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InvestTechFX reviews




Average: 2.6 based on 46 reviews
2.612905
InvestTechFX
InvestTechFX broker reviews

The broker is out of business

  • Website: www.investtechfx.com
  • Year since: 2004
  • Headquarters: Ontario, Canada
  • Company registration: Investtechfx Technologies Inc., Canada
  • Regulation: Not regulated.

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REVIEWS & RATINGS

Rating interpetation



Kuwait

September 4, 2013



3 years Total
a month Live account with this Broker


I really DO NOT recommend. They refuse to give me my money back. They claiming that the withdrawing takes 1 month!!. in time other companies process the withdrawing in 1-3 days. Even after a month, they do not replay emails. also, the 'Live Support' chat is not serious, they are good to insisting on you for opening live account. And when you need help and they know your name they either close the chat 'Offline' or do not take it seriously if you ask for help. If you want to believe that, Go and try them.

I also read on the internet that they are Scam.

Tags: InvestTechFX reviews

InvestTechFx

December 13, 2011

InvestTechFX vs Steven Griggs Lawyer Respond:
The writer represents InvestTechFX and its principals. We have researched and note your complaints against InvestTechFX. There is no doubt you are entitled to criticize my clients’ company if you do not consider their services exemplary, but you are not entitled to libel and slander the company and its principals. You have a part of the story and my clients have their part which they will publicize if you do not apologize for the contents of your blogged correspondences. Your insults about their professional integrity and their business ethics will not go unanswered.
You verbally and in writing confirmed that my clients should close all of your open positions. Notwithstanding this part, you continued to smear my client’s name with defamatory statements which are untrue and knowingly false. Your aggressive statements on your blogs on the website indicate you will not stop at anything until you embarrass my clients or libel their good name and/or reputation so that you can extract a settlement from them.
If all statements are not dropped by you on the websites and a letter of apology posted, then my clients will initiate a libel and slander action against you without any further notice to you. We expect an unequivocal apology and assurance from you that your actions will cease and that you regret the action you have taken to date.
My clients are always ready, willing and able to review your account with you in a businesslike manner with or without counsel.
We anticipate your immediate response.
J.S - Barrister and Solicitor

Tags: InvestTechFX reviews

Indonesia, Tjandra

October 28, 2011



Live 3 years Total
1 year and 1 month with this Broker


I will convey my bad experiences to fellow FPA community. I have been InvesttechFX VIP member for a year, and I had no trouble during trading with InvesttechFX. But after I decide not to extend my VIP account, I began asking information about the end of my VIP account validity, because I want to withdraw my funds. Since then, InvesttechFX seemed to refusing giving me a concrete and reasonable responses, which for me, is a very disappointing act from InvesttechFX. Because I know that when my VIP account validity had reached a year, I should be able to make withdrawal.

As it said in the clause section 15A that the account holder should not publish any communication between account holder and InvesttechFX which could cause irreparable harm and significant injury to investTechFX. Actually, what I want to publish in the forum is not the communication between InvesttechFX and me, but I want to share my experiences and complaints with other fellows account holder in the forum. But, if InvesttechFX afraid that I or the other customers will publish the communication between InvesttechFX and me, I think InvesttechFX shouldn’t act so unproffesional refusing to return customer’s funds. I think publishing fact and experience is the different with publishing written or verbal communication, two issues are distinct and unrelated.

The clause section 15A is valid since December 2010, but since I signed the disclaimers on July 2010, so I think it's not my fault that I do not know this clause. And so InvesttechFX did not give any further information about the rules. Do InvesttechFX usually change the rules without giving any notification to the customers? That is so irresponsible.

I wonder why can't I withdraw my funds, since the end of my VIP account period has been passed. Besides, earlier in the month of June I had sent Investtech an e-mail to warn not to extend my VIP account. InvesttechFX have responsibility and obligation to fulfill my demand to withdraw my funds. InvesttechFX definitely have no rights to control and hold in my money.

In August 2010, I have requested a withdrawal, but Investtech explained to me that as a VIP customer, I had to obey the VIP account commitments and rules, which one of them was not to withdraw any funds during a year. At that time, that was my fault that I didn't read the commitments and rules carefully, so then I obeyed the commitments and rules. But these time is not the same since my account is no longer a VIP account. Even if it is still an VIP account, I had throught the one year period, so I should be able to make a withdrawal.

Unfortunately, when I made a withdrawal request via e-mail to InvesttechFX, InvesttechFX refuse to withdraw my funds. InvesttechFX give me a very unreasonable reason. But since, I have obeyed the rule that I couldn’t make withdrawal until my VIP account had reached at least 1 year of validity period – which is of course not a short time – I think I have my rights to withdraw my funds. As a worldwide company, InvesttechFX should prioritize customer’s satiscfaction and should obey their own commitments and rules.

InvesttechFXacts like they don’t want to withdraw my funds. They keep giving me unreasonable reasons. In other words, InvesttechFX tries to keep funds which is not theirs. This is a very unproper thing to do, nor is illegal. So I think this is a very embarrassing issue for InvesttechFX. Until today, I do not violate any Investtech trading policies, and never got a statement from Investtech that I violated.

As long as I still make trading, InvesttechFX still receive commission. So I don’t made something that cause InvesttechFX any harm. But, InvesttechFX doesn’t give me my rights, and I feel aggrieved by that. It makes me think how funny it is that a big company as InvesttechFX to not treat their customers the way they have to be treated, even act to exploit their customers like a vampire.

On 2010-11-30 FPA forum, partly comment by InvesttechFX themselves: “At the end of the commitment period, our VIP customers will be eligible to withdraw all their funds including THE TRADING BONUS and ANNUAL COUPON BOND INTEREST provided to them by Investtechfx!This means that the total amount of trading bonus that Investtechfx has given their VIP customers will be theirs to keep!”. Very clear,there is no problem for those who want to withdraw funds after the end of VIP Account period. Please InvesttechFX give prove to the statement above. If InvesttechFX cannot prove, that means InvesttechFX has committed fraud against their customer like me.

I will further explain the detail of my bad experience with InvesttechFX in the next e-mail. I had reported to the OSC and the Department of Justice Canada for the action of fraud committed by InvesttechFX.

Tags: InvestTechFX reviews

InvestTechFx

October 13, 2011

Official Statement from Investtechfx:

InvestTechFx takes customer service to the utmost level. In the case this client, “STG” as he has posted, we’ve obliged diligently, from the very beginning. Our history with this client dates back to May 2009, when “STG” accepted all terms as per our disclaimer and filed as a Canadian account. On September of 2011, the client withdrew his account balance in full and we have provided him with account statements as mandated. Contrary to what he states, we have always left voicemails, replied and addressed all his e-mails and calls. The client has access to his account, with the ability to download statements, with details and balances in order to analyze all of his trading activity, as transparency is essential. We are waiting for the client to perform his review, nonetheless, we are helping him during this process in every possible manner we can.

InvestTechFx does not intervene in traders’ decisions, positions, techniques or methods, as we are an NDD, STP and software provider of the MT4 platform, and do not serve US based residents.

Tags: InvestTechFX reviews

USA

October 2, 2011



16 months Total
14 months with this Broker
1


(The following is an abbreviated complaint against Investtechfx.com. The full complaint is being filed with multiple authorities.)

COMPLAINTS AGAINST INVESTTECHFX.COM

I first bought Fapturbo on 01/19/09. Fapturbo is an automated trading robot that trades Forex pairs, according to proprietary settings. Also known as an “EA” (Expert Advisor), Fapturbo works by going in and out of trades automatically, which means one has to have a computer on all the time or hire a service to do this for you, such as VPS (Virtual Private Server). I kept a computer on 24/5, thus allowing Fapturbo to trade.
My first broker was a bit slow in executing trades and had larger margins than Fapturbo needed. One of the tech’s at Fapturbo suggested Investtechfx.com (ITFX) because they had smaller spreads and five-figure pips. This allowed Fapturbo to “scalp” more trades with less spreads, thus increasing the odds of profit/trade.
I contacted Investtech in May, 2009, and sent them a total of six deposits, totaling $24.400.
To Investtech’s credit, for some of the deposits, they credited my account 10% as a deposit bonus. I used these bonuses to trade, generating Investtech commissions on thousands of trades over 14 months. I downloaded the trading platform, MT4, which Investtech provided and then installed Fapturbo successfully. Thus began my trading experience in May 2009 with Investtech.

Complaint #1: Investechfx.com recruited me as a new USA trader when they were not registed with CFTC or NFA.

Investtech was very enthusiastic about me opening a trading account with them. They offered bonus incentives and fully supported the use of EA’s. In my case, Investtech claimed to have “…hundreds of clients all over the world who successfully use Fapturbo.” Investtech was also helpful in providing tech support, initially, but over the next fourteen months, provided less and less.
My account grew, all the way up to over $42,000 (equity), then shrank, all the way down to about $19,000 (equity), then grew again back up to $37,200+ (equity). This occurred over eight or more months. This $37,200+ was my “equity;” that is, after closing all trades, even those that were losing money, I would have as a remaining balance, $37,200+ in my account. If my existing trades resolved in my favor, my equity would have been considerably higher. This was my understanding of how the software presented my financial data from the beginning, which was confirmed numerous times by Investtech staff via telephone.

Complaint #2: Investtech would not send me any proceeds out of my account.

Around June 2011, I called Investtech and requested that they send me $5,000 from my account to cover family medical expenses. At the time my equity balance was about six times that amount. They did not return my call for about two weeks. I emailed the request, but got a telephone call back from a gentleman with a heavy accent, stating I could not withdraw money. (I have reviewed my notes and cannot find his name, but from memory, I believe his name is “Alan.”) He stated I had been put in “The VIP Club” and that I could not withdraw money for one year from when I had achieved a balance of $25,000 or more.

Complaint #3: Investtech sent me faulty upgrades that disabled the trading software for both manual and robot trades. Investtech was unable to resolve the technical issues created by these upgrades.

In May-June of 2011, Investtech began sending “upgrades” to the MT4 platform. The first one installed well and influenced nothing; that is, my charts and settings remained intact and Fapturbo continued to trade automatically. The second upgrade wiped out my charts and settings, although Fapturbo still worked after I re-installed all charts and settings. The third upgrade disabled MT4. I could not get it to “hold” my settings and Fapturbo became erratic, trading only a little, albeit successfully when it did trade.

Complaint #4: Investtech would not close trades over the telephone when asked, despite having done so many times historically.

Complaint #5: Investtech provided no technical support after hours, despite saying at the time of account opening that such exists 24/5.

Complaint #6: Investtech failed to close my account in a timely manner.

On September 8th, 2011, San Diego, California, as well as most of Arizona, parts of New Mexico and upper west Baja California, Mexico experienced a massive power outage that lasted about ten hours. This caused my computer and Fapturbo to stop. When I got home from work, I called Investtech to check my positions, fearing Fapturbo had opened positions, then became disabled and unable to close positions when needed. I called at 8:00 p.m. PST (11:00 p.m. Toronto time), and spoke to Kevin Chan, who checked my account, and said there was no new open positions created by Fapturbo. He confirmed my equity balance at that moment as $37, 233. I told him MT4 no longer worked and to close all my positions to protect that amount. Kevin informed me he had no authority to do so, and that there was no one on duty who could as it was ”after hours.” I was amazed that there was no one on duty for emergencies as the Forex market is open 24/5. (When I first opened my account with Investtech in May 2009, I was told there were technical staff on duty 24/5. This was part of Investtech’s sales pitch.) But since I was in no danger of losing, I did nothing, except discontinue all present and future trading. At this time, I had about seven-to-ten remaining open trades for a negative balance (AKA Floating P/L) of about 7K-8K. This, plus the 35+K equaled the overall balance of about 43K.

Complaint #7: Investtech shut down their website before addressing my issues.

I was dismayed at the poor tech support, especially because MT4 was no longer reliable, so on 09/15/2011, I contacted Investtech again, this time via email, requesting them to close all my positions and further, to close my account. I expected my balance to be no less than $35,000 due to normal market fluctuations over about a week (43K minus 8K in open negative trades equals 35K in equity). I received an email from Investtech on 09/15/2011, one-half hour later, stating my account had been reset. They sent me a temporary password (fx847). (At least they acknowledged the MT4 software no longer worked until “fixed.”) Following their instructions, I logged in, but was not able to get MT4 to work. It appeared to be dead. I reasoned that it was too corrupted, as software can become from time to time, in this case engendered by sequential upgrades from Investtechfx. I had not traded since the morning of September 8th, so I uninstalled MT4, and then went to Investtech’s website to download a fresh copy, thinking I could take up trading again with a workable copy and a new PW (password). Investtech’s website had a banner right in the middle of the opening page, stating they no longer worked with US customers. None of the buttons I normally use to download MT4 worked. I was locked out.

Complaint #8: Investtech took back trading incentives which were given to encourage deposits and trades.

Later in the day, on September 21rst, 2011, I received an email from Investtech stating they had closed all my open positions, and “adjusted the bonus in the amount of $1000 from your account which was provided to you for trading purpose only.” The last deposit I made to Investtech was over a year earlier, and they just “now” thought to take back the bonus, that also made them thousands of dollars in commissions? (I saw in one of the data summaries I’ve managed to put together on my own, using their data, that I have generated over 52K in commissions for Investtechfx.) There was never any mention in all my contacts with Investtech that these trading bonuses would be revoked, once given, and used to benefit both of us.

Complaint#9: Investtech kept $28,776.88.

Meanwhile, funds were transferred to my credit union, via wire. The transferred amount was $8,456.12. I immediately sent an email to Investtech and inquired if maybe they had sent money from the wrong account, also to send the rest. (On 09/08/2011, Kevin Chan indicated the account had #37,233 in equity. That minus $8456.12 equals $28,776.88.) Later that day, I sent another email re-iterating their mistake and asking them to check the bank routing numbers, and to send me records for tax, and now accounting purposes.
On September 24th, 2011, I sent another email to Investtech, again re-iterating the account closure, the incorrect transferred amount, and request for information on how to set up MT4 to get tax information. I also asked Investtech who was their regulatory agency.
On September 25th, 2011, I received an email from Investtech, stating “Your inquiries have been forwarded, one of our account managers will be in touch with you by tomorrow. Thank You!”

On September 27th, 2011, I received another email from Investtech stating “…we’ve been trying to communicate with you for nearly 4 days. we’ve (sic) called the following numbers (both of which were correct).” Again, there were no messages on either of my voice mail services. In this email, Investtech also stated, “We’ve had no reply to prior e-mails or phone messages. We are her (sic) to assit (sic) you regarding your concerns and issues with your account.” Investtech did provide a toll free “800” number to call to directly talk to an account manager. On 09/27/2011, I finally reached “Jacob,” who emphatically stated a full accounting would be provided, but that it would take 30 days to settle this matter.
The first and second weeks of October 2011 were uneventful, except that Jacob at Investtech did return many telephone calls, allegedly trying to cooperate with resolving my issue. He did send an email-attached PDF file of approximately 188 pages (according to him) and that I should “look it over.” The PDF file would not open. It corrupted my email program (Outlook). I am able to open all other PDF files but this one gave me an error message that the data were corrupted. I sent an email to Jacob at Investtech requesting a re-send of an uncorrupted PDF file. Jacob also sent me a link to download a demo version of Investtech’s MT4 software, to access my data in CSV format (for Excel analysis). I installed the demo software successfully, but my username (UN) and password (PW) did not work. I sent Jacob a request for my UN and PW. Jacob also requested I remove my complaint about Investtech on 100ForexBrokers.com, which I posted on 10/02/2011.
On October 15, 2011, I sent an email requesting that my complaint on 100ForexBrokers.com be removed as Investtech was communicating with me about resolving my issues with them, but that I would post it again with further information should I not receive a full refund from Investtech. I also noted that there were several other complaints on this website, most about Investtech not refunding their money.

Complaint#10: Data in MT4 cannot be tabulated or manipulated to analyze. The data appear to be incomplete.

On October 29th, 2011, I began looking at the Demo/Live data, intending to download it into a file for printing and/or use in Excel. In this version of the data, using the MT4 software, there was no option to do either (sort, print, etc.) Moreover, the data appeared to be incomplete; that is, lacked a listing of all the trades from the beginning of my trading with Investtech in May 2009. Further, my intent was to begin with a snapshot on September 8, 2011, and then to look at each closed trade from that date forward. I only had seven-to-ten open trades at that time (average is about eight on a daily basis), with an equity of $35K-to-$37K+ and a balance of $43K+ ($43K minus the Floating P/L of approximately $8K). It should have been an easy matter to follow any trades from September 8th when I stopped trading, and any dates thereafter, specifically from September 15th (second request to close my account), or even through September 21rst, that being the date Investtech acknowledged closing my positions. But all this was not possible with the data in the Demo/Live version of MT4. The software did not allow any manipulation of the data, so I could not complete my analysis using their software.
Jacob re-sent the data via another PDF file October 16th, but due to family illness, I was not able to look at it until October 29th. He has several times in telephone conversations the last two weeks emphasized that we only have a limited amount of time to make a claim about problem trades with the “insurance company.” While a real insurance company may or may not exist, my concern is with what Investtech has done to lower my equity balance by 28K+.

Complaint#11: Investtech added, and then closed over fifteen additional trades that I did not make, thus attempting to make the data support withholding money at account closing.

Next, I looked at the Demo/Live data for 2011. Recall that I stopped trading with the MT4 software after placing two manual trades on September 8th, 2011. I asked Investtech to close all open trades as of that date. I had about eight open trades and $35-to-$37+K in equity, even after all open trades were to be closed. Investtech closed all open trades in my account on September 21rst and should have had to close only about eight ( between seven and ten--min and max range of trades open at the end of each trading day, on average). When I looked over the Demo/Live data, I found that Investtech had closed twenty-six trades. Investtech closed at least fifteen and probably up to more like eighteen trades trades that did not exist on my end; trades that apparently were artificially created and then closed by Investtech. All twenty-six trades closed at a loss-- a total loss of< $32,595.83>. (That’s all I could find, sorting all the trades by hand.) I estimated the loss of my legitimate eight trades to be about $7K-$8K, so the difference of what I thought were my open (losing) trades and what Investtech closed is about $27K—pretty close to the amount my account is short.
Further analysis revealed some interesting findings. The twenty-six bogus trades dated from 04/12/2011 through 09/12/2011. Seven of the trades, dating from 09/09/2011 through 09/12/2011 occurred when my software was disabled, and the computer was off. In other words, there could not have been any trades during this time.

Complaint#12: Investtechfx failed to provide critical information, specifically the contact information of the insurance company they allegedly employ to check on trades.

November 12, 2011. Sent Investtech/Jacob an email stating I have heard nothing back from them, despite having sent the email about the 26 transactions two weeks ago. In this email, I have also requested the name and contact information of the insurance company Jacob referenced; the one that allegedly will investigate erroneous trades. I wish to further investigate this company and its relationship with Investtech.
November 18, 2011. Received two emails from Jacob at Investtechfx, one stating that the twenty-six trades were investigated and confirmed that they were made from my computer. The other email requested I remove negative reviews on an Internet site.
November 19, 2011. I sent the following email in response, thus closing out my communication with Investtechfx, until the above is filed with the appropriate legal, criminal, governmental and other agencies concerned.

“Jacob, I see no reason to continue communication. This data log you sent contains many trades that were made when my computer was off, as documented elsewhere. One trade in the first group of trades was made on a Saturday (08/06/2011. No trades can be made in a closed market.). You do seem to have considerable temerity.
The IP address in your data log that is associated with the trades, according to my ISP, is not mine. (Your associated IP address for my account number is 70….. In real life, my IP's begin with either 68. 6... or 192.... depending upon whether the router or the ISP assigns them.).???
My biggest complaint against Investtechfx.com is that you failed to close my account on Sept. 8th, 2011 when I called and talked to Kevin Chan, when he stated my equity (actual cash available in my account) was $35K+. I am also quite dismayed that you think that closing Floating P/L trades alters the equity. Equity is the number that reflects the actual balance (cash), taking into account all open trades, profitable or not. Closing open trades lowers the Balance, which becomes the same as the equity when all open trades are closed. This has been the case with MT4 since day one of my trading. Only once in my 14 months trading with Investtech did my Equity dip to $19K+, and that bounced back to $25K within a month, as the equity does not fluctuate that much when trades are closed daily (with the robot) or are minimal in number (as when I manually traded).
You have consistently manipulated, maneuvered and avoided sending requested money, using bogus reasons ("VIP member"), and now apparent fraud. I have never in my life experienced such knavery. You will be hearing from "other" parties about our experiences.

No need to comment. I think we are finished with this part of our interaction.”

Last Update: 11/19/2011
Steve Griggs

Tags: InvestTechFX reviews

Marco Araujo

September 18, 2011



4 Total
7month with this Broker



I like service and answer question all tine cun investechfx.com trade busines gbp/cad y eur/chf eu fantastic the ea, no problem, very quick. I a make moeny and I trade busines for next 6 moths tine very content. Marco.

Tags: InvestTechFX reviews

China, Fan Chen

September 15, 2011



5 yrs Total
1.5 yrs with this Broker
5


0.5 PIP spread is probably the best in industry. I’ve had withdrawd my profits many times havent had any issues. The staff over there at InvestTechFX are friendly and I am planning on depositing more money because they offered me more trade bonuses if I do.

Tags: InvestTechFX reviews

SYRIA, Jordan

September 14, 2011



5 Total
1 with this Broker
1


Totally gisgusting broker. Actually they said they are not a broker. Not regulated by anyone. Stay away!! You can't withdraw your money whenever you want. You can't withdraw your profits when you made a lot of profits. If you lost than its ok with this broker. If you make profits don't join this broker. You just don;t have the freedom to withdraw your money any time you want as you must lock in your profits with them for a year. All your money is lock in for a term. WHY THEY ARE NOT A BROKER? ITS BECAUSE THEY ARE A SCAMER!!!! They are being taken to court!!!! There are thousands of honest broker out there why joining this unhonest and bucket shop

Tags: InvestTechFX reviews

U.S., Damon Liebscher

September 8, 2011



5 Years Total
1 Year with this Broker
5


I am from the U.S., and recently had to close my account with ITFX because of new U.S. laws. I was sorry that I had to do so. My completely balance was returned in what I would say is a timely manor. Good luck to both if us ITFX!

Tags: InvestTechFX reviews

UK - C.Heinz

August 21, 2011



4 years many company trade CFD and sotck before Total
2 Years - 4 months demo later for 11 months live with this Broker



Support is very nice. There staff speaks many languages, I speak German and found the help I need.
I get trading bonus and 1:300 leverage. I trade and withdraw my profits every 3 months, for me ok because I put in retirement account. had problems with some late market orders, but know working fast.

Tags: InvestTechFX reviews

AUSTRALIA, RICHARD

August 18, 2011



5 Total
1 with this Broker
5


MODERATOR, PLEASE REMOVE MY LAST TWO REVIEW, I GOT PART OF MY MONEY BACK FROM INVESTTECT

Tags: InvestTechFX reviews

AUSTRALIA, Richard

August 10, 2011



5 years Total
1 year with this Broker


SOMEONE TAKE INVESTTECHFX TO COURT FOR BEING A SCAM: http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/le...

Tags: InvestTechFX reviews

AUSTRALIA, Richard

August 10, 2011



5 years Total
1 year with this Broker
1


PLEASE BE AWARE OF THIS COMPANY. THEY SAID THAT THEY ARE NOT A BROKER BUT THEY ALLOW YOU TO TRADE WITH THEIR MT4 PLATFORM. THEY ARE NOT REGULATED BY ANYONE. STAY AWAY FROM THIS COMPANY. YOU WILL NOT BE ABLE TO WITHDRAW YOUR MONEY. I HAVE BEEN WAITING TO WITHDRAW MY MONEY FOR THE LAST 7 MONTHS. MY INITIAL DEPOSIT & MY PROFITS ARE DOWN THE DRAIN. THEY JUST TOOK YOUR MONEY. THEY ARE THE BIGGEST SCAMMER

Tags: InvestTechFX reviews

UK

August 3, 2011



5 Total
3 months LIVE with this Broker
4


so far ive been trading for about 3 months, the thing that initially attracted me was the 0.5 spread on the majors. they also gave me a bonus on the money I deposited which i didnt know about, also their customer support is 24/7 to support the market time. Overall, pretty good experience so far.

Tags: InvestTechFX reviews

uk,xyz

July 25, 2011



5+yrs Total
2-3 yrs with this Broker
1


stay away. no customer service, or they do it as part of a scam?. beware you may never get your money back

Tags: InvestTechFX reviews
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