m.k.shaheen
Private
- Messages
- 18
Hello friends,
My Name is Mohammed Shaheen and I will try to explain my problem with UFX Markets so I hope that everybody be careful and learn how they trying to make their customer lose their money.
How I started with UFX Markets?
First I opened a demo account with UFX Markets and some other brokers without real search about if those brokers are regulated or my money will be safe with them, this is my big mistake I just think it will be only a demo and I will do that later. Just to test their platforms and trade execution.
I started receiving calls from them but I have to say UFX Markets sales people are the best to let you buy anything they want.
My Lucky Days:-
I start with them on June, 25, 2012, I open a standard account with S 1,000 I was thinking it is just a small capital just to test in a real trading conditions,
Then in the second day my first account manager Mahmoud Naser he call me and ask me if I can increase my capital so I can make a lot more gains,
My answer in the beginning was no, I just started and still trying the company.
Later in the same day he call me again and he gave me a trade recommendation to open a standard lot 100.000 AUDUSD contract on my 1000 account balance, and the deal closed with profit of $100.
Immediately after the deal was closed he call me and tell me you see how much profit you can make but you have only $1000 and if you increase your capital, your profit will be better than your career job.
I agree and next day I deposit another $4000, now my capital is $5100 and I am eager to make profits.
Mr. Mahmoud keeps calling me and gives me trade recommendations with high contract size like 300oz of gold and 500.000 for currencies and when my account went deep in open position loss he call me again and ask me to deposit more money to protect my capital and he gave a recommended amount that near my credit card remaining balance I think the finance their can check what balance remaining on their customers credit cards.
Anyway I think I was too lucky those days that my account reached $9,700 on July, 16,2012. The final deal then was a 50.000 oz of silver that supposed to close my account on no time, but the luck is luck, and I was still lucky.
Start of the Problems
The reason for that big contract on silver Mr. Mahmoud my first account manager recommended to me because 1- he know for sure that I will not deposit more money and 2- because I ask him for a withdrawal from my account.
After that deal I stop trading on my account and ask Mr. Mahmoud several time by emails and phone that I request a $2.500 withdrawal from my account ,… and that’s it… no response.
By that time I read traders reviews about UFX Markets on ForexPeaceArmy forums and I immediately contact UFX Markets through their contact us form and described my situation that I can’t withdraw my money and about the review I so on this site.
On the next day Mr. Aiman he call me from UFX Markets and told me that he is now my new account manager and we cannot accept that our customers unable to withdraw money from their accounts also he tell me that Mr. Mahmoud have too much absents and he is now (Mr. Aiman) is my new account manager and he process the withdrawal already.
And after one week I received my first withdrawal for $2500.
After that on July 31, 2012 I start trading again this time I refused to accept any trade recommendation from them including a 70.000 oz. silver contract, and Mr. Aiman only contact me to give a trade recommendation or to deposit more money, but I learned the lesson and I hope everybody to take care of that if they are still dealing with them.
and my balance again reached $9.500 on august 14, 2012.
In Augost 13, 2012 I requested a withdrawal from my 2nd account manager Mr. Aiman and also as usual no response for several time trying to contact him by email and telephone calls, no response, when I call them they told me that they will tell him to contact me. But he did not call me back.
So I post my first review here in forexPeaceArmy scam alert on August 15, 2012
https://www.forexpeacearmy.com/fore...5-ufx-markets-not-possible-withdraw-fund.html
My post start from #10
and I sent the link to my account manager, next day Mr. Aiman he call me and tell me that he was absence and my withdrawal should be processed.
From that time up to today I did not receive any feedback from them even I tried to contact Mr. Aiman several times by email and phone also, the last time I tried to contact with them today by live chat and also I received the same answer.
Final Note:
My withdrawal status is “Approved –Money will be sent” sense August 19, 2012, and the withdrawal request they start processing it on August 16, 2012 the status was “Waiting KYC approval”
I hope everybody be careful to deal with brokers like this, if I still will have no response from them I will open a scam case and now sure I will request to take all my account balance.
My Name is Mohammed Shaheen and I will try to explain my problem with UFX Markets so I hope that everybody be careful and learn how they trying to make their customer lose their money.
How I started with UFX Markets?
First I opened a demo account with UFX Markets and some other brokers without real search about if those brokers are regulated or my money will be safe with them, this is my big mistake I just think it will be only a demo and I will do that later. Just to test their platforms and trade execution.
I started receiving calls from them but I have to say UFX Markets sales people are the best to let you buy anything they want.
My Lucky Days:-
I start with them on June, 25, 2012, I open a standard account with S 1,000 I was thinking it is just a small capital just to test in a real trading conditions,
Then in the second day my first account manager Mahmoud Naser he call me and ask me if I can increase my capital so I can make a lot more gains,
My answer in the beginning was no, I just started and still trying the company.
Later in the same day he call me again and he gave me a trade recommendation to open a standard lot 100.000 AUDUSD contract on my 1000 account balance, and the deal closed with profit of $100.
Immediately after the deal was closed he call me and tell me you see how much profit you can make but you have only $1000 and if you increase your capital, your profit will be better than your career job.
I agree and next day I deposit another $4000, now my capital is $5100 and I am eager to make profits.
Mr. Mahmoud keeps calling me and gives me trade recommendations with high contract size like 300oz of gold and 500.000 for currencies and when my account went deep in open position loss he call me again and ask me to deposit more money to protect my capital and he gave a recommended amount that near my credit card remaining balance I think the finance their can check what balance remaining on their customers credit cards.
Anyway I think I was too lucky those days that my account reached $9,700 on July, 16,2012. The final deal then was a 50.000 oz of silver that supposed to close my account on no time, but the luck is luck, and I was still lucky.
Start of the Problems
The reason for that big contract on silver Mr. Mahmoud my first account manager recommended to me because 1- he know for sure that I will not deposit more money and 2- because I ask him for a withdrawal from my account.
After that deal I stop trading on my account and ask Mr. Mahmoud several time by emails and phone that I request a $2.500 withdrawal from my account ,… and that’s it… no response.
By that time I read traders reviews about UFX Markets on ForexPeaceArmy forums and I immediately contact UFX Markets through their contact us form and described my situation that I can’t withdraw my money and about the review I so on this site.
On the next day Mr. Aiman he call me from UFX Markets and told me that he is now my new account manager and we cannot accept that our customers unable to withdraw money from their accounts also he tell me that Mr. Mahmoud have too much absents and he is now (Mr. Aiman) is my new account manager and he process the withdrawal already.
And after one week I received my first withdrawal for $2500.
After that on July 31, 2012 I start trading again this time I refused to accept any trade recommendation from them including a 70.000 oz. silver contract, and Mr. Aiman only contact me to give a trade recommendation or to deposit more money, but I learned the lesson and I hope everybody to take care of that if they are still dealing with them.
and my balance again reached $9.500 on august 14, 2012.
In Augost 13, 2012 I requested a withdrawal from my 2nd account manager Mr. Aiman and also as usual no response for several time trying to contact him by email and telephone calls, no response, when I call them they told me that they will tell him to contact me. But he did not call me back.
So I post my first review here in forexPeaceArmy scam alert on August 15, 2012
https://www.forexpeacearmy.com/fore...5-ufx-markets-not-possible-withdraw-fund.html
My post start from #10
and I sent the link to my account manager, next day Mr. Aiman he call me and tell me that he was absence and my withdrawal should be processed.
From that time up to today I did not receive any feedback from them even I tried to contact Mr. Aiman several times by email and phone also, the last time I tried to contact with them today by live chat and also I received the same answer.
Final Note:
My withdrawal status is “Approved –Money will be sent” sense August 19, 2012, and the withdrawal request they start processing it on August 16, 2012 the status was “Waiting KYC approval”
I hope everybody be careful to deal with brokers like this, if I still will have no response from them I will open a scam case and now sure I will request to take all my account balance.
Last edited: