1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

RGCX Forex brokerage company based in PANAMA SCAM or Not SCAM ?

Discussion in 'Scam Alerts' started by mahadzira_al_baqi, Aug 15, 2012.

  1. mahadzira_al_baqi

    Joined:
    Aug 15, 2012
    Messages:
    13
    Likes Received:
    0
    I have doubt in RGCX operation since all the uppermost important rules and regulation including policys and such related must have document is not ready yet but they start recruiting investor from all over the world mostly in southeast asia mainland Indonesia and Malaysia Singapore and Brunei.

    I have created an account there to test the water and recently i try to unsubscribe but they put you on hold for months and keep silenced all the way without any support team informing you wether there is progress on my application to unsubscribe. Just an auto reply on the other part of with online chat they just stated that they are BUSY registering new investor and trader hundreds of em's daily and they cannot do anything that is what exactly they said to me with online chat. Brokerage company with multi millions in the making with no extra staff to handle support???

    They will review and the trading cabinet unsubscribe button is not functional plus many other flaws that i detacted.

    This is not a condemnation or any ill reported abusive intention but just a sincere question at least to admin or any other member who have any experience involving issues like this perhaps.

    Thank you
    mahadzira al baqi

    :mad:
     
  2. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,685
    Likes Received:
    2,234
  3. mahadzira_al_baqi

    Joined:
    Aug 15, 2012
    Messages:
    13
    Likes Received:
    0
    Tq for the reply
    Yes i put some money with them for about 2 months ago.
    I will review FPA listing tq for the info.
    But as for now there has been weeks with no answer from the just review and reviews.

    First i have to wait for 45days for the share to mature then they said another 3 month for refund to my bank.
    What i am confused is when do the date of refund times start counting either tomorrow or next week or next month?
    From that action alone i am at lost as they were holding my money with no time of refund assurance.

    Seems like a purposedly delay or what?
    Other broker will give you a fix date of refund at no time but they RGCX kept giving me excuse of lacking staff.

    As I said millions in the making you say they lack of staff for one account review to unsubscribe?

    It has been weeks no answer so no one cannot blame me of suspecting something not right?.

    TQ master sargeant.
     
  4. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,685
    Likes Received:
    2,234
    No legitimate retail forex broker says to wait for positions to "mature". No legitimate broker of any sort takes 3 months to move money to a client's bank.

    How did you deposit money? If by credit card or bank wire, contact your bank and ask how to file internet-based financial fraud charges from your country. You should also contact the Panamanian police and ask for advice.

    Don't forget to leave a review to help warn others about them.
     
  5. BigT1

    BigT1 Sergeant Major

    Joined:
    Jan 21, 2009
    Messages:
    951
    Likes Received:
    22
    Review the Bank regulatory environment for Panana here:
    Superintendencia de Bancos Panamá
    .
    The page is in Spanish, so you may have to use Google or Bing Translate to assist you.
    I have not investigated the Panama Regulatory environment, but I know it is young and weak.
    Contact this organization for guidance if needed; they should point you in the right direction.
    .
    FPA members should reference this link when they don't know where to turn in a foreign country, and are unsure about the proper regulator.
    The Banking authorities are always legit and will get you to the right regulator for your situation. Suggest you bookmark it:
    http://www.bis.org/regauth.htm#letter_P
    .
    This firm seems to have a Corporate License to do business. Find it here:
    http://www.rapidgcx.com/profiles/legal-licenses.html
    .
    However, on this page the firm clearly states it is in the process of applying for registration; meaning it is currently, Unregulated.
    This could actually be to your benefit, because that application will be adversely impacted by customer complaints filed with the Regulatory Authority.
    I strongly suggest you inform the broker's senior management of you intention to bring this matter before the responsible regulator, if you are unable to come to an agreement with them.
    http://www.rapidgcx.com/profiles/security-reliability.html
    .
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
     
    #5 BigT1, Aug 21, 2012
    Last edited: Aug 22, 2012
  6. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,685
    Likes Received:
    2,234
    You can also invite them to join this discussion thread to publicly explain what is going on.
     
  7. optimus

    optimus Recruit

    Joined:
    Aug 22, 2012
    Messages:
    2
    Likes Received:
    0
    RGCX is a con company.Please report to BNM asap.They have collectd a lot from investor like you.Please let others be known.The mastermind goes around in lavish car n spending investor money on his girlfriend.The company doest not have an office here.They go around soliciting investment and meeting in coffeeshop kopitiam n hotels.Last i heard he uses his girlfriend office to conduct his recruitment..Check in panama the director is a proxy for hundreds of pyramid scheme company.They dont have a forex license.Their traffic is mainly from asia. They collect money from investor tru their agent.Since operating early thus year the mastermind n his croony have been lavishg themselve.They promise ten percent of investment brought in by any recruiter.Please warn others before it's too late.BNM have blacklisted rgcx n awaiting investor to rport before any action coyld be taken.Most of thier investor are not well verse so might not be able to do anythg.Please do make your report n help others so that they don't get cheated
     
  8. BigT1

    BigT1 Sergeant Major

    Joined:
    Jan 21, 2009
    Messages:
    951
    Likes Received:
    22
    Optimus,

    You are new to FPA, having just joined today, and have only this one post in your history.
    Naturally, we are all interested in your remarks; but need some specific information on who you are and who you are accusing.
    Please provide specific facts about your experience, how you had contact with them, the names of the people involved to help us help you and others.
    Who is BNM? Name the "Mastermind", the girlfriend, the "Director" you accuse. Why have you not taken action yourself if you have been injured by them?
    Thank you for your post.
    .
    Anthony Ingrassia, CTA
     
  9. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,685
    Likes Received:
    2,234
  10. optimus

    optimus Recruit

    Joined:
    Aug 22, 2012
    Messages:
    2
    Likes Received:
    0
    Sorry guys here are a bit more of the detail. BNM is bank negara of malaysia.RGCX is set up by one malaysian guy.Attended one of their seminar.They promise return of 10percent if you could bring in any investor.Their marketing plan is of a pyramid scheme.Rgcx claim to be a panama based company.If check carefully the owners is actually proxy for more than hundred pyramid scheme company in panama.Their traffic internet is mostly from malaysia ,indonesia n spore.Upon checking i found out that the company does not even have an office in malaysia.Most of the meeting is done outside.Sad to say most of the investor are ordinary people who doesn't even understand the term forex.Since rgcx in operation the chap who invented this scam has change his lifestyle.U can check their facebook rgcx.I wish the authorities in malaysia could act fast before they fleece genuine investor money.The problem in malaysia is people has to report before the authorities could act upon it.That is why i encourage those people that have invested to report asap.If the company is genuine than their investement is secured.If not than they can recoup their investment back.Rgcx is a company which base their marketing plan just like another mlm company based in indonesia name speedline.The company ran away with millions of investor money and the mastermind is living lavishly n is also a malaysian chap.Rgcx is blacklisted by bank negara of malaysia.They do not have a license to operate or collect deposit in malaysia.
     

Share This Page