Discuss Broker Dealer Compliance?

[WilsonW]

brokerdealercompliance.org

Has anyone had experience with this "regulatory body"? Is it trustworthy?

I had a bad bad experience with "The Financial Commission" that did nothing but lame excuses to ignore my case so I am extremely wary of such dubious "regulatory bodies"

These "regulators" seem to me to be not of any government securities commission and are haphazardly setup by any Tom, Dick and Harry with or without a valid address and regulating some forex service providers, wanting to make everything appear legitimate until sour things happen, thus showing their true colours.

 

[Pharaoh]

They claim to have been around since 2008. The website has been around a long time, but previously was all about creating a broker and getting it in compliance with regulatory bodies by offering back office accounting services.

Real regulators have things like physical addresses and phone numbers. This one doesn't.

Real regulators list the firms registered with them. This one only has a search function.

Email them and ask for a list of their "regulated" brokers. I wonder if they'll bother to reply or not.

 

[Trueblood2015]

A few years ago, I invested about $15,000 AUD into a brokerage in Australia that was regulated by ASIC and BDC. I contacted both of them repeatedly when my funds were missing and nobody would help me at ASIC whatsoever. They didn't even reply to my emails until five months after my initial web request. The BDC however, did act as a dispute resolution agent (as the FPA does) and I eventually received my withdrawal, in large part thanks to them.

In my opinion, websites like FPA and BDC are more valuable than some of the large regulators that rarely care about clients that aren't big banks! Sad, sad.

 

[KTFXSMITH]

Amen to that Trueblood.

BDC is also known to send out alerts throwing out the dogs from their registration. Which is nice
They also don't regulate Binary which I find it amazing ANYONE will regulate Binary Options as it's such a blatant gambling scam!

What amazes me is the largest Forex regulator in the world, CySEC, knows there are huge scammers like IronFX out there that have scammed so many people and they will not throw them out! Speed is definitely what amazes me - how slow some regulators are to act and once they do it's far too late as so many people have lost money with these brokerages.

I am happy organizations like the BDC, FPA, etc are around!

 

[WilsonW]

They claim to have been around since 2008. The website has been around a long time, but previously was all about creating a broker and getting it in compliance with regulatory bodies by offering back office accounting services.

Real regulators have things like physical addresses and phone numbers. This one doesn't.

Real regulators list the firms registered with them. This one only has a search function.

Email them and ask for a list of their "regulated" brokers. I wonder if they'll bother to reply or not.

Pharaoh,
I come across this "Broker Dealer Compliance" thing as the "regulator" behind "i2 investment/ ii investment" (https://iiinvestments.com/). As I have no means of posting it anywhere on FPA, I am taking this opportunity to consult you as the wiser person here. i2 is "regulated" by "BDC" and verified by ForexVerified (http://www.forexverified.com/iiinvestments.html), doing my due diligence check before leaping in, do all these (regulation and verification) make i2 anymore trustworthy to me as a potential investor?

 

[Froso@FXNET]

BDC was at one of the recent FX Expos in Dubai last year and had some pretty good tips about trusting providers.
They did a little mini presentation and surprisingly were not selling anything like all the other presenters!

 

[WilsonW]

BDC was at one of the recent FX Expos in Dubai last year and had some pretty good tips about trusting providers.
They did a little mini presentation and surprisingly were not selling anything like all the other presenters!

Any photos to lend them more credibility?

 

[Froso@FXNET]

Any photos to lend them more credibility?

No mate I don't take any photos...sorry.

 

[Pharaoh]

They may have been in business since 2008, but this "regulation" is fairly new. Before that the site did compliance accounting for brokers.

I might have a shred of confidence if their list of regulated brokers was a searchable list instead of a search feature which doesn't seem to accept anything except full matches. So, do I look for BrokerName, Broker Name, BrokerName.com, Broker Name LLC or what?

 

[WilsonW]

Pharaoh,

This is a reply from BDC (Broker Dealer Compliance) (file:20jan2017reply.png)

And I tried, as you suggested, to search on its memberlist and only the BrokerName.com would work. In this case iiinvestments.com and the returned result is attached (file: 20jan2017member_search.png)

I have a reply from iiinvestments.com (file: 18jan2017reply.png)

And reply from its auditor Steven Thomas who is based in Australia said it's Australian (file: 13jan2017email_auditor_on_document_genuineness.png) but iiinvestments.com customer service says its Austrian (ref file: 18jan2017.png). Checking out its contact page (https://iiinvestments.com/contact-us.php) does show telephone numbers in multiple countries. I have no way to check their physical presence.

Phone Numbers:

• Global Access(UK): +44 20 3318 1990
• Germany: +49 69 20457829
• United Arab Emirates: 8000 3570 3979
• Australia: +61 2 8036 3101
• Canada: +1 780 306 7538
• Singapore: +65 3163 5216
• South Africa: +27 87 551 0824
• Qatar: 00800 100 714
• Bahrain: +973 1619 6154
• Oman: 800 74232
• Kuwait: +965 2225 1985
• Hong Kong: +852 3008 5664
• Netherlands: +31 20 808 1523
• France: +33 1 79 97 26 68
• Italy: +39 02 8295 1353
• Malaysia: +60 3 9212 1682
• New Zealand: +64 9 801 0953
• Indonesia: +62 21 29759207
• Brazil: +55 11 4118 6272
• Chile: +56 2 2405 3537

- See more at: https://iiinvestments.com/contact-us.php#sthash.5LisyhiV.dpuf
iiinvestments.com has verification with forexverfied.com at
http://www.forexverified.com/iiinvestments.html


So is such investigation thorough in confirming iiinvestments.com is a genuine investment corp that we can invest in?