ufx scam

[BigT1]

Egad. . . !

Couldn't have said it better myself, Pharaoh. I don't know where you get your strength to continue in this thankless escapade.
Support arrived just in time too; for I was just about to bow-out of this forum. For the abject ignorance and lack of any respect or gratitute exhibited by the few, really mars the experience of participation. On the other hand, the assistance I have provided others here has been so heartily received that it keeps me coming back to see if I can help you assist a few more.
Pass the whiskey.
.
AI

 

[res123]

Egad. I'm trying to help someone complain to the regulator in charge and you want to complain that they need to have their entire website in English. I wish they did have a full translation, but I can live with google translation for the pages that count. I think it's very nice of an agency that spends the vast bulk of it's time dealing with issues in other languages has taken the trouble to have an English language form for filing complaints.

There are 3 major types of regulators - Goverment Agencies. Government Sanctioned Organisations, and Private Clubs.

Examples of Government agencies include the CFTC and SEC. Note the .gov in their web addresses. Note that most such organizations can not only levy fines, but can file criminal charges.

Government sanctioned organizations would include the NFA. The government can require that certain types of firms and individuals (like BigT1) register. These can usually impose fines, but typically refer to their sanctioning government organization if criminal charges need to be filed.

Private clubs would be things like RAFFM. It's set up by a small group of brokers.

Now let's look at Cysec. Check the website - it's cysec.gov.cy. Note the .gov


As for your accusation of telling people that I advised them "To blindly trust a regulatory body is no wisdom unless one knows its history of handling cases related to investors and their outcomes .", I never said to blindly trust anyone.

What I did say, and what I will keep saying, is that if people don't file complaints with regulators (of any sort, even those questionable private clubs), and then go out and ***** and moan that the regulators are ineffective is the equivalent of not filing a police report and telling others that filing reports is useless when your house and other homes in your get robbed over and over again while also complaining that the cops didn't even bother to increase patrols in your neighborhood.

Blindly ignoring an official channel to file a complaint is the equivalent of granting criminals forgiveness for what they did to you. Telling others to blindly ignore official channels for filing complaints is the equivalent of assisting the scammers in continuing to commit crimes.

It doesn't matter if the regulator has a spotty history or not. If you are a victim, go ahead and complain to the regulators. The more complaints, the more likely that action will be taken at some point.

Go ahead and complain at the FPA and other places online too. The more traders that can be warned the better. Just remember, the FPA can't fine a company or throw someone in jail. That's another reason you need to complain to the police and regulators.

This is the first time I am addressing your comment ,I repeat first time .just read above in the thread ,I had made an independent comment criticizing Cysec for its slothfulness and ignorance . I have criticized cysec in many other threads for the simple reason that nobody since the inception of Cysec have been able to receive a reply in my knowledge ,I have yet to meet a man who has been responded by cysec .

Now lets come to your baseless response to me .you said that I said " before complaining they need to have website in English" ..Just show in my comment where is it written ? I had said only that they do not have website in English as an example of their ignorance that A org which supervise highest number of forex brokers does not have a full website in English ,Elevate your level of Understanding implicit message .

Moreover it takes 5 minutes to create a web form or website in English .but Cysec does not want transparency ,and keeps most in Greek ,How do you know they deal in so many langs ,just because it is in EU doesn't mean they deal in 17 Langs .Keep in Mind " Every yellow thing is not GOLD ."

My comment was never directed to you but you and Big T! are supercilious and found it insulting that somebody is offering better advice than you .You advise people to keep after Cysec but I am advising to not open account with any cysec regulated firm .

keeping after cysec can not do anything to it but if people stop investing with cysec regulated firms ,it will simply have to take action for the simple reason that cyprus earns huge cash through investing activities .

 

[Pharaoh]

Egad again!

If I held your posts up to the same standards you inflict on BigT1, you wouldn't fair well. His mention of 17 languages was stated in a way not too different from some of your own statements that you say shouldn't be interpreted as literal and exact statements of fact.

Don't waste my time saying that BigT1 and I agree on everything. He and I have locked horns on a few issues. The difference is that when we disagree on a point, we try to approach that on a more professional level instead of discouraging traders from pursuing the best course of action and hijacking an innocent thread in the process.

If you want to file a complaint with Cysec about how their website doesn't conform to your ideas of how a website should be, then start a thread in General Forex Talk or else send them an email. If you want to tell people to not invest with Cysec regulated firms, that's also a separate thread.


And now, one last attempt to drag this thread back on topic before I ask Mod to smite someone:

In this case, the horse has already left the barn. This thread is to help Uni2n1 do everything possible through every available channel to try recover his money as well as to warn others of what happened to him.

 

[res123]

you stated all nonsense in your previous and this post still i made an attempt........ .you don't deserve my response of any type .No more reply to you ..you have full liberty to ask mod to smite .Don't blow out of proportion .

you are nobody to tell people to start a new thread for topic ,it is a forum ,not your private property .


@Uni2in1 for you only way out is to hire a lawyer .

 

[AsstModerator]

Telling someone that hiring a lawyer is the only way out while ignoring all the free ways to start a complaint process is foolish. I agree that Uni2n1 should consider a lawyer, but only after following the other advice from Pharaoh and BigT1.

You don't have to like Cysec. Telling someone not to bother filing a complaint with them is foolish

Scam Alerts threads are for helping traders, not grinding axes. Pharaoh and BigT1 spend a lot of time helping people. They have earned the right to ask others to keep these threads on topic.

Robert's Rules of Order clearly states that a motion to put a thread in an on-topic folder back on topic is always in order.


I am Mod Almighty. Do not take this thread off topic again or I shall smite thee.

 

[res123]

Telling someone that hiring a lawyer is the only way out while ignoring all the free ways to start a complaint process is foolish. I agree that Uni2n1 should consider a lawyer, but only after following the other advice from Pharaoh and BigT1.

You don't have to like Cysec. Telling someone not to bother filing a complaint with them is foolish

Scam Alerts threads are for helping traders, not grinding axes. Pharaoh and BigT1 spend a lot of time helping people. They have earned the right to ask others to keep these threads on topic.

Robert's Rules of Order clearly states that a motion to put a thread in an on-topic folder back on topic is always in order.


I am Mod Almighty. Do not take this thread off topic again or I shall smite thee.

Well ,you are free to do whatever you want . last words to you ,you are not the only forum on planet .wisdom doesn't need prop to call it itself wisdom .

I was never obsessed to be on this forum . But if misleading people to bark up wrong tree is the guiding principle on this forum so be it .

and don't be mistaken to call yourself Almighty ,it takes 30 minutes for me to create a forum like this .

 

[BigT1]

Well ,you are free to do whatever you want . . . don't be mistaken to call yourself Almighty ,it takes 30 minutes for me to create a forum like this .

Res123,
For my part, your input remains welcome; if you could only calm yourself long enough to consider the dignity of others.
Always do so before attempting to impose your philosophy as Dogma; and you will find your thoughts more well received.
If you cannot do so; please populate your new forum, and don't forget to inform us all of its existence.
.
AI

 

[BigT1]

. . . My comment was never directed to you but you and Big T! are supercilious . . . keeping after cysec can not do anything . . . but if people stop investing with cysec regulated firms ,it will simply have to take action for the simple reason that cyprus earns huge cash through investing activities .

res123,
.
There is no doubt that the starving governments of Greece and Cyprus will do almost anything to survive, and have.
The ignorant investing public needs to see examples like these, in order to make obvious that reality.
.
That in no way negates the fact that CySec has a very detailed responsibility to fullfill and document their regulatory responsibilities, in order to remain a member of the EU; and their possible expulsion has never been nearer.
.
You may consider yourself so sophisticated as to understand this reality intrinsically; but many here are not, and do not.
Recognize you are generally speaking to a poorly informed and often victimized public; not a well-heeled gaggle of preening trader geese enroute to a winter retreat after a summer of engorgement.
.
Do you really think a Registered CTA is unaware of the obvious inadequacies of CySec?
Do you really think my advice is to deceive the hopeful victims?
Did you ever consider that what I am trying to do is document the inadequacies?
That the record of these victim filings has more than one purpose?
Not only is it to try to achieve justice for the victims; but if unattained, these complaints form a basis for severe sanction of the Regulator, under the rules of the EU!
Should I call YOU a fool for not having undertstood; as you did others?
Maybe I should. That answer depends on you.
.
AI
.
PS: I am "BigT1" to you, not "Big T!"; please address me correctly as such.
To all others, I am:
Anthony Ingrassia, CTA
NFA ID#: 0278164

 

[AsstModerator]

Well ,you are free to do whatever you want . last words to you ,you are not the only forum on planet .wisdom doesn't need prop to call it itself wisdom .

I was never obsessed to be on this forum . But if misleading people to bark up wrong tree is the guiding principle on this forum so be it .

and don't be mistaken to call yourself Almighty ,it takes 30 minutes for me to create a forum like this .

Some people just never learn. I rarely intervene in threads. You have left me no choice but to smite you.

If you want to become Mod Almighty of your own forum, go ahead. Then you can tell people to ignore using free channels for filing complaints and go straight to lawyers all day long. I think you will find that duplicating the FPA will take a lot more than 30 minutes.


Just because a regulator doesn't respond to a complaint doesn't mean they are useless. The FPA sometimes gets contacted by regulators and police investigators looking for information about forex companies. Every time I've talked to one of them, it's been one-way conversation. They ask, I answer. They can't comment on open investigations. I can only guess what they are thinking based on the questions I've been asked or the people they ask me to help put them in touch with.

 

[Pharaoh]

The simple, sane, and logical approach is:

1. Gather all the evidence.

2. See if you can work it out with the broker. If that fails, then

3. Complaint to police, regulators, websites like the FPA. If you still don't get your money back, then

4. If the money is a large enough, hire a lawyer.

Jumping straight to #4 can waste a lot of time and money. It also doesn't provide the authorities with any information that they might use to help you or to deal with the company later.