Thanks for that link Cokemon. I will copy that link again here:
globalinvestoralerts.com/public_html/forex_portfolios_management_limited.shtml
It seems almost impossible to track down these criminal elements on the Internet, and for this reason, the crime of Internet theft and fraud will continue to flourish, as long as people fail to check the bona fides of the brokers they want to deal with.
This must eventually cause further regulation of the industry.
That may be good for traders in that these kinds of companies will be removed from the public domain. But the bad news would be that traders also might be more heavily regulated themselves.
For example traders may have to obtain a licence to trade - proving that they understand the risks, and are capable of self management of an account. Competence in handling money is what is often missing in many of these cases.
And traders may then be forced to choose a broker from a narrow list of certified brokers. That would be restrictive, and lead to higher costs to traders, as competition is then reduced.
This issue should go quickly to a vote, because the issue seems indefensible by both Varengold and Forexportfolios.com.
And in the absence of any response from Varengold (forget Forexportfolios - they are gone) there seems to be no other possible result than "guilty."
I am wondering how long these crooks are going to flourish?
I am wondering how anyone with $100,000 could even think of using a broker like this - it must come back to the feet of Varengold for sure. I think it is Varengold who has the case to answer here.
