I wonder how many trading and investing individuals out there have heard of David Hick and his companies under the general name Globalfx.

I opened a forex account with them back in 2009 and for the first 2 years, everything seemed fine.  The account built quite well, profits were good – and I made one or two withdrawals without any problems.  But late on in 2012, things dramatically changed.

To begin with, a spat took place between David Hick and his sales colleague which clearly disrupted things. As this disruption was going on, during which his colleague left, I was offered a new type of trade to invest in: CFDs, and  after much consideration I decided to put half of my account into them, keeping the other half in my forex account. But before I knew what had happened, and without my asking, the whole of my account had been put into CFDs.  When I questioned this, I was told clearly by David Hick: ‘a mistake has been made’.  But I was fortunate because after a bit of tough talking, I had everything moved back into my forex account.  So I did not suffer the problem that so many seem to have suffered from a margin call and loss all their monies.

However, in the past 12 months, I’ve regularly rung David Hick to arrange withdrawals – and each time I have been refused, with tales of market conditions amongst the reasons he gave.

My experience with David Hick, and in particular his consistent refusal to agree to withdrawals, leads me to believe he has no intention of paying anything back to any of his clients.