Recently CommexFX contest got cancelled from myfxbook due to the fact that CommexFX is none other than a scam broker. I recently came across with this Forexpeacearmy useful information about this broker. Everyone must have a look into once. Read it share with everyone and stay miles away with this broker if you don't want to loose your hard earned money. This is the extract from Forexpeacearmy post:

New Name, Same Scammer
Omari and Prime4x Return as CommexFx and CommexTrade


The FPA doesn't like to call for destruction of a company. Everyone here hopes that even the worst forex company will eventually realize that there are more profits to be made from happy customers than from ripping people off. Only in the most extreme cases does the FPA want to see a company eradicated. Prime 4x was one of those cases.

Prime's record is well documented at the FPA. Suddenly withdrawals problems escalated to levels far above normal. Usually, the FPA could convince the company to pay money owed, but for every payment made 2 or 3 new complaints popped up. The amount of time to get a single complaint resolved kept getting longer and longer as the believability of excuses kept going down. Finally, Prime4x stopped paying people and got a scam finding. Despite this, Omari kept making excuses and asked that the Scam Finding be lifted. It would have been lifted if he'd payed traders the money owed. He didn't. There was even a supposed change of leadership at Prime. A new president was allegedly appointed and claimed he would fix things. There was no information about him anywhere online. He fixed nothing. It's obvious that this was just another excuse to delay paying traders.

Because of Omari's delays, one trader in China was unable to withdraw money needed for medical treatment for his mother. Omari was well aware of this. I personally emailed him to make sure he understood the situation. He didn't do anything except keep the money. The trader's mother died. Legally, I'll guess that this makes Omari guilty of some sort of manslaughter. In my personal opinion, he's guilty of cold blooded murder.

There wasn't any choice left. Prime was still getting new clients and was paying no one. The FPA called for Prime4x's destruction. A few days later, the website went offline.


Then the waiting game began. I had a feeling someone as terrible as Omari wouldn't settle for sitting back with all the money he's already taken. He'd probably spend all of it quickly and want more. I kept hearing rumors of one brokerage or another that he was supposed to have bought. There was never any evidence and there weren't any complaints against those brokers.

Finally, I got an email with proof. Omari had a new brokerage in Cyprus. The registration even said that it was formerly Prime4x. The new company was called Commex Fx LTD. It seemed to be associated with CommexFx.eu and CommexTrade.com. Omari had even been emailing former Prime4x clients claiming that everything was fine and they could start trading again. For some reason, he still kept having excuses and delays on withdrawals.

The person who reported it didn't want his name used. He put me in touch with FPA member Wolf who confirmed everything and provided more evidence. I then called on FPA members Pharaoh and F-Man of 4xAngels.com to do some more digging. They came up with even more evidence linking all the companies and websites together.

The Cyprus registration for CommexFx LTD lists ABDEL RAHMAN KHEDR ABDEL RAHMAN EL AMARY as the sole stockholder. Omari seems to have a lot of ways to write his name. When he was at Prime4x, he went by Abdel Rahman El Omari. The address Omari gave to Cysec was 90 El Hegaz Street, Helioupolis Square , Cairo, Egypt.

All of the Commex websites, including CommexTrade.com, .net, org, and .info as well as CommexFx.eu, .com, org, and .info are tied to Prime4x. All at some point used Marketology.us for registration or DNS servers. Prime4x.com and CommexFx.eu are both hosted on the same server as Marketology.

It looks like Omari planned this for a long time. The Comex Fx websites were registered more recently, but the Commex Trade websites were first registered in February of 2011. That's before Prime4x's website went down.

If you were a client of Prime4x or have an account with Commex Trade or Commex Fx, you need to file a complaint with Cysec. Send an email to complaints@cysec.gov.cy and include all of your account information. Omari is trying to claim that the Commex that's registered in Cyprus isn't the same Commex that has your money. He's said that it's the other Commex and that company is registered in Belize. Send a complaint to director@ifsc.gov.bz and let him know what's going on. If either of those organizations would like to contact the FPA, I'll share all the evidence that F-Man and Pharaoh dug up.

Give all the information you have to the authorities. If you are in Egypt, file a complaint with the police. Try to contact InterPol and see if you can get them interested in the case. Leave Omari with no place to hide. This man needs to be dragged before a judge in Egypt or Cyprus to face charges for his financial crimes. He then needs to be taken to China to answer for his part in the death of a trader's mother.


My thanks to that unidentified FPA member, Wolf, Pharaoh, and F-Man of 4X Angels. Without their help, Omari might have gotten away with this.


-----------------------------------------
Link to the original article
-----------------------------------------

http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/19589-new-name-same-scammer-omari-prime4x-return-commexfx-commextrade.html

http://www.forexpeacearmy.com/forex-forum/blacklisted-folder-unresolved-scam-cases/19588-commextrade-com-aka-commexfx-eu-aka-prime4x-com-abdel-rahman-el-omari.html

Regulation is must but those fraud company's generally prefer to register themselves in Cyprus / Virgin Islands etc. because these fraud brokers can easily get themselves register there because regulations there are not so strict as compared to US & UK.

If you read it carfully then you will realize that author points to complaint to regulatory authorities only in case of an issue and with this company the biggest issue is they never process any withdrawl request.

I think the CySec regulatory status is the easiest to be registered with.

I've also went through the articles and don't see even one response of the broker trying to defend themselves, which shows you their true color.


Yes, cyprus regulation is almost closer to worst & a good reputed company never go to cyprus to get themseleves registered therewith. If you noticed one important thing then you realize whenever we see any broker scam that broker always found registered in either Cyprus or Virgin Islands

dave90 posted:
I don't agree with that because many of big names is regulated their
Like fxpro ,Windsor ,alpari and easy forex
Which mean it is not like BVI or Belize ,I agree with you that it seem that they are talking about withdrawal issue or problem but also search over internet and no one complain about commexfx which is the regulated one I don't know about if it is true that prime and commexfx is same company or it is just thoughts of some traders


Those firms have a reputation built over years of hard work, unlike Commexfx which is obviously a scam.

James_Bond posted:
This is unbelievable - MyFxBook canceled the contest while their representatives are saying that they aren't aware of any issues and business are as usual. This is definitely a scam broker - stay far away.


Everyone knows that contest has been cancelled except that broker itself. Isn't it ridiculous