Spread International (SICFX) in UAE, Owned by Prince of Saudi Arabia
- Thread starter ozberk
- Start date
Hi Pharaoh,
They eventually sent my balance after I told their partner about this issue. But they are still quite about my losses. Royal Highness Prince Abdullah Bin Bander Bin Abdelaziz Al-Saud of Saudi Arabia who is the owner of Spread International (SICFX) forex broker has not replied my email. I received some quotes from lawyers in UAE and not only they are very expensive but also winning a court case against Royal Highness Prince Abdullah Bin Bander Bin Abdelaziz Al-Saud of Saudi Arabia would sound impossible. Basically SICFX has a system that they use Royal Highness Prince Abdullah Bin Bander Bin Abdelaziz Al-Saud of Saudi Arabia's name to have new clients and then they breach the agreement conditions so the clients loose money and eventually is left alone without any regulator. Since its expensive to take them in court, opening an account with them means you will loose money with them anyways.
They eventually sent my balance after I told their partner about this issue. But they are still quite about my losses. Royal Highness Prince Abdullah Bin Bander Bin Abdelaziz Al-Saud of Saudi Arabia who is the owner of Spread International (SICFX) forex broker has not replied my email. I received some quotes from lawyers in UAE and not only they are very expensive but also winning a court case against Royal Highness Prince Abdullah Bin Bander Bin Abdelaziz Al-Saud of Saudi Arabia would sound impossible. Basically SICFX has a system that they use Royal Highness Prince Abdullah Bin Bander Bin Abdelaziz Al-Saud of Saudi Arabia's name to have new clients and then they breach the agreement conditions so the clients loose money and eventually is left alone without any regulator. Since its expensive to take them in court, opening an account with them means you will loose money with them anyways.
SIC FX aka. Spread International is a RIP OFF organisation, rotten to the core.
I know the details of the organisation very well. The company is run by Ahmed Al Assad. He is a Saudi National operating out of Dubai from offices in Jumeirah Lake Towers. His registration at DMCC for SICFX is shady at best.
Previously he was running SICFX out of Dubai with a general "Consultancy" trade licence which gave him no legal authority to trade peoples money whatsoever. He set up operating with another scammer called Craig Karliss who is based in the US, a drug addict and also a renowned Forex scammer (google him & his court cases) Countless people have lost their money with him and its now the time that something should and will be done.
Taking them to court is not the only option. As they are registered with DMCC there are other ways of punishing them and getting compensation.
I know the details of the organisation very well. The company is run by Ahmed Al Assad. He is a Saudi National operating out of Dubai from offices in Jumeirah Lake Towers. His registration at DMCC for SICFX is shady at best.
Previously he was running SICFX out of Dubai with a general "Consultancy" trade licence which gave him no legal authority to trade peoples money whatsoever. He set up operating with another scammer called Craig Karliss who is based in the US, a drug addict and also a renowned Forex scammer (google him & his court cases) Countless people have lost their money with him and its now the time that something should and will be done.
Taking them to court is not the only option. As they are registered with DMCC there are other ways of punishing them and getting compensation.
Dubai Gold & Commodities Exchange
This is the place where all the documents related to the company should be held. SICFX will have registered themselves under any one of several aliases.
I will try to get more info, but you can also look under names including:
SICFX
Spread International
ABA Markets
The office of HRH Prince Abdullah Bin Bander Bin Abdelaziz Al-Saud
Pharaoh
Brigadier General
- Messages
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Here's the claim on of Princely ownership ABAInvest.com's website:
ABA Investment
One more thing to be sent off to your local Saudi Embassy.
ABA Investment
One more thing to be sent off to your local Saudi Embassy.
Pharaoh
Brigadier General
- Messages
- 20,308
Wait a second!
Does this alleged prince go by any other name? I googled "Prince Abdullah Bin Bander" and got a lot of hits. I then filtered out everything that included "SICFx" and all of the few remaining hits had "Spread International" on the page.
I am getting very suspicious that there is no such prince.
Does this alleged prince go by any other name? I googled "Prince Abdullah Bin Bander" and got a lot of hits. I then filtered out everything that included "SICFx" and all of the few remaining hits had "Spread International" on the page.
I am getting very suspicious that there is no such prince.
Thank you very much for the information Yoplu. I appreciate it very much. I contacted DMCC about my complaints. The people I contacted were: DMCC Compliance department 
erlito.Sevillejo@dmcc.ae , Yousuf.AlKhuroosi@dmcc.ae , Hassan.Nasser@dmcc.ae. But I am afraid I have been ignored by them. They havent replied to my complaint, neither they confirmed that they were on this case. So I dont know what I can do to either punish them or get a compansation. Do you suggest any other way to be effective on my complaint? I even tried their website but could not find any information how to file a complaint.
Any suggestions would be very much appreciated.
erlito.Sevillejo@dmcc.ae , Yousuf.AlKhuroosi@dmcc.ae , Hassan.Nasser@dmcc.ae. But I am afraid I have been ignored by them. They havent replied to my complaint, neither they confirmed that they were on this case. So I dont know what I can do to either punish them or get a compansation. Do you suggest any other way to be effective on my complaint? I even tried their website but could not find any information how to file a complaint.Any suggestions would be very much appreciated.
SICFX has NO license and is NOT regulated SCAM SCAM SCAM
Hi I received an email from DMCC confirming that they are not regulating SICFX. Here is the email:
Dear Cem,
We have no relationship with a company called SICFX. It is not regulated or licensed by us.
Please feel free to take the case to the court.
Regards,
Hassan Nasser
Director - Compliance & Inspection
Almas Tower
Jumeirah Lakes Towers
P.O. Box 48800, Dubai, UAE
T +971 4 390 3883
D +971 4 364 4271
F +971 4 375 6260
M +971 56 603 8753
E hassan.nasser@dmcc.ae
DMCC
Save a tree… Do not print this email unless it is absolutely necessary.
Thank you very much for the information Yoplu. I appreciate it very much. I contacted DMCC about my complaints. The people I contacted were: DMCC Compliance department
Any suggestions would be very much appreciated.
Hi I received an email from DMCC confirming that they are not regulating SICFX. Here is the email:
Dear Cem,
We have no relationship with a company called SICFX. It is not regulated or licensed by us.
Please feel free to take the case to the court.
Regards,
Hassan Nasser
Director - Compliance & Inspection
Almas Tower
Jumeirah Lakes Towers
P.O. Box 48800, Dubai, UAE
T +971 4 390 3883
D +971 4 364 4271
F +971 4 375 6260
M +971 56 603 8753
E hassan.nasser@dmcc.ae
DMCC
Save a tree… Do not print this email unless it is absolutely necessary.
Here is another email from DGCX:
Dear Sir,
In specific answer to your questions
• I can confirm that SICFX has no relationship with DGCX.
• I cannot confirm (i.e. I do not know) if SICFX is owned by HRH Prince Abdullah Bin Bander Bin Abdelaziz Al-Saud.
• To the best of my knowledge, I do not believe that SICFX has been granted license from the UAE authorities to act as a forex broker.
Kind regards
Tony Day
Chief Compliance Officer
Tel: +971 4 3611616
Fax: +971 4 3611699
Direct: +971 4 3611655
E-mail: tony.day@dgcx.ae
Dear Sir,
In specific answer to your questions
• I can confirm that SICFX has no relationship with DGCX.
• I cannot confirm (i.e. I do not know) if SICFX is owned by HRH Prince Abdullah Bin Bander Bin Abdelaziz Al-Saud.
• To the best of my knowledge, I do not believe that SICFX has been granted license from the UAE authorities to act as a forex broker.
Kind regards
Tony Day
Chief Compliance Officer
Tel: +971 4 3611616
Fax: +971 4 3611699
Direct: +971 4 3611655
E-mail: tony.day@dgcx.ae
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