UFX Bank – a complete scam?
UFX Bank is a pretty big and well known forex broker that got some bad publicity within the last few years. There are several reasons why UFX Bank is not considered to be a reliable forex broker. Right now, there are now lawsuits against UFX Bank or something similar but there are some very serious complaints against UFX Bank.
The Internet offers plenty of opportunities for traders to tell the community what they think about certain forex broker or other offers. This is absolutely ok. But it’s not ok if a company writes positive reviews about itself. That’s what UFX Bank did. They said that it’s the fault of a blackhat SEO company that worked on the search engine optimization of UFX Bank and used these methods. You have to ask yourself: what serious forex broker hires a company like that and gives them even access to sensitive information? How safe can your personal information be with UFX Bank?
Another problem is that it seems UFX Bank is not registered at the NFA. The NFA number that UFX Bank claims to be theirs does not exist in the NFA database. This is not a good sign.
Experiences with UFX Bank
Let’s take a look what real traders have to say about UFX Bank. As it’s proven that UFX Bank did fake some positive reviews, we can’t take positive reviews that don’t find anything negative too seriously.
I wanted to close my UFX Bank account and have been called from different persons in a short period of time. They all wanted me to keep trading and wanted me to make at least one last transaction. They have been so annoying and I was so pissed that I agreed that I’d open one last silver position. The account manager put my whole bankroll at stake and I lost it all. That’s not what I wanted but they were happy now because I lost everything. To me, UFX is nothing but scam.
My account manager always told me to open positions that are way too risky. I believed him and now all my money is gone. I think abouting suing them.
I have problems with my withdrawal. Maybe it’s due to the fact that I asked them to close my account simultaneously. UFX does not want to lose costumers and they try to keep you as badly as they can. This says it all about this broker.
UFX is a scam. Don’t use them and trade with a broker that is regulated by the NFA.
Withdrawals at UFX bank don’t work. I complained and now they seem to work smoothly.
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UFX Bank - a complete scam?,
I really emphasise with You after painfully losing $70,000 in a hedge fund Organised by Alex Milienko who disappeared while working with AAOption. I agree with you that it’s difficult to treat anyone in this industry as a Friend unless he is from Big Option or Ftrade.com There are honest as well as dishonest guys in this world. It’s difficult to distinguish the good versus the bad guys
I emailed them asking to get my account deleted and quit calling me. Luckily the calling stopped, but getting my account deleted seems impossible.
They will advise you to open very risk positions with no stop lose, you will make some money sometimes but you will eventully lose.
I opened a bad silver trade and I was losing 3000$ I counsalted my account manager that I want to close the trade instead of losing more but he advised me to keep it open stating that the silver will go up again. I kept it open, I asked him again when I was losing 10000$ but he replied the same and asked me to put more money!!! I ended up losing 15000$ in one trade as my equity was going low and I decided to close the trade.
I was also advised by my account manager to open 4 buy trades of 500000 GPBUSD which I did and then I lost every thing remining in my account.
It is very risky to trade with this company. You will lose all your money.
These Forex or CFD providers are all con artists .
It looks good to the novice trader , I will get rich quick .
The truth is it is exactly like poker machines or the casino
the odds are stacked against you .
You can make thousands of dollars quickly , this seems like the way using there margins etc.
It isn’t it is a trap , Markets move in waves 5 waves up and 5 waves down waves 4 and 5 are usually up a little and hide indiscise .
I have seen that indicators , trailing stop with dots under bars when triggered decide which direction too trade , more or less this is a auto system , but you are still trusting your money to these organizations when having money in there account . It is there account and money until it is sent too you , just like all banks . But banks are a little more safer .
I prefer currencies which can be traded through business banks without margins .
You have to have money , or it is back to CFD providers and margins and very big risk .
I count waves of markets , GOLD , CURRENCIES , DJI STOCKS .
These markets are all tricky for a reason . In this life information that is given , it does not matter what kind of information after great testing you will find it is most likely deceiving in one way or another , this is the control our masters have over us .
In the end these masters unknown to you , don’t want you too have money or earn a living like this , they want you to produce and work , then they can trick you and rip you off .
knowledge is dangerous .
contact me if you like to learn .
To send you thanks regard
However he kept on call ing me and succeeded to convice me that the innitial deposit was only $250 and he would take care of my account and he would open trading deals on my belhalf. He convinced me that he is been into trading for last 10 years and it was very easy for him to open good deals earing profits…. I trusted him and made an initial deposit of $250 via Western Union (Hershie Rosenberg), the WU agent for MxTrade .
After the depost done , he opened my account on https://mxtrade.sirixtrader.com and sent me my log in details where I could see the trading deals that he opened for me as my account manager…. in the beggining , he gave me an impression that I was earning profit as my balance was increasing…
In the meanwhile he started asking me to depost $1000 more in order to have more profit which I refused …. he tried his level best to convince me for adding more to my balance but he failed to convince me….. withing three days he told me that I lost my account and my $250 gone as my balance was not enough to trade further…. it was a nightmare ……the broker was also communicating with me on whatsapp with the number +966549792745….he was a fraud…. fooling people like he did with me……. I approached MXtrade trough live chat , explaining my position but in vain…….
I would like to thank you all for sharing your experiences with them, it was quite helpful to understand the way they deal with their clients and I feel sorry for what happened with you.
#Scamprooforlife
Andreas
chris-canman@outlook.com
They just made deals on MY behalf in MY account – withOUT my permission – causing me loosing lots of money.
I never experience fraud on this level before. Its very scary. Be aware.
This is NOT about you making bad trades.. But about THEM taking over your account until you loose money. YOUR money but totally out of your hands.
This is NOT legal in any way.
This is exactly the same as just walk to one man and steal all his money from his pocket. No less….
I dont even believe the trades you make on that page is “real”. All the money is going to ONE man behind it all. And all the employments get a little piece of the cake evertime they get one account traded out.
When i read the bad reviews i thought it was just people making bad trades. But now i found that its really refined SCAM thats going on.
BUT…Not long after i opened my trades… some in plus.. som in minus – they closed every trades automatically – and after that i just received an email:
OIL has an international contract from the 18 to the 18 of every month
trades are closed automatically….
I lost 300k they made 167k with my money in commissions…Evil bastards they will pay
Could you please suggest me What Can I Do?
Im a latest victim that has lost all my money overnight. I have strategies in place with very experienced people at hand. It comes down to outright negligence to trade out someones hard earned life savings overnight. Apart from not having 24/7 trade assistance as mentioned in the opening portfolio, negligence alone will stand justice in a court of law when a total usage of 15% of your equity is agreed upon by both parties. Such an experienced fourex trading officer, who oversteps this line and sells you out is negligent by not making judgements and totally disobeying their duty of care for their valued clients bests interests. Any court of law worldwide recognises this. If you can reply back to me and any other UFX scam victim that wants to take action, can reply back their email details to me from this reply, I will confidentially respond back to you with advice and direction. Im waiting to receive your emails.
I’m also a victim that lost over 670 k .please let me know how to get my money back .as you know the account manager will ask you to open the trade and then we push the buttons by our hand .
Abdalawnah@yahoo.com
Of course I had already decided NOT to become involved with UFX and just keep my money where it is safest : And that is most certainly NOT a UFX account but just my own bankaccount !
Is this professional behaviour from a legitimate company to keep calling and calling and calling from different phonenumbers ??
I told Mark Bosch once that I have hardly any spare money to trade but he still obstinately keeps on calling me ??
A reputable broker would most certainly NOT be interested in me but only in wealthy traders who would have 5 or 6 digit amounts to spare for trading !!!
Do I need UFX or does UFX need me …… ???!!!
Liam151807@hotmail.co.uk
He says UFX is located in the UK however the phonenumber displayed is a number in New South Wales Australia where I live.
He sounds legitimate enough and says to open a “small” account of $500 and just receive the trading lessons from UFX. As I have very little money myself I am still scared and reluctant to deposit even $500 into an account. Can someone recommend to me what to do ??
Thanks for all your info. You all should know that before you trade, you must do your research first before signing up. Always check reviews on particular broker before trading. I advice you not to give away any sensitive information on a phone conversation. The best way is not to entertain the sales personal who proclaim to be your account manager. This is definitely a SCAM…
Robert
can someone help me please give me some advice is it possible to earn there my money back or is there an better market website to trade on?? is forex beter?? help me someone please mone that iv lost is really a lot for me… mail me at j.jetlee@hotmail.com
thanks
Someone just hacked my email today and signed me up to that site.
I really have no idea. I talked to their customer service and they said that they cannot closed accounts. I feel bad. My real full name is on it.
I am also in trouble because of account Manager. The account Manager asked me to open a trade that was very high risky and all my money gone.
In this situation, what you did? Did you get back your money ? Where did you complain against that company ? Please advise me.
There are more than 40 complaints online with total loss of 1.8 million dollars
I don’t know how these people are able to continue.
drop me your email address. I have a solution.