Problem BroCo account arrested by District judge

[forexjosa]

Dear Master Sergent Pharaoh,

I agree with your general idea. And I hope that you wont be surprise about my concordance, because I made an honest effort to be coherent since from the beginning about this subject.

I just don´t agree with two "little" points of yours:

1. that the sentence you post from me are saying to people let his money there. In fact you can read "trying to be calm, following the situation, and decide to withdrawal in a slow pace ... or just being with them and keep trading?"
I just said that people should withdrawal or being there trading, is up to each one, but I recomend do it in a calm way and not invent facts.

2. the strategy how to deal with this situation.
In resume we both agree that a SEC allegation is like a fire alarm. The main different between your and mine approach, is that when the fire ring, if we just run in panic, then we probably wont find out the proper exit. We could just be trapped in some office, and then will be too late, we have to jump the window, and eventually die - (loose all the money).

On other hand, if when we hear the ring alarm, we just evaluate the situation, and made a decision, like search to the nearest and safe exit, we have great chances in succeed doing that if we stay calm focus in the facts (we hear a ring alarm, could be fire could be not, let me see what is the nearest exit, and I will walk to there, while trying to be informed of what is happening). I recommend that approach instead of just get in panic, start helling "we all just die!!!" (or in the comparative: they are scam, run!!!), usually could do more harm than the fire itself.

That is only what I am saying since from beginning, we don´t need to invent facts. Just make your decision, and ask for a withdrawal while following the situation.
What I hear from broco clients, at least until today, is that people are succeeding in find their exit (withdrawal). So, why telling people that all gonna die?

I am not broco attorney neither want to be. Broco have a serious issue in its hand, and I just hope they can completed clean its image.
If they succeed, and in addition tweak some minor issues concerning funds and regulations (which they said were already doing it...) then I will come back, happily, trading with them again.

Next week i´ll be back in business, so I will evaluate myself the situation, and perhaps no one get burn in the end. That is what I truly desire for all broco clients.

 

[Pharaoh]

Once the SEC files something like this, there's no point in waiting around. Move most or all of your money to the nearest exit as fast as possible. You can always put it back later.

The difference between a broker alarm and a fire alarm is that there is no danger of getting trampled if you panic and run for the exits with a broker issue. Whether someone calmly fills out a withdrawal form or screams in panic while doing it really doesn't matter. There's a MAJOR alarm from the SEC, and the time has come to get the money to safety by any method that works.

A little advice for those pulling cash out (panicked or not):

Get screenshots of everything and save copies of all account info. You should be doing this every few weeks, but you need the most recent info in the (hopefully unlikely) event that this situation turns really ugly. If you send any correspondence by email, BCC it to another address of yours. That will give you a copy with full headers to show that you really sent it.

Hope for the best. Plan for the worst.

 

[Natalie18]

Respond

Hello to everybody

The reason why I was not here before is that I usually monitor our official thread on this forum.

Hearings will start soon.

However I cannot miss the case to note that no one user complained about stealing their access details or nonrelevant activity on their account.

It (along with another facts) makes us believe that misunderstandings take place.

The main idea for us in this case is believed to be an opoortunity to gain 200 000.
Broco definitely values its reputation more and intends to be with you for a long time no matter if users with several posts wish that or not.

I cordially thank those who support us or just still value a good old principle of presumption of innocence.

All speculations around this case will be bound to plough the sand until hearings are over.

 

[Lenar]

You are very persistent, forexjopa, I give you that!
It might be also true that you have trader's best interests on your mind, thou I doubt it. But assuming so, here is where you are mistaking:

1. No matter how many obscure publications you will dig out from the Internets, only one of two web-sites can influence public opinion at that stage: SEC or Federal Court's(for the Southern District of N-Y).
Everyone, who ever dealt with the Federal Court system in U.S. know that it is efficient and expeditious in cases like this. If both parties to a lawsuit cooperate, there is no argument left and it could be settled in a matter of 1-2 days. But if the settlement has not yet been reached -- no article by a bielorussian correspondent of cnet will prove anything. These are just rumors, man. The facts are in the Court.

2. As you saying yourself, you have managed to withdraw your money from BroCo. So how are you trying to help the rest of it's clients, after admitting a strong possibility that their funds could be in jeopardy?
You throwing at them smoke and mirrors that you patiently dig up (or maybe seeded yourself?) from all kind of unrelated Internets, so that they would not follow your example! And why do you do this? According to you, the best way for them to protect their moneys is to keep them up to the very end (and you are saying yourself that it will be likely a disaster in the !) in a rapidly sinking mauretanian company. So you are trying to confuse them to calm them down.
I and many others here simply can not understand that logic. In fact I think there is none.

3. The freedom of speech doesn't mean a freedom not to follow the private forum's rules, so better than complaining on moderators check up if followed them first.


To finish this discussion, I would never sleep one nite if there would be a hundred dollars of mine left in any BroCo's account, is it lazer or mt4 doesn't matter. And I do not know anyone who is not a complete moron but would chose your follow your advise and "save" his money by keeping it in a burning fireplace.

P.S. I know that I will never be able to post last, you'll beat me no matter how hard I try, so I give up - I have better things to do. But you keep on going!
I'll come back to enjoy reading your posts, I promise

Sorry, but seems to me that you are broco competitor's fellow.
You see ua instead au, you speak so agressive, you say Federal court instead District court, you're trying to enlarge the problem by all means...
Where from so much anger? What did broco do for you?
Just calm and withdraw your money from there - they kept their faith so far. Why panic?..
Panic destroys more than fire.

 

[ernest8fingers]

pretzel logic

One has to wonder about several Posters that seem to be saying "dont panic-everything is OK" about a Brokerage that MAY be guilty of a very serious breech of trust and unethical account manipulation. All the other Posters are saying(including myself) is to protect account investment by removing account funds from company. No one is saying anything else-yet. And Natalie-you still havn't given any indication as to what is actually going on over at BroCo. I dont envy your company position but I would expect some information concerning these "allegations". I havn't read one post that wishes BroCo into extinction. The more Posters that leave "dont panic everything is fine" posts - cause more and more alarm-IMO.

 

[released]

Yes, here they come ( Look at my first post...). New users from unknown locations. Asking me why am I so angry that to let people know that they keep their money in a very dangerous place. Now I am working for a competitor. I didn't even know that the "Broco" has one competitor. What could that be I wonder, probably Crown Forex!
I was not angry at all, just tried to repay a bit for the great service that this forum had provided. I have many accounts, and non of them was open without me first looking up the broker here! Now I am rather angry thou.
I don't like demagogues and lairs. It seems that there are only 3 points left that they use to "defend" the sinking fast bucket shop of theirs:
1. "200000 is such a small amount to steal, definitely not worth risking reputation" -- there is no reputation yet after 2? years in business; nobody knows how many clients and what capital does Broco have because they keep it secret; I've seen smarter and more reputable "businessmen" steal much less
2. "UA is not AU, etc." -- who cares, let me ask? What is it geography lesson? what is the importance of one very remote location from another in this case? Absolutely irrelevant...
3. "District court is not a Federal Court" - I will com back to this later
Meanwhile on daily basis my email is spammed by ads such as one of today:
" Dear Clients!

In view of the numerous requests from our clients, Broco is providing you with a great opportunity of increasing your prospective return on your investments and to trade larger amounts.

Now the leverage in Broco Trader platform has been increased to 1:500. So, your initial margin requirement for trading has been reduced 500 times. This will allow you to trade larger amounts with higher profitability.

Also with this increased leverage, you will be able to perform more trades with lower margin requirements and therefore, stay longer in the market, while maintaining more available funds in your account. The 1:500 leverage is available only for clients with deposits not exceeding $10,000 (or EUR 7,450).

In order to use the provided leverage effectively and to reduce possible risks of losses, you should only manage your funds properly and carefully monitor the market movements.

Take advantage of the new opportunity and increase the potential return of your investments!"
Note, there is no mentioning of the Federal case. Just desperation to get your money at any cost. Earlier there were ads with many bonuses, commissions waived etc.
Now about the courts. On different forum Natalia herself brought up an argument that "District court" is not Federal. It is in her opinion much less important and must be powerless. Now another user makes the same point. Why not herself? Because that is a lie and she was caught ones (I can show you guys where she claimed it herself).
To put a (partial it seems) end to this, I ask you to help me here. If you know what they call "District Court" in U.S., please give your opinion here.
Is it the only Federal Court as I (having been there a few times) am sure it is?
Thank you

 

[naji]

Honeslty i dont believe a company such as BroCo and the company's president will jeopardize their image and reputation with such an act.
SEC is still investigating so lets wait and see what happens. From what i know, Broco is introducing new platforms, new services, new products...etc and honouring client's withdrawals, so i guess everything is working normally with them.

 

[released]

No, such a company as Broco and especially its famous "president", whatever his name is will never ever jeopardize their image and reputation. And they even honoring the client's withdrawals so far! Imagine that: Withdrawals honored. Where else have you seen such kindness?
SEC is still investigating fraud and "compromised" accounts. Federal Court has frozen some of them already (BTW here is the quote by Natalie18 from another forum:"There was no Federal Court acting in this situation. Saying about Federal Court you just underline your unawareness of the situation. Please study materials in English first. it was district court ...
In my humble opinion, saying sharp things withour careful studying and until the investigation is done, testifies about uncontrolled desire to defame the company.I do not wish spare my time and time of forum users fighting with forum troll. "
That is where the Broco's lie about federal courts is coming from. In their version of English District Court is not federal but some insignificant provincial little court. And if someone speaks the truth - he is but "forum troll ").
So it is business as usual for Broco. And now they are offering new services. And new 1:500 margins. A lot of new! In fact, there is no other broker left, only Broco (and their competitor?).
So I guess we must support Broco by giving them our money! Money is less important than Broco with its image and stuff. So let us all calm down, wait for the investigation, but first lets wire them the money!
P.S. Thanks for keeping the thread popular, it helps to spread the awareness.

 

[Pharaoh]

Looks like Natalie sometimes is unaware of other threads too:

https://www.forexpeacearmy.com/forex-forum/gray-area/5490-x-pi-vs-brocompany-com-broco.html

 

[Natalie18]

Respond

I am sorry to find that here is no discussion substantially.

Broco is to develop existing projects and to launch new projects abroad, holds active campaigns, indemnifies deposit commissions etc. Actually no sign of panics and stagnation.

about thread -

I am aware though. But I cannot post at the link where posting options are closed.
Our official position has been reflected by several posts consistently.
Dear released,

It is very good that you are in touch with your associate aPopova where she started thread about our company in Indonesian forum. What an honour.
Though by pointing her about Courts' classification, I just wanted to underline that before posting things about Broco apopova had to study the case before -which courts are in question actually. Of couse I would never query any court in the USA and I believe any US court is qualified enough to consider cases within the frames its competence.