FX Brokers Feedback

Alex75_2

Spoken to the chap at Trading Standards and told me that the owners/managers of the company are abroad.
This tells me that we can’t expect too much from that Barclays account as I suspect is in red.
Next time I will deal with a more expensive FSA regulated broker that’s the lesson I take.
Thanks to all of you for your precious cooperation.

starlig12

We have the same problem of funds stuck at FXA. Not had a problem in the past with them.

This forum has been very useful for contact numbers as we had a lot of problems initially trying to get through to trading standards. I also, like many others, made a lot of calls to FXA and never managing to speak to Riswan. We have also faxed and sent them a legal letter.


I spoke to Chris Holden of trading standards yesterday who was very helpful saying that he had met with the infamous Riswan last week. He said that the accounts are frozen but could not say why but he was in discussion with Barclays. The accounts are supposed to be segregated (escrow) and there were monies in those accounts before they were frozen.
The company's accounts were in order at companies house and they are not in liqudiation as far as we know.

How and when will the monies be released is the key question though

Trading_Standards

FXA World PLC

As has been mentioned in previous postings we at Buckinghamshire Trading Standards are with the assistance of other parties trying to find out the whereabouts of customers’ monies. To achieve this we need all FXA World customers who have concerns about the transfer of monies through their FXA World account to contact us via e-mail with the following information:

Customer Name:
Address:
Telephone No:
FXA World Account No.
Date of Transfer IN of funds:
Amount: (£ $ euros etc.)
Date of Transfer OUT of funds (if any):
Name of Person to whom money transferred:

All information received will be handled with the utmost confidentiality. We may, however, need to pass this information on to the third parties assisting us. By sending us this information you are also authorising us to pass any or all information to these third parties.

When we have any information that will assist FXA customers we will either contact them directly or will post information both here and on our own website.

Buckinghamshire Trading Standards

e-mail: [EMAIL="tsd@buckscc.gov.uk"]tsd@buckscc.gov.uk[/EMAIL]


Should you need to contact us by telephone please call: 01296 382649

Trading_Standards

Buckinghamshire Trading Standards can confirm that Barclays Bank has now conducted a full audit on all payments notified to this service. Barclays’ advise that each payment was credited to the FXA World Euro account, which is used to collect all their customer accounts, and the funds have all been fully utilised by the company.

We are sorry to say that no refunds can currently be applied.

Thames Valley Police Economic Crime Unit is currently conducting an investigation.

Buckinghamshire Trading Standards now recommends that you should seek your own legal advice in this matter.

Alex75_2

Is there anybody going for teh small claim court now?
I don't think these guys will suddenly decide to return the money!
Thanks
A

kamen_2

could you please describe the procedure for that?

john52

After contacting the Police, I received the following email which others in the same boat may find useful. Good luck to you all.

Dear all,

For those of you that have not already spoke to me in person, I am Jacqui Bartlett and work for Thames Valley Police on the Economic Crime Unit. I am currently conducting an investigation into the above company to establish what criminal offences they have committed and once confirmed take appropriate action against them. If I have not already spoken to you it is because your details were passed to me by Buckinghamshire Trading Standards.

I will advise you on the progress of the Police investigation and will be contacting you in due course to obtain more details of your transactions.

In the meantime the below named (also affected by FXA) has requested that I forward his details to you all for the purpose stated below.

My contact details are:
Steve Dalton
35 Savernake Road
London NW3 2JU
Email: [EMAIL="steve.dalton@tradition.com"]steve.dalton@tradition.com[/EMAIL]


I intend to correspond with any FXA World members who believe that they have a genuine loss, and jointly to engage legal representation to get to the bottom of the action or inaction of all relevant parties that has resulted in our current situation.


I have outlined that the police will not conduct a criminal investigation alongside civil action, although a petition to wind up the company and if you have smaller claim, lodging a county court judgement against the directors and company will not impact on a criminal investigation. I have asked Mr Dalton to advise me on your course of action. So please contact Mr Dalton on the details shown should you wish to.

I have also been asked to obtain a contact name/ address for queries directed to Barclays, which I hope to obtain for you as soon as possible.

Regards
Jacqui Bartlett

DC 4134 Bartlett
ECU Thame Police Station
Tel: 01844 264925

nzseries1

cogito wrote: »

Everyone posting about FXA world is a first time poster who appears to have joined MSE for no other reason but to trash the company.

Is it just me?

I thought at first "don't be silly", but after looking into it, you may be right... there doesn't seem to be anything else like this anywhere else on the internet, and all the complainants are first-time posters.

john52 wrote: »

After contacting the Police, I received the following email which others in the same boat may find useful.

...

In the meantime the below named (also affected by FXA) has requested that I forward his details to you all for the purpose stated below.

Would the police really forward the address of another complainant to everyone for a bit of collaboration? It just doesn't seem likely to me.

john52 wrote: »

My contact details

In the first quote it was "the below named" (not particularly good English anyway) but in the second quote it is "My details". Not very consistent.

john52 wrote: »

ECU Thame Police Station

Signature is spelled wrong.

---

Conclusion: This is all very fishy. I'm not sure what to make of any of this.

john52

nzseries1 wrote: »

I

Conclusion: This is all very fishy. I'm not sure what to make of any of this.

I am sorry but nz's inane comments are something we can do without. The only thing fishy is that FXA have our money and we are trying to get it back. Why don't you call the Police/Trading Standards on the numbers already given which may remove your scepticism. If you're not involved with FXA then give us all some peace and post some comments elsewhere.
Sorry about ranting on, but this is a serious issue to many people.

nzseries1

john52 wrote: »

Sorry about ranting on, but this is a serious issue to many people.

Apologies, but given my skeptical nature I have to take what some new posters say with a grain of salt. In some of the other forums, when there's a new poster it's almost always spam. Of course though, everybody was a new poster at some point.

May I just say though, that whether all this is completely true, or completely false, it's certainly had the desired effect - I won't be using FXA World and finding out the hard way.