CFTC Sues 14 Forex Companies

[AsstModerator]

Some of the companies on the list that had few or no US clients are now blocking US IP addresses.

I'm waiting to see how some of the ones that have a large number of US clients react.

 

[Czechdaytrader]

Regarding FX Brokers

US Goverment see the money floating off shore and retail is a huge part of it. This is i suppose first step to many(Already active) in plan of CFTC and other regulators. I am suspicious ,that targeted companies are not being just taken out by the US gov for what seems to be "small thing".
I am not saying some of the Brokers and IBs on the list are the scam , but there is obvious suspicion . And i would advise to stay out of them (as i always do) and better keep profiting with major names,although there is never assurance of such. As well as there is really not the BEST broker, They are only the better ones in bettween the bad ones .

Hope everyone has only the good experience and this way it will continue

 

[^eagle^]

I have a few questions.....
If these brokers have broken laws why are they being SUED instead of being tried by jury? Who is the injured party?

IF they had broken laws you would think there would be fines and prison time. Looks like the CFTC is trying to set precedence in the courts because until then they have no legal leg to stand on.


We have the ability to fight unjust laws.
Fully Informed Jury Association Fully Informed Jury Association. a non profit organization.

Sometimes you gotta stand up even if no one else will.

This is the only way we will take back America and get rid of unjust and unconstitutional laws.

 

[RahmanSL]

The CFTC probably would had preferred to simply going over to these Brokers' offices and said: "Naughty Broker! You should be ashamed of yourselves"...slap them on their wrist, go back to their office and promptly issued a show case letter asking them to "please" write back to state why the CFTC should not imposed a harsher penalty...like squatting at the corner of their office with both hands pinching their ear lops.

Trials in a Court of law with juries?? Naahh, too much trouble, time, and a waste of public funds. Suing these "naughty" Brokers is much better as it confused the public as to what exactly do these "naughty" Brokers owe the CFTC in the first place that they can initiate a "sue procedure".

 

[hyper]

FIG Solutions Limited, Inc., a Delaware corporation;

I'm not surprised to see such a bad-boy borderline scam broker on the list. I'd advise any existing clients to withdraw their funds immediately.

 

[^eagle^]

There is a thing called civil disobedience. What we do is as a group go to off shore brokers openly and become affiliates for them. Im looking at the wording and trying to find the difference between an affiliate and an IB. But my guess is if you just have a banner on your website are you advertising or soliciting? Two very different things. But I am interested on peoples take as to where is the line from being an IB as opposed to an affiliate. IN the meantime I suggest civil disobedience. Take your money off shore even if the rules do not change your way of trading. I personally don't care too much about the leverage but FIFO just plain sucks.

Why is the CFTC SUING those companies? Simple......
There is no LAW so they are TRYING TO SET PRECEDENCE!

I'm no lawyer but if these brokers were actually breaking laws they would be TRIED in a court of law and fined and imprisoned not SUED. WHEN YOU ARE sued THERE HAS TO BE AN INJURED PARTY. WHO IS THE INJURED PARTY?!!!!
The whole thing stinks. They are using the courts again to circumvent the laws

Fully Informed Jury Association
Fully Informed Jury Association. A non profit organization
This is our last stand against a Government gone wild.

 

[rey21]

FxOpen can't register since they offer:

1. Forex Hedging
2. Upto 500:1 Leverage

Two things that the CFTC is trying to stop for USA Forex brokers. The CFTC caused IamFX to shut-down for these reasons I believe, and I had to exit IamFX to FxOpen in order to continue to benefit from these two important trading features.

FxOpen has one major problem that i don't like - Its' International Bank Wire withdrawal process. Have been waiting over 7 business day and still have not seen my funds yet. They have communicated with me that their bank needed more information to correctly process my request. But, their On-line form does not allow users to provide all the information they later requested of me by email.

I'm still waiting for them to provide me with a Clear set of instructions so the next time they get all the information needed to process my withdrawal.

 

[SAMMYFX]

Hello Fxopen What's Your Crime?

 

[Adam Wyn-Roberts]

Where are FXOpen?

1. Forex Hedging
2. Upto 500:1 Leverage

Two things that the CFTC is trying to stop for USA Forex brokers. The CFTC caused IamFX to shut-down for these reasons I believe, and I had to exit IamFX to FxOpen in order to continue to benefit from these two important trading features.

FxOpen has one major problem that i don't like - Its' International Bank Wire withdrawal process. Have been waiting over 7 business day and still have not seen my funds yet. They have communicated with me that their bank needed more information to correctly process my request. But, their On-line form does not allow users to provide all the information they later requested of me by email.

I'm still waiting for them to provide me with a Clear set of instructions so the next time they get all the information needed to process my withdrawal.

My live account is frozen, and the website has disappeared ....

Oh Oh :unhappy:

 

[prosperousdreams]

My live account is frozen, and the website has disappeared ....

Oh Oh :unhappy:

Same here!! All open trades were closed. My balance is still available, but won't let me withdraw.

What is going on FXOpen? No notice or anything.