Question!

[effexz]

Hello!!

I'm new to trading but i have done also some self study. So now i want to open an account with one of many brokers. It's called United World Capital. Has anyone ever heard of them or had experience with them? All information about them is very well appreciated.

Thanx!!!

[greencat]

Originally Posted by effexz

Hello!!

I'm new to trading but i have done also some self study. So now i want to open an account with one of many brokers. It's called United World Capital. Has anyone ever heard of them or had experience with them? All information about them is very well appreciated.

Thanx!!!

They have some compliants on them. Stick with the more reputable brokes to be safe. My advice- stay away from them...

From http://www.forexpeacearmy.com/public.../www.uwcfx.com




2009-12-08 1 Star I´ve been scammed by this broker.I explain - i have opened account last month, from 250 usd i have made more then 5.000 usd. Last Monday , 30 November the show begins - as i was experiencing more then 1 minute to confirm my orders, i contact them regarding this issue, they begin told me that was a problem with the servers, then there wasn´t any problem neither on servers, neither in my account, then i received an email that " The time of order execution can be increased because the time of reaction of counteragents increases, sometime we provide liquidity by ourself due to our risk capital, but in case we decide that the order is risky for our company we hedge that order to one of our counteragents therefore it takes more time." well it´s strange that in 1 month no problem and then from one day to another everything is possible.

To resume, at 2/12/2009 i ask to withdrawal all my money and close my account, due to this problems and impossible to trade. I receive the log of the day telling that withdrawal was made, contact them next day and told me that money was out already,and for wait 3 to 5 days to receive in my bank account. For my completely surprise today i receive an email telling me that " Our managers have carefully checked the information concerning a withdrawal operation xxxx from your trading account xxxxxx xxxxxx EUR. We are sorry to inform that we will not be able to process it, and the funds have been returned to your trading account, because of the following reason:
By chapter 5.12 of the client agreement

The trading strategies based on use of any mistakes in
prices and/or entering into transactions at nonmarket
or out of date prices (generally known by the
name of "sniping") are not acceptable for the
Company.

well this is a outrageous excuse to accept that i have made huge profits there and they DON´T LIKE WINNERS - after 1 month they are telling me that i am doing this, my EA are a pure based momentum scalping system, which uses some arbitrage calculations.

Please BE AWARE OF THIS, i have proofs of this and i decide to post here so others traders can be alert.

I have all documentation regarding this and i´m asking FPA to help me to recover my hard gain money, since they are regulated i think FPA can guide me to resolve this issue.