Vantagefx.co.uk

VANTAGEFX.CO.UK is a SCAMMER?

  • yes

    Votes: 15 93.8%
  • no

    Votes: 1 6.3%

  • Total voters
    16

Pierre3

Private, 1st Class
Messages
59
I live in Gibraltar and I'm on holidays in Italy

I have traded with vantagefx.co.uk for 8 month.
3 days ago I requested a withdraw for 2000 GBP and some hours later I received the following email
View attachment vantage email.txt

They frozen my account only because I made some profits, and now I cannot trade any more and my withdraw has been stopped

This is against the FSA RULES and I think the true is they are running out of money
 

Pharaoh

Colonel
Messages
19,959
Look at all the complaints here and in the reviews for Vantage and Gomarkets.

Contact Vantage and ask them to join the public discussion here in this thread. Tell them that everyone wants to know why any sort of investigation would take more than a few days.

You should also contact the FOS in the UK to discuss your options.
 

instars

Recruit
Messages
3
I think that all this reference to some mysterious liqudity providers is pure SCAM, and must be prosecuted by LAW ..... if broker cannot provide fare trading environment to all participants, it is not broker, it is worse than Casino, its good that through FPA we can share these FOREX bucketshop problems, most important that I see these so called brokers don't care about client's money, but some mysterious liqudity provider's profit, we together can bring these dark business practices to light, get banned them by authorities, and stop making fools from unexperienced traders
 

Pierre3

Private, 1st Class
Messages
59
Here my last email sent today to VANTAGEFX.CO.UK


Dear Jay,

You have to show me evidence the prices I have bought or sold pairs are out market.

All the prices I have traded were in your platform and were not outside the range; then they are valid trades; I have controlled in your platform and verified some trades and I have also verified some trades I made manually.

I have only traded news with proprietary EA or straddle EA; I never made what you call "arbitrage" and I can prove all the price traded were the prices existent in your platform.

Only for example, you have cancelled a trade USDSEK I made myself the 6 september 2012 number 3924512 with a profit 339 GBP; I traded this pair myself.

Then I cannot accept you have cancelled my profits and your statements

Regards

P Binelli
 

chitak

Sergeant
Messages
133
I have had the same experience, I already posted in another thread and started my own. I have had trades cancelled with Vantage as well as GoMarkets

I have tried contacting Go markets, as they also cancelled my trades, bigger amount there. Go and Vantage are the same company, same exact emails were sent to me from Go and from Vantage. I haven't had any success getting GoMarkets to reply.

I haven't even tried getting in touch with Vantage.

Honestly it's pointless to try and recover any money in good faith, all that is left to do is to complain to regulators and to seek legal advice possibly.

Also FPA please label these two companies as scammers so we can help new traders stay away.
 

Pharaoh

Colonel
Messages
19,959
Contact ASIC and let them know what's going on with GoMarkets and Vantage Fx Australia. In the UK, things are confusing. The FSA just got replaced by the FCA. I'm not sure if the FOS is still operating or not. Try to contact FOS and FCA.
 

Pierre3

Private, 1st Class
Messages
59
This is my last post to
TO: complaint.info@financial-ombudsman.org.uk ; firm.queries@fca.org.uk ;
CC:Jay Mawji ;Matthew Kent ; robert.berkeley@vantagefx.co.uk ; help@timesplus.co.uk ; newseditor@independent.co.uk ; talkback@the-sun.co.uk ;
Subject:FINANCIAL FRAUD BY VANTAGEFX.CO.UK

Dear Mrs. / Mr.,

I must apply a complaint against Vantage FX UK (https://www.vantagefx.co.uk/) because they unilaterally decided to
write off all my gains after 7 months and 21 days. During this time, they have sent me the “Daily Confirmation” as well
the “Monthly Statement” that are a confirmation for both broker and trader for the trades.

They still don’t want to give me back my money.

Vantagefx.co.uk sent me an Excel spreadsheet 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 10 minutes: it’s a normal scalping . In fact,
only as example, they cancelled a trade USDSEK I traded the 6 september 2012 number 3924512 with a profit 339 GBP;
I traded a new event

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.

I am an Gibraltarian resident that have opened a Broker account with Vantage FX UK on 2012/08/01 depositing
GBP 1,000.00. My last trade was done on 2013/03/19. The result was a gain of 4003 GBP.

As you can see from the attached statement, I have used different scalping strategies and you can find trades lasting 10 minutes.

The trading activity started on 2012/09/06.

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 several months the broker decides to make a “Cash Adjustment
- P&L” cutting any positive trade? Unbelievable!

So, they have stolen me 4.003 GBP.

By the way, I wrote them suddenly and wrote they couldn’t do it, they couldn’t steal my money.
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.

So, I have been scammed from them and want my money back and their behavior publicly stigmatized, censured
and condemned.

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

PIETRO BINELLI

(1 file attached)
 
Last edited:

Pharaoh

Colonel
Messages
19,959
only as example, they cancelled a trade USDSEK I traded the 6 september 2012

Cancelling a trade that's over 6 months old! If the FOS permits this, I'm going to have to consider UK regulation to be completely worthless.
 

Pierre3

Private, 1st Class
Messages
59
This is reply of the FOS



Our Ref: .ISS10776461/PC187713

Dear Mr Binelli

Thank you for your email sent on 8 April 2013 regarding a complaint you have escalated to the Financial Ombudsman Service (FOS) in respect of VantageFX.

I would like to confirm as at the 1st of April 2013 the Financial Services Authority (FSA) ceased to exist and was replaced by two different organisations responsible for different aspects of regulation. Your query is being responded to by the Financial Conduct Authority (FCA). To find out more about the differences please visit our website:

Home

I can confirm that you have taken the correct steps in referring the matter to FOS if the firm have been unable to resolve the dispute. Turning to how we have used your information I can confirm that this has been forwarded to the team within the FCA responsible for the supervision of the firm and they will determine if any regulatory action needs to be taken. Please bear in mind that we are bound by certain confidentiality restrictions within the Financial Services & Markets Act (FSMA) that prohibit us from disclosing if we are investigating your concerns or not. If we do take action then a notice will be issued via our website and I have attached a link to this for your records:

Outcomes and Notices

I trust this information is of use.

Yours sincerely



Peter Jones
Customer Contact Centre
Financial Conduct Authority
Consumer Helpline: 0800 111 6768
Consumers
 

Pierre3

Private, 1st Class
Messages
59
This is reply of the FOS



Our Ref: .ISS10776461/PC187713

Dear Mr Binelli

Thank you for your email sent on 8 April 2013 regarding a complaint you have escalated to the Financial Ombudsman Service (FOS) in respect of VantageFX.

I would like to confirm as at the 1st of April 2013 the Financial Services Authority (FSA) ceased to exist and was replaced by two different organisations responsible for different aspects of regulation. Your query is being responded to by the Financial Conduct Authority (FCA). To find out more about the differences please visit our website:

Home

I can confirm that you have taken the correct steps in referring the matter to FOS if the firm have been unable to resolve the dispute. Turning to how we have used your information I can confirm that this has been forwarded to the team within the FCA responsible for the supervision of the firm and they will determine if any regulatory action needs to be taken. Please bear in mind that we are bound by certain confidentiality restrictions within the Financial Services & Markets Act (FSMA) that prohibit us from disclosing if we are investigating your concerns or not. If we do take action then a notice will be issued via our website and I have attached a link to this for your records:

Outcomes and Notices

I trust this information is of use.

Yours sincerely



Peter Jones
Customer Contact Centre
Financial Conduct Authority
Consumer Helpline: 0800 111 6768
Consumers
 
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