surfmaniac
Recruit
- Messages
- 3
Hi,
So, I joined UFXBank as it was then in 2010. Initially I deposited $500 as I couldn't afford any more at the time. I received some basic trading tips but literally was doing it by myself from day one. After some initial small profits, I incurred a loss and didn't really bother with it again. I was skeptical from day one you could say.
So bring on 2011 and I had a bit more disposable income. I began trading again (I still had not added any funds) as I started getting daily trade advice from my new account manager. I think I was onto my third at this point. I was doing well and at one point had nearly doubled my investment, but then made a loss on a trade of a few hundred dollars so i stopped trading again.
Then I received a phone call from my account manager saying how i was doing well with my trades. he encouraged me to add more funds to my accound and at that time they were offering a bonus of 25% on fresh funds. So, he twisted my arm to add $2,000 as I had more disposable income at this time which meant I received a bonus of $500. This bonus as soon as I received it meant I could not make a withdrawal until I had traded to a volume of $1,500,000 which surprised me. It also meant I could receive text messages with customised trading tips for gold members only and would last for a few weeks.
My total investment thus far was $2,500 and was $3,000 with the bonus.
Shortly after I stopped trading again because they were not doing well and I had to receive a phone call in order to confirm the details. This was roughly August/September 2011.
Fast forward then to of this week (October 2012) when I decided to try and withdraw funds from my account. I received a reply asking for ID (scanned copies of credit card, passport and utility bill) which I duly supplied.
Then my account manager rang me and re-iterated the fact that I could not withdraw funds until I reached a certain trading volume which he stated now was $7,500,000 (I thought he said this on the phone but it might have been $1,500,000). I asked how long this would take and he said we would have to enter quick trades with small profits and we might reach it in a few weeks.
So I asked him to recommend a trade as my volume was at a mere ~$650,000. He recommended selling gold. So he transferred me to a deal room and we did the trade together and the trade reached the take profit of $1,000. I was very surprised at this as my maximum profit previously was in the low hundreds (~$250). So I e-mailed him back asking for another trade and he duly rang me back and we sold gold again with a profit of $1,500.
So then on 10th October 12, I asked for a recommendation and again gold was suggested. At this time I had $5799.26 in my account so you can imagine I was quite happy. We completed the trade and I sat back on the couch. When I returned to my laptop I learned to my horror that my account was now worth only $105.26. I couldn't believe my eyes.
I logged out and back in again. I couldn't sleep a wink as I'm leaving the country soon to emigrate and could have done with this money.
I have contacted my account manager and sent a general mail to UFXmarkets asking for an explanation.
What can I do, or am I one of the unlucky people to be done by scams like this? Can I expect to get back my initial $2,500 investment as this is all I wanted in the first place?
I will leave a one star review also for UFXmarkets.
Any advice and help will be very much appreciated and thank you for taking the time to read this plea.
So, I joined UFXBank as it was then in 2010. Initially I deposited $500 as I couldn't afford any more at the time. I received some basic trading tips but literally was doing it by myself from day one. After some initial small profits, I incurred a loss and didn't really bother with it again. I was skeptical from day one you could say.
So bring on 2011 and I had a bit more disposable income. I began trading again (I still had not added any funds) as I started getting daily trade advice from my new account manager. I think I was onto my third at this point. I was doing well and at one point had nearly doubled my investment, but then made a loss on a trade of a few hundred dollars so i stopped trading again.
Then I received a phone call from my account manager saying how i was doing well with my trades. he encouraged me to add more funds to my accound and at that time they were offering a bonus of 25% on fresh funds. So, he twisted my arm to add $2,000 as I had more disposable income at this time which meant I received a bonus of $500. This bonus as soon as I received it meant I could not make a withdrawal until I had traded to a volume of $1,500,000 which surprised me. It also meant I could receive text messages with customised trading tips for gold members only and would last for a few weeks.
My total investment thus far was $2,500 and was $3,000 with the bonus.
Shortly after I stopped trading again because they were not doing well and I had to receive a phone call in order to confirm the details. This was roughly August/September 2011.
Fast forward then to of this week (October 2012) when I decided to try and withdraw funds from my account. I received a reply asking for ID (scanned copies of credit card, passport and utility bill) which I duly supplied.
Then my account manager rang me and re-iterated the fact that I could not withdraw funds until I reached a certain trading volume which he stated now was $7,500,000 (I thought he said this on the phone but it might have been $1,500,000). I asked how long this would take and he said we would have to enter quick trades with small profits and we might reach it in a few weeks.
So I asked him to recommend a trade as my volume was at a mere ~$650,000. He recommended selling gold. So he transferred me to a deal room and we did the trade together and the trade reached the take profit of $1,000. I was very surprised at this as my maximum profit previously was in the low hundreds (~$250). So I e-mailed him back asking for another trade and he duly rang me back and we sold gold again with a profit of $1,500.
So then on 10th October 12, I asked for a recommendation and again gold was suggested. At this time I had $5799.26 in my account so you can imagine I was quite happy. We completed the trade and I sat back on the couch. When I returned to my laptop I learned to my horror that my account was now worth only $105.26. I couldn't believe my eyes.
I logged out and back in again. I couldn't sleep a wink as I'm leaving the country soon to emigrate and could have done with this money.
I have contacted my account manager and sent a general mail to UFXmarkets asking for an explanation.
What can I do, or am I one of the unlucky people to be done by scams like this? Can I expect to get back my initial $2,500 investment as this is all I wanted in the first place?
I will leave a one star review also for UFXmarkets.
Any advice and help will be very much appreciated and thank you for taking the time to read this plea.