Belly-up IntegrityFX to IB: “There is nothing we can do for you” regarding customer account disconnection; threatens lawsuit

Yesterday morning, FinanceFeeds reported that IntegrityFX had taken its website offline and stopped responding to requests by clients and IBs with regard to withdrawals.

Following the investigation conducted by FinanceFeeds, further information has been provided from an IB and portfolio manager which had placed clients with IntegrityFX.

Speaking to the APAC-based IB and money manager who prefers to remain anonymous, it is looking increasingly unlikely that client funds will be retrievable.

“After several months of waiting, it looks like I finally got some response from IntegrityFX. After over 5 months, their response is that they are not going to do anything and they even threatened legal action for some negative comments on the internet” said the source.

“I totally understand why most of the larger funds are so hesitant around retail brokers, especially if they are not aligned with a prime broker or at least a PoP. But we don’t intend to spend much more time on this. It was more to just document what happened in case of a dispute or to compare notes with other victims” he said.

In the initial report, FinanceFeeds reported that one particular IB had a client who could potentially lose $80,000 should the broker have actually closed its operations.

The IB sent us an email conversation between himself and IntegrityFX, which states that one of the IB’s client accounts has been disconnected since Thursday, November 19, 2015 at 18.30 server time, and that three trades should be canceled due to inability to access the trading environment.

The response from IntegrityFX’s compliance department to this request was “There is nothing we will do for you. If anything you will be hearing from an attorney in regards to the internet verbiage that you have signed off on.”