Luxeeforex experience

By Roland Gaede, from Germany, September 14, 2020 at 03:46 PM

I have invested capital in two different projects on the Luxeeforex platform ( with a fixed payout guarantee and commercial conditions (no trading / contract with foreign exchange (FX), contracts for difference (CFDs) and precious metals). I did not act myself / no trading through myself. I also had no way of influencing or even stopping the account balance. All of this was the responsibility of Luxeeforex. So I don’t have any additional payment obligations to balance my account. The payout and profit expectations were promised to me by certificates (issued by Luxeeforex Laws & Finance Department). Now, on September 10, 2020, I was informed by Luxeeforex that my capital had been lost due to alleged mistakes in trading. I have now been pressured several times to pay additional capital (called “protection capital”) to Luxeeforex. The reason given by Luxeeforex, “This is necessary, I quote:” To bring the lost capital back into profitability “(approximate wording). For me, this means that I have to invest more capital to get back my lost capital. The repeated question about a payout guarantee was ignored several times. Only promises were made over the phone. In my case, I should pay another € 12,000 in order to allegedly get back about € 70,000 a short time later, consisting of capital and profit. This was confirmed to me on the phone by the account manager and the account manager of Luxeeforex. Luxeeforex categorically refused a written and legally effective declaration that I requested, in addition to the promises made by telephone about the promised payout. I should pay a further € 12,000 as so-called “protective capital”. In several calls, I was asked to do so, or better said, “compelled to do so.” I have now refused this so-called protective capital payment in order to limit the risk of the expected loss of this 12,000 € (personal risk assessment). As a consequence of this refusal, Luxeeforex informed me by phone from my account manager on 09/10/2020 and 09/11/2020 that my investments are now lost, it was my risk / my decision, so the reasoning of Luxeeforex. It is my own fault if I do not get my invested money back. It should be mentioned that I have also received written confirmations with signature from the responsible persons at Luxeeforex including a payment plan for the two investments. My entire capital / investment of € 38,000 has now been withheld by Luxeeforex. So I was definitely cheated out of this amount. I think i’m beaten up by scammers, what can i do? Have victims had similar experiences?

Answer: Hi Roland Gaede,

Luxeeforex is an offshore Forex broker. This website owned and operated by TradeED Group Ltd incorporated in the St. Vincent and the Grenadines. St Vincent & Grenadines doesn’t have the regulation of Forex activity under its jurisdiction. You can read our detailed article on why brokers from St Vincent & Grenadines should be avoided. We advise our readers to avoid unregulated offshore entities as they cannot provide the needed funds safety.

Unfortunately, there is a small chance of getting your money back, as Luxeeforex doesn’t seem to be a regulated entity. We recommend you to report this issue to your local financial regulator, The Federal Financial Supervisory Authority – BaFin).

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