Forex Peace Army Members Forums>

[AsstModerator]

For several months now, we've been preparing to make the Reviews and Ratings system of the Forex Peace Army more useful and informative to our members and our visitors.

Currently, we are going through the task of checking through the many thousands of old reviews on our site and are deleting some of the less useful ones (e.g. "Demo account looks good - I give them 5 stars"). This may take awhile to complete, but we decided not to let that get in the way of our other upgrades.

The biggest part of this changeover is that we will be disabling the ability of visitors to leave a rating of Scam. Only Forex Peace Army members ranked Private and above will have the ability to open a Scam Resolution Ticket. When this happens, evidence will have to be presented and an investigation will have to be completed before a scam complaint can be marked as confirmed. We plan to make this system available to our members in early March.

Until the Scam Resolution Ticket system comes online, if you have been scammed and have evidence, please start a thread in our Scam Alerts area of the forum. This will let us begin the investigation without having to wait for the progamming team to put the final touches on the new software.

Since almost all prior scam ratings did not require evidence or verification, we felt it wasn't fair to leave them as they were. We felt that changing them to 1 Star ratings was the most fair option both to the companies and the reviewers and have just done so today.

There are two exceptions. The first one is Refco. They went under in the midst of many customer complaints and much money was lost. This is more than enough evidence to confirm that they were a scam in our book. There has also been more than enough evidence shown to Rob and Felix to confirm the complaints of Rashid and some other traders against ForexGen for taking money from traders. Also, there is more than enough evidence to show that one or more ForexGen IBs made misleading statements. They did this in many forums in an effort to lure customers to ForexGen. Because of this, both of these companies will be set to an overall rating of SCAM.

Please visit the Basic Training portion of the forums for a more detailed look at the standards of the Forex Peace Army's rating system. Also, we've added areas for both Reviews and Scams to our FAQ section here...
Forex Peace Army Forum - FAQ

If anyone knows of any other forex companies that have gone out of business in a similar way to Refco, please post here so we can mark them as scams. Also, if any of the companies we have review areas for have gone out of business for other reasons, please let us know so we can remove them from our review listings.