GUILTY Case# 2011-099 | billnew2fx vs www.ecnalpha.com

[RahmanSL]

"The only issue would be how to enforce a rule like that. Someone (AsstMod or one of his assistants) would have to cross-check a list of voters with the list of forums members after each vote."


Well......that's where "Assistants" to the AssistantModerators comes in.....like what the broker FxOpen.com has been doing the last few weeks, taking on forum members to act as "Moderators". And they actually get paid usd50 per month....unlike some sites where members "work" for free (hint! hint!)....and FxOpen.com are also paying between usd0.03 to usd0.15 real money for each forum post which can be withdrawn in multiples of usd5, resulting in a deluge of new members flooding their forums with all sorts of posts.
I personally don't approve of this "pay per post" as the forum becomes a ruckus of mostly young forumers posting mindlessly and without any regards to the fact that the long dead threads are over 3 years old....reminded me of party crushers in my younger days crushing the party for free booze and food, and then trash up the place!

 

[billnew2fx]

I don't know what to say. Another dissappointing week. John said I would have received the test amount on Friday or Monday (today) at the latest. Nothing in my bank account yet.

I've reached out again to the FX fund manager in Panama just to cross check the progress. He advised that he has received partial payment and told me that ECN Alpha will make good the payment but need some time as they are ironing out some issue with their Liquidity Provider. This fund manager has been visiting the ECN Alpha office regularly and talked to the CEO etc so he knows more about the company than any other clients. This also serves as a proof that at least some clients are getting some of their money back.

I somehow have a feeling that I may still get my money back, maybe giving it a 10-15% chances. If they are a real scammer they could have just close the communication channel. But if we are wrong and that they intend to make a come back after tackling their business issue then wouldn't it be again counterproductive naming them a scammer, and everyone loses in the end, and all their clients would turn out to be the biggest losers of course.

I believe the alert posted on the broker's review page would have serve it purpose of warning the potential traders that may be considering using ECN Alpha. But to go through the voting and naming them scammer would be a little premature and doesn't do the existing clients any favour.

I could be naive but I have presented my case. I believe 2 more days or perhaps 2 more weeks will allow us to have a better picture of ECN Alpha. I don't want to come to the conclusion prematurely. If it is a scam, it wouldn't make any difference if it is named 2 weeks late as I wouldn't get my money any how. But if they still intend to carry on their broking business then delaying the voting would most likely be a favour to all its current clients.

 

[AsstModerator]

A Traders Court vote that comes back as Guilty will change your review from 1 star to Zero stars. It takes several guilty verdicts or something else exceptional to reach the official Scam theshhold.

Would you like to proceed with a vote?

 

[billnew2fx]

Out of all the disappointments came a small piece of long overdue good news. I received a test amount yesterday. A test process to verify that the bank wire details I gave ECN Alpha is good. I've advised John on this receipt and requested them to wire a bigger amount. I really hope this is the turning point.

Seeing how slow things are progresssing can we keep this thread open for a while longer?

 

[AsstModerator]

Are there any updates?

 

[billnew2fx]

They said they have sent me more money last week. But I have not seen it on my bank account yet.

 

[Pharaoh]

Ask them for tracking info. A TTL code for a bank wire. A confirmation if by credit card. If they can't provide any sort of useful information to track the transaction, then there's a very high probability that the money hasn't been sent.

 

[billnew2fx]

I have not received my money and they have been ignoring my emails.

 

[AsstModerator]

This goes to a vote next week. The vote can be stopped if they pay you before the end of the voting period.

Because of the repeated delays, I'm voting guilty and encourage others to do the same. There is no excuse for them to not have already paid you.

 

[1954]

Sounds like a scam to me.