Forexplace-4XP

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4XP=FXTG=SkyFX: The Proofs

oscarra

2nd Lieutenant

Hi Forseti, well by now we all know Commerzbank Frankfurt, hosted the criminal’s account of
ForexPlace 4xp, guess nothing wrong by calling them a bunch of criminals, since they are considered as such by the French Court.

Did you ever get a reply from German BaFin, it would be interesting to understand this EU Regulator explanations in concerns of eventual wrongdoing of its supervised financial institution.

Forseti

Sergeant

Yes, I have filed a complaint in Germany’s financial regulator-BAFIN., And they have responded me, they can not help in this matter.
BAFIN says he is not authorized to perform Investigations of the transactions of the bank’s customers, BAFIN replied that can not to take any action against the bank.
I’ve sent them, all the evidence of my transactions to the accounts that, «4xp» had at the bank.

So, I opted for the solution to file the complaint against the broker «Forex Place- 4xp » in the courts.

oscarra

2nd Lieutenant

Many others forwarded their funds to Commerzbank Frankfurt, believing it was safe.

“….Commerzbank AG, as payment service provider of the payee, has no contractual relationship to you as payer. Acting as payment service provider of the payee, our bank just has the duty to credit the transfer amount on the designated account of the payee. An exceeding obligation to take care of interests of the payer or the payee related with the payment does not exist. ”

Of course their statement is highly erroneous , requiring a criminal court investigation!
Even many years after….it’s never to late

oscarra

2nd Lieutenant

Ok, the last chapter of a standard BaFin reply (2020)

“I consider the bank’s explanation to be reasonable and therefore I have no reason to contact the bank. Transfer of Data to unauthorised third parties violates the bank secrecy respectively the Federal Data Protection Act. Only an ordinary court may make a binding ruling on whether the practice of Commerzbank AG was appropriate or not.”

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…so worldwide victims of 4xp would need to take legal actions on a German Court, just to find out what happened to their funds, sure seems to be complicated, not to mention all the small claims, the very next thing is, of course the Bank filed an AML Suspicion report retroactive!

No real point mentioning Commerzbank’s fraud history, thousands of honest people work there as well.

Here we go again, one more Payment Service Provider, excellent article

Just to get this straight, World Pay AP LTD. had been indicted by a French Criminal Court, and remains indicted on their appeal (15 sep.) the final sentence may include Jail.

Of course they are obliged by court for repair of damage. (they can fight it out with their buddy’s !)

The company including its illegal client, partner, reseller or third party criminals (what ever…) had caused enormous damages beyond the French public and of course as well in other country’s.

Some still pretend there are various legal loopholes, allowing robbing of worldwide consumers, NO .

Forseti

Sergeant

The former President of the European Parliament (2004-2007) told the newspaper He Said it following:
«claimed that worked with entities as Northwestern Bank and Commerzbank , and for months I was checking that all worked correctly.» They attended to the phone and it seemed that they were professional. «Supposedly, was a United Kingdom company, although the office that communicated , it was attended by French and had domicile in Paris».
«Well, it looked so absolutely normal, with Northwestern Bank and Commerzbank . You think it’s not a dangerous thing.

That is, he Former President of the European Parliament thought that the broker was legit because the broker worked with the bank Commerzbank

I also invested money in 4xp why the broker who cheated me had account with the bank Commerzbank.

A bank working with brokers and opening the accounts to brokers without checking or investigating that broker.

oscarra

2nd Lieutenant

Forseti

Sergeant

Mr. Borrel, an aeronautical engineer, economist, professor of business mathematics, former president of the European Parliament, several Masters, former President of the European Parliament, former Minister of Government in Spain, writer, and he speaks a lot of languages, an important politician in Europe and especially in Spain . and you see . cheated by a broker, Consortfx.

In other interview on other newspaper ,he said that he trusted the broker because there was a big bank that worked with the broker and it gave him confidence to deposit money in that bank.

Never again did he know of his money or those responsible for this broker, which operated in the United Kingdom, although the contact office, was domiciled in Paris.

«After contacting with the banks to which he had transferred his funds and responding that, these accouts do not exist, he decided to go to the police in June to file a complaint that was extended in July».

The Commerzbank was working with brokers that later these brokers disappear with the money of the clients.

I mean that anyone can fall into the hands of these delinquent brokers and swindle their money.
I am not an aeronautical engineer, nor an economist, nor a professor, nor a president of anything, I am a worker like millions of workers, and consumers who invest in forex trusting brokers who work with banks that seem to be important as the case of that bank.

And in my case, the broker 4xp-Forex Place cheated me 15.239 Euros, and that broker also was working with the bank Commerzbank, because I had transferred my funds to the broker’s accounts in that bank

4xp.com (Forex Place)

Ramneet

Recruit

Ramneet

Recruit

4xp Indian operation

Dear Mr.Hamilton
India is a potential country for forex, where Alpari, FX central have their branch offices and doing well. Your Indian counterpart CMO AXIS is so unprofessional, that I wonder how 4xp could gain foothold with their callous and lackadaisical approach to client requirements.

If you want your organization to grow in India, you could either make them work or change your representative. They do more harm to 4xp than your competitors.
My withdrawal of 1000$ is not returned because I did not give them the netsafe card payment details for few of my earlier payments, which were traded and lost !
I have documented proof for all this. I have even hinted that I may send a lawyers notice and file a suit in the court on 4xp and its Indian representative CMO AXIS. Nothing happened because they dont even know the repercussion of bad publicity once this goes to court. I may not get my money quickly, but 4xp reputation will vanish quickly. But then, do they care?
Regards
Ramneet

Ramneet

Recruit

Know Your Enemies Before You Shortlist Your Friends

No doubt about it, you are right ! 4xp is a scam company and your trade will suffer on two counts.. 1. They will trade against you.. ( like fencing eating the crop! ) 2. your money is gone for good. you will not either receive your earned profits, or for that matter, even the balance of principal amount . You will hear strange and flimsy reasons for not honoring your withdrawal.
Short and sweet : Forget 4xp. join some other approved trader or a good and reliable trader.. I was an account holder with 4xp , from India, and lost my money in both counts.

OTE=ramipsa;13022]4xp – forex place

these company are scam our what?[/QUOTE]

Ramneet

Recruit

4xp/CMO AXIS (India) Joint loot of clients money!

Mr.Hamilton
I have not received any reply from your end for my message. It looks you have none. My deposit to 4xp is through bank and the receipts are also through bank. If there is any situation, my bankers are there to take care of it. I dont need your CMO AXIS accounts manager , who does not even know what is happening in his own office ( This is his statement: Quote» I came to know of your issue only today, ( after 1 month of email dialogue between me and his office) the file is on my table. it looks he will not move out of his room unless issues come to his table!) to take care of my problems. Let him take care of his office and himself. It is a shame that you should have such incapable people as your representatives in our country.
Nothing has happened after your intervention and things have not changed.
My views are strengthened that 4xp and CMO AXIS accept money from ‘clients’ and eat it up. period.
I do not know how you will help in this situation ;probably you have your limitations. Maybe, if I file a suit in the court, the cat will be out of the bag; My money may be delayed or considered lost; but publicity for 4xp and
CMO AXIS , for all wrong reasons, is certain. Atleast, others will now know what is 4xp.
Regards
Ramneet
Best regards
Ramneet

Ramneet

Recruit

closure of account with 4xp

Mr.Hanmilton
I shall send all my email transactions to you. If you read them, you will be surprised. I shall await your reply.
Best regards
Ramneet

Dear Mr.Hamilton
India is a potential country for forex, where Alpari, FX central have their branch offices and doing well. Your Indian counterpart CMO AXIS is so unprofessional, that I wonder how 4xp could gain foothold with their callous and lackadaisical approach to client requirements.

If you want your organization to grow in India, you could either make them work or change your representative. They do more harm to 4xp than your competitors.
My withdrawal of 1000$ is not returned because I did not give them the netsafe card payment details for few of my earlier payments, which were traded and lost !
I have documented proof for all this. I have even hinted that I may send a lawyers notice and file a suit in the court on 4xp and its Indian representative CMO AXIS. Nothing happened because they dont even know the repercussion of bad publicity once this goes to court. I may not get my money quickly, but 4xp reputation will vanish quickly. But then, do they care?
Regards
Ramneet

Ramneet

Recruit

4xp / CMO AXIS India cheating clients

Dear Jayden
I have since sent all the particulars and details for your info and action.
Still I have not received any communication from CMO AXIS scam office.
Awaiting your action to return my money. If you want 4xp to grow in India
first thing will be to change your indian representative. CMO AXIS( 4xp) has proved to be dishonest in their dealings with their clients .
Awaiting your reply
Best Regards
Ramneet

Ramneet

Recruit

Dear Jayden
It is since one week that I have forwarded all my details on the dragging issue of my withdrawal,which you had promised to look into immediately.
Leave alone action, I have not even got an acknowledgement from you on receipt of my email ! If you do not intend taking action on clients requests on this thread, please do not post your credentials which do not stand up to your image. Please note, that I may continue to post about 4xp scam on not only this website, but on all available forums to make investing public aware of the 4xp loot on customers money, especially in India, where your CMO AXIS is looting clients money on the name of forex trading in 4XP.
Regds
Ramneet

Dear Mr.Hamilton
India is a potential country for forex, where Alpari, FX central have their branch offices and doing well. Your Indian counterpart CMO AXIS is so unprofessional, that I wonder how 4xp could gain foothold with their callous and lackadaisical approach to client requirements.

If you want your organization to grow in India, you could either make them work or change your representative. They do more harm to 4xp than your competitors.
My withdrawal of 1000$ is not returned because I did not give them the netsafe card payment details for few of my earlier payments, which were traded and lost !
I have documented proof for all this. I have even hinted that I may send a lawyers notice and file a suit in the court on 4xp and its Indian representative CMO AXIS. Nothing happened because they dont even know the repercussion of bad publicity once this goes to court. I may not get my money quickly, but 4xp reputation will vanish quickly. But then, do they care?
Regards
Ramneet

Update on 4XP, Forex Place, and Forex TG pre-binary options forex scheme

There have been forex and trading scams even before binary options. Later, the operators of these scams massively entered the binary options. Binary options were seen as gamification of Forex and Trading in the first years from 2009 and were only gradually registered as a financial instrument by the financial market authorities from 2020 onwards. The 4XP Forex scheme, which also operated with other brands such as Forex Place, Forex TG or FXTG or SkyFX, was one of those Israeli pre-binary options scams. Currenty, even these old pre-binary options schemes are investigated by the courts in several jurisdictions.

The 4XP scheme

The first traces of the 4XP and Forex Place scheme date back to 2008, when Forex Place Ltd was established in the UK and the British Virgin Islands (BVI) respectively. Forex Place Ltd in the UK was dissolved in May 2009 and replaced by Forex TG Ltd in the UK and Forex TG Pty Ltd in Australia. Both companies were directed by the Israelis Yossi Herzog and Guy Galboiz as well as the other persons mentioned.

Forex TG Ltd was originally licensed by the UK Financial Conduct Authority (FCA) and operated under the following brands in 2009 and 2020:

The license of the UK-registered Forex TG Ltd was revoked in 2020. From at least 2009 the BVI-registered Forex Place Ltd operated the 4XP scheme. Forex Place Ltd in the UK was dissolved in December 2020. The 4XP scheme finally vanished in or around 2020 when some companies were dissolved and/or directors resigned.

In Febr 2020, the Australian Forex TG Pty Ltd was renamed into Berndale Group Pty Ltd. It’s shareholders and directors changed but the rebranded company continued to operate scams.

The scheme’s key data

Name Jurisdiction Function
4XP, 4XT, FXTG, Forex Place, SkyFX Web The scheme’s brands
Forex TG Pty Ltd
prev. Forex Place Australie Pty Ltd
ACN: 113 616 032
Australia Operating entity
Forex Place Ltd
Company No: 1486603
British Virgin Islands (BVI) Offshore entity
Forex Place Ltd
Company No 06579985
United Kingdom (UK) Operating entity dissolved in 2009
Forex TG Ltd
Company No 06725261
United Kingdom (UK) FCA-registered Forex broker with Reference number: 491661, stroke off in Dec 2020
Yosef “Yossi” Herzog (born 1965) Israel Shareholder, director,principal
Guy Gelboiz (born 1979)
Guy Galboiz
Israel Shareholder, director, principal
Noam Chris Stiekema (born 1987) South Africa Shareholder, director
Yair Abramov (born 1945) Israel Shareholder, director
Benjamin “Benny” Abramov (born 1946) Israel Shareholder, director
Shimon Cohen (born 1951) Israel Shareholder, director
Roy “Roi” Douieb (born 1976) Israel Director
Meir Barak (born 1963) Israel Director
Roy Almagor Israel Director
Daniel Kibel (born 1972) Israel Director

Investor Warnings and Cease and Desist Order

As early as June 2020 the Portuguese regulator CMVM issued a public warning against 4XP and its operator Forex Place Ltd, registered in the UK.

In June 2020 the BVI Financial Services Commission (FSC) publicly warned against 4XP and in October 2020 the agency issued a cease and desist order against the scheme and its alleged operator Forex Place Ltd, registered in BVI in June 2008. The BVI regulator confirmed to a defrauded victim that Forex Place Ltd actually has never been licensed.

In October 2020 Forex Peace Army qualified 4XP as scam:

There are now 7 Guilty Verdicts in the FPA Trader’s Court. 4XP is not responding to the FPA about these issues. It appears that 4XP.com is no longer processing client withdrawals. Because of this, the FPA has no choice but to declare 4XP to be a SCAM.

In December 2020 the French watchdog AMF warned against 4XP.

German Commerzbank and BaFin

The 4XP scheme operators maintained banking relations with the JSC TBC Bank in Georgia and the Commerzbank AG in Germany. Despite warnings from financial market regulators since 2020, Commerzbank has accepted the 4XP scheme as a customer and processed payments for them at least until the end of 2020.

  • Forex Place Ltd, IBAN DE09 5004 0000 0588 9092 00

The complaints of the defrauded customers to the German financial market supervisory authority BaFin in this regard have not yielded any results. Neither did the complaints filed with the European regulator ESMA. Both regulators actually explained that they have no legal capacity to investigate and prosecute fraud. While this is true the least what one could expect from those regulators is to fulfill their regulatory obligations and issue additional warnings and question the involved banks. The BaFin, however, explained to the complaining victim that it is satisfied with the Commerzbank answer and will not get in contact with the bank.

Preliminary Resume

The former Israeli operators of Forex Scams later became the incubators of the gigantic Israeli Binary Options scam industry.

The co-operators of the 4XP scheme Yossi Herzog and Guy Galboiz became the most aggressive operators of binary options scams from 2020. Yossi Herzog, along with his partner Kobi Cohen and other managers and employees in the United States, is currently on trial for the Binary Options Scams surrounding the Israeli boiler room operator Yukom Communications Ltd (“Yukom“). Read more on the Yukom scam here on Cybersecurity Profilers.

The former CEO of Yukom, the Israeli Lee Elbaz, was already sentenced in December 2020 to 22 years in prison and $28 million restitution payment.

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