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Universal Brokerage FX minnisota

Discussion in 'Scam Alerts' started by Dan Wadsworth, Jul 29, 2008.

  1. Dan Wadsworth

    Dan Wadsworth Recruit

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    I'm a newbie so pardon my lack of skill in this forum.
    I opened a managed forex account with Universal Brokerage FX (Pat Kiley) in Burnsville, Minn back in November. They only give quarterly statements with very little detail except bagin bal, end bal & earnings. No monthly activity. They charged a 5% up front fee to join and earn about 10 to 13% annum so it will be 6mos just to cover that. I'm into it for 150k and have heard unsubstantiated rumblings about problems but don't know where to turn for help. I don't see them on your reviews so that worries me right away.
    Can anybody point me in the right direction for info on these folks?
    Thanks,
    Desperate
     
  2. mtrimble

    mtrimble Banned Scammer

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    UBFX

    Dan,

    I have known Pat Kiley for 12+ years and am familiar with the UBXF trading methodology. I have visited their Headquarters; and being an old commodities trader, I can honestly say that I am impressed with their program and trading methods. There are no huge swings, draw-downs or any gut wrenching trading . Slow and steady wins the race. While their trading methodologies are not "sexy", they work year in and year out.
     
    #2 mtrimble, Sep 9, 2008
    Last edited: Sep 9, 2008
  3. candyErik

    candyErik Recruit

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    universal brokerage fx

    I just want to know who regulates ( pat kiley) universal brokerage fx and who insures the deposits.
     
  4. Pharaoh

    Pharaoh Colonel

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    It seeems that UBFX is an IB for CrownForex. You might want to check the Scam Alerts folder. There have been some recent complaints about problems getting money back from CrownForex.

    Hopefully, it's just a temporary cash flow problem with the brokerage, but I would recommend holding off risking any money with them until the situation is resolved.
     
  5. mtrimble

    mtrimble Banned Scammer

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    Clarification...

    "Hopefully, it's just a temporary cash flow problem with the brokerage, but I would recommend holding off risking any money with them until the situation is resolved."

    Universal Brokerage FX is having no problems whatsoever. Please contact us directly with any additional questions. 651-209-2606

    Thanks to FPA for the opportunity to openly address investor inquiries.
     
  6. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    Crown Forex is currently in liquidation.

    UBFX is under legal investigation. Marc Trimble (mtrimble) logged into his FPA account on July 22nd, 2009 and deleted all of his posts in the Crown Forex discussion thread. In those posts, he defended Crown and UBFX.

    I've locked his account to keep him from trying to erase his own words again.

    I'm now moving this thread over to the Scam Alerts Folder.
     
  7. nyfxtrade.com

    nyfxtrade.com Private

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    Don't wait until they disappear!

    I suggest you start trying to pull your money out! I do not know the regulations on your contract UBFX but make sure you now the content before contacting him! I would also contact a lawyer and CC all corespondens through him! If they will not cooporate and refuse to pay you then FPA can step in and try to do something! I hope you will at least get your initial depot back! That's a lot of money!



     

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