• Please try to select the correct prefix when making a new thread in this folder.

    Discuss is for general discussions of a financial company or issues related to companies.

    Info is for things like "Has anyone heard of Company X?" or "Is Company X legit or not?"

    Compare is for things like "Which of these 2 (or more) companies is best?"

    Searching is for things like "Help me pick a broker" or "What's the best VPS out there for trading?"

    Problem is for reporting an issue with a company. Please don't just scream "CompanyX is a scam!" It is much more useful to say "I can't withdraw my money from Company X" or "Company Y is not honoring their refund guarantee" in the subject line.
    Keep Problem discussions civil and lay out the facts of your case. Your goal should be to get your problem resolved or reported to the regulators, not to see how many insults you can put into the thread.

    More info coming soon.

I am having an issue with a company
Was that false NFA claim in writing?
- Seems like they were ready to pursue it but yes....
Thank you for this information. I was able to find numerous allegations on the web that the firm is claiming to be an NFA Member, however I am unable to view the firm's actual website. Do you have any evidence that the firm itself is claiming to be an NFA Member?
Thank you for your assistance,
Alexandra Kiesling
Manager, Compliance Department
National Futures Association
300 S. Riverside Plaza Suite 1800
Chicago, IL 60606
T: (312) 781-1374
E: akiesling@nfa.futures.org
We have received your multiple complaints against UFX Trade LLC. Please be advised that this entity is out of our jurisdiction. Please see the attached letter for more information.
Thank you,
Eric Dale
Field Supervisor, Compliance
National Futures Association

300 S. Riverside, Suite 1800

Chicago, IL 60606

P (312) 781-1473

F (312) 559-3413

edale@nfa.futures.org
 
Sounds like you need to send links and screenshots to Alexandra and Eric.
 
I think I did that already and they just say that UFX is not covered by the NFA!
Here is a copy of the response so far from CYSEC -
CySEC_Complaints (complaints@cysec.gov.cy)
1/07/2013
Dear Sir,
We acknowledge receipt of your online complaint form.

complaints@cysec.gov.cy (complaints@cysec.gov.cy)Department of Market Surveillance and Investigations
Cyprus Securities and Exchange Commission (CySEC)
27 Diagorou, CY-1097 Nicosia / P.O.Box 24996, CY-1306 Nicosia
Tel. 22 506600, Fax. 22 506700
email: complaints@cysec.gov.cy
http//cysec.gov.cy

29/06/2013
Your complaint having been successfully submitted will now be assigned to the investigations team that will be handling the case. As a first step in the process, we kindly draw your attention to the following:
• In case that the provision of further information/documentation/evidence is deemed necessary, you will be contacted by the Department of Investigations which will be dealing with your complaint
• Depending on the outcome of the investigation the case will be brought to the Council of the Cyprus Securities and Exchange Commission (“CySEC”) for taking any measures deemed necessary if the entity being investigated has been found to have violated the laws the enforcement of which has been entrusted to the CySEC.
• The CySEC although it has powers to take measures (which include monetary sanctions) it has no powers to order the payment of compensation/restitution of damages suffered.
• The policy of the CySEC is to announce any sanctions imposed on its supervised entities. Apart from this announcement, as a matter of policy, no other feedback/information is provided / announced regarding on-going investigations.

Yours sincerely
Department of Market Surveillance and Investigations
Cyprus Securities and Exchange Commission (CySEC)
27 Diagorou, CY-1097 Nicosia / P.O.Box 24996, CY-1306 Nicosia
Tel. 22 506600, Fax. 22 506700
email: complaints@cysec.gov.cy
http//cysec.gov.cy
 
Dekker, Truus (Truus.Dekker@afm.nl)
9/07/2013 Dear Sir,
With reference to your email and our former email of July 2, 2013 we inform you that on the website of UFXMarkets you can read that UFXMarkets is a trading name of Reliantco Investments Limited, a Cyprus Investment Firm authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) with license number 127/10: Regulations and Licenses | UFXMarkets.com.

In the AFM register you can find Reliantco Investments Limited as a EER investment firm: Reliantco Investments Ltd | Register investment firms | Registers AFM | AFM. The trading name UFXMarkets is not mentioned in the AFM register.

Single European licence

This part of the register includes undertakings from other countries of the European Economic Area (EEA) (consisting of the Member States of the European Union, Norway, Iceland and Liechtenstein) which offer investment services and/or perform investment activities in the Netherlands relying on the so-termed single European licence. These undertakings are subject to supervision in their country of origin (by their home supervisor). If these investment firms wish to operate through a branch in the Netherlands or wish to offer investment services or perform investment activities in the Netherlands by free movement of services, they must report this to their home supervisor.

Because Reliantco Investements Limited is authorized and regulated by the Cyprus Securities Exchange Commission we suggest you to contact the CySEC; Cyprus Securities and Exchange Commission.
 
Keep up the good work. The more data you send to the regulators, the more likely that someone will start checking on the problem.
 
I have been contacted out of the blue by UFX. I would like to welcome Miguel Martinez, Senior Account Manager to this conversation.
Please feel free to contact me if you have any questions regarding Forex or your trading account. I look forward to providing you with all the information you need in order to make the most out of the market and your account at UFXMarkets.
MiguelMa@ufxmarkets.com
• Tel: +44.208.150.0778 # 1254 - http://www.ufxbanks.com
• Fax: +44.207.681.1810

I have told him about my complaint and linked back here. Let's see If he has a response for us!
 
UFX have not gotten back to me.
Is this website able to help me resolve this case?

I keep asking for tactical nuclear weapons for dealing with situations like this, but my requisition order keep getting rejected.

Sadly, there are some limits on what the FPA can do. UFX has been given every chance to fix themselves. The Scam Finding shows exactly what policies need to be changed to turn them from one of the worst scams out there into a respectable broker. Since this would prevent them from pillaging clients at will, they seem to have zero interest in reform.

If you can't get a lawyer to go after them, the next best solution is to do everything legal and ethical in your power to drive them out of business. I wrote an article just for such situations:

https://www.forexpeacearmy.com/fore...-back-ethical-vengeance-against-scammers.html
 
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