Pharaoh
Brigadier General
- Messages
- 20,308
I've seen some of the documents in this case. I need more time to go through them, but one thing stands out right up front. FXDD claims that if they have a spread where the last digits (4 digit, I presume) are 1 and 4, that somehow the evil manipulation software magically injects prices allowing trades with a narrower spread (2 and 3).
If such a thing is possible (which I highly doubt), the blatantly obvious solution would be a simple matter of fixing the vulnerability on FXDD's end to prevent this from happening again. Despite this, FXDD's guy whines on and on about how "irreparable harm" will be caused to FXDD since this alleged software could be passed on to more traders.
If FXDD really is so utterly helpless to prevent prices from being manipulated, that alone sounds like a very big reason to not trade there.
If FXDD is making this whole thing up as an end-run around NFA regulations, that would be a reason for all clients to start seeking another broker.
Please reread the entire thread very carefully. Any possible lawsuit in this case would be directed at getting money owed to traders (plus legal costs and reasonable penalties), not at taking all the money inside the company.
If such a thing is possible (which I highly doubt), the blatantly obvious solution would be a simple matter of fixing the vulnerability on FXDD's end to prevent this from happening again. Despite this, FXDD's guy whines on and on about how "irreparable harm" will be caused to FXDD since this alleged software could be passed on to more traders.
If FXDD really is so utterly helpless to prevent prices from being manipulated, that alone sounds like a very big reason to not trade there.
If FXDD is making this whole thing up as an end-run around NFA regulations, that would be a reason for all clients to start seeking another broker.
Dear Sir,
I understand your frustrations. But please consider all the other innocent FXDD traders that if FXDD is sued out of business, that these traders could/will lose all their money as well. Please consider the impact on the entire trader base if such actions are carried out.
Sincerely,
Mrf1962
Please reread the entire thread very carefully. Any possible lawsuit in this case would be directed at getting money owed to traders (plus legal costs and reasonable penalties), not at taking all the money inside the company.