The company trades on the Forex currency market with clients' money and charges a commission on profit made.
We have invested money with this company since July and their daily transactions on the currency market have shown in our account on a daily basis on their website. The company uses several names, EU-FX, EU International Ltd, Modern Managment and Marketing Ltd, EU Intercontinental. The last name of EU Intercontinental is used on a bank account at Emirates NBD, Al Mizhar, Dubai; the number of this bank account is 0514519818204. This bank account was supplied to us for the transfer of our funds to their account. We have not withdrawn any money from our account and at the beginning of the month I started to telephone them (971 4 313 2773) to ask about details of withdrawing money but could never speak to anybody as a voice kept repeating it was out of office hours. We have tried many times to get an answer by email but all emails remain unanswered.
In desperation we posted a query on the internet about EU-FX and a person responded from Italy who had exactly the same problem but his investment was a far larger amount than that which we had invested. After speaking to our contact in Italy he eventually wrote by email to the Dubai Financial Services Authority (DFSA) explaining the position. A Mr Omar Anwar Badri replied to say that because this company was not registered with them they could not intervene and suggested that he contact the police in Dubai.
The address EU-FX have been using is Emirates Towers, Shekh Zayed Road, Dubai. It would appear that this company have disappeared and although we do not know the full sum of money they have accumulated we suggest it could run to millions of euros. We know strongly suspect that this company have been renting virtual office space (41st floor). They are still fairly certain that these people are still active but they have led us to believe that the company is now in liquidation. People we have traced on the internet are still being contacted by EU-FX and monies are still presumably being lodged in a bank account in Dubai.
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