InvesttechFX broker problem with withdrawal

Stelen · #1 12-22-2009, 12:00 PM

I have sent them a withdraw notice for $ 500 usd to my paypal account ( from which I have made the deposit), they wrote back that my request is in process. Few days later still no money I wrote them again, then they said that I have made some standard trades on my mini account and refused to send me the 500 USD. On Dec 1st 2009 I had 2 open positions of trading, that day they closed both positions without any explanations with a loss of -290.00 (in my account at that point had free margin over 2200 USD). I wrote to them that I want to close my account immediately and withdraw all the funds. They wrote me back that they offer me $ 500 USD and close my account. I said NO, they offered 800 USD, I said NO and I wanted me to see all my trades in details describing my ''supposed illegal trades'' then the offer was 1000 usd. I said NO, I was still demanding explanation how they get to 1000 USD from 2200 USD. Never got a answer or explanation, I wrote to BBB in Canada, but nothing happened yet. So I just want to get my funds and close the account simply. In your opinion this legal and they have all the rights to offer me only a fraction of the funds? (even sending me detailed explanations how they get to 1000 USD from 2200 USD?)
Any suggestion/opnion is welcomed since I'm new to forex trading, also I can forward all email commnunications between me and InvesttechFX if anyone interested.
Almost all communications stopped from them, and so far I have not received any of my money yet.
Is this legal? or can I do anything about it? As far I'm considering they are a scam broker and just want to warn other potential and current investors.

As of today still waiting for answers to the key questions I have ask InvesttechFX, they have no courtesy to even respond to my emails, they are a scam broker.
I would like to hear your opinions on this issue.

Thank you Lenka

^eagle^ · #2 12-22-2009, 06:44 PM

Quote:

Originally Posted by Stelen

I have sent them a withdraw notice for $ 500 usd to my paypal account ( from which I have made the deposit), they wrote back that my request is in process. Few days later still no money I wrote them again, then they said that I have made some standard trades on my mini account and refused to send me the 500 USD. On Dec 1st 2009 I had 2 open positions of trading, that day they closed both positions without any explanations with a loss of -290.00 (in my account at that point had free margin over 2200 USD). I wrote to them that I want to close my account immediately and withdraw all the funds. They wrote me back that they offer me $ 500 USD and close my account. I said NO, they offered 800 USD, I said NO and I wanted me to see all my trades in details describing my ''supposed illegal trades'' then the offer was 1000 usd. I said NO, I was still demanding explanation how they get to 1000 USD from 2200 USD. Never got a answer or explanation, I wrote to BBB in Canada, but nothing happened yet. So I just want to get my funds and close the account simply. In your opinion this legal and they have all the rights to offer me only a fraction of the funds? (even sending me detailed explanations how they get to 1000 USD from 2200 USD?)
Any suggestion/opnion is welcomed since I'm new to forex trading, also I can forward all email commnunications between me and InvesttechFX if anyone interested.
Almost all communications stopped from them, and so far I have not received any of my money yet.
Is this legal? or can I do anything about it? As far I'm considering they are a scam broker and just want to warn other potential and current investors.

As of today still waiting for answers to the key questions I have ask InvesttechFX, they have no courtesy to even respond to my emails, they are a scam broker.
I would like to hear your opinions on this issue.

Thank you Lenka

I would talk to the forex peace army and state your case there. www.forexpeacearmy.com

They love to sniff out scam brokers. Another good one is www.pipcop.com
Be sure you do your due dilligence and find out all you can about a broker before choosing. I personally like FXDD although they recently became affiliated with NFA. Not sure how the whole FIFO is going to work with supercharged.

A second choice is FXCM UK.

But like I said read all reviews you can about a broker before choosing.

Stelen · #3 12-23-2009, 05:19 AM

Quote:

Originally Posted by ^eagle^

I would talk to the forex peace army and state your case there. www.forexpeacearmy.com

They love to sniff out scam brokers. Another good one is www.pipcop.com
Be sure you do your due dilligence and find out all you can about a broker before choosing. I personally like FXDD although they recently became affiliated with NFA. Not sure how the whole FIFO is going to work with supercharged.

A second choice is FXCM UK.

But like I said read all reviews you can about a broker before choosing.

Thanks,

I'm working with forexpeacearmy to resolve this issue.

Stelen · #4 01-15-2010, 03:58 PM

Hello all,

I have received all my funds from InvesttechFX today, my account is closed.
Thanks to FPA and all of your comments.