FXPIG doesn't process withdrawals

Sent withdrawal request a week ago, on Friday, marked as done but no money in my wallet, keep saying they will check with their finance team and PSP. Maybe I missed something, has this broker turned into scam already? Acc 700157

During the stage of registration with the broker, were you asked to confirm your banking details, and did you have to send KYC information such as proof of identity and proof of address, and proof of bank account ownership? Did the broker acknowledge and agree? Have you changed your bank recently? These all seem like silly questions, but you never know.
By what method have you raised a request for status information on the transfer and have you kept a copy of that request (eg screen shot of a web based enquiry service, via which the only way you can keep a record is as I have suggested?

Their business processes may just be not as integrated as many assume they are, and if their service line staff have had Covid, or a recent overload of inquiries or the business has suffered a level 1 IT support issue (like servers going out of service), that could explain the situation without expecting the worst.

I hope you see your money soon. I’m an optimist - keep in mind, human error is far more common than fraud.

UPD: No withdrawal yet, requested on 18 Feb . Keep saying “your funds are safe you will get them soon”. Refuse to investigate the issue with their payment service provider.

Do they have a written escalation process in their terms and conditions, both internal and external to their organisation? Like - your bank does? In the UK this is a legal requirement of any financial business registered in the UK. But wait - this is a Forex broker. Does that mean we do not do due diligence like we do when we choose a bank?

UPD: still no withdrawal (request from 18 Feb), they claim they try to investigate but no progress so far. Looks like money is gone :frowning:

Hi,
Write again, this time tell them you are taking this up with the “xxxx” where in the UK xxxx is the Financial Ombudsman. In the case of your broker, you will need to find out what is the equivalent of xxxx. Keep all correspondence whether by e-mail, SMS, text. Be prepared to send the evidence to the jurisdictional authorities to which the broker reports.

Oh, I see. Just checked. Registered in Vanuatu.
https://fxpig.com/standard_account

Prime Intermarket Group Asia Pacific Ltd
Level 2 Transpacific Haus Lini Highway
Port Vila, Republic of Vanuatu

Did you try their London office (payment agent?). UK Financial Ombudsman is applicable. Don’t jump over more than one step at once. Ask them again for their complaints escalation process and if they do not reply, then by all means contact the Ombudsman with a formal complaint

Alchemy Prime Ltd, 13 Leyden Street,London E1 7LE, is the payment agent for FXPIG. Both Alchemy Prime Ltd and FXPIG are part of the same group of companies under common ownership