1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Vantage FX Unpaid CPA Commissions

Discussion in 'Scam Alerts' started by montymarketing, Mar 5, 2019.

  1. montymarketing

    montymarketing Recruit

    Joined:
    Mar 5, 2019
    Messages:
    6
    Likes Received:
    4
    Hello,

    Having read some of the most recent reviews of Vantage FX it saddens me that i hadn't found Forex peace army before initiating into a partnership with this company.

    I started my CPA partnership with Vantage FX mid November everything started great, i was assigned my account manager Steven Galt who was exceptional at responding to emails in a timely manner, he got everything rolling very quickly for me so i could start referring clients through them.

    Steven would send me emails frequently under the subject CPA Housekeeping which i thought was great and very professional, one email in particular that i feel is very relevant to my case is one sent on the 1st February 2019 where Steven informed me that my clients where depositing less than i was receiving in CPA commissions he kindly asked me to think about a two way business relationship, i took Steven's advice on board and made sure that any Tier 1 client i put through would deposit equal or more than the CPA i receive.

    Fast forward to coincidentally a few days after pay day (19/02/2019) , i receive a very standardized email from VantageFX (Not Steven) stating that i had beached Section 10.2 of my CPA Affiliate Agreement; saying my clients had traded in a non-genuine manor and that my funds would be withheld under section 7.90 of my CPA Affiliate Agreement. I responded to this email on the day it was received i heard nothing back, i then emailed Steven (25/02/2019) hoping he could shed some light on why my commissions had been unpaid, i hear nothing back, i was then stuck on how to communicate with this company and i managed to find Steven's Skype, i sent a message via Skype (01/03/2019) he reads the message Sunday and chooses not to respond. After the hopeless emails and blatant neglect of communication i finally found this forum where i hope i can finally get a response.

    To clarify i referred 8 Tier 1 clients to Vantage FX at $600 each so i am owed a total of $4800 from them, Vantage are refusing to pay these funds because my clients trading was "Non-Genuine" even though i had frequent contact with my account manager who was monitoring my clients and giving me feedback on how to keep a good business relationship between him and Vantage.

    I really do hope this case can be solved as it has caused great strain on myself and my company who have but time, effort and resources into referring VantageFX Tier 1 clients only not be paid. I just ask that Steven as he once said to me thinks of a two way business relationship and keeps good on his promise that mine and his interests are aligned.
     

    Attached Files:

    • 1.
      1.jpg
      File size:
      513.7 KB
      Views:
      0
    • 2.
      2.jpg
      File size:
      566.4 KB
      Views:
      0
    • 3.
      3.jpg
      File size:
      436.4 KB
      Views:
      0
    • 4.
      4.jpg
      File size:
      479.2 KB
      Views:
      0
  2. FxMaster

    FxMaster Lt. Colonel

    Joined:
    Oct 17, 2011
    Messages:
    7,290
    Likes Received:
    836
    First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

    Note: If you are new to FPA then invitation button will be enabled when your first post reaches 4 days old.

    Till then follow the below-suggested options to draw their attention on your issue

    If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
    Go to their website and invite them to here via Live Chat
    Invite them to join this thread via email (Send an email to every possible address).

    You will find their email and address https://www.vantagefx.com/company-profile/contact-us/

    Also, Share your story as a review https://www.forexpeacearmy.com/forex-reviews/6219/vantagefx-forex-brokers

    You can also share your story on their social media pages mentioned below:

    https://www.facebook.com/VantageFXAustralia

    https://twitter.com/vantagefx

    https://www.linkedin.com/company/vantage-fx/about/

    https://plus.google.com/+VantageFX

    https://www.youtube.com/user/Vantagefx


    Note: Don’t forget to update your review/s when you got a solution to your problem, Best Of Luck :)
     
  3. 4evermaat

    4evermaat Sergeant Major

    Joined:
    Jun 26, 2012
    Messages:
    623
    Likes Received:
    150
    1) keep a record of all communications between you and VantageFx. This includes recording phone calls.

    2) can you elaborate more on the definition of Tier 1 and Tier 2/Tier 3 referral clients are? You keep mentioning tiers, but never defined them.
     
  4. montymarketing

    montymarketing Recruit

    Joined:
    Mar 5, 2019
    Messages:
    6
    Likes Received:
    4
    Thanks for the pointers!

    Clients are put into different Tiers at Vantage FX based on the country they reside at i.e. a client from the UK is a Tier 1 client and you are paid top CPA commission for Tier 1 ($600) i would link in the Client Tier list that Vantage FX have created however it was only available through the back-end which i have now been locked out of!

    I hope this suffices to clarify the Tiers.

    Regards,

    Charles
     
    4evermaat likes this.
  5. 4evermaat

    4evermaat Sergeant Major

    Joined:
    Jun 26, 2012
    Messages:
    623
    Likes Received:
    150
    This is why you take a screenshot/video record/keep records of all relevant data.

    I would think you would have a copy of this anyway in a pdf or a copy of the relevant page. So you would know exactly how much to get paid.

    Maybe someone else here who is also a VantageFX affiliate can post or Private Message the relevant info? (info of the Client Tier list by country/region and other relevant info)

    ----

    As a side note, there is no honor among thieves. Referral business is supposed to add value. But many people are only trying to sign people up, hardly ever taking two minutes to consider what kind of company they are signing up with or sending their clients to.

    Now just think about WHO you have referred your clients to. Do you really want them trading their money at a firm like this?

    -----

    VantageFx has a history of not paying or selectively paying out affiliate clients:

    https://www.forexpeacearmy.com/comm...order-to-pay-the-previously-denied-cpa.51739/

    https://www.forexpeacearmy.com/community/threads/vantagefx-affiliate-account-cancelled.58352/

    Other brokers have done this also. Of course this does not excuse the behavior. Not sure why a broker would setup a payment system, make promises, and then renege on a technicality (which wasn't the fault of the affiliate/trader anyway).
     
  6. montymarketing

    montymarketing Recruit

    Joined:
    Mar 5, 2019
    Messages:
    6
    Likes Received:
    4
    [​IMG]
    The OP has invited the company to this discussion on Mar 15, 2019 at 10:37 AM
     
    4evermaat likes this.
  7. montymarketing

    montymarketing Recruit

    Joined:
    Mar 5, 2019
    Messages:
    6
    Likes Received:
    4
    So it has been 11 days since i invited Vantage FX to this discussion and despite seeing them respond to other queries on the forum mine has been ignored in the exact same way my emails & Skype messages have been. I am really at a loss with what to do moving forward now, as explained in my first post my business has been put under great strain from not receiving the monies owed and each day that passes with no resolution or even response certainly isn't making this any easier. I'd like to ask for some advice from the more experienced members of this fantastic forum on what my next step should be pursuing this companies diabolical business practices!

    Thanks in advance!
     
    4evermaat likes this.
  8. FPA Forums Team

    FPA Forums Team Caution: Moderators at Work

    Joined:
    Dec 2, 2015
    Messages:
    36
    Likes Received:
    13
    [​IMG]
    The FPA invited the Company to update this discussion on Mar 26, 2019 at 8:43 AM
     
    montymarketing and 4evermaat like this.
  9. 4evermaat

    4evermaat Sergeant Major

    Joined:
    Jun 26, 2012
    Messages:
    623
    Likes Received:
    150
    This scam seems to be quite common. I don't understand why a business would even have a model that lends itself to being cheated.

    Interesting that the affiliate did all the hard work, and now doesn't get paid. If the referrals are illegal, has vantagefx closed their account(s) as well?

    If the affiliate account is so bad, why would they still keep it on their books? (and still make money from it)
     
    montymarketing likes this.
  10. montymarketing

    montymarketing Recruit

    Joined:
    Mar 5, 2019
    Messages:
    6
    Likes Received:
    4
    That is a great point, shortly after receiving the final message from Vantage I advised my clients to withdraw any funds they had in there accounts, I shall reach out and see if the accounts are still active.

    Thank you very much for that great suggestion.

    Regards,

    Charles
     

Share This Page