MMA Forex Customers Still Await Their Money

0

Over the past 12 months, investors at Dubai based online Forex trading company MMA Forex have been attempting to get their investments back. According to Al Bawaba, a Middle-East based news agency, in October 2012, customers of the Forex company were notified that their dividend payments would be stopped for two months, which was extended to ten. Then, when attempts were made to withdraw investments, they could not and, at the time of writing this article, MMA Forex customers were still awaiting their money.

Things aren’t looking great for MMA Forex investors, as the company has been placed on a number of warning lists across Europe and it looks less and less likely that they will be paid. Authorities in Sweden, Ireland and Switzerland are warning their citizens to avoid doing business with MMA Capital Markets Limited, MMA Forex, MMA FX and MMABank GT, according to a recent article in Gulf News.

An article just a week ago in Al Bawaba states that MMA Forex owner, Malik Noureed Awan was arrested by local authorities six months ago and is still currently being detained while investigations take place. Upon hearing this news, many more dissatisfied customers have come out to complain about the online Forex company.

On Awan’s Facebook page, the alleged fraudster has been pleading his innocence, while promising to pay investors back within 30 to 50 days after the police investigation has ended but there’s a very real chance that the investigation will end with the incarceration of Awan. If this happens, it seems impossible that MMA Forex’s customers will then receive their money.

MMA Forex is still operating a website at www.mmaforex.net and they are still offering a host of ongoing promotions, including a 10% ‘relationship bonus’ when you fund your online trading account. However, when we contacted their UK customer support telephone line, we found that the number was actually a freephone telephone number for travel website, TripAdvisor. Therefore, with this in mind, we strongly recommend that you do not invest a single penny with MMA Forex!