Fx-Trend is closed due to legal problems? | Forex Factory

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Fx-Trend is closed due to legal problems?

  • #1
  • First Post: May 4, 2015 11:27am May 4, 2015 11:27am
I invested around 800$ in PAMM accounts in Fx-trend and recently my withdrawals are not processed for a long time. I checked their forums which is russian and found out there are some problems with legality since february. can someone shed some light if you know what are they dealing with? Are they shut forever? Can i conclude that my funds are stolen and gone forever?
Believe in your thesis and stick to the plan, don't get scared with moves
  • #2
  • May 4, 2015 12:06pm May 4, 2015 12:06pm
No TOS, No Licence, No regulations on the page of Fx-Trend. I think you got scamed.

I'm sorry : found something : http://fx-trend.com/about/


Go and open a Dispute resoluton.
Money moves the market, not an indicator.
  • #3
  • Edited 12:50pm May 4, 2015 12:36pm | Edited 12:50pm
Quoting akash14
I invested around 800$ in PAMM accounts in Fx-trend and recently my withdrawals are not processed for a long time. I checked their forums which is russian and found out there are some problems with legality since february. can someone shed some light if you know what are they dealing with? Are they shut forever? Can i conclude that my funds are stolen and gone forever?
According to their forum, only their New Zealand subsidiary is bankrupt and it's supposedly been expected for a long time. It didn't mention any other of their companies in other countries so I don't know about the rest of their companies.

You need to file a complaint with the New Zealand regulator.

Good luck!
Make your losses in demo. Earn your profits live.
  • #4
  • May 4, 2015 1:39pm May 4, 2015 1:39pm
Does anyone who speak russian, read in their forum whats the exact position of clients funds in the company? I read in somewhere february or march the company started refunds, but i do not know how to read their forums nor how to proceed with filing a dispute etc. Any help from russian guys here?
Believe in your thesis and stick to the plan, don't get scared with moves
  • #5
  • May 4, 2015 6:10pm May 4, 2015 6:10pm
http://www.forexfactory.com/news.php?do=news&id=538312
  • #6
  • May 4, 2015 6:36pm May 4, 2015 6:36pm
Quoting akash14
Does anyone who speak russian, read in their forum whats the exact position of clients funds in the company? I read in somewhere february or march the company started refunds, but i do not know how to read their forums nor how to proceed with filing a dispute etc. Any help from russian guys here?
Open up their webpages in Google Chrome and then right-click on the top of webpage and click on "Translate this to English" on the right-click menu and the whole page will be translated into English. It's not 100% perfect but you would be able to understand the main idea of what they are talking about.

Good luck!
Make your losses in demo. Earn your profits live.
  • #7
  • May 5, 2015 10:53am May 5, 2015 10:53am
After trying hard to read their forums by translating i understood that company owner has escaped and company is under liquidating orders by NZ financial authorities.

Somebody opened a poll to vote, to fight with a lawyer and get the funds back of clients.

This post : http://forum.fx-trend.com/index.php/...__p__100169520

http://www.9111.ru/complaints/?id=44994

Please use translator and vote there atleast someone will look after this case and make some changes to get our money back
Believe in your thesis and stick to the plan, don't get scared with moves
  • #8
  • May 5, 2015 10:19pm May 5, 2015 10:19pm
Quoting akash14
After trying hard to read their forums by translating i understood that company owner has escaped and company is under liquidating orders by NZ financial authorities. Somebody opened a poll to vote, to fight with a lawyer and get the funds back of clients. This post : http://forum.fx-trend.com/index.php/...__p__100169520 http://www.9111.ru/complaints/?id=44994 Please...
You should try to see if the New Zealand financial regulators have a compensation scheme where investors can get your money and then apply there to get compensated. When that does not work, then you can consider hiring a lawyer. Lawyer is expensive and especially in this case that the owner has already skipped town. By the time when everything is done and even if you get the judgement to your favour, after the lawyer fee, you might not get much back.
Make your losses in demo. Earn your profits live.
  • #9
  • Jun 23, 2015 8:41am Jun 23, 2015 8:41am
Quoting akash14
I invested around 800$ in PAMM accounts in Fx-trend and recently my withdrawals are not processed for a long time. I checked their forums which is russian and found out there are some problems with legality since february. can someone shed some light if you know what are they dealing with? Are they shut forever? Can i conclude that my funds are stolen and gone forever?
I am also a Fx-trend' client and I can confirm that Fx-trend is scammed. And yes, unfortunately our funds are stolen..
  • #10
  • Jun 23, 2015 9:55am Jun 23, 2015 9:55am
Quoting JASumy
{quote} I am also a Fx-trend' client and I can confirm that Fx-trend is scammed. And yes, unfortunately our funds are stolen..
Lasty has already posted this earlier:

Quoting lasty
http://www.forexfactory.com/news.php?do=news&id=538312
According to the news article, you can contact the Financial Dispute Resolution (FDR) for help.
Make your losses in demo. Earn your profits live.
  • #11
  • Last Post: Jun 25, 2015 3:18am Jun 25, 2015 3:18am
You should go to their official site and read the post.
All FX Trend clients are going to Fibo Group.
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