xForex.com user from Malaysia

cptan82

Recruit
Messages
6
After the research from world wide net, I just realised xForex.com have such dispute, I am going to withdraw but I am not sure will I face the same problems like the others who file complaints here, My xforex username exactly same as FPA username.

Update:
I had asking few questions through live chat with xforex customer service (CS) - Olivia, regarding withdrawal request fill up,

The question is : What should I put for Branch Number for Bank Name if I am not sure if branch have number instead of using area name.
The CS answered me after 2 minutes : put 11111
I ask again : How about left it blank?
CS answered again : u must put 11111
I reply as : Ok, thanks

I smell something wrong already, I call to my bank to confirm the branch number, yes it do have but not 11111, I ask my bank what if I fill with 11111, my bank answered me the telegraphy transfer won't success.

So, I am here to asking for help right now to prevent unwanted delay for withdrawal to seem like fooling by the CS, I do suspect my account manager too, his name David Knight make me think twice is this a real name or nick name. I remain silent to contact the account manager, I am hereby to ask for help for smooth withdraw with xforex without scammed by invalid account manager & CS.

Regards
cptan82
 
Last edited:

Pharaoh

Colonel
Messages
19,892
The best option is to see if you can get a 3 way conversation going between you, your bank, and xforex.
 

cptan82

Recruit
Messages
6
First thing I need to know is, look like my bank recognized xforex as valid forex company, the 1st deposit I didn't received a call for confirmation after top up my account. So, should I stilll use the default withdrawal request instead of send an email to compliance@xforex.com ?
 

BigT1

Sergeant Major
Messages
951
Hello cptan82,
.
The broker is to return the money through the same path from which it was received.
How did you pay?
If you sent money by bank transfer, use the same account and bank branch number indicated on your send receipt.
If you paid by credit card, then you need to contact the card company and register your concerns with them and ask for guidance.
Same for PayPal, Moneybookers, etc.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
 

cptan82

Recruit
Messages
6
Hello cptan82,
.
The broker is to return the money through the same path from which it was received.
How did you pay?
If you sent money by bank transfer, use the same account and bank branch number indicated on your send receipt.
If you paid by credit card, then you need to contact the card company and register your concerns with them and ask for guidance.
Same for PayPal, Moneybookers, etc.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
Hi, the only way provided by xforex is withdrawal request with the form as below :

Withdrawal of funds from your account is possible only if you have sent the following documentation:
1. Proof of Identification: Copy of your ID or passport
2. Proof of Residence: Copy of a utility bill under your name not older than 3 months (i.e., bank statement, water, electricity)
3. Proof of Credit Card Ownership: Copy of both sides of the card you used to deposit funds with. Must be under your name and signed at the back side
To prevent any unnecessary delays, please write your Username & Country in the subject line of your email and send it to billing@xforex.com or fax it to [+44-2035142365]

Withdrawal requests take up to five business days to process. Delays beyond our control might occur due to third party withdrawal payment methods (i.e. credit card Company, the wiring bank or intermediate banks which delay transfers, in extreme cases, for up to 3 weeks).

Withdrawals shall only be executed via the same venue of deposit. This means that funds deposited with credit card, will be credited upon withdrawal to the card you have deposited with, up to the limit of the deposit amount. Any excess funds will be wired to your bank account, according to the details you provide in the fields below.

Your account value is currently at in USD value.

You are allowed to withdraw up to in USD value.

Please note that if you are exposed with open positions, 0.25% of your account value will first be allocated as margin and the rest will be available for withdraw. Note, that during market close hours 0.5% of your account value is allocated as margin.

Please complete all the fields below:
Amount:

Bank Name

Branch Number

Bank address

Country

Beneficiary name

Account Number

IBAN/ABA/ BSB/ Routing Number

Swift code

Beneficiary name must be the Xforex account holder only. Xforex will not process payment via a third party.
Is there any different between telegraphy transfer & Credit card ?
 

BigT1

Sergeant Major
Messages
951
Hello again cptan82,
.
The broker is indicating they must return the money through the same path from which it was received, as I stated to you. This is normal.
You failed to tell us how you paid, as I requested.
.
If you originally funded your account by a bank wire transfer (telegraphy), use the same account# and bank branch #.
If you paid by credit card, they must return money to you through the credit card, but no more than you originally deposited thru it.
If you made profit, and your widrawal request is larger than your original deposit, the first transfer must go thru the Credit Card, then the rest will go to your bank, via wire Transfer, as you specify.
These procedures are required to prevent Money Laundering; your firm must comply. Follow the procedure.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
 

cptan82

Recruit
Messages
6
Hello again cptan82,
.
The broker is indicating they must return the money through the same path from which it was received, as I stated to you. This is normal.
You failed to tell us how you paid, as I requested.
.
If you originally funded your account by a bank wire transfer (telegraphy), use the same account# and bank branch #.
If you paid by credit card, they must return money to you through the credit card, but no more than you originally deposited thru it.
If you made profit, and your widrawal request is larger than your original deposit, the first transfer must go thru the Credit Card, then the rest will go to your bank, via wire Transfer, as you specify.
These procedures are required to prevent Money Laundering; your firm must comply. Follow the procedure.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
Hi BigT1,

The 1st deposit is paid by credit card, the forex account only activate after the submission of Passport / Credit card front and back photocopy with signature & hidden 1st 14 digits of numbers together with CVC hidden as well / Utilities billing address.

I made profit of 52% of my deposit from credit card. Does this means that 50% - 51% will only able to withdraw and wire transfer to bank account?

BR
cptan82
 

BigT1

Sergeant Major
Messages
951
Hello cptan82,
.
Your withdrawal must be divided into two parts.
Withdrawal Part#1 - returns your deposit to your credit card
Withdrawal Part#2 - returns your profits to your Bank
.
AI
 

cptan82

Recruit
Messages
6
Should I had 3 way conversation going between me, my bank, and xforex to fill up the withdrawal request form provided ? That CS - Olivia is ridiculous for asking me filling bank branch numbers : 11111 , I would not go further with her.
 

BigT1

Sergeant Major
Messages
951
A 3-way conversation could not hurt, and will put the broker on the spot; but you must request the withdrawal only to the proper account number and branch number that are supplied to you by your bank. if you agree to use any other number, you are setting yourself up for a later claim by the broker that the transfer is lost. This is a common tactic by scam brokers who have no intention of returning your funds.
Stick to your guns, and only return the withdrawal form with the proper information.
.
AI
 
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