USA Citizens residing in Communist America cannot open an account
I went and looked a their website and they appear to be an honest broker.
But I was unable to open an account because I live in Socialist America.
Best of wishes to them and other traders around the world.
Sieg Hiel to the NFA, CFTC, and SEC
So true. I remember reding on some brokers website you can still open an account with them even if you are an American living in the good ol...er I mean now poor new US of A. Just as long as you have around $150,000,000 so it seems (your) government loves you after all...if you happen to be one of the elite. If the European Union had their way we would have similar problems only caused by terrible obscene tobin tax.
This Company is a fraud!!!
I have opened an account with FXSystems which is a Forex trading company. According to their website their regulators is Nevis financial Services. Although after contacting them, they said that this company is not regulated under Nevis Financial Services and that I should address this issue with ECSRM.
Please see below my complaint against this company.
I have recently opened an account to trade FX with FX Systems and 1LotStP which according to their website Nevis Financial Services is their regulators.
I have made numerous trades with the account and gained a lot of money. I took some high risk trades (due to the fact that they gave me a welcome bonus) and also some smaller trades!
After almost more than a month of trading, and gained some profit, I decided to make a withdraw.
I requested 60% of the total equity to be withdrawn! Keeping some money in to keep on trading with the FX Company.
After a week of waiting for the money I received an Email from the Company that My account has been suspended for more than 3 months!!! and will be evaluated under arbitrage suspicion.
I have contacted the company and they would not reply to my ticket that I have opened for the first 15 days! I also sent them emails etc. and nothing. Recently and after a lot of emails and online discussions with customer support they told me that they would either give me initial deposit and not evaluate my account! or I will have to wait for 3 months for them to have their results, and can lose my initial deposit as well!!
I have asked them a series of questions of how would I arbitraging the bonus If, according to their term and conditions, any withdrawal request I make, I would be losing the bonus? I left more than 40% of the total Equity inside the account to keep on trading!! If they do not want traders to trade on high Risk then they should change their maximum leverage!
They would not reply to me, and basically blackmailing me in a way that If I do not accept to close my account and return my initial deposit I might lose everything based on their "evaluation"
After "evaluating" my account they came to the conclusion that "you were using arbitrage to predict the outcome of future trades. Therefore, as is our legal right, we will return your original deposit and close your account"
I have replied to them to tell me what do they mean and provide me with any proof or any information that I used my account for arbitrage, since what I did was just to trade, and they will not reply to me.
I can provide you with any information or details that you require, since I have saved all my trades before them closing my account!
"Dear Charis Theocharus: Please be advised that FX Systems is not a registrant of the Eastern Caribbean Securities Regulatory Commission (ECSRC). By copy of this email this matter is being referred to the national regulator on Nevis."
I just checked 1LotSTP and they looks good. The only thing is that if they are regulated? I didn't find any info about regulation on there page.
I opened my first ever Live account with 1LotSTP.com on 10 December.
Its still less than a month but I am posting the update to let you know that I am very happy with this broker. They provide me one of the best VPS for free because of my account balance which is 5000 USD. They cover the 10 dollars bank transfer fee. I got 100 dollars margin bonus which is a tradable bonus.
Their trade execution speed is awesome. No slippage or re quotes till today. The support staff is great and very helpful. I have provided my own dedicated personal manager. She is very very helpful. I got my daily trade report and also daily technical analysis and trade suggestions. Their spread is a bit high but they are true STP NDD so that is not a problem for me. There are many brokers who claim that they are true STP but in fact they are not. A true STP broker must have high spreads than other brokers for obvious reasons.
I am very happy. I will keep updating you about my progress with them on monthly basis
I have opened an account with 1LOTSTP broker two months back and I am happy client with them so far. This broker seems good and has fast execution . I faced no problem with them withdrawing my first profit. So I would recommend this broker to other traders.
1LotSTP is a scam. I am figuring out what to do to get my money back. I will probably file a lawsuit. Please help me if you have any information. It seems that the company is held by integral (integral.com). I am investigating the company.