Problem Vantagefx Account Suspended - Profit and DEPOSIT FREEZED for 90 DAYS

[cedicarlos]

My account was frozen for 1 week in Vantagefx and thereafter a $ 2000.00 account were withdrawn and the account was negative $ 500.00. The other account that I requested transfer to another broker $ 500.00 were stolen. Does anybody knows how to complain on FSA ?

Let's denounce vantagefx on social networks.

 

[musketeer]

No FSA as of April 1st. That's got to be the worst April Fools Day joke ever perpetrated on traders.

Is the FOS still out there or did it get taken down along with the FSA?

Since I've already tried (before deadline of FSA) I can say that there is no way to comaplint to FSA directly - they lead you to FOS only, no other way to complaint. And I did it ofcourse - filled a case with the FOS. And received an e-mail stating that they received it.:


Dear Mr XXXX

Your complaint

Thank you for contacting us. We will reply as soon as possible – but within two weeks.

If you need to get in touch before then, please use your reference, NNNNNNN

Yours sincerely

　

Dean Bartholomew

Administrator (CCD)

Telephone 0800 0 234 567

Email complaint.info@financial-ombudsman.org.uk

So, I do not know what more could be done, except taking that to the court.....

 

[Pharaoh]

Contact the FOS again. There's also the FSA's replacement, the FCA. Get in touch with them too.

 

[Elio Matacena]

Compliant sent: let's wait.-

Dear Fellow Traders,

here you are my update (2013-04-06).

Today I have written them:


Da: Elio A. Matacena <myemail@mysite.999>
Inviato: sabato 6 aprile 2013 11:53
A: 'complaint.info@financial-ombudsman.org.uk'; 'fcc@fca.org.uk'
Cc: 'Enquiries'; 'Tess Nicholson'; Robert Berkeley (robert.berkeley@vantagefx.co.uk);
'help@timesplus.co.uk'; 'newseditor@independent.co.uk'; 'talkback@the-sun.co.uk'
Oggetto: Financial Fraud from "vantagefx.co.uk": an English Broker.-
Allegati: Vantage_FX_UK_Elio_Matacena.pdf; DetailedStatement - final.zip; I- Update on the
suspension of your account (01).pdf; 102789.xlsx

Dear Mrs. / Mr.,

I must apply a compliant against Vantage FX UK (https://www.vantagefx.co.uk/) because they unilaterally decided to
write off all my gains after 115 trading days. During this time, they have sent me the “Daily Confirmation” as well as
the “Monthly Statement” that are a confirmation for both broker and trader for the trades.

After 2 weeks of email, attached, they still don’t want to give me back my money.

Mr. Jay Mawjii, that read us in copy, sent me an Excel spreadsheet (attached) saying that all those trades have been
written off because “Causing systematic manipulation or abuse of markets”, and/or “Interfering with the markets
efficiency and integrity”, and/or “Exploiting mispricing”, and/or “Operating in Breach of our Client Agreement 20.5”
with no proofs at all.

I can proof they are lying very simply: some trades are longer than 13 minutes: it’s a normal scalping. In fact, take a
look at one of my best trade, the number 5226671:
Opened at: 25/02/2013 21:00:10
Closed at: 25/02/2013 21:13:49
Lot used: 0.75
Gain: 142,63 EUR
Trade duration is 13 minutes and 39 seconds.

Let’s take another good trade (number 5264523):
Opened at: 7/03/2013 14:00:04
Closed at: 7/03/2013 14:13:59
Lot used: 0.75
Gain: 372,43 EUR
This trade duration is 13 minutes and 55 seconds.

The truth is that they want to gain with and without any right, stealing money even to whom gains, inventing and
finding excuses, taking money from whom loose and using tricks and plug-ins for scamming their clients. In other
words: with them no one can win. I challenge them to publish their results of any broker!

In my personal experience no one is guilty or condemned (as I have already been) until it’s proved he is guilty. But
Vantage FX UK stealing my money from my broker account sentencing I am guilty.

Here there is the whole story:
I am an Italian resident and citizen that have opened a Broker account with Vantage FX UK on 2012/12/27 depositing
EUR 1,050.00. My last trade was done on 2013/03/14 and I made 212 trades in 78 days. The result was a gain of
+1,928.58 EUR.

As you can see from the attached statement, I have used different scalping strategies and the average time of the
trades is 0.075 hours (4.5 minutes) and you can find 10, 13 minutes trades.

The trading activity started on 2013/01/02 with my very first 0.01 lot trade (lost 1.5 pips = 0.11 EUR). At the end of
the first month (January) I had gained 314.41 Eur (27 trading days). The average lot used has been 0.06 lots: a very
safe trading style.

On the second (and last) trading month I have made 118 trades (94 in January) and the average lot size increased to
0.17 (with an average balance of 2.000 EUR was even more cautious than the previous month). I gained 1,614.17
EUR and the trading time length decreased only because I added another scalper (but we are talking about few
seconds of average difference).

At the end of any day I have received the “Daily Confirmation” statement that I controlled carefully and everything
was ok, by both sides. How is it possible that after 30, 40 and 50 days the broker decides to make a “Cash Adjustment
- P&L” cutting any positive trade? Unbelievable!

So, they have stolen me 1.984,50 EUR.

By the way, I wrote them suddenly and wrote they couldn’t do it, they couldn’t steal my money, they were making a
big mistake. And I wrote many emails about this topic – as first, also answering to any of their unjust and unfair
email, writing I didn’t agree with them and their behavior at all.

The result is the Excel spreadsheet attached, a simple list of the trades they unilaterally decide to “adjust”: BRAVO!
On April, the 3rd, another strange thing happened: Mrs. Tess Nicholson sent me an email but it was signed by the
CEO, Mr. Robert Berkeley, that reads us in copy.

They, or he, closed the Elio Matacena’s file with the attached mail (“Vantage_FX_UK_Elio_Matacena.pdf”) with
these sentences:
1. We have informed the FSA of the current position and they have acknowledged our actions;
• Is it true? Did they keep you informed?
2. We have provided you with a detailed list of the trades that we deemed to be in breach of our Client
Agreement (20.5);
• Yes, they sent me the list (see attached excel file “102789.xlsx”), and I have rejected any of those with
my explanations, adding some examples, too.
• They “deemed to be in breach” of the agreement, they didn’t prove it at all.
• Did Vantage FX UK demonstrate that a 13 minutes long trades were “against” the Agreement? No, they
didn’t do it.
3. We have provided you with an explanation of why we believe these trades to be in breach, explaining the
identification of Arbitrage and clarifying other points, such as Profit & Loss calculations;
• Yes, they believe something. And I believe something else, completely different: I can not believe that
what they believe is stronger of what I believe, because I have provided them the ratio of my trades as
well as they have provided their explanations.
4. We have provided you with the opportunity to present any information or evidence that would prove that
these trades were not Arbitrage and we have invited you to provide us with specific details on your EA
provider and their strategies.
• First of all, they provided to inform me only, but gave no evidence at all.
• Second, if they accuse me, they have to prove it (but I got only “what they believe”).
• Third, I had no reason to give evidence about my EAs because they could steel my ideas as well as they
did with my money; because the concrete reason they could violate my copyright is based on Vantage’s
unfair behavior, exactly when they as first decided unilaterally to block the account and any withdrawal,
after some days they reversed the trades and only after they “gave me the chance to demonstrate”:
come on guys, I am not so silly!

I am ready to demonstrate to a third part, like a Judge or, better, a Court, what they ask as well as I am not guilty at
all, giving any evidence will be requested to me.

So, I have been scammed from them and want my money back and their behavior publicly stigmatized, censured
and condemned (that’s why I have put in copy the best English newspaper).

Waiting for your answer, I am ready to provide you more documentation (private and public) and to follow up any
request you will have for me.

Best regards,
Elio A. Matacena.


See attached PDF file for details about this email (I just printed it in PDF).

In the attached ZIP you will find the whole story and some document.

I suggest you all to write your compliant to the English press too, maybe this will help a bit.

My best regards,
Elio A. Matyacena

 

[victoryforex]

Contact the FOS again. There's also the FSA's replacement, the FCA. Get in touch with them too.

I've made a request of official proofs of the arbitrage and do you know what did they do?
They sent me a pdf file with our email ahahaha.

However this is my last email to them:

"The answer you gave me is just a resume of all problem, there are no proofs at all of the arbitrage.
Unfortunately this is not an answer but only a resume, and I did not receive any real proof, that's why I say that I'm going to open complaint to the FOS and FCA (that replaced FSA).
You deleted trades not in 24h but after months, this is against rules, so you will loose your unjustified war.
Last thing your are already loosing your unjustified battle just see here:
Scam Alerts Folder
Vantage FX | VantageFX.co.uk reviews and ratings by Forex Peace Army
Vantage FX | VantageFX.com reviews and ratings by Forex Peace Army.


you have made ​​a false step, God bless you.

This is my final email.

Bye."

 

[musketeer]

Contact the FOS again. There's also the FSA's replacement, the FCA. Get in touch with them too.

here is what they say...
quoted form here: Consumer helpline
"We do not investigate individual complaints – the Financial Ombudsman Service may be able to help with this. "

I am really ... meant what the "regulated" and "regulation" means... Seems just nothing!

 

[Pharaoh]

They said to complain to the FOS. In that case, go to the FOS and complain.

 

[bodgybrothers]

It is quite normal for the Financial Ombudsman to take first look at a complaint and then make recommendations to the government body. In most cases the FOS will deal with it to get the problem sorted. If the FOS receives many of the same complaints, the FOS will make a recommendation to the regulator to investigate and suspend any financial services license. In Australia, once a company looses that license they will not be able to operate. Usually court proceedings follow if the ACCC believe it is a case of fraud (that is, misrepresenting themselves to the government). Since the Australian system is modeled off the UK system, I would assume it will be exactly the same. The FOS will deal with your case, if the FOS gets many of the same complaints they will make a report to FCA and have them investigated.
This is why everyone who has an issue needs to raise it with the FOS. Remember, my Australian complaint will also be forwarded to the UK FOS office since enfinium operate in both commonwealth countries. So please, send your complaints into the FOS. Don't complain about the 60-90 days they take to process it, I know if they get many complaints it will be processed in less than 2 weeks.

Enfinium makes sure not to screw you till they are 100% sure you can't do any charge backs. This is their policy and why it is harder to get money back from them. And because they hold a valid financial services license, the banks will not be as willing to charge back anyway.

It is a pretty deep scam that is 100% supported by the commonwealth governments, accusations that a government is allowing ponzi schemes will not go unlooked. This is why I am trying to get some media attention to this. This is a global problem, and just like in the early 1900's, bucket shops still exist, just under the new name of "market makers".

 

[Elio Matacena]

Can you confirm us about the right email where to send the complaints? I used this one (as written above here, in my previous post): "complaint.info@financial-ombudsman.org.uk", is it the right one?

 

[Pharaoh]

For the UK, here's the FOS Complaints page:

how to complain ? the first steps

For Australia, it's here:

How to lodge a dispute :: Primary