Problem FOREXGEN.COM SCAM Alert! Broker stole over $160K from our trader!

[OzWizard]

Does not make sense to me??

Only reason would be liquidity. If you don't trade big (institutional size) no point in trading fx.

Looking at the 'depth of market' and seeing Bids / Offers as low as 4,5 to 30,40 to 90, 100.... seems kind of hard for the big boys to fill their positions??

Certainly isn't anywhere near the volume of the EMini S&P.....

And I do not see where liquidity is a problem as I doubt I would ever have more than 3 or 4 lots on board??

?????

OZ

 

[liteleto]

get the bastards

bless u Rob n Felix

 

[Bentonli]

We need action to protect ourselves

Hi, Felix and everybody:

I have just joined FPA after heard of Rashid's story.

First I want to thank Felix for his great job for us traders and my heart goes to Mr. Rashid and wishes he gets his money back soon.

This incident just gives me a kind of alert that some very dangerous animal is out there and is threatening the safety of every honest trader.What happened to Mr.Rashid could possibly happen to any of us in the future. I have not been scammed yet so far.But I don't think this couldn't happen to me in the future. We, forex traders, deserve a safe trading environment. Can we rely on Interpol or governments to get rid of those scammers? Probably not. Before goverments can take any action,many traders may have become victims and they could be you or me!

I believe that we, as FPA soldiers, can do something here. I don't know the true story behind Mr.Rashid's case. Based on the information I have gotten here, I tend to believe that Mr. Rashid is a victim. But, to be fair, we need the other side of the story. We need to hear from Forexgen.

Felix: here is my suggestion. 2 steps action.

Step 1: Besides what you have done so far to notify governments, we should invite Forexgen to post their side of story here or in the website they choose or in any way they want to publically tell the story. Of course it should be in a limited time. Now more than one month has passed. They claim that they are investigating. What make them take so long to inverstigate this matter? We should give them some sort of time limit. If they don't reply or If their explanation is unacceptable, then we should take next,final step 2: Mobilize our FPA soldiers to put them out of business. I am not a lawyer. I don't know whether this action is proper or not. But to protect ourselves, we need to do something. Traders: this is not just for Mr.Rashid. It is for you and me. If Forexgen is a true scammer and get away without punishment, more Forexgens will come to eat you or me alive one day. Considering the ammount it involves, it is worth action. That is why FPA exist for!

Step2: To mobilize all our FPA soldiers to take all means available to put this scammer out of business. This is a final action and is only taken after they fail to convince us. The actin we could take is: Mobilize our soldiers to provide all public forex forums online and encourage our soldiers to register there and tell the story repeatedly. I believe that most of forex traders would visit some kind of forex forum once a while. They claim that they have thousands of clients and if thousands of their clients hear about this story, I don't know how many would still stay with them. This is a way to show our strength and can serves as a warning to any potential scammer.


But this action should be cautious. We should give them the opportunity to prove themselves. We should act as reasonable traders, not trouble makers. That we demand an explanation from Forexgen is reasonable because Mr. Rashid is one of subscribers and he is coming for our help. If their explanation can convince us, no more action should be taken. There may be some untold story. Our aim is to protect our honest traders, not to disturb any honest brokers. Brokers can make mistakes. Traders can make trading mistakes too. But both must be honest. Otherwise it is FPA's holy duty to get rid of those scammers.

We should take some actions if this guy is a true scammer. Otherwise who will need
FPA?

 

[pip hunter]

so any update with that story of rashid? what happened is this scammer still running their business?

 

[alessandro0003msc]

Hi all

Traders & Brokers like investor
The investor is the one who going to take the risk & change it to profit in short or long term according to specific rules & principles
So, if some one like (........) Rashid great investor from years ago that we can say that he is professional trader in the market
But,
The sward can be used in killing people & in defending, so you can use Forex Market as a weapon with two edges & I think all people here understand my words
So we know Rashid but we don't know what Rashid did with forexgen & we don't know also what forexgen did with Rashid
Take care from yourself not from the broker because you have control over your self not on the broker
What Forexgen did with me as a trader there?
I will not say I'm expert adviser or professional Trader but I can say I'm using technical analysis & fundamental from 7 years ago.
I have opened account with forexgen from 2 years as a NDD account that because I'm scalper
I have traded 10 lots at 1 st day of trading that I can't forget this day cuse it the day that I achieved highest profits in my life that within 1hr I achieved 20thousands dollars,
Than I asked for opening another account & I opened one in the next day.
Then I worked with the both accounts till I reached in one year from 42thousands to 115thousands (don't forget no profit without loss)
once I closed one of my accounts & I withdrew all the money
There was some delay but I get my money back within a week from the day that I make the withdrawal.
Then I'm back now to Rashid Story I think forexgen didn't made any something bad cuse I trust them & satisfied with them
I don't care about all this scams but I cared about my trust to forexgen
There are brokers who are more greater but have more scams & more frauds.
Scams not an indicator to judge about the performance of a broker
I will say it again:
"""Scams not an indicator to judge about the performance of a broker"""

Thanks & good luck with trading

 

[noelnaveed@gmail.com]

I am also victum of forexgen.com

Hi everyone,

Only reason, I joined forexpeacarmy is that I am also victum of forexgen.com
They are not returning my $975. My account number is 5011889. I never did a single trade. Just got suspecious and requested to withdraw my money on Dec 14,07. Have not gotton anything yet.

I am very sad. What do you guys suggest I should do

Naveed:shocked:

 

[alessandro0003msc]

Dear FELIX

How are trading Today with you clients
First of all I would like to say you made something fault which is dealing in bad mouse
Second I'm trader at forexgen
But I didn't found nothing for your words
Well I know Rashid & I know him very well & he knows me very well
He know his fault that he used technical analysis without fundamental
In this history the petroleum price raised & he didn't observe that
& that was the main problem that he don't know what will affect the prices

Something else I reviewed all the brokers in forex peace army & I found the following result:
Excellent brokers : Stars 20%
Scams 80%
Very Good Brokers: Stars 30%
Scams 70%
Good Brokers: Stars 50%
Scams 50%
Bad Brokers: No Rating 50%
Stars 30%
Scams 20%
So what about You?

Should I make a website & make you as a scam to be rated well as these brokers or what?
Now Traders Don't believe in any of your scams that you publish in all these website

At sometime you have to stop something bad you do because it will affect your work in the next period
You are not gangster to do that
It's not a rule if some problems happened between brokers & Traders that criminal will be brokers
It's not a rule to say bad mouse about someone who is justice

Think well & erase some of your fault
I hope all people to read that & give there comments

 

[lukmyno]

Stop It!!!

thank you Felix for being there 4 us. A word of note to all scammers.
STOP IT OR GET STOPPED OUT!!!!!!!!!:unhappy:

 

[alessandro0003msc]

Claim Your Answer

How are trading Today with you clients
First of all I would like to say you made something fault which is dealing in bad mouse
Second I'm trader at forexgen
But I didn't found nothing for your words
Well I know Rashid & I know him very well & he knows me very well
He know his fault that he used technical analysis without fundamental
In this history the petroleum price raised & he didn't observe that
& that was the main problem that he don't know what will affect the prices

Something else I reviewed all the brokers in forex peace army & I found the following result:
Excellent brokers : Stars 20%
Scams 80%
Very Good Brokers: Stars 30%
Scams 70%
Good Brokers: Stars 50%
Scams 50%
Bad Brokers: No Rating 50%
Stars 30%
Scams 20%
So what about You?

Should I make a website & make you as a scam to be rated well as these brokers or what?
Now Traders Don't believe in any of your scams that you publish in all these website

At sometime you have to stop something bad you do because it will affect your work in the next period
You are not gangster to do that
It's not a rule if some problems happened between brokers & Traders that criminal will be brokers
It's not a rule to say bad mouse about someone who is justice

Think well & erase some of your fault
I hope all people to read that & give there comments



Why You don't respond till now Felix?

 

[Pharaoh]

Alessandro,

Our reviews are made by individuals. Unfortunately, it is possible for a bad service to arrange good reviews for themselves and bad reviews for others. No open or even moderated review service is immune to this sort of tampering, but I am told that some additional upgrades and safeguards are being worked on that will further improve FPA's review system.

Judging by the advertisements you posted in the Forex Services discussions, I'm guessing that you are an employee of ForexGen. If so, you have quite a few things to answer for, including refusal to release money to clients and why your brokerage has large amounts of incorrect (fake) contact information.