Problem FOREXGEN.COM SCAM Alert! Broker stole over $160K from our trader!

[solidsmoke]

some sick stuff

Just wondering how a trader's is supposed to protect oneself? I mean, most lawyers are ignorant when it comes to FX, like so many accountants are. Maybe thought should be given to finding attorneys that are competent in dealing with FX brokers.

Maybe its bad enough that the agreements have to be reviewed by legal counsel first...

What they've done to this guy - its sickly awful... Not to say that it couldn't happen here in the US, but I avoid offshore/overseas brokers like the plague...at least I did when I was live last year

What I was thinking of though, was recording every move on the screen for the duration of trading as a back-up / proof / evidence. But would that be protection enough? Even in the US with an NFA registered Broker? I think attorneys (competent ones) are in order. Let this happen and then let the jokers get sued for 3 times the amount in question...that should slow things down.

 

[solidsmoke]

another thought

1 - I really hope Rashid(?) gets his money back - however that happens...

2 - Some food for thought on selecting a broker...not vouching for it, but something to think about its a pdf so be warned...

http://www.traderschoicefx.com/pdf/Guide_Broker_Selection%20W_%20SH.pdf

 

[77y82]

Lol

My recent chat with them:

--------------------------------------------------------

Jolia: Welcome to our live chat service.

Jolia: Allow me to introduce myself as your chat representative...

Jolia: Hello. How may I assist you?

Danny: You dont have to assist me, Just wanted to let you know I was getting ready to send you my first $100,000 to fund my live account.

Danny: Thank GOD I saw your Scam Alerts on Several Websites ! Sorry you could not Scam me !!!

Jolia: Sir we are doing honest investigations.

Danny: Ya I believe you.... LOL !

 

[aymensaket2]

Should I ever Start Forex! My Story!

Hello Everyone,

I have been researching and studying forex for three years now. I wanted to start trading as a side interest.

I used MT4 to program some amazing expert advisors, however, after a long time, i discovered that all the data feeds I was using were flawed, and my experts performed much less than expected on a demo account than on the testing platform. I even used an artificial intelligence expert advisor, and got the same bad results on a demo account.

Then I decicded to write an expert to analyse data feeds on DEMO ACCOUNTS, and guess what: I found time gaps, hunting stops, unrealistic spikes, ping timeouts, and no fills; These contributed to 75% of all expert losses on the Demo when compared to the data feeds.

I then decided to try out my knowledge by hand, and got the same results, I searched for the best review about a broker, and tested them on a demo, still I got some no fills on news times, but perhaps i did not find the other flaws.

I beleive that the work FELIX is doing is great, it may lead to some kind of more stringent regulations in the forex market.

Here is a money making idea for some guru programmer: write a program for the regulating body that will monitor all accounts for flawed price action, and -THE HARD PART- sell them the idea based on the fact that they should enforce this program to run on all accounts and report flawed transactions. The broker that accepts can then be certified frawd free.

Anyway, until regulation is more stringent, i will be watching, i do not take improper risks.

Good luck FELIX.

Regards

Aymen

 

[No Time]

Just wondering how a trader's is supposed to protect oneself? I mean, most lawyers are ignorant when it comes to FX, like so many accountants are. Maybe thought should be given to finding attorneys that are competent in dealing with FX brokers.

Maybe its bad enough that the agreements have to be reviewed by legal counsel first...

What they've done to this guy - its sickly awful... Not to say that it couldn't happen here in the US, but I avoid offshore/overseas brokers like the plague...at least I did when I was live last year

What I was thinking of though, was recording every move on the screen for the duration of trading as a back-up / proof / evidence. But would that be protection enough? Even in the US with an NFA registered Broker? I think attorneys (competent ones) are in order. Let this happen and then let the jokers get sued for 3 times the amount in question...that should slow things down.

Yo Solidsmoke,

I agreee with you 100%. Where do you find a lawyer who specializes in FOREX??? I think the banks and brokers kidnap all the good ones and keep them for themselves.:err:

You can't put a price on legal and financial advice.

 

[sky]

I have been using interbankfx,so far so good,no problem.tried a withdrawal of about $11k over a period of 2 mths,once was credited within 24hrs. the rest were credited within 2-3days. although they are some traders remarked interbankfx(IBFX) is scammer...

Hi, Everyone!

As a newbie in FOREX, it makes it scarry finding who is genuine and honest or a SCAM ... especially so, with the current FOREXGEN headline news.

Below is a shortlist of some brokers I was considering (forexgen was one, but I have now taken them out). I will really appreciate if anyone can assist with straightforward advice/recommendation about every one of them if possible:

interbankfx
northfinance
fxcast
fxclearing.ca
fxopen
liteforex
rfxt

I NEED YOUR ASSISTANCE PLEASE ... BEFORE ANY PREDATOR BROKER WILL SWALLOW ME ALIVE!

Warmest Regards.
Asiegbu

 

[Migo]

Go with MBTrading....most truthfull so far.

 

[wwasbad]

I was told by MBtrading that it is not authorized to handle accounts for Canadian residents. How did you get your account setup there?
Thanks

 

[rjc33clifford]

hello

hji everyone this is my first post but ive learned so much has any one used market traders insitute is it good is it worth the cash what about netpix idnt see either listed in the reviews i would like to hear from any one who has used any of these thanks

 

[Nu Pagatsi]

ForexGen you SUCK!

Well there are four things to learn here.
#1. Don't leave such large profits in the account. Always cash out...
#2. Never trust any Forex Broker.
#3. ForexGen can Kiss my Ass!
#4. ForexGen YOU ARE GOING DOWN!

And last but not least I really hope that guy can get his money back OR we are going to **** the hell out of ForexGen... muhahaha