PFG

PFG PFG EUROPE very bad managment managed finacial account DUSSELDORF, Other

10th of Dec, 2010 by User789420

I opened a managed account with them in june 2009 (options,futures...)

I was awere of the risks involved (altough there are grades..)

I started with 10.000 . after a month or 2 I had nearly 25 % profit, so I decided to invest another 10.000 . But after that it soon went badly wrong. My contact person disapeared without letting me know. my losses increased seriously and I could not reach anyone in the German office. So I decided to take contact by mail with the US office. I sent them an e mail to take less risks, which they informed to the German office in Dusseldorf.

After a few days, the German office called me, letting me know that I had a new manager, and that they received my request from their US OFFICE.

Altough there are several possiblities to take less risks in futures, my account went al the way down.(the risks they took, increased instead of decreased)

In less then 10 monthts my account went from 20.000 (initial investments) to less then 300

Anyone who is interested can have an overview of my account, which I will glady send by mail. Other people, having experience with them, may always contact me with some legal advice to prosecute them

Thanks

Peter

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Comments

4660 days ago by Aart

I had the same problem with PFG Benelux. My store is about the same. I started in june 2010 with € 20.000 and ended at the beginning of november 2010 with € 1500. I lost in the meanwhile € 10220 on commission and transaction costs.
They are still practizing there way of doing business.

Because of the contract we signed they act according the contract, but they don't according to the promises they make.

Aart

4249 days ago by Fredericds82

Dear,

I have the same experience. Started with about 30k and ended up with... Nothing in just 3 or 4 months time.
I'd like to investigate the possibilities to file charge. Maybe grouping us would be a good idea. Feel free to mail me at fredericds82 (at) gmail.com

Cheers,
Fred