Estelle Koch Reviews

Review for (.eu)

Granges-près-Marnand, Switzerland,
Dec 6, 2019,
Registered user

Big scam

Service use: Live Length of use: over 1 Year
I traded with Alvexo between June 2015 and October 2017..My different account managers were lying to me that they were teaching me to trade like a professional and they made me risk my whole Account. They made me take big lots and trade dangerous items, reports and news.. I didn't know anything about trading since they recruited me on the phone. They always asked me to add to my account bigger and bigger amounts especially when they found out I had savings. I asked them to teach me risk management and they made me believe everything was fine being above 300 % on margin level...until my whole account crashed with the balance of about three millions. (Which I thought was my real money that I could withdraw). After this they told me to invest again with my last savings to recover, they did all this on purpose to get all my money for themselves since I leaned latter that they won with my losses despise telling me the oposite. They were friendly to make me trust them to invest all I had.. They made me hedge once my margin level was very very low around 100 % and than hardly phoned me again because they knew the account was almost lost... When I wrote to their compliance department after my losses, they answered that it was all my fault and that they would pay me nothing back. They made me desperate and ruined me with their false teachings and guidance I got very depressed. I consider this a fraud and will fight to get my money back.
Please avoid this broker it's a scam
Reply by Alvexo Compliance submitted May 14, 2020:
Dear Ms. Koch,

Firstly, we would like to highlight that as a Cypriot Investment Firm (CIF), regulated by the Cyprus Securities and Exchange Commission, the Company strives to comply with regulatory requirements and provide the best possible service to our Clients whist acting honestly, fairly and professionally. Furthermore, our Senior Account Executives receive ongoing training ensuring the possession of indispensable skills to assist our Clients in using the tools available and to introduce to them different methods of market analysis and risk management.

In relation to your review, kindly note that we have already reviewed and responded to your filed complaint evidencing validity of the aforementioned statement.

Best regards,
Compliance Team

Review for

Lausanne, Switzerland,
Jan 6, 2019,
Registered user

Negative balance

I was quite satisfied with them until January 3rd when my account reached margin call and crashed they were supposed to make a stop out at 50 percent margin level for what I read in their website but instead I have now a negative balance of minus 1100. And they wrote to me it's my fault. I was counting at least on them to stop me out. I am not responsible for this. So my rating for them is lower now as I don't even know if I can withdraw from my other IC Markets accounts because of this
Reply by IC Markets submitted Jan 11, 2019:
Dear Estelle Koch,

It is very unfortunately your trades were negatively affected by the flash crash on 3rd January.

A combination of news announcements and incredibly thin liquidity on JPY caused very adverse trading conditions, and ultimately resulted in the loss on your account. You are correct that our stop out level is 50%, however during such large and rapid price movements it may not be possible to close the trades at this level, resulting in a negative balance. We can see that after communicating with our support team, your negative balance was restored for you. We trust that everything is now resolved to your satisfaction, please reach out to our 24/7 support team should you require anything further.