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Zulutrade/AAAFX is a scam

Discussion in 'Scam Alerts' started by Keith Garrod, Mar 6, 2011.

  1. Keith Garrod

    Keith Garrod Recruit

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    I deposited money with AAAFX in order to trade with Zulutrade - the two of them seem to be the same company.

    The signals I had chosen from Zulutrade did not perform on my live account so I decided to withdraw my funds.

    AAAFX refused to refund the funds to the credit card that I used to deposit them - WHY?

    They asked me to provide bank account details and withdraw the funds to my bank account. I provided the required details.

    After ten days of making a withdrawal request on the website, nothing had happened, so I enquired with the 'live chat' support line. They said there was no problem but it would just take some more time.

    I enquired every day for the next few days. Eventually I was told that I must resubmit images of my credit card and a copy of my credit card statement. I was told that this is a 'new requirement'. They hadn't bothered to inform me of this requirement.

    I had already (reluctantly) uploaded images of my card and am not prepared to supply a copy of my bank statement to them because they are clearly dishonest and I am concerned about the possibility of identity theft.

    They refuse to return MY MONEY to me.
     
    #1 Keith Garrod, Mar 6, 2011
    Last edited: Mar 6, 2011
  2. aaafx sales

    aaafx sales aaafx.com representative

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    Dear Sir

    During the last 2 months, credit card fraud is taking off. Allied wallet does not offer withdrawal to a credit card. Only to a bank account. Our newest credit card processor Wirecard allows withdrawals to a credit card.

    Now regarding your case: we need to make sure you are the card holder. You might have sent credit card scanned copies in the past, but since we distroy them immediately, due to recent fraud activity during February, we would like to make sure you are the owner. Credit card withdrawals are subject to extra evaluation, and we might require you to verify your identity multiple times. This is not personal. It's because of the nature of the way of cc deposit.

    AAAfx is a regulated broker by Mifid, employs 70 people, and opens daily more than 100 new live accounts. All wire transfer withdrawals are processed same day. Credit card withdrawals above $1,000 require scanned cc copies from both sides (at the time of the withdrawal), and your credit card statement.

    We have lost over 300,000 Euros only in February due to credit card fraud and we need to be cautious with the cardholder identity. Again wire transfer withdrawals are fast always.

    Please contact backoffice@AAAfx.com
    To resolve the issue asap
     
  3. dimitri28

    dimitri28 Recruit

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    I agree

    I had withdrawal problem with them too. They just stole part of my money during withdrawal and I have closed account with them. Will not recommend doing business with this broker to anyone.
     
  4. phreddy

    phreddy Recruit

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    Much as it is an irritation we live in a world of internet thieves. Credit and debit cards are the easiest, I believe. If AAAFX have lost money through this then I would expect better security to be installed.
    I would not brand them as scammers quite yet.
     
  5. 8mile 321

    8mile 321 Recruit

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    Bad Service

    I too have had very bad experiences with AAAFX with Wiring money. As of today I have waited 2 weeks for a deposit to show in my account. I have emailed support 2 times and used live chat 5 times but nothing is being done. I can only assume they use their holding account to earn interest.

    Also be wary, live Chat have the same operators for ZULU and AAAFX. So making a complaint to ZULU is a waste of time

     
  6. 8mile 321

    8mile 321 Recruit

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    Still waiting for customer service for this SCAM AAAFX

    Night of 22nd March 2011. I have been on live chat customer service for an hour. I have been given every excuse in the known world, to be told again that the back office will get back to me.

    Amount potentially lost at this stage over $10,000 USD.

    Does any one know of a complaint regulator that can intevene or do I go to Police?

     
  7. f-man

    f-man 4Xangels Representative

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    You can file a case against them here at our traders court

    FPA Traders Court FAQ and Instructions - Forex Peace Army Forum

    I would also seek for legal advice definately
     
  8. aaafx sales

    aaafx sales aaafx.com representative

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    Dear 8mile 321,

    aaafx is an EU and HCMC regulated broker and based on EU regulations that we are obligated to follow, I can assure you that there is no way for any deposits to be lost.
    Please contact sales@aaafx.com with your account number and email and I will handle the matter personally.

    Regards
     
  9. fxbrownie

    fxbrownie Recruit

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    Brokers!

    Regarding slippage AAAFX is much better than other brokers. In my situation there was some delay in opening the account. However i didnt get angry as I felt more safe thinking that this happened in order for them to check papers, bank etc
     
  10. tz1244

    tz1244 Recruit

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    I am also using AAAFcx and am pretty satisfied with their performance. The last 3 months I have seen improvement on most aspects - mainly MT4 performance and reducing the slippage to almost none. I have not experienced any problems concerning financials and I do live quite on the other side of the world - New Zealand. Dunno what you guys are talking about, their customer support is very good and always there in case of emergencies :)
     
: zulutrade, aaafx

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