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.
Just the english show that their is something not right, it sound so unprofessional,...."we are paying everyone back as we are real and not a scam" which professional send out an official letter like this??
E-Money Power (and/or EMPFX) with an alleged address in 18 Avenue Louis-Casai, 1209 Genève has been listed on our list of unauthorized institutions (without registration in the Swiss trade register). This list, published under the column enforcement: FINMA - Unauthorised institutions (black list), shows companies and persons who seem – due to the presentation of their activities in or from Switzerland – to perform activities that fall under the supervision of FINMA without possessing the necessary authorisation to do so.
This company has no physical presence in Switzerland. Therefore we have no further information about them and obviously FINMA has not opened a bankruptcy procedure on a firm which does not even exist in Switzerland.
We regret but cannot provide any further assistance.
Eidgenössische Finanzmarktaufsicht FINMA
Autorité fédérale de surveillance des marchés financiers FINMA
Autorità federale di vigilanza sui mercati finanziari FINMA
Someone that my friend knows actually got back his money from empfx after they sent out the email indicating that they were closing down, he had $2000 with them, He had sent out his request after me and my other friend though which is strange seeing as they said that it was going to be a first come first serve basis.
I personally have $13,000.00 US with them, and I had placed my withdrawal request on October 18th 1 week before they even closed down. I urge FPA to keep on this issue please, seeing as they gave us assurances that they will repay their clients.
I also notice that in the responce FPA got he did not mention which company bought them out, I would like this information because until we get out money back it would be wise to keep track of their activities as close as possible.
Anyone out there with any information that comes your way re this issue please post it for the benefit of others who are going through this horrible ordeal.
....Just to bring more information to the community.
I opened an account whit EMPFX in March...using the old platform....after few days they start to requote me every time, so I decided to use them only for position trading.
I request the withdraw on october 26 of my 12.532,16 USD by fax and e-mail
noting received yet....hope to give you all good news soon.
As it has been over 2 weeks and there is no any sign of real person get his money back.We should do something.
As I understand the only person who can reach any Empfx staff is David . And as the David says they are located in Egypt.So I think they are ready to escape after sometime and maybe the staff at the Egypt do not know any real thing about customer funds.Because this company is a one person company and the owner of the Empfx whose name is Ziad Melhem is not reachable at the moment.May be he escaped already and the people who emails us or reply David are the people who are not sure about what is going on.
So the thing we should do is to visit the Egypt address where "so called " Emoneypower Academy is located and learn the real things about what is going on.If they cannot answer to us then the Egyptian customers should call the Egypt police.The only way to catch the Ziad Melhem is that.
And for david please give me your telephone number I have to talk with you.
I just wonder that why all people are stopped saying something about issue.
Is there anybody who can get his money ?
Anybody from Egypt do not read this forum ?
I see that 7-8 different persons are writing here and average amount that is lost is 10000-15000 usd per each...So why is that silence ???
The only customers are us ?
They said that they have hundreds of customers where are they ?
Are there any egyptian forum which I can reach those other customers ?
And is there anybody who can contact with any Empfx person ?
I tried lots of times to communicate with them but the number which belongs to them are not answering.
If anybody can contact with them and get positive or negative answer please share them in this forum.
I am planning to prepare documents and records to give the interpol.If anyone who wants to contact me please write something to this forum....