Thank you George.
1. It is understandable about BTC. I can't imagine any liquidity providers are keen on taking the other side of a buy trade.
2. It is absurd to suggest that EBH are an independent company. Their website, licensing authority and address in Bulgaria are (nearly) identical to FXChoice. Obviously the same principals are involved.
By itself, opening a new brokerage is not too much of a concern. You could simply advertise it as a chance for Europeans to enjoy Euro regulation. Sounds great.
Instead, you are explaining the similarity with this 'brand rental agreement' (a made-up term) which is nonsense. A brand is an asset of a company, one doesn't rent it, one takes legal steps to prevent it from being loaned or borrowed.
There doesn't seem to be any need for this dissimulation, but since FXChoice wants to pretend it's loaning out its 'brand' to itself, while saying EBH is independent, there must be something wrong. Even though I can't guess the motivation, it's now a huge red flag.
Thanks for any explanation you can offer.
Hello again ScarletPipernel,
Now that we see your post, we realise what kind of vibe our email creates, and we assure you this was not our intention to spook everyone like that.
Sometimes, it is best, not to try and read between the lines, but instead, see things for what they are. In this particular case, it was just an introductory email, that is all.
We would like to clarify a few things. We are not trying to shed our European clients. We are simply offering an alternative, an EU-based and licensed alternative. It just makes sense for EU clients to trade with an EU-based broker.
Besides, we leave the ultimate decision up to our clients. We are not forcing anyone to leave us and join EBH.
It may sound a little corny, but over the years we have been conducting business honestly and ethically. We genuinely do care about our clients. The evidence is plentiful in this thread.
We are sure, you are aware of the fact that every rational business operates on a going concern basis, we are not an exception, and we’ll do our best to keep it that way.
