Is this the norm in forex?

I agree with @MaydayJane this definitely dosnt seem like a normal operation. No broker talks about other clients… or get emotional/angry/sad that you are leaving…

So its either a struggling or shady. Are they regulated by the Cyprus government ?

Keep up the persistence!

If you want to withdraw your money, nobody can convince you otherwise, the fact the guy on the phone is getting his knickers in a twist is because there is something else going on.

The promises of phone calls, is just to stall you and buy them more time.

The company is owned and operated by: Beneficiary name “Tech Marketing” LLC - they’re nothing more than marketers trying to sucker in as many people as they can.

Your broker shouldnt have any say in this as this is your investment and your return.
It can be either way, your broker/adviser really cares about you or they are fooling you.

Well, they claimed they are regulated by FCA. I believed them initially, because they demanded that I verify my identity which I’ve done. I seriously dont understand what’s going on.

I really dont think that they care about me, I think they are fooling me. I have no trust whatsoever in them anymore.
I’m gonna write him an email tomorrow and wait for him to come back to me.
What else do you think I could do to get my money back. Your advice is greatly appreciated. Thank you

Something tells me that they won’t let you withdraw and you have to ask them to withdraw your original deposit ASAP. Usually broker distance themselves from trading decisions of a trader, because clearly there is a conflict of interest - if the broker is a counterpart for your trades they are interested in letting you lose your money. All-in-one financial services like your describe is a usual business of scoundrels

Oof. I haven’t heard of stories here before where they were able to get their money back. You should prob add the name of the broker in your title just to help other newbies out in case they were thinking of working with them. :sweat:

Thank you for you support. The name of the broker is: UFTGROUP

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Have you asked them when you are available to withdraw the money?

Ask to withdraw at least what they have earned from your initial balance.

Everything about this story screams SCAM.
If I were you I would take very bit of information I have, every email, every call, EVERYTHING including screenshots of your account and send it to the proper authorities in Cyprus, they are surprisingly OK about handling these matters.

Once you’ve done that begin bombarding your agent with calls and emails - make yourself un-ignoreable

Find every outlet on which they operate - Facebook, Twitter, Forums - ANYTHING and start leaving negative reviews.

If you are consistent in doing this they will eventually cave and give you your money back because they care too much about trying to scam some other poor bastard and they can’t do that with you leaving CAUTION signs all over the internet.

What can I do now to get my money back? They dont even pick my calls anymore :sleepy::sleepy::sleepy:

Should I report them to Crime Watch, the Police or what can i do? Please help me guys! Thank you.

They’re not even picking my calls. Now I have closed some trades with profits…and I dont know how to open some more. The Broker helps do this with me every 3 days. Your help is urgently needed please.
Thank you

DO NOT MAKE ANY MORE TRADES!!!
Close any position you can and wait out those that you can not close.
The more open positions you have - the more room they have to scam you.
Take screenshots of your current account balance and of any open positions, and keep taking those screenshots until all positions are closed, then make sure that they all “add up” properly to what you have in the account.

Once that’s done start going to police, credit card companies etc, but no matter what - document everything about this.

The more documentation you have - the better chance you have of getting at least SOME of your money back.

Yeah better option is to wait for them to reply.
Well its an unregulated brokers, so you cant file a complaint. I dont see any other alternative to be honest. Recovery agents maybe?

This smells like a scam. I’d say start taking action right away

God bless you.

Good idea! Worth a shot.

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No good news for you here actually. Sorry. The company you’re talking about is NOT regulated by any authority. If you study their website uftgroup.com there are too many “red flags” confirming that: there is no license number and regulatory authority indicated, the operating company “Tech Marketing” LLC is registered in Bulgaria, Contact Us section gives you the office address in Cyprus, UK phones and Azerbaijan PSP (payment system provider), Bonus practices were prohibited long ago by all EU Regulators.

Still, will try to help you but be ready - it will not be easy. First of all, I’m not actually sure that you really have profits on your account. It might be a virtual bonus just and as soon as it is removed (and it will happen during withdrawal), all profits will disappear and actually it may occur that you’re in loss, not in profit. For a future – nobody will trade for you on your 1-3-5K balance account for free aiming to make you rich. Even not for free, these are not the sums.

Want to try to get your money back? Forget about profits, demand the initial deposit be sent back to you:

Stop calling or trying to contact your account manager. These guys do not solve anything. Send the e-mail to the indicated address on the site: [email protected]
The letter should contain: “Hereby I, Full Name, apply with the official complaint in regards to the improper services provided to me under my trading account XXXX and your ignorance of my withdrawal request submitted XX-XX-XXXX (date). I demand to confirm the immediate withdrawal process as you’re obliged by the law. The funds must be sent back to the initial source of deposit that is my card (? or whatever you used for deposit). Please confirm urgently as my next step will be the official complaint to the Financial Ombudsman Service in the country of your operating company “Tech Marketing” LLC registration, i.e. Bulgaria, and chargeback.”

If someone calls you, do not negotiate, just demand immediate withdrawal of your initial deposit. If no reaction is received, be ready to execute your threats.

Many thanks to you. I’ll sure do as you’ve advised.

Thanks for this advice. I’ve just closed some positions with profits now.