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Xforex Issue - RESOLVED

Discussion in 'Scam Alerts' started by tinyt00fy, Apr 13, 2011.

  1. tinyt00fy

    tinyt00fy Private

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    i opened account with Xforex with 1k and i traded with them for a month making profits when they suddenly blocked my account and said i am scalping ,
    which doesn't make sense as they have a minimum 2 minutes to close order policy ,
    and when i contacted them they said wait for the investigation i waited for one week and they sent me email that i broke their rules and they are taking my money .
     
  2. Pharaoh

    Pharaoh Colonel

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    Do you have a copy of your trading records showing the opening and closing times of your trades?

    A two minute rule indicates that it might take them up to 2 minutes to get around to passing your trades onto the real market.
     
  3. tinyt00fy

    tinyt00fy Private

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    Unforunately i don't have this ,
    they closed my account suddenly and without early notice + they don't send email daily confirmation
     
  4. RahmanSL

    RahmanSL Major

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    Obviously, you should be able to check in your trading platform under "Account History". Point your cursor on the column "Profit/Loss-Credit-Deposit-Withdrawal" (grey colour column) and Left click. Select/Click on "Save as Detailed Report" and you should get complete transactions record.

    If your "Account History" has been deleted by your broker, then you should be able to do this to get your trading records from your computer itself.

    Go to "Start"..."All Programs" ....look for your brokers name and click it...then select "Journals".
    A list of trading records should be contained there where you can download one by one according to dates.

    Hope that helps, and good luck with your case.
     
  5. tinyt00fy

    tinyt00fy Private

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    Thanks RahmanSL for your concern but my account with Xforex was not MT4 it was web platform and they changed the account login info and i can't log in anymore so it's gone .
     
  6. RahmanSL

    RahmanSL Major

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    Web-based trading platform?..and without daily trades confirmation records?...Haiyah! my friend, that would be what they would say: You are up the creek …left high & dry..in a fix…in dire straits…

    You said you have been trading with that broker for 1 month. If they don’t send you daily trades confirmation, didn’t you ask them why? Oh well, that would be all water under the bridge...too little too late...bla-bla-bla..no point in all that now after the event;right?

    Only thing left for you to do is to try to present your case here at the FPA (or at where ever your broker is registered/licensed) and hopefully they can get your two-bits broker to come up with your trade records. Then at least you will have a fighting chance.

    It's a bitter lesson to have to learn, but at least you will be wiser the next time round;right?

    Good luck with your claims!
     
  7. tinyt00fy

    tinyt00fy Private

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    Dear FPA ,

    would you please freeze my scam alert and review , as someone contacted me from Xforex and we are trying to reach agreement and i will update everyone when i have finished this issue .

    Thank you
     
  8. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    Please see the note in your Court Case thread in the Court Case Preparation Folder.

    You should also have an email from Ken about your issue.

    In the meantime, I'm asking that no one besides tinyt00fy post in this thread. I'll edit this comment out if the situation changes.

    Now we all wait to see if the issue gets resolved or not.
     
  9. tinyt00fy

    tinyt00fy Private

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    Agreement

    i would like to withdraw my last recent reviews about Xforex as we reached an agreement about giving me a percentage of my profits that i am satisfied with .
     

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