What do you guys make of this?
They now admit that they are not regulated. See my chat thread with them. What do you guys make of this?
===============================================
jack:
how can i confirm that my funds will be held in segregated account
Welcome jack! Your request has been directed to the English Desk department. Please wait for our operator to answer your call.
Call accepted by operator Italian Support. Currently in room: Italian Support.
Italian Support:
Welcome to FXCBS Live Chat support!
Italian Support:
sir, when you fund your account, the funds go to a segregated bank account (Separate from the company's funds) and then we allocate them with liquidity
providers for trading purposes. All Liquidity providers are either insured by FDIC or other deposit insurance organizations
jack:
how do i confirm this is actually as you say it
jack:
do you have a document from the bank?
Italian Support:
We can not disclose these information as we have binding confidentiality agreements,sir
jack:
do you mean that you cannot disclose that my funds is segregated?
Italian Support:
sir, all of the clients funds are held in the Headquarters at Standard Chartered Bank - Dubai
jack:
yes. but that does not mean that it is segregated client account
Italian Support:
sir, we have no reason to not provide you a correct information
Italian Support:
it's also very important for us that the clients funds are safely held
Italian Support:
thank you for your understanding!
jack:
i am not saying that you are not providing me with incorrect information. i just would like to do my due diligence before funding my account. i need to be able to
assure myself that my funds is safe. is there anyway i can do this?
Italian Support:
what exactly would you need,sir
jack:
do you have anything from the bank to confirm that my funds is held in a segregated client account. you do understand that i prefer to see it as i found out from
your colleague earlier that fxcbs is not regulated
Italian Support:
correct, we are not regulated but that does not mean anything,sir
Italian Support:
we are currently running on our regulations with SYSEC, MIFID and FSA
Italian Support:
and as soon as all is done we will post everything on our website for your to see it
Italian Support:
additionally right now we are licensed by the BVI (British Virgin Island)
jack:
can you please help me. i need to know that when i transfer my funds in later, it is to a segregated client account not from what you say but from an independent
confirmation
Italian Support:
sir, I was very clear at the beginning, we cannot disclose this information and we do not have a public document to show as per described by you,sir
Italian Support:
sorry