Problem BroCo account arrested by District judge

[cowmadagan]

I think you mean that 'there is nothing substantial in this discussion.'

Since you're in PR, saying that 'everything people have said here is a waste of breath' is not a good way to represent your company; especially when you're already under scrutiny.

 

[Lenar]

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

By my first answer in this thread you could understand that I work in Broco. And I am not hiding it.
About the difference between Federal and District, you could just google.

 

[released]

There is an obvious fact that we have to mention here and I am sorry if somebodies feelings will be hurt -- that is not my intention. Google Translate is not perfect yet, so most of the time I am guessing about the meaning of the posts by forexjopa and Natalie18.
There must be something important to them in all that geographical details and my best guess is that in her last post Natalie18 tried somehow to discredit me by mentioning 'Indonesian' forum where she posted lies and insulted a user for posting a warning about the court action. The forum is public and does not require to have an 'associate' to read. What I fail to understand is an apparently ironical statement :"What an honour".
I would be quite proud to have such an associate and Indonesia is not worse than any other country in my humble opinion.
But there is something that Natalie18 and her goons repeated so many times in so many ways that it is not a guess any more:
She, an "official response" of BroCo has no clue that District Court is Federal Court, and the only Federal Court in U.S. That gives us an understanding about what kind of "professionals" work in BroCo. That is one illustration of what is behind "reputation"...
Talking of reputation, the only excuse given by Natalie18 et al for the legal action so far is that :$200,000 is not big enough money to "jeopardize their reputation" that miraculously has been established in less than 2 years in business. So let us ask Natalie18 a question, what amount of money she considers to be satisfactory? How much they want to collect from us in exchange for the reputation? Is that what the new margin requirements of 1:500 and new bonuses are for?

 

[ernest8fingers]

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.

Can anyone verify this is true or false?

 

[released]

By my first answer in this thread you could understand that I work in Broco. And I am not hiding it.
About the difference between Federal and District, you could just google.

Why should I google if I have been there. But for those who have not, I'll quote the definition from http://www.uscourts.gov/districtcourts.html:
" United States District Courts

The United States district courts are the trial courts of the federal court system. Within limits set by Congress and the Constitution, the district courts have jurisdiction to hear nearly all categories of federal cases, including both civil and criminal matters. Every day hundreds of people across the nation are selected for jury duty and help decide some of these cases.
There are 94 federal judicial districts, including at least one district in each state, the District of Columbia and Puerto Rico. Three territories of the United States -- the Virgin Islands, Guam, and the Northern Mariana Islands -- have district courts that hear federal cases, including bankruptcy cases. "

You in your earlier post complained: "you[I- released] say Federal court instead District court, you're trying to enlarge the problem by all means". Did I exaggerate in this point? Or could it be that I am right and that is you and other Broco's people are trying to minimize the problem? Your goal is so transparent that I do not even need to spell it here.

 

[Lenar]

Why should I google if I have been there. But for those who have not, I'll quote the definition from http://www.uscourts.gov/districtcourts.html:
" United States District Courts

The United States district courts are the trial courts of the federal court system. Within limits set by Congress and the Constitution, the district courts have jurisdiction to hear nearly all categories of federal cases, including both civil and criminal matters. Every day hundreds of people across the nation are selected for jury duty and help decide some of these cases.
There are 94 federal judicial districts, including at least one district in each state, the District of Columbia and Puerto Rico. Three territories of the United States -- the Virgin Islands, Guam, and the Northern Mariana Islands -- have district courts that hear federal cases, including bankruptcy cases. "

You in your earlier post complained: "you[I- released] say Federal court instead District court, you're trying to enlarge the problem by all means". Did I exaggerate in this point? Or could it be that I am right and that is you and other Broco's people are trying to minimize the problem? Your goal is so transparent that I do not even need to spell it here.

My goal it to protect good name of my company. I'm not sure about yours.

 

[ernest8fingers]

My goal it to protect good name of my company. I'm not sure about yours.

Maybe his goal (released) is to interject some "logical sanity" into this thread? Some Posters sure would benefit from this.

 

[released]

My goal it to protect good name of my company. I'm not sure about yours.

That is an easy one, Lenar. All you need to do is to look at the name of the folder where you are posting :Scam Alerts Folder.
As one of the Broco's employees you wouldn't understand why we are trying to warn each other here, but you could at least notice that "Scam Alerts Folder" is not exactly "Defend the thief's 'good' name online instead of in the Federal Court where their account was frozen."
We who watched biggest in the world investment banks recently going down, who have seen $65,000,000,000.00 fund that existed in a highly regulated country for decades turned out to be nothing but silly fraud, we will have rather hard times to think that a tiny 2 year old Forex bucketshop from Mauritania (I am geographically challenged, so could be wrong on this one) could be worth risking our money even without a Federal case hanging.
That is why this folder exists. We have very limited means to protect our moneys when they are in "Mauritania", so any alarm should and will be taken seriously.
And you can trust me when I say that Broco's "good" name will never be worth risking a penny to me or anyone else except you maybe. There are a few hundreds of absolutely identical or even better Broco's out there.
After all you are widening spreads and hunting our stops on Trader, you did set up a record of 65 pips spread on USDCAD (that I witnessed myself) and are delaying order execution at least for 3-5 seconds on Investor. That leaves only one "advantage"-- you used to return what's left of our deposits. But who can guarantee that this practice will continue? You are on your way down and will easily without any hesitation take your customers with you.

 

[Lenar]

That is an easy one, Lenar. All you need to do is to look at the name of the folder where you are posting :Scam Alerts Folder.
As one of the Broco's employees you wouldn't understand why we are trying to warn each other here, but you could at least notice that "Scam Alerts Folder" is not exactly "Defend the thief's 'good' name online instead of in the Federal Court where their account was frozen."
We who watched biggest in the world investment banks recently going down, who have seen $65,000,000,000.00 fund that existed in a highly regulated country for decades turned out to be nothing but silly fraud, we will have rather hard times to think that a tiny 2 year old Forex bucketshop from Mauritania (I am geographically challenged, so could be wrong on this one) could be worth risking our money even without a Federal case hanging.
That is why this folder exists. We have very limited means to protect our moneys when they are in "Mauritania", so any alarm should and will be taken seriously.
And you can trust me when I say that Broco's "good" name will never be worth risking a penny to me or anyone else except you maybe. There are a few hundreds of absolutely identical or even better Broco's out there.
After all you are widening spreads and hunting our stops on Trader, you did set up a record of 65 pips spread on USDCAD (that I witnessed myself) and are delaying order execution at least for 3-5 seconds on Investor. That leaves only one "advantage"-- you used to return what's left of our deposits. But who can guarantee that this practice will continue? You are on your way down and will easily without any hesitation take your customers with you.

Thanks for your post!
Firstly, let's see the completion of this case. I just don't want stigmatizing of Broco before the actual case end. I'm not thief, noone has right to say this unless and until judge does. Suspect doesn't mean guilty.

Secondly - ok, you can call it tiny in comparison with giants, who are working for dozens of years, but we are growing and constantly improving our services, and we'll get normal license soon. We'll see how it be one-two years later when all other "Brocos" stay behind.

As a trader I understand you and your distrust. But I hope there will be a day, when you change your mind.

About widening spreads and hunting stops, I'm not sure. If you just give the examples or facts, even links from past?. It's not in our company's practise.

 

[forexjosa]

[/B]

Can anyone verify this is true or false?

I think that is the real question that interest to answer by now. All the rest is just street fight with no use.

Let´s wait the end of the case, and meanwhile, please traders answer those 8fingers question, for the sake of all.

Consider my personal experience, my answer is that broco is honoring their compromises until now.

I hope I had help traders with facts and my personal experience. Lets hear the others.

As an update note consider the Broco process, this news come out: http://www.brocompany.com/about-us/news/207.htm

So, I was waiting for the 6 of april to get more data in order to define my position consider this broker, and with this postponed, I will wait until 13 of april. Until then I should not post anymore to this case.