The Collective FX GLOBAL-trading name of BDG Financial Services Ltd.

[fierro]

I am having problems withdrawing funds from my Collective FX Global account. My initial request was submitted on February 24, 2014 at which time I received an automated response that my request was received. After not receiving funds I emailed again on April 1 and then on April 3. On April 3, I received the following email:


DearTraci,
Please accept our sincere apologies. We had your withdrawal showing as completed in our system, however, upon investigation we have found this is not the case. We have recently lost a member of our team and this may have led to the confusion.
Your withdrawal will be processed as a priority.
Regards,
TheCollectiveFXGLOBAL
www.thecollectivefxglobal.com

It is standard procedure to wait 10-15 business days for withdrawal requests, but when I still had not received funds by April 24 I emailed them asking about the delay but received no response. On April 29 I emailed again and still no response.

I called the contact numbers only to find that the numbers were no longer working.

I recently noticed that they are no longer accepting clients from the U.S. as stated on their website regarding new applications from US citizens:

“We are completing compliance review at this time.
To be notified as soon as it is ready, please get on the notification list below.”

Being a client from the U.S. since September of 2009 I was alarmed to read this on their website since I have not received any notice from them of the necessity for “completing compliance review” to accept new applications from U.S. citizens or how that might be affecting my membership as a U.S. citizen.

In the 4+ years of working with them I have always received immediate assistance with all requests – whether with the trading platform or account services. This recent behavior is not their standard procedure, but as a result of not receiving my withdrawal in addition to the lack of communication I am asking for your assistance in getting my funds back and closing my account.

 

[Pharaoh]

Send an invitation to every address you can find for the broker. Invite them to come to this thread and explain how long until you can expect your money.

 

[damastet]

Collective FX SCAM ALERT (same here)

I am having problems withdrawing funds from my Collective FX Global account. My initial request was submitted on February 24, 2014 at which time I received an automated response that my request was received. After not receiving funds I emailed again on April 1 and then on April 3. On April 3, I received the following email:


DearTraci,
Please accept our sincere apologies. We had your withdrawal showing as completed in our system, however, upon investigation we have found this is not the case. We have recently lost a member of our team and this may have led to the confusion.
Your withdrawal will be processed as a priority.
Regards,
TheCollectiveFXGLOBAL
www.thecollectivefxglobal.com

It is standard procedure to wait 10-15 business days for withdrawal requests, but when I still had not received funds by April 24 I emailed them asking about the delay but received no response. On April 29 I emailed again and still no response.

I called the contact numbers only to find that the numbers were no longer working.

I recently noticed that they are no longer accepting clients from the U.S. as stated on their website regarding new applications from US citizens:

“We are completing compliance review at this time.
To be notified as soon as it is ready, please get on the notification list below.”

Being a client from the U.S. since September of 2009 I was alarmed to read this on their website since I have not received any notice from them of the necessity for “completing compliance review” to accept new applications from U.S. citizens or how that might be affecting my membership as a U.S. citizen.

In the 4+ years of working with them I have always received immediate assistance with all requests – whether with the trading platform or account services. This recent behavior is not their standard procedure, but as a result of not receiving my withdrawal in addition to the lack of communication I am asking for your assistance in getting my funds back and closing my account.

Same problem here, I have more than 50K USD to recover from them. Sending emails to every mail address they have for the last month with no answers whatsoever. I even mail the support, all the emails from Gary Gensen, accounts email, etc.. Lately I emailed the IFSCB which is the Belize regulator (yes I am getting desperate).

This is the email I sent to the regulator:

Pedro Roque <damastet@gmail.com>
13/05 (há 6 dias)

para legalconsl



Dear Sir or Madam,

Two years ago, as a FOREX trader I became client to this company, (account number XXXXXXXXXX in my name Pedro Emanuel da Silva Gama Roque), everything went fine and normal until last April when I stated on an email that I was not interested in trading through their platform anymore and wanted to withdraw my funds (XX XXX.XX USD) and close my account. On the same day I received an automated response from their mail bot stating that it would take 15 business days to have the funds transferred.

We are now on the 13th of May and I have no funds or any replies to other mails I have sent them inquiring about the transfer. Moreover I can see the "money" (virtually) still attached to my Metatrader account (trading software) which I can still access through my computer, however they did not reply to anything I asked (especially why the money was still in my trading account), its a complete radio silence. So, naturally I feel very scared about this. Their front office looks normal but their backoffice is just absent. On top of this I noticed that their company name BDG Financial Services LTD was removed from your regulator's list which increased my doubts and suspicions about what is going on. But still no warnings or notices about them.

At this moment I need your help in order to know what can I do in such a situation where these people are deliberately holding my funds against my will.

They claim to have a Certificate of Incorporation 97055 and Belize International Financial Services Commission Licence No. IFSC/60/173/FX/11

Please be so kind to help me on this.

Yours sincerely,

Pedro Emanuel da S. G. Roque

 

[Pharaoh]

This is worrisome. The Collective FX had a pretty good reputation up until now.

 

[FxMaster]

Same problem here, I have more than 50K USD to recover from them. Sending emails to every mail address they have for the last month with no answers whatsoever. I even mail the support, all the emails from Gary Gensen, accounts email, etc.. Lately I emailed the IFSCB which is the Belize regulator (yes I am getting desperate).

This is the email I sent to the regulator:

Pedro Roque <damastet@gmail.com>
13/05 (há 6 dias)

para legalconsl



Dear Sir or Madam,

Two years ago, as a FOREX trader I became client to this company, (account number XXXXXXXXXX in my name Pedro Emanuel da Silva Gama Roque), everything went fine and normal until last April when I stated on an email that I was not interested in trading through their platform anymore and wanted to withdraw my funds (XX XXX.XX USD) and close my account. On the same day I received an automated response from their mail bot stating that it would take 15 business days to have the funds transferred.

We are now on the 13th of May and I have no funds or any replies to other mails I have sent them inquiring about the transfer. Moreover I can see the "money" (virtually) still attached to my Metatrader account (trading software) which I can still access through my computer, however they did not reply to anything I asked (especially why the money was still in my trading account), its a complete radio silence. So, naturally I feel very scared about this. Their front office looks normal but their backoffice is just absent. On top of this I noticed that their company name BDG Financial Services LTD was removed from your regulator's list which increased my doubts and suspicions about what is going on. But still no warnings or notices about them.

At this moment I need your help in order to know what can I do in such a situation where these people are deliberately holding my funds against my will.

They claim to have a Certificate of Incorporation 97055 and Belize International Financial Services Commission Licence No. IFSC/60/173/FX/11

Please be so kind to help me on this.

Yours sincerely,

Pedro Emanuel da S. G. Roque

Did anyone of you sent them invitation about this thread ?

 

[fierro]

Yes, I have sent an invitation to this thread via email to all Collective FX contacts and through a support ticket with no response. I also sent an email to the IFSCB which is the Belize regulator but have received no response from them as well.

 

[Pharaoh]

Make sure to send followups on both after a few days. Sometimes it takes effort to get the attention of someone who will respond.

 

[fierro]

I have sent follow-up support requests and an invitation to this thread. Is there anything else I can do?

 

[Pharaoh]

Gather up screenshots of everything. I hope this is some sort of temporary issue, but if it isn't, then you'll be wanting all of that to send off to police and regulatory agencies.

 

[Dewey McG]

This is very troubling since I have a fair sized account with them as well. Until now I have had no problems with them. IO was able to make a small withdrawal in march but submitted another withdrawal request 2 weeks agao and have not heard back since the initial confirmation.

Has anyone heard back from them yet or the IFSCB?