ForexGen (Case 2)

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...

One or more IBs of the brokerage known as ForexGen engaged in two different unethical behaviors. Firstly, false "conversations" were held where one username played the role of a person looking either for information about ForexGen or information about brokerages in general, and a second username came in claiming to have been a happy ForexGen customer for some time. This might have been considered to be a legitimate conversation, but it occurred on many different forex forums at the same time, and the roles were interchanged between usernames frequently, and all the conversations ended in ForexGen advertisements - frequently in violation of the anti-spam policies of the forums involved. No mention was made of any of the participants having an IB relationship with ForexGen until after our member, Pharaoh confronted the primary participant in these conversations (a person known as Alessandro Mateu, aka Alessandro0003msc) here in the FPA as well as in other forums. This is more than sufficient proof that the parties to these artificial conversations were deliberately trying to mislead other traders. Misleading traders in order to try to make a profit is unethical by the standards of the Forex Peace Army.

Secondly, the IB known as Alessandro Mateu further went out on a large scale advertising campaign, posting ForexGen advertisements on many hundreds of websites that had nothing to do with forex or investment, frequently in violation of the rules of the websites he posted in. The core definition of spam is unwanted electronic advertising, and this was spam on a huge scale. Spamming is considered to be unethical by the standards of the Forex Peace Army.

ForexGen permitted this activity to continue, even after being directly told of these activities by the owner/moderator of Alan's Money Blog via LiveChat support. Further, instead of trying to prevent their IB known as Alessandro from continuing his actions, ForexGen gave a copy of the LiveChat session to Alessandro so that he could misuse it to try to defame Alan and the Forex Peace Army.

Thus, although these actions were not directly done by ForexGen, they were done on ForexGen's behalf with the knowledge of ForexGen. We consider these activities to be unethical and therefor declare ForexGen to be a scam. We offer ForexGen the chance to resolve this issue by ending their contracts with Alessandro and any other IBs involved and publicly posting rules that their IBs must abide by to prevent this sort of activity from recurring, with assurances that any IB who violates those rules will not be allowed to continue as an IB.

We extend our sympathies to traders who have been mislead and to website owners and readers who were subjected to these abusive postings. We extend warm regards to our member, Master Sergeant Pharaoh for investigating this activity and providing more than enough evidence to us in order to prove these allegations. We further extend warm regards to Alan, the owner/moderator of Alan's Money Blog, who joined the FPA during this event.

ForexGen is hereby blacklisted by the Forex Peace Army.

The original complaint may be found here...