ALERT: FxSystems Ltd SCAM? - Information needed

Hi Everyone,

I am reaching out to any one who has had experience with a broker called Fxsystems.com, who also are linked with LoyalForex.com, 1pipfix.com, 2pipfixed.com, 1lotstp.com, 4runnerforex.com

Last year I used to trade with this brokerage, we have had over $100,000 USD wired to them for our accounts to trade with.

About 5 months ago we decided to withdraw our balance and their support said it would take a couple of days to process. After these days nothing arrived. We kept contacting them and they would always reply from the same email address but using a different advisors name and just say they are escalating the problem to get the funds withdrawn faster. Still nothing. Now they refuse to reply to our emails, and won't answer any phone calls we make to them.

If any one has any knowledge about this company please leave it in a comment below.

Also please be warned if any one is thinking of using this company DONT.


Regards,
Martin

A lot of warning flags on this broker's site. Where is Nevis, W.I.
I will hesitate sending $100K to a brokerage firm with a P.O Box address and having a church building as its office's sub-address. Not withstanding the fact that a simple google search indicates its nebulous location to be on an obscure island. If you can afford it, I will suggest you fly over to their said location to really check them out. Good Luck my friend.

Thats sucks bro, should stick to wholesale mainstream brokers when your dealing with that sort of cash...

Sorry i cant help..

Hi,

Yes I think I got royally screwed from this 'broker'! Still no new yet from them just yet.
I will be hunting the bastards down.

I think they have also littered internet forums with good reviews of themselves, so be wary.

Martin

With respect, it is so critically important that you do some home-work BEFORE you deposit with a broker. Seems you are not alone in trying to withdraw funds: https://www.forexpeacearmy.com/public/review/www.fxsystems.com

Did you bother to check if this broker is regulated? Takes just a couple of minutes: https://www.nevisfsrc.com/advisories-2/warnings/183-fx-systems-ltd

I don't want to come across too harsh, but the reality is that we, as traders, are responsible for ensuring the safety of our funds at all times. What's the point of having a great trading strategy that makes you lots of money, if you cannot get that money when you want it?

May I suggest that you lodge a formal complaint with the Financial Services Regulatory Commission, Nevis Branch, P.O. Box 689, Main Street, Charlestown, Nevis, West Indies. Tel: (869) 469 - 1469 Fax: (869) 469 - 7739 Email: [email protected]

Good luck! 😎

there is another one GCItrading.com
surprise they offer 25% bonus on new deposits and no charges on credit card payment. so attractive that we never get back our settlements.

shyamathur posted:
there is another one GCItrading.com
surprise they offer 25% bonus on new deposits and no charges on credit card payment. so attractive that we never get back our settlements.

Client feedback: https://www.forexpeacearmy.com/public/review/www.gcitrading.com

Cannot find any trace of registration with the local regulator: https://www.fsc.org.ai/market.shtml

😎

@myfxpt is right, you should at least check your broker's regulation... then at least you have a government body to ask for help in such cases... now.. I don't think there is much you can do... I'm very sorry!

Hi,

Thank you all for your input. Yes we made a massive mistake. At the time of the deposit we were very new to forex and jumped in deep first. We are much wiser now thanks to this community and have an account with a trusted broker recommended by this website.

If anything good comes from this it is the prevention of other traders falling into their web of deceit.

I will have to track them down with a sniper rifle...

MartinC posted:
Hi,

Thank you all for your input. Yes we made a massive mistake. At the time of the deposit we were very new to forex and jumped in deep first. We are much wiser now thanks to this community and have an account with a trusted broker recommended by this website.

If anything good comes from this it is the prevention of other traders falling into their web of deceit.

I will have to track them down with a sniper rifle...

So in conclusion it was total scam?

Yes, a massive scam. Their whole network of sites are a scam. Everyone please be warned and don't use them.

Martin, did you really lost so much in that broker ? Be careful next time and try to split your money in more brokers but only serious, this is just my list (short) where I put money, but there are many other:

Fxcm
Pepperstone
3Tgfx
Finfx
Thinkforex
Synergy
Lmax
Interactive Brokers

Never had any problems with them. I hope you recover soon !!!!

i did lost 20k on 1pipfix too.!!!! super scam. will not process withdrawal and now just disappear