UniversalBrokerageFX.com Review

SCAM

2.042 • 5 REVIEWS

Out of business Pat Kiley

Updated: Apr 13, 2022

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According to the Universal Brokerage FX website, Crown Forex is a partner of Universal Brokerage FX.

WARNING! 2009-05-20: Crown Forex is being liquidated by the Swiss regulators at FINMA. UBFX might be a great company, but any money placed with Crown Forex may not be be available for a long time. No withdrawals have been available from Crown Forex since December of 2008. Now anyone with an account at Crown will have to stand in line with the other creditors.

WARNING! 2009-07-27: UBFX is having some sort of legal issues. One of their representatives tried to erase info he'd left in the FPA's forums. If you have placed money with them, we recommend calling the SEC for advice.

Scam Confirmation! 2009-12-29: The SEC says that much of the money wasn't really invested. It appears that this was not just a managed account company that picked the wrong broker, but it's also charged with being a Ponzi Scheme.

Website is down. One less scam company in business.

⭐ Recent User Reviews

SCAM

2.042 • 5 REVIEWS

Recent User Reviews of UniversalBrokerageFX.com

FPA Scam Investigations Committee

USA,

Dec 28, 2009,

Guest

Issue escalated to Traders Court FPA Scam Confirmation against UniversalBrokerageFx | GUILTY

We thought that the money lost in UBFX was due to the shutdown of Crown Forex. The SEC says that much of the money never made it that far and that this company and its owners engaged in a Ponzi Scheme.

More. Community discussion of this issue >>

Herman Petker

California,

Aug 3, 2009,

Guest

Crown Forex SA CFO or CEO Shady Swais has left the building. If you google his name and open his facebook, you will see someone with the same name operating CG Forex our of Belize.

Jerome Reynolds

Woodbury, MN, USA,

Aug 1, 2009,

Guest

Not sure who is at fault here - but I guess it is mostly me. We were taken in too. But the good news is that I only put 50% of our money with Pat (UBFX) and Crown.

It would be great if there was someone to provide answers. If anyone knows of a good lawyer that can handle the international aspects of this, please let me know. I am not sure if the Swiss government is stealing the money (they have been known for shady deals in the past), or if it's the Jordian owners of Crown, or if it's Trevor and Pat. But the tangled web sure feels like a conspiracy. And that from someone who's radio program accused the US Gov't and others as being in a conspiracy!

I don't know all of the rules for this forum - but if allowed by the moderators, my contact info is: jerome.reynolds+ubfx@gmail.com.

Ronald Stolpman

Lakeville, MN,

Jul 25, 2009,

Guest

I thought that I had money with Crown Forex, but Swiss authorities say Crown Forex SA has not received deposits for some time. I have submitted request for withdrawal of funds. Yet, the website continues to show my money is at Crown Forex SA. What gives? Swiss authorities tell me my money was never deposited there, but Crown Forex website shows deposit of my money. Has Bernie Madoff found a job in prison? Is he updating all of the client accounts at night? My money was transferred from the Entrust office in Plymouth, MN. It was wired to an account named Crown Forex at a twin cities area bank. Where is the money now?

Bill Owensby

Richland, WA,

Jul 22, 2009,

Guest

I have been trying to get in touch with Pat or Julia for a week with no results. I get an answering service with no information.

Curt Harvey

Atlanta,

Jul 19, 2009,

Guest

Was supposed to receive application last week, did not materialize. Physically visited the offices of UBFX on Tiffany Court, in Eagan, MN and their main office downtown in a renovated B&B mansion. Seemed legit at the time. No one answers the 800 # nor the other office numbers. The pages (statements) sent since last August, had decent returns shown, but it is with Crown Forex, so that concerns me greatly.
Should we call State Attorney's office?

Dave Baron

USA,

Jul 16, 2009,

Guest

Hi
Can anyone tell me if UBFX is still in operation, i have been trying to contact their office, with no answer?

Thank You

Charlotte Dynowski

St. Paul Minnesota,

Jun 24, 2009,

Guest

I have had my retirement assets with UBFX since 2002. My experience with Pat and his team has been wonderful! I have family and friends that have lost half of their retirement with other advisors. I feel blessed to have found Pat and UBFX to manage my assets. I would recommend UBFX's services to anyone.

Sincerely,

Charlotte Dynowski

Dan Garman

Eveleth, MN,

May 6, 2009,

Guest

I have had accounts with UBFX since 2006 and have been very happy with the performance and service that I have received. recently(the past 8 months or so) I have been able to view my account online and it updates to the second. I have moved large sums of money in and out of the account over the years and it tends to be a pretty painless procedure. It's my understanding that swiss accounts never receive a 1099 for taxes, which i see as a huge benefit.

FPA Review Moderation Team Note: We've removed the 4 star rating from this review. We have information directly from the Swiss regulators that have control of Crown Forex that all withdrawals have been blocked since December of 2008. As far as we know, all UBFX managed accounts are at Crown. Under these circumstances, we will require significant clarification about these problem free withdrawals.

harry rusk

denton,

Apr 16, 2009,

Guest

I just recently visited pat Kiley. It was quarter end and while I was there I know three different customers called to withdraw money and they all happened as far as I could see. His admin was making up the withdrawels while I was there. I have been very happy with them so far

Review Moderation Team Note: 4 Star rating removed until this is clarified. We have confirmation from the Swiss Authorities that withdrawals from Crown Forex have been impossible for over 4 months. Harry, can you please clarify exactly what broker these withdrawals were made from?

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