UFX Bank's fake reviews and forum posts

[Pharaoh]

Definitely use Exteme Caution

Ken,

Did you miss the part about them claiming to have allowed another company access to their servers? It was supposedly an SEO company that had no real contact info and later turned out to be black hat. I wonder how much customer data that company had access to.

That alone is more than enough reason to use extreme caution, unless you don't mind having hackers given free access to confidential data inside company servers.

This company was also warned about ethics violations in the FPA's reviews in the past, promised no repeates, and then did it in the reviews and the forums. Don't you think that a company that breaks promises to be a reason for caution? After all, a TOS agreement is also a promise by a company. If they break one promise, why would you instantly give full trust for other promises?

I hope they've learned their lesson and stop trying unethical ways to promote themselves. I also hope they make their servers secure and don't let any unknown companies have access to those. In the meantime, I think "extreme caution" is a generous attitude.

 

[Michael_CMO_UFXBank]

No 3rd Party Company Has Access To UFX Client Data

You are correct to ostracize us for unethical marketing behavior in the past. However, I would like to clarify an important issue that was raised in the previous post “I wonder how much customer data that company had access to,” was a question raised by Pharaoh regarding a 3rd party SEO company that was used to increase the organic search exposure for UFX Bank earlier this year.

I would like to make it very clear that NO 3rd party company that has ever been used, or ever will be used for UFX Bank marketing efforts has ever had or will have access to ANY client data. I am not sure where this assumption comes from, but it is an incorrect assumption.

As I stated in my previous post, I accept the responsibility for any and all marketing efforts on behalf of UFX Bank. Additionally, every broker should be researched carefully before making deposits and beginning trading activity. On that note, I praise the efforts and the work of Forex Peace Army.

Additionally, drawing reference again to my previous post, as yet I have not seen any complaints on this forum regarding our trading platform, spreads, depositing issues and, most importantly, withdrawal requests. If any complaints should arise in the future, I would like to make it known that as an official representative of UFX Bank, FPA members who have any issues with UFX Bank are welcome to contact me directly through the forum or by email.

Michael Laurence
Chief Marketing Officer – UFX Bank
michael@ufxbank.com

 

[Pharaoh]

Hmmmnnn... so, if no third party was ever used, what about the statements regarding the blackhat company called Fifty? Was Cedrick Toledano of UFX just making that up as an excuse? If he was making it up, does your company penalize employees who do this sort of thing?

Either there really was a company with access to your servers, or your representative lied to try to evade responsibility for earlier fake reviews left from your company offices. Which one is it?

 

[Ken Long]

There are unanswered questions about Cedrick Toledano and Fifty, and it would be apropriate for Mr Michael Laurence to address this subject further. What was Mr Cedrick Toledano's position and directive? Why were Fifty's internet spaming practices employed? Who OK'ed and endorsed this practice, and what did they get out of this scam? And how can Mr Laurence assure us that in spite of this breach of ethics his company is still a quality, ethicaly sound, and financialy viable alternative to the larger and better established Forex brokers?

It does seem unlikely that a company such as this would knowingly allow a spamer access to their clients files, but their inteligence in this matter is already in question. More likely this internet spaming company Fifty was hired for marketing purposes, expressely to increase awareness of their product through the forums and message boards. Somewhere, someone thought this was a good and acceptable idea, after all this is the Forex market, and this is business as usual. Unfortunately, they allowed this company and certain persons within their own company to forge lies about them, in writing, on a public forum, with no comprehension of the risks and potential consequenses of their actions.

This is on par with the newbie trader who takes on a position he doesnt understand and can not control, and by the time he realizes his mistake half his account is gone. This is an unfortunate and painful lesson, but one we all have to go through.

The only question I really have is why would we even consider using a second or third tier Forex broker, instead of the largest, best capitalized, and regulated brokers, with a long history of customer satisfaction, and the experience not to get involved in shady schemes such as this.

 

[Michael_CMO_UFXBank]

For Clarification

Hmmmnnn... so, if no third party was ever used, what about the statements regarding the blackhat company called Fifty? Was Cedrick Toledano of UFX just making that up as an excuse? If he was making it up, does your company penalize employees who do this sort of thing?

Either there really was a company with access to your servers, or your representative lied to try to evade responsibility for earlier fake reviews left from your company offices. Which one is it?

In my post I stated that no 3rd party company had access to our servers. I did not state that we had not used 3rd party companies. In the world of marketing, campaigns are run without the need for having the access that was spoken about in the above post. In direct answer to your questions, there was a marketing company called Fifty who handled our SEO marketing. This company did not have any database or server access to our client records. Nor did they need to. Cedrick was not making this up. Additionally our company penalizes both internal employees and 3rd party companies who use indiscreet and unethical marketing methods. I hasten to add that we are no longer using the services of Fifty.

I am a little confused how you came to understand or think that a 3rd party company had access to our client data. Perhaps I missed a post, could you please clarify how this came about.

Thank you,
Michael

 

[Pharaoh]

Recheck the first post in this thread. Cedrick Toledano is quoted as saying:

Fifty were hired by us to do SEO. In the first few months they have created a auto content generator that blogged sites with keywords that represent forex.
They did all the tests from our software operational center which is located in Israel.
Once we saw that they are conducting these operations are black hat operation we have stopped their contract with us completely.

I would guess that your software operation center would house the servers for your software. Servers like that have all sorts of interesting information on them.

1. Are ANY client records kept at that site?

2. What's the internal security between the servers that Fifty had access to and the servers that kept client records? (assuming these are not the exact same servers) A lot of companies keep everything behind one really good firewall and don't have a lot of internal security. If that's the case, allowing some blackhat hackers access to one system means your company handed them the keys to everything.

3. Why would your company allow any SEO company that doesn't even have it's own website access to ANY company computer systems? Doesn't your company perform any due diligence on companies you subcontract to, especially those that are given access to any company systems?

 

[Babigau]

Hello,
I am from the UK (now living in Thailand.)
I started in UFXBank with 150K GBP last year. i have made some money and got every withdrawal in 3 days from request.
UFX IS THE ONLY BROKER THAT HAS THIS KIND OF SERVICE.
I THINK THAT WHAT THEY DID WAS WRONG BUT YOU NEED TO acknowledge that UFX is an excellent broker in this market where allot of the brokers are scam.
I went to their office in the UK and met some serious people there. i met with other companies but decided to go with this one.

finding a good broker is hard and these are the best - and i can say this after many years of trading.

posting messages here is wrong but let's not forget what is the most important thing - NOT STEALING YOUR MONEY !!!!!


In any case - this is only my humble experience - stick to the ones who pay on time and without any problems.

How are your withdrawal experiences since then? I've been waiting over 19 days since m withdrawal request, complete with excuses for delays.

 

[Babigau]

You are correct to ostracize us for unethical marketing behavior in the past. However, I would like to clarify an important issue that was raised in the previous post “I wonder how much customer data that company had access to,” was a question raised by Pharaoh regarding a 3rd party SEO company that was used to increase the organic search exposure for UFX Bank earlier this year.

I would like to make it very clear that NO 3rd party company that has ever been used, or ever will be used for UFX Bank marketing efforts has ever had or will have access to ANY client data. I am not sure where this assumption comes from, but it is an incorrect assumption.

As I stated in my previous post, I accept the responsibility for any and all marketing efforts on behalf of UFX Bank. Additionally, every broker should be researched carefully before making deposits and beginning trading activity. On that note, I praise the efforts and the work of Forex Peace Army.

Additionally, drawing reference again to my previous post, as yet I have not seen any complaints on this forum regarding our trading platform, spreads, depositing issues and, most importantly, withdrawal requests. If any complaints should arise in the future, I would like to make it known that as an official representative of UFX Bank, FPA members who have any issues with UFX Bank are welcome to contact me directly through the forum or by email.

Michael Laurence
Chief Marketing Officer – UFX Bank
michael@ufxbank.com

You have several complaints about withdrawal requests. Most of which are unresolved.

https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/8145-ufxbank-withdrawal-problem.html

I have been waiting long enough for you to live up to your obligations.