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ForexCT / Forex Capital Trading โ€” Fraud - forexct.com did not give me my profits back and has done a runner.

J Review updated:

This company is a complete Scam. They are based out of Australia. The company invited me to start trading wtih them and gave me a deposit bonus for depositing funds with them. They kept sending me emails to trade during their Happy Hour period. I traded with them for 3 months and when I went to withdraw my profits, they cancelled all my profitable trades and returned back just the sums I had deposited using my credit card.

The company has committed a fraud and invites you to trade with them, and then if you loose money they will not cancel any of the trades. But if you make money then will cancel all the trades restrospectively.

I have got all the evidences to prove the scam business they are in. They have frozen my account and have refused to answer any of my calls or reply appropriately to my email replies. I have taken the Legal route against them, but would really appreciate if you stay away from this company and put your claims against this company on this board.

The companys Complaince Officer Daniel Avrahami will try to mislead you and claim that their holding company is based in Vanatanu and hence the investors cannot claim any money from them, though the whole operation is being conducted from Melbourne and Sydney.

This company is a complete scam, and ForexPeace Army moderators have put the strong wording against them on their website as well. They are almost going to recommend a scam finding against this company soon.

Please do contact me if you need any further evidence against them and please help me and the wider community take stringent civil and criminal action against the directors of this company who have actually ran away with my money.

More ForexCT / Forex Capital Trading Complaints & Reviews

Responses

  • Su
    sushilkumar Oct 31, 2010
    This comment was posted by
    a verified customer
    Verified customer

    m also suffring from this problem, what can i do for my returning the fund.


    if u have know any legal action then plz contact me or mail me

    [email protected]

    22 Votes
  • Ni
    ninjaz7 May 29, 2018

    @sushilkumar write to the fair trade umbadsman but only if you have a real complaint

    20 Votes
  • Yo
    YoScammer Dogscrape Jun 28, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @sushilkumar Go immediately and lodge your dispute with the Financial Services Ombudsman who are great and will take control of the matter once you fill out the online form which is quite simple.
    These guys are the ones to call.
    https://www.fos.org.au/

    20 Votes
  • Ch
    changsirui Sep 03, 2013

    Yes, totally agree with your comments.

    My partner suffered materially money, we are going to take legal actions as well.

    Could you please email me your contact details for thoughts?

    [email protected]

    23 Votes
  • Pe
    peipeiau Nov 12, 2013

    similar problem with this company, they erased my cash deposit of USD 20, 000 from my account while I want to withdraw money from them. The compliance officer Daniel Avrahami is an absolute AXXX. I have complaint through fair trading and FOS, I recommend everyone who suffers from them to take this action. I will also take legal action as well, hope I can get my money back.

    24 Votes
  • Ni
    ninjaz7 May 29, 2018

    @peipeiau what did they do to you?

    0 Votes
  • Yo
    YoScammer Dogscrape Jun 28, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @peipeiau Faster and no cost to sort these duds out
    Finanacial Ombudsman

    These guys are the ones to call.
    https://www.fos.org.au/

    21 Votes
  • Pe
    peipeiau Nov 12, 2013

    I am surprised that a company like this can still exist in Australia...

    23 Votes
  • Hc
    H C Melbourne May 20, 2014

    we are going to start a group action for misleading and defective conduct of ForexCT. This company has breached Australia Consumer Law.

    If you want to join our group action, please email us on [email protected] as soon as possible.

    We want to get our hard earn money back.

    24 Votes
  • De
    Deadlyderek Jun 29, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @H C Melbourne I just signed up and did you get your money back as this appears to have been back in 2014, around 4 years ago.

    1 Votes
  • Al
    alenr May 22, 2014

    lucky i didnt get involved here, i requested information and keep getting calls from them... sorry guys but im glad i read this before i went any further!!

    23 Votes
  • Gu
    guessing Sep 14, 2014
    This comment was posted by
    a verified customer
    Verified customer

    Have just run into problems myself with this company. They will not answer my calls so luckily I read this on this site and will now join your action group. I agree how do these companies get away with it... thanks again.

    24 Votes
  • Vi
    Victoria26E Oct 11, 2014

    I also have been problem with this company. They have not responded to my email to return my money. They made me believe that it is a legitimate company inviting me to visit them in Melbourne. Please include me in your action group.

    23 Votes
  • Gk
    GKK Feb 04, 2015
    This comment was posted by
    a verified customer
    Verified customer

    It is absolute cheating... please do not get involved...Really surprised that such companies can operate in Australia

    23 Votes
  • No
    NoMoreFXCT Mar 05, 2015

    This company is a true market maker - which means that they only make money if the clients loses. Most of their staff in Melbourne are shoes sales people who have little or no experience in the finance market. If you make any large profits they will come up with excuses under the sun to either freeze your account and ensure you end up with no profits what so ever. I heard the CEO is not even from Australia. Regardless where the company is registered they have an Australia Financial License and you can have your complaint heard. Lodge it through ASIC or Ombudsmen. And if they received enough complaints the ASIC will be involved to review their processing. Good luck everyone

    24 Votes
  • Th
    thetruth8 Mar 25, 2015
    This comment was posted by
    a verified customer
    Verified customer

    I had similar complaints with ForexCT. I am surprised this company still keeps cheating people. After my complaints, the company even changed my trading information to cover their criminal action. After I lodged complaints with FOS, it seems no progress.
    Please do contact me if you have any advice. And please help me to take action against this scam. My email is [email protected] . Thanks!

    23 Votes
  • De
    Deadlyderek Jun 30, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @thetruth8 Hello I would love to know how tour situation ended up with Forexct, you posted something back in 2015. It is now 2018 and I am concerned having just signed up. Please let me know what happen ASP.

    Cheers Derek

    0 Votes
  • Ne
    Nery18 Dec 26, 2018

    @Deadlyderek Hi Derek i have same situation did you get solution and get your money back?

    0 Votes
  • Ma
    Maat Veritas May 03, 2015

    ForexCT is an Introducing Broker only. i.e. they will charge higher spreads for no reason at all.
    These shysters do not keep your money in Australia but are functioning as an Israeli front for a broker called BForex - and pretends to be Aussie. Will be stingy with your money and even stingier with theirs.

    Examples:
    Will guarantee Take Profit orders but not Stop Losses on Equities.
    Will guar antee all FX orders but will slip you >50% of the time
    Glitchy platform, charts - you will have to email, complain and push on every miniscule issue to get a refund of <$500
    >$500 - forget it
    Will refer any serious clients to a prized variety nitwit called Nicholas Frichot. The last thing this man will do is assist you in your trading. More likely will insist you follow a trading signal generated in the 1980's.
    Will take less than 1 minute to process your deposit but 1 week for a withdrawal as standard. You will have to speak to an Account Manager and beg them to give your back your own money. This process will also require several forms of ID, bank statement and any other document that could potentially slow down the withdrawal. Enough time for you to maybe change your mind and for the Account Manager to have another go at convincing you that paying 4 pips on EUR/USD is a good idea.

    This shop isn't a Trading outfit but a Sales office that plugs you into a 'slot-machine version' of the financial markets.
    If you manage to make money in these tough markets, with these tough spreads and these tough Israeli terms and conditions, you are a soldier of the highest order though.
    That warm and fuzzy feeling is the only benefit of going Live with these shmo's.
    Why not just go direct to a decent international broker that can actually offer you what you're looking for rather than this cheap imitation version that will cost you more than your Deposit to be sure.
    Beware and Avoid.

    23 Votes
  • Ni
    ninjaz7 May 29, 2018

    @Maat Veritas so rue how are these [censored] still allowd to operste in australia

    20 Votes
  • Ro
    Roarrrrr Jun 02, 2015

    Forexct Melbourne they SCAMMMMMMMM.freakin UNBELIEVABLE! !!!๐Ÿ˜ˆ๐Ÿ˜ˆ๐Ÿ‘น๐Ÿ‘บ

    22 Votes
  • Ca
    Capote Jul 22, 2015

    A complaint is best lodged with ACCC, Australian Consumer and Competition Commission. ACCC has the "teeth" to take the scammers to court. You can get together or complain individually. ASIC needs to be notified as well as Financial Ombudsman. Individual legal action will be very costly and probably not worth it. In Australia it is very difficult if not impossible to extract money owed, if someone isn't willing to pay, even with a court order. Most scammers are well aware of what they can get away with. Approaching A Current Affair (chanel nine) seems to be effective in exposing a fraudster to a large audience with some degree of redress success.
    My feeling is you can say goodby to your money especially if the directors are in Israel. Their licence can be cancelled, though

    23 Votes
  • Wa
    Walter Woods21 May 31, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Hi I have just signed up with this Company, and yes I lost all my trades listening to the advice of these Brokers, especially one called Lee Boutiche who has an accent and is asking me to deposit more money, I am now beginning to believe that I have been scammed!
    If you are also having problems let me know via my email address [email protected] we kneed to weed out these
    People whoo rip people off and pretend to be genuine when they are not!

    20 Votes
  • Su
    Sudish7278 Jun 18, 2016

    It seems like most of the people on this thread either are forexct's competitors or ex employees. I have been trading forex with a number of different aussie brokers over the last 12 years (including with ForexCT) and have never had the issues which are described here. If you have a genuine dispute with a broker like forexct then by all means call them up on it and go through their internal dispute process. If they were a "scam" like some of these very dodgy binary providers then asic would have shut them down. Retail traders, especially in australia are quick to judge regulated brokers as scams but in reality most retail investors are just whingers who are looking for someone to blame when they lose money.

    -40 Votes
  • Ni
    ninjaz7 May 29, 2018

    @Sudish7278 sorry but they do lock you out of early morning trades at start of the week. and do recomend [censored] treades. most of them havent a clue

    20 Votes
  • De
    Deadlyderek Jun 30, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @Sudish7278 Thank you for a good post and I trust you are right. I signed up with Forexct last week and while a difficult learning kerb results met my goals. My only thing now is to withdraw some of the profits and continue on next week learning more. Were you able to withdraw your money from Forexct without problems. I will find out Monday or Tuesday.

    Cheers Derek

    -4 Votes
  • Ch
    Chris Freemason Oct 09, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @Sudish7278 Your a fkin [censored] Jew - Employee ?? Knob polisher @4XCT ?

    20 Votes
  • Ch
    Chris Freemason Oct 09, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @Sudish7278 Your a carpet boy for management and love it don't you. Under the desk gobbling knobs all day for pokie coins. Go away and take the salty smell with you

    20 Votes
  • Le
    Lemmon46 Feb 19, 2019

    @Chris Freemason I haven't traded before and don't know much about Forex ct. I am just doing some research at the moment. You could have a real dispute with them - i don't have an opinion about forex ct one way or the other. However i dont know what someones religion has to do with anything. You sound like a real piece of gutter trash.

    -13 Votes
  • Al
    Ali Daher Jul 03, 2016
    This comment was posted by
    a verified customer
    Verified customer

    The same issue happened to me.. They refused to release my money that I had won and then removed all profits from what would have been a significant winning

    23 Votes
  • Fx
    FXctBossBashedincarpark Sep 13, 2016

    Hello there well i have a bombshell here. I gave these scammers over 8000 dollars and was gone within a month but with 5000 of that money i ran legit tests and documented and filmed it all i have all the proof in the world to display about multiple hidden cheats, slides, three way shut trade before it shuts, numbers changing on platform, single changes as if me vs platform and no one else, multiple lies recorded. Cross examination storys not matching, and better than that which is absoloute SHUTDOWN material without a doubt. these guys are a disgrace and if court comes about they dont have a chance with my info added with these peoples get our money back for sure

    22 Votes
  • Ni
    ninjaz7 May 29, 2018

    @FXctBossBashedincarpark [email protected] is my mail they are fkn lying [censored] trash. send me an email

    20 Votes
  • De
    Deadlyderek Jun 30, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @FXctBossBashedincarpark Hello what happened with Forexct as I have just signed up and concerned now after all these posts. I see your post was back in 2016 so did you get your money or resolve the problem.

    Cheers Derek

    0 Votes
  • Ja
    jamesy1947 Jul 03, 2018

    @Deadlyderek Hi Derek did you manage to do a withdrawal ?

    0 Votes
  • Ch
    Chris Freemason Oct 09, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @FXctBossBashedincarpark Well does ASIC have a copy ?? Shut these C"NTS down

    20 Votes
  • Fx
    FXctBossBashedincarpark Sep 13, 2016

    i over heard a couple of people talking about this FOREXCT in the supermarket checkout and i could not help to open my ears up to what they were talking about because one of them was extremely angry and wild, she was saying to her friend how a couple of the staff at forexct were like actors i think and are going to be really beat up, like something about food and straw and out of no where and stomp or stompede and head cave paintings or punchings and i could only get dribs and drabs, so i moved closer and her friend said I love that Game of throans show. And she had a fox and a cat book for her kids i think she said . So i guess thats what you get for being a bad person and doing the wrong thing, you get all the wrong information and make up your own story which in end was nothing but rubbish and bull...

    18 Votes
  • Di
    diamondsbay Jan 23, 2017

    I have done a website checkup and it says that they are based in Isreal.
    https://safeweb.norton.com/report/show?url=http%3A%2F%2Fwww.forexct.com.au%2Fhome

    23 Votes
  • Yo
    YoScammer Dogscrape Jun 28, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @diamondsbay Probably born as orphans from a brothel there ?

    20 Votes
  • Gi
    Giggity__ Jun 26, 2017
    This comment was posted by
    a verified customer
    Verified customer

    Definitely true! I used them for a short period and noticed a number of major issues, one of which was that their platform (especially any open trades) are incredibly slow to update when you're in profit by anywhere between five to over ten seconds. The staff give sales pitches over any legitimate information. They do have an office in melbourne but they're run out of Israel. The trading central emails are falsified enough to make you lose money over gain. I doubled my money in a few days but then noticed that I would suddenly lose nine of ten positions. Their is also a large difference between the negitive (loss) price jump and profit price jumps which again change after your balance has fallen below your initial deposit. I tried pulling my money out when I made what I wanted but all requests were refused.

    These people are [censor]. Pure and simple.

    23 Votes
  • Ni
    ninjaz7 May 29, 2018

    forex ct are a complete scam. they all tout big titles like senior account manager yet they cant trade for [censored]. even though they say that you can make money with 500 dollars they bait you watch u loose and loose and loose then ask for more. they offer credit and more credit but give you nothing other then yesterdays obvious news. if all you have is credit left do not reinvest just blow it all. very cunning pretend to be trust worthy but cant trade for [censored] ever their jobs are to make you loose money. and nothing more. flipping a coin will give you better rresults.

    21 Votes
  • Ni
    ninjaz7 May 29, 2018

    @ninjaz7 and yes i had to make a complaint to the umbadsman to get their attention

    21 Votes
  • So
    sonikthekronik Jun 11, 2018
    This comment was posted by
    a verified customer
    Verified customer

    Yep, totally scammed. I deposited $500 and they gave me bonus credit then persisted to call me daily until I deposited a further $9500 and offer sweet deals and threaten to take them away, emails, texts, total bombardment until I deposited the 10K. They then gave me bonus credit and 10 protected trades, 7 of 10 protected trades finished profitable but were small position size (10000) so realised small profits. They then proceeded to bombard me with trade signals, nearly all of 30-40 signals went against me some very badly, one such signal I was distracted by a visitor and forgot to stop loss and returned 15 minutes after the recommendation to find it going against me at the rate of $100 per second and unable to close out due to the rapid price move. The only trades that went well were the ones I placed exactly opposite of recommendation. The currency and commodity prices sometimes don't reflect the true price as shown on other platforms at the same time, and there is no time and date on the close of trade details. The account manager was sometimes very effective in a passive aggressive manner at convincing you to deposit money, more money and after I lost the entire amount of my deposit plus their credit, more money. When watching the charts for hours you notice perculeure price movement repeats in some things like Bitcoin, like the thing is on a loop tape repeat and no-where is there an account number attached to your file. Beware, very professional scammers who keep you busy until it is too late, just as you realise you have been scammed.

    22 Votes
  • Yo
    YoScammer Dogscrape Jun 28, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @sonikthekronik Quite am accurate appraisal - Applause 5 Stars

    21 Votes
  • Ga
    Garri_ Garry Jun 26, 2018

    Hi anyone taking any legal action against them I want to join .. please email [email protected]

    21 Votes
  • Yo
    YoScammer Dogscrape Jun 28, 2018
    This comment was posted by
    a verified customer
    Verified customer

    Cockroaches and filthy rats pretending to be people.
    Their time will come

    If you get stung, write emails, take screenshots, keep a bag of evidence to dump on them later once you have been robbed or left helpless by the dodgy trading platform errors that appear from nowhere and prevent you trading when it's most critical.

    21 Votes
  • Yo
    YoScammer Dogscrape Jun 28, 2018
    This comment was posted by
    a verified customer
    Verified customer

    Chris Mr Aqusuition Freeman from 4FailXct.com you can share this with your buddies at the office

    10 Votes
  • Yo
    YoScammer Dogscrape Jun 28, 2018
    This comment was posted by
    a verified customer
    Verified customer

    Christmas at Forexct.com flyer to hand out for you whankerrs

    22 Votes
  • Yo
    YoScammer Dogscrape Apr 24, 2019
    This comment was posted by
    a verified customer
    Verified customer

    Fed Police & ASIC Raid ForexCT After Customer Complaints
    22
    Mar, 2019
    by Riya Joshi

    The global forex trading market is thriving as investors look to capitalize and make quick profits. Forex trading has a lot of positives and some negatives. Unfortunately, this attracts conmen and grifters which can put the entire forex trading industry in a bad light.

    Recent reports from Australia are troubling for the industry as the Australian Federal police and the Australian Securities & Investments Commission (ASIC) raided the Melbourne office of an online forex broker who was allegedly harassing and pressuring clients.

    The offices of ForexCT was recently raided and the authorities decided to freeze company accounts along with the accounts of its director Shlomi Yoshai. Mr. Yoshai has also been stopped from leaving the country. As one of the 70 licensed forex brokers in Australia, ForexCT has been selling its services to Australian residents for a number of years now.

    However, it appears that the company was not completely legit as the warrant for the raid also had the names of several ForexCT employees. Additionally, reports show that the ForexCT clients have been under pressure from the company to invest hundreds of thousands of dollars in forex. All of which was subsequently lost.

    Though naturally risky, forex losses of this level are suspicious. Which forex trading is technically legal in Australia, the ASIC does give out warnings that forex trading is incredibly volatile and requires a lot of knowledge to do properly.

    Customers Conned Into Investing Everything
    This raid comes after reports that a 73-year old retired trader lost $270, 000 of his superannuation to the broker. Fransisco Marques claims that he was cold-called last year by ForexCT and was convinced to invest $500. This started him on the path to losing a lot of money to the broker, with the worst transaction being $120, 000 in one night. The end result is that Marques has lost everything.

    In a statement, Diana Marques, his daughter said

    My dad is so risk averse. This is a man who has worked his whole life seven days a week, 12, 15 hours a day, saved all his money, saved his superannuation, all of this and just being been really tight with money. They would have pushed him to just keep going and going and going, and invest more and more and more. I can see how my dad would have not known what he was doing and trusted what they were saying.

    When Mr. Marques called ForexCT to check on his account to try and withdraw his money, it was nearly impossible to do it. Additionally, the representative that answered convinced him he was doing well and he just needed to invest more. Mr. Marques is one of the customers who have already lodged a complaint with the Australian Financial Complaints Authority (AFCA) for his losses.

    0 Votes
  • Yo
    YoScammer Dogscrape Apr 24, 2019
    This comment was posted by
    a verified customer
    Verified customer

    GOOD RIDDANCE

    Comments

    0 Votes
  • Yo
    YoScammer Dogscrape Apr 24, 2019
    This comment was posted by
    a verified customer
    Verified customer

    WANKERS GOODBYE - GET A REAL JOB YOU MAGGOTS

    0 Votes
  • Ra
    Ray Cardozo Sep 08, 2019
    This comment was posted by
    a verified customer
    Verified customer

    I also had a bad experience in trading. Idid lost all in total and whenever I try to cash out one story or the other keep coming up to me at every giving point of time so i gave up on them. After several weeks, I came across this agency, expert recovery that helped me get back about 75 percent of my lost funds. I learnt there is a class action proceeding, but I believe that takes more time and money paid to lawyers is way expensive. You can talk to a recovery expert, ASHERELLAZAR on protonma1l

    0 Votes
  • Bi
    Bill Rush Oct 29, 2020
    This comment was posted by
    a verified customer
    Verified customer

    To everyone looking to get their money back, or at least ask some pertinent questions without waiting for the Federal Court process --- you could always visit the place where the Director of ForexCT -- a man named Shlomo Yoshai resides and ask him directly:

    32 Victor Road
    Bentleigh East
    3165
    VIC

    This guy was embroiled in the Panama Papers scandal. Who woulda thunk it?
    https://offshoreleaks.icij.org/nodes/13010793

    0 Votes

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