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True8Fx is a SCAM BROKER !

Discussion in 'Scam Alerts' started by naibody, Oct 3, 2012.

  1. naibody

    naibody Private, 1st Class

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    My name is Bratucu Ion Razvan, from Brasov, Romania, UE. I am 48 years old.
    I opened a trading account in the company True8Fx. True 8 FX Investments
    I got a $ 20 bonus with no deposit. I traded and made a profit of $ 224.89.
    On 20 September 2012 I applied for withdrawal of money, for the amount of $ 224.89. I received no answer, so I sent another email on 28 September 2012; I received no response.
    On October 2nd I sent the third email, on the email address of the company, and on the MT4 email system, from my account. I received no response.
    Mention that broker resumed a campaign of no deposit bonuses for several days, so it should be functional. Unfortunately, True8Fx do not want to pay the money I earned from trading. BROKER IS A SCAM!!! KINDLY HELP ME, FPA !!!
    View attachment 6817 View attachment 6818 View attachment 6819 View attachment 6820 Withdrawal True8Fx email.
     

    Attached Files:

  2. BigT1

    BigT1 Sergeant Major

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    Hello Bratucu,
    True8FX claims to be regulated by SIBA (Seychelles International Business Authority).
    Here is a link to regulator's Contact Page where you may email your complaint and ask them to verify the registration.
    Seychelles International Business Authority (SIBA)
    .
    This appears to be a highly suspect operator, claiming to be regulated in one of the weakest jurisdictions possible.
    Keep us informed of your progress.
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
     
  3. Pharaoh

    Pharaoh Colonel

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    Let them know about this thread and ask them to publicly respond.

    Read the terms of their no-deposit offer closely. They may have a minimum number of lots traded before allowing withdrawals.
     
  4. naibody

    naibody Private, 1st Class

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    Dear Sir BigT1,

    Thank you very much ! I will make a complaint to SIBA !!!
    I will inform you with progress.

    Thank you,
    Best regards,
    Razvan
     
  5. BigT1

    BigT1 Sergeant Major

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    Hello Razvan,
    Before you do, inform your broker that it is your intention to file a complaint unless they make good on their commitments.
    This may be enough to get them moving.
    .
    However, Pharaoh's advice should be seriously considered before you make a threat of any kind.
    It is your obligation to "Know your Firm" and to "Know your Regulator" BEFORE you engage in trading with any firm.
    .
    If you have no grounds for complaint, do not complain or threaten to do so.
    Read your agreement or post it here for us to examine along with your trading record, if you wish our considered opinion.
    .
    Keep us informed.
    AI.
     
  6. naibody

    naibody Private, 1st Class

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    Dear Sir,

    I have not received any response at all to my emails when I won over 200 USD per account. Note that 2 weeks ago, Monday through Thursday I had no access to the account, because the server was in maintenance. Lucky for me that in the three days my positions have won! last message I received from them on 23 august, when I received an answer that may not withdraw 90 USD, can I withdraw money only if the balance exceeds 200 USD, not me informed about any other condition. Nothing in the rules I read about volume traded. And the problem is that they do not respond to any emails! I want them to respond and tell me what the problem is. Shame on them! [h=3]Re: Withdrawal from account 36812585[/h] Hide Details

    FROM:
    TO:
    Message flagged
    Thursday, August 23, 2012 2:46 PM


    Dear customer,

    To withdraw your welcome bonus you have to reach the balance of 200 USD.

    Regards,


    2012/8/23 Razvan <forexrzv@yahoo.com>

    Hello

    Kindly, I want to withdraw 90.96 USD from my account 36812585, using PayPal.

    Thank you,
    Razvan
     
  7. naibody

    naibody Private, 1st Class

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    last message I received from them on 23 august, when I received an answer that may not withdraw 90 USD, can I withdraw money only if the balance exceeds 200 USD, not me informed about any other condition. Nothing in the rules I read about volume traded. And the problem is that they do not respond to any emails! I want them to respond and tell me what the problem is. Shame on them!
    [h=3]Re: Withdrawal from account 36812585[/h] Hide Details

    FROM:
    TO:
    Message flagged
    Thursday, August 23, 2012 2:46 PM


    Dear customer,

    To withdraw your welcome bonus you have to reach the balance of 200 USD.

    Regards,


    2012/8/23 Razvan <forexrzv@yahoo.com>

    Hello

    Kindly, I want to withdraw 90.96 USD from my account 36812585, using PayPal.

    Thank you,
    Razvan
     
  8. naibody

    naibody Private, 1st Class

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    Dear Sir,

    I sent an email to them now: "Because we have not received any response from you, I started a thread on the FPA, which please respond publicly.
    Take this opportunity to inform you that I will also address SIBA."


    Thank you,
    Best regards,
    Razvan Razvan Statement_001. Razvan Statement_002. Razvan Statement_003. Razvan Statement_004.
     
  9. naibody

    naibody Private, 1st Class

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    Dear Sir,

    About your concern, I want to tell you that - the last message I received from them was on 23 august, when I received an answer that may not withdraw 90 USD, can I withdraw money only if the balance exceeds 200 USD, not me informed about any other condition. Nothing in the rules I read about volume traded. And the problem is that they do not respond to any emails! I want them to respond and tell me what the problem is. Shame on them!

    I have not received any response to my emails when I won over 200 USD per account. Note that 2 weeks ago, Monday through Thursday I had no access to the account, because the server was in maintenance. Lucky me that in the three days my positions have won!



    Best regards,
    Razvan
     

    Attached Files:

    #9 naibody, Oct 4, 2012
    Last edited: Oct 5, 2012
  10. Pharaoh

    Pharaoh Colonel

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    Give them until Monday to think this over. Then have a chat with SIBA.

    Also, grab screenshots of anything like bonus terms on their website. Just because an employee said that you had to have $200 before withdrawals isn't 100% proof that there aren't other conditions. Get those screenshots now, or they could add a few new terms to the website just to wreck your day.
     

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