SimpleFX STOLE over 3btc from me. Accused me of violating rules when I did not.

[dpcanesm]

Several months ago my girlfriend had found simplefx and told me about it because she heard bitfinex would soon stop allowing Americans to trade there. So she referred me to simplefx at that time. Everything was going great and I was making some profitable trades there. We would regularly tell people about how easy it is for beginners to get started at simplefx, and we would frequently celebrate together when I would have profitable trading sessions.

Then on October 31st I received this message from Simplefx;

https://i.imgur.com/BQJD7f1.png

They have accused me of violating their affiliate rules by operating on two different profiles, and that all of the affiliate earnings have been reversed. I told my girlfriend what happened and she had a pending $400 withdrawal that they had canceled and confiscated. She was upset because she knew we had no violated any rules, and I was upset about it as well but was just going to accept that they took the $400 from her and move on... but then i logged into my own account and saw that they had stolen over 3BTC from my own account as well!!

This is absolutely insane because the BTC they took from me far exceeds any amount of commission my girlfriend had earned on her account from my trades, and we did not violate ANY affiliate rules. I don't see how they could take my hard earned profits from trading like this. It has nothing to do with the commission my girlfriend earned on her account. Simplefx thinks her and I are the same person, which i understand probable happens in some cases where people try to abuse the system, but that is NOT what happened here. We were GOOD customers who told so many people about simplefx and my success there. No matter what I tell simplefx, they won't believe me, and they won't let me speak to anyone about it to get the situation resolved.

As of right now they're holding nearly 50k worth of BTC that they stole from my account and it is seriously affecting my life. They took nearly everything from me. I've been emailing them for over a month now trying to speak with someone about this to get the situation resolved and get my BTC back, but they refuse to let me speak with anyone. They keep telling me the same canned answer accusing me of violating their rules when i've told them multiple times that they are making a HUGE mistake and really screwing with my life here. I feel that at this point they will just say anything and use any excuse they can to steal people's money.

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[allyouracid]

Did you bother reading their affiliate tos? Is it possible that they disallow "referring" people from the same IP address? I think I had a conversation with a support agent there and he told me that referrals from the same IP are not allowed.

[dpcanesm]

Did you bother reading their affiliate tos? Is it possible that they disallow "referring" people from the same IP address? I think I had a conversation with a support agent there and he told me that referrals from the same IP are not allowed.

Yes i did read through it and i was not referred from the same IP address. I'm always very careful about things like that since i know my money is at risk. I would never violate terms and put so much money at risk like that just for a small commission. Also they took many times more money from my account than my girlfriend had ever earned in commissions, so it makes no sense for them to do this to me. They also refuse to discuss this situation with me at all so it can all be cleared up. They just keep sending me canned responses because they want to keep my money.

[warningsigns]

I have written to their support system just now, letting them know about this matter and advising them to comment here in their defense or risk being branded as a fraud.

Don't let them take control of your life in such a pernicious and damaging manner. If they are thieves, they should be properly and appropriately outed as such and should be publicly branded as fraudsters. Scammers and thieves are some of the most despicable form of humans on this planet. Don't let them take advantage of assets by giving them hope that you might simply give up and let the matter rest in their favor.

Exchanges confiscating rightful assets of their customers and locking accounts is becoming a very damaging cycle and pattern this year. They seem to think they are untouchable or even immune to litigation and prosecution, possibly by justifying these thefts as necessary AML and KYC procedures.

SimpleFX, right this wrong!

[P2Pfinder]

I never had any issue on tranding with them (i had over 130 bitcoin on account in certain periods). But in last weeks i read a lot of warning about them, so i decided to remove SimpleFX from reccomended broker for my trading services .

[dpcanesm]

I never had any issue on tranding with them (i had over 130 bitcoin on account in certain periods). But in last weeks i read a lot of warning about them, so i decided to remove SimpleFX from reccomended broker for my trading services .

Im glad you left SimpleFX. I would never want to risk that amount of BTC  with SimpleFX when they have proven that they will just make up excuses to steal people's funds at any time.

[dpcanesm]

I am continuing to email SimpleFX and ask them to speak with me, and they still keep replying with the same canned email accusing me of breaking a rule even though I've told them many times already that they are 100% wrong in my case. They are abusing their power over customer funds here and it's very obvious. They know nobody can bring legal action against them on whatever damn island they are running their bucket shop out of.

[warningsigns]

If it's of any comfort, threads like this help educate others of the risks in trading on their platform. This is the power of information. 3 BTC will not last them forever. The more people are made aware of their dishonesty, the less victims they will have to steal from. I suggest you keep this thread alive and bumped with updates. Others should be forewarned of their nefarious operation.

If they unwilling to negotiate, then this sends a signal that they would rather lose you as a customer than pay out $60k worth of coins. Granted 3 BTC is a calculably stronger motivator for them, especially if they are struggling to attract more revenue or they have high overhead costs, it will be hard for them to stay afloat while maintaining a cycle of stealing from their customers.

On the other hand, if they come to their senses and decide to resolve this issue in your favor, don't forget to update this thread. It's always good to read about happy endings.

[dpcanesm]

SimpleFX is just completely ignoring my emails now. I'm pretty sure they actually plan on keeping the BTC they stole from me without even attempting to discuss the problem with me.

[P2Pfinder]

Any update about simplefx? Someone had other issues with them?

[SimpleFX]

@dpcanesm please send us ticket id which you received from SimpleFX Support Team, we will check it out and do our best to assist you.

[nabdaredevil]

I also came across similar issues posted by OP on another thread. Interested in knowing the outcome of this.

[HCP]

SimpleFX is just completely ignoring my emails now. I'm pretty sure they actually plan on keeping the BTC they stole from me without even attempting to discuss the problem with me.

Message dated: 2017-12-27, 03:40:42

@dpcanesm please send us ticket id which you received from SimpleFX Support Team, we will check it out and do our best to assist you.

Message dated: 2018-04-24, 18:07:08

That's almost FOUR months for SimpleFX to respond to this accusation!!?! FOUR MONTHS!

"Customer Service? We've heard of it..." Honestly... a lot of these crypto services just don't seem to give a damn about their customers... and given how much money they're all making, I'm not buying the "we don't have the resources" excuse...

All you need to do is look at the various daily trade volumes... and do the math on how much they make EVERY SINGLE DAY with their trading fees. I guess this is the downside to the lack of regulation and oversight... there is basically zero recourse for people who get screwed over

[SimpleFX]

SimpleFX is just completely ignoring my emails now. I'm pretty sure they actually plan on keeping the BTC they stole from me without even attempting to discuss the problem with me.

Message dated: 2017-12-27, 03:40:42

@dpcanesm please send us ticket id which you received from SimpleFX Support Team, we will check it out and do our best to assist you.

Message dated: 2018-04-24, 18:07:08

That's almost FOUR months for SimpleFX to respond to this accusation!!?! FOUR MONTHS!

We just found this accusation.

[Zepher]

We just found this accusation.

I struggle to believe that when you were notified of this thread back in December:

I have written to their support system just now, letting them know about this matter and advising them to comment here in their defense or risk being branded as a fraud....

SimpleFX, PM the user who created this thread and resolve it please. You cannot be expecting him to be checking this thread when you ignored the guy for months prior to this..

[SimpleFX]

@Zepher, thank you for your suggestion, PM sent.

[dpcanesm]

@Zepher, thank you for your suggestion, PM sent.

Thank you for your message. I replied to your PM. I haven't been checking this thread because I had lost hope that i would ever get a response. SimpleFX just kept closing my tickets without responding after my last efforts to contact them. I really hope you can help.

[dpcanesm]

LOL, so after waiting a week from when i replied here, I received this reply:

https://i.imgur.com/ipA0QR0.png

And here was my reply to that:

https://i.imgur.com/YzyErjQ.png

I really can't believe SimpleFX would willingly steal an incredible amount of money from their customers like this. They truly are taking advantage of the unregulated nature of cryptocurrency and are acting as a massive bully when they think they can get away with it. What other financial exchange would STEAL the money from someone's account simple because more than one person logged in from the same location? That is so ridiculous. They have really messed with my life here as this is a massive amount of money for me, and they don't even care. They are 100% THIEVES at this point and should not be trusted.

[HCP]

Honestly, using IP addresses as "proof" of multi-accounts is relatively flawed. Not everyone has a static IP for a start... And there are a lot of instances where someone can end up using the same IP as another completely different user (college dorms, shared WiFi at Starbucks/public libraries, multiple legitimate users from one home etc)

If IP is the ONLY "proof" they have... They definitely shouldn't withhold deposited funds. That will not have resulted in any loss to them.

If anything, they should only withhold any referral commissions earned from "linked" accounts... And if they're able to detect "linked" accounts, why can't they simply prevent "linked" accounts from earning these referrals in the first place?

Surely, there is a way to settle this fairly for all parties... without the need for SimpleFX to simply confiscate everything? Refunding of outstanding balance - referral earnings maybe?

[dpcanesm]

If anything, they should only withhold any referral commissions earned from "linked" accounts... And if they're able to detect "linked" accounts, why can't they simply prevent "linked" accounts from earning these referrals in the first place?

I would have accepted that too. Also, they pay referral commissions in USD amounts, not BTC. There's no way they should look at my situation and think I deserve to lose what would have been over 60k now. It's pure greed and corruption at SimpleFX. I've told TONS of people about how i was doing well at SimpleFX and that it was easy to learn to trade there. And that was verbally without using a referral link. This is really sad.