Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
I recently did a wire transfer from my account at GFT-UK (now the same as FOREX.COM since they have merged), despite the high fees I paid for the wire transfer thinking it was a safe way to get my money, it turned out it wasn’t. When the money got to my bank, I notice there was money missing. I contacted GFT-UK (FOREX.COM) and I was told that they send all the money and that I should contact the bank. I went back and forth between my bank and GFT-UK (FOREX.COM) and the broker told me that there is nothing they can do and to deal with the bank. I talk to the manager at my bank and he was kind enough to explain to me that the sending part has the obligation to do a trace on the wire, and that is the standard procedure in such a case. And was even kind enough to sending me an Email where he acknowledges they did not get all the money and to ask the broker to do a trace on the wire. I contacted again the broker and the tech support guy didn’t want me to send the Email so he went as far as to give me a fake Email address that bounced back. I forwarded the Email to support at GFT-UK and also to support at FOREX.COM since they are the same company now since they have merged I got a replied saying they won’t do anything and to deal with the bank. After contacting chat support and giving them a hard time I was told they will do the trace and that it will take a couple of days. It’s been a month now and I contacted them again and was told no trace will be done and that is not their fault the money is missing. It’s been more than a month now, and I have realizes I will never see the rest of my money. So be aware of GFT-UK and FOREX.COM and realize that just because a bank is regulated it doesn’t mean you money is safe. I can post proof of Emails and pics of the chat if someone is incline to ask for them. Cheers and be careful. CarlosS