GUILTY Case# 2012-004 | maxruben vs www.fxclub.com/

[Don Quixote]

Guys, Im not following this one at all (I normally vote 'guilty' within a short timeframe). Can someone explain to me exactly what is the problem here (Ive watched the videos and been to their site)? I am loathed to get FPA embroiled in something without good cause (since FPA rocks and has a great reputation amongst traders), and note that this company is NFA regd. Please note that maketmakers are scumbags as a general rule, but that its more a case of buyer beware, there is plenty of evidence around to suggest one should stay away from a Market maker (eg; CMCmarkets) but getting evidence is dificult. PS: Given it is NFA registered (is it? really? anyone checked?), and in light of MFGlobal your best option (the ton of bricks one) would be to go to the NFA directly. You do not want to mess with them! but again, what is the accusation?

 

[susan]

sorry maxruben for your ordeal, the fxclub need to answer why they deleted his accounts from their system over and over again, and it more queer that they are not answering emails, if its a technical fault on their side, they should explain without further undoing.
good luck and i will vote when time is right.

 

[adelb5]

I have no experience about this broker but apparently they doing bad thing to scam traders, that is no a fair trading and cannot trust them.
I agree to fight against those kind of trading

 

[Denny W]

Not scam broker only bad one, there is plenty other broker. Just leave from forexclub and move on, maybe what your experienced with them is their standard service.

 

[PistolDave]

Does it happen often?

Original FPA Traders Court Submission by maxruben:

Do the slippage, requotes, and platform freezing happen at random times; or do they occur only at news times and during fast market conditions? Most market maker brokers will do all these things during these times. If so, it is not a scam broker.

Standing by for your reply.

 

[dbrawner]

Ok... I've read through the case and the replies to date.

First, it is unfortunate you are having issues with the trading platform and apparently gaining no satisfactory response from the broker.

Second, it does not appear that anyone else is having a similar problem with the platform or the broker. At least no evidence or statements have been offered.

Third, aside from the obvious inconvenience, what specific damages are you claiming? I mean, if you have lost money on legitimate trade orders over a period of time, how much has been lost to poor executions or suspected manipulation of your orders?

I know there are rip-off brokers out there. I don't know if yours is one of them.

I know there are technical challenges with electronic and internet trading platforms. They can range from your computer hardware (memory, cpu speed, os, etc.), your network speed and bandwidth (high speed, DSL, cable, etc.), the internet itself (i.e. the system between your ISP server and your broker's servers), and finally your broker's hardware and software configuration (their server farm).

All that being said...

It seems as if the broker in question is not responsive to your inquiries and lacks sufficient customer service to manage issues and disputes.

That offense alone would be enough to blacklist them, which is all this community can reasonably accomplish.

My advice to you is move your account to a better broker. There are many to choose from which is the only saving grace for us retail Forex traders. Like a trade loss, record it under experience and move on, or quit. Unfortunately, this will not be the last "lesson" the market bestows upon you.

Thank you for bringing your experience to our attention so we may all hopefully learn from it.

 

[maxruben]

Hi,
It was happening every time, I should say every time except during the figures because at this time I used to have at least 8 pips between bid and ask.
Thank you for reading the case

 

[maxruben]

Hi,
I don't know what happened it posted at the wrong place.For your question: It was happening every time, I should say every time except during the figures because at this time I used to have at least 8 pips between bid and ask.
Thank you for reading the case

 

[maxruben]

Thank you Devang Surti. I know it is one. Only with the slippage they stole me around 45.000,00usd without speaking about the rest.
Will need advice to carry this to CFTC and NFA because the problem is I am NOT a us citizen and for stranger you know how difficult it is to go to court.
Good day for you

 

[maxruben]

I want to thank everyone who took the time to read my hot scam case and answered and voted. I can tell you that I really did everything possible in my side to find an arrangement with Forex Club. And the most crazy it is that the CEO Peter Tatarnokov told me to the phone he was agreed to compensate me but once I send him the mail he answered me NO. It is incredible I never saw in my whole life someone being to be in bad faith like Forex Club. What is even crazier is that in 2010, Forex Club, LLC (US the one which stool me) was recognized by today’s most prominent indicator for flourishing enterprises; Inc. 500 Magazine. According to Inc. 500, Forex Club, LLC was the fastest growing Forex broker in 2010. And the structure of FOREX CLUB Group of Companies formed a self-regulatory organization, CRFIN, to increase industry integrity. Can you believe this they scammed you they stole you but they formed an organization to increase industry integrity!!!!
All the traders that really want to FIGHT against SCAMMER BROKER and THIEF thank for helping me to spread the videos I have to the Internet and in Brazil also where Forex Club has a business (I speak fluently Spanish but not Portuguese) and in China and Eastern Europe. I can send you directly the video or you have the YouTube’s link in my scam folder case.
Thanks again to everybody, waiting your comments, your ideas and your help. Tweeter and Facebook could be a pretty good one but I don’t have any account and if I open one I won’t have a lot a of contacts.