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Business Profile

Stock Exchange

IEX Group, Inc.

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 2 total complaints in the last 3 years.
  • 0 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:04/19/2024

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    There was price increase i was unaware of. I requested a cancelation and refund. They refused to cancel my subscription and refund my money. I requested to speak to the Manager the customer service rep ********************* said he was the manager. I requested to speak to his direct manager and was refused. I requested to speak to the billing department and was refused. I have not used the service in over a year and i was paying 115 a year for the service. The price increased to ****** a year. I noticed this on my statement for my credit card and then reached out to customer service who refused my basic request to cancel my service and refund my money. The billing cycle for the year was on 3/15/2024 and i requested to cancel my subscription on 4/19/2024

    Business Response

    Date: 04/26/2024

    Thank you for reaching out regarding customer complaint ID ********.

    We have reviewed this matter, and while we dont believe the claims are accurate, we have refunded the customers money and canceled their subscription in order to close out this matter. To clarify, the customer signed up for an annual subscription to our services, which are billed in advance, and has been a customer since March 10, 2021. We implemented a price increase effective March 10, 2024, about which the customer was notified via email on February 2, 2024 in accordance with our terms of service. The customer did not notify us of their intent to cancel their subscription until April 19, 2024 over a month after their subscription automatically renewed per our terms of service. Our terms of service have always stated that annual subscriptions automatically renew on their anniversary date, that the associated fees are billed in advance, and that fees are non-refundable.

    Despite the foregoing, in order to close out this matter, we refunded the customer the disputed amount of $479.84 (this may take 5-10 business days to process) and have canceled their subscription to our services as they requested. Please let us know if there are any questions.

  • Initial Complaint

    Date:08/05/2022

    Type:Customer Service Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    My name is ********************* and I am currently involved in an apparent crypto related scam. I am doing business w/ a company called Investor's Exchange (IEX) and my member ID# is *****. I am experiencing nothing but problem after problem w/ this business. This issue is extremely important to me as I am in danger of losing a large portion of money allotted for my retirement. My scenario is as follows:I met a friend, who after 2-3 weeks, started extolling the virtues of investing with IEX). I completed several transactions and had a nice profit to show for it. Around June 15, 2022, I was notified that taxes in the amount of $127,000 had to be paid by June 22, 2022 otherwise I would face a fine of $500.00 a day. I inquired with IEX if I could use my profits to pay this amount and I was told that I could not do that. I somehow gathered the funds and rendered payment slightly late, incurring a fine of $1,500.00. IEX acknowledged receipt of these funds, and I believed the money would be forthcoming. Upon receiving the funds from me, within 10 minutes IEX sent me an email saying that I would have to send them roughly 202k for something called funds verification. I secured several loans, including $70,000 from my father. Upon sending IEX the requested funds, I received another letter from IEX stating that they suspected me of money laundering and would have to pay $257,663. I have also been informed by the IEX staff that they will not release any money to me until I pay the $257,663. I realize that I am in over my head and probably need to seek crypto related assistance regarding this matter. I am hoping to recoup the $129,000 and also the $202,000 and am willing to forgo any profits generated from the transactions. I have asked IEX for to return the money and after about 3 weeks of asking, they refuse to return the funds referenced above. I have saved all the documents related to these transactions and IEX acknowledges receipt of funds. Thank you!

    Business Response

    Date: 08/05/2022

    Hello, 

    IEX Group, Inc. (IEX) is not affiliated with the trading application or website referenced in your note.

    In addition, please be aware that IEX is not a registered retail brokerage or investment advisor. This means that IEX will never ask individuals for money or securities nor recommend investments. You cannot open an investment account with IEX. If you have screenshots of other records of communications with an entity presenting themselves as affiliated with IEX Group, Inc., IEX Exchange, or any other IEX business, we would appreciate if you would share these records with us.

    If you're contacted in the future by an entity impersonating IEX, or claiming to be affiliated with IEX, please contact *************************************** to confirm the legitimacy of the claim.

     

     

IEX Group, Inc. is NOT a BBB Accredited Business.

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