Unbiased Forex Broker Experts

Uygar Reviews

Review for UFX.com

London, United Kingdom,
Jul 30, 2019,
Registered user

UFX OR RELIANTCO INVESTMENTS LTD. RUN AWAY FROM THESE PEOPLE

Service use: Live

THEY ARE LIAR, THEY SCAMMERS THEY ARE THIEVES as I can not describe them any better


I have been scammed by Reliantco Investments Ltd, they are also called UFX

I was contacted by brokers Mr Izzet Kamer, Mr Levent Demir and Arda Polat who encouraged me to open an account with UFX. The brokers contacted me by telephone and email and encouraged me to invest in various financial trading namely gold, petrol and stock exchange. I was assured by brokers that as long as I do what the brokers ask me to do I shall win and that there will be no losses. The brokers reassured that I will make no loss and a win was guaranteed. In reliance on this representation, I entered into a contract with broker. The representation was an express term of the contract. In fact the representation was false and broker was in breach of the contract in that none of the investments made a return.

As a result of the misrepresentation, I have suffered loss and damage. In the circumstances, and they are liable to me for damages for misrepresentation and breach of contract.

I did not have any knowledge or experience in investments and I did outline this to brokers. The brokers encouraged me to open a professional account and told me to not to worry and to rely on their advice. (you had to have two or a year and half years professional experience and €500000.00 in your account in order to trade professionally in European countries as this is the regulation in European Commission)They opened a professional account in their platform without my consent in order to take more and quickly money from me. Again this is illegal. They also confirmed that they will help and provide all the answers to complete the account and that they will complete the account on my behalf. The brokers have clearly been in breach of their role and provided incorrect and false information in order to complete the professional account.

I can inform you that all the telephone conversations were recorded. As these recordings are crucial evidence in this matter proving that financial advice was given by brokers to me. You give them notice that all the telephone recordings should be preserved as evidence. It is clear from the emails I received from brokers and the telephone conversations that brokers have introduced themselves as a authorised person to give financial advice. I was initially encouraged to make small investments. The brokers first made it look like that I was winning and making money. All the money I won was held in the account brokers opened. Further investment advice was given to me by brokers and I was pushed to make big investments which resulted in losses which was never mentioned by any of brokers.

I realised that they are regulated in another European Economic area (EEA) country and as you are aware in order to regulate certain financial activities the brokers should have been
authorised to carry out the said regulated financial activities. Please confirm with them whether their brokers were authorised to give financial investment advice to amateur investors such as me. As a result of the wrongful advice brokers gave, I suffered a loss totalling in the sum of £48,000.00 In sterling pound. I request full refund of This sum.
I reported them Ombudsman, CySec in Cyprus and found a lawyer ready to take them
To court in Cyprus. As well as I reported them
FSA financial services authority and Police here in London. Police in London said will contact police in Limassol

I’ll also be going to Cyprus next week myself
1 trader has found this review helpful