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Xtrade review: Beware! 47

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Author of the review
6:16 am EST
Verified customer This complaint was posted by a verified customer. Learn more
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Hi guys, I am amazed that there is so much online stuff about how fraudulent this company is! I was signing up for another product through a website and was asked if I wanted financial advice about trading stocks so I clicked yes. Within a day someone called me and kept on bugging me through out! I then told them I would get paid at the end of Jan and they called me back around then. At that time I was busy and asked for a call back at another time. I was called today and it all seemed a bit dodgy to me. They asked me to transfer money from my credit card or debit card to the online trading account then told me that they require a paper photocopy of the back and front of my credit card! When I said I would not be doing this, they gave me the option of transferring money to someone with a greek name through western union. I disconnected the call then decided to look online for reviews of XFOREX and believe me, it wasnt pretty. I am closing my account now. Thank god I didn't invest any money!

47 comments
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Robert Milovic
Yugoslavia
Feb 13, 2009 7:06 am EST

Well Mr. xForex trader, let me tell you that you are not the only one to have been robbed by xForex company. That happened to me too when I tried to withdraw my money after several months of active trading. What I would advise you to do is to prosecute them to the international court of law, that`s the only way that you can get your money back ! Be free to contact me : srmilovic@gmail.com

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Robert Milovic
Yugoslavia
Feb 13, 2009 7:13 am EST

Well, Mr. xForex trader, you are not the only one to have been robbed by the xForex company. That happened to me too when I tried to pull my money back after several months of active trading. The only thing that you can do here is to prosecute in the court of international law !

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ssssss
fujghjg, GB
Feb 22, 2009 11:46 am EST

hi mr fx broker
i want help you to recieve your money back
send me please your email address and i will help you i promiss
thank you
miss forex

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Voice of the tomb
Boise, US
Apr 11, 2009 1:09 pm EDT

Outy and out forex scam. I opened an account and earned seventy USD
on my first trade. I submitted a witrhdrawal and WHAM - XFOREX
disputed my documentation; ie., my passport was not fully photographed, my credit card number was innacurate. BALONEY!
All documents were correct. AND THIS OVER ONLY 70USD! Imagine a sserious amount. After two weeks of correspondence they said they would send me my funds. NEVER DID.

A TOTAL FRAUD. THESE PEOPLE ARE CRIMINALS.
YOU ARE WARNED. BEWARE!

Voice of the Tomb

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Hemang
London, GB
May 11, 2009 12:06 pm EDT
Verified customer This complaint was posted by a verified customer. Learn more

An update from my previous post, the customer care of the company on dealt with the dispute in a professional manner in due course, further to me employing a 3rd party professional to discuss the dispute with them. The issues were resolved amicably in the end and we reached a settlement which was satisfactory to both parties. Therefore I have to say that what I said on my earlier post does not apply
- Hemang

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dalan
London, GB
May 20, 2009 4:11 pm EDT

you are probably laundering money.

Every company that transfers money to a bank account has to have the proof of existance of the person that is claiming the money. Paypal also asks your copy of the id and utility bill and credit card. This is actually required by the international anti moneylaundering law.

A company that doest require that is actually the frauder.oldmine

I have been trading at xforex succesfully for the last couple of months now and they actually helped me earn money with their 24/7 availeble account manager and trading expert. And I withdrew succesfully allready more than I deposited.

xforex is actually amazing. my personal goldmine :)

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cecile jourdan
FR
May 25, 2009 4:32 am EDT

hi traders makers, I just had to say that I complete desagree with you robert, those brokers are extremelly proffessionnals.I started to trade with a small amount like 500 $ on nov 2008 and 3 weeks ago I found myself with a profit of 1500 $.I wanted to withdrawal and I did it successfully in 3 days.If they were a fraud I couldn't see the money.I still trade with them succefully.They helped me a lot.

Thanks to them,

Cecile.

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JACOBSON
AU
Nov 02, 2009 5:28 am EST

THE IS POLICE INTERNATIONAL FRAUD SQUAD INTERNET THE IS LOT OF HELP THERE IF YOU LIKE TO FIND OUT IN GOOGLE FULL SITE OF POLICE INTERNATIONAL FRAUD SQUAD THIS IS ONLY SOLUCTION TO GIVE TO YOU BELIVE ME WORK 100%
GOOD LUCK TO GET YOU MONEY SOON JUST A FRIEND

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Fernando Guzmán Cavero
PE
Nov 17, 2009 12:20 pm EST

I only have to thanks, to this site. I decided to take off xForex pomotional banners frommy site. Fortunately, I never introduced them a client, My pages in my websites www.contratosforex.info, www.financialandforex.info, and my blog www.fgcbolsa.blogspot.com are open to this page and to anyone victim of financial fraud.

My Sincere Congratulations.
Fernando Guzmán Cavero
fernandoguzman@contratosforex.info
news@financialandforex.info
fgcbolsa@fgcbolsa.info

°You can find in the web also as; fernando guzman cavero, financial and forex info, fgc bolsa, forex contracts daily news, domains all whic belong to me, and are well ranked.

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Allen Bayer
CY
Nov 18, 2009 1:02 pm EST

THESE PEOPLE ARE A COMPLETE SCAM. And the complaints written by Cecile up top is written by one of the employees. They dont tell you that you are actually playing against them! So when you lose, they win. There is actual market! They are their own market. Thats why I still have not seen my money returned to my account. And yes, I have sent all the paperwork and documents.

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Van_
US
Nov 24, 2009 10:02 am EST

Total Scam based in Israel with no license or regulatory oversight. Not only do they trade against you they often will move prices more than the official quote. If you plan on trading forex do it with a US Based regulated entity like FXCM or GFT.

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Encrypt
Perth, AU
Nov 26, 2009 4:03 am EST

While I do not think that XForex is trying to be intentionally terrible in any way I definitely think that they are a terrible forex company.

Their software is incredibly buggy and has failed every time I have made trades.
Their entire website has failed because of the bugs on several occasions. They almost refuse to admit that there is a problem with this at all.

My advice, and opinion, to anyone who is thinking of using Xforex is to NOT use it.
Find a better company, one that is regulated in some way, or is in your country.
Their system would be good if it worked, but they prefer to protect themselves with 'company policies' than to fix it.

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cecil.lee16
SG
Dec 21, 2009 8:38 pm EST

I have just requested for a withdrawal of my deposit. I hope i can get it back

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cecil.lee16
SG
Dec 21, 2009 8:41 pm EST

I will update the status of my withdrawal on this website and other forex websites.
If there are any people from xforex, read this:

I want to get my deposit back. If there is no action or response from xforex. I will make sure everyone in the web knows about my problem.

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mohammad1971
BN
Mar 14, 2010 11:30 am EDT

my name is mohammad i did open an account pass two week, guy im scare what am i the next victims of forex scam email me mad19711971@yahoo.com

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x-Cop
ZA
Mar 27, 2010 10:46 am EDT

XForex Users,

Please send your complaints to me at cobus@gmx.com with regard to XForex. We have light at the end of the tunnel regarding the continuous fraud, and might actually get your money back.

X-Cop

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yinsin
SG
Apr 05, 2010 8:18 pm EDT

I just opened an account with XForex and trying to withdraw the amount deposited to check whether the service is reliable or not.
As the site indicate,
"Your request for withdrawal is being processed and will be carried out within 3-7 days (assuming all required documents have been sent). For inquiries, please contact a company representative at +[protected], or send an email to: banks@Xforex.com
For inquiries, please contact a company representative at +[protected], or send an email to: banks@Xforex.com"
I sent email to the above address to clarify what the "required documents" are. To my surprise the email could not be delivered and the phone number has been busy all the time.
I will report what happens next.

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wickedascention
Apr 13, 2010 7:46 pm EDT

yinsin, I have also just opened an account with XForex and am trying to withdraw the amount deposited to check whether the service is reliable or not.
I also got the same message as you. However, I tried online chat and received the information below (see quoted conversation below). I also called this number [protected] and I spoke with someone that says the same thing.

Sam: In compliance with International Statues in identity theft and money laundering,
Sam: I am required to inform you of our validation procedure.
Sam: As states in our terms & conditions, you are required to provide proof of identity in order validate your account and to withdraw any balance from your account.
Sam: To complete the validation process, you are to supply us with the following:
Sam: 1) Photographic identification and proof of address.
Sam: 2) If you are depositing via Credit Card you must also supply proof of ownership of the relevant card.
Sam: Photo ID means a clear and legible photocopy of your passport (where relevant).
Sam: Proof of address means a recent utility bill clearly displaying the name and address that you supplied in your account information.
Sam: Proof of Credit Card ownership means a clear and legible photocopy of both sides of the card you used to deposit funds & a signature at the back.

(I was also told to erase the first 12 numbers on the front scan of the credit card and the CVV number on the back)

Sam: (A Credit Card without a signature will not be approved)
Sam: You can send scanned copies of your documents to us by email at:
Sam: billing@xforex.com
Sam: Or fax them through to +[protected].
Sam: When emailing documents – please write in the subject your username / first + last name

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yinsin
SG
May 28, 2010 1:00 pm EDT

Thank you for your info. I tried the same and finally got hold of them.
After several days, I got my credit card report showing the money was not withdrawn. Since they never withdrawn, I didn't get the $200 bonus.

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yahya1990
BN
Jun 21, 2010 10:00 am EDT

Hmm i did deposit but no bonus, must spread the word what happen to this broker what happen, what happen what happen, this is the first time i stumble across this broker, are u try to play joke with us ?

Hey dont u know xforex will be available in singapore ohh how truly wonderful its my next door neighbor.

My email is metal.head1@hotmail.com

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Hanso
mvv, AU
Nov 02, 2010 6:48 am EDT

My situation is i had a limit order to buy AUD/ USD today on the news event and i made 70 pips profit .

After i profited this trade xforex rang me and they said they will have to cancel the trade as they believe there was a gap and the price i closed my position wasnt in the market .

I did check my chart and i found everything is correct and also i use two chart from FXCM & xforex and they were same .

Please help me what should i do because they are trying to take my money back, i made $30000 and trying to take evryhing back

Regards

Hans

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ankit1
IN
Nov 19, 2010 3:30 pm EST
Verified customer This complaint was posted by a verified customer. Learn more

Maxforexonline. Biz website is not open why?
Pls tell me

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Sasson
IL
Nov 22, 2010 11:41 pm EST

xforex.com is Israeli company has nothing to do with brokerage!
They are not clearing any position or any trader... so they will lose every cent you may earn on their system...
So they will do their best to decrease the chances of withdraw, like giving you bonus and requiring you to generate HUGE volume in order to be able to withdraw any amount, even your deposit!
XFOREX, and other brokers survive because of the damn fact that 90% of the traders loose! 90% at least of you guys loose their money trading forex, even on the best platforms, with the best brokers or even banks! this is a fact...
Once you made some profit, ad you are "so lucky" falling with such "broker", you wont see your money back!
My suggestion is dont do forex, specially not with such companies...
regarding the funds you lost my friend, you may contact the IL SEC here http://www.isa.gov.il/Default.aspx?Site=ENGLISH&ID=ContactUs
Good Luck,
Sasson

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DanielNeil012
NZ
Feb 20, 2011 7:53 am EST

jabbercam.com ran with my cousin's money!. never trust this company. They are also copying stuffs from the 100% legal site: jabberclub.com
I thought to share this with you.

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Bunga
SG
May 25, 2011 2:30 pm EDT
Verified customer This complaint was posted by a verified customer. Learn more

Hi,

I applied to this wanting to find out what the site looks like, as i've nvr done this before. I didnt deposit and money whatsoever then i received a call a 7mins call from somebody introducing me to this world of trading currencies. After reading reviews i got worried that that call will be charged (anything can happen these days, even a one minute call can make u pay thousands in e next bill) since i'm living in e eastern part of the world. And how do i actually 'delete' myself entirely from xforex.com.

Had a live chat with one of e service girl. Asked hw do i do so, she kept saying just unsubscribe, but i cant really find e button.

Please help! Just dont want to have any relations with any of this. Thanks.

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sami kumer
TH
Mar 17, 2012 11:33 pm EDT

Hold on guys and relax guys, better not to complain as me in the beginning, just try to find better broker with better deals, since i stopped trading with xforex i converted to forexcontrol. which is much better for me as an indian . it has many currencies and commodities much more than other xforex iforex specially the indian CFDs like NSE-BSE with the best chart and analysis .Good luck to you all guys .

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abdul vakeel
IN
Jun 15, 2012 10:29 am EDT
Verified customer This complaint was posted by a verified customer. Learn more

xforx is very good i am india i only use xforx 1 month i like xforx trading

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Ntokozo247365
ZA
Jun 20, 2012 6:13 am EDT
Verified customer This complaint was posted by a verified customer. Learn more

I am shocked to read about such complaints in relation to XFOREX. I am currently interacting with a lady by the name of Tina Aniston. Her number as it appears on my cellphone is +5555817 and she told me that they are based in Australia. She has just sent me an email that has instructions on how to transfer my money into their account. She instructed me to go to my bank physically or online and ask to process a wire deposit. She told me to put O.C.M ONLINE CAPITAL MARKETS LTD as a beneficiary. The bank is BARCLAYS BANK, First Floor Office 1C, Cnr. Koumandarias & Spyrou. Araouzou, P O Box 50457, 3605 Limassol, Cyprus. Bank Branch country- Cyprus. Account Number [protected], Currency- USD IBAN-CY38 [protected]. Swift- BARCCYNN. She then instructed me to forward a scanned deposit receipt to billing@forex.com. The only thing that seem to bother me is the fact that they have not yet taught me how to trade. I do not even know the difference between commodities and currency and yet she seems to be determined to have my money transferred to their account. I seems rather dodgy to me. Do these details sound familiar to anyone who lost his or her money through XFOREX?

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Biju Valsal
IN
Jul 24, 2012 9:32 am EDT

Hi all,
I am an indian and was seriously in search of how to start forex trading and got xforex.com. After my visit to that site, u guy who claims he is the business executive of the company makes frequent calls to invest money to xforex through my ICICI or AXIX Bank Credit/Debit card. But he says they can't accept money through my SBI Card. Suddenly i felt something wrong and i searched for forex frauds and found this site very much guiding. Thank u everyone for the posts u have done. SO BEWARE OF XFOREX.COM. A TOTAL FRAUD COMPANY... DON'T INVEST IN IT... Now the guy will call me tomorrow (25th July 2012) for further guidance. I am sure he will hear rotten egg language from me...

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Meet Walia
IN
Aug 16, 2012 3:24 am EDT

i want to file a complaint against the executive of xForex company who treated me like a hell. and he dont have respect to the costumers previously i was interested to trade my 1 lakh Indian rupees in your xforex firm but now i have change my mind because of your executive named IJAAZ IDROOS.
Am this much hurt-ed and insulted if ill be seeing him by now ill cut him into pieces..

f*** you Mr. IJAAZ IDROOS
his last mail to my personal id is
IF YOU ARE NOT INTRESTED, BE STRAIGHT ENOUGH TO SAY IT, WITHOUT WASTING MY TIME AND YOURS BOTH. AND NEXT TIME IF YOU WANT YOUR NAME SPELLED CORRECT MAKE SURE YOU ADD IT IN YOUR NAME BOX. Do whatever coz we see thousand customers like this for a day.

guys you tell me is this language is good to customers.

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sadmimi2012
NZ
Sep 24, 2012 1:27 am EDT

THE ONLY THING I CAN SAY IS ((BE AWARE OF THESE PEOPLE)) KEEP AWAY FROM THEM AS MUCH AS YOY CAN.

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ani.menaka
IN
Nov 15, 2012 3:09 am EST

hi i started to trade in xforex jst last month investing 50$ and now have made 358$ of profit i m really proud to choose xforex
and i have correctly uploded my documents and withdrawed 200$... its all about us how we trade its not about the cpompany.

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Alidxb
AE
Dec 17, 2012 8:10 am EST

I wana open a account at Xforex is it the good co, or only fraud.
Thanks
medical_lab2000@yahoo.com

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Lucas Ton
PG
Jan 07, 2013 4:43 pm EST
Verified customer This complaint was posted by a verified customer. Learn more

I receieved calls after I register with Xforex for my demo account. I've made successful trades over the last few weeks and wishing to open up my real account so I could trade online. I am confused if this is going to work. Please I need someone with experience to assure me of xforex. My email address is lucas9ton@gmail.com

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ltjg j de jesus jr
PH
Jan 11, 2013 7:04 pm EST

xforex call almost daily a a week now i deposit my cash now no more call and my money in bank is gone the person caling me is name megan +[protected] now all web site my accnt just i sign in first say trading bussiness a block you cant anymore to log in, , , , , , , , all out thre this a big leason for this company

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ckengineer
IN
Mar 21, 2013 5:16 am EDT
Verified customer This complaint was posted by a verified customer. Learn more

Hi ani.menaka,
do you have tips for xforex customer, like how to trade to make good profit ?
Even i am a xforex customer since Nov 2012, initially i made deposite of 250$ and made a good profit up to 750$ later on i have re-invested all of my money and lost everything out of my account, after that i have made subsequent deposites like 50$ for four times, all of my money gone now my account balance is 2$. i dont know whether it is because of my bad trading techniques. Do you have tips to make successfull trading? How to evolvuate a good position?
Thanks,
Karthick ( kar_2770@yahoo.com)

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ANANTHAKRISHNAMURTHY H S
IN
Apr 12, 2013 12:25 am EDT

I
SIR,
WANT TO WITH DRAW SOME AMOUNT. BUT IN THE WITH DRAW FORMAT ONE CALUM i.e. IBN/ABA/BSB ROUTING NUMBER WHAT IS THAT NUMBER? WHERE CAN I GET THAT DETAILS. PL CLARIFY. MY eMAIL IS ananthakrishnamurthyh@rocketmail.com
pl replay.
anantha krishna murthy h s

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avadhraj yadav
IN
Jul 22, 2013 9:50 am EDT

i also got a call from x Forex she told me deposit 5o $ security amount so that she will give me tranig how to triad an dalso said u can withdraw ur money whan ever u want.
now i am trying to withdraw but they are rejecting again and again my request saying that u have sent only part of the document.
please help me

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preeti naik
IN
Aug 19, 2013 1:35 am EDT
Verified customer This complaint was posted by a verified customer. Learn more

can i invest in x forex or no? please suggest me

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Mohammed KSA
SA
Sep 01, 2013 1:54 pm EDT
Verified customer This complaint was posted by a verified customer. Learn more

I am one of the victims of this fraudulent co XFORX
WE all Should stand against this gang. WE call need to contact "Fraud monitoring deprt." in each client's country and bank.

It’s all about this fraud Xforex Company located in Cyprus having a telephone useless number in UK where they push you away or deny your calls and emails once they caught you in their trap.
Like everybody talked about his story, I passed through the same from the call of the salesman till the deposit + adding to that deposit till more than 10 thousand USD.
Upon observing their behavior, i.e. they conduct most of their business by attracting customers in the Middle East especially in the Gulf area.
They make use of the lack of financial and legal awareness among people in some of those countries plus their need of money to catch clients to join them.
Unfortunately, for marketing, they also mention some agreements they claim they have made with some international banks and commissions as well as some local banks in the country of the targeted client to shadow their fraud with a trust.
Once poor clients (unfortunately I was one of these victims) are caught, they appoint an “account manager” who keeps tricking them by giving them cheating false misleading instructions (not advises) that lead to an absolute definite loss! Or trap them in a kind of financial ambush to prevent them from the ability to keep their invested capital to withdraw!
These kinds of fraud and non-integrity immoral actions have caught a big number of people who raised complaints to their banks- running their accounts or issued their VISA cards- objecting these fraudulent transactions, (you may check this info with “Faud monitoring” Dept. with your bank.
I’m one of their victims subjected to their fraudulent acts when they convinced me by the above names including your bank name so I trusted that you monitor their behavior!

Sadly, when I discovered last month 2013 their tricks through:
1- The so called “account manager” who kept giving me instruction on the phone to open and close transactions and close losing position accordingly with big amounts of losses appeared at the end that it was all false and opposite of the market where it always leads to a DEFFINITE loss, and this misleading instruction behavior form the so called manager was done daily all the day from morning to evening.
2- Once the Manger goes a way, I could get back and compensate big part of my lost capital by doing the transactions away from his false instructions.
3- When the manager comes back the next day he repeats the same leading to consume the capital again, when I object his instructions, he says I must obey him and that why the XFOREX appointed him to lead me. And he kept repeating to me: “be patient, we will get back the capital” off course nothing was back mostly.
4- I sent big number of warning and complaining emails asking the company to change the manager, they didn’t respond to any of my emails
5- What raised and confirmed my doubts when the account manager kept warning me from telling the company about anything, he said anything you need just report to me ! and that’s why “I’m your account manager appointed by the co”, never listen to anyone, or respond to any live instructions pop up from account screen or anyone else other than me(him) !
6- When I wrote later on to the company big number of emails they kept silent and never responded.
7- At the end, I kept calling their number supposedly in London more than 12 calls found them part of the fraud gang. They told me that I will get Zero, when I asked them to reply officially to my emails, they said they don’t have to reply!No respect !
Last day I opened my account found a transaction was manipulated and done by them making my equity to the bottom! This is very dangerous. This should be stopped.
We all should contact our country anti-fraud departments or at least our banks, they all should be notified, and they are responsible to WARN people from dealing with this Xforex Fraud gang.
Raise you voices LOUD everyone, we shouldn’t keep silent letting this gang get away from law. I repeat, CONTACT FRAUD MONITORING Dept in your country or bank and tell them about your story.
Mohammed From KSA

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