FPA Advertising...Buyer Beward?
I think that FPA should not allow any of these compnies to advertise on their site. For example, FXOPEN is all over the FPA site and I came close to opening an account with them. Being on FPA's site gives these companies an implied OK and credibility from FPA. FPA should revamp their advertising policy and not allow nonregulated (CFTC) companies to advertise.
I agree, James. I know the reality is that if a media entity allows someone to advertise, there is no official endorsement represented. It's paid media "formally" independent of the website, magazine, TV network, etc. So, while we understand that an ad which appears on CBS isn't an endorsement for that product on behalf of CBS, there is still a set of standards and practices used by networks like CBS and other TV networks, major magazines, newspapers, etc. that prohibit certain advertisers from appearing for exactly the concern you express...implied endorsement. (The latest legal precedent was Craigslist being held accountable for prostitutes advertising on their site. No implied endorsement at all from Craigslist, but they were subject to legal action because they facilitated promotion of unlawful activity. The same could be said if FPA allows known frauds to advertise on their site.)
Given the credibility and trust we place in FPA, I'm surprised to see some of the stuff advertised on here. I wrote a book on my own trend identification methodology for day traders. I sent a free copy to the advertising department for review and requested the opportunity to purchase banner ad space to promote my book (Trajectory Forex by J.A. Sparks on Amazon by the way
, but I was told there was a six month waiting list to buy a banner ad. So the topic is a genuine one. A lot of people trust FPA, and everyone with anything to sell related to forex from broker services to books to EA's and whatever -- it's widely known that just a banner ad on the widely respected FPA site inherently creates credibility. I would contend that puts a burden of responsibility on FPA, even though we'd have to cut them a bit of slack to the extent that its impossible to predict which brokers may suddenly fall victim to lawsuits or what products/books or whatever may or may not be trustworthy. Then again, with a website as widely read and deeply trusted as FPA, there comes some good faith responsibility.
I understand the waiting list for banner ads...FPA has a loyal following. But when there's a population of less than trustworthy advertisers on the site, you have to question standards and practices. Cause it's not like FPA has any difficulty selling their ad space. My expectation would be that they refuse advertising from less than credible sources, and that would include me and my own book if deemed questionable. That's why I sent a free copy when I inquired about banner ad space. I also note that I have a no questions asked refund policy if the book is too complex for people to implement. I actually expected a standards and practices review before permission to advertise my book. Instead, they simply told me about the six month waiting period to buy a banner ad.
Forex is too ripe with scam artists already. FPA is one of the few places traders can go to find trusted information. It's a reasonable assumption that FPA would have some nature of standards and practices that would preclude questionable advertisers from appearing on the site. I can't bust the chops of anyone behind FPA too harshly, honestly, because it's somewhat unreasonable to hold them to such high standards. Then again, high standards are what this is all about, right? We come to FPA with the expectation that the content here is trustworthy.