I find it a pity that brokers like Vantage are no longer called out as scam if all evidence confirms that. This would protect many traders from investing in them.
For more info on the recent changes that FPA made regarding Trader's Court, look here:
Today marks the end of an era at the FPA. For reasons I will explain below, the Scam Alerts folder is closing down and formal Traders Court activities are ending. Try not to panic. For those willing to follow some new instructions, the FPA can still be a great place to get an issue resolved...
and for some historical context, look at some of the history of the FPA Trader's court:
This is superseded by the 2022 Traders Court Rules HERE. Announcing some changes to the handling of scam complaints New Traders Court Short version for those who have limited attention spans... Traders Court is changing. The replacement is called New Traders Court. 1. There are no more...
Traders Court 2022 The FPA Traders Court has undergone several major changes over the years. Each change was an attempt to make the system work better and to reduce or eliminate existing problems. This is the change for 2022. In order of priority, the main goals of the FPA's Traders Court...
It will take about 20 minutes, but it is worth it to understand the tireless effort that FPA and certain senior members have put into attempting to help legitimate victims.
So you will see that what was done to improve the FPA trader's court over the years is a lot more complex than just a company being
called out as scam if all evidence confirms that
. In an overwhelming majority of the cases to date, victims either:
- did not follow Trader's Court instructions, no matter how plain we made it.
- actively tried to sabotage FPA efforts to collect evidence.
- Rarely acknowledged that it was largely their own choices actually put themselves in the position that they were in.
- Continued later to make a similar mistake with a new
gambling house company.
FPA staff and members can only do so much to help. Especially at no initial cost to the victim.