GUILTY Case# 2011-064 | Celina Salim vs www.intelfx.com
- Thread starter Celina Salim
- Start date
now4dw
YourTradingJournal representative
- Messages
- 6
If it sounds too good to be true, it is!
I've raised this before and I'll probably repeat it until I die...
Why do traders insist on putting their funds with these 'post office box' brokers? What is the attraction?
I am not saying or suggesting that anyone deserves to be ripped off, but for crying out loud guys - STOP EXPOSING YOURSELF TO EXCESSIVE RISK!
Yes, every broker started small - but not with my money! This is pretty much a cowboy business. For that simple reason i want to put my money in the safekeeping of the sheriff, not the outlaws. Sure the sheriff cops a bullet every now and an again, but a lot more of them survive than the baddies.
Increase your odds by remembering one simple truth... no-one in FX Land is going to give you anything for nothing!
David Wilks
Your Trading Journal
I've raised this before and I'll probably repeat it until I die...
Why do traders insist on putting their funds with these 'post office box' brokers? What is the attraction?
I am not saying or suggesting that anyone deserves to be ripped off, but for crying out loud guys - STOP EXPOSING YOURSELF TO EXCESSIVE RISK!
Yes, every broker started small - but not with my money! This is pretty much a cowboy business. For that simple reason i want to put my money in the safekeeping of the sheriff, not the outlaws. Sure the sheriff cops a bullet every now and an again, but a lot more of them survive than the baddies.
Increase your odds by remembering one simple truth... no-one in FX Land is going to give you anything for nothing!
David Wilks
Your Trading Journal
FXPulsator
Private
- Messages
- 16
Beware all fixed spread brokers
Hi Celina Salim,
Prima-facie it seems you have a strong case.
Can you post the screen-shots or the trading statement copy of the account showing the draw-down of $50k & later zooming to $200k, I am sure you would have retained the evidence, request you to post along with the case so that it is easy to take the decision.
Regards/
:nerd:
Hi Celina Salim,
Prima-facie it seems you have a strong case.
Can you post the screen-shots or the trading statement copy of the account showing the draw-down of $50k & later zooming to $200k, I am sure you would have retained the evidence, request you to post along with the case so that it is easy to take the decision.
Regards/
:nerd:
These guys = Crooks
In checking their site, I did not see any reference to being regulated (I know that brokerages in Australia are often regulated by the Australian Securities & Investments Commission [ASIC] and New Zealand has their FMA or Financial Markets Authority), which is not a good sign. I also did not see any reference to having segregated accounts....another bad sign. The bottom line for companies like this one is that they "frankly" do not have the money to cover their own losses (you win, they lose), and having her account grow to 200K adds "insult to injury". These guys appear to be crooks, and hopefully the FPA can help Celina get her money. I would not, however, bet on the 200K amount, as they will not have this money available.
Investigations and Enforcement | Financial Markets Authority
In checking their site, I did not see any reference to being regulated (I know that brokerages in Australia are often regulated by the Australian Securities & Investments Commission [ASIC] and New Zealand has their FMA or Financial Markets Authority), which is not a good sign. I also did not see any reference to having segregated accounts....another bad sign. The bottom line for companies like this one is that they "frankly" do not have the money to cover their own losses (you win, they lose), and having her account grow to 200K adds "insult to injury". These guys appear to be crooks, and hopefully the FPA can help Celina get her money. I would not, however, bet on the 200K amount, as they will not have this money available.
Investigations and Enforcement | Financial Markets Authority
Dermolikesprofit
Sergeant
- Messages
- 158
conartists
Guilty!!! without a shadow of doubt.
As many have posted before if you are going to invest money in a buisness why go to bucketshop the first day, I would prefer to pay a spread and commition with a trusted well established ecn/stp broker and have the ability and reasurance of being able to withdraw my money at any stage.
Hope you have a positive outcome.
Guilty!!! without a shadow of doubt.
As many have posted before if you are going to invest money in a buisness why go to bucketshop the first day, I would prefer to pay a spread and commition with a trusted well established ecn/stp broker and have the ability and reasurance of being able to withdraw my money at any stage.
Hope you have a positive outcome.
John Beane
Recruit
- Messages
- 1
Guilty as charged
Hang'em from the yardarm!
Hang'em from the yardarm!
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