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

baddog4x

Dishonorably Discharged
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I am pretty sure this is the motel where eaglefx.com has registered as its address.

eaglefx.com is one of the bigger advertisers here at fpa.

obviously, fpa is a straight up bucket shop.. and i want to promise you that bucket shop = you gonna lose yo money... they might process some withdrawls, but it is an exit scheme... AND FPA ACCEPTS THEIR ADVERTISING DOLLARS?

OMG.

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I am pretty sure this is the motel where eaglefx.com has registered as its address.

eaglefx.com is one of the bigger advertisers here at fpa.

obviously, fpa is a straight up bucket shop.. and i want to promise you that bucket shop = you gonna lose yo money... they might process some withdrawls, but it is an exit scheme... AND FPA ACCEPTS THEIR ADVERTISING DOLLARS?

OMG.

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@FPA Forums Team @FxMaster - your attention here please
 
Instead of screenshotting something from BabyPips as proof, you should double-check the information first.

If you search for "8 Copthall, Roseau Valley" in Google, two of the top results are Villa Copthall and the Roseau Valley Hotel. If you click on those results, you'll see those 2 hotels are not at the same location. Villa Copthall's address is only listed as Roseau, Dominica. Roseau Valley Hotel's address is 8J6Q+6W4, Roseau, Dominica.

You should also see a company called Caribbean Citizenship Program. That company is located at 8 Copthall, Roseau Valley Click that and look at the map. It's not in the same building as either hotel.

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Google returned over 15,000 results when I searched for "8 Copthall, Roseau Valley". The building at 8 Copthall, Roseau Valley seems to have an offshore company registration service. Many companies have registered offices in other countries. Some companies using the 8 Copthall, Roseau Valley address may be scams. Others are honest companies.

Using an offshore registration does not make a forex broker a bucket shop any more than having an address on Wall Street makes a forex broker ECN

So far, EagleFX has a good record in the reviews. EagleFX is not tagged in any Scam Alerts threads. If you have had an issue with EagleFX, leave a review and get a thread opened here in Scam Alerts. If you have an idea about how to support the FPA without advertisements or charging members, please let me know.
 
Instead of screenshotting something from BabyPips as proof, you should double-check the information first.
nope.

(a) i am the party that posted that stuff, lol..

(b) i spent hours and hours and hours trying to locate this company.

So far, EagleFX has a good record in the reviews.

this is absolutely NOT an indicator that eaglefx is NOT a bucketshop.

A bucketshop can operate for years and years and it can process many withdrawl requests and people will think that the company is legit.

CASE EXAMPLE: BERNARD MADOFF

Bernie madoff operated the largest known ponzi scheme in history, amassing tens of billions of dollars of capital.. HE WAS NOT PROCESSING THE TRADES FOR HIS INVESTORS.. HE WAS INSTEAD LIVING ON THEIR MONEY.. HE HAD THE HOUSE UP IN THE HAMPTONS AND THE TWENTY MILLION DOLLAR PENTHOUSE IN MANHATTAN..

BERNIE WAS RUNNING A BUCKET SHOP.

Check this out: BERNIE HAD GREAT REVIEWS.

Reviews dont mean anything.

 
EagleFX is not tagged in any Scam Alerts threads.

this has absolutely no bearing on anything as to whether or not this eaglefx is an upstanding broker or if it is a criminally minded ponzi/exit scheme.

i am quite able to explain this.

if you wouldnt mind, i would like to invite two companies into this thread...

1) eaglefx.com

2) forex.com

i can just as easily send a link via their website's chat functions, and then they can refer their people to check this..

kind regards.

youtu.be/StT8I7sa1f4
 
The address is not the hotel. You've posted an incorrect assertion that EagleFX is in a hotel on at least 2 forums. I suggest you add an update at BabyPips to let people know about this mistake.

The address that EagleFX uses doesn't prove whether or not it's a bucketshop. Your mention that Bernie Madoff was in a Manhattan penthouse supports the fact that an address is not a sure sign of being a scam or being honest.

Bernie Madoff was running a Ponzi scheme. That requires a continuous flow of new deposits. Bernie Madoff kept his clients happy until the flow of new investment money fell too low to support withdrawals. Long before that happened more than one person on Wall Street was sounding the alarm about how his investment plan was running exactly like a Ponzi scheme.

A typical forex broker is unlikely to have enough new deposits coming in to pay off all withdrawals like a Ponzi scheme does. Nearly all Ponzi schemes are passive investments, not brokers with active traders. A failing bucket shop can turn into a Ponzi scheme near the end, but isn't automatically a Ponzi scheme. Look up what a CFD is if you want to see how bucket shops function.

Reviews mean a great deal when they are properly moderated. For example, even if a broker managed to slip fake positive reviews in at the FPA, they have no ability to prevent negative reviews from appearing or to make even one negative review disappear. Someone running a near-perfect Ponzi investment can get good reviews, but those won't last. A broker as a Ponzi will have a much shorter life span than a well-designed investment Ponzi scheme.

The fact that no one yet has filed a Scam Alert for a trading issue with EagleFx doesn't mean no one ever will, but I do consider this to be an indicator that they aren't very likely to be operating a deposit-only scam. Could this change? Of course. Even the best companies under tight regulation can turn bad. There once was a Swiss regulated broker that suddenly stopped processing withdrawals while still accepting deposits. There once was an American broker that fooled the NFA into accepting forged bank statements to cover up the theft of client funds. This doesn't mean that every broker will keep all client money or steal client funds and hide that with fake bank statements.

Being suspicious of any broker before opening an account is reasonable. Declaring a company to be guilty of scam until proven innocent isn't. Do you have a standard for evidence a company isn't actively scamming clients? Bernie Madoff could have invited you into his Wall Street offices and showed you the same fake trading records he provided to the regulators. If no evidence is enough, what possible response could EagleFX or any company give you that would make you certain that no scam is happening? Should I just save us all some time and mark every company in the reviews as a scam?
 
so far, i have explained what it is for a broker to operate as a bucket shop, which means that they are betting on the fact that OVERALL their traders(combined, as a group) will lose money...

if i begin with a million dollars on deposit and my traders(as a whole) lose 20% of that, AND I WAS NOT ACTUALLY PLACING THEIR TRADES EITHER ONTO THE BANKING PIPELINE OR AT LEASE MATCHING THEM UP WITH OTHER IN HOUSE TRADERS THAT ARE BETTING THE OPPOSITE DIRECTION... THEN IF THEY LOSE 20% OVER ALL...

I CAN, AS A BUCKETSHOP BROKER, I CAN PUT THAT 20% DIRECTLY INTO MY POCKETS...

NOW, HERE IS THE REALLY DANGEROUS PART OF TRADING THRU A FLY BY NIGHT BROKER THAT ISNT REGULATED... FOR ALL YOU KNOW, YOU DONT EVEN KNOW WHO THEY ARE... THEY COULD HAVE ESTABLISHED THE ENTIRE COMPANY USING FALSE DOCUMENTS/IDENTIFICATION, ETC, AND THEY WOULD HAVE THE ABILITY TO SIMPLY CLOSE THEIR DOORS AND TO STEAL ALL OF YOUR DEPOSITS AND YOU AS A TRADER WOULD HAVE ABSOLUTELY NO WAY TO EVER GET YOUR MONEY BACK..

RUNNING AN OFFSHORE BROKERAGE IS THE MODERN WAY TO RUN A PONZI SCHEME AND NOBODY GOES TO JAIL.

THIS HAPPENS FREQUENTLY... HOW MANY TIMES DO WE HEAR PEOPLE SAYING THAT SUCH AND SUCH UNREGULATED BROKER IS BEGINNING TO NOT PROCESS WITHDRAWLS...

YUP... THAT IS WHAT AN EXIT SCAM SOUNDS LIKE..

WHEN THEY PERFORM THE EXIT SCAM, MAYBE THEY HAVE FIVE OR TEN MILLION DOLLARS OF TRADERS FUNDS ON DEPOSIT.

RUNNING AN OFFSHORE BROKERAGE, EVEN A FAILED OFFSHORE BROKERAGE, CAN BE PROFITABLE TO THE TUNE OF MILLIONS OF DOLLARS.

youtu.be/z0lByEmGkkU
 
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