SCAM CONFIRMATION
November 2012: There are now 3 guilty verdicts against this company in the FPA Traders Court. The FPA recommends against dealing with this company.
The FPA now considers UFX Markets to be a scam. This company is hereby blacklisted by the Forex Peace Army. We recommend against opening accounts there. If you have an account there, we recommend withdrawing all of your funds immediately.
SCAM CONFIRMATION
WARNING 2: UFX Bank claimed that they hired a black hat SEO company to do search engine optimization. They blamed that company for leaving the fake reviews. The FPA wonders what sort of broker would hire an organization like that and then allow a black hat organization to have direct access company servers. The FPA wonders just how safe client data would be under those circumstances.
Click here to read more about UFX's fake reviews and forums posts.
Other websites related to this company include UFX.com, UFXBank.com, and UBinary.com
UFX is a forex broker. UFX offers the Mobile and MT4 trading currency platforms. UFX.com offers currency pairs, cryptocurrencies and stocks for your personal investment and trading options.
After a few long calls with him he convinced me to increase my deposit to $7000 USD and we will only make low-risk trades and maximize my profits up to $50000 and I have told him that I am only interested in low risk trading, and he said no problem. Couple of days later he made me open oil trade and I was making profit but on the 19/06/18 I lost most of my money because of the trade close down time and I got really annoyed, next day said I apologies for this and I forgot to mention to you the market closes on the 18th of every month, so I complaint to UFX and never received a reply. Since then He Would call a few times a day and suggest opening large trades on Gold, Oil etc but I wasn’t interested at all and tried to withdraw my money but they blocked my account for couple of days until the consultant came back from days off and said that I can’t withdraw money until he authorise it so he refunded the money from credit card but not my profit as I need to fill a form and open a bank account otherwise I’ll have to pay %20 tax. So I was stuck and had no choice but stay with them and convinced me to trade again.
After a few weeks of trading, my account was up around $12,000 USD. So I said to him refund my deposit and I only want to trade with profit but he said your money is safe and we are trading with the profit only but when I checked my account I said to him that the money isn’t there so after a few phone calls with him he agreed to transferee the money back to my credit card, once again not the profit and he convinced me to put money in to my account in order to have more benefit such as withdrawing money when I ever want and make more money more profit and to stabilize my account as my account is basic and not platinum, also for some strange reason while deals are open or closed I was getting messages to put money into my account as my balance is low which it wasn’t ( I have evidence to back everything I said) so once I told him again after what I read about them online that I want to close the account so he was angry with me and said I’ll make you rich don’t lose this chance this is for my benefit and if leave he’s not bothered as he has other clients with more money than me and he blocked my account, 3 days later he phoned me like nothing has happened and said give me a chance and I promise you you’ll make $50000 by the end of August 2018 I agreed on one condition As long as I don’t loose my capital he said your capital is safe trust me let’s make a big deal but I said NO I want my money first he said I transferred it and you’ll receive it in 1 week. On the 19 of July he withdraws money from my credit card without my authorisation and claiming it’s a mistake as my trade account was low despite the fact that I have no trades open and I have $12000 in balance so he said we will keep it to show head office that you deserve professional account but I must change my account immediately to professional account in order to get all my deposit so he send me on Whatsapp what to write in the form and what I should write in the forms, after reading the forms I told him that Im not legible for this he said do what I tell you otherwise I cant give you the money so I did and I have evidence of everything. What he was saying doesn’t make sense to me or my wife as we were listening both of us so after submitting the application he said to me now they will send you email requesting supporting documents and you must ignore them because they only do it for the regulators to protect themselves after couple of days Monday 20/08/18 he rang me saying we have to make this deal now the Gold in a very big down move and should be going down $30 and it would be perfectly Safe to open up Gold trade to maximize my profits, when previously I was only told to open less on gold trades. I was quite skeptical of his advice, but he kept telling me to trust him, I asked him to do it from his end as I was out and replied that his computer is frozen and I should do it from my end so i opened the trade and said don’t close it if its up $10000 or down $10000 leave it as its, and hung up.
2 hours later I got a notification on my phone telling me my UFX account equity was low, and I saw that these trades were now in negative and quickly draining my account, due to the massive trade size. About an hour later my Equity was at $0 and all my trades were automatically closed, basically wiping out my account. On that day the gold went up almost $10 dollars up not $30 down as he said.
I believe it is UFX’s sole intent, to deplete their client’s funds by building up their trust, and then getting them to open big trades like this, or by any other means possible.
How can they take money from my account without my authorisation and say it’s my profit??? This guy Mohammed Alghobari is very Dangerous, scammer and crafty also I am not the only victim this company should be close down.