Easy test to reveal scammers

[Albert.b]

Have you read the FPA case against FxOpen?

You mean that case dated 11-Feb-2009 (2 years ago) brought by “Tradingsmart”?
If you are referring to that case, yes I did read it.

However on 15-June-2009, the FPA issued a statement:
“We the members of the Scam Investigations Committee of the Forex Peace Army have deliberated on all the evidence available to us and have reached a conclusion. It is our opinion that...
FPA's investigators have dealt with FX Open's representative before. He has always been honest with the FPA, even in cases where this has cost FX Open money….
…..a combination of age of the case and lack of solid evidence to prove or disprove cheating by either side means that this issue can only be resolved by an official legal or regulatory inquiry…..
We regret that we cannot make a final determination.”

Frankly, NO, I do not have less confidence in FxOpen being legitimate & trustworthy after reading that case since the verdict is none conclusive.
Additionally, I have not read any more similar case since then and also all the cases that I have read here at the FPA and from other FxOpen clients in their web site forum have been settled amicably.
Most cases that I have read are impatience Newbies shouting at their top of their voices of late payments which were not banked into their account due to none business days. In almost all of these cases, the Newbies normally posted back apologizing for their impatience and inexperience in such matter.

I think my "defense" of FxOpen sounds like I am an IB or Rep of FxOpen. I am neither of that, but just a regular client.
I am just stating it like it is and how I perceive FxOpen as a forex Broker.

Maybe my opinion of FxOpen might change in the future....but that will only come about after I've experience some "funny business going on" in my trading account with them. But so far, so good!

I hope you are right and all is OK in all your dealings with FxOpen!

However the old saying 'better safe than sorry' jumps to mind!

So I think, from now on, I will be following Andrew's sound advice to the letter!

 

[fxfrench]

Have you read the FPA case against FxOpen?

Are you as confident now about their dealings with clients who make good profits?

If you are talking about traders who took advantage of deficiencies in the MT4 platform (now mostly fixed) in the past, yes we did take actions to protect the company from exploits resulting in non market fills, dealing desk arbitrage exploits and other scripts and hacks that damaged the dealing desk position. We did so legally, and rightfully.

That said however, I would like to point out that since mid 2009 when we introduced our ECN system, traders using exploits are caught out much earlier and asked to move to an ECN account, or leave FXOpen for another broker.

FXOpen will not delete legitimately filled positions.