After 10 days and after I told them I will write in Forex forums they finally answer! and guess what they said : it just happen! and they said I am trading on news!!!! the date of my positions are clear they I toke them hours before any high Impact news! poor fbs, you can do better! this is not an excuse!
Imagine you set SL to make sure your position will closed at that specific point, and then it closed far away from your SL and when you ask why? your broker say : it just happen! you should close your position before any news because if you dont we will close it far away from your sl for you anyway and you can do nothing!!!
I don't blame anyone, It was my mistake to trust this SCAM broker! but they will pay because I am a web developer and I am working on a website to alert people stay away from this broker, and guess what, I want work hard on CEO, I know some algorithms, and soon enough every search in google display my website first :) it take some time, few weeks but finally they will understand that they SCAM from wrong person.
To every person who want thing about this broker! STAY AWAY! GO FAR FAR AWAY! beleive me, its the worse broker ever. let me tell about my story :
about 9 days ago, my 3 trades on GBPUSD closed above my sl, each trades closed about 15 pips above my SL! I contact to LIVE chat they ask me to send an email, and I did, and today after 9 days no answer! and guess what, today my other trade in USDJPY closed above my sl AGAIN!!! this time 9 pips above my sl. MY SL WAS 121.12 and my trade closed at 121.204! the funny part s USDJPY NEVER MET THAT PRICE, THE PAIR HIGH WAS 121.13 when my trade closed!!!! HOW THE HELL MY TRADE CAN CLOSE 121.20 when the pair high is 121.13!!
as usual they ask me to send email AGAIN! and when I said I already sent email days ago and you never answer to that email, the live chat support said the same answer : I will forward the information sir and we will reply to you, if you have any other complain you can send it to [email protected]
I provide all proof they need in emails, but no luck! SO, ARE YOU CARE ABOUT YOUR MONEY? THEN STAY AWAY FROM FBS.
Dear Novar , could you please give us your account number? It is not true, that you can withdraw omly deposit. Mor then 700 000 our clients can withdraw all money. Maybe there was an error in your account? We can solve this situation quickly!
Novar posted: Not Good
Withdrawall very difficiult and amount asked evry time reduced by financial department, so impossible to empty completly account
moreover only deposit can be withdrawed to bank account and profit only with elctronic payment system
to explain the withdrew issue if you deposit using any electronic payment system you can withdrew to the same method unless you make single deposit using your dept card,in this case your all withdrew should be processes to your dept card or to your bank account i deposited and withdrew many times without problem and if we wrote ( any broker name review) at google you will find many claims against all brokers and many people talking about how this broker is amazing i used FBS for several years without any problem and to make some explanation i read very bad review about insta but i opened an account with them and so far so well till now so dont decide about any broker depends on what you read
Dear Yunni, it's so nice to here from you again. First of all, FBS is a reliable and regulated broker by IFSC and CRFIN. Let's start from the very beginning. We processed your claim and all the necessary corrections on the account were made, i.e. the required orders were annulled with their total loss restored on your balance, profitable orders were placed back with their total profit return. Before the withdrawal was processed you started you own game: sent a claim to our regulator, posted everywhere negative posts in spite of the fact that we fulfilled all your requests and never wanted to hold your funds. For that reason we had to frozen your funds (according to our Customer Agreement) until the CRFIN investigation of the whole issue would be processed. As we always intented to cooperate and settle this peacefully, we offered you to sign the Settlement Agreement, after you signed it the withdrawal was processed right away. So, now everything is settled, you received you money. And may be it's no business of mine, but please don't trade on the money for your son's studies!
Hi everybody, I am back and sorry about disappearing for a while - however you would know why I had to after hearing my story, which is a sad one - thanks to fbs.
Basically the last thing everybody knew is FBS had illegally kept MY funds for over 2 weeks and forced me to sign an additional 'agreement' in order to get MY money back - why I use word 'forced'? Because that money should be at my dispense and not a single word in the Customer Agreement gave FBS the right to take it away from me, after they had to accept my initial claim about the mistaken orders and make the balance available to me. So let's face it: the reason for FBS to hold my money is not 'we were still under disputes about the wrong orders' as they claimed (because that initial dispute had already been resolved before it came to everybody's attention and I accepted it); the only real reason for FBS to do so was that I chose to use my legal rights as a customer to bring this issue to the public eyes - if you read the additional 'agreement' they forced me to sign, it says I had to remove all my posts on internet before I can get my money back! So if a customer chooses to complaint and write bad but true posts about a broker, he can not get his OWN money back? Please try and describe such broker's behavior if it's not 'bully' or 'rogue', and I'd love to see how FBS shall comment on and justify such behavior pattern of theirs
And btw, I'd like to remind everybody once again: FBS is NOT regulated - not by a single regulator in the whole world! I have raised this issue to the attention of CRFIN, the so-named 'regulator' claimed by FBS, and after I went through all the official procedure instructed by CRFIN's official website, they had come back to me 'Currently, while there is no legal regulation, the services for clients are provided generally on behalf of foreign companies, registered in regulated or off-shore jurisdictions.' - meaning 'go away, we cannot do anything about this off-shore company'. The most funny part is, when I called CRFIN, where few people can speak English, one guy even yelled at me 'go away, go to to the police' - very professional and reliable for a 'regulator' ha?
And finally, here is what happened to me: I did get the money back, however it was too late - I requested the money back on 12th Aug as I needed that money to pay my son's deposit for his study abroad from the begining of September; he had been planning that for a long time, however the money I should have got from FBS by middle August never arrived till the end of August, so I had to try borrowing money from banks and people, which failed probably because I'm retired and too old. So my son had to give up his study plan this year, and I had to work myself aroundlike a dog trying to fix the messes caused by FBS's 'responsbible behaviors'. And that's why I was too busy to come back.
So all in all, if you only care about wether I got my funds back, you can lable this case as 'resolved'; but if you ask me wether I still think FBS is a scam broker, I will say 'YES YES YES'!!!
And should anyone go trading with FBS without considering the facts I provided, I will personally come to your house and slap your face!
so far I have never had a bad incident during trading in the FBS. My trading is always smooth and withdrawals are always on time. I use IB in FBS, they always give you a rebate of trading according to the number of lots that I do.
Dear Yunni, please note that we haven't received any emails from you to [email protected] since August 21. Yesterday we sent you an official reply with the Settlement Agreement and still there is no reply from you. You need to sign an Agreement and send it and your official confirmation to [email protected]
I have been using FBS for 3 years and i'm fully satisfied with the service given. FBS always give me the best service in terms of deposit and withdrawal. If i'm facing any problem or issue with my deposit or withdrawal, my Master IB will help me as fast as he can in order to solve it besides the help of other FBS members
Today, 26/08/2014, FBS and I have agreed to resolve the issue (claim ticket number LTK1221601642974X). And I can confirm that the dispute is now fully resolved and I do not have any complaints regarding this issue.
Meanwhile, FBS and I have signed the following Settement Agreement:
Settlement Agreement This Settlement Agreement is between acting in his capacity as Directior of the FBS Company (hereinafter 'FBS Company') and Yunni Long (hereinafter 'Customer'). Whereas, FBS Company and Customer have reached an understanding on the incident with deals execution from August 8, 2014 (claim ticket number LTK1221601642974X). Therefore, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows: 1. Customer agrees to remove all the negative reviews on the Company regarding the above incident which she had published on the Internet. In case it is impossible to remove the review the Customer is obliged to publish a refutation and confirmation that the dispute is now fully resolved and the Customer does not have any complaints regarding this issue. 2. FBS Company shall transfer the remaining balance in the amount of $5850.04 from the trading account 360309 to the Customer's personal bank account the next business day after the Customer fulfills her obligations in accordance with p.1 of the present Agreement and informs the Company via e-mail. 3. In case the Company does not comply with the commitment in accordance with p.2 of the present Agreement the Customer has the right to refer to the Agreement and re-publish negative reviews, as well as to apply a complaint to CRFIN. 4. The Customer has the right to receive a copy of the present Agreement. 5. The Company has the right not to process the withdrawal of the remaining balance on the Customer's trading account until the Customer provides the Company with the signed copy of the present Agreement and removes all the negative reviews on the Company.
Please note: 1. My claim to CRFIN has been officially withdrawn on 22/08/2014 as confimred by email of Mr Evgeny Masharov Vice-chairman of the CRFIN Governing Board; 2. I have published refutation and confirmation that the dispute is now fully resolved and I do not have any complaints regarding this issue, since the posts cannot be removed on the involved websites, and I have sent FBS screen shot of this as proof.
Thus, I, as the Customer, have fullfiled the part of obligation required by the Settlement Agreement, and according to the Settlement Agreement, the FBS Company is required to return the amount of $5850.04 to my bank account the next business day of today 26/08/2014, which is tomorrow 27/08/2014.
We processed your claim and all the necessary corrections on the account were made, i.e. the required orders were annulled with their total loss restored on your balance, profitable orders were placed back with their total profit return. We sent you an official reply with the request to confirm that your claim is resolved. We also confirmed your withdrawal request as you requested.
At the same time you sent a claim to our regulator CRFIN without receiving our official reply to your request and when the problem was resolved, we were waiting for your reply, but did not receive any.
On 12/08/2014, you sent an email indicating you are willing to return my money; on the same day, I replied and specifically wrote:
I am glad to hear you have made the decision to reslove my complaint, and I confirm I shall accept the offer and suggestion, on the condition you cancel order 18725841, 18726541 and18745732, and immediately reimburse my account with:
and make my account total balance = $2512 + $3472 + $2660 = $8644
As soon as the agreed balance arrive in my account, I shall take actions on my side to return the reputation to your company.
So you have received my reply instead 'did not receive any' - this is LIE # 1.
AnnaFBS posted: For that reason we had to contact our bank to request to return the funds. So the withdrawal confirmation we had sent you before was real, but as you didn't want to solve the issue peacefully, we had to cancel the withdrawal and freeze the funds until the claim to our Regulator will be resolved.
1. Can you please provide a copy of wire transfer confirmation from the BANK to prove you did complete the transfer on 14/08/2014 - the day Alena sent me the 'confirmation' which you claim to be 'real'?
2. Please explain how you are able to 'cancel' a bank wire transfer after 4 DAYS you completed it? I'm pretty sure everyone here, who has been dealing with financial industry for at least a decent while, will be trmendously interested in that. Or please tell me which bank you were using to send me the money - I will contact them myslef to obtain an official bank letter to expose you BIG FAT LIE # 2!
AnnaFBS posted: I should add that on August 18 we offered you to sign a mutual Settlement Aggrement as a consent of the intentions. But you did not accept the agreement. That is why the funds were frozen until we proceed with the dispute.
And 'me not accept the agreement' causes 'why the funds were frozen until we proceed with the dispute' is the LIE # 3, the real reason is: FBS, a bully, who sees its customers as enemies and exploitable resources, cannot tolerate the fact the supposed-to-be stupid/craven customers have the guts and ability to challenge their lies, and they cannot accept the fact they have to be FORCED to admit their scamming tricks.
I reported this to CRFIN because according to STANDARDS AND TERMS OF BUSINESS FOR CRFIN MEMBERS:
6.1. CRFIN Members and their employees are prohibited from: 6.1.1. acting with intention to inflict harm upon another person, and to abusing their rights in any form; 6.1.2. deceiving or misleading, or attempting to deceive or mislead their current or potential customers. 6.1.3. willfully providing a customer with a false report, or entering a false record on any real or non-existing forex transaction to company documents. 6.1.4. disseminating false or misleading information on any instrument price, or a knowingly inaccurate report, that affects (or is intended to affect) the price of any financial instrument and/or trading decisions made by customers; 6.1.5. willfully submitting false or misleading information to the CRFIN; 6.1.6. embezzling any funds obtained from a customer as a margin deposit, or any profit from transactions.
And FBS: 1) FBS suddently changes terms&conditions without notice to put traders under disadvantaged situation (check the several recent reviews from other customers of FBS, as published on FPA ) - which breached clause 6.1.1; 2) FBS deliberately lie and distort about the execution of new T&C so they can choose which explanation can be produced to cause you loss - unless you take the effort to keep every bit evidence of your account and chat history, you won't have a chance to not to loss - which breached clause 6.1.2; 3) FBS creats fake account execution history - means they manipulate your trading account - they FAKED order 18741040 on my account to prove 'I had not enough margin to open a hedging position to stop lossing money' (Note the price they faked on that order is 1.33050 of EURUSD, and EURUSD never hit that price THE WHOLE YEAR by then, check my previous screen shot link for evidence in this thread) - which breached clause 6.1.3. 4) FBS illegally keeps my funds $5850.04 and refuses to return it to me - which breached clause 6.1.6.
And I have to warn everyone two most important points:
1. Though now the argument is about the funds withdrawal, the real issue you should be concerned is the original issue should have happened including:
1) FBS suddently changes terms&conditions without notice to put traders under disadvantaged situation (check the several recent reviews from other customers of FBS, as published on FPA ); 2) FBS deliberately lie and distort about the execution of new T&C so they can choose which explanation can be produced to cause you loss - unless you take the effort to keep every bit evidence of your account and chat history, you won't have a chance to not to loss; 3) FBS creats fake account execution history - means they manipulate your trading account - they FAKED order 18741040 on my account to prove 'I had not enough margin to open a hedging position to stop lossing money' (Note the price they faked on that order is 1.33050 of EURUSD, and EURUSD never hit that price THE WHOLE YEAR by then, check my previous screen shot link for evidence in this thread).
While FBS is trying to pull everyone's attention to the 'withdrawal dispute' should actually shouldn't exist at all, these facts are the ones people should focus and request explanation for from FBS.
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