loss and take full responsibility for it and asked Tom whether i should just take the loss of $15000 which he said i shouldn't do as support and resistance levels indicated the price wouldn't drop below $103. I believe this was the first of many lies he told me.
Suffice to say the price dropped to just over $100/barrel, i had to add more money to my account to keep a positive equity balance, he suggested i put another deal on to buy oil at $101.20/15000 barrels, both deals dropped again to close to $100/barrel and rather than add more money, i sacrificed my original oil deal to sell when the price of oil was $100.36 making a $46000 loss. Thankfully the other deal to buy at $101.20 went up and i sold at $102.54 making a $20100 profit. So i had lost $26000 which i could handle as i was partly responsible, but what i wasn't responsible for was the fact that Tom saw me put this deal on to sell oil at such a high price when i had no knowledge of the market and did nothing about it, he advised me not to get out of the deal when i was at a $15000 loss which i would have been happy to do because of information which i now believe he fabricated, advised me to get into another deal to buy oil which thankfully worked out but only because i was up all night and i saw when to exit this deal as he certainly didn't advise me of this and ensured that i had to add more money to my account to keep it afloat.
After this i lost all confidence in him so decided to close my account. I emailed UFX via their website and i tried to withdraw funds via their withdraw icon on their webpage. When i tried to do this i couldn't as it said they didn't have my credit card details which is another fallacy as i had used me credit card to open my account and had to fax them a copy of the front and back of the card as well as using it to add more funds when my account nearly folded. By this time, i had put in $20000 more than i could afford and had $44000 in my account. My friend suggested i take money out in stages as the whole company reeked of dishonesty and were making it very hard for me to withdraw money, so i decided to aim to take $20000 out, leaving $24000 which was linked to the bonus. I told Tom this on 9th March when he rang and he told me he would speak to his manager but it would take till the end of the week to get me my money. I believe this is when he decided to make my account fold as i have no other explanation for what happened next.
I work as a doctor and was in the middle of a case when he rang me on Monday 10th March at just before 8am GMT (4pm my time). I didn't want to do any more deals with him but he pressurised me into doing one last deal to try and recoup some of the losses i had made from oil. He promised me that the deal was safe and certain, would not jeapordise my account and would not force me to add more funds to keep my account afloat. He told me to sell 3000XAU Gold at 1332.32 on 10/3/14 at 07.59 with a take profit of $3000 and again no stop loss which i trusted him and i did. It wasn't until i got home later that day, that i realised what an excessively high amount of gold that was, that Bloomberg had just announced that gold was at its most bullish since 2012 and that my account was immediately in danger as every $3 change in the price of gold was equivalent to $10000 in my equity. I was already $10000 in the red. When i spoke to Tom, he reassured me that this was just a temporary increase in price that he had very good evidence that the price of gold was going to drop by $20 from $1040, that support and resistance levels showed it wouldn't go up past $1044 thus keeping my account safe and that i should go to sleep knowing that my account was not in any danger and that i would make a nice profit by the morning. As i was trying to sleep at close to midnight, he again rang me to put more deals on gold and also on silver as they had reached the maximum price and were dropping and i should capitalise on that. He made me $5500, again i believe to build my confidence that he could make me money so that i would inject more money into my account to keep it afloat and end up losing more and more as i desperately tried to save my account. Within 24 hours, he had lost me $47250 on the original gold deal and a further $11250 on a silver deal. I added another $10000 into my account but was stopped from adding any more by my friend which was just as well as gold increased from $1332/XAU to 1382 and i would have had been $166000 in the red trying to keep my account afloat. When all my deals were going bad, Tom would make himself unavailable to discuss them as he was in a meeting thus preventing me from getting any advice about an early strategy to try and save a small amount of money that i had put into my account.
I am absolutely disgusted with Tom and UFX Markets generally. I believe they have either not put the deals on gold and silver on and have pocketed my money or i believe that Tom's bonus is dependent on making clients lose money on the market as previous FX companies have been sued for. I have complained about Tom and eventually have been put through to his manager called John Andrews who has given me a bland answer saying 'The decisions Tom made according to market conditions were the best possible as the market showed that day'. I believe this statement to be a lie, as Bloomberg had just announced how well gold was doing and if i hadn't been in the middle of work and had been at home to research this deal i would never have put it on. My account wasn't protected at any time by putting stop losses on any deals, i believe that information Tom said he had about the market has been falsified, i have been pressurised and bullied into deals that i know nothing about and have been certain to lose, i haven't been able to withdraw money from my account when i requested it and i've been manipulated into adding more money to my account to keep it afloat.
I am unsure as to where to go next. I have all evidence including email correspondence and snapshots i've taken of my account which i can send to you. As a professional, i feel absolute embarassment that i've been duped by con-artists and that i have lost such a large amount of money from my mortgage. I have spoken to a lawyer who says it is very difficult to reach foreign companies who are based in Belize so you are my only option. Please help.
