Problem UFX Markets Scam!!

[FxMaster]

Unfortunately you didn't FPA before, FPA clearly marked this company as a scam in Nov 2 2012, you can check it here (UFX Markets | UFX Bank | UFX.com | Scam Warning | Forex Peace Army). Put you story here too.

Now come to solutions, Go to below pages and make comment everywhere with your phn number and email to get reply from them, let everyone know how the scammed with you.

Official Facebook page

Official YouTube

Official G+

Official Twitter

 

[Joseph Lim]

John Andrews from UFX finally responded to my email on 12 Oct saying that since I launched a post on FPA, he had to take advise from his legal department before responding to me. I expressed that I'm interested to negotiate for settlement which he replied that he is glad I'm willing to work with him.

To begin, he sent me a statement of my deposits throughout the trading period which total USD156k and made me sign to confirm the deposits as it was the only way he could proceed with the investigation and settlement. He further confirmed my request for compensation of USD131k. He mentioned that the issue will be reviewed by our finance department to move forward to our complaint department and I will hear from them on 19 Oct.

Then on 19 Oct, he replied with a long email of tele-conversation transcript (which he did a brief version before) and concluded that I made all the decisions myself and they did nothing to compromise my position and the account manager was clear and explained all risks. He still didn't address the call that I received to trade on Gold. The call that caused the huge losses and the bad advice that was given. All he presented were one-sided, biased perspective to cover their acts. He also pointed out their client agreement T&C that clearly take away all responsibilities from UFX.

Last but not least, he very kindly provided a customer satisfaction settlement of USD10k TRADING BONUS which I doubt I will ever be able to withdraw a single cent. I did not accept or reject this settlement. I was asked not to waste time and energy by considering this settlement offer. He ended with that the company is prepared to counter any claims in any arena if I continue to escalate this complaint.

I responded requesting them to negotiate based on my proposed resolution instead.

Any comments from the FPA members appreciated. Do you see this going anywhere?

 

[Master Yoda]

They made you sign this paper so they will show it as proof to stop a possible chargeback, once you have signed it they gave you a "compensation".

UFX- Once scammers, always scammers...

 

[Joseph Lim]

They made you sign this paper so they will show it as proof to stop a possible chargeback, once you have signed it they gave you a "compensation".

UFX- Once scammers, always scammers...

Hi Master Yoda,

The 'compensation' is a joke, a trading bonus which I'm sure will be gone with the wind within a day or less. If they can wipe out my account of USD100k overnight, what is USD10k? It could be gone in a second.

They are just buying time to make me go through a 'investigation process' and trash replies pushing all responsibilities to clients.

I hope FCA and the other authorities earmark them if they really are trying to get FCA regulated.

You mentioned previously about writing to Toyga, will that help since they are under the same umbrella based on the details you flagged out previously?

I'm sure people from UFX are monitoring FPA closely and with their reputation at risk with several cases against them (same dirty tactic, different amount), please start assuming responsibilities to make things right by compensating their victims reasonably, NOT by trading bonus.

 

[Master Yoda]

Toyga is a company located in Tel-Aviv, Israel. The people who call you are calling from that office (all customer relation levels), this is the Marketing company. Why "marketing"? because they avoid paying Israeli taxes while they pay a much smaller taxes through Cyprus. Why they still claim they are calling from Cyprus under the UFX? 1. Because many won't be dealing with an Israeli company (each one and his reason) 2. because UFX and Toyga are owned by the same person named Haim Toledano

 

[Pharaoh]

John Andrews from UFX finally responded to my email on 12 Oct saying that since I launched a post on FPA, he had to take advise from his legal department before responding to me.

Was that conversation something like this? "Hello Legal Department. A client publicly posted the facts about what we did to them. What can I say now?"

 

[Joseph Lim]

Was that conversation something like this? "Hello Legal Department. A client publicly posted the facts about what we did to them. What can I say now?"

Hi Pharaoh, nice to have you back in action. Legal department probably has a template reply since this happened so frequently.

But really, they are not resolving the case. At least 3 active threads about UFX here, similar situation and they claimed innocence.

What else can we do?

 

[Pharaoh]

Some actions will be based on where you are. For example, if you are in the UK, you can file a complaint with Action Fraud. Ask your local bank and police about where to file an online financial fraud complaint in your country.

No matter where you are, you can file with econsumer.gov - Your site for cross-border complaints.

 

[Master Yoda]

What else can we do?

Just keep putting them under pressure.... They are shameless so don't be shy and keep buzzing them

 

[Joseph Lim]

keep buzzing them

Yes, I'm doing that even though they deny all responsibilities. I posted a few questions about transaction discrepancy as well as to follow up on compensation but they only replied about the transaction question, totally ignoring me about the compensation matter. I also noticed tell tale sign of their origin, the replied email came with time stamp in Hebrew. I search on internet translation sites to verify the language. I have since responded to them asking their real location and where they are from. Another sign which I noticed, they operate from Sun - Thu which is peculiar to certain countries.

If I do not get a positive direction from them, I'm intending to go to my local media, newspapers and TV to share my experience so that my fellow countrymen are aware when dealing with such dubious companies.