ForexGen (Case 3)

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...

The brokerage company known as ForexGen has failed to return funds due to the FPA member known as Adam. Failure to return money to traders upon request is the primary definition of "Scam" for the members of the Forex Peace Army.

Further, we find that ForexGen's agreements with traders are written in such a way as to allow ForexGen to confiscate funds from the accounts of traders for a wide variety of reasons that are not clearly defined. In this particular case, ForexGen claimed that Adam had acted in a hostile fashion and that this cost exactly $3,59493 - the exact same amount of money Adam had made trading forex with them. ForexGen refused to provide Adam with any examples of these alleged hostile actions. ForexGen also claimed that Adam's account had been inactive and refused to respond when Adam sent them proof that he had been trading his account. ForexGen's owners appear to believe that they can not only confiscate money for virtually no reason, but also believe that they don't even have to show a trader any evidence that he violated their vaguely written rules.

When one of our investigators wrote to ForexGen, his email signature was posted in another forum by someone claiming not to be employed with ForexGen. Further, an anti-FPA propaganda website suddenly had our investigator's name on it. To try to prove that the site had found out our investigator's name earlier, there was even a blog entry falesly dated to February 2007. Our investigator on this case was first employed by the FPA in late February 2008. ForexGen never responded directly to emails from our investigator, but instead appears to be sharing information about client cases with non-employees.

Thus, we officially find that ForexGen is a scam. We offer ForexGen the chance to resolve this issue by returning funds legitimately due to Adam. Additionally, ForexGen needs to clarify its relationsip with certain non-employees who seem to have access to information on ForexGen's computer system that should only be accessible to ForexGen employees. Further, we would ask that ForexGen modify its agreements with traders so that there are clear definitions regarding possible actions that may result in confiscation of funds, as well as a reasonable way for traders to appeal such decisions when they are made in error.

We extend our deepest sympathies to Adam as well as other traders who have lost money due to the unethical actions of ForexGen. We extend warm regards to Lt. Ken of our Scam Investigations team for his efforts on this case.

ForexGen is hereby blacklisted by the Forex Peace Army for the third time.

We encourage all traders who have experienced problems getting monies owed to them by Forexgen to contact the Okokrim. This is The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime. Their website is...


There is an "Information in English" button on top of the page.

Okokrim can also be reached by email at

The original complaint is here...