Class action lawsuit launched against FXCM for fraud and racketeering!

[Nerdie]

I hear crickets......

Chirrup, chirrup - (more crickets....)

Widespread dirty broker behaviour does not make it OK in my book.

Where are the regulators?

Maybe they don't have the expertise to pick the clever tech stuff going on?

Could someone "out" the clean brokers too please?

Hmmmm.... the software sold and used by Apple Investment Company around the world is actually an FXCM product, Fx Calibre. A lot of traders lost their money following Apple Investment Company's instructions and settings. No doubt it's still going on if Apple Investment Company in the US are still using it to teach traders. Can someone find out if they're still operational? I've written to them but got no reply.

Did FXCM put one over Apple Investment Company too?

So, in other words, the Apple Investment Scam may really be the FXCM software scam?

This is the US Apple Investment Company contact details - could someone please pay them a visit and see if they're really there? They didn't reply to my fax or email.

Apple Investment Company Ltd.
Level 11, 48 Wall St.,
New York,
NY, 10005, USA

File Number: 4271967

USA
Tel: 212 918 4952
Fax: 212 918 4801
International
Tel: +1 212 918 4952
Fax: +1 212 918 4801

 

[Pharaoh]

If Apple made the claims, then they are liable no matter what the source.

It's similar for a lot of EAs. A company buys one from some programmer in India or Eastern Europe, and then claims that it's written by some fictitious guy who discovered the holy grail of forex after working as an institutional trader for 20 years. The source was only paid for an EA. The seller is the one pushing the returns and collecting the cash.

It still would be worth checking with FXCM to see what level of involvement they had with this. At minimim, they need to post something disowning those profitability claims made by AppleInvestmentCompany.