Samtrade FX withdrawals Blocked Millions trapped on their broker

[4evermaat]

I've also noticed that the Finacial commission has now unregistered Samtrade FX even though it was a premium member with compensation fund, https://financialcommission.org/samtrade-fx/

The @Financial Commission is a joke IMO. It seems to be created by those who want to appear to have some "self-regulatory" oversight. They promote fx brokerage products like any other technology provider. Reminds me of those PR companies who will love to let you write articles for a fee of course.

For example, take a look at the brokerages that are listed. And then look at their business models of each brokerage [their real business models]. Notice a pattern?

Maybe someone for @The Punisher to expose when he has time.

 

[jackralph96]

Ok the IJM report has come out Here is the full report regarding the Samtrade situation

 

[jackralph96]

 

[jackralph96]

 

[jackralph96]

Been through the doc some more. looks like we will get 83% of our initial deposit back.

 

[HeavenLeighRob]

Good to see that they got caught and there will be some resolution

 

[jackralph96]

This is the IJM report. Still needs to be processed in court.

 

[oscarra]

Well, the suspected irregular trading turned into “ NO TRADING AT ALL

….how can that happen

maybe time to fill up some JAILS….yes/no ?

 

[jackralph96]

Well, the suspected irregular trading turned into “ NO TRADING AT ALL

….how can that happen

maybe time to fill up some JAILS….yes/no ?

B book broker that failed to turn a profit sounds like the situation here. Maybe there are some other things at play here? Who knows as of right now.... The main concern is that the client's funds don't look to be separated from the company funds which is a huge no-no and will result in us accepting the losses. I've heard rumours of a bailout + compensation but I doubt this will amount to anything.