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UFXBank Kiss Of Death

Discussion in 'Scam Alerts' started by Austrader2012, Jun 14, 2012.

  1. Austrader2012

    Austrader2012 Private, 1st Class

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    Hello.
    I recently wrote to my account manager at UFX asking him what information he needed to help me withdraw funds from my trading account. Later that evening he got Oliver (some DowJones specialist to ring me spouting about a news trade that would have minimal risk and could make $3000. I also spoke to my account manager and told him I really wanted to withdraw my funds as this is all the money I have left in the world. But they assured me there would be minimal risk and I only took it because I believed that I was only risking $210! The idea was to hedge the news on the DowJones. As Oliver is an expert on the DowJownes he was very confident of his skills. During the night he rang me to early for the news trade but said it was a good price to enter. Shortly he rang again and I was hedged. Soon after he rang back and told me I should take $900 profit from one trade and he would call back with a 3rd hedge. I had to ring him at one point as the trade hit -$1700 and was told by Oliver that I was being emotional and that he would handle the trade for me. Well he never called back. And my loss was greater than $4700. According to UFX they got too busy to call me . They left the trade wide open with no SL and cleaned out my account crashing it.

    Oliver also change the minimum amount I could trade to larger amounts for some reason and I though he was talking about the Dow Jone only. Later UFX admitted he did change this parameter and they quickly corrected the mistake.

    Later Amy Walsh rang me back and said she had reviewed the conversations and said that I was in the wrong and that I should have handle the trades myself. They did a lot of damage and I really just wanted to take a break from trading due to being in a draw down for some time. I had closed quite a few -ve trades that day and then the pressure from UFX to keep trading blew my account.

    I don't think in my opinion that they were professional, and they felt more like scammers to me!

    I have been told they they will no return the funds to me.

    1) I am look for avenues to 1) Complain about mismanagement of my account and not returning my call (they all left work for the weekend and didn't even tell me the trade was in trouble).
    2)I hope to recover unauthorized transactions from my credit card.
    3) I hope to recover $60 from a trade that I was told I would get $900 but only got $840
     

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  2. Pharaoh

    Pharaoh Colonel

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    Don't wait even one moment. If UFX really made unauthorized charges against your credit card, contact your issuing bank right now and ask to speak to the fraud department. Ask about filing a chargeback and also how to file internet-based financial fraud charges in your country. You can also ask your local police about how to file such charges.

    After that, leave UFX a 1 star review if you haven't done so already.
     
  3. Austrader2012

    Austrader2012 Private, 1st Class

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    Where is the button for 1 star?
     
  4. Austrader2012

    Austrader2012 Private, 1st Class

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    Misc Info

    Please wait for a site operator to respond.

    You are now chatting with 'Trading Support3'

    Trading Support3: Hello and welcome.

    Trading Support3: How may i help you today ?

    Dale: Hello I believe that UFX is covered by the NFA accoeding to promotional UFX material I have found on the web. Is this correct?

    Trading Support3: What is your username ?

    Dale: I am new and thinking od joining. I have 50K I'd like to invest

    Trading Support3: please leave me your details and account manager will contact you tomorrow morning

    Dale: So is there any protection for UFX clients. Like all the mt4 brokers have?

    Dale: So are you saying there is no protection for customers...

    Trading Support3: what do you mean

    Dale: UFX advertise that they are covered by the NFA and I would like to find out what the UFXNFA number is

    Dale: It is on a lot of promotion UFX webpages

    Dale: Are you covered by a financial services guide?

    Dale: Is there any protection for your customers, complaints department, finacial services regulator?

    Dale: yes or no

    Trading Support3: i work at the trading support

    Trading Support3: I can help you with technical difficulties, update you on market news and events and the ongoing trends in the market.

    Trading Support3: For this specific issue you should speak with your account manager directly.

    Dale: I dont have a manager I just want to find out about UFX

    Dale: What do you offer.

    Trading Support3: for more information please leave me your details and account manager will contact you tomorrow morning

    Dale: What happens If I invest 50K with you

    Please wait for a site operator to respond.

    You are not currently in a chat session.

    You are now chatting with 'MichaelR'

    MichaelR: Hello and welcome.

    MichaelR: How may i help you today ?

    Simon: Can you please check Trade 1601742. I was told over the phone that this would be closed for $900 but it was closed for $840

    MichaelR: This is something that you will need to speak with your account manager about.

    MichaelR: Would you like him to contact you?

    Simon: I di make a complaint to Amy Walsh but she said I would never get my money back.

    MichaelR: What is your username?

    Simon: If it is on the recording that they were to close for $900

    Simon: then 900 it is

    Simon: Austrader

    MichaelR: Just a moment

    MichaelR: I see a note in your file that Amy Walsh has already given you a response with regards to this matter.

    MichaelR: I am unable to do anything further.

    Simon: Thats ok let me just take a screen shot so that people in the future will know that UFX is difficult to deal with

    Simon: I am posting a complaint on FPA

    Simon: My 2 banks

    Simon: NFA

    Simon: And ASIC and ACCC

    MichaelR: Is there anything else I can assist you with today?

    Simon: And she hasnt given me a respone to this particular trade

    Simon: so you are wrong

    Simon: this is the first time I have asked

    Simon: So can you help me with that?

    Simon: Any response

    Simon: Can you assist me with this today?

    MichaelR: I am unable to provide you with a different answer than you were already given by Amy Walsh.

    Simon: I never asked her about this

    Simon: goodday

    MichaelR: Simon: I di make a complaint to Amy Walsh but she said I would never get my money back.

    MichaelR: That is her response, correct?

    Simon: Its ok I will follow it up through external methods now


    Please wait for a site operator to respond.

    You are now chatting with 'Dealer2'

    Simon: imon

    Simon: hi

    Dealer2: Hello and welcome.

    Dealer2: How may i help you today ?

    Simon: 1097383 from the 15.09.2011.

    Simon: have sent 5 emails in reggards to this no answer for months

    Dealer2: What is your username ?

    Simon: could not close deal

    Simon: \Austrader

    Simon: got on chat

    Simon: asked for help and was not called till the next day

    Simon: sl hit

    Dealer2: who di you send to the emails ?

    would like an answer now: mike goldie

    would like an answer now: and 1 other

    Dealer2: the deal closed on stop loss

    Dealer2: what is the quiery ?

    would like an answer now: yes

    would like an answer now: can u give 2 mins on phone

    Dealer2: of course

    would like an answer now: why didnt some help me close it when 1 asked

    Dealer2: i see that the deal was running for 1 week

    would like an answer now: i was waitng for mike to call and close it he said he wouldnt be long but took over 24 hrs

    would like an answer now: the previous time it happened i was re imbursed

    would like an answer now: straight away

    would like an answer now: i have not even had a reply yet

    Dealer2: i am trying to understand...

    Dealer2: You waited 24 hrs for Mike to call you to close a deal ?

    would like an answer now: yup

    would like an answer now: i couldnt

    would like an answer now: was blocked

    Dealer2: Mike doesn't have to close deals for you

    Dealer2: You can call any time to dealing room

    Dealer2: that's why we are here

    would like an answer now: i di

    would like an answer now: i got on chat

    would like an answer now: have copied not i ythink

    would like an answer now: from chat as proof

    would like an answer now: notes

    Dealer2: we can't close a deal on chat sir

    Dealer2: You have to call to the dealing room

    Dealer2: or ask to call you

    would like an answer now: no but mike could have rung me and then put me through to room

    Dealer2: It doesn't work this way sir

    would like an answer now: previous time the y did

    Dealer2: If you want to close a deal,

    would like an answer now: is that why i have had no reply ?

    Dealer2: You don;t have to wait for Mike

    Dealer2: You have to call

    Dealer2: and ask to close a deal

    Dealer2: and not wait 24 hrs...

    would like an answer now: if the platform didnt block me 1ould have madea profit

    Dealer2: A reply you had to get anyway

    Dealer2: This what i will check with the managers

    would like an answer now: also default lot size got me last night . why is default not smallest size?

    would like an answer now: fat thumb 200 000 lot size

    would like an answer now: scaring mer

    Dealer2: I can try to assist you with this issue

    Dealer2: Which deal size would you prefer as a default ?

    would like an answer now: 25000

    Dealer2: I will forward this request sir

    would like an answer now: I havent seen any setting where you cab change this

    would like an answer now: I feel like I might take another big hot today

    would like an answer now: hit

    would like an answer now: accident that was

    would like an answer now: Can you tell me the total amount I have deposited?

    would like an answer now: Can I just reiterate no that I am off the phone....

    would like an answer now: there was 1 trade I couldnt close much earlier on and I got on chat and it was fixed for me immediately

    would like an answer now: 2nd time you are saying I have done the wrong steps?

    would like an answer now: do you want to ring me?

    would like an answer now: whats your number

    Dealer2: to which number ?

    would like an answer now: let me ring you

    Dealer2: i will call you

    Dealer2: to which number ?

    would like an answer now: sorry my mob is not here

    Dealer2: I can't assist with that trade at the moment

    Dealer2: Your account manager will be available after 07:00 GMT

    Dealer2: he will call you

    would like an answer now: ok
     
  5. Pharaoh

    Pharaoh Colonel

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  6. Austrader2012

    Austrader2012 Private, 1st Class

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    UFX - Some confusing info - Are they covered by the NFA

    I have written to the NFA as there are many websites promoting UFX is covered by the NFA. I cant say that these websites are generated by UFX so I have to be careful. Why would anyone say that UFX is covered by the NFA for no good reason is a worry. And the NFA should do something about this or the NFA will look like they are a toothless tiger! Not even sure If UFX are covered by the FSA in the UK! There is nothing on their website and they wont tell you in chat! Instead they say an account manager will call you to discuss it. I think I remember 4 years ago that this happened to me. Very sneakey if they are blatently lying!
     

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  7. antonisk

    antonisk Private, 1st Class

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    Its unbelievable the things that can go wrong by choosing the wrong broker.
     
  8. Pharaoh

    Pharaoh Colonel

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    If you see any websites claiming that they are NFA or FSA, email those website and ask for more details.

    Another thing you can do is to go to UFX using livechat, pretend to be a potential client, and ask if they are NFA or FSA regulated. If they say they are, ask for the registration numbers.
     
  9. Austrader2012

    Austrader2012 Private, 1st Class

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    Hello. I have pursued some funds from my debit card. Because the transactions are 120 days old I cannot get these funds returned through the bank even though UFX dont have authorization from me for these transactions. I have to file a complaint through the police instead. Not sure what else to do at the moment. Any ideas?
     
  10. Pharaoh

    Pharaoh Colonel

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    Sounds like it's time to talk to the police.
     

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