Horrible experience with my broker

SCAM ALERT: FOREX.COM

Hello traders,

I'm going to share my horrible expirience with that BS broker.
I did a report in FPA and the idea here is share the kind of problem you can have with that broker.

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========================================First FPA Posting=================================================

May 1, 2020 - 1 Star

I'm trying to withdraw my profits from those guys and they asked dozens of confirmations and everything.... ok, so far, no problem, all of them are very good to deposit and horrible to withdraw, forex.com isn't an exception.

I sent all documents and confirmations they asked.. billing, bank statement, selfie holding my passaport all kind of shi@#$% they requested... and here I'm, so far almost two months to withdraw only $100 bucks.

So, my advice... stay away from them.
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========================================Forex.com reply me===============================================
Reply by FOREX.com submitted May 22, 2020 Ruben,

Thank you for sharing your experience.
We sincerely regret that your withdrawal experience has been less than satisfactory. While we strive to make our withdrawal process as seamless as possible, we must balance this with our duty as a regulated firm to verify details under the “Know Your Customer” (KYC) and Anti-Money Laundering (AML) guidelines set forth by our regulator.
In some instances, we are required to verify the source of funds as part of standard operating procedure. Typically, we do not need more than one bank statement issued within the last six months, and once received, the withdrawal is processed.
If your situation has not been resolved, please contact our support team via live chat on our website, or message me privately with a way to contact you so that I can help to address your needs. Please do not include account-related data.
We value your business and hope to continue being you trading partner.

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========================================My FPA Reply to Forex.com==========================================

I posted a review telling about my withdraw problem and they reply saying that it happens because they suspect I'm doing money laundry...

You guys are JOKERS and should change your business.

So I deposit $300 USD using my Card and after long time I did some profits with you horrible plataform... tham I tried to withdraw $100 bucks back to my card... and your answer is that I'm doing money laundry hahahahahah

You guys are horrible!!!

=========TRADERS, STAY AWAY FROM THAT FOREX.COM COMPANY=========

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So, guys.... once more, that broker is dangerous, I'm facing problems with them, and now... just to let you know, for each email I sent them with a tentative to withdraw my money, they applied $50 usd of TAXES.

Guess what???


They vanish with my balance and now I can't login into my account anymore.

You can see below a little bit of my msgs with Forex.com.
I did everything they ask, but every response from them, they create a new problem... so that's it, lost my initial $300

===============================Email from Forex.com asking me bank info ========================================

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===============================My reply to Forex.com sending my bank info ========================================

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Let's wait for a reply of their rep here. I think they won't leave this compromising stuff here unanswered.

I don't expect they respond anything here.
The idea is to alert everybody what kind of situation you can have with them.

I think we should do some good research before choosing a broker, always choose a reliable and trusted broker and also broker should be regulated.

A proper kindly of research is very necessary before selecting the broker also we should keep in mind that reviews should not be trusted blindly, there should be someone who is from our friend circle who have worked with that broker

Wow! and to think broker has been operating for more than 20 years and has a trust score of 93% on forexbroker.com. Choosing a trustworthy broker is becoming increasingly hard.

I have faced a lot of problem when I went to withdraw my money. Than I changed my broker. And now I am pretty satisfied with my new broker.

It seems you aren't talking about the same broker that I'm relating here.
The info you said, about 93% of trust score, doesn't exist.

Take a look yourself:
https://www.forexbroker.com/brokers/forex-com

There is only one vote about them in whole website.


So, you got one vote from 2 years ago and came here to say it represent 93% ???
Trying to understand you.

Hi! Firstly, I appreciate that you want to alert others so that they don't end up getting scammed. Secondly, I am in no way supporting Forex.com. It's evident that you have been wronged by them, posting a link simply to justify my earlier comment seems completely unnecessary but I am doing it anyway.
https://www.forexbrokers.com/reviews/forex-com.

I think I may have been scammed for too much than i can bear to admit. Is it possible that the broker could be creating an MT5 account that isn't real and they aren't really doing the trades? I have what appears to be a genuine MT5 account with them and I have given the broker remote access to my computer to open up the trades and I've been pressing Ok. They have made me profits but the losses have run to an enormous level and now I have a losing sell and a losing buy open for the same index so I'm damned if it goes up or down. They have given me credit to keep the account going and I put in way more than I was ever comfortable as they said that was the only way to save the account. Now they are suggesting they take over my winning trades and I pay them half of the current losses for that.

I realise I have been totally naive. Can anyone help me with some advice? There's a tiny part of me that wants to cling onto it still being genuine, tho I hardly have enough equity to take trades.

Jessss man
I never heard nothing like that before, is that with Forex.com ???

no it's not. I don't want to mention the company as I don't know 100% that it's not genuine yet but I'm just wondering if anyone can have an MT5 account and is it actually possible to transfer an open trade from me to a broker as they are suggesting?