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Resolved: UFX scam any help appreciated?

Discussion in 'Resolved Issues' started by RHP27, Jun 27, 2018.

  1. RHP27

    RHP27 Private

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    Hi,


    I want to share my story about UFX and how they have ruined my life and want to avoid anyone else going through the same mistake. My trusts has gone with everyone and I can’t believe I was so naive to go with it.

    It all started in 13th April 2018, earlier this year, I lost someone dear to me and had to spend a lot of money for funeral expenses etc and just come back to work after emotional stress and wanted to make some additional income.

    I saw this ad on Facebook with reviews saying easy way to make money at low risk and great rewards every 2 weeks. I signed up just to see what it was all about but then did nothing further. About a couple of days later started getting so many calls from a number and I decided to answer it.

    It was of course someone from UFX. The way they talk and engage with you is to the point where anyone can get gauged into it and see what an opportunity this is and makes you interested. After long conversations where I was told not to worry about losing money as UFX won’t let that happen, why would UFX want to lose a client by making them bust, things will be done at low risk, you will see great rewards every 2 weeks, why have saving sitting there when you can make 30-40%+ each week, it was to good not to believe.

    They made me deposit an initial sum of $500 USD and then I started having calls for training and then I was assigned a UFX trading specialist.

    The specialist then started calling me up each day advising on how the platform works and what to look at for, Bollinger bands etc. Then my first trades under UFX specialist advise happened. UFX advised to trade on oil and gold so we did and saw some profits being made. Just so you trust them they allowed me to take an initial withdrawal of $25 to show that you can withdraw money whenever you like and UFX advising it’s your money and you can do what you want.

    Eventually the $500 went down and instantly I get a call from UFX saying to save your account you need to deposit more.

    I initially put in another 10000USD and I advised that is all I have, but then UFX showed me some charts and told me look at the price of oil it is going to go up to $80 per barrel, can you not see it going up, don’t miss the opportunity now what can I do? After several pressurised calls they managed to talk me into depositing more, as my mind was all over the place somehow, I managed to deposit another 5 more amounts in a space of a week a month later to get my account at level to make the profits but they advised I need some more to take advantage.

    Once I put in more money that is when things started again. It all started well at first getting me to place 3 or 4 trades at the same time on oil and having the profits adjusted for each trade, so 100, 200, 300, 400 profits and if these come through that’s a total of $1000. Obviously, these were trades UFX knew would come off, another tactic to get me trading more with their advice and put more money in.

    Then on May 9th 2018 I made one more deposit but that was after all the pressure, stories and promises made UFX made saying I will not lose my money as we will be trading at low risk. Then on the 11th May that’s when the killer trade came to put my account in question. UFX called me up in the afternoon as I had been busy at work and had no time and getting emails like are you alive anyhow I was told that the market is going down for the oil and is a good point to buy oil as its going to go up and made me make a large trade of 200000 barrels which I questioned and was uncomfortable doing as was normally trading at 20000 to 400000 but the UFX representative said don’t worry you have enough equity and my account is under control then 5 minutes later the UFX specialists calls me and advises, looks like the market is falling further and to make your account safe we need to put it into an hedge. I didn’t even know what that even meant and I asked him and he said he will explain on the weekend. All weekend I was stressed, depressed and could not do anything as they got me hanging by a shoe string.

    Then on either Sunday or Monday I got a call from UFX specialist advising what a hedge was and this is probably the only time you can make MILLIONS and it’s a good position to be in just need to find the right entry and exit points blar blar blar, then the big question came, so how much? I was bit confused, then he said to get out of the hedge safely and at the lowest risk you need more collateral.

    Head messed up again and not thinking straight and the thought of losing so much money. I had further few calls before I took the decision that I must do what he says otherwise I will lose my money. During those calls was a lot of arguing, questions and fear for me but got promises that it will all be OK, you will walk out of it laughing and smiling, I will make sure of it, you won’t lose you money etc thinking now not even any compassion just confidence from them and that they have had many clients that they have got out of a hedge.

    I didn’t have the money so applied for some loans and managed to raise $80000 dollars even though they advised I should have at least $250000-$300000 my heart just stopped told them I don’t if I was a millionaire would I be here.

    Anyhow they agreed to the amount I had and made me deposit the money via wire transfer this time, which I stupidly done.

    Then it all starts again UFX calls me up the next day and advise we need to build on the collateral and equity in your account to get out of the hedge. I said the only reason I got the money is to wait for that exit and entry points as you advised and you agreed on. As I had no say and was still a novice took his advice and started a few trades on his advice otherwise I would hear in his tone he was not happy I was not trading.

    Not even 2 weeks they got me back into the same situation but this time with hardly anything in my account. I emailed them each time I saw the equity alerts come into my email and no response and then eventually I would get a call saying the account is fine you still have enough in equity and the price will go up and down just hold tight, I did say I rather take the loss earlier when I saw $10000 minus as we already made $20000 profit in the account but UFX would not let me make any decision it was all under what they say you can do or not, I looked a couple of hours later and it was lowering I called a few times no responses, I emailed no responses I didn’t know what to do as I was always told to always speak to UFX before doing anything and then I got a call advising I need to close my trades to save my account so I did and was told he will call me on the Sunday.

    Since that call I was sick in the stomach, could not eat, stressed, depressed and had to wait for UFX to call me on Sunday eventually they did and that’s when I got the question again I need to deposit more money as I still have the hedge going and I can still make my millions and money back. They asked for $200000+ dollars to be raised which I am not doing and have got a legal company involved now to help me retrieve my money.

    That’s my story but here are the other points:

    • UFX would only call me and never reply to my emails.

    • I have only got emails from the specialist advising to call him and I have about 40+ email of that.

    • Emails from the specialist on the weekend with charts and subject line ‘See the opportunities’ and then a few lines speak to tomorrow to plan.

    • Promises were all made over the phone.

    • Andrea Iniesta apparently and partner of something in UFX.

    • All deposits via Visa over the phone apart from the last payment via international payment.
    My story sounds similar to other people on here and was wondering how people got on with getting their money back and any help would be appreciated.

    I feel so angry with myself and not sure what came across me, I am normally strong enough to say no.

    Thank you

    RP
     
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  2. FxMaster

    FxMaster Lt. Colonel

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    Ufxmarkets already marked as a scam Broker base on Trader`s vote and scamming cases. You can read more here http://www.forexpeacearmy.com/forex-reviews/5004/www.ufx.com

    Now, come to the solution of your problem, If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback OR Contact Rebecca here WinChargeback, she will help you to get back your money.
    You can also share your story on their social media pages to draw their attention to your issue.
    Below are the Social pages
    https://plus.google.com/116140193256096358349/posts
    https://twitter.com/UFX
    https://www.facebook.com/UFXen
    https://www.youtube.com/user/UFXcom
     
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  3. FxMaster

    FxMaster Lt. Colonel

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  4. RHP27

    RHP27 Private

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    Thank you.

    I have already contacted my card company and they are advising that they think Visa won’t accept the complaint.

    The problem is the wire transfer can that also be claimed back?

    Thank you
    Ritesh
     
  5. FxMaster

    FxMaster Lt. Colonel

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    I am afraid NO. But try to contact bank.
     
  6. RHP27

    RHP27 Private

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    Thanks.

    I have got some legal advise for chargeback already.

    I will keep this thread updated so that other people who are in the same situation can be helped.
     
  7. FxMaster

    FxMaster Lt. Colonel

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    You are most welcome :)
     
  8. Selvam

    Selvam Recruit

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    No worries.First, make a fraud report to the fraud unit of your police department.Then contact your bank where you did a wire transfer and file a chargeback request Do give a copy of the police report and police investigation results to the bank.The bank will then classify the case as a fraud or scam and bank's fraud unit will investigate and may help you to recover your lost funds.
     
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  9. RHP27

    RHP27 Private

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    Thank you Selvan.

    I have not done anything yet and UFX are still calling me 2 to 3 times a day as they are expecting me to deposit more.

    I just want to know all my options and go from there.

    Thank you
    Ritesh
     
  10. FxMaster

    FxMaster Lt. Colonel

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    Ask them to get a resolution of your problem first and then you may think to deposit.
     

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