What happened to EMPFX?

PipStar

Sergeant
Messages
223
Is anyone aware what happened to this broker? See their email below.

.............
Dear Client,

In view of EMPfx ceasing its activities as of Sunday 25th of October 2009, all open positions will be closed and trading will be closed and become inactive as of today. In order for us to proceed as such, please send us your complete bank details for us to proceed with your wires and settle your existing balance. Please fill the attached withdrawal form and send back to us by email to: info@empfx.com

The process will take up to 6 weeks, where by that time accounts will be settled.

Please note that EMPfx and E-Money Power Financial Academy are two completely separate entities, and ceasing activity in one doesn’t affect the other.

Please disregard this message if you have already sent us your withdrawal form.

Kindest Regards!

EMPfx Team!

1461 A First Avenue, #360

New York, NY 10021-2209

Tel: +1 305 600 0854

Fax: +1 315 693 1111
 

sandor

Recruit
Messages
12
EMPFX is a scammer?

I have received this email too. I don't sleep since. I'm afraid they suck our money! Please give oneself up, who was client of EMPfx!
 
Messages
6
empfx scam

Hello

I have big money at empfx and not get any news from them.I sent several emails and tried to call them on their telephone numbers but they do not answer to me.I am planning to call the police at german swiss and lebonan.Would you like to cooperate with me.How much money do you have with them or etc... ?
 

PipStar

Sergeant
Messages
223
It is surely worrying and until they send back the money to traders there will be some suspicion. It is also strange that they just cease their activities almost overnight and close all traders positions without much warning. I wonder how many people have been adversely affected by this. I just hope that we are not looking at another Crown Forex situation here!
 

Pharaoh

Colonel
Messages
19,694
I'd think the best thing to do is to fill out the withdrawal forms. If they are regulated, now would also be a good time to ask their regulator what's going on with them.
 

clem699

Sergeant
Messages
147
I'd think the best thing to do is to fill out the withdrawal forms. If they are regulated, now would also be a good time to ask their regulator what's going on with them.
Pharaoh is right.The best and only sensible thing to do now is to fill the so-called form and wait for the outcome of settlement proceedure.Regulation can be of help.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,497
The FPA made an inquiry with EMPfx and got this response...

Yes we have been bought by another company that is not interested in retail forex but interested in introducing other financial products. We emailed all our members and informed them that we will be ceasing activity in "forex trading" and requested they send us their wiring instruction to send them their money back up to the last penny. The wiring back is happening on first come first serve bases and every day we are processing hundreds of wires. The whole process if our calculations are right should not take more than 6 weeks for everyone to get his money back. In summary to answer your main concern, we are paying everyone back as we are real and not a scam.
If anyone here does get their money, please post about it in this thread.
 
Messages
6
empfx ceasing activity

Hello

I have been consistently sending emails and calling them from their different numbers but get no response from them.Their all telephone numbers are closed or not responding.They are unreachable at the moment.As I see they reply your email but if they still read the emails why they don't reply their customers emails !!! This is not a behaviour of "Not scam" company ...

I think this guy whose name Ziad Melhem(owner of the Empfx) is trying to take time to make easier for himself to escape.Please tell us(the customers of Empfx) that in which way did you able to contact with them.Did they provide you any telephone numbers ?

They said that the Emoneypower Financial Academy is not affected by this but as I tried to reach them from telephone numbers or emails they have not send any reply or respond to telephones.

As the management of FPA please contact with them and try to convince them to reply their customers emails or I am planning to give the necessary documents(bank swifts,Trade reports,Withdrawal forms,Email copies etc...) to the Interpol.



The FPA made an inquiry with EMPfx and got this response...



If anyone here does get their money, please post about it in this thread.
 

PipStar

Sergeant
Messages
223
The FPA made an inquiry with EMPfx and got this response.......

.........The wiring back is happening on first come first serve bases and every day we are processing hundreds of wires..........

If anyone here does get their money, please post about it in this thread.
Thanks FPA for being on the ball as usual.

So far, I don't think that they have sent any wires at all. They state to FPA first come first serve and everyday they are processing hundreds of wires but I can tell you that because of my time zone location I would have been one of the first to send my withdrawal form and have received nothing after a week.

I'd be interested to hear if anyone has received their funds back.
 
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