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UFX Markets withdrawal

Discussion in 'Scam Alerts' started by Fxpro7, Dec 5, 2012.

  1. Fxpro7

    Fxpro7 Private

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    I have asked 3 times for access to withdrawal.
    Each time, they say they will but up to now no access.
    At the same time , after I have read all the threads I have sent a letter in Cyprus to close the account. Eventually, I have said I will stop all trades on account.
    As I am not zen now, I welcome any advice to get all my money back.
    Forexpro7
     
  2. Pharaoh

    Pharaoh Colonel

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    You've stopped trading. That's good.

    If your account manager or anyone else contacts you and tries to get you to open a trade, no matter what that person says, no matter how "sure" the trade is, DO NOT TRADE. The number of people who report getting wiped out by "one last trade" is why I started calling that the UFX Kiss of Death.

    Send an email to your account manager and every other address you can find for UFX. Tell them you are trying to withdraw your money. Include a link to this thread and promise to update it as soon as your money arrives.

    How did you fund your account?
     
  3. Fxpro7

    Fxpro7 Private

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    Update

    Hi,
    Thanks for the advice. By all means I will not open any trade now.
    I did what you said : I wrote to almost all the contacts I had stating the situation.
    We are moving in the right direction.
    At 8.30 my time this morning, the account manager told me that the withdrawal was in progress. At 9:12, the manager called me, then wrote me and told me I could withdraw the amount of money discussed . I did it.The withdrawal process worked.
    I had a confirmation message telling me my request was taken into account. They asked for Id.I asked the manager by email if they have everything and he told me in the next few minutes everything was fine.
    I funded the account through paypal. Last time I did a small test of withdrawal, I was refunded through paypal one day after the request. I have to say it is a correct timeline. I will report here how long it took for a bigger amount.
    My question now is how do I manage the close of the account ? I still have a big investment ( compared to my income) on the account. Shall I write them by email, by snail mail in Cyprus ? Shall I wait that the first withdrawal is done ? shall I give a reason ?
     
  4. FXCobra

    FXCobra Banned for uncivilized conduct

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    Ufxmarkets is listed Scam by FPA: UFX Markets | UFX Bank | UFXMarkets.com reviews and ratings by Forex Peace Army

    I hope you can get something back from your account in someway:confused:
     
  5. BigT1

    BigT1 Sergeant Major

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    Fxpro7,
    .
    UFX Markets a/k/a UFX Bank, claims to be regulated in many countries including Belgium, but the truth is they are on the Belgian Unauthorized List:
    UFX Bank - website FSMA
    .
    If you have a large balance I suggest you do 3 systematic withdrawals of 40%, 30%, 30%, over the next 3-weeks.
    Do NOT tell them you want to close the account.
    Just order each withdrawal in writing, and keep you mouth shut and fingers crossed.
    As soon as you get the first one, order the second one, but not before; etc.
    Give them no reasons or explanations for withdrawing your funds; doing so is your perogative.
    On the 3rd request, leave $10 in the account to keep it open and tell them you will return to trade again some day, so although you are taking a break, you don't want to close the account.
    .
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
     
  6. Pharaoh

    Pharaoh Colonel

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    And, during those withdrawals, don't trade for ANY reason.

    Please keep the thread updated. If you can get all your money back, then it can be marked as resolved.
     
  7. Fxpro7

    Fxpro7 Private

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    Hi,

    When my account manager called me yesterday to do a trade, I said I want to make a pause.
    Meanwhile, I have asked my bank for help. They said they can freeze the amount if my withdrawal is not in my account within 5 days.
    I have also checked with FSA ; they are registered with FSA.
    I have also called the Cysaec. They are closed after 3 pm on thursdays and fridays.
    This morning, I have asked for a minimum withdrawal just to see if I have access to withdrawals.
    It worked. So I do not have to ask my account rep or account manager for permission.
     
  8. FXCobra

    FXCobra Banned for uncivilized conduct

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    Your account manager is very impudent to say the least, seems that all ufxmarkets scam broker managers are like that as Pharaoh explained their cheat tactic and named it kiss of death, liked the description and looks dresses well ufxmarkets from top to bottom:p

    Don't tell the broker about this thread and try to withdraw your money calmly, I think you better make it 45% after sometime 45% and leave 10%(if the total amount is not big), also if the impudent manager call you, tell him you'll leave some money for near time continuation of trading.

    Your luck will determine your success from now on, with such scam broker:mad:
     
  9. BigT1

    BigT1 Sergeant Major

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    Fxpro7,
    Good. Now proceed as I have suggested, slowly and calmly.
    Please ignore post#8.
    I am a professional.
    Just keep a narrow focus on what Pharoah and I say.
    Make your next request politely, but firmly.
    No extra words. No unneeded comments.
    Just submit your withdrawal instructions; ASAP.
    .
    AI
     
  10. Pharaoh

    Pharaoh Colonel

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    You can try taking it out in pieces, but at this point, I advise going for total withdrawal. If it makes you account manager happy, leave $5 in the account and tell him you may deposit more for trading later, but will consider any delays in processing your withdrawal to be a reason to not only never trade with UFX again. If that happens, promise to warn as many people as possible about the issue.

    Make sure the withdrawal request is in writing that that all required documents from you are on file.

    Keep all further communications with UFX in writing. If the account manager calls again, tell him "No" to all trade suggestions and to email you the status of your withdrawal. Then say you are too busy to talk further, wish him a nice day, and hang up.
     

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