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2012 at the FPA
First, I am happy to report the world failed to end on December 21st. This means that the FPA is still here to help traders.
There is other good news. Some of the scammers behind the TIRN companies were sentenced to prison. There are reports of this on pages 11 and 12 of this thread...
https://www.forexpeacearmy.com/fore...r/2451-anybody-heard-tirn-www-mytirn-com.html
The whole thread is worth reading. It shows how innocent traders can be lured into a Ponzi scheme.
Sometimes people ask if the FPA is effective. In June, I was updating some dead scam companies in the reviews and found some numbers on how effective a scam finding can be...
https://www.forexpeacearmy.com/fore...your-dead-more-scam-companies-go-offline.html
Someone please remind me to recheck the numbers in June of this year.
And in other Scam News...
Find out who won the 2011 Forex Scam of the Year Awards in these two threads...
https://www.forexpeacearmy.com/fore...0093-2011-forex-broker-scam-year-winners.html
https://www.forexpeacearmy.com/fore...-2011-non-broker-forex-scam-year-winners.html
I'll be posting the 2012 Forex Scam of the Year polls later this month
Scammers this year were mixed. Some came back to repeat previous actions. Others developed new methods to scam people.
One EA seller not only pirated the EA, but also hacked the other company's validation server...
https://www.forexpeacearmy.com/fore...de-uses-other-companys-validation-server.html
A managed accounts company made many promises, and didn't keep any of them...
https://www.forexpeacearmy.com/fore.../19470-ifti-service-failure-across-board.html
Omari, the criminal behind the Prime4x fiasco has a new brokerage ready to accept your deposits. I'm wondering how long it will be before he repeats his previous thefts...
https://www.forexpeacearmy.com/fore...mari-prime4x-return-commexfx-commextrade.html
Rizwan Awan started his 3rd managed account services scam...
https://www.forexpeacearmy.com/fore...trike-trendsfx-com-managed-accounts-scam.html
A signals provider found a new way to pirate some trades. He bought 4 commercial EAs and resold the trades those gave...
https://www.forexpeacearmy.com/fore...ing-eas-make-signals-another-form-piracy.html
PFG Best seems to have misplaced over $200 million of client money while the CEO forged bank documents to keep the NFA in the dark...
https://www.forexpeacearmy.com/fore...5-pfg-best-making-trader-money-disappear.html
This broker blackmailed a client into apologizing first in order to get a refund. Then the brioker decided to keep the money anyway. The FPA decided to call this a scam...
https://www.forexpeacearmy.com/fore...7-there-no-way-apologize-forex-ages-scam.html
UFX Markets has a long history of complaints in the forums and reviews. They finally got a scam finding in November after a 3rd Traders Court guilty verdict. There is some good news. The complaints have slacked off and I finally am in touch with someone who seems capable of resolving issues. I think there is a chance that this scam finding may be lifted sometime in 2013...
https://www.forexpeacearmy.com/fore.../22102-its-time-call-ufx-kiss-death-scam.html
In regulatory news...
FXDD sued traders, including a senior FPA member. They cancelled profitable trades. The NFA considers this to be a violation of rules. In FXDD's favor, they finally dropped the suit against that FPA member, but seem to still seem to think that the other confiscations of profitable trades were ok. The NFA also alleges that FXDD used differential slippage to take $3.3 million from clients. The NFA has ordered FXDD to secure $3.3 million, apparently in preparation for a final ruling on the case. See it from the start up to the current status here...
https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/19265-fastbrokers-fxdd-case.html
The NFA hit Alpari with a $200,000 fine...
https://www.forexpeacearmy.com/forex-forum/forex-articles/20937-nfa-slaps-alpari-us-200-000-a.html
The CFTC took enforcement against an offshore broker to a level that hurt clients worldwide...
https://www.forexpeacearmy.com/fore...use-dodd-frank-act-usa-nanny-state-rolls.html
And also fined several other offshore brokers...
https://www.forexpeacearmy.com/fore...ftc-their-crime-daring-accept-us-traders.html
Not all is negative at the CFTC. They leveled some big fines against some scammers, with a provision that money owed to clients be paid first. Details are here...
https://www.forexpeacearmy.com/fore...517-cdh-forex-cftc-ends-scam-2.html#post93113
Then there are the scoundrels...
Two FPA members disgraced themselves to the point that they were dishonorably discharged...
https://www.forexpeacearmy.com/fore...dishonorable-discharge-ahmed-t-al-nasser.html
https://www.forexpeacearmy.com/fore...25-dishonorable-discharge-mustapha-azeez.html
And a couple of liars decided to threaten to sue the FPA to hide information from traders...
https://www.forexpeacearmy.com/fore...s-try-hide-its-connection-inovatrade-com.html
https://www.forexpeacearmy.com/fore...shaun-powell-forex-trader-liar-scoundrel.html
In Performance Testing...
The calculations to deal with multiple deposits and withdrawals have been adjusted. Some companies figured out a way to improve their statistics. The upgrades seem to have fixed the issue.
The Watanabe Test Forex Project got off to a rocky start. One account doubled, then crashed a couple of times. Mrs. Li is very happy about the new rules limiting demos, since this will give her more EAs to chose from.
Those demo limits and many other new rules have been added here...
https://www.forexpeacearmy.com/fore...r-product-service-fpa-performance-testing.htm
The first lesson of Forex Military School was posted in February of 2011. The final lesson was posted in June of 2012. This is an amazingly detailed set of lessons by Sive Morton. If you haven't read it, or if you need a refresher, go here...
Forex Military School | Complete Forex Education by a Pro Banker - Forex Peace Army Forum
On April 1st, the FPA got out of dealing with forex and became the Cola Peace Army. It was a refreshing change, but the FPA got back to non-foolish business on April 2nd. The 2012 April Fools joke is all here...
FPA becomes CPA
In November, there was a meeting of most of the senior FPA staff at Felix's place to discuss future plans for the FPA. There are many exciting projects in the works now. I'm looking forward to announcing each one as it rolls out.
I'll give you a preview of one of them. The first Mini Giant Candidate just got promoted to be a Mini Giant a few hours ago. Look for the new Mini Giants folder here...
https://www.forexpeacearmy.com/forex-forum/education/
Expect the formal announcement next week.
2012 was great. 2013 is going to be even better.