RESOLVED www.svsfx.com removed all my profits!

[KentC]

Last year in Oct, I made deposit USD13000 to svsfx. Then I traded and made account balance become USD83925. Later I sent a withdraw request of USD 55000.

Then the next day (i.e. Nov 18th, 2014), SVSFX informed me of closing my account and would refund me 12990.37 only, because I didn't send the appropriate documents for account opening but they activated my account wrongly.

Here's what they said in the email:

"Following a review of our account opening processes in line with our AML (Anti Money Laundering) Policy
and Procedures, it is with regret that I have to inform you that we have had to close your account and return
your investment to the account we received your funds from.

Please accept my apologies for the oversight at SVS that allowed the account to be incorrectly activated
however we have now closed your account and returned $12,990.37 to your nominated account"

 

[Master Yoda]

I wonder why it took you so long to tell your story here?

Anyways, contact the broker and ask him to join this thread.

this broker is regulated by the UK Financial Conduct Authority (FCA) (Reg.220929) and is a member of the London Stock Exchange. Why won't you drop a complaint through the regulator? How to complain - Financial Conduct Authority I hope it's not too long.

 

[FxMaster]

Three steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Go to their website and invite them to here via Live Chat.

support@svsfx.com

Customer Support

+44 (0)20 3700 0077

3rd- Go to their Social media pages and share your STORY and Link of this Thread as a comment on latest post.

Social pages are

https://www.facebook.com/svsfxindia

https://twitter.com/SVSFx

https://www.youtube.com/user/SVSFX



Also share your review at FPA Review page here svsfx Review - Forex Peace Army


If you deposited Money via credit card then talk with CC department as as possible.



PS: We want your votes at open cases, check this section FPA Open Cases and votes for Guilty or Not Guilty.

 

[Pharaoh]

If I were you, I'd do the following:

Withdraw your initial deposit as quickly as possible.
Invite them to join this thread.
File complaints with the UK FCA and UK FOS.

 

[KentC]

If I were you, I'd do the following:

Withdraw your initial deposit as quickly as possible.
Invite them to join this thread.
File complaints with the UK FCA and UK FOS.

I've done all your suggested. But the problem is SVS ignores me; FCA and FOS handle complaints very very slow....

 

[veri5]

something doesn't stick, how it was possible to open account there without documents? as I know SVSFX as all UK brokers are very strict about that ... but in case it happened it would be interesting to see the statement...
also, if they opened account, accepted deposit, provided trading services, then canceled profits - it all seems to me as their own fault and they can be fined big by regulator, not complaining with AML is their fault, and as I know that's most often used reason to fine brokers and banks

 

[AsstModerator]

I am pleased to report this issue has been resolved. KentC has confirmed receiving all money owed to him.