I posted a new thread to describe additional explanation to the thread posted by yokebeto on March 2, 2009 about Velocity4x(Broker).
As you can see the thread, we each 20 people have deposited our money 52,641.73 USD in total during January 2009 to February 2009.
And we have done a trade many times using EA mainly applicable to EUR/GBP currency pair, and made good profits amounted to 82,361.84 USD(Total ending balance is 135,003.5 USD).
We believe that these trades were absolutely legal and all profits and initial deposits are completely belongs to us.
But suddenly, our accounts had been frozen.
We required them to explain the reason for account freeze.
They explaind to us by e-mail that they have to be audited by external bank which cover their orders, and we have to wait until the audit will be completed and get a result of audit.
We had waited, but suddenly again, out account were invalidiated and all balances were reset without our agreement. The results they finally communicated to us were ridiculous and too bad to be accepted.
Their explanation to us communicated through e-mail is as follows.
"Our risk control department of made a conclusion that all your profits were made due to bad condition of our system or communication line, wrong pricing far apart from the prices actually should be, delay of communication.
So, we decided that your trades are invalid, and your account is reset to initial deposit amount, and your account will be closed, after that your initial deposit will be paid back to you."
But as of today, they have not paid our money back even our initial deposit.
To make matters worse, there are people who only made a deposit and made no trade at all. thier accounts were also closed and money have not paid back.
In addition, they are still operating as normal, quickly reply to e-mail of open new accounts, but they have not replied to our withdrawal request at all.
We can not accept such a story.
We have to punish velocity4x and take a action not to have a new victim.
We want FPA to punish them and want NFA, CFTC, FCM properly regulate all forex blokers in U.S. without exception.
We can prepare necessary documents to prove the facts above.
Thank you for your kind help.
Best Regards,
As you can see the thread, we each 20 people have deposited our money 52,641.73 USD in total during January 2009 to February 2009.
And we have done a trade many times using EA mainly applicable to EUR/GBP currency pair, and made good profits amounted to 82,361.84 USD(Total ending balance is 135,003.5 USD).
We believe that these trades were absolutely legal and all profits and initial deposits are completely belongs to us.
But suddenly, our accounts had been frozen.
We required them to explain the reason for account freeze.
They explaind to us by e-mail that they have to be audited by external bank which cover their orders, and we have to wait until the audit will be completed and get a result of audit.
We had waited, but suddenly again, out account were invalidiated and all balances were reset without our agreement. The results they finally communicated to us were ridiculous and too bad to be accepted.
Their explanation to us communicated through e-mail is as follows.
"Our risk control department of made a conclusion that all your profits were made due to bad condition of our system or communication line, wrong pricing far apart from the prices actually should be, delay of communication.
So, we decided that your trades are invalid, and your account is reset to initial deposit amount, and your account will be closed, after that your initial deposit will be paid back to you."
But as of today, they have not paid our money back even our initial deposit.
To make matters worse, there are people who only made a deposit and made no trade at all. thier accounts were also closed and money have not paid back.
In addition, they are still operating as normal, quickly reply to e-mail of open new accounts, but they have not replied to our withdrawal request at all.
We can not accept such a story.
We have to punish velocity4x and take a action not to have a new victim.
We want FPA to punish them and want NFA, CFTC, FCM properly regulate all forex blokers in U.S. without exception.
We can prepare necessary documents to prove the facts above.
Thank you for your kind help.
Best Regards,
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