There is no way to Apologize for Forex-Age's Scam

There is no way to Apologize for
Forex-Age's Scam

In April of 2012, Nasser2020 filed an FPA Traders Court case against Forex-Age. They were refusing to let him withdraw about $4000 that was in his account. His initial attempt to withdraw money in the middle of February was first delayed by his account representative because the company would only process withdrawals at the end of the month. He tried again at the end of February and his money still didn't come.

By May, the new excuse from Dema Habeeb, Nasser2020's account manager at Forex Age, was that no withdrawal would be processed if Nasser didn't provide a written apology. Nasser filed an FPA Traders Court case.

Bill, the FPA's AsstModerator, emailed Dema Habeeb (who signed email replies as “Dima Habeeb”) and got the same story. Forex-Age wanted an apology for something Nasser2020 said in one or more emails. We believe that there is a possibility that the exchange of messages became heated after delays in withdrawals continued.

It is the opinion of the FPA that no matter how gentle or how rude Nasser2020 may have become while trying to get his withdrawal, that is no excuse to delay giving him access to his money. If a customer has an issue withdrawing money from a bank and has a rabid temper tantrum inside the bank, the bank can not legally use that as an excuse to hold the customer's money. We believe the same principle applies to forex brokerages. If a broker doesn't like a customer's behavior or attitude, the broker is free to terminate the relationship – by closing the account and sending the final balance to the client.

Bill warned Forex-Age that this policy was risking not just a Traders Court guilty verdict, but also an FPA Scam Finding.

In June 2012, Nasser2020 reported that he had sent an apology letter and still had not gotten his money. Bill emailed Forex Age and got no reply.

Under the circumstances, the FPA has no choice but to declare that Forex-Age.com is a scam.


We wish thank Bill, the FPA's AsstModerator, for his efforts on this case.


FPA Scam Finding against Forex-Age.com

Nasser2020's Original Complaint Against Forex-Age

FPA Traders Court Verdict Against Forex Age

FPA Review Page for Forex-Age.com
 

res123

Banned
Messages
33
To ask for apology for withdrawal proves Forex age scam in the first place . there was no need for Naseer to apologize ,that was just a tactic by scam broker to justify itself for some time .Such type of scams survive on number of new accounts opened with them ,they know client would not stay with them for long so they try to trap as many customers as they can .
 
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Joh

Sergeant Major
Messages
976
It is disheartening that such mongrel broker like Forex Age ruins it for so many clients and other brokers. Surely there must be honest/decent brokers out there that are willing to fight with FPA and all potential clients out there and put an end to these scam artists and put them out of business.
At this moment brokers reputations are on the line they look worse then politicians which are on the nose. I assume most brokers knew each other and if they get a whif of any inappropriate dealings they ought to able to nip this in the bud much sooner and support clients of these brokers - this would be one way to get satisfied customers, ah well this is my 2 cents here -thank you FPA and Habeeb for warning us.
 

aicohn

Corporal
Messages
107
Shouldn't matter whether this fellow apologizes or not. That money is his property and in a civilized society you return somebody's property to him/her immediately when he/she asks for it. Otherwise, it's theft, plain & simple.

Scam finding is appropriate, but should have come before any apology was given. When the demand for the apology was issued the scam finding should have been immediate and automatic.

Even if they now do return his property, scam finding should remain. They may be running a ponzi scheme to avoid the scam finding. That's how Bernie Madoff would have done it.
 

savannah22

Private, 1st Class
Messages
27
As far as I am concerned the one who should be apologizing profusely is Forex-Age! That has got to be the lamest excuse not to give a client HIS OWN MONEY. Despicable company.
 

Laurie Gold

Corporal
Messages
119
4 years ago, before I started trading I would have said "unbelievable" unfortunately I have come to realize that Forex Scams are more common then people getting colds.
 

mrgummo

Corporal
Messages
128
I think the FPA needs to have the home page be a list of brokers who were found guilty by the FPA...
 
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