Report: #1504489

Complaint Review: IQFX Investments - Cambridge Massachusetts

  • Submitted:
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  • Reported By: A3 — Tampa FL United States
  • Author Confirmed What's this?
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  • IQFX Investments 77 Massachusetts Ave Cambridge, Massachusetts United States

IQFX Investments Elena Started an account for $500. Made a gain overnight of $1300. Received a promo to multiply my gains if I sent another $850. Did that and profit showed $19k gain. Then account suspended subject to be frozen unless upgrade to a silver account from the mini one I opened. Was never told about that part. Tried to go do a withdrawal from account then decided it was fraudulent. Cambridge Massachusetts

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okay so I never spoke directly with Elena. Her number was the number I provided on here. This number was also listed in another complaint I saw on the ripoff report site so I’m adding mine. I started the account with $500 on Monday into a mini account ( no info on why that account). Made a gain of $1300 overnight and received an email with that info then was told there was a promo to multiply my profits up to 15k but I had to add $850 to get in on it. So of course I did. Then received and email that evening that I had made a $3k gain overnight.

I go to log into my IQFX account to see my account balance is now $21k. Thought too good to be true. Nothing was emailed to me Wednesday night overnight. Then I received an email Friday morning stating my account was suspended because my profits exceed the he limits of a mini account and I have to add $2680 worth of funds to upgrade to a silver account so I could withdraw my money otherwise it would be frozen by the US and UK mining monitoring pool act. Have no idea what that was. At this moment I said this is a scam, get out now! But I decided to confirm this was a scam with Elena.

Immediately she was defensive and told me to trust the process. Very aggressive now saying that I need to do the upgrade so we could both benefit. I screen shot everything we did online from the purchase of my Bitcoin to verifying with my bank to release funds because I was the person doing the transactions.

I hope that this comes in handy for someone to help their case even if I never see my money back. I archived our what’s app conversation where Elena navigated my signing up on a Guarda App to purchase Bitcoin, the Coinbase app to purchase Bitcoin and getting me verified with Cash App as well. I was deceived by this and I hope it helps anyone else who gets involved with this company.

Elenas’ main presence was on social media via Instagram. The number provided was used for text and what’s app only. When I questioned support online on the account website with IQFXinvestments they we’re just as aggressive to state I lose everything including my principal if I don’t upgrade. I played along and pleaded that I don’t have the money to upgrade then they abruptly stated call us when you do. This was via the support robot for questions on the website. Never gave me a timeframe for when the account would be frozen. Never told me the Mini account could only hold $5500 in profits. Elena supplied all the web addresses and items to place in the respective blanks while signing up for my account and transferring the Bitcoin I purchased.

So all of this were red flags that I ignored in hopes I could trade through someone that knew what they were doing. I was doing this to get up the money to start trading myself once I got better at it. It can happen to anyone if they are approached by the right scammer at the right time. I was attempting to build money so I could use that to trade myself instead of using my income. I’m out of $1300 and advising my bank to issue me another card. Hope this helps someone before they get caught up in the same thing. If by some slim chance this turns out to be a misunderstanding I would be happy to retract my report.

This report was posted on Ripoff Report on 01/30/2021 10:24 AM and is a permanent record located here: https://www.ripoffreport.com/report/iqfx-investments/cambridge-massachusetts-elena-1504489. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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