This is a new fine by the MFSA: 28/01/2014 FXDD Malta Limited On the 28th January 2014, the Malta Financial Services Authority (‘the Authority’) fined FXDD Malta Ltd €25,000 under the provisions of Article 16A of the Investment Services Act. FXDD Malta Ltd was found to be in breach of SLC 2.01 of Part B1 of the Investment Services Rules for Investment Services Providers. This notice is being published in accordance with the provisions of the Malta Financial Services Authority Act.

A very close friend of mine recommended I invest on futures with the FXDD agent in Peru, Mr. Sergio J. Reategui. She had been advised by Mr. Jorge Medina Mendez, Ernst & Young general manager in Peru, to invest on futures with that agent. Because I trust my friend and know about Mr. Medina´s prestige as a financial auditor, I decided to follow the advice. Because of my work schedule I was not able to meet the FXDD agent, so all the process was to take place through emails and phone calls. On June 22nd, 2012, the FXDD agent emailed me two documents for me to print, sign, and send back to him via email. They were: The Compensation Acknowledgement and the Open Position Acknowledgement Agreement. I did it on June 22nd, 2012. He said they were the only ones needed to open my account. On June 25th, 2012, FXDD sent an email saying they had prepared documents to be signed in a safe environment, but the agent sent an e-mail letting me know he had already sent the documents required to open the account. Consequently, I assumed the FXDD mail referred to those same documents I had actually hand-signed. However, on June 22nd. he had already forged my electronic signature at Sertifi and wet-signed the Customer Agreement, Additional Risk Disclosure, and the Power of Attorney, documents I didn´t even know existed, at my back. My account, then, was illegally open as part of the PAMM 1300033 account with an initial investment of US$7000. I was classified as a retail client and was assured to have special protection. However, when the agent got the last client for the PAMM account, all the money was depleted. The forgery of my signature and the forgery of crucial documents used to open my account and deplete all my investment was perpetrated at Sertifi, a company based in Chicago. As soon as I discovered the forgery, I contacted FXDD and requested they give my money back. They insist my documentation “has been e-signed as per company’s policy based upon accepted international standards...” I contacted Sertifi and requested they withdraw the electronic signature bearing my name from their data base and send me evidence of this. They haven´t done it so far, so the risk of someone using that signature for illegal purposes again still exists. Sertifi is, at least, responsible of serious negligence in this issue, but I believe they have been co-actors in the scam. The Audit Trail they sent me clearly registers that the forgery was done THREE DAYS BEFORE they even invited me to sign documents in a safe environment. Those documents must have been signed from the FXDD agent´s email address, since his IP number: 201.230.153.52 is the one registered as mine. However, Sertifi has deliberately registered my email address next to the forged documents. Mr. John Stojka, cofounder of Sertifi, has refused to cooperate by hiding information I requested and refusing to withdraw the forged signature. Documents/more info available at request. What I find extremely strange, to say the least, is that both Sertifi and FXDD considered those documents as valid to open my account when this contradiction exists and is evident in their own report. Another aspect I find very suspicious is their having written my own email next to the forged documents as if it were the one from which those documents were signed. All this makes me think these may easily be illegal acts performed not just by the FXDD agent in Peru, Mr. Sergio Reategui, but may be usual illegal activities to commit fraud and even launder money accepted and practiced both by FXDD and Sertifi, otherwise, they would have already sent me the information I need to fully identify the person who forged my signature and used it to validate those two documents. I have written to Ms. Marina Pinto, the FXDD agent in New York who is in charge of our account there to request that they return my money, but she has lead me to another department in Malta where no operations whatsoever were performed, I assume she did this to avoid further issues. I have not gotten a relevant answer from them so far.

Do NOT use this broker. They have lousy spreads and have inactivity fee. No point wasting your money on this. Do let others know how lousy this is and not to ever use this broker regardless!

Just this morning, I entered in a new USDCHF immediate execution trade, the currency pair was fluctuating by 2 pips and I was immediately under by 10 pips ! ...

Such ignorance and scamming behavior which FXDD broker uses should be punished. Institutions that gave them permission to work they should controlled and punished. I received an email that the account will be closed and all profits wiped. I know that my trading was legally and I immediately sent withdrawal request form. After this event several times over last 2 week I have attempted to withdraw my money, always they replied that withdrawal will be processed shortly. I sent in 5 withdrawal requests and multiple emails. None have been answered. I complained also to regulator and I wait for response. FXDD = SCAM