Yesterday I was going through some financial terms on an website called as Investopedia.com
While I was reading through and watching video regarding some of the financial terms, My eyes caught an advertisements regarding iForex. Which promises to teach how the foregin exchange market works. Having no experience or understanding of this market. I was curious to try it out.
The advertisements said ‘Click here to get your free training’ and all.
I did the necessary registrations giving away my email-id and contact information, while I was sitting on the desk at my workplace.
Today, I got a call from some so called ‘training manager’ under the name Rizwan, who was talking in a rather rudely way. He asked or rather demanded me to go online and open the account on their website. Now when I told him that I don’t want to and not interested anymore the guy starts threatening me by saying they will take legal actions against me. He was forcing on this point that ‘you accepted the terms and conditions on iforex.com by which you will have to trade with us failing which I may face consequences’.
By then I became very furious and hung up. In no second my home number ranged again. when I picked up the call, same guy started talking to me in high tone demanding why I hung up on him!
According to him, the company iforex.com has my IP-address and can track me down and make me face legal actions.
Having been a little disturbed I checked regarding terms and conditions a little in detail, which I think does not forces anyone to trade like the guy was asking me to do
Link for the terms and conditions : https://www.iforex.in/legal/trading_agreement.pdf
also, I searched on google about it and came to know about many articles where people have accused iforex.com to be a fraud to just take money from your pocket.
have a look at one of such a BLOG.
The reason I have added this discussion was that I don’t know much about foreign exchange and this iforex thing nor do I know any person who can guide me. So I thought of asking help from the rodinhood coumminty.
I may be wrong with my thoughts or whatever I feel about iforex.com but that’s what I felt and want to get the answer to my question ‘is it necessary that a person when makes just an normal online account have to trade with them compulsoraily failing of which might make me face consequences?’
Need answers and some guide.
First Published on: Nov 6, 2012