Recent content by ibham1

What additional steps are required to label this broker as a SCAM?

The link provided above was also in Russian. None the less, I use google translate to figure out each section and submitted my query. It has now been nearly two weeks, I still haven't had a response. Is possible for FPA to contact BMFN directly to try and resolve this issue? Many thanks for...

The FSA has been messing me about for the past few months. I was told by the FSA to make an official complaint to BMFN and then complain to the Financial Ombudsman Service (FOS). I filled in a lengthy complaint form with all my evidence, FOS didn't even look look at it, they said my complaint...

I have hit a brick wall in terms of the FSA helping me. Basically they have said BMFN are covered under the "Payment Service Regulations". So my complaint regarding the execution of trades is not covered. Is this something the FPA can pursue directly with BMFN? Thanks

Thanks to everyone with your advice and support. If a broker clearly mentions that scalping\news trading is not welcome then you shouldn't attempt such trades. In some cases a broker may say we don't like your style of trading, please take your business elsewhere - I don't have any problem with...

Just received the following from BMFN's compliance dept: "The account you reference was held with Boston Merchant Financial, Ltd (BMFN), a Russian broker regulated by the FFMS. The FSA is not the appropriate or applicable regulator to contact and have no jurisdiction regarding issues with your...

As you can see from the emails BMFN sent me, they aren't interested in discussing the matter, they just keep telling me I broke their T&Cs without providing proof. They also keep trying to scare me off by saying they will demand back the 15K I have withdrawn if I take this further. In my...

I have fully adhered to BMFN's terms and conditions, BMFN have not provided me with any evidence to suggest otherwise. Also, I have been unable to discuss the matter with BMFN without constantly having the door slammed in my face. In the last email I received from them (12th March 2012), they...

I have contacted the FSA, they have told me to make aformal complaint to BMFN (which I have now done). BMFN have 8 weeks in which to make a final decision. I can then contact the Financial Ombudsman Service to look into the matter. Will FPA be contacting BMFN in order to provide their side...

I will contact the FSA to get the ball rolling on their end aswell.

I placed a total of 64 trades. These 64 trades were held open for a total of 74 hours and 33 minutes, so an average hold time (difference between opening and closing a trade) well above 1 hour per trade. All trades were closed on the same day (except for two). These two were held open for...

Hi, thanks for the reply. These brokers know they are in the wrong and are also aware they don't have a leg to stand on. They also try to scare you so that the trader will not take the issue any further. In this case, BMFN stated that if I took legal action, they will make a counter claim and...

Original FPA Traders Court Submission: I am submitting the case against: www.bmfn.com My Case is: I opened an account with BMFN in August 2010. I successfully managed to withdraw $6,000 in November 2010 and a further $9,000 in May 2011. However, when I attempted to withdraw a further...

In order to move this forward, I will be filing a case against BMFN via the trader's court. If BMFN still play hardball with FPA then I will take legal action against them to get my money back.

Thanks Rahman, I have emailed Noah to make him aware of this thread.