Another Crazy One - brokers operating from hotels is A-OK. (First from Babypips, then the OP spread it around)

AsstModerator

FPA Forums and Reviews Admin
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5,681
Please see about getting your CapsLock key serviced.

Ponzi scheme is not a generic word for financial scam. A Ponzi scheme is not the same as a market maker or a bucket shop. I have seen a few brokers cross over into Ponzi schemes, but that is very rare. Please read this article if you want to try to understand what a Ponzi scheme is and isn't...

Ponzi Schemes and HYIPS-Free Money Traps

Market maker brokers may or may not hedge their net positions against an LP. Those that never hedge are better described as bucket shops. In the UK, these are called Spread Betting brokers. Since many traders are really gamblers who throw away money, even a pure bucket shop can usually make a profit without resorting to cheating. You should also be aware that more than one ECN broker has been caught cheating on trades.

Regulated and unregulated brokers have scammed traders and disappeared. Only a few regulators try to recover some or all of the money. The FPA does issue warnings about HYIPS and obvious Ponzi schemes, but only warns against brokers based on the actions of those brokers.

You still haven't set a standard for what address, country, and regulator you would find acceptable. Should I add a note to all broker review pages saying "WARNING: FPA Member baddog4x says this is probably a scam and is ready to TYPE IN ALL CAPS to prove it!"?
 

baddog4x

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i read somewhere on your site that just because a company pays for advertising doesnt make them immune to being questioned.

eaglefx is one of your major advertisers and i was hoping to have the opportunity to ask them a few questions in public here.

btw, my caps lock key is now fixed.

also, it is my desire to ask questions of this brokerage(eaglefx), not you.

if that is not acceptable for you, that is fine with me.

have a wonderful day.
 

baddog4x

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i have been coding since 1983, my first programming language was atari basic on an atari 400.

i wrote basic code for about six months, and then i learned to write atari assembler, but it was too cryptic and not portable to other machines.



in 1991, i purchased my first C language IDE, the Microsoft QuickC for DOS, and i have been coding C ever since.

my preference is to write C on a linux box using GCC at the shell, but i can also use GCC on a windows box that is available as part of the codeblocks IDE.

i am experienced with interfacing with quite a few different API’s…

i have written extensive code in C for the dialogic telephony boards… in 1992, i plugged 16 telephone lines and eight telephones into a 286 pc clone and i fully automated an eight station outbound telemarketing room. My code processed the status of all sixteen telco lines and all eight telephones approx one thousand times per second.

I have written assembler code on a pic chip clone to interface with the USDIGITAL A2T tilt sensor.


i have written assembler code on a pic chip clone to interface with standard RC servos.

i am intimately familiar with the programming of servos.

https://www.google.com/search?q=rc+servo 1

I used to enjoy developing custom websites in C language using a linux box. I have written such code in C that is as large as 25,000 lines long.

I enjoy the arduino line of controllers.


I have been writing metatrader 4 code since metatrader was first released back around 2005.

I have been working on the development of a trading bot since may of 2004.

 

baddog4x

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assuming that this review(coinexx) is a legit review(which it may or may not be), this is typical of what a bucketshop looks and smells like when they begin to blow up...

when they arent really processing your trades, and then someone comes in and tries to make a sizeable withdrawl, they simply dont have the money to pay out... (kinda like what happened to bernie madoff)..

coinexx1.png


btw, one of the primary reasons that i study these ponzi/bucket/exit scam issues is that it is my intent to establish a brokerage..

have a nice evening.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,681
If someone has a serious issue and the company doesn't address it, those people are welcome to present information and evidence in a Scam Alert thread dedicated to the issue. Some reviewers do, some don't.

Any company, advertiser or not, can be questioned. Accusing a company of being a Ponzi and a bucket shop over a mistake about an address caused by Google showing 2 nearby hotels in a search is not a very good way to open an argument. You questioned the FPA allowing a broker to advertise, so I believe I am more than justified in replying in this thread. Any FPA member who has a relevant comment may reply here.

I'm hoping to see how you will have your broker defend itself against misperceptions caused by Google. I'd also like to see how your broker will be able to absolutely prove it is not a Ponzi scheme, a bucket shop, or is possibly planning to suddenly disappear with client assets.
 

baddog4x

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the first thing that i am trying to figure out is where is this company located..

their website gives this address:

eaglefx.address.png


and when i search for that address on google maps, it says it is a hotel:

screenshot.jpg


is this brokerage registered to this address, which appears to be a hotel?
 

baddog4x

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when i checked the whois for eaglefx.com, everything was hidden and their website is one of those $12/month sites at godaddy.

but check this out... this is what a legit regulated brokerage looks like on whois...

Domain Name: forex.com
Registry Domain ID: 307440_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.corporatedomains.com
Registrar URL: www.cscprotectsbrands.com
Updated Date: 2021-06-24T05:52:43Z
Creation Date: 1997-06-22T00:00:00Z
Registrar Registration Expiration Date: 2029-09-03T23:03:15Z
Registrar: CSC CORPORATE DOMAINS, INC.
Sponsoring Registrar IANA ID: 299
Registrar Abuse Contact Email: domainabuse@cscglobal.com
Registrar Abuse Contact Phone: +1.8887802723
Domain Status: clientTransferProhibited http://www.icann.org/epp#clientTransferProhibited
Registry Registrant ID:
Registrant Name: Domain Administrator
Registrant Organization: StoneX Financial Ltd
Registrant Street: Moor House First Floor 120 London Wall
Registrant City: London
Registrant State/Province: ENG
Registrant Postal Code: EC2Y 5ET
Registrant Country: GB
Registrant Phone: +44.2035806000
Registrant Phone Ext:
Registrant Fax: +44.2035806001
Registrant Fax Ext:
Registrant Email: Webops@GAINCapital.com
Registry Admin ID:
Admin Name: Domain Administrator
Admin Organization: StoneX Financial Ltd
Admin Street: Moor House First Floor 120 London Wall
Admin City: London
Admin State/Province: ENG
Admin Postal Code: EC2Y 5ET
Admin Country: GB
Admin Phone: +44.2035806000
Admin Phone Ext:
Admin Fax: +44.2035806001
Admin Fax Ext:
Admin Email: Webops@GAINCapital.com
Registry Tech ID:
Tech Name: Domain Administrator
Tech Organization: StoneX Financial Ltd
Tech Street: Moor House First Floor 120 London Wall
Tech City: London
Tech State/Province: ENG
Tech Postal Code: EC2Y 5ET
Tech Country: GB
Tech Phone: +44.2035806000
Tech Phone Ext:
Tech Fax: +44.2035806001
Tech Fax Ext:
Tech Email: Webops@GAINCapital.com
Name Server: ns1-04.azure-dns.com
Name Server: ns4-04.azure-dns.info
Name Server: ns2-04.azure-dns.net
Name Server: ns3-04.azure-dns.org
 

baddog4x

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46
My chat session with eaglefx.com

Ashton 23:16
Hello. How may I help you?
Good evening Tom, I hope you are well today.

tom peterson 23:17
hi, we are trying to figure out where your offices are located at...
when we lookup your address on google maps,
it shows us that your address is a hotel.

Ashton 23:17
Our registered address is
EagleFX Ltd, 8 Copthall, Roseau Valley 00152, The Commonwealth of Dominica.
This can be seen at the footer of the EagleFX home page, in the link below:

tom peterson 23:18
hi, we are trying to figure out where your offices are located at...
when we lookup your address on google maps, it shows us that your
address is a hotel.

Ashton 23:18
Is there anything else that I can assist you further with today?

tom peterson 23:18
is your registered address a hotel?

Ashton 23:19
Please note I have just given you our address.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,681
Google is presenting it as nearby hotel, but the address does not match the company registration for EagleFX

Copthall3.png


8J6Q+6W4 does not equal 8.

The Caribbean Citizenship Program is at 8 Copthall.

Copthall1.png



Closing that panel allows more of the map to be seen.

Copthall2.png



Do you see the Caribbean Citizenship Program on the map? down and to the left and you can also see the Roseau Valley Hotel, which not only is at 8J6Q+6W4 instead of just 8, but is also in a different building.


Do enough whois searched on regulated financial institutions and you'll find others that have private registrations. Newer privacy rules are even shielding the information of many more websites that don't pay extra for domain privacy. I check whois on financial websites every day and it's been getting harder and harder to find contact publicly posted on whois. Even the public information in whois or on a website may be only be forwarding address or a remote office the company pays an annual fee to maintain. Should I arrange for an FPA helicopter to drop a combat auditor on every address claimed by all forex brokers just to be sure if the address is really the main office and declare them to be scam if it isn't?
 

baddog4x

Dishonorably Discharged
Messages
46
ok, so it seems that locating this company's physical address is a bit of a challenge, which means that when they go belly up absolutely nobody will have any recourse.

when this eaglefx.com company fails, say good bye to your deposits.
 
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