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Money transfer issues with broker

  • Post #1
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  • First Post: Mar 27, 2011 11:27am Mar 27, 2011 11:27am
  •  ^eagle^
  • | Joined Oct 2008 | Status: Member | 421 Posts
I have been in contact with IBFX for several weeks trying to close down my account. I originally thought I had transferred the money from Zions bank, a bank which they use to transfer funds, Into my personal account. However I sent them my personal banks ABA number. Zions bank said they rejected the transfer due to using the ABA routing number of my personal bank. They say they do not have the money. IBFX says They do not have the money. My account is now empty and no one will refund my money. I would have never had thought this would happen with a US broker. I expect it from form cyprus bucket shop but not with a broker such as IBFX. I will scream here until I see justice and my account properly funded. IBFX you have been warned.
http://www.forexpeacearmy.com/forex-...c/progress.gif

  • Post #2
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  • Mar 27, 2011 4:06pm Mar 27, 2011 4:06pm
  •  Slack
  • | Joined Aug 2009 | Status: Member | 649 Posts
Have you spoke with a manager at IBfx? I had a similar problem with them; it was also my error while setting up the transfer.

IBfx's acct manager immediately called me and we worked out an agreement. The money ($10,000) was in my acct the next morning.

My issue was a transfer into my IBfx acct, so you might need to get some documentation from them as proof of transfer from your bank. Do not deal with lower level employees; they have limited authority.
 
 
  • Post #3
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  • Mar 27, 2011 6:02pm Mar 27, 2011 6:02pm
  •  Mr Smith
  • | Joined Nov 2005 | Status: Member | 522 Posts
How long has the money been missing for?

I'm sure you'll beable to sort this out, ibfx are not scammers, so there has to be some explanation and you'll get your money back.

Post back here with updates.
 
 
  • Post #4
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  • Mar 27, 2011 6:04pm Mar 27, 2011 6:04pm
  •  BarrySDCA
  • | Joined Jul 2007 | Status: Member | 195 Posts
one clerical error does not make IBFX a scam. they are anything but

Certainly it is annoying but I think even you know they are not a scam.
BarrySDCA Commercial Network Services
 
 
  • Post #5
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  • Mar 28, 2011 4:25pm Mar 28, 2011 4:25pm
  •  ^eagle^
  • | Joined Oct 2008 | Status: Member | 421 Posts
well so far their response has been swift and satisfactory. Hope to have my deposit in a couple of days. Amazing what a little stink will do.


 
 
  • Post #6
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  • Mar 29, 2011 3:31pm Mar 29, 2011 3:31pm
  •  ^eagle^
  • | Joined Oct 2008 | Status: Member | 421 Posts
IBFX has resolved this issue to my satisfacion. I ask the moderators to either move this to the recylce bin or delete the thread.

I am learning you cant go spouting your mouth about even the good things a broker will do because they will change them. I will keep quiet as to where I am now but it is a good quality broker outside of CFTC jurisdiction. I am very happy with them.

As an intermediate trader I am learning about how the brokers and banks operate. And it ain't pretty.

If you want to know who I am with PM me. I have learned the hard way not to discuss brokers in forums. But This is the best broker I have found for US clients who want nano accounts, hedging as well as mt4. And it took several months of testing to find them.
 
 
  • Post #7
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  • Last Post: Apr 28, 2011 10:59am Apr 28, 2011 10:59am
  •  fxbrownie
  • | Joined Mar 2011 | Status: Member | 12 Posts
It is kind of you that you protect their reputation. Not all brokers are "against" the traders. I have learned this since I trade with AAAFX.
 
 
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