I had opened an account with XForex – Online Foreign Currency Trading and Forex Exchange which is a FX broker having offices in Cyprus and Canada. At the time of opening the account, I had provided them with a copy of the Bank statement, passport copy and a utility bill. Since then I have been buying and selling currencies with them. To fund the margin in the Xforex account, I had used one of my Credit card, a copy of which was also faxed over to them.
Since Novemeber 08 when I had opened the account , until now I made profits from buying and selling currencies with them. While I was making money, I was withdrawing sums which I had deposited with them using my credit card. They were all returned back to my credit card. However, in the last week of Jan I had asked for withdrawing a sum over and above the sums deposited using credit cards. I filled in the withdrawal request form and provided my bank account and sort code for them to credit these funds using Bank Wire Transfer.
Somehow, it took over a week and I did not receive any funds from them. I used to communicate with them on their online chat support with the relevant account manager asking for the funds to be credited. The reason they gave me was that their Bank in Cyprus was having some problems in wiring the funds over to UK and hence they are going to try to wire it via a Bank in Israel. I waited until Monday 2nd Feb to see if the funds arrive in my bank account. Finally on Monday the funds came in my bank account and in 24 hours they were immediately taken out from the same bank account. This is so unusual of them to do. The fact that they send money to my bank means it was my money that they do recognise and then they took it off. I think they wanted me to deposit more money with them on the day when they transferred money via wire to my account and then when I did not they reclaimed the funds back. This is clearly an wire fraud on their part.
In the meantime since I had all the profits sitting with the broker in the xforex account with them, they stopped my access to the account. On asking them on chat they claim that Online Security support team will be contacting me shortly to explain why did they stop access to my account or why did they take money out from my bank account. No one has contacted me and they have stopped my access to the account by which I can withdraw the funds.
My concern is that the Broker has committed internet fraud and does not want to give the profits that I have made over the course of my trades with them for the past 3 months.
I have a excel download of my account statement showing every trade that I made and all the withdrawals I had asked at an Action Number level. Also, I have the transcripts of my chats with them in an Acrobat format.
The Agreement on their website is below :
Forex and Currency Trading, Online Foreign Exchange Software
Here they clearly state that Trouvia Investments Limited, a private company registered under the laws of Cyprus having its registered office at Agias Fylaxeos & Zinonos Rossidi 3rd Floor , Suit no. 5. Limassol 3282
Please check into this company and avoid them from conducting fraud with any of the others. I think it should be shut down completely since it robs people of their money. Let me know if you need any other supporting evidence around my transactions with them including account statements or Chat transcripts.
Please let me know whats the best way of pursuing this case, so that I can get my hard earned money back
Since Novemeber 08 when I had opened the account , until now I made profits from buying and selling currencies with them. While I was making money, I was withdrawing sums which I had deposited with them using my credit card. They were all returned back to my credit card. However, in the last week of Jan I had asked for withdrawing a sum over and above the sums deposited using credit cards. I filled in the withdrawal request form and provided my bank account and sort code for them to credit these funds using Bank Wire Transfer.
Somehow, it took over a week and I did not receive any funds from them. I used to communicate with them on their online chat support with the relevant account manager asking for the funds to be credited. The reason they gave me was that their Bank in Cyprus was having some problems in wiring the funds over to UK and hence they are going to try to wire it via a Bank in Israel. I waited until Monday 2nd Feb to see if the funds arrive in my bank account. Finally on Monday the funds came in my bank account and in 24 hours they were immediately taken out from the same bank account. This is so unusual of them to do. The fact that they send money to my bank means it was my money that they do recognise and then they took it off. I think they wanted me to deposit more money with them on the day when they transferred money via wire to my account and then when I did not they reclaimed the funds back. This is clearly an wire fraud on their part.
In the meantime since I had all the profits sitting with the broker in the xforex account with them, they stopped my access to the account. On asking them on chat they claim that Online Security support team will be contacting me shortly to explain why did they stop access to my account or why did they take money out from my bank account. No one has contacted me and they have stopped my access to the account by which I can withdraw the funds.
My concern is that the Broker has committed internet fraud and does not want to give the profits that I have made over the course of my trades with them for the past 3 months.
I have a excel download of my account statement showing every trade that I made and all the withdrawals I had asked at an Action Number level. Also, I have the transcripts of my chats with them in an Acrobat format.
The Agreement on their website is below :
Forex and Currency Trading, Online Foreign Exchange Software
Here they clearly state that Trouvia Investments Limited, a private company registered under the laws of Cyprus having its registered office at Agias Fylaxeos & Zinonos Rossidi 3rd Floor , Suit no. 5. Limassol 3282
Please check into this company and avoid them from conducting fraud with any of the others. I think it should be shut down completely since it robs people of their money. Let me know if you need any other supporting evidence around my transactions with them including account statements or Chat transcripts.
Please let me know whats the best way of pursuing this case, so that I can get my hard earned money back