The forex trading services company, Executive Forex (formerly Forex Kinetics), charged R15 999 to my credit card to provide me with on-line training material and to install the GKFX trading software on my PC. The sales person gave me a Moneyback Guarantee Letter that stated that I may cancel the contract after a 3-month evaluation period and get a full refund. During this period I did not receive any trading alerts for a week and their support team was not responsive. The training material was also standard but the GKFX software is also freely accessible on the internet. So I send them a letter of termination and several e-mails which they ignored. Three months later, my lawyer send them a letter to which they responded but claimed that I did not comply with one of the conditions of the Moneyback Guarantee (i.e. work closely with their support team). Until now Executive Forex refuses to refund me and still wants to enforce a subscription fee of R256 pm for trading alerts although I do not have a live trading account with them. Being unemployed, this has been a great financial loss and I think the letter was just a to get me to sign the contract.
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