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TenkoFX terminate his business activity in India, what will i do ?

balaji0072000
Dec 07 2015 at 08:06
4 posts
Hey Guys,

Please help me how to get my money back. One day i got an mail from my broker that

 'We have to regretfully inform you that TenkoFX has to terminate its business activity in India, due to the fact that accounting manipulations by the Indian partners have been identified. We have undertaken all the measures to resolve the problem with no success. In these circumstances, we have to strip the Indian partners of the right to operate under TenkoFX brand name.

We would like to draw your attention that due to India’s capital control legislature 100% of client funds have always been kept by the Ludhiana office and remain in India. In addition TenkoFX has placed to India its own capital to guarantee payouts of client gains generated on the liquidity.

Cash balances at hands of Indian partners are well in excess of amounts owed to clients. These balances comprise of client money, operating profit and additional guarantee money that has been placed by TenkoFX to India. All client obligations should be met by our Indian partners in full and in time.

Our current top priority is to ensure that all clients get paid. However, given the irresponsible attitude taken by our partners we do foresee problems ahead. We can only solve them by coordinating our actions. We urge all clients to work collectively and supportive to each other in order force the Indian side to comply with obligations in front of clients.

Starting from today (25/11/2015) trading activity for clients who has deposited via the local Indian office (i.e. Agent deposit method) will be terminated and all positions closed. Respective clients should apply for INR withdrawal of deposited funds and profits via the Agent option – i.e. just as it was deposited.

We will be controlling the termination process closely. We urge every client, who is facing withdrawal problems to send notification e-mail to support@tenkofx.com. E-mail used by the Indian office (india@tenkofx.com) has been deactivated.'

All my open positions were closed automatically with loss and remaining capital also i am not able to withdraw.
So guys please suggest me how to solve this ?

Does any one cheated by there broker without giving the money ?

Please please please please please please reply me :(

balaji0072000
Dec 07 2015 at 13:45
4 posts
rahiths (rahiths)
Dec 07 2015 at 16:03
98 posts
DID YOU DEPOSITE VIA INDIAN OFFICE

A trader can be an economist but an economist could never be a trader. They are too theoretical.
balaji0072000
Dec 08 2015 at 07:19
4 posts
Hi Rahiths,
Thanks for your reply.
I deposit 30% through Neteller and 70% through bank transfer.
S via Indian Office.

rahiths (rahiths)
Dec 08 2015 at 17:05
98 posts
Our current top priority is to ensure that all clients get paid. However, given the irresponsible attitude taken by our partners we do foresee problems ahead. We can only solve them by coordinating our actions. We urge all clients to work collectively and supportive to each other in order force the Indian side to comply with obligations in front of clients.

Starting from today (25/11/2015) trading activity for clients who has deposited via the local Indian office (i.e. Agent deposit method) will be terminated and all positions closed. Respective clients should apply for INR withdrawal of deposited funds and profits via the Agent option – i.e. just as it was deposited.

A trader can be an economist but an economist could never be a trader. They are too theoretical.
neosouvik
Dec 15 2015 at 08:06
8 posts
no serious brokers handover the controlling of monies to their affiliates/ibs/some random strangers,,,,your money is gone mate!
ibs/account managers got 20-30% & rest to tenkofx.thats how ....typical dealing-desk bucketshops & ib businesses work

Justice
Dec 15 2015 at 12:10
34 posts
too bad, i don't understand why you deposit through IB while you can deposit directly to broker

wortrader
Dec 15 2015 at 15:09
21 posts
Our current top priority is to ensure that all clients get paid. However, given the irresponsible attitude taken by our partners we do foresee problems ahead. - means partners run away with money and you not will see cent back...call police and tell, you are scammed. Sure you have account number where you send money. + in india is banned trade with other than national brokers. So call police.

i am user in bestforexrebates dot com
balaji0072000
Jan 11 2016 at 13:02
4 posts
Hi all,

Can anyone tell me how to give a complaint against them in Ludhiana ?
because i am from Chennai. What should i do ?

Help needed guys :(
Kindly help me

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