GUILTY Case# 2011-011 | m4re vs www.avafx.com

[harris.automate]

Definitely guilty. Logically, subsequent steps should be: Open Cases --> GUILTY --> Scam Investigation --> GUILTY --> Confirmed SCAM (scum)!
What happens after that? A lot of SCAM brokers are still happily operating, and their clients (existing and new) either don't care or don't know about it.

This is what I was pondering about. My thoughts were:

1) Scammed operators reputation and subsequently business affected.

However, unless a huge share of traders, retail traders so to speak, refer information within FPA, and then boycott and pull out their accounts from those scammers, whatever we are doing here may not have significant impact in the retail trading industry as a whole.

Therefore, I do see an advantage in promoting and getting FPA as one centralised mouthpiece. Or any alternative??

2) Get the local (or international) authorities to enforce/act/punish on scammers, upon FPA request/verdict. But this sounds pretty far fetch???

What do you all think???

 

[Chibuzor Okoye]

This is what I was pondering about. My thoughts were:

1) Scammed operators reputation and subsequently business affected.

However, unless a huge share of traders, retail traders so to speak, refer information within FPA, and then boycott and pull out their accounts from those scammers, whatever we are doing here may not have significant impact in the retail trading industry as a whole.

Therefore, I do see an advantage in promoting and getting FPA as one centralised mouthpiece. Or any alternative??

2) Get the local (or international) authorities to enforce/act/punish on scammers, upon FPA request/verdict. But this sounds pretty far fetch???

What do you all think???

I agree with you. That is the best way to make sure this Forum is established and our votes count. A trader losing money to a Scam Broker might be his last source of funds and if all we can do is just pass a vote and call it a scam broker, then that's not enough. Hard earned cash should not be lost. I charge the FPA to take up this task. I will fully support it, even if it's for a fee.