Home > Forex > Finally getting money from JadeFX?

Finally getting money from JadeFX?

November 22nd, 2011

Well, first off, I haven’t gotten anything yet, so my hopes are still low. But there are news from Tracey at the CFTC reported through the forum at Donnas (strange that they can’t email us all, they have our contact information). It seems that the Court has finally approved the NFA to start reimbursing the customers. Good news!

But we’re looking at getting 50-60% back according to Tracey, and it isn’t even clear if that is 50% of the account balance on March 1st (when the CFTC shut down JadeFX) or 50% of deposited funds. Additional bad news is that they can’t wire us the money. Instead they will use a time machine, go back to the 1980’s and mail us a check! So silly. American checks are really expensive to cash here in Sweden, and it takes  a long time to process. Bad news…

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Author: admin Tags: ,
  1. Brian
    November 22nd, 2011 at 08:33 | #1

    Wow, completely forgot this was still ongoing. I guess on the bright side, it sounds like a better situation than the Crown Forex debacle..

    Curious to find out which one it’ll be (50% of account balance vs deposited funds). Best of luck.

  2. November 23rd, 2011 at 08:59 | #2

    Yeah, any money at all is more than I originally thought I would get. AFAIK Jacob only stole a few thousand dollars thou (for his kids school fee for example). I think a lot is taken by the CFTC and/or NFA to cover their expenses in the courts. A bit unfair that clients money is used for that, if I have gotten it right.

    I’m very curious about the way they calculate amount to pay since I made a profit of 150% on deposited funds. If I only get 50% of deposited funds (minus fees for processing the check) I’m looking at a very small percentage of recovery.

  3. December 23rd, 2011 at 05:43 | #3

    I still having no news about that check… I still wait to recover at least that half of my money… i still…
    Sorry, i got kind of tilt…
    Hope all of us good luck this new year with this issue.
    Regards!

  4. December 23rd, 2011 at 08:20 | #4

    Same here. I would have thought we had some news from the NFA by now. Every time there is a date mentioned by these people a little hope is awakened in me, and every time nothing happens. I actually thought we would get a check this year.

    Lets hope we get them in time for next Christmas at least ;)
    BR Johan

  5. March 5th, 2012 at 15:32 | #5

    Johan,

    I’ve just received in my apartment a letter from NFA telling me i’m gonna receive my money back from the JadeFX issue once they get it from former JadeFX owner Omukwe… I hope you received it too, and hope we soon get our money back.
    Kind regards.

    JC

  6. March 28th, 2012 at 08:56 | #6

    Hi there, missed your comment, had 380 pending… 379 were spam :)

    Nice to hear. I haven’t gotten the mail, but have been in touch with the NFA and they’ve said that they have sent me something also. They will resend it. Just hoping that when they eventually mail the check that doesn’t also disappear… :)

    BR Johan

  1. December 7th, 2014 at 11:22 | #1
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