Protect novice investors: Awareness Easy Forex

Discussion in 'Forex' started by forex.victim, Aug 14, 2008.

  1. Dear Sir or Madam,

    I am asking for little of your attention that may help to protect many novice investors like me from disastrous experiences.

    The disastrous experience that I allowed myself with a specific Online Forex Trading Co., named Easy Forex, is of course solely my responsibility. However, in the process I have discovered several serious facts of which I feel obliged to warn the media and novice investor public about, especially within my region of the Middle East.

    Discovering these facts was not trivial, since one can not suspect these early enough and also because Easy Forex seems to disguise some of these quite well.

    I also call upon authorities that seem to have provided licenses to Easy Forex to consider these facts since the licenses encourage investors like me to engage with the company.

    The direct experience with Easy Forex

    After viewing an online ad, I became a client of Easy Forex. I was made to feel comfortable and invited to fund my account with little money and risk my money in a market that was presented to me as having endless profiting opportunities. These actually may be true. I felt additionally confident when discovering several licenses Easy Forex claims to have. I allowed myself initial trading losses believing this was a learning process.

    Soon after, I seemed to be left quite on my own without the promised client support, because additional client support required me to fund my account with larger amounts of money. Unfortunately, I funded my account further to receive additional support that Easy Forex named personal service.

    During this phase of the experience, I was many times advised wrongly about engaging in specific deals, I was chased by calls and alerts all day to deal, and got often trapped when the service and platform was much less responsive in difficult market conditions.

    After having experienced high pressure selling tactics, mind manipulation and a non-responsive service & platform, I ended up with severe losses. At this stage I felt trapped and pressured by Easy Forex to continue trading to recover losses.

    As a last hope, I asked for someone to manage my account for me. Easy Forex responded to this request with some difficulty but finally a private trader was recommended. However, the losses did not seem to stop happening and I got very suspicious about the quality of the trader, as well as his relationship with Easy Forex.

    Shocking facts discovered

    With no other hope left and severely financially damaged, I ceased trading and felt that I owed myself an investigation of Easy Forex before moving on.


    I enquired with staff about Easy Forex licenses and their meaning for the investor. I was told that these licenses ensure high level of client protection and service quality. When I questioned further, I was told that all branches of Easy Forex that service clients are licensed. However in my experience there was no regional branch and all service came from the claimed Headquarters in Cyprus. I wonder whether any license has any effect over the whole company and not just the so called branches.

    Internet reviews

    As a second step, I searched the internet extensively. First, I discovered reviews that mentioned the technical problems I faced with the Easy Forex platform and the damage caused to investors. Some also stated that Easy Forex is after the so called newbies, meaning non-experienced investors.

    A shocking website

    Finally, I came across a website called, which shocked me.

    I was confronted with historical evidence of high pressure selling tactics and client manipulation in 2005-7 similar to my own experience in 2007-8. Israeli names of people involved are also stated and checking the website one can discover their high rank within the company.

    Clearly form the website one can suspect that Easy Forex serves Israeli interests. Although this may not concern all people, for people like me from the Middle East this is a shocking fact.

    Finally, I ask all media and authorities contacted to please consider this information and act for the protection of novice investors like me from such orchestrated financial destruction. In addition Arab people should be told the truth about Easy Forex that is of important concern to them.

    I am asking for your understanding for maintaining my anonymity since I seem not to have the right for claims against Easy Forex, do not wish to go through more stressful communications, want to avoid hostilities and simply wish to protect the novice investor public with facts they may not discover early enough. This will at least comfort me little in the life-time difficulties I have inherited from this experience.

    Thank you.

    An Easy Forex victim
  2. Sounds to me like you should have done your searching on the internet BEFORE you began the trading process. Caveat Emptor, and all that.
  3. It's always sad to read of people losing money to scammers but the words 'due diligence' spring to mind, there's plenty of information available around the internet.

    Aside from that, what on earth were you thinking by risking money that, if lost, would cause you life-time difficulties?

    After losing small amounts, to make matters even worse you re-funded the account and handed it to an unknown private trader recommended to you by the very firm you had been having problems with!

    It's hardly surprising these firms exist and flourish!

    I can't help thinking there's a hidden agenda here, an Arab investor complaining about a company which apparently 'serves Israeli interests', even if it were true it has no relevance.
  4. Yeah, to be honest I don't know if this is spam or a real warning. There's only one post by the user.
  5. It looks like it's on a few other trading forums as well, maybe it's a new type of 'negative' spamming, demoting instead of promoting :)
  6. DRiSsT