ufxmarkets.com conned me out of £56000 and am on the verge of suicide

origin49

Recruit
Messages
3
HI,

not sure if anyone can help, am in a bit of a dark place.

I think the story is pretty common from what I have read now and now regrettably wish I hadn't taken ufxmarkets advice or pushy sales tactics.

Without going into the details, I started an account with them and they made me some money back I got confident in their ability and then they started to lose me money and when I repeatedly tried to pull my money out they kept pressurising me into staying to recoup my losses. They then opened a trade on my behalf which lost $72000 in one go. I nearly launched myself infront of a tube train shortly afterwards. I have a young family and they don't know about it.

Its not so much a cry for help, I don't need anyone's pitty, its more of a request to see if anyone knows of a legal way to take ufxmarkets to court for deliberately bad advice which leads to their profit or have they covered their back so well that I may aswell drop it and try and pick up the pieces of my life?

thanks
 

henyo

Master Sergeant
Messages
429
I might not totally understand the amount of stress and pressure you are going through right now, but pls do not do anything rush, and stick around for the users here at FPA might need some details from you regarding the transaction you had with ufxmarkets. its a big lose but its money that can be made again, not worth the agony of jumping infornt of a train.
 

FxMaster

Lt. Colonel
Messages
8,165
Bro first of all take a deep breath and relax, follow below steps and In-Sha-ALLAH you will get your money back.

They are regulated under Ifsc.

You will get licensed details here http://www.ifsc.gov.bz/licensed-service-providers/list-f/ Scroll down and check number 47.

Now go to ifsc contact page and contact them via email, phone or contact us page (I`ll suggest Phone for fast result) tell them your story.

Second choice is Invite them to this thread and ask them to clarify it.
 

FXWarriory

Banned for uncivilized conduct
Messages
373
Not discouraging you but your broker is one of the biggest scams :
UFX Markets | UFX Bank | UFX.com | Scam Warning | Forex Peace Army

Don't think that you will get your money from the scam nor from its regulatory.

What you can instantly do is: I do not think you transfered that amount via card but if you had done it on separate transfers, ask your bank to charge it back to your account.
Depending on the country you are located at, inform your country internet police regarding this scam.
Ask your bank of anyway of getting your money back if you had done bank wire transfers, especially if there was an intermediary bank involved in Europe or the US.
 

FXWarriory

Banned for uncivilized conduct
Messages
373
Feeling with your mental and physical condition, it might not be the right time to say this but am always curious why clients find FPA and report their scams just after they had been scammed, why not take pre-measures like read FPA brokers reviews before....and deposit the minimum(if you are real convinced!!) when the broker is not a big name!!

Can not imagine how those scam brokers telemarketers can cheat people that easy in different dirty ways. Many might be very good in dragging people into the scam but that can be avoided easily when traders start taking decisions on their own, what they feel and think is right(take time to reach a conclusion before depositing any money) not what they listen on phone calls from brokers account managers and sales people:mad:
 

Amin EL-HAKIM

Master Sergeant
Messages
297
I feel for you my friend but I wonder how you found the FPA's website. If you did it after you went with this scammer, you're probably to be blamed much. UFXmarkets kept calling me for around a year and my only answer was, solve your FPA problems before contacting clients, and apparently, they just keep going. I hope you get your funds back and as Eddiger have advised, file a case, although one more star scam star for this broker won't really change a thing. And complain to your payment provider as FXWarriory has advised.
 

origin49

Recruit
Messages
3
UK fool

Your story is sad and losing that amount of money is a big bang yet nothing worth your life and your family life without you.

UFX is a big scam, that we all know. Your case in not lost yet read this http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/25603-have-you-been-scammed-how-complain-manual.html

By the way, where are you from?
Hi,

am from the UK. Thanks for the links and help. Feel like a fool and am so busy running my business I didn't do my research thoroughly. Its completely me but its a hard pill to swallow! I'm going to follow some of the leads that have been posted here and see if it gets me anywhere. Failing that I'll find a Cypriot lawyer to take it a step further.
 

FXworldTrader

Banned UFX/uBinary employee
Messages
3
I am sorry to hear this origin49 but to tell you the truth... and i know something about regulation: No one can make you open a position in the market if you do not confirm that you want to do the positions. If this broker is regulated, he could not have done this and will not risk his license for this kind of money.
Think again and see if you have confirmed the position by phone or not. If not, you can complain to the regulator. if you have confirmed, i dont know what to tell you... it's your fault.
if you want to be trader you need to know what you are doing when doing a trade. trading is not for everyone..
ths only question is if you confirmed
 

Pharaoh

Colonel
Messages
19,708
Origin49, I have a few ideas for you.

1. Gather ALL you evidence.

2. If you deposited using any credit cards, call (or better yet, visit) your issuing bank and ask to speak to the Fraud department. Explain everything caefully ask ask if a chargeback is possible.

3. File a report with econsumer.gov - Your site for cross-border complaints.

4. Since you are from the UK, file a report with Action Fraud.

5. Considering the sum, consider a lawyer.

I am sorry to hear this origin49 but to tell you the truth... and i know something about regulation: No one can make you open a position in the market if you do not confirm that you want to do the positions. If this broker is regulated, he could not have done this and will not risk his license for this kind of money.
Think again and see if you have confirmed the position by phone or not. If not, you can complain to the regulator. if you have confirmed, i dont know what to tell you... it's your fault.
if you want to be trader you need to know what you are doing when doing a trade. trading is not for everyone..
ths only question is if you confirmed
UFX Account (Mis)Managers have a long and sordid history of reports to the FPA about placing trades for traders (even explicitly against the wishes of the account holder) and also providing suicidal trading advice. Why would you create a forum account just to try to blame a victim?

For some reason, your words make me suspicious that you work for UFX. Do you?
 
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