• Report: #371846

Complaint Review: Retail FX Limited And EToro.com

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  • Submitted: Thu, September 11, 2008
  • Updated: Fri, March 27, 2009

  • Reported By:Seol Other
Retail FX Limited And EToro.com
13, Grigoriou Xenopoulou Str.,Elegant House, Suite 103, Ayios Nicolaos, Limassol,, Cyprus Cyprus

Retail FX Limited And EToro.com Forex Scarm Ayios Nicolaos, Limassol, Cyprus Internet

*Consumer Suggestion: Report E-toro to CYSEC (Cyprus Security and Exchange Commission)

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RetailFX Limited and www.etoro.com
Both of these companies they have Forex trading company online, I have been dealing with www.etoro.com as they are RetailFX Limited Partner.

I Start trading with etoro.com since July 2008, back then i didn't do any check on the company but since i start havening problem like, as I am trading it system take my money and tell me due to stop loose where i am looking at it and it never rich the stop loose so I called the manger and asked him about what's going on he said or sorry, system problem, i accepted that, and he reversed my money back into the account, but the real thing is that I could've had won over $4000.00USD, so I start monitoring the system since then and it happen again and he come with accuse that sorry its not us its our broker in the USA Retail FX and real retail FX is they business partner as you see on both websites and shearing same address, and they never gave me the money back, I called them after 12 days to see what happen to my dispute the manager put me through to account manager where he say sorry it happen and we can't guarantee any deal on trading and some more excuse after i threaded them with court he said give me 2 days and i will come back to you, so after to days he come to me saying we are happy to return your money, so they just returned my initial deposit that i placed on the bid, where i could've made on or about $3000.00 to $5000.00USD so i carried on for a week then same things happen again, I called the manager again to ask him what's happening to your system he say sorry we can't reverse your money because some reason just like that they took the money so I told him I had enaf off your company please close my account and send me the money and i went on the web and requested to withdrawal the money and waited and waited but they never send the money so I went in reversed the money and start trading again, now here I start winning money and when I go to close the deal to take profit they wouldn't let me closed for over three minutes until it goes down and made no money then the deal was closed by it self i called them and said hey what's happening to your system its not letting me closing the deal and take profit so one off the manager called me and said i will take care of it just give me 1 hour and i will call you back, so the manager called me back and gave some excuse it will never be excepted by any one, anyway durring this all time I was taken secreen shot and saving them. so when they come back to me with final answer no we are not given you your money back, I start investigating the company i found the company is not regulated and RetailFX and etoro.com are partners and they are at same address and when I asked where is my bid getting placed they gave no answer at all, then I sespected they are Fraudulent company, I start warning people and members on etoro chat room then they shuttdown my chat facilletty so I don't tell real memebers and beginers to becarefull and to withdrawal they money and move to other company as this company is Fraudulent company and not regulated.

N.B: I tell every one trading Forex to check if company are regulated first or not if they are not do not trade with that company meaning its scram and rip-off company.

Yeahwon
Seol
South Korea

This report was posted on Ripoff Report on 09/11/2008 12:09 AM and is a permanent record located here: http://www.ripoffreport.com/r/Retail-FX-Limited-And-ETorocom/Ayios-Nicolaos-Limassol-Cyprus-3101/Retail-FX-Limited-And-ETorocom-Forex-Scarm-Ayios-Nicolaos-Limassol-Cyprus-Internet-371846. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Suggestion

Report E-toro to CYSEC (Cyprus Security and Exchange Commission)

AUTHOR: Naji - (Cyprus)

Dear Investor,

Regrading the Scam with E-Toro and Retail FX, you can report them to CYSEC (Cyprus Security and Exchange Commission).

Please use this link: http://www.cysec.gov.cy/default_en.aspx

Go to the "Investment Firms-Regulated Markets" section and click on the 'Contact us' link.

If you need any help please do not hesitate to contact me on my email: naji_e@yahoo.com


Regards

Naji
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