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LoyalForex.com Review

Updated: Jul 26, 2018
SCAM
3.383 · 31 REVIEWS
Is this your company?

SCAM CONFIRMATION

Due to unresolved FPA Traders Court guilty verdicts against 4RunnerForex and 1LotSTP, the FPA recommends AGAINST dealing with all brokers belonging to Fx Systems.

FxSytems, it's associated brokers 1LotSTP, 1PipFox, 2PipFixed, 4RunnerForex, and LoyalForex are all considered to be Scams by the FPA. Their fake regulator NFACS.org is also considered to be a scam.

SCAM CONFIRMATION

Formerly an IB of Prime4x.  Loyal Forex informs the FPA that the company became a full private brokerage on October 1st, 2010.

November 2011:  Loyal Forex now belongs to FX Systems.

All of these websites are down.  The companies appear to be out of business.  The FPA cautions traders to be on the lookout for new websites run by this group.

Loyal Forex are forex brokers. LoyalForex offers the MT4 and MetaTrader Mobile online forex trading top platforms. LoyalForex.com offers over 70 currency pairs, cfds, oil, indices, gold, and silver for your personal investment and trading options.

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Court cases

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  • Guilty0
Scam!
3.383 · 31 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!

Jean Naymar,
DC, USA,
Jul 18, 2014,
Guest

Loyal Forex is a scam. My story is similar to other reviewers here. Everything is fine until you need to withdraw your funds: got excuses that they couldn't do a wire transfer. Told me my funds would be transferred as soon as I have an OKPAY account opened, which I managed to do. Then I didn't get any more replies, all my messages were ignored, I could never get my money transferred. If you contact their customer service they can never find your "ticket #" requesting your money transferred, all they will tell you is to submit a new "ticket". So you submit a new ticket, which is ignored as well and "disappears" when you try to contact customer service. You can never talk to a person from the accounting department. They are just too busy stealing your money. Keep off.
CHENG Hao,
Singapore, Singapore,
Jun 30, 2014,
Guest

This is to give you guys an update of my case.
Till now, I still have not received my money. They kept telling me to wait and wait.
I have reported to Nevis Financial Services Regulatory Commission and Nevis Police, luckily one police office replied me and said he would check it out.
Guys please be extremely cautious of this FX Systems. I will update you guys again soon.

2014-06-20 1Star I would like to share with your guys my story here. I have been trading with this broker since Nov 2011, and finally I have made some small profits. After some deposits, I became a VIP trader with a so called dedicated account manager named Alex.
Everything started to change since my withdrawal request this month.
- 8 June, I requested to withdraw most of my balance. Half of it is my deposit. On the same day, there was a reply saying that they would follow up. Obviously this was an auto reply email.
- 17 June, there was still no progress. I updated my ticket and tried to reach my VIP account manager. Guess what, they just ignored my ticket, and my VIP account manager was like disappeared from earth.
- 20 June, after many tickets and complaints and warnings, their account dept finally replied me and told me my account was red flagged for suspicious activity, and it might have been a mistake. I replied and ask for more details and when it could be solved, and no reply from their account dept.
Basically, as my experience with this broker, they are only excellent when you deposit and open account, maybe they are still good when you withdraw your deposit. However, if you want your profit, they would just change attitude by 180 degree and keep asking you to wait, and finally come out this ridiculous excuse “red flagged for suspicious activity”.
This gives a scam alert. While waiting for their response or shitty excuses, I will collect all possible evidence and report to Nevis police and Nevis finance authority next week, and hopefully they could help.

Good luck to me.
apple4329,
, Viet Nam,
Apr 6, 2014,
Guest

I desposited 3400$, and now, i want to widrawal , however they never transfer money.

super scam

forexpeacearmy help me:((

Review Moderation Team Note: If you can't get this resolved by talking to Loyal Forex Support, the next step is to open a thread in the Scam Alerts Folder.
Minako Togashi,
California, USA,
Mar 31, 2014,
Guest

This broker has not honored my request to withdraw my funds of US$1,890.64. LoyalForex would not allow me to access my account, then said my account did not exist, then found it and said they would reopen it, then instead opened a new account with zero balance. They failed to provide me details of their dispute resolution process. Failed to reply to the "Complaints" email I sent pursuant to the agreement for starting a dispute resolution. I am a U.S. resident. This broker no longer accepts clients in the U.S. Many brokers left the U.S. market to avoid tighter regulations in the U.S. Thus those brokers leaving the U.S. market had to liquidate (and refund) or transfer the U.S. clients accounts. Apparently this broker just closed the accounts and kept their U.S. clients money - or at least did so in my case.
Norbert Kovacs,
, Hungary,
Feb 14, 2014,
Guest

Unbeliveabe brokerage!!!!!!!!! I made more deposits and i lose,but when i win,the brokerage closed my account to 90 days,i dont know why.I get back my last deposit 1300$ but i dont get my profit 3190$ NOT CORRECT. Every body go other brokerage.

This is we talking:
Tracking ID: JYY-988-E4HZ (Ticket number: 40923)
Ticket status: Waiting reply from staff [Mark as Resolved]
Created on: 30/01/2014 10:23:25
Updated: 14/02/2014 13:12:24
Last replier: kovács norbert
Category: Legal
Replies: 16


Date: 30/01/2014 10:23:25
Name: kovács norbert
Email: trebron3535 (at) freemail (dot) hu
Printer friendly version
Account Number:
Division: LoyalForex.com

Message:
Dear Jon Thomas!

What is the problem? And you give me an explanation?I withdrawal
1300$ and i get this ammount few days ago,ever since make i 2-3
trade,i don't know what i did wrong. I'm just trading.

Norbert Kovacs

"LoyalForex.com" írta:
Hello Norbert Kovacs,

We must inform you that your account #900379 has been flagged as
violating Terms and Conditions and is under Review.

The ticket has been sent to the legal department and they have 90
days to resolve the issue.

Regards,
Jon Thomas
FX Systems Accounting Department

Date: 30/01/2014 10:27:23
Name: kovács norbert
Printer friendly version

Message:
Dear Jon Thomas!

What is the problem? And you give me an explanation?I withdrawal
1300$ and i get this ammount few days ago,ever since make i 2-3
trade,i don't know what i did wrong. I'm just trading.

Norbert Kovacs
Date: 30/01/2014 10:30:50
Name: Client Services
Printer friendly version

Message:
Hello Norbert Kovacs

Your account has been sent to the legal department as it has been flagged as violating Terms and Conditions and is under Review.

The legal department has 90 days to resolve the issue.

Regards,
Jon Thomas
FX Systems Accounting Department
Date: 30/01/2014 10:36:41
Name: kovács norbert
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Message:
Dear Jon Thomas!

What is the problem? And you give me an explanation?
Date: 30/01/2014 10:52:05
Name: Client Services
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Message:
Hello Norbert Kovacs,
When legal has completed the review you will be contacted.
Jon Thomas
FX Systems
Date: 30/01/2014 11:05:22
Name: kovács norbert
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Message:
Dear Jon Thomas!

Send me 1000$ to my Okpay account and give me 2000$ credit to my MT4 when i can continue trading.Its ok?

Norbert Kovacs
Date: 30/01/2014 11:15:16
Name: Client Services
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Message:
Hello Norbert Kovacs

As we have stated, your account is under review by the Legal Department. They have 90 days to respond.

During this review your account is frozen.

You will hear from Legal Department when review is complete.

Regards,
Jon Thomas
FX Systems
Accounting Dept.
Date: 02/02/2014 16:01:55
Name: kovács norbert
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Message:
Dear Jon Thomas!

I would like know,when can i continue trading and when can i withdrawal and deposit?
Date: 05/02/2014 11:20:09
Name: kovács norbert
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Message:
Dear Jon Thomas!

Why dont get answer?How deposit i higher ammount if your withdrawal so problematic? I dont know what is the problem with my account and with my trade.When i lose is not problem but if i win thats problem?
Date: 05/02/2014 17:01:39
Name: Legal Department
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Message:
Dear Norbert Kovacs:

Thank you for contacting us at LoyalForex.com

For future reference, please do not open more than one ticket per issue. It does not speed things up, in fact it slows the response time because we have even more communication to go through. We have closed the other tickets and will only to this one.

Your account has been flagged and sent to us. We will review it in the order it was received. We have 90 days to respond.

Thank you for your patience.

If you have any further questions or comments please contact us at anytime.

Thank you.

Kind Regards,

Jim Shapiro
FXS Legal Department
Date: 05/02/2014 17:50:48
Name: kovács norbert
Printer friendly version

Message:
Dear Support!

Show me, where it is already in the terms and conditions to 90 days closed my account because I can not find it anywhere.

Thats not correct!

I waiting your respond!!!!!!
Date: 06/02/2014 09:37:25
Name: kovács norbert
Printer friendly version

Message:

Dear FX Systems !

I read through the terms but have not found 90 days restriction.Show me where is the 90 days limits in your terms,please!
Charles,
, Viet Nam,
Jun 9, 2013,
Guest

Loyal Forex does not allow withdrawals if you deposited money via Liberty Reserve. They are locking down all accounts. This is different from the other forex brokerage accounts I have. I would not recommend Tradefort just because of this reason. If Webmoney or Moneybookers go down for some reason or another, they will not allow any other withdrawal method.
Maya Musale,
India,
Oct 14, 2011,
Guest

Hopeless broker, quotes and requotes as if waiting to loose everything.
Shimon,
Israel,
Oct 6, 2011,
Guest

They just lowered spreads and upgraded execution. Very improved broker. I never experienced any server issues with my EA, execution has been excellent with fabturbo
fazle elahi,
dhaka cantonment,bangladesh,
Sep 20, 2011,
Guest

I joined this community recently. The demo account from Loyal Forex turns my dream into new extent. I really have no problem with them and I will be with them for better result. Useful and new features make it easier for a newcomer like me to be introduced to Forex world.
Nargis Tuti,
Fatulla, Narayanganj,
Sep 18, 2011,
Guest

I'm new in Forex market; I start with my demo account in Loyal Forex because a friend of mine told me to. So far I have no complaints about them and my friend is very happy with their services. Also one thing I like the most is that they are always offering something new and nice to make everything easier. Their execution was improved in the last few weeks, execution is max. 1 second which is great with these spreads!