FinFX opinions

Website is down and customer service isn't answering emails. I don't think I've ever waited more than 15 minutes for a reply in the past. I'm getting more concerned as time goes by.

You don't have to take a website offline to update it. You build the new one on another server and switch instantly when it's ready. At the very least you post a message on the site that explains what's happening. Right now, all I see is "server not found".

At worst, FinFx is gone with my money. At best, they're wrecking their reputation and possibly losing a long term customer. This is inexcusable.

".........At worst, FinFx is gone with my money."

doubtful.........

integral will not deal with shaky brokers

".......... At best, they're wrecking their reputation and possibly losing a long term customer. This is inexcusable."

agree.........this is very troubling

Last night website opened for me just fine. I talked to them in chat, as I usually do when questions/issue arise, and again everything was answered properly, in a very professional manner. In the end I brought up this issue of yours. Support guy said that they familiar and surprised with this issue...he said that this delay is due to massive users requests amount during this big website update. He also said that users should be prepared to wait sometimes more then usual "15 mins" as you said, and still to remain calm. Also he advised to address the issues in chat (or by calling them) to get the fastest reply.

Did you talk to them? Is your withdraw processed? Keep us updated..

Thanks alstural and dn1pro for your replies. I did finally receive an email. All is apparently well, but I still think 16 hours is too long for a reply and 28 hours is far too long to confirm a withdrawal. They seemed surprised that their website was down although everyone here knew about it.

If this happens again, I will probably leave this broker. For now, I think they were having some technical issues and handled it badly. If you don't have enough staff to handle the volume, put an auto reply on your email that says so. Customer service isn't brain surgery. You just need to communicate. Especially, when you're holding thousands of somebody's dollars.

Here are the replies I received:

"Your withdrawal request has been delivered to our back office. They will process it as soon as possible.
They will send confirmation email to you after processing.

What do you mean our website is offline?
Here you can find our website:
https://www.finfx.fi/"


Yours Sincerely,
FinFx Trading Oy | MIKA


____________________________________________________



26 hours after the request, I received a confirmation.



"Thank you for contacting us and apologizes for the current delay in withdrawal request process. We have now managed your withdrawal request and payment should be received in 2-5 business days.
Please contact us for further information if needed.


Yours Sincerely,
FinFx Trading Oy | ANNA"

[quote=aaceofspades;5100249]Thanks alstural and dn1pro for your replies. I did finally receive an email. All is apparently well, but I still think 16 hours is too long for a reply and 28 hours is far too long to confirm a withdrawal. They seemed surprised that their website was down although everyone here knew about it.

If this happens again, I will probably leave this broker. For now, I think they were having some technical issues and handled it badly. If you don't have enough staff to handle the volume, put an auto reply on your email that says so. Customer service isn't brain surgery. You just need to communicate. Especially, when you're holding thousands of somebody's dollars.

Here are the replies I received:

"Your withdrawal request has been delivered to our back office. They will process it as soon as possible.
They will send confirmation email to you after processing.

What do you mean our website is offline?
Here you can find our website:
https://www.finfx.fi/"


Yours Sincerely,
FinFx Trading Oy | MIKA


____________________________________________________



26 hours after the request, I received a confirmation.



"Thank you for contacting us and apologizes for the current delay in withdrawal request process. We have now managed your withdrawal request and payment should be received in 2-5 business days.
Please contact us for further information if needed.


Yours Sincerely,
FinFx Trading Oy | ANNA"




.ExternalClass .ecxhmmessage P {padding:0px;} .ExternalClass body.ecxhmmessage {font-size:10pt;font-family:Tahoma;} hey I'll tell you the truth FinFx Director is a member WinCapita

WinCapita District Court Public Minutes of Finland


http://www.oikeus.fi/52556.htm


3. Jack Hjerppe

Here is google traslations

http://translate.google.com/translat...iy5wfbca_1.pdf

sorry to disturb you once again

but "..........And being a Finn myself........."

can help forum members to untangle

this complicated matter

your opinion about situation with finfx will be highly valued

namely if the ceo of finfx Jani Hjerppe

is somehow implicated in wincapita fraud

but if not who can post negative info and why

your suggestions?

regards and lucky trading


Kuultava Jani Hjerppe on todistelutarkoituksessa kuultuna kertonut, että hän on käynyt peruskoulun ja toiminut sen jälkeen yrittäjänä noin 20 vuotta. Hän on ollut valuuttameklariyrityksen osakas ja toimitusjohta- ja viimeiset puolitoista vuotta. Sitä ennen hän on harrastanut valuutta- kauppaa 5 - 6 vuotta. Hjerppe on tutustunut valuuttakauppaan opiskele- malla alaa itseopiskeluna yli vuoden. Hän oli hakenut valuuttakaupan- käyntiä koskevaa tietoa kirjallisuudesta ja internetistä sekä keskustellut alan toimijoiden kanssa. Hjerppe oli kuullut klubista ystävältään Turkka Partaselta. Klubi oli tuol- loin harjoittanut urheiluvedonlyöntiä. Klubiin liittyminen ei ollut vielä tuol- loin kiinnostanut Hjerppeä. Kun klubi oli alkanut käydä valuuttakaup- paa, Hjerppen kiinnostus oli herännyt. Partanen oli näyttänyt klubin si- vustolta valuuttakaupan tuloksia. Hjerppe oli ennen liittymistään klubiin seurannut jonkin aikaa Partasen kanssa klubin signaaliohjelman anta- mia signaaleja. Hjerppe oli liittynyt klubiin alkuvuodesta 2007. Hän oli sijoittanut klubiin yhteensä noin 30.000 euroa. Hjerppe oli liittymisensä jälkeen tutustunut klubin internetsivuilla olleisiin
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418 tietoihin. Sivustolla oli kerrottu klubin käymän valuuttakaupan tuottohis- toriasta. Vaikka klubin sivusto oli ollut ulkonäöltään amatöörimäinen, sieltä oli löytynyt miltei kaikki tarvittava tieto klubista. Sivustolla ei kui- tenkaan ollut kerrottu sitä, kuinka suurella kassalla klubi teki valuutta- kauppaa. Hjerppe ei ollut saanut sivuston tietojen lisäksi muuta kirjallis- ta materiaalia klubin sijoitustoiminnasta. Hjerppe oli ostanut sijoittamiseen tarvittavat lisenssit. Hjerppen käsityk- sen mukaan klubi kävi valuuttakauppaa, jonka tuottoja se maksoi jäse- nilleen. X-lisenssit olivat olleet arvokkaimmat. Mitä enemmän jäsenellä oli ollut X-lisenssejä, sitä enemmän hän oli voinut sijoittaa klubin käy- mään valuuttakauppaan. Hjerppe oli ladannut FxTraderSignals-ohjelman omalle tietokoneelleen. Hän oli luottanut koko jäsenyytensä ajan siihen, että klubi oli tehnyt sig- naalien mukaiset ja klubin sivustolla näkyneet kaupat. Hjerppe oli miltei heti klubiin liittymisensä jälkeen ollut Partasen kanssa Taipalsaarella pidetyssä klubin tilaisuudessa. Sanotussa tilaisuudessa Paavo Happonen oli kertonut noin kymmenelle ihmiselle klubin sijoitus- toiminnasta. Hjerppe ei ollut tuntenut muita tilaisuuden osallistujia. Hän ei tiennyt, kenelle tilaisuus oli tarkoitettu, mutta tilaisuudessa oli mah- dollisesti mukana myös vasta jäseneksi aikovia. Hjerppeä oli pyydetty klubin Lappeenrannan ja Imatran tilaisuuksiin ker- tomaan yleisesti valuuttakaupankäynnistä. Mainittuihin tilaisuuksiin oli ollut vapaa pääsy kaikille. Hjerppe oli käynyt myös omaa valuuttakauppaa. Hjerppe oli käyttänyt valuuttakaupan apuna teknisiä analyysejä, fundamentaalisia analyysejä ja todennäköisyyslaskelmia. Hän piti teknisiä analyyseja näistä tärkeim- pänä apuvälineenä. Hjerppe oli seurannut klubin signaaliohjelman anta- mia signaaleja ja matkinut niitä. Ohjelman antamat signaalit olivat olleet järkeviä. Kaikki signaalit matkimalla jäsen olisi tehnyt voitollista omaa kauppaa. Hjerppe ei ollut matkinut kaikkia signaaliohjelman antamia signaaleja, koska se olisi ollut aikaa vievää ja työlästä. Hän ei enää muistanut, oliko hän signaalien matkimisen avulla jäänyt omassa kau- pankäynnissään voitolle vai häviölle. Hjerppe ei ollut koko ajan seuran- nut klubin signaaliohjelman antamia signaaleja, koska hän oli halunnut kehittää myös omaa valuuttakaupankäyntistrategiaa. Klubin signaaliohjelman antamiin signaaleihin on sisältynyt 2 - 5 sekun- nin viive. Tällainen viive voi esimerkiksi talousuutisten julkaisuaikaan ja kurssien voimakkaassa sahaustilanteessa olla merkittävä, mutta rau- hallisena aikana sillä ei ole merkitystä. Viive voi vaikuttaa joko kaupan- käyjän eduksi myönteisesti tai hänen tappiokseen. Mikäli klubin järjes- telmän viive on ollut 6 - 10 sekuntia, klubin sivustolla näkyneet kaupat ovat Hjerppen käsityksen mukaan olleet manipuloitavissa. Hjerppen mukaan trading stopp on automaattinen järjestelmä, joka siir- tää tappiorajaa, kun valuuttakurssi menee ennustettuun suuntaan. Yk- sityisellä valuuttakaupan toimijalla kaupan kulut ovat merkittävä tekijä. Kulut riippuvat kauppojen lukumäärästä. Esimerkiksi scalping-järjestel- mässä, jossa haetaan useita pieniä voittoja, kaikki tuotto saattaa yksi-
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419 tyisellä toimijalla mennä kaupan kuluihin. Hjerppen kokemuksen mukaan Oanda, Forex.com ja Saxobank.com, jotka eivät toimi ECN-järjestelmässä, eivät tarjoa kuluttajalle kunnollis- ta, tuottavaa valuuttakauppapalvelua. Sanotut valuutta-alustan tarjoajat pelaavat asiakastaan vastaan. Hjerppe on kotiuttanut klubista 4.000 euroa. Hän on jäänyt klubin sijoi- tustoiminnassa tappiolle 26.000 euroa. Hjerppe oli koko jäsenyytensä ajan olettanut, että klubi käy valuuttakauppaa oikealla rahalla. Jäsen ei kuitenkaan pystynyt varmistamaan tätä mistään. Hjerppe oli pitänyt it- sestään selvänä asiana, että klubi käy todellista valuuttakauppaa, kos- ka signaalijärjestelmä toimi hyvin ja sen avulla oli siten mahdollista saa- vuttaa hyvä tuotto valuuttakaupasta. Hjerppe ei ymmärtänyt, miksi Kai- lajärvi ei olisi tehnyt signaalijärjestelmän avulla oikean rahan valuutta- kauppaa. Mikäli Kailajärvi ei ole tehnyt kauppaa oikealla rahalla, herää epäilys siitä, että signaalijärjestelmän mukaisia kauppoja on koko ajan "vedätetty" eli manipuloitu todellisuutta paremmiksi. Mikäli klubi olisi käyttänyt valuuttakauppaan koko kassansa, esimerkik- si 100 miljoonaa euroa, ei klubin ilmoittamia tuottoja olisi voitu tehdä niin suurella kassalla, koska kaupoille olisi ollut vaikea löytää vasta- puolta ja vivun saaminen olisi ollut mahdotonta. Jos taas klubi olisi käy- nyt kauppaa vain osalla keräämästään pääomasta, se ei olisi pystynyt maksamaan tuottoa kaikille jäsenten lisensseille. Hjerppe oli jo klubin toiminnan aikana perustanut Partasen kanssa va- luuttakauppaa harjoittavan yrityksen EK-Forex Oy:n. Partanen oli jäänyt kyseiseen yritykseen, mutta Hjerppe oli myöhemmin perustanut toisen valuuttakauppa-alan yrityksen, Fin FXTrading Oy:n. Yrityksen asiak- kaina on sekä yrityksiä että yksityisiä henkilöitä. Asiakkaat antavat va- ransa yrityksen treidattavaksi. Yrityksellä on oma ECN-järjestelmässä toimiva valuutta-alusta. Monet yrityksen asiakkaat käyttävät hyväkseen Leo Trader Pro -valuuttakaupparobottia. Tämän robotin käyttöoikeus maksaa 100 - 200 USD:tä. Robotti on tuottanut jopa 400 prosentin voit- toa. Markkinoilla on myös useita muita valuuttakaupparobotteja. Robotilla treidaaminen on nykyään suosittua. Internetissä myytävät robotit mak- savat 100 - 1.000 dollaria.

Apparently he (finfx ceo) was just an unsuccessful FX-trader of wincapita, not actually knowing that he's trading for a fraud company. He lost money while trading and then started a brokerage (to avoid the trading part)..actually makes sense, if I understood this correctly.
So..any new experiences with finfx?

Anyone have any feedback on their new ECN Pro account?

I checked with FinFX and the regular ECN account averages 250 MS access with their Pro account at 150 ms access. I believe someone has already mentioned why this is so, as their Pro account is situated next to Integral's in New York, I believe.

Further, I checked with Integral and they see FinFX as a reliable broker. My guess is that FinFX will remain reliable, as they will not want to lose their business relationship with Integral.

PS. By the way, check out Integral's site, as it's worth taking a look. They have a number of relationships with solid brokers and their management team is mostly Stanford U. grads....no small thing as Stanford is well known for their IT grad and undergrad education...one of the best. Integral appears to be a well respected, well run firm. They wouldn’t, in my opinion, take chances by signing up scurrilous companies. Also, nothing in Forex is completely safe, but it looks to me that FinFX is worth some consideration.

thanks for good info

regulation does not work as we can see(mfglobal)

segregation of acct is also "conditional"even if it is proudly declared on website

plz check with depositary banks if a strict acct segregation exists in nature

when a broker can not touch client's funds in any situation

regards..........

Like you, I suspect, I have done a lot of due diligence over the past several years trying to get a handle on which broker is the best in both performance (i.e., ECN vs. dealing desk, costs, bank segregation, etc.), and safety and there are clearly no easy finds with all that happens in our wonderful 'forex world'. I will say, that it appears that brokers in Australia under the ASIC License, are heavily regulated and do have true segregated bank accounts. There are also a few that still accept US clients and offer better than 50:1 leverage with a DMA/STP process. One such firm is ForexFS, with whom I have opened live accounts and have used their MT4 platform for many months. They also have US-based servers, which, for me, is a great thing. I believe them to be a legitimate firm.

Another new Australian broker, BestecNFX, is also under the ASIC banner, and I am in the process of trying them out with their MT4 demo.

I have also checked out several Canadian brokers that are also heavily regulated, but unfortunately, they don't accept US citizens. However, they are also covered by insurance up to, I believe, a million dollars Canadian, and it appears to be the best coverage of any country for brokers that are accepted. As you may be aware, the Canadians are the only major country that did not suffer the bank 'meltdown' of 2008/2009, as they have the toughest bank laws and regulations in the world. The Canadians are folks that, I believe, you can trust.

"but if not who can post negative info and why"//--------------
well, if you are planning to setup another broker house in Finland for example... I know personally FinFx guys, nothing bad to say about them, Jani has done hard work with the company and is doing that in the right way, transparent way.

-MarZel-

segregation of accts.........

well....... you believe it is enough

mfglobal has shown that it is not

any idea of a broker with separated accts?

you know any of them?

i do.........but only one

have you looked at the problem of safety of client's funds from this angle?

(i mean separation vis-a-vis segregation)

wud like to get your feedback

regards and lucky trading

Is this your opinion or fact?

Are you referring to USA or Australia MF Global accounts?

An excerpt from communications regarding MF Global Australia -

"Segregated account

To our great relief, the approach followed by Deloitte is 100% consistent with what I would have expected for "segregated" accounts.

The reconciliation, the funds recovery and the foreseen mechanisms for distributing the funds in each segregated account appear to fully respect the principle of separation.

Deloitte will present the situation for each segregated account; two of the main segregated accounts seem to be balanced – ie: with no funds unaccounted for - which is a great relief.

However, some of these funds are at risk, because they are currently held in external entities and Deloitte is still working on securing their repatriation safely back into the segregated account’s bank accounts.

These risks will be presented tomorrow for each segregated account."

I can't find any reference to ASIC on their website; where did you get that information from?

Only the NZ authority, maybe they have another website?

Thanks, E.

I use finfx as a broker since April 2011 (combined with two other brokers). I trade with FINFX 530K$ (five hundred thirthy thousand dollar) in total spread over a euro account and a dollar account.

They are a very young brokerage but never the less they are very honest and very ambitious.
Whenever I have a problem I can talk directly to the CEO (Jani) and he gets immediatly after my problem. I would understand that someone who has only 1K$ on his account can not talk for a minor problem to him. Otherwise he would not need any staff.
But I am a account manager now for 16 years and would never allow this kind of capital from my clients to be given to a brokerage if I would not feel and know that this brokerage is 100% to be trusted.

- The spread is one of the lowest out there.
- The commission is low.
- The execution is one of the fastest out there.
- The price feed is TRUE ECN (Direct Market Acces).
- They do not give a damn if you loos or make money because they only earn their money on the commmission.
- You get a very fast response from the back office. And please guys if one of you had to wait 24H to get a reply try to understand that there will always be that one single mail that can slip through their hands. They receive hundreds and hundreds of mails every day.
- They are very friendly and know what they talk about.
- Withdraws of money within a few working days.


I forgot probably some more important thumbs up. And there will probably be also some thumbs down ( as I told Jani that his back office could stilll use some improvements but he is working on that part).
But they are doing everything to stay here and earn their place amongst the big brokers and even in a more reliable way.
And please for those who want to have the same deal with only 1K$ to trade from, please realize that in whatever kind of business that you are you will always get a better deal and service if you speak in terms of 100K then 10K and even worse for 1K and even better deals if you speak in terms of a million.

Over the many years I have been trading and worked with dozands of brokers FINFX is a true recommendation. And for those who are on the lookout for some bad comments or details you will always find them. As far as I remember Mr Bill Clinton had stuck a cigar in quite a strange place and claimed that he never had any s*x with this woman. Was he NOT cappable of leading his country as a President ? I don't think so...

Friendly regards... FXiGoR

PS. How relative trading and comments of traders can be; when I red this posting :http://www.forexfactory.com/showthre...33#post4626333 this ALSTURAL guy refused to deposit 2K$ with FINFX where I had on that moment 300K$ on my account. It really placed a smile on my face.

Hi there, anyone else got problems today? Since 11:34 Finfx servertime i am not able to connect with MT4 (FinFx pro, ECN)

Website seems do be down also.

Any feedback appreciated, thanks

iak_fx,

Same problem here! From this night... connection unavailable...

Already contacted them... waiting for an answer. Website is down...

Doesn't smell good...

iak_fx,

Connected through backup server. click on the connection icon on the lower right of your mt4 platform. then choose backup.