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 wasnít. 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 didnít 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 wonít 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. Itís 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.
Itís 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 doesnít 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.
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