theforexpetition
Banned
- Messages
- 5
The NFA changed the meaning of the term/word FOREX from On-exchange trading to Off-Exchange trading. This is not possibly legal because it would delude it's entire customer base into thinking they are trading on the real Foreign Exchange when in fact- all accounts belonging to people and or businesses with less than 10 million in assets are traded on simulated gaming platforms that are fully controlled by the brokerage firm your account is with or their partner firm.
There is no actual counter party- your playing against the program- like online poker- or solitaire is more accurate- since there are no other players connected to your copy of the game platform.
The chart movement isn't real. It follows only the general movement of the real stock market. The minute movement is created using a combination of its program algorithms and your trading patterns- shifting the movement of the market to trigger you to jump in big by making the direction seem stable. When you place a stop order- it signals the program to hit the stop. If you place no stop and there's no activity for a set length of time- it will run the wrong way or spike- just enough to trigger a margin call -when your not there to catch it.
The programs are fully controllable by the broker- and usually in the fine print in the agreement- you gave them permission to adjust fill prices AFTER the order has been filled.
It says all of this in the rules on the NFS site.
My complaint is against the NFA for altering the meaning of an internationally used term that is the short for what it stands for- The FOReigh EXchange. Doing this permitted brokers to delude customers. The NFA not only allowed it- they made it possible. They are guilty of spearheading the largest fraud scheme that's ever existed.
The word FOREX must be returned to its organic meaning of On-exchange trading.
I started a white house petition: http://wh.gov/VSjV
They should be removed from their position of regulating the industry. What they did protect the brokers from false advertising violation charges. There is no acceptable defense for their actions. There is no way to change the meaning of an internationally understood term with out causing people to be deluded. The only possible reason to do what they did is to delude people.
Federal Truth in Advertising Law
Truth-in-advertising regulations protect consumers from false or misleading advertising. The law requires advertising to be truthful and non-deceptive
False advertising occurs when a business seeks to induce the public to enter into any obligation by making a statement about its own products or services that is false or misleading and that the business knew, or should have known, was false or misleading.
________________________
(a) Civil action
(1) Any person who, on or in connection with any goods or services, or any container for goods, uses in commerce any word, term, name, symbol, or device, or any combination thereof, or any false designation of origin, false or misleading description of fact, or false or misleading representation of fact, which—
(A) is likely to cause confusion, or to cause mistake, or to deceive as to the affiliation, connection, or association of such person with another person, or as to the origin, sponsorship, or approval of his or her goods, services, or commercial activities by another person, or
(B) in commercial advertising or promotion, misrepresents the nature, characteristics, qualities, or geographic origin of his or her or another person’s goods, services, or commercial activities,
shall be liable in a civil action by any person who believes that he or she is or is likely to be damaged by such act.
d) Cyberpiracy prevention
(1)
(A) A person shall be liable in a civil action by the owner of a mark, including a personal name which is protected as a mark under this section, if, without regard to the goods or services of the parties, that person—
(i) has a bad faith intent to profit from that mark, including a personal name which is protected as a mark under this section; and
(ii) registers, traffics in, or uses a domain name that—
(I) in the case of a mark that is distinctive at the time of registration of the domain name, is identical or confusingly similar to that mark;
(II) in the case of a famous mark that is famous at the time of registration of the domain name, is identical or confusingly similar to or dilutive of that mark; or
(III) is a trademark, word, or name protected by reason of section 706 of title 18 or section 220506 of title 36.
_______________________________________________-
Governing Agency
The Federal Trade Commission (FTC) enforces advertising regulations through the Federal Trade Commission Act.
There is no actual counter party- your playing against the program- like online poker- or solitaire is more accurate- since there are no other players connected to your copy of the game platform.
The chart movement isn't real. It follows only the general movement of the real stock market. The minute movement is created using a combination of its program algorithms and your trading patterns- shifting the movement of the market to trigger you to jump in big by making the direction seem stable. When you place a stop order- it signals the program to hit the stop. If you place no stop and there's no activity for a set length of time- it will run the wrong way or spike- just enough to trigger a margin call -when your not there to catch it.
The programs are fully controllable by the broker- and usually in the fine print in the agreement- you gave them permission to adjust fill prices AFTER the order has been filled.
It says all of this in the rules on the NFS site.
My complaint is against the NFA for altering the meaning of an internationally used term that is the short for what it stands for- The FOReigh EXchange. Doing this permitted brokers to delude customers. The NFA not only allowed it- they made it possible. They are guilty of spearheading the largest fraud scheme that's ever existed.
The word FOREX must be returned to its organic meaning of On-exchange trading.
I started a white house petition: http://wh.gov/VSjV
They should be removed from their position of regulating the industry. What they did protect the brokers from false advertising violation charges. There is no acceptable defense for their actions. There is no way to change the meaning of an internationally understood term with out causing people to be deluded. The only possible reason to do what they did is to delude people.
Federal Truth in Advertising Law
Truth-in-advertising regulations protect consumers from false or misleading advertising. The law requires advertising to be truthful and non-deceptive
False advertising occurs when a business seeks to induce the public to enter into any obligation by making a statement about its own products or services that is false or misleading and that the business knew, or should have known, was false or misleading.
________________________
(a) Civil action
(1) Any person who, on or in connection with any goods or services, or any container for goods, uses in commerce any word, term, name, symbol, or device, or any combination thereof, or any false designation of origin, false or misleading description of fact, or false or misleading representation of fact, which—
(A) is likely to cause confusion, or to cause mistake, or to deceive as to the affiliation, connection, or association of such person with another person, or as to the origin, sponsorship, or approval of his or her goods, services, or commercial activities by another person, or
(B) in commercial advertising or promotion, misrepresents the nature, characteristics, qualities, or geographic origin of his or her or another person’s goods, services, or commercial activities,
shall be liable in a civil action by any person who believes that he or she is or is likely to be damaged by such act.
d) Cyberpiracy prevention
(1)
(A) A person shall be liable in a civil action by the owner of a mark, including a personal name which is protected as a mark under this section, if, without regard to the goods or services of the parties, that person—
(i) has a bad faith intent to profit from that mark, including a personal name which is protected as a mark under this section; and
(ii) registers, traffics in, or uses a domain name that—
(I) in the case of a mark that is distinctive at the time of registration of the domain name, is identical or confusingly similar to that mark;
(II) in the case of a famous mark that is famous at the time of registration of the domain name, is identical or confusingly similar to or dilutive of that mark; or
(III) is a trademark, word, or name protected by reason of section 706 of title 18 or section 220506 of title 36.
_______________________________________________-
Governing Agency
The Federal Trade Commission (FTC) enforces advertising regulations through the Federal Trade Commission Act.
