Warning - InvestTech brokerage - scammers - Pip Cop

dknoll58 · 2009-12-12, 09:21 PM

I would like to put in a **WARNING** to anyone using "Invest Tech FX" as a Broker

. I have been trying to get funds from my account with them for almost a month with no success. I have sent them many emails and they keep giving me the run around. One of their emails asked me what I needed the money for. I am including links with this post to prove that I am not the only one experiencing problems with this Broker

. Thanks and take care everyone. http://www.forexpeacearmy.com/forex-...esttechfx.html
http://www.forexpeacearmy.com/public...hfx.com?page=1

dknoll58 · 2009-12-13, 12:52 AM

PipCop: Noticed your living quarters. I'm located in Ashburn Farm, Ashburn, VA. Close to home, Buddy. Close to home. Take care. David Knoll

**PipCop** · 2009-12-13, 08:10 AM

Hi David, I am sorry to hear about your problems and thank you for the warning.

And yes, I'm just down the road, near Sterling

Blvd and Rte 7. We've probably sat in the same traffic jams and didn't know it.

civicsi411 · 2009-12-13, 09:58 PM

It's a small world after all

dknoll58 · 2009-12-14, 01:37 AM

Me again about Invest Tech FX. I just received the latest email after requesting my money back (posted below) and I am still receiving the same run around. But at least, they are being nice about it. But, that's because I am always being nice to them in my request emails. Now, I want to use all those human things like yell, shout and call them names. But I also know that would make things worse and give them even more reason and also feel more justified to keep my money. I will keep sending them nice withdrawal requests and I guess sooner or later they will not respond at all. But, we'll see. Take care everybody. Hope everything works out better for you.
from

InvestTechFX <investtechfx3@yahoo.com>to

David Knoll <4xknoll@gmail.com>
date

Sun, Dec 13, 2009 at 9:55 PMsubject

Re: Withdrawal from Account 19935mailed-by

yahoo.comsigned-by

yahoo.com
hide details 9:55 PM (3 hours ago)

Dear Mr. Knoll:

We are writing in response to your recent email regarding your Real Trading Account Number 19935 and your request for withdrawal.

You opened your account on November 1, 2009 and have done no trading. Is there something we can do to be of assistance to you to assist with your trading activity and experience. Please let us know how we can be of assistance.

Thank you,

Support Team
InvestTechFX

http://www.investtechfx.com/auto-trading.asp

**pipdetector** · 2009-12-15, 06:00 AM

Well, I am afraid I will be in the same trouble soon.

So far I have been mostly uploading money to my ITFX account. I heard some rumors about them, but generally I cannot complain.

The first time I funded the account with 1900$ and I withdrew 250$ after the account reached 2250. They also gave me the spiel about why I am withdrawing etc, and I told them that it's my policy to withdraw any surplus amounts above 2000$. They sent me the money. I did not try to withdraw later.

[Addition]

The way they operate is definitely curious:
1. They accounted some of my money transfers twice.
2. They offer

10% bonus on all fund uploads over $1000 until the end of December. This seems really high.
3. They have not been charging swaps for the last 3 months (understandable with EUR/CHF and USD/JPY -- but AUD/NZD? -- all other brokers fleece me on this pair -- I should be happy about this, but I dunno...)

**rsmereka** · 2009-12-15, 10:36 AM

Quote:

Originally Posted by pipdetector

Well, I am afraid I will be in the same trouble soon.

So far I have been mostly uploading money to my ITFX account. I heard some rumors about them, but generally I cannot complain.

The first time I funded the account with 1900$ and I withdrew 250$ after the account reached 2250. They also gave me the spiel about why I am withdrawing etc, and I told them that it's my policy to withdraw any surplus amounts above 2000$. They sent me the money. I did not try to withdraw later.

[Addition]

The way they operate is definitely curious:
1. They accounted some of my money transfers twice.
2. They offer

10% bonus on all fund uploads over $1000 until the end of December. This seems really high.
3. They have not been charging swaps for the last 3 months (understandable with EUR/CHF and USD/JPY -- but AUD/NZD? -- all other brokers fleece me on this pair -- I should be happy about this, but I dunno...)

The way you and David describe these guys, definite red flags go up in my mind.

To think I was considering opening a live account with them. It feels kinda scary now

Rick

Stelen · 2009-12-23, 06:54 AM

Hello all, here is my story.

When I opened a account with Investtechfx.com I was looking for a company who is based out of a country with a good credibility. Also wanted who will need minimum funds to open a account and use Paypal also for financing the mini account. And since I wanted a low risk because I'm new to this Forex currency

trading. I was learning and trading smaller lots (mini and micro) I made $ 2200 USD from the $ 300 usd initial investment in few months. Then I wanted to withdraw some of the funds to see if the broker

is legit. On Nov. 12 2009 I have sent them a withdraw notice for $ 500 usd to my paypal account ( from which I have made the deposit), they wrote back that my request is in process. Few days later still no money I wrote them again, then they said that I have made some standard trades on my mini account and refused to send me the 500 USD. On Dec 1st 2009 I had 2 open positions of trading, that day they closed both without any explanations with a loss of (in my account at that point

margin

over 2200 USD) -290.00 USD. I wrote to them that I want to close my account immediately and withdraw all the funds. They wrote me back that they offer

me $ 500 USD and close my account. I said NO, they offered 800 USD, I said NO and I wanted me to see all my trades in details describing my ''supposed illegal trades'' then the offer

was 1000 usd. I said NO, I was still demanding explanation how they get to 1000 USD from 2200 USD. Never got a answer or explanation, I wrote to BBBin Canada, but nothing happened yet. So I just want to get my funds and close the account simply. In your opinion this legal and they have all the rights to offer

me only a fraction of the funds? (even sending me detailed explanations how they get to 1000 USD from 2200 USD?)
Recently just found out. the corporate office address in Toronto maybe only a virtual office they are renting, so according to a Canadian Laws, it is illegal to run a forex broker

business. Also the business (forex broker

firm) is registered as ''InvesttechFX software solutions company''. The reason is probably for that is avoiding any regulations by forex assosiations.
Any suggestion/opnion is welcomed since I'm new to forex trading, and I could forward all email commnunications between me and InvesttechFX.

lenka

**pipdetector** · 2009-12-23, 07:28 AM

Well, sounds like there is no more need for any further proof that they are conducting scam operation...

I guess closing the account will be the first thing to do after holidays.

Stelen · 2009-12-23, 09:11 AM

Quote:

Originally Posted by pipdetector

Well, sounds like there is no more need for any further proof that they are conducting scam operation...

I guess closing the account will be the first thing to do after holidays.

yes, that is what i'm trying to do, but as you read above, they want to keep most of my funds in the closing process.