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CorrFX.com Review

Updated: Mar 15, 2018
SCAM
1.252 · 5 REVIEWS
Is this your company?
Scam Confirmation

Based on serious abusive actions against a client as well as multiple delays and broken promises from the company's senior management, the FPA now considers CoffFx to be a scam.

CorrFx is hereby blacklisted by the Forex Peace Army.  The FPA warns traders against doing business with CorrFx or any related company.  If you have money on deposit with CorrFx, the FPA recommends you try to withdraw it immediately.

Scam Confirmation

August 2016:  There is an FPA Traders Court Case guilty vote against this company for continued failure to pay the trader mentioned below.  The FPA recommends AGAINST dealing with CorrFx or any related company until this issue is fully resolved.

July 2016:  WARNING:  The FPA has seen evidence of CorrFx deliberately delaying a client's withdrawal because the company was upset over a bad review.  CorrFx threatened to delay the withdrawal even longer if the client caused any trouble. CorrFx promised to allow the client to withdraw his money as soon as the review was removed.  When the review was taken down, CorrFx continued to come up with reasons to delay paying the client.  The FPA is shocked and disgusted by these actions.

The FPA warns AGAINST doing business with CorrFx.

Website is down. Company seems to be out of business.

CorrFX is a forex broker. Corr FX offers the MetaTrader 4 forex trading top platform. CorrFX.com offers over 45 forex currency pairs, indices, stocks, cfds, energy, ags and precious metals for your personal investment and trading options.

CorrFX.com

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
2016-1322016-07-15mrnicecookie vs corrfx.comguilty

CorrFX.com profile provided by Corrfx Support, Apr 18, 2016







  1. CorrFx is the world's first specialty broker that provides clients with education and  proprietary indicators


  2. Trade our methods or trade your own


  3. Instant Withdrawals


  4. 50 Fx pairs, 17CFD's , 26 Single Stocks


  5. Live Chat with Experienced Traders


  6. Industry-Leading MetaTrader4 Platform


  7. Convenient Funding Methods including Paypal, Skrill, Western Union and Bank Wire


  8. Up to $5000 New Account Bonus


  9. Negative Balance Protection- never lose more than your total deposits- Guaranteed!


  10. Quick KYC verification


  11. Favorable swaps or swap-free accounts


  12. EA's and Algo's welcome


  13. IB program offers industry high 30% on client volume


  14. Translate our site into any language


  15. Min deposit $200 USD


  16. As low as 0.7 pips EUR/USD on our Pro Accounts and 1.0 pip on our Standard Accounts


  17. Being an A Book broker means we are vested in your success


  18. we use the most sophisticated back office software available


  19. Education specializing in Correlation/pairs trading



 



 








 


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Scam!
1.252 · 5 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Alvin Goh,
, Singapore,
Jul 14, 2016,
Registered user

Issue escalated to Traders Court mrnicecookie vs corrfx.com | GUILTY
I Made a deposit to Corrfx via Skrill on 17/05/2016 of 664.53 Euros and another deposit on 24/05/2016 of 1544.09 Euros. Total deposit was 2208.62 Euros to support@corrfx.com . They claimed that they have a EA which scalps with great profits and i and they are a A Book broker with good reputation. After almost a month of investment, I wanted to request for a withdrawal and i asked support via Email whats the proper way to submit my withdrawal request and they said its via email will do, as their backoffice is not used and they claim that their clients do not like it, so they are upgrading it and not using for the meanwhile until it upgraded. So i Requested for a withdrawal on the 21st of June and they said it will take 3-5 working days for my withdrawal to be sent to my skrill account as they have to wire the cash to their Skrill account before they have the funds to send it to my skrill account. On 28th June, which is more than 5 days later, I asked about why my withdrawal havent been sent to me and i felt really furious and as a result, i posted a 1 star comment in this review. They immediately responded in my email with harsh words and told me because of my posted reviews, there will be a further delay in my withdrawal request again. I demanded for an answer why is my withdrawal delayed without any satisfactory answer but there was no answer to this question. Instead, they said my withdrawal delay will be probably 2 weeks because of my 1 star post review. They blamed by replying me in my email saying this "Next time don't write malicious reviews. You would have had your money tonight. We will not tolerate that." I replied "So is this the way your company threaten clients?" They replied "no threats here, the next time you cause problems, the delay will be longer. " I replied "It's clearly a threat. If you are legitimate, u will send funds asap, and not withhold clients money just because they are jumpy over not receiving any money or posting comments that u think might not be true. You are acting this way because your company is not regulated. You are free to take clients funds and not return them. I know that's the risk I have to take when depositing money with you. But I didn't know I am so unlucky. I am speechless." They replied "YOU SHOULD REMAIN SPEECHLESS, THAT IS YOUR PROBLEM. We told you by Wed....Every client has rec'd their funds. We are a successful reputable broker. You have given us the first bad review in our history so we are very upset. " I copy and paste everything exactly the way it is straight from my email and i have evidence to attach to prove that this was indeed said by the support staff at Corrfx thru email. I even attempted to call their company phone number listed on their website and a female answered the phone, and the moment i asked to check for my withdrawal request, she say she is not in charge of this and hanged up the call without any hesitation at all. Thereafter 2 days later i requested FPA staff to take down the 1 start review post that i have made on delayed withdrawal problems with corrfx as they wanted me to take down the post and they said as soon as the post is removed, they will send my withdrawal request. Thereafter taking down the post, they said "Thank you Alvin....I have emailed the accounting dept and asked them to expedite your withdrawal." This reply was on June 30th. Thereafter hearing no news about my withdrawal request, I emailed corrfx support again and this time they said they do not know the status of my withdrawal and accounting will email me on the status the day after during working hours. I asked for specifically the email for the accounting department, but they wont give and asked me just to wait till the next working day for them to email me on the status of my withdrawal request. I was indeed at a desperate situation and called forexware to clarify the situation, and they said they only provided the infrastructure and liquidity for corrfx to conduct their business and the deposited money is not with forexware and it is with Corrfx. Lawrence from Forexware sales department promised me that he would give Corrfx a call to help me push the withdrawal as it is delaying way too long. Thereafter, I had an email from corrfx support when i asked for any updates from the accounting department? They replied "Not yet Alvin...why did you call Forexware???" I replied "I was trying to get to the accounting department for my account withdrawal. I need the funds urgently. Really. I am begging you please..." Corrfx replied "Accounting says you will rec. the $2365 USD withdrawal no later than Tues. July 12, they will try sooner but there are holidays and the funds have to come back from Skrill first.....If I were you I wouldn't make anymore calls to anyone, or write anymore reviews. You are making things worse." I replied "I thought u said my withdrawal will be within 2 to 5 days and latest will be Wednesday this week, and now you are saying latest by 12 july? So I have to wait another 2 more weeks for my deposited cash to come back to me? No other choice?" They replied "It would have been last Tuesday night but your review caused them to delay it. Now they will try to do it sooner than the 12th , read the email. Pls don't contact us anymore until then." I asked them "Just curious, how did they delay it? Received the funds in skrill but instead of sending it to me, sent it to somewhere else all because of the post in fpa? The delay was done on purpose?" They had no response on this question. On July 9th, I asked support thru email "Hi Support, Has my withdrawal been processed and received yet? What is the current progress?" They said "The funds have been sent to Skrill. You will get it next week." I asked for confirmation on my withdrawal on 12 July "Will I get my withdrawal on 12 july? Or will there be a delay?" They said "I hope tomorrow, we will check Skrill in the morning and send it right away. Everything was slower this week but we will get this done for you Alvin." On 12th July, I sent another email "Hi support, It's 12 July today. Are you all going to send my withdrawal to skrill by today?" They replied "Hi Alvin, sorry for the delay, we expect it to happen today still but Skrill has not confirmed receipt as of yet. We will update you shortly. Thank you." On 13 July i asked support via email again "Any signs of my withdrawal being sent to me yet?" They replied "we are checking every half hour. it will be done shortly." On the same day i asked about my withdrawal for the second time and they replied "Hi Alvin, if it doesnt show in in Skrill soon, we will wire to you or send cash western union." I said western union would be good. And i asked them what information they needed to send me the funds via western union? And also asked why is it so difficult to send my deposited money? Took 3 weeks and postponed 2 times and now it is going to postponed yet again. They replied "for western union we just need the city and country. The recent delay was not anticipated." On 14 July I asked support, "Hi support, So i guess my withdrawal will not be coming anymore after waiting for 3 weeks? With 2 promised datelines broken? If u all have difficulty sending funds, just be honest with me. Dragging things like this is not good for you or me." If you all have intention to send me my deposited money, show me some proof (transaction slip)" They replied "You most definitely will be paid. yes we did run into some difficulty with transfer but we certify our promise. No client ever loses their entitled funds with us. I don't have an exact time but it will be very soon. please don't worry." I replied "I have been waiting 3 weeks. This answer is not acceptable." They replied "give us 24 hrs to give you a firm time, we need to speak with the bank." I replied "So you are sending western union or speaking with the bank or sending skrill?" They replied "exactly, one way there will be a swift resolution Alvin. Ill send you $25 interest too." I replied "Which way? I don't need the 25 dollars interest. Just give my deposit back to me and we will close the case from here." They replied "we will know which way tomorrow." I replied them "Please stop saying that skrill withdrawal is within 48 hours. This is complete bulls***" They replied "don't start shooting your mouth off again Alvin, you did this to yourself." I replied "Once more,Thanks for the kind advice. That's deeply appreciated. Honestly, deep in my heart I know 99.9% my money is gone. No decent company has ever talked to me this way. It was my mistake to have deposited so much of money with you. I am just speaking my heartfelt feelings. If you don't mind? It was an expensive lesson. I knew non regulated brokers are very dangerous, but I didn't know my luck was so low. This is my hard earned money and I will take some time to get over it. I'm sorry I had to say all these. Thanks for hearing me out anyway." I attempted a last final attempt on asking the status of my withdrawals and this was the reply from corrfx support "First we are sorry if anyone was rude to you. There are alot people who will lose their job at Corrfx for not treating clients better...As far as your withdrawal, I'm afraid your funds were not properly sent to Skrill. I wanted to send by Western Union but we are suppose to return all funds in the same manner we rec'd. This means 2-5 more days. I'm so sorry Alvin but these are the facts." Final reply to them was "Sorry I cannot accept your answer and this endless delays and excuses." This conversation was dated up to 15 July 2016. In my opinion, they are very nice and fast in depositing funds in your MT4 account, but when you start to initiate withdrawals, thats it. It is the beginning of the end of your money. They are also making use of Forexware LLC to lure customers to deposit funds , making use of their infrastructure and reputation to do all these dirty things. And surprisingly, Forexware staff is not aware of these things happening at all. I have evidence and proof of what i have typed here and will attach in the scam alert folder to prevent more traders to fall into this trap. I hope FPA staff will assist me the best they can to help me fight back my hard earned deposit money of 2208.62 Euros. Thanks FPA for your kind advice too.

2016-06-24 1 Star Withdrawal to skrill took really long and they also cancelled my backfire login. Thereafter there is no reply from emails anymore. Anyone can help me to get my money back?

Added by Corrfx Support <support@corrfx.com> on 2016-06-28 We are sorry to hear that 2-5 days to withdrawal using Skrill is too long. Also we have documented 47 email responses to you in the last 7 days. We have closed your account because you should not be allowed to trade anywhere, that's why you can't login.
Forex Peace Army
Review moderation team note
2016-08-22:  The FPA has followed this issue with great interest.  Alvin first complained of delays in withdrawals on July 14th.  Since then, the FPA has seen evidence of a string of broker promises to process his withdrawal.

Michael Stevenson said he is the Vice President of CorrFx.  After payment delays and calling the FPA warning against the company "ridiculous", he later claimed to have had the employee who threatened Alvin terminated for misconduct and wrote...

"I promise that you will get the respect you deserve from this point on and you will receive the entire $2365USD"

After more delays, including a 21 day delay blamed on incorrectly sending the money to Paypal, on July 29th he said...

"21 days will be two weeks from today, absolute worst case."

That deadline ended in August 12th.  Then there were new delays.


Charles Mady was the founder and CEO of CorrFx.  Later, he's attempted to distance himself from the company.  The FPA is not sure if he sold CorrFx, abandoned the company, or is just trying to keep his name out of the mess the ailure to pay Alvin has created.  He wrote...

"Yes he will pay you. I don't know what day exactly but if he refuses I will pay you personally . You have my word."

When Alvin pointed out that Charles didn't mention any deadlines for the payent from Michael, Charles replied...

"Ok Alvin, the more someone tries to reassure you the more difficult you are. I revoke my offer to make good on the amount owed to you. You can deal with Michael now. I will no longer respond to you now."

Alvin has still not been paid.  CorrFx's website went down last week.
RichyFx,
Bangkok, Thailand,
Aug 9, 2016,
Registered user

This is SCAM Broker

Hi, FPA
I open account on Corrfx.com for investment Deposit via Paypal $1000 then the profit is around 2500 dollars.On date 7/7/2016
I request withdrawal on 7/7/2016 my profit but Corrfx they said ok but they tell me that i have to wait because Paypal is hold money and after 2 day they tell me paypal is unhold and can pay me
After that they shift me from that day to now is almost one month they tell me next week and next week and last email from they tell me this week and then noting happen now they didn't reply my email
Kittipong Unparsert,
Bangkok, Thailand,
Aug 4, 2016,
Guest

Hi, FPA

I open account on Corrfx.com for investment Deposit via Paypal $1000 then the profit is around 2500 dollars.On date 7/7/2016
I request withdrawal on 7/7/2016 my profit but Corrfx they said ok but they tell me that i have to wait because Paypal is hold money and after 2 day they tell me paypal is unhold and can pay me
After that they shift me from that day to now is almost one month they tell me next week and next week and last email from they tell me this week and then noting happen

Have someone from forex factory told me to post in FPA he said you can do something because he have the same problem

Please help me
Alexey Zhirov,
Russia, Russian Federation,
Jul 28, 2016,
Guest

Yes, I have earned and you brought $ 600 1 time. I fully complied with the conditions of the bonus and even 10 times.
Later I earned 25K dollars and ordered the payment of $ 2K. But I have not paid a single cent and threatened to take away the $ 600 that paid.
It's just a Scam broker. Do not spend a dime there!

2016-07-01 1Star When I brought the money, they were gentle and friendly. Almost a** licked.

As soon as I asked for 10% of the money earned my account blocked, support does not respond for several days. Scam broker!

As soon as I asked for 10% of the money earned my account blocked, support does not respond for several days. Scam broker!

2016-06-30 2Star They changed postaschik quotations. Torogovye conditions became worse, the constant slippage until the end of the candle, the delay of opening orders. It is not possible to open an order at the right price.
Scalping is not possible. You can trade in the medium and long term.
Money withdrawn Horo, within 2 days.

When I brought the money, they were gentle and friendly. Almost ass licked.

As soon as I asked for 10% of the money earned my account blocked, support does not respond for several days. Scam broker!

As soon as I asked for 10% of the money earned my account blocked, support does not respond for several days. Scam broker!

2016-05-05 5Star My feedback about this broker can get very enthusiastic. And it will read is true.
I've been looking for a good broker. This month started working with KorrF. Broker was always in touch with the first minutes of registration, helped to make a deposit, always quickly respond to all questions.
My first deposit was lost because of my mistake in the SETUP trading advisor. After that I had a little money, I made a deposit again to continue trading and to recover the lost money. Broker made an extra bonus for me, through which I was able to trade on.
I was very happy about it, because I was very worried about the loss of money and the fact that I could not continue to trade. I was afraid to tell my wife what had happened.
Thanks to such care broker I could continue to trade under the best conditions. It's like a gift.

I want to thank the broker and customer support for the care and attention they have shown to me. Their sense of humor has improved my spirit.

Trading conditions are excellent: fast order execution, small spreads, no slippage. Good training in how to use the correlation trading. Thanks to him, I began to study in greater detail this kind of trade.
I recommend that you work with that broker. I think you get a real pleasure to trade there.

Added by Corrfx Support on 2016-07-06
Content: Alexey deposited $150 total, withdrew $600 which was sent to him within 48 hrs then fraudulently manufactured trading statements claiming to have earned $23000 when in fact his real trading account had a zero balance. As a result we closed his account permanently.
Victor P,
Lakeshore, Canada,
Apr 4, 2016,
Guest

This is the first "niche" broker that I know of. Their specialty is Correlation Trading although I trade my own systems as well.I get the feeling that they really want me to do well. They have exposed me to a style of trading that I never knew existed and even shared their indicators. Their trading conditions are very competitive and customer service is excellent. One withdrawal so far was received in 3 hours via Paypal without issue.