NFA Accuses FXDD Differential Slippage and More

[WaveRider]

CTA = commodity trading advisor?

 

[BigT1]

CTA = commodity trading advisor?

Yes, CTA = Commodity Trading Advisor; not limited to "Commodities", but all Futures, Options, and Forex.
A CTA is a licensed fiduciary, priviledged to solicit "Money under Management", and require a fee on funds under management, plus a fee based upon performance. However, this can only be done via an NFA Approved Disclosure Document offered only to qualified, sophisticated investors.
Read that as: "Hedge Fund Manager". Visit the NFA website to learn more:
NFA - National Futures Association

 

[Joh]

Great to have your input Big T - just what FPA and all of us need - thank you

 

[BigT1]

Great to have your input BigT1 - just what FPA and all of us need - thank you

Thanks, Joh; much appreciated.
FYI readers of this thread: I have received no reply to my posts and 2 private messages I sent to marjiemiller regarding her claims against Mutual of Omaha from Post# 15. Therefore, I can only suggest in the absence of any evidence to the contrary, this was a bogus claim of fraud; likely designed to deceive readers, due to some personal greivance she may have against her insurer.
I suggest all FPA readers always do their own due diligence before swallowing any blog post (here or anywhere) hook-line-and-sinker, whether positive or negative.

 

[marsh56]

Has there been any update on the complaint? It has been 60 days since it was lodged. Thanks in advance for any info.

Mark

 

[BigT1]

Has there been any update on the complaint? It has been 60 days since it was lodged. Thanks in advance for any info.

Mark

None received here, privately.

 

[marsh56]

None received here, privately.

Just to be clear, I was referring to the NFA complaint against FXDD. Thanks.

Mark

 

[Pharaoh]

I just checked the NFA site again. No updates.

 

[PipStar]

As if things could not get any worse, FXDD has been hit with more NFA action this time over FXDD's failure to adhere to anti money laundering rules:

Link: NFA hits FXDD with an administrative complaint over AML policies | Forex Magnates

 

[Pharaoh]

They finally answered the first complaint. Regarding grabbing money from traders via filing lawsuits, they seem to be in denial, even though they paid Raimundas.

And now this new complaint. The case file is here:

Case Summary

And the Complaint pdf is here:

http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=3417

Looks like FXDD keeps failing to bother to conduct annual AML training for employees.