Honestly I believe your chances of getting money back are close to zero because this company answers to no one. No regulatory agency, nothing. This is from there FAQ site.
"19.Is ForexGen regulated?
ForexGen is registered and regulated by itself and through its partners ForexGen is furthermore being audited by leading revision firms several times a year. "
HAAAAAAAAA regulated by itself, honestly if your care so little about your money that you will put it in a place that "regulates itself" what do you think was going to happen if you somehow made a good amount of money. So basically there is no recourse you can take, there is no arbitration service like the NFA might have nor do they have to worry about a tarnished image. Even somewhat sketchy operations such as FXCM still have to answer to the NFA so as long as there not going bankrupt, if you were wronged there is a good chance you will get your money back either through threats of filing a complaint, or actually going through the process. With these guys theres no where to go and that 160,000 is probably 10% of the their net capital. Don't think so? MB trading which is thought highly in this forum has fewer then 5 million in net capital last time I checked there website. Why would they give it back? You've basically given up your only thing you had against them, keeping this story under wraps, now that its out what do they have to gain? No one is regulating them, there reputation is already Sh*t, they're gonna just take the money and run. I know I'll get some crap for this and I really like that Felix and Rob care so much, but by blowing this up, informing everyone in the SFS, you may have helped the forex community, but you also helped screw this guy out of the little chance he had of getting back his $160,000. Maybe it was a last resort after numerous contacts but still, now they have no reason to give there money back and can even state there Terms of service saying he violated them.
