| The Forex Truth WHAT EVERY TRADER NEEDS TO KNOW... |
| "SCAMS" |
| One World Capital Group LLC www.1world-forex.com www.1worldfcm.com |
I was very sad to see this one situation go bad. Here's what
happened...
As I said, I trade with a group of several people. We opened an
account with One World late last year and didn't have any problems
whatsoever. It was fantastic and we were all pleased. But as with most
things, if it sounds too good to be true, it probably is...
happened...
As I said, I trade with a group of several people. We opened an
account with One World late last year and didn't have any problems
whatsoever. It was fantastic and we were all pleased. But as with most
things, if it sounds too good to be true, it probably is...
I decided to open a personal account with One world in February of this
year (2007). I deposited $1500 initially and actually let the account sit
for over a month without touching it. I was focused on several other
larger accounts at different brokerages and was just glad I had an
account with One World. In late March, I deposited another $5500 into
the account and was going to begin trading it along side my other
accounts. In fact, it was great timing because the Canadian
Employment Change and US Non-Farm Payroll reports were just
around the corner. I was very happy to be able to trade these reports
at One World because they had proven themselves to be upstanding
and honest when it came to their MT4 platform and their fast trade
execution. It was top notch.
Well, on Thursday, 4/6/07, the CAD report was beautiful and I hit it
perfectly! I made 32 pips profit on 1 lot and 44 pips on the other lot
for a total profit of $658.46. This was a great trade and I was very
content with One World.
The next day, Friday, 4/7/07, the NFP report came out and I only
caught 20 pips on 1 lot and broke even on the other lot. I wasn't too
pleased with these results, but it was Good Friday and I had an idea
that the move may be muffled due to the upcoming Easter holiday. I
was a little disappointed, but I made a profit none the less and anytime
I profit instead of loosing, I'm happy. Also, One World's execution was
great!
Later that day I called one of my investors to see if she had seen the
account. She said she had and asked me why I had taken out the
profits from both trades. I was stunned and thought she was just
looking at things incorrectly; perhaps not looking at all the trade
history. I then logged back on to my One World MT4 platform and got
a sick feeling in my stomach. Here, look for yourself...
year (2007). I deposited $1500 initially and actually let the account sit
for over a month without touching it. I was focused on several other
larger accounts at different brokerages and was just glad I had an
account with One World. In late March, I deposited another $5500 into
the account and was going to begin trading it along side my other
accounts. In fact, it was great timing because the Canadian
Employment Change and US Non-Farm Payroll reports were just
around the corner. I was very happy to be able to trade these reports
at One World because they had proven themselves to be upstanding
and honest when it came to their MT4 platform and their fast trade
execution. It was top notch.
Well, on Thursday, 4/6/07, the CAD report was beautiful and I hit it
perfectly! I made 32 pips profit on 1 lot and 44 pips on the other lot
for a total profit of $658.46. This was a great trade and I was very
content with One World.
The next day, Friday, 4/7/07, the NFP report came out and I only
caught 20 pips on 1 lot and broke even on the other lot. I wasn't too
pleased with these results, but it was Good Friday and I had an idea
that the move may be muffled due to the upcoming Easter holiday. I
was a little disappointed, but I made a profit none the less and anytime
I profit instead of loosing, I'm happy. Also, One World's execution was
great!
Later that day I called one of my investors to see if she had seen the
account. She said she had and asked me why I had taken out the
profits from both trades. I was stunned and thought she was just
looking at things incorrectly; perhaps not looking at all the trade
history. I then logged back on to my One World MT4 platform and got
a sick feeling in my stomach. Here, look for yourself...
Yep...it's true. They stole all the profits back from my trades. What makes this worse is the way they
did it. Here's what I mean...
One Good Friday, the US market closed early at noon, EST as did most of the brokerages, including
One World. I didn't notice the funds missing until approx 2:00 - 3:00 pm central time (Dallas, TX) and I
immediately called then emailed them. The last trade that took place was on the GBPUSD at 15:30 MT4
time or 8:30 EST. My profits were taken out at 20:22 & 20:23MT4 time, or roughly 5 hours later which
was @ 12:23 in NY. One World's offices are in New York City. One World closed for the day at noon
EST. So, I conclude that the One World staff waited @ 20 minutes after they closed to remove my
profits from my account. That is extremely cowardly, underhanded and dishonest down to the core.
I can honestly say that I was shocked by this. By the time I found out about this, I called One World
and only got a dial tone. There was no message or recording for the holiday weekend, just a dial tone. I
guess I took them for granted and was hoping that my first impressions of them, an honest
brokerage, would hold up. I was very wrong.
I didn't get a chance to call them until the following Monday. I waited until the afternoon to give them a
chance to respond to my email but received nothing. Finally, later in the afternoon, I called and asked
for my primary contact at One World, Matt Donofrio, who I had spoken with on several occasions. Now,
Matt and I had talked for several months before I opened my account. In fact, my first contact was
David Littlefield, who quit in January of this year. Matt emailed me and requested I contact him, which I
did. We talked about everything, including news trading and he assured me several times that One
World had no problem with news traders whatsoever, just as long as that wasn't the only style of
trading that was being done. Well, they didn't even give me a chance to take any tech trades before
drawing their false conclusions.
Anyway, I called, asked for Matt, who usually talks to me as a friend. He got on the phone and I
proceeded to ask him about my cancelled trades. I was immediately put on hold and transferred to Tim
Furey, the director over One World. Tim told me that One World doesn't allow this type of trading or
any type of trading where the profits are coming out of their pockets. Tim said that if they are unable
to take the other side of our trade (trade against us) then they would not allow the trade. This
contradicts what I was told by both David and Matt about One World routing all their orders to several
different dealing desks and not taking the profits from them directly. Tim also said that there was no
way I was going to get the funds back and if I pursued this matter he would have One World's lawyers
contact me.
I tried talking to him reasonably and ensured him that I don't trade the news alone, as all of you
already know. I even sent him a screen shot of my tech strategy and where I had taken trades based
off of it. He didn't budge. After arguing with him for several more minutes, I decided I didn't need to
burn a bridge here and asked him about some other ideas I had with investing a large amount of funds
into One World, which I now have no intention of doing. The conversation ended shortly thereafter and
I was sick to my stomach.
Well, as you can see by the screen shot, that prompted me to pull out all these funds and get a
different broker for this small account. I've already told everyone I know what happened here and I
know at least a dozen people who have accounts with One World and are reevaluating their
relationships with them.
I thought for over a week before deciding to post this on my website. I was just going to let it go, but
I couldn't. I don't want any of you to get ripped off by One World Capital. Even though they told me
they didn't want to loose me as a client and that I could still trade with them, the underhanded way
they pulled my funds from my account during a time in which it was impossible for me to challenge it
makes me question their ethics and all their business practices as well. They should have at least
responded to my email and called me back, but it was I who had to take the initiative and find out just
what kind of people run One World Capital.
So, that's it for this story. I am still debating on whether to file a complaint with the NFA and will
probably make that decision within the near future. Just remember...
In my opinion...
If you are looking for an honest broker who wants you to be successful, you must...
STAY AS FAR AWAY FROM ONE WORLD CAPITAL AS YOU CAN!!!
If any of you have any questions or would like to call me regarding this, please contact me by any
means you see on this website.
Good fortune to you!
EWB
did it. Here's what I mean...
One Good Friday, the US market closed early at noon, EST as did most of the brokerages, including
One World. I didn't notice the funds missing until approx 2:00 - 3:00 pm central time (Dallas, TX) and I
immediately called then emailed them. The last trade that took place was on the GBPUSD at 15:30 MT4
time or 8:30 EST. My profits were taken out at 20:22 & 20:23MT4 time, or roughly 5 hours later which
was @ 12:23 in NY. One World's offices are in New York City. One World closed for the day at noon
EST. So, I conclude that the One World staff waited @ 20 minutes after they closed to remove my
profits from my account. That is extremely cowardly, underhanded and dishonest down to the core.
I can honestly say that I was shocked by this. By the time I found out about this, I called One World
and only got a dial tone. There was no message or recording for the holiday weekend, just a dial tone. I
guess I took them for granted and was hoping that my first impressions of them, an honest
brokerage, would hold up. I was very wrong.
I didn't get a chance to call them until the following Monday. I waited until the afternoon to give them a
chance to respond to my email but received nothing. Finally, later in the afternoon, I called and asked
for my primary contact at One World, Matt Donofrio, who I had spoken with on several occasions. Now,
Matt and I had talked for several months before I opened my account. In fact, my first contact was
David Littlefield, who quit in January of this year. Matt emailed me and requested I contact him, which I
did. We talked about everything, including news trading and he assured me several times that One
World had no problem with news traders whatsoever, just as long as that wasn't the only style of
trading that was being done. Well, they didn't even give me a chance to take any tech trades before
drawing their false conclusions.
Anyway, I called, asked for Matt, who usually talks to me as a friend. He got on the phone and I
proceeded to ask him about my cancelled trades. I was immediately put on hold and transferred to Tim
Furey, the director over One World. Tim told me that One World doesn't allow this type of trading or
any type of trading where the profits are coming out of their pockets. Tim said that if they are unable
to take the other side of our trade (trade against us) then they would not allow the trade. This
contradicts what I was told by both David and Matt about One World routing all their orders to several
different dealing desks and not taking the profits from them directly. Tim also said that there was no
way I was going to get the funds back and if I pursued this matter he would have One World's lawyers
contact me.
I tried talking to him reasonably and ensured him that I don't trade the news alone, as all of you
already know. I even sent him a screen shot of my tech strategy and where I had taken trades based
off of it. He didn't budge. After arguing with him for several more minutes, I decided I didn't need to
burn a bridge here and asked him about some other ideas I had with investing a large amount of funds
into One World, which I now have no intention of doing. The conversation ended shortly thereafter and
I was sick to my stomach.
Well, as you can see by the screen shot, that prompted me to pull out all these funds and get a
different broker for this small account. I've already told everyone I know what happened here and I
know at least a dozen people who have accounts with One World and are reevaluating their
relationships with them.
I thought for over a week before deciding to post this on my website. I was just going to let it go, but
I couldn't. I don't want any of you to get ripped off by One World Capital. Even though they told me
they didn't want to loose me as a client and that I could still trade with them, the underhanded way
they pulled my funds from my account during a time in which it was impossible for me to challenge it
makes me question their ethics and all their business practices as well. They should have at least
responded to my email and called me back, but it was I who had to take the initiative and find out just
what kind of people run One World Capital.
So, that's it for this story. I am still debating on whether to file a complaint with the NFA and will
probably make that decision within the near future. Just remember...
In my opinion...
If you are looking for an honest broker who wants you to be successful, you must...
STAY AS FAR AWAY FROM ONE WORLD CAPITAL AS YOU CAN!!!
If any of you have any questions or would like to call me regarding this, please contact me by any
means you see on this website.
Good fortune to you!
EWB
© Copyright 2006-2010 Elbert Wade Box, Jr., "The Forex Truth" TM – All Rights Reserved
"The Forex Truth" is a registered Trade Mark and is owned by Elbert Wade Box, Jr.
All contents of this website are private and copyrighted. No portion of this website, including screen shots, may be
reproduced without written permission from Elbert Wade Box, Jr.
"The Forex Truth" is a registered Trade Mark and is owned by Elbert Wade Box, Jr.
All contents of this website are private and copyrighted. No portion of this website, including screen shots, may be
reproduced without written permission from Elbert Wade Box, Jr.
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