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velocity4x.com Review

Updated: Jun 16, 2015
SCAM
2.181 · 39 REVIEWS
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IB to StartForex Ltd.

CONFIRMED SCAM CASE: Velocity4x is blacklisted by the FPA. We urge anyone who has an account with them to withdraw their funds. We recommend against placing any funds with this company.

Note that Velocity4x.com is not related to VelocityTrade.com/VTtradeFx.com


June 2010 Update: Website now points to a search engine. Company appears to be out of business.

 

velocity4x.com

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
20092009-06-02FPA Scam Confirmation against Velocity4x & StartForexguilty

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Scam!
2.181 · 39 REVIEWS
Forex Peace Army
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Japan,
Apr 3, 2009,
Guest

Please help me.
This broker invalidated my profit suddenly on February 17, and the account was closed.
I do the withdraw request including the profit many many times....
But Velocity keeps being disregarded.
I 'd like to withdraw including the profit.
It is a crime if they don't withdraw it.
I am very troubled...
Tokyo, Japan,
Mar 27, 2009,
Guest

This broker is a convinced criminal.

I started from $200 on February 10, and I added $200 later. On February 19, It reached $1806.32. My statement at that time can be seen with following URL.

http://www.bmw-life.jp/fx/Velocity4x/statement.htm

However, I knew the rumor to which the account of the customer to whom this trader turned out profit had been frozen, so I sent the payment request.

But my account was frozen on February 27, and my account was invalidated.

They are insisting that dealings that ware quite different from a correct rate of the problem of the system as a result of auditing it were performed.

I requested many times, the content of the audit result and the presentation of the reason why my account became invalid though it is trouble of system.

However, there is no answer at all either.

This broker, Velocity4x is a malignant fraud ring. It is very regrettable that such a trader exists in the FX industry.
Tokyo Japan,
Mar 10, 2009,
Guest

This company is a fraud group.
This company does not pay my money.
Please help me.
Japan,
Mar 4, 2009,
Guest

Perfect Scam! No withdraw and No Customer answer
Eternity
It is Japanese and about 20 victims.
SUPER SCAM 
Japan,
Mar 3, 2009,
Guest

I did the receipt of money of 300USD in Velocity4x.
And of 804.63USD profited.

It was said that the profit was invalid when I demanded expenditure of 800USD from Velocity4x, and the account was invalidated.
It was to return the amount of receipt of money, but there is not yet the return.
My profit is taken to the amount of receipt of money after having been taken in Velocity4x.

I operated EA, and nothing does the thing that, besides, is bad

Thereafter Velocity4x does not answer my email.

I am robbed of all funds.
I think that this is a fraud case.

Please please help me.
Japan,
Mar 3, 2009,
Guest

Issue escalated to Traders Court FPA Scam Confirmation against Velocity4x & StartForex | GUILTY
This broker is verrrryyyyyyy bad scamer.
They do not pay back your money.
Get money Only.
Until you make account, They are very kindness

But if you make your account ,
and win and send withdraw form

No responce.
Realy No responce

Only 1 ore 2 responece

But your money don't come back........

2009-04-24 Scam Investigations Committee note: This case is confirmed as a scam.

More. Community discussion of this issue >>

Japan,
Mar 2, 2009,
Guest

As for me, $ 1,460 paid money to Velocity4x.

Have dealings afterwards; of the $ 127 dollar profited.

I performed the expenditures of $ 1,587 in total on February 6, 2009, but it is not yet given money back.

Of course I demanded the repayment by an email many times, but communication does not come from Velocity4x.

There is not the communication of the reason that I performed why repayment is late.

I think that it is a vicious broker here.

I put exclusive homepage and charge and, for a Japanese, provoke the receipt of money persuasively.

Perhaps will not there be a victim other than the Japanese either?

I demand the prompt expenditures from Velocity4x.

(I'm sorry, my English is not so good)
Japan,
Mar 1, 2009,
Guest

I sent withdrawal form to Velocity4x many times. (My account has not been frozen)

But Velocity4x doesn't reply at all.

I still haven't received the payment. I am very embarrassed.
Japan,
Mar 1, 2009,
Guest

I want to make warning to all traders by reffering to the thread in Scam alerts folder posted by yokebeto on March 2, 2009 about Velocity4x(Broker).

As you can see the thread, we each 19 people have deposited our money 51,641.73 USD in total during January 2009 to February 2009.

And we have done a trade many times using EA mainly applicable to EUR/GBP currency pair, and made good profits amounted to 82,011 USD.

We believe that these trades were absolutely legal and all profits and initial deposits are completely belongs to us.

But suddenly, our accounts had been frozen.
We required the reason for account freeze.

They explaind by e-mail that they have to be audited by external bank which cover their orders, and we have to wait until the audit will be completed and get a result of audit.

We had waited, but suddenly again, out account were invalidiated and all balances were reset without our agreement. The results they finally communicated to us were ridiculous and too bad to be accepted.

Their explanation to us communicated through e-mail is as follows.

"Our risk control department of made a conclusion that all your profits were made due to bad condition of our system or communication line, wrong pricing far apart from the prices actually should be, delay of communication.
So, we decided that your trades are invalid, and your account is reset to initial deposit amount, and your account will be closed, after that your initial deposit will be paid back to you."

But as of today, they have not paid our money back even our initial deposit.
To make matters worse, there are people who only made a deposit and made no trade at all. thier accounts were also closed and money have not paid back.

In addition, they are still operating as normal, quickly reply to e-mail of open new accounts, but they have not replied to our withdrawal request at all.

We can not accept such a story.

We have to punish velocity4x and take a action not to have a new victim.
We want FPA to punish them and want NFA, CFTC, FCM properly regulate all forex blokers in U.S. without exception.
USA,
Jun 6, 2008,
Guest

No rating because I have yet and will not commit money after I was "introduced" to Velocity4x, through no part of my own, after signing up through an IB (Traderschoicefx) and choosing GAIN (i.e. Forex.com).

Shortly after my account had been approved I was sent an email with a link to download the Metatrader program. OK I thought. I've loaded plenty of demos from scads of other brokers but I was a bit put off to find I was being shuttled to some third party I'd never heard of. What got me was that the IB didn't even mention them. Maybe I missed it... but I'm sure I didn't.

I figured I'd just test drive the demo in the meantime and see how it stacks up to all the other white-labeled examples of MT4. Well, not too good. What killed it for me was what happened yesterday. I was demoing their version for the first time and trying to place a simple buy, nothing fancy, a message popped up saying I had to enter it in 50 pips from the current price! What?!

With another instance of Metatrader through another broker I put the same order in with the message saying 5 pips. What gives? That was disturbing. Also it was losing connectivity while my other terminals hummed along. I have a fast 7mb DSL connection and have run up to five instances of MT4 from five different brokers with nary a burp.

The bad eggs out there become evident right away with outages etc. I've no time or patience to fiddle around so just deleted the program. If an organization can't even get a demo to function properly then it should give anyone pause before committing real money to them. I'm not. I'm pulling the plug on my account and continuing my search.