apparently this broker is MM who intervene in the prices, to take profit of customer's position, that will put all customers under target.
I agree with nominating this broker as a scammer
Hi adelb5
take a look on the profile of the President and Principal of Fx Club:
Profil of Michael Felice President and Principal of Forex Club:
He was associate of Index Futures Group (doing business as Jack Carl/312-Futures) with 71 CFTC REPARATIONS CASES and 11 REGULATORIES ACTIONS.
He was associate of Balfour Maclaine Futures Inc with “only” 41 CFTC REPARATIONS CASES and 18 REGULATORIES ACTIONS.
And for the others companies where he was associate usually there were regulatory actions for:
• FINANCIAL
• OFFICE RECORDKEEPING
• SALES PRACTICE
• NFA GENERAL DISCIPLINARY ACTION
• CFTC ADMINISTRATIVE ACTION
Forex Club until now as only one Regulatory action in February 2010 ( FINANCIAL, OFFICE RECORDKEEPING) but the most “funny” is the status of Michael Felice on the NFA website:
• PRINCIPAL WITHDRAWN 07/26/2010
• NFA ASSOCIATE MEMBER WITHDRAWN 07/26/2010
• ASSOCIATED PERSON WITHDRAWN 07/26/2010
• FOREX ASSOCIATED PERSON APPROVED 12/02/2011
• ASSOCIATED PERSON REGISTERED 03/01/2011
• NFA ASSOCIATE MEMBER APPROVED 03/01/2011
As you can see after the regulatory action he wasn’t principal and associate of Forex Club neither NFA associate member and one year later he is “coming back”!!
Pretty interesting!! Doesn't it??
It seems that this person has pretty good contact!!
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