Scam Alert! - UFX.com

This morning when I woke up, I checked the Bitcoin price via Google as I often do, after checking it, I realised there was an ad at the top that I hadn't seen before, from a company called UFX.

The company claims that it will give you £50 free, to trade in Bitcoin (I'm sure this will be set to local currency) if you open an account with them.

I don't usually look at ads like that, but since joining Steemit and becoming part of something really special, almost by accident, I like to check these things just to make sure I'm not missing out. I clicked on the link and was greeted by this page.

This was a little disappointing, as I was expecting some info about what the bonus was, how to claim it, and so on. So anyway, I did what I do before potentially dealing with any new company, I type in the name of the company into Google, with the word scam added after it.

What came up prompted me to write this article, there seems to be a history of complaints against UFX going back at least a couple of years. They also seem to have changed their country of incorporation at least once whilst receiving hundreds of complaints. Which is never a good sign regarding any company with so many complaints against it,

It would seem that the main complaints, seem to fall into three categories:

• Getting bad advice

• Not being able to close accounts

• Unauthorised withdrawal of funds

It appears that most people have either one or all of the above complaints.

There are many blogs and forums with complaints about UFX, going back many years, however I found a blog post that seemed to have the most up to date complaints.

Maryam
May 6, 2016 at 3:18 pm
They have stolen $30000 from my bank account. The bank and federal crim investigation is chasing them up. I hope they get arrested very soon
Reply
Dave
May 22, 2016 at 3:07 am
I would like to thank all the unfortunate people who have been scammed by this criminal organization for having the >courage to share their experiences and warn others from being conned. I opened a demo account with them and other >genuine brokers to help learn to trade fx. I have received phone calls of support and offers of help from some but a >barrage of phone calls from these clowns insisting that I need to open a real account with at the very least 500 USD. To >be honest they almost had me convinced, telling me I was obviously very intelligent and not to invest with them would >be stupid. However after checking with Google, the huge amount of investors that have been ripped off makes me >wonder how on earth they can still be in business. Could I suggest that at least the first names of the so called account >managers be mentioned on here ? I have been contacted by Benjamin and Eric. All the very best of luck to those of you >who have been scammed to receive at least some of your stolen money back.

As you can see the above comment and reply is from just a couple of months ago, May 2016 and the original blog post has been there since at least 2012, as this comment below shows.

aiman bassoini
March 13, 2012 at 7:31 pm
Absolute thieves. schocked why are they still not in jail. they know very little about trading but a whole lot about casino phsycology and how to trick and scam victims. actually all of their “known” officers are ex casino and gambling. the tricks they train their “thiefs” are focussed on deposits and making huge one time loss on a massive spread.

It would seem that each year since at least 2012 they have had a litany of complaints against them.

Mark
October 18, 2014 at 2:41 pm
UFXBANK has stolen my money and refused send me my money when i requested a withdrawal they called me trying to convince me to trade more and when i refused and insisted on withdrawing my money ,the account manager opened massive trades with 8 big lots and i lost all my money 16.000 USD in 2 days , THEY ARE THIEVES .

Read the full post here: UFX Bank – a complete scam?

I know there are a lot of novices in cryptocurrency here on Steemit, so make sure you always do your due dillegence. That means you should not only check out the asset you are thinking of investing in, you should also check out who you are investing with.

Do what I do and put the name of the company followed by the word scam and most of all, don't be afraid to ask the many experts based on Steemit. These guys have many years of experience between them and often a quick question, which requires a simple answer, can save you a lot of potential pain.

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Are you worried about a company? - Have you been scammed recently? - Do you know of a company to avoid? - Comment below and help your fellow Steemians!

Till next time.

Stay safe
CG

Disclaimer: I am not endorsing any views that UFX or any of its subsidaries is operating an illegal or immoral business. I am merely pointing to the many customers that make these claims. My research has been limited to reading numerous customer complaints on public websites and the UFX.com terms & conditions. After these investigations I have decided to alert the users of Steemit.com to the many damaging claims about UFX. I feel justified in titling the article Scam Alert! - UFX.com, as I am reflecting the general consensus of a significant number of UFX customers and ex-customers. I welcome any UFX employees to leave comments below and to answer any allegations of wrongdoings against them.