fpa scam finding

  1. Scam Investigations Committee

    Stalling for Dollars

    Stalling for Dollars Imagine your broker waits weeks or months to cancel trades you've made. Then, you complain and get nowhere. The FPA steps in to help. The broker takes even more time, claiming they need to re-examine trades. They claim to have evidence of deliberate cheating that will...
  2. Scam Investigations Committee

    Reallocation of profits and other strange activities

    Reallocation of profits and other strange activities A reviewer left a review on July 12th 2009 about some NFA issues with CFS Capital Management. One of the review moderators sent it over to the Scam Investigations Committee. At first, our investigators weren't sure how serious it was. The...
  3. Scam Investigations Committee

    Grand Theft EA III

    Are you ready to waste $87 of your money on an EA that's free? If not, keep reading. We've seen solid evidence that another commercial EA is just an illegal copies of a free EA FPA reviewer Robert Morton left a review on June 5th 2009 saying that he knew that the expert advisor from...
  4. Scam Investigations Committee

    Trade results so fake that they are almost funny

    Forex companies love to exaggerate the success of their products. A lot of them include what they claim are live trading statements from happy customers. In this case, the results are so incredibly fake that they are almost funny. FPA member PiPsAddict filed a scam complaint against...
  5. Scam Investigations Committee

    Grand Theft EA II

    How would you like to pay a LOT of money for an EA and find it's just another EA with some of the settings changed? How would you like to pay for an EA and find it's just an overpriced clone of another EA? We've seen solid evidence that 2 more commercial EAs are just illegal copies.. The EA...
  6. Scam Investigations Committee

    They Call Themselves True, But They Don't Seem Very Truthful

    Forex companies exaggerate a lot. You already know that there can't be 100 different “best forex trading systems in the world”. Who would buy a product that advertises itself as “an OK forex system”? Some exaggerations are to be expected, but some lies qualify as scam. FPA member Oriana...
  7. Scam Investigations Committee

    Big, Swiss, and Bankrupt

    Crown Forex SA used to be a solid and well regarded broker. Sometime last fall, withdrawals became a huge issue. Over a dozen FPA members complained and FPA Investigator Tessa spent a large amount of time communicating with Crown Forex over the issue. After a great deal of effort, some people...
  8. Scam Investigations Committee

    Grand Theft EA

    How would you like to pay for one EA and find that what you get is an overpriced and illegal copy of another commercial EA? Worse, how would you like to pay good money for an EA and find it's an illegal copy of a free EA. That's what two of the newest EAs on the market seem to be – pirated...
  9. Scam Investigations Committee

    The Next Word In Account Mismanagement

    Rizwan Awan had a great website for Next-Consultancy. His company, Next Consulting Ltd, claimed he had solid returns, that the initial capital would protected, and that money could be gotten back quickly. About a year ago, one of his clients complained to the FPA that withdrawal requests...
  10. Scam Investigations Committee

    Feeling Blue About Forex Losses? These Guys Lost 7 Million of Their Clients' Money.

    Capital Blu Management LLC showed their clients solid monthly returns. It looked like a sound investment. The only real warning sign was that the money wasn't in individual accounts, but in a pooled account. According to the CFTC, while clients thought they were getting those monthly...
  11. Scam Investigations Committee

    Two Traders, Two Companies, One Big Scam

    FPA member Yokebeto is part of a trading group from Japan that has been testing out an EA. FPA member Mr. Madruga is from Brazil and was doing his own trading not linked to Yokebeto's group. We've seen him on another forex forum before he joined the FPA. What the two of them have in common...
  12. Scam Investigations Committee

    Account Managers or Pirates of the Caribbean?

    Patrick Gallager and Mike Kritch of International Foreign Currency seem to have disappeared somewhere in the Caribbean. We already knew that Kritch liked to vacation there, but it looks like he may have decided to not come back after all the complaints lodged against him by some of his clients...
  13. Scam Investigations Committee

    Account Managed to Death

    FPA Member Carol Day had what she thought was a great account manager. Her account with 4xMaster went from about $48,000 up to around $110,000. At this point, she was happy to pay a performance fee of just under $19,000. Then something went terribly wrong. In 2 trading days, her account...
  14. Scam Investigations Committee

    Another Sure Investment Gone Amuk

    Imoktrade looked like another safe and sure investment. The initial investment was guaranteed. The return ranged from 3.1% per day up to 5.1% per day. For the record, the higher the return, the higher the risk. Anything paying 3.1% per day is going to be very risky. Any company offering...
  15. Pharaoh

    Two Frauds Combine Into One New Variety of Scam

    Two Frauds Combine Into One New Variety of Scam by Pharaoh I think I've got a pretty good handle on the basics of HYIP-style Ponzi schemes that scam anywhere from a few dollars to someone's entire life savings. I understand the concept well enough that I published an article on Ponzi's...
  16. Scam Investigations Committee

    Another Company the FPA is Investigating Faces Fraud Charges

    The FPA was dealing with two investigations of managed forex accounts with Atwood and James. In the first, some compensation promised for mishandled accounts was promised to an FPA member, then not delivered. When the FPA asked to assist in negotiations, Michael Kardonick of Atwood & James...
  17. Pharaoh

    25 Million Dollars Invested in an Easily Avoided Scam

    CRE Capital Corporation wasn't one of those cheap web-based HYIPS. This company had a real office in the US. They wouldn't accept money from individuals. If you wanted in, you had to form your own company and make a contract with them. They even told investors, oops, I mean investment...
  18. Scam Investigations Committee

    A Dead Scam Company Comes Back With A New Name

    We admit it. Everyone of FPA's Scam Investigations Committee loves horror flicks. Part of the fun is that no matter how completely they dismember, shoot, blow up, or incinerate the bad guy, we know he'll be back for another round of carnage in the next movie. Movie nights at Scam...
  19. Scam Investigations Committee

    Two New Managed Account Scams

    Managed forex accounts can be very dangerous. You have to trust the brokerage. You have to trust the managed account company. You have to trust the account manager who will trade your account. If any one of these fails to live up to your trust, you can lose all your money. We've had 2...
  20. Scam Investigations Committee

    Crown Forex loses control

    On December 11th, the FPA sent out an email linking to an article warning traders about some major issues with Crown Forex. We've just gotten confirmation that a week or so later, the Swiss Federal Banking Commission has appointed two investigators to take control of Crown Forex and look into...
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