Problem Withdrawal failure with FOREX-METAL

[yatti]

Good news, they sent me an ATM debit card!

But it was just a fake. They do not send my money to the card after all.
All I got is an empty debit card...

A Japanese guy contacted me that he was also deceived by Forex-Metal.
Please contact me if anybody is scammed as well. Let's spread this issue as broad as possible.

Forex-Metal seems to being sponsoring Forex-Sensation EA.
Forex Sensation Rules and Terms
I want to ask them where they prepared the sponsoring fee.

 

[Pharaoh]

Report this to whatever company runs the debit card service.

Contact Forex-Sensation and let them know how their sponsor is treating you.

 

[yatti]

Thanks Pharaoh,

I did both of them. Let's see what will happen next.

 

[yatti]

Unfortunately, my email was regarded as "blackmail" by them.
They again threatened me to stop posting: otherwise, the issued debit card will be canceled and no withdrawal will be processed, they said.

I do not agree that saying facts is "bad-mouthing".
IFSC, the regulation organization in Belize, warned them but they neglect it.

Here is their response to my email:
------------------------------
Dear yatti,

No amount of blackmail will bring you any closer to the resolution of your issue. If fact on the opposite, the more negative reports you are trying to make the less likely that we would be able or willing to find a compromise. Don't you understand this simple logic?
We issued you with the debit card in good faith, under condition that you will stop your activity, thus allowing us to reach a compromise. If you want us to do that, you need to stop bad-mouthing our company and remove all the negative posts that you have already made.

Once the negative comments and posts are removed we will discuss with you how to resolve this issue. Perhaps the debit card will be used as one option, however if you complain to the debit card company again, the card will be cancelled by us immediately. Simply because the card processing company has nothing to do with your alleged claim with us.

With all due respect, please try to understand that by your activity you are doing damage only to yourself.

Regards,
Forex-Metal Payments Department

 

[Master Yoda]

The "Simple logic" according to Forex Metal is we will not pay you the money we owe you, if you will not delete the justified complaint in FPA.

The only damage I see here is for Forex Metal, they are getting a negative publicity here and they are loosing more money than the amount they scammed the trader. A company that threatening its customers over and over is not a company I wish to deal with, and defiantly won't recommend for anyone to trade with. Wake up Forex Metal, this is the social media era!

One last thing- since when the payments department are dealing with threats , isn't the job of the account manager, retention managers of the company management?

 

[Pharaoh]

Does this mean that all traders need to be warned that justified complaints against Forex Metal will be used as excuses to keep not paying money owed?

 

[yatti]

>The only damage I see here is for Forex Metal, they are getting a negative publicity here and they are loosing more money than the amount they scammed the trader.

I agree with this. My money is still kept by Forex-Metal, so there is no extra damage to me.
As for the payment dept., I am not sure why they have the right to deny my request. Anyway, nobody clarify her/his name. So it's tough to tell who is in charge of this issue.


>Does this mean that all traders need to be warned that justified complaints against Forex Metal will be used as excuses to keep not paying money owed?

According to their "simple logic", traders having pending withdrawal must not post that fact, because it is a negative comment to Forex-Metal. If the traders post somewhere, their money won't be back until they delete all their posts.
Posting fact seems to be very bad manner to them. Deleting the post is just one of the conditions to get back their money. They have to earn the "compromise" of Forex-Metal. What a surprising story.

 

[Pharaoh]

Why am I not surprised that Forex-Metal is blackmailing you?

 

[yatti]

Surprised again.

Forex-Metal deleted the statement of their license on IFSC
after they received the warning from IFSC instead of dealing with my withdrawal request.

It can be seen on wayback archive, while it's deleted in current FAQ page.
Forex Trading | CFD Trading | Trading on the Forex | Currency Trading | Forex News | Forex-Metal (archive, top of the questions)
https://forex-metal.com/home/faq (current)

However, they still state that "Forex-Metal is a licensed and regulated FX and CFD broker." on their webpage.
I would like to ask them by whom they are licensed.

 

[Master Yoda]

Contact the IFSC and report that so is for econsumer.gov - Your site for cross-border complaints.