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Thread: The Collective FX Recovery Effort

  1. #1
    NeszesrotjuConwz
    Guest
    Greetings.

    I'm a member of a group of traders / investors with substantial funds deposited with The CollectiveFX, aka The Collective FX Global, aka BDG Financial Services LTD, aka CFX.

    At June 1, 2014, we were informed of the closing of the brokerage. The reasons given by the operators of CFX were pending investigations by government regarding a so called'white label' trader working capriciously through the brokerage.

    The operators of all CFX directed us to request a drawback of their funds through their website, following specific processes. We were confident of the return of our funds within 90 days. We asked such a withdrawal.

    Up to now, no one that we're aware of has obtained any refund of monies on account and all operators of CFX we are aware of have vanished and have provided no communiions to us at all. Their site no longer exists.

    Moreover, we're unable to get CFX adminiive records in order to record our account balances / transaction records for taxation and other purposes.

    It is our belief that the operators of The CollectiveFX are displaying bad religion and have no intention of refunding our monies.

    Our goal, simply put, is the complete return of our capital.

    We're requesting any and all members of the CollectiveFX who have funds at risk, to speak to us as we're currently contemplating'civil' court activities and other legal options.

    In the event that you had funds together with The CollectiveFX, we urge you to contact us and join our team, whether you have been compensated or not. Please contact me
    If you're someone with the skills and tools to aid in this endeavor, please write to me personally as well.

  2. #2
    ToToTorwz987
    Guest
    Seems a lot like the PFG theft. Fantastic luck. So much most FX clients have gotten nothing back and futures traders have managed to receive 37% back. The courts are still grinding off time and money, so who knows where it will end up.

    Sounds like these folks might need to be hunted down like the dirtbags they are. When they're captured I hope they have treated as they deserve. I will leave that to the creativity of everyone.

  3. #3
    NeszesrotjuConwz
    Guest
    I'm not certain what the rule is all about posting the titles of the individual principals which were involved. If it's allowed I will be happy to outside the titles of these scumbags.

  4. #4
    Regulated in Belize. They will eliminate it.

  5. #5
    To quote you from 2009:

    Quote Originally Posted by ;
    quote Collective does not require 10k plus they do transaction microlots. I have been very satisfied with them so far. They've an unusual setup that they claim makes them exempt from the new regulations.
    Well, perhaps now you understand why they did not wish to be regulated

    You traded with a broker which you knew it seek to avoid regulation, and who tried to illegally offer Forex in US, which means you should not be surprised that in addition they illegally took your funds. If they weren't scared of going against the US authorities, why would they fear you?

    You have no one to blame but your greed and lack of due-diligence.

  6. #6
    Quote Originally Posted by ;
    To quote from 2009: quote Well, perhaps now you understand why they did not want to get controlled You exchanged using a broker that you knew that it seek to avoid regulation, and who attempted to illegally offer Forex in US, which means you should not be surprised that they also lawfully took your funds. If they weren't afraid of going against the US authorities, why would they fear you? You have no one to blame but your greed and lack of due-diligence.

  7. #7
    desbivu2
    Guest
    The unfortunate truth is that all of the money has gone will not help in any respect.

    That's the reason you ought to only deal with a broker who has authentied client accounts or fully authorised with rigorous compliance.

    It is a sad state of affairs and word is getting around that Collective FX are down - telephone lines off, emails bouncing back. The site coming down months ago, should of raised some flags!

    Best of luck to all!

  8. #8
    haisorcC
    Guest
    Hello,

    Sorry to hear about the problems people are facing for this particular firm, would you be interested in sharing your information for me as I am exploring the matter, I'm a reporter.

    You can send me a private message.

    Regards

  9. #9
    NeszesrotjuConwz
    Guest
    Quote Originally Posted by ;
    The unfortunate fact is that all of the cash has gone will not help in any way. That's the reason you need to only handle a broker who has authentied client accounts or completely authorised with rigorous compliance. It is a sad state of affairs and word is getting around that Collective FX are completely down - phone lines off, emails bouncing back. The site coming months ago, should of raised some flags! Best of luck to all!
    They closed off the site and communiions after they stole the funds.

  10. #10
    NeszesrotjuConwz
    Guest
    Quote Originally Posted by ;
    Hi, Sorry to hear about the issues people are facing with this particular business, would you be interested in sharing your advice for me as I am investigating the matter, I am a reporter. You may send me a private message. Regards
    Will do so tonight when I get home

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