I think nobody can. FPA supported Pellucid, advertised them as a sponsor of Sive Morton. You even don't hear anybody of FPA on this issue. So my next question is: Is FPA scam too???
The FPA didn't support PellicidFX. Pellucid was one of the companies that supported the FPA. Without advertisers paying the FPA money, how could the FPA provide all that you see here for free?
Advertising does not give companies a free pass to scam FPA members. InstaForex advertised with the FPA until they wouldn't cooperate with a scam investigation. If the FPA was in bed with scammers, they wouldn't have gotten a Scam Finding. Pellucid was sponsoring Sive's gold signals. Just after the only traders court case against Pellucid went public, someone mentioned that Pellucid was still sponsoring Sive. I double checked to see if this was active. It was, so I told the advertising department to end the sponsorship arrangement. If the FPA wanted to scam, it would have been simple to make up a reason to dismiss the Traders Court case. Instead, it progressed and resulted in a Guilty verdict.
In both cases, I was the one who made the decision to end the advertising agreements. In the case if InstaForex, unused advertising money was returned to the broker. In the case of PellucidFx, the FPA is still owed money. That makes the FPA one of the creditors, just like you. The FPA does not want to reduce the amount traders may get from liquidators. Because of this, the FPA's claim on money owed by PellucidFx will not be pursued.
I am also the one who slapped a warning on Pellucid's review page about withdrawal issues. I did this as soon as I heard about issues on withdrawals for accounts where there was no dispute over the trades.
If the FPA wanted to scam, it would be simple to open "Forex Peace Brokers" of "Forex Peace Managed Accounts", get 5 or 10 thousand people to sign up. Then everyone here could disappear and retire on all the money.
Instead, the FPA is still here to be insulted by a small percentage of the people it tries to protect. One of my tasks is to filter potential advertisers before they get to sign any deals. I say OK, short term small contract, or no. After that, I usually don't know if they really signed a contract or not. My login is set up to block the ads so I don't get any subtle pressure one way or the other regarding how to deal with companies. I can tell you that I'd be paid a lot more if I said Yes to more advertisers. Instead, I sleep much better at night knowing that I've prevented ads from some very questionable companies from ever being shown here.
Before you make up any more useless conspiracy theories, I want to see you go out and find a few dozen companies who will pay for ads to keep the FPA going. I also expect you to personally guarantee that none of them will ever scam anyone or go out of business in the future.
People who complain the loudest about the FPA not doing anything are usually the same ones who don't bother to report scam to regulators or file FPA Traders Court cases. Since BlyPips was the only person who bothered to file a case, he's the only one who has earned any right to complain.
