FxRally customer reviews

Updated: April 2, 2026
FxRally
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Summary
Multiple reviewers describe FXRally and affiliated services (School4Traders, Algo Trade/Wyden.io and similar) as a professional scam: persistent, high-pressure phone cold-calls that start friendly and flattering, then manipulate and shame clients into investing more. Reported tactics include fake or changing staff names (Orestis, Nikko Dumar, Alic Van Holden, Jay Sandero, Zac, Adam, Jonathan, Michael Toras and others), spoofed phone numbers, false office locations (often claiming Switzerland), cloned account interfaces, initial small withdrawals to build trust, then blocked accounts, frozen funds and vanished communication. Attackers request remote access (AnyDesk), manipulate trades and online banking, demand extra “fees” or loan payments to release funds, and encourage unwarranted transfers rather than card payments. Victims report losses ranging from small deposits (~£250) to tens of thousands (£30k+), emotional distress and at least one claim of sexual harassment. Many tried chargebacks, police and regulator complaints (FCA/ActionFraud), with mixed results; reviewers advise using card payments to preserve chargeback options, never granting remote access, avoiding bank transfers/BACS, and spreading warnings. Some mention third‑party recovery services or chargeback offers—treat with caution, verify independently. Overall consensus from reviewers: avoid this broker completely and report any contact to authorities.
Rodney Hunter
22.03.2024 | 11:43

My experience started with a $250/ us$375 au investment on a TV show called the project in Australia with two famous presenters saying this is the only way to make a living you only have a short period of time and you will not get in. There is only so many spaces left. If you apply, you may be lucky end result, was after my case manager Mr ZAC EDWARDS from South Africa took over, final result was US$1.6 million or$ 2.4 million au dollars totally disappeared under Mr. Zac Edwards careful management blamed everyone else…do NOT trust this man ! or FxRally my entire life has been destroyed. They do not want to know me this is a very bad company Fxrally

tariq
15.02.2024 | 15:14

They don't even deserve a single star. Extremely pushy individuals and incredibly convincing in their approach and their alleged performance and ethics. Question remains why have they not been stopped from trading and why are they still operating and scamming people all over the world?

𝑅𝑒𝒸𝑜𝓋𝑒𝓇𝒾𝓃ℊ𝒸𝑜𝒾𝓃 𝒸𝑜𝓂
06.12.2023 | 02:24

Stop complaining here. Be good and bring your problem to chargeback organization written on my name and get a refund otherwise you will wait for it forever.

Peter H
22.11.2023 | 17:27

School4Traders, FXRALLEY Currency Index Thieving Scammers.🤬 Any good reviews are made up by employees. You will lose all your money. Do not let them get access to your computer or IPhone through the remote app AnyDesk. You have been WARNED

Muller
18.11.2023 | 00:51

The company did not refund me and ignored my requests. But 𝚁𝚎𝚌𝚘𝚟𝚎𝚛𝚒𝚗𝚐𝚌𝚘𝚒𝚗 𝚌𝚘𝚖 solved my refund problem!

Jazmine
09.11.2023 | 03:14

I had to invite a third party... Coin……… Refunds……org………..and then I received the $32000 refund

Anonymous
16.09.2023 | 21:11

Same experience - lost the minimum as everyone else. Jonathan B and Richard Grey. I've reported them whatever good that will do I don't know. Very realistic scammers. I've blocked them all now.

Michel Binet
29.07.2023 | 20:07

My story is similar to what I've read in the comments, so I don't feel the need to add one more pathetic news..! Just that I haven't seen the name of my FXRALLY scammer appearing..! JAMES CLARKE, if it's his real name..! Should have listened to my intuition from the beginning, instead of my raison..! Would like to know if there are other 'victims' of that fraudster..!

nancy petijon
06.07.2023 | 15:14

I was also scammed by Jay Sandero. Only the minimum £250 but pressured to pay in more. Ive cut all ties but am now being plagued by same company offering to investigate my claim and get my money back, obviously much more than I invested. Numbers begin 020 and always the same. Be very careful as they asked to remotely access my laptop. £250 worse off but a lot wiser.

Sandra Hill
20.04.2023 | 11:38

This company has stolen thousands of pounds from me. Zac, who is the “manager” and Adam the rep that I dealt with. It’s amazing how polite and nice he was, but I should have know he was to good to be true. Anyway, once I’d put money into the trading account I’d been told to take my money out as they were scammers, I tried to get it out but to no avail. I emailed Adam a couple of times on the Friday no reply. I sat all weekend a nervous wreck, even suicidal to be honest. Monday morning I had a few miss calls from Adam which I was surprised to see as I didn’t expect to hear from FXRALLY again, but, I decided to email and see what he’s says, I told him what I’d been told and tried to withdraw my money but was unable he said he would deal with it and convinced me to continue trading. I thought that if he was a scammer why would he ring me? But, he was a scammer, and continued to manipulate me. I was noticing the profits were good and he would continuously point out the growth, but I still couldn’t withdraw, I got up to over $19,000 so said I’ll withdraw $14,000 and gamble the $4,000+ but the condition was,I had a 2,750 dollar credit to pay upfront before withdrawing. So to get my money back I paid it, lost the lot. He decided once I’d paid the CREDIT I’d be able to get my money back, but he started opening trades without asking me, he could manipulate my computer mouse to pick and add trades via any desk, I wasn’t sure what was happening, then I noticed the profits slipping away to 47.44 dollars. These people are cunning and powerful, they need to be stopped! Why they cannot be caught I’ll never know… Now, what do I do? And how do I get my money returned? I have voice recordings and photos.

Iain Cameron
04.04.2023 | 19:25

This company is a complete scam. Please don't even entertain the fact of investing with them. I've lost almost £7k and they are so convincing that like me you can be easily duped into investing more and more. They call you regularily when you invest then when you want your money back or to take your profits out then there's nothing. Beware of a guy who calls himself Alic Stansford as he was the guy I dealt with.

Francis Rowley
27.02.2023 | 13:45

Do not hesitate to reach out to me if you have been cheated by this company. I will ensure that you get your money back.

Graham Murray
11.01.2023 | 17:12

Adding to my last review. I was able to log into my so called account yesterday by changing several passwords. I have discovered that money has been removed from my account without my knowledge and authorisation. I eventually got through on the phone to their “Support Team” It’s always the same woman. I asked where the Office was based and she said Switzerland. I asked for the Office address and she said she was not allowed to give it out. I told her about the missing money and asked to be put through to accounts. She said she was not able to do that. I asked why and she said she wasn’t allowed to. I asked how to make a complaint. She said I couldn’t and that my new Account Manager Jonathan would call me today at 1400hrs. Needless to say nobody phoned. Have tried to get through on their “support line”. Just the answering service. Fxrally.co was using Algo Trade 4 account to supposedly carry out trades. When it was working that is what I was supposedly logged into. Algo Trade business has closed and the new name for it is Wyden.io and they according to their website have Offices in Switzerland. I do see Algo Trade reviewed and referred to and seemingly associated with FXRally.co. Has anybody any idea if there is an association? These people need to be stopped. I fully intend to report this crime to the Police in Switzerland to see what happens. I have emailed Wyden.io for clarification and emailed support@fxrally telling them I intend to report it unless I get a reply in 48 hrs. I know I won’t. They are just unregulated Scam supposed trading company. They don’t comply to GDPR either although they say they do. Just more lies to trick people. Since posting this the Company have phoned me regularly to invest more money. How crazy is that when they still have £15000 of my money and won’t release it. Despicable Company and Despicable people taking life savings/money from the vulnerable. Apparently Police struggle to do anything as it’s not know where they are actually based. Another Fraudulent Company hiding in the Web scamming a lot of people of a lot of money. Does anybody know where I can report this to get the site taken down?

Customer
10.01.2023 | 16:29

Since 31 October 2022, my account has been blocked. This is a scam website. Please be aware they will clone the information they give you to make your account look legit. It's a shame Trustpilot did not pick up on the scam before we all invested with FXrally. I am £17200.00 out of pocket and the site is still running. The name Orestis keeps on popping up, he was also my accounts manager. If anybody got any information on this guy I would gratefully appreciate it if you could forward it to me. He also has a website of his own, Algo Trade Ltd. which is based in Cyprus.

Gary Caulfield
10.01.2023 | 15:59

Constantly phoning until my personal account was empty then silence...tryed the phone number and email on their site both unobtainable

Graham Murray
08.01.2023 | 23:55

Can’t give it any less. A Fraudulent Scam. Reported to Police. Since May I have tried to get my money back some £32000 taken by Nikko Dumar, Alic Van Holden, Jay Sandero, Tommy E and Donna Z. This is a web based Fraudulent Scam making millions from vulnerable people. They sign you up or kid on they do to the other part of the Scam School4traders. They used to us MT4 as the platform to do supposed trading of the markets. Due to complaints to MT4 and MT5 Company they have been banned at the end of October 2021. They now using webtrader on their own site. They have no offices and probably work from home. They call you from spoofed numbers which relate to other people. I’ve phoned them believe me. It’s all a set up. Once they have your money they kid on it’s trading using the indicators supplied by School4traders. Nikko Dumar does nothing but lie to you and try to extort more and more money warning you if you don’t “invest more” you will lose it all. It’s all rigged. Then when you say no more money Sandero gets involved and offers you a loan to “save your money” All lies.Then Alic Van Holden the supposed owner of the company gets involved with all the crap once again to save your money. Initially to give you confidence they make money for you or at least it looks that way. They even allow you to make small withdrawals in line with there contract. Once you stop giving them money that all stops and they cut all lines of communication, They walk away with all your money. None of it ever was traded on the FX exchange just one big scam. If you get pulled into this scam only give them money via credit and debit cards. At least that way you have a chance of getting your money back. Whatever you do do not to a Bank Transfer of funds or BACS. They also gain control of your computer with a program called AnyDesk. This is so they can “show you “ how it works. Then they manipulate your online bank accounts. The also us a Program called Wire.@AlicVanHolden. @nikkodumar. @jaysandero. All the programs are free. This should warn you that a “multimillion pound company” uses free software to do business. Tommy.E uses WhatsApp. They operate from Bulgaria although they tell you they are in Switzerland. The Fxrally.co website they use when examined is based outwith any law restrictions for trading. There are no details of the owner of the website as it’s blocked by a Company specialising in that in USA. The actual server they use is in the Netherlands. They are unregulated and covered by no rules or obligations. PayPal continues to close down accounts they are using to transfer your money but they just do new ones as xxxxxxx g.Mail. Read the rest of the reviews here saying the same thing. DONT GIVE THEM ANY MONEY. I urge anybody reading this that’s been done to report to the Police and Financial Conduct Authorities. FCA and Actionfrauduk. I’m trying to get the site taken down and the more pressure on the authorities the more chance it will happen. Please spread the word in any other social media platforms to save people the distress that people have suffered. None of the names as above have any digital profile which is impossible for a trading broker dealing with millions every day. Van Holden uses a pic of a chap in Canada who is legit. He has been informed. All false made up names like all the rest of the crap the are. Graham L. Murray.

Happy mom
24.12.2022 | 00:53

Very professional scam. Persistent and convincing. Admitted there was a problem at their end, ie there spotted some fraudulent transactions, account now frozen and will convince you that they are trying to make things right, unfreeze the account to return the money. Will 'guide' you in very step and then take your money right at the end. Very convincing. Stay clear!!

Jon Swinbourne
22.12.2022 | 15:15

I just received a phone call from Micheal Toras from FXrally. He started by saying that my money hadn't been stolen, but was lost in the market. I said my account manager Orestis sent my money to the wrong address twice. He said nobody by the name Orestis is in their company and that I'd been scammed. Do you know your account security number he asked? So I started looking where I had it hidden. But then Micheal just gave me the security number **** The number that nobody is supposed to know about besides my account manager and myself. I told Micheal to give me his email address and I'd send him some info. The first email sent to me when my account was set up said Hi Jon, My name is Orestis and I am reaching out to you regarding the trading account you maintain with us and Adam helped you to create Your security code is **** So Orestis was the first to send me that security code before Micheal. Therefore Micheal was lying about Oreatis, if thats their real names. Who knows? Anyway, I've read review's from other people who dealt with Orestis at FX Rally. Thrustpilot helps expose these horrible dirty thieving lier's for what they truely are.

Harpreet Virdee
19.12.2022 | 16:07

Professional fraudulent company. I’ve lost over 6 thousand pounds with these people got sexually harassed. Have proof and now sent this to UK fraud team. I won’t recover my money. But can say do not work with them. They become your friend and then start to manipulate you.

Adele
12.11.2022 | 08:15

My husband used this company for a bit of an experiment using a couple of hundred pound we had spare. This was somewhat of a tester as he’d had no experience in dealing in shares etc. I was present during a phone call conversation he was having with the ‘banker’. The gentleman on the phone immediately come across as bogus when there was no consistent number and the calls were drawn out drivel of how much money he can make, claims of being a top notch trader and that my husband was ‘small fry’ and he was doing him a favour by bothering to look at the account. It was immediately clear to me that he was bogus and hyping himself up as being some high end trader when for all we know, he’s living with his Nan and sat there in his underpants playing his Xbox in between phone calls. I found it most ridiculous at the point he was claiming that his secretary would book in an appointment for his next phone call to my husband and then arranged it himself. My husband has his money so we haven’t lost anything but just didn’t want for anyone else to be taken in by this guy who’s unprofessional, arrogant and rude. It’s clearly a scam, listening to this guy big himself up and belittle or shame people into ‘investing’ more money otherwise they’re ‘wasting his time’ when he’s dragging on the phone call in a manner only befitting an employee of a half baked hard sale call centre. I’m sorry but we’re out! No investment from us.

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