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UFX Scammed again.

Discussion in 'Scam Alerts' started by Australian Farmer, Jan 31, 2016.

  1. Australian Farmer

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    On the 4/1/16 I regrettably joined UFX. The personal account manager assigned to me was Tom Marks.
    I started with an initial deposit of $1000 US Dollars. Tom got me to do some small trades and I made some small profits. He then insisted and insisted that I should deposit more and more. Finally I had deposited a total of US $87000. He even suggested that I should take a bank loan to fund my account, thankfully I did not do this.
    Upon depositing this amount Tom instructed me to open trades of a total of 1000000GBP/USD with take profits of $100 to $1000. The take profits were reached to $500 but 500 000 GBP/USD remained open. I kept querying Tom about these trades, but he would keep saying "they will be fine you don't need to worry about them". So I kept these open for a period of time.
    In the meantime Tom went on to dictate what trades I should be making and these went on to make profits, though not as much as the GBP/USD was falling in my account. On Jan 08 I emailed Tom about what the restrictions be if I was to withdraw the money from my account, as I had read the reports about them on this website and because I had received their "bonus" I was unsure. He then rang me and reassured me they were a legitimate company and that the people that posted on this website didn't do what he said and made trades bigger than he recommended. He also told me other posts were just his competitors putting bad posts up about him. He also said every company gets some bad publicity. At this stage unfortunately I believed him. On this particular night Tom dictated that I make some trades on Gold that reached the take profits so I believed Tom was there for my best interests.
    This particular night was the non farm payroll in the US and he told me there would be many trading opportunities. I stayed up late for this but Tom was not contactable after the Gold trades reached there take profit.
    Still worried about my GBP/USD trades, so I tried to contact Tom on the Sunday and Monday nights but still to no avail. I then decided to put a stop loss on these trades because I felt that Tom's intention was not to keep these trades open for this long and I did not want to lose anymore on these trades. The stop loss was reached on these trades.
    I made a complaint to UFX online chat and also put in a request to withdraw $2000. The following night I still hadn't been contacted so I put in a request to withdraw the full remaining amount in my account of US$81036.50. It was only after I put this request in that Alex Cooper contacted me. I queried him about Tom and he told me that he was attending to his dying brother. I believe this was said to make me feel sorry for Tom, and appeal to my compassionate side. He suggested that I cancel my request to withdraw and sleep on it for a night, so I did this. At this time he also recommended that I put 1000000 GBP/USD trades on, and told me that my decision to put the stop loss on the earlier trades of these was a bad idea even though it had continued to drop further. Any research I had done indicated that the GBP would still fall and this was the first time I had a hunch this could be a scam and put my withdrawal request in again. This time confirming my decision via email to Alex.
    Tom then contacted me on the Friday and talked me around to trusting him again, Persuading me to cancel my withdrawal request (even though I had put the request in over 7 days earlier, so should have been well and truly processed). Tom convinced me that his intention was to trade for the long term and not do anything to jeopardise my account. I told him I was not interested in big risk and he assured me he would only recommend small, low risk trades.
    On the 18/1/16 Tom again dictated that I should sell the USD/CAD at 15000000 as this was a new currency pair I was not familiar so I asked if this was low risk and he assured me that this trade was low to medium. So I decided 10000000 should be ok as it was under Toms recommendation and this was going to be a low risk trade. How I was wrong, I did not realize how big this was trade was and it was that Tom had regained my trust that I just did what he was pushing me to do. I say pushing because was always very pushy and stern on the phone. He also got me to buy 50000000 GBY/JPY, this also a new currency pair and not realizing the size of the trade. These two trades in hindsight were far to big for my account.
    In the middle of that night (AEST) I emailed Tom and asked if my account would be ok, as I had already lost half of my equity, and he assured me that it was still low risk and for me to go back to bed. By the morning my account was wiped out.
    Tom then rang me that night and his answer was to put more money into my account to try to rebuild, $10000 to $20000 but I told him I was done. Tom told me anything and everything for me to trust him and it was through this that he manipulated me.
    My belief is that the amount on the trading platform is only theoretical, and is never opened in an European bank in your name. I believe that there entire aim is to deplete your account so they are left with all of your money. It is only after reading everyone's experiences on here, that I realise I am one of very many people that they have done this to. I have requested from UFX that they deposit the funds I initially deposited with them back into my account. If there is anyway that you could help retrieve my funds and at very least expose them for what they are it would be greatly appreciated.
    Regards Australian Farmer
     
  2. FxMaster

    FxMaster Lt. Colonel

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    Two steps that you must follow

    1st - Invite them to join this thread via email (Send email to every possible address).

    2nd - Go to their website and invite them to here via Live Chat.
     
  3. Pharaoh

    Pharaoh Colonel

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    How did you deposit? If by credit card, get in touch with the fraud department at your issuing bank immediately. Explain how you were prevented from withdrawing your money and that withdrawal is one of the services a broker is supposed to offer.
     
  4. Australian Farmer

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    Have just invited as many of the UFX employees to this thread as I could
     
  5. Australian Farmer

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    Thanks for your advice. Can't believe I have been scammed so bad. You do a great job here!!
     
    FxMaster likes this.

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