Cannot withdraw my funds
My name is Latoya and I'm here to make a complaint about the company Fxopen. online. Particularly I have been using this website: https://fxopen.online/trading/login.php.
I was introduced to Fxopen. online because of their auto-trading robot which I thought was a smart way to invest, so I signed up and deposited a small amount of £300. The profits grew a little and when it came to a certain amount they asked me to deposit a further £500 to continue, and then £1590 to upgrade my account.
However, after I requested my withdrawal the company started demanding me to pay more and more fees. They always seemed to find a way to request a charge for something (whether it be account upgrades, taxes, insurance, linking my bank accounts, poor rates, virtual credit card... etc). It got to the point that I got really frustrated because they kept promising at each stage £XXX would be the last bill I had to pay (for me to receive my funds) - when in truth they were lying and request me to pay another bill the next day.
(I noticed that they wanted to make it nearly impossible for customers to withdraw their funds by demanding these exorbitant fees. I think this is how they make their profits).
I even had to take out loans and credit cards in order to pay for the fees, and now I have nothing left!
Until now I still have not received my withdrawal from the company and deeply regret investing in them.
Warning:
Fxopen. online are not a transparent company, they are liars. They do not tell you the truth in the beginning about the amount of fees and charges you will be expected to pay. They continue to hide this information from their customers until it's too late.
They are a SCAM!
Desired outcome: I would like to receive my withdrawal, as they are still holding it.
Invested money is lost
Dear FXOpen,
As a reputed broker, PAMM is one of your products. Since it is your product you have to ensure the safety of your traders. It is you who allow Masters to trade Followers' money. End of the day if the Master does not trade well it is bad for the image of your company. I have totally broken trust in you. Therefore as a reputed (this is how you call yourselves) responsible broker it is your duty to manipulate things.
I have lost all my savings because of this. I invested EUR 5900 and now I have only EUR 8/- in my account. FXOpen cannot simply get away saying 'Trading on the Forex market involves substantial risks'.
You have to minimize risk and continuously monitor Masters' performance. Because it is you who allow master to trade in your company. Please do not conceal your fault by merely saying Trading FX is Risky. If you continuously monitor my Master has failed to give me profit from January 2016 onwards. If you closely monitor End of Trading intervals on 12th January, 9th February, 8th March, 5th April, and 3rd May. This shows that FXOpen has not monitored the progress of the Master.
As a responsible broker if the Master is not performing what action Could you take in order to rectify the situation?
Please observe your company's phrases/sentences below that attract traders and investors
1. the most successful and fastest-growing Forex brokers
2. Since the very start FXOpen has been true and loyal to its goal - making Forex trading more professional
3. easy-to-access and secure
4. we know all the ins and outs of Forex trading
5. We know what it takes to achieve success in Forex and the pitfalls that may impede traders on their way there
6. FXOpen also offers its own PAMM technology allowing our clients to benefit from the strategies of experienced traders with a proven track record of successful trading and guarantees automatic distribution of profit and loss between the strategy provider and the strategy followers.
There are many more attractive phrases, slogans and sentences in your website. But end of the day I'm totally unhappy about your product. Just think about you in my shoes and kindly answer following questions
1. How would you define success when there are under-performing masters with you?
2. Are you loyal to me? and is this your professional way of treating me? I lost Eur 5900
3. What do you mean by secure? I agree with easy to access. Because it is very easy to deposit money. Is this the way you secure our money?
4. If you know the ins and outs didn't you see there is a big loophole in PAMM account masters?
5. Is this the way you drive your investors towards success?
6. What is the benefit have you given me in my PAMM account? How do you guarantee automatic distribution of profit and loss? Loss of course yes. Buy profit I have never received
I do understand your professionalism now. Please closely monitor in following trading intervals FXOpen has given me any commission as calculated in your system.
May 3, 2016 - Eur 46
May 31, 2016 - Eur 1978
Jul 26, 2016 - Eur 559.05
Oct 18, 2016 - Eur 43.06
Further I have attached how a responsible brokarage has begun loosing trades and how they are closed incurring great losses.
(Above reply is a Joke to me)
Warm Regards,
Dear praveen mark,
When creating the PAMM platform we pursued two main goals:
- To allow people, who do not have time and/or experience to trade, invest in Forex by following the trading strategies of their choice
- To allow traders, who do not have enough funds to run their strategy, attract enough money so that both the followers and the traders themselves could benefit from it.
This is why PAMM platform was created – and any person can become the participant of the PAMM platform as a Master or as a Follower and either run his own trading strategy (Master) or follow the trading strategy offered by the masters (traders) and as on any market choose the best strategy for him.
When we introduced our PAMM we already had a significant number of masters for the followers to be able to choose from – taking into consideration their trading style, past performance and other information available.
All of our clients are also informed about the risks of forex trading.
Our role in PAMM involves technology and liquidity solution provision only. We do not give any advice to the master on how to trade and to the followers which master to choose.
None of the PAMM accounts is recommended or endorsed by FXOpen.
All trading and following decision are made solely by the masters and followers themselves. Our PAMM solution is free to be used by any person who is interested acting as a Master and/or Follower.
We cannot and we will not refuse any of our clients both as Masters and Followers the usage of the PAMM trading solution. This is done with the sole purpose to increase the number of quality PAMM accounts for the Followers to choose from.
Moreover, we are unable to give any advice or intervene with the trading of masters in any way as it is against our business policy and could lead to the conflict of interest and can be considered as the financial advice which we are unable to give.
Please also note that all marketing information available on our website stands in accordance with our customer agreement and general terms of company business ethics.
Further to some points you have mentioned in your post:
---- What do you mean by secure? I agree with easy to access. Because it is very easy to deposit money. Is this the way you secure our money?
When we say the PAMM system is secure it means that it is secure in terms of the inability for the master to move the funds of the followers. The followers’ funds are segregated from the master’ funds, therefore there is a possibility for the master to use the follower’s funds.
This concept is opposed to the LPOA system used by some brokers where the Master manages the Follower’s account and has the possibility to perform all operations including withdrawal and deposit.
----- Further I have attached how a responsible brokerage has begun losing trades and how they are closed incurring great losses.
We would like to draw your attention to the difference between the brokerage and the asset management company. FXOpen is brokerage and a brokerage offers the technical solution for trading as well as connects the counterparties for the opposite sides of the trades. We do not manage clients funds and we do not trade on behalf of the clients or for ourselves. Therefore, it is impossible for us to be losing or winning trades as we do not trade. These are our clients who trade.
----- Please closely monitor in following trading intervals FXOpen has given me any commission as calculated in your system.
May 3, 2016 - Eur 46
May 31, 2016 - Eur 1978
Jul 26, 2016 - Eur 559.05
Oct 18, 2016 - Eur 43.06
We are not sure what these numbers stand for – could you please clarify?
We are sorry that the PAMM account you have followed failed to perform according to your expectations.
We are grateful for your insight and improve our PAMM service.
Kind regards,
FXOpen
Help me getting MY money from scammers
My name is Erlan Saduakasov. Maybe you remember my story about FXOpen.com in October. I’ll remind you the most important facts: I deposited 50 000 USD to this scam company. I made 80 000 USD profit. Then I tried to withdraw my money, but these scammers did NOT give me any penny. They have just stolen it! The complete story with screenshots and phone calls records is available at http://fxopen.info.
In November I got into a terrible accident, I was on the verge of a life and death. Lucky am I to survive. That’s why I didn’t reply to forums and messages for some time. But now I’m back and I still want MY MONEY BACK! Especially now, when I need means for the treatment. Please, help me to do this. Tell my story to the whole moneymaking community.
FXOpen staff still trying to persuade everybody that I’m not real person. So, here am I and here are my documents. Thanks to PoltekFX.com which helped me to record those videos.
If you don't want to lose all your money and be robbed by these disgusting cheaters, do not send them any money. Thank you and I hope you will not let FXopen.com (or whatever other sites they have) cheat on you and steal your money.
The complaint has been investigated and resolved to the customer’s satisfaction.
Hello Erlan,
I have a colleague at work who invested with Secured options with about 58, 000GBP .
he has been trying to get in contact with his agent for 3 weeks until recently
fortune team stepped into his case and has currently recovered 32, 000 GBP ongoing
and they have assured him of recovering the full money.
I lost up to $5k while trading on Binary Options .I tried getting my money out from U-binary option broker account and was unable to place a withdrawal. I found my self wading through excessively complicated terms which seemed impossible to meet, all because I traded with an unregulated broker. I did not panic, I have good news . I lost over $5k to an unregulated broker who stocked my trading capital and denied me access to my account. I have recovered all my lost funds, through the help of a certified binary recovery expert. If assistance is needed, kindly get in contact with danielle6751 AT OUTLOOK COM and you will be guided on effective steps to take and get back all your lost funds in days
I use to be employed by this broker, but resigned my post after they tried to blackmail and intimidate me into not reporting major crimes and scams being committed by other employees against clients.
I also invested in this broker. I was able to recover all my funds with the help of a professional. Happy to share my experience. You can reach me on beewalker003(at)gmaiI(dot)com
hi.
I too had been using FXOpen till the time that I saw this website for broker rating, and saw that the rating for my broker was quite poor. when I returned to the metatrader i found that all trades had been closed with only the final balance on display (1187.85 ). Since then there has been no connection to the servers. I shot off mail to them.
arcot satish
Open Trades:
Ticket Open Time Type Size Item Price S / L T / P Price Commission R/O Swap Trade P/L
[protected] 2011.02.07 23:27 sell 0.10 eurusd 1.3535 0.0000 1.3515 1.3709 0.00 0.00 -174.00
[protected] 2011.02.08 21:55 buy 0.10 eurusd 1.3623 0.0000 0.0000 1.3707 0.00 0.00 84.00
[protected] 2011.02.09 03:32 buy 0.10 eurusd 1.3650 0.0000 0.0000 1.3707 0.00 0.00 57.00
Is FXOpen legit?
FXOpen earns 61% level of Trustworthiness
Good Credibility Notice: FXOpen rated around 61% by Complaints Board. Generally safe, but exercise caution in information sharing.
We found clear and detailed contact information for FXOpen. The company provides a physical address, 7 phone numbers, and 2 emails, as well as 4 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.
FXOpen has claimed the domain name for fxopen.com for a long time, which suggests that the website is established and has a history of being in operation. This is a positive sign, as it indicates that the website has been around for a while and may have a reputation to maintain.
Fxopen.com has a valid SSL certificate, which indicates that the website is secure and trustworthy. Look for the padlock icon in the browser and the "https" prefix in the URL to confirm that the website is using SSL.
Several positive reviews for FXOpen have been found on various review sites. While this may be a good sign, it is important to approach these reviews with caution and consider the possibility of fake or biased reviews.
We looked up FXOpen and found that the website is receiving a high amount of traffic. This could be a sign of a popular and trustworthy website, but it is still important to exercise caution and verify the legitimacy of the site before sharing any personal or financial information
However ComplaintsBoard has detected that:
- FXOpen protects their ownership data, a common and legal practice. However, from our perspective, this lack of transparency can impede trust and accountability, which are essential for establishing a credible and respected business entity.
- Complaints Board has received reports that the website may be a possible fraud. To protect yourself, consider using a different website. If you find that the website is indeed fraudulent, report them to us, to help protect other consumers.
- We have identified high risk financial services or content on FXOpen's website. It is recommended that you use trusted sources and do your due diligence before engaging with any offers or services.
Scam
My name is Erlan Saduakasov and this is to warn you about scammers calling themselves FXOpen.com. I DO NOT OFFER ANY SERVICES to you, and I DO NOT WANT TO SELL YOU ANYTHING. This is only a warning for your
information. If you don't want to lose all your money and be robbed by these disgusting cheaters, do not send them any money. They pretend to be a honest Forex broker, but in fact the STEAL your money, in case you begin to gain profit. What they want - is to make the trader lose and take his money.
The rough facts are: I deposited 50000 USD to this scam company. I made 80000 USD profit. Then I tried to withdraw my money, but these scammers did not give me my money back. They have just stolen it! The complete story with screenshots and phone calls records is available at http://fxopen.info. I contacted police, Interpol and FBI, and the case is being investigated.
I am doing my best to bring this information to everyone. If you gain 500 USD profit - they will withdraw it, and everything seems fine. But in fact, this way they wait for you to deposit USD 5000 or more - and then steal your money. Like a scam HYIP or any other online cheaters.
Thank you and I hope you will not let FXopen.com (or whatever other sites they have) cheat on you and steal your money.
The complaint has been investigated and resolved to the customer’s satisfaction.
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Your case is similar to what happened to me. All my efforts contacting customer service to help resolve my issue failed.
On this website, there is an article about Paige McCubbin and how she has been assisting victims like myself in getting their money back.
In the end, she succeeded in retrieving my locked money and have to deposited to my bank.
I suggest getting in touch with her on Telegram if you need help, her name is; Paigecubbin.
Hi Kaitlyn,
I've heard of Paige McCubbin but I wasn't sure if she was also a scammer trying to deceive others into thinking they can get their money back when they can't.
How has it been for you working with her? Did she charge you any money? How much did you have to pay her to get your funds please?
Your answer would be helpful.
Regards,