Red Alert on Red Uluru
Companies have been known to go to all sorts of trouble to submit fake reviews to the FPA. This keeps the review moderators very busy weeding out the fake reviews that are mixed in with the real ones. It's not an exact science, but they've been doing it long enough to be very good at it.
Now there's a company that decided to save itself the effort of submitting fake reviews. Instead, they posted this misleading image on their web page...
We mght not have noticed this for a long time, but FPA member Brendie wrote in to ask if anyone at the FPA could confirm that Red Uluru really had a 5 star rating with the FPA. The FPA's reviews were carefully checked. The FPA's forums were checked. There was no sign of anything related to RedUluru anywhere in the FPA's website. Today they are getting a Scam Finding, this article, and a review page.
The fake information from Red Uluru's site says that they have 486 reviews. A quick check of the FPA's reviews showed that there is only one company with over 400 reviews. As of now, FXCM has 410 reviews. No company yet has had 486 reviews. Checking the wording quoted as Citations from the Forex Peace Army shows that the supposed endorsements for Red Uluru were improperly taken from Stealth Forex's review page. Stealth Forex currently has 92 reviews and a 4.512 star rating. We believe that there is no chance that Red Uluru is an existing product that changed it's website and legitimately have the reviews it claims.
Even though the website shows some claimed results from 2009 and 2010, the domain was first registered in February of 2011.
There was some discussion about whether to make this a Traders Court Case or if it should be listed in the Scoundrels folder. Due to the deliberate attempt to mislead traders as well as the abuse of the FPA's trademarks, it was decided that a full scale Scam Finding was the most appropriate way to send a strong message that this sort of deception will not be tolerated. If the people behind RedUluri would like to have the scam finding lifted, the terms are clearly laid out inside the scam finding.
RedUluru.com is hereby blacklisted by the Forex Peace Army. We urge traders not to do business with this company. For those who have already purchased their product, we urge you to seek a refund immediately.
FPA Scam Finding against Red Uluru
The Real FPA Review Page for RedUluru.com