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IQFX Investments Elena Started an account for $500. Made a gain overnight of $1300. Received a promo to multiply my gains if I sent another $850. Did that and profit showed $19k gain. Then account suspended subject to be frozen unless upgrade to a silver account from the mini one I opened. Was never told about that part. Tried to go do a withdrawal from account then decided it was fraudulent. Cambridge Massachusetts
okay so I never spoke directly with Elena. Her number was the number I provided on here. This number was also listed in another complaint I saw on the ripoff report site so I’m adding mine. I started the account with $500 on Monday into a mini account ( no info on why that account). Made a gain of $1300 overnight and received an email with that info then was told there was a promo to multiply my profits up to 15k but I had to add $850 to get in on it. So of course I did. Then received and email that evening that I had made a $3k gain overnight.
I go to log into my IQFX account to see my account balance is now $21k. Thought too good to be true. Nothing was emailed to me Wednesday night overnight. Then I received an email Friday morning stating my account was suspended because my profits exceed the he limits of a mini account and I have to add $2680 worth of funds to upgrade to a silver account so I could withdraw my money otherwise it would be frozen by the US and UK mining monitoring pool act. Have no idea what that was. At this moment I said this is a scam, get out now! But I decided to confirm this was a scam with Elena.
Immediately she was defensive and told me to trust the process. Very aggressive now saying that I need to do the upgrade so we could both benefit. I screen shot everything we did online from the purchase of my Bitcoin to verifying with my bank to release funds because I was the person doing the transactions.
I hope that this comes in handy for someone to help their case even if I never see my money back. I archived our what’s app conversation where Elena navigated my signing up on a Guarda App to purchase Bitcoin, the Coinbase app to purchase Bitcoin and getting me verified with Cash App as well. I was deceived by this and I hope it helps anyone else who gets involved with this company.
Elenas’ main presence was on social media via Instagram. The number provided was used for text and what’s app only. When I questioned support online on the account website with IQFXinvestments they we’re just as aggressive to state I lose everything including my principal if I don’t upgrade. I played along and pleaded that I don’t have the money to upgrade then they abruptly stated call us when you do. This was via the support robot for questions on the website. Never gave me a timeframe for when the account would be frozen. Never told me the Mini account could only hold $5500 in profits. Elena supplied all the web addresses and items to place in the respective blanks while signing up for my account and transferring the Bitcoin I purchased.
So all of this were red flags that I ignored in hopes I could trade through someone that knew what they were doing. I was doing this to get up the money to start trading myself once I got better at it. It can happen to anyone if they are approached by the right scammer at the right time. I was attempting to build money so I could use that to trade myself instead of using my income. I’m out of $1300 and advising my bank to issue me another card. Hope this helps someone before they get caught up in the same thing. If by some slim chance this turns out to be a misunderstanding I would be happy to retract my report.
3 Updates & Rebuttals
Jonathan
Boston,Massachusetts,
United States
Feedback on IQFX Trade Website
#4Consumer Comment
Sun, February 06, 2022
Hi there - Thanks for your help in advance. I had someone reach out to me via Instagram (IG) a few weeks ago about a similar opportunity to potentially grow my money in a short period. Here is her IG link.
I felt comfortable with her after having a few initial conversations on IG and then moving to the discussion on Whatsapp.
After growing my investment over the past few weeks and asking to withdraw my funds, Mary and the company told me I had to pay for this 'swift code' upfront (i.e., in advance) before I can withdraw my funds. They explained the swift code is similar to a processing fee to deposit the funds. I went to my bank and other institutions to see if this was a normal business practice after explaining what IQFX trade wanted. They told me no, and that why can't the company deduct the amount owed from the profits I made. They told me multiple times on email and Whatsapp that it is their standard business practice.
I pushed even harder and asked for client examples from the trader because the bank and myself did not agree with this. Within the hour, Mary provided examples from her clients that completed a similar process. Note that the company did not ask me to change my membership.
As a result of all of this, I am trying to find out if this is still legit or a scam. I would appreciate anyone's help and feedback as I am talking to my lawyer this week to seek retribution for the fraud transaction that may occur. If it is legit, then there should not be an issue to deduct the PMT difference in my withdrawal, right? Happy to listen to anyone else experiences through this process or website.
Here is the link to the company's website.
Karl
Highlands Ranch,Colorado,
United States
The American people were scammed by...
#4Consumer Comment
Tue, January 18, 2022
the corrupt and greedy people who ultimately control the U.S. Government, Wall Street, and the Mainstream Media back in September of 2008 when the stock market crashed and the Global Banking System melted down.
Anyone can type in 529757 at this site and read the two page hand-written letter that was mailed to the Mainstream Media in New York on September 12, 2007. (One full year BEFORE the Collapse.) The addresses to where the letter were mailed appears in Consumer Comment #1 at Ripoff Report #271771. Just type in 271771 to see who they are.
Also type in 271454 and read what is posted in Consumer Comment #1 at Ripoff Report #271454. That was posted one full year BEFORE the stock market crash and Global Banking Meltdown.
There’s LOTS more, but that should suffice for now.
Thank you.
John
Alabama,United States
i was also scammed by this website
#4Consumer Suggestion
Thu, December 16, 2021
The same scam company. I lost all my money and they restricted me from my account with huge funds in it. asknetrecovery.com helped me to recover all the money I had lost to this scam