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What does it take for the FPA to declare a company to be a scam?

Discussion in 'Forex Peace Army FAQ and Knowledge Base' started by AsstModerator, Nov 3, 2015.

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  1. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    What does it take for the FPA to declare a company to be a scam?

    Generally, it takes 3 or 4 qualified New Traders Court complaints where the company fails to respond or responds inadequately. In cases of obvious failure to pay money owed backed by sufficient evidence, 2 qualified cases can be enough. If a regulator or other government agency steps in and takes action, a scam finding may require only one or even no New Traders Court complaints.

    Other than issues back by regulator or government actions, there is a vote. The vote thread is for whether or not the qualified complaints are sufficient to meet the level of Scam or not.

    The idea behind not declaring a company to be scam based on one complaint is to give a company a chance to resolve issues. It does take longer to get a Scam label this way, but also results in more problems being fixed and more traders getting money owed to them repaid.

    If you are one of the first to leave a review, open a thread, and take the steps necessary to get it qualified, don't sit by after your vote and say the FPA isn't doing anything. The FPA doesn't charge for its services and has limited staff. Instead, jump into any new Scam Alerts threads belonging to traders having problems with the same company. Help those traders through the escalation process.


    Related Questions

    Been scammed and want to know what to do? CLICK HERE to learn the First Steps you should take.

    Done the first steps and ready to file a case? CLICK HERE to find out how.

    Other Scam and Traders Court Questions? CLICK HERE
     
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