FXDD - nice honest outfit

This is a discussion on FXDD - nice honest outfit within the Brokerages forums, part of the Commercial category; I had read the MT4 thread here prev, was shocked as its bandied around as the industry standard. The first ...

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Old Jul 8, 2012, 12:56pm   #9
 
rsh01's Avatar
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Re: FXDD - nice honest outfit

rsh01 started this thread I had read the MT4 thread here prev, was shocked as its bandied around as the industry standard.

The first google return is forexpeacearmy and it says "MT4....is a nasty piece of software" so metatrader haven't done a very good job. Used by 150 brokers - jeez.

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Old Jul 8, 2012, 12:59pm   #10
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Re: FXDD - nice honest outfit

Quote:
Originally Posted by rsh01 View Post
I had read the MT4 thread here prev, was shocked as its bandied around as the industry standard.

The first google return is forexpeacearmy and it says "MT4....is a nasty piece of software" so metatrader haven't done a very good job. Used by 150 brokers - jeez.

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There was a series of videos published by someone with broker access to the plug in showing exactly how slippage could be controlled, prices could be changed after the event and trades cancelled etc. It was all good stuff but it was deleted from all the trading forums and Facebook, Youtube etc very quickly. This is definitely a sensitive issue for the entire industry as it shows just how corrupt and abusive they are.
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Old Jul 8, 2012, 1:03pm   #11
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Re: FXDD - nice honest outfit

It seems a compilation has made it back onto youtube



http://www.trade2win.com/boards/fore...s-setting.html
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Old Jul 8, 2012, 1:05pm   #12
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Re: FXDD - nice honest outfit

Lets see how long this lasts.
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Old Jul 8, 2012, 2:20pm   #13
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Re: FXDD - nice honest outfit

I hope the fine is a high multiple of what they have gained by scamming.

100x + should do it.
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Old Jul 8, 2012, 2:31pm   #14
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Re: FXDD - nice honest outfit

It wont be.
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Old Jul 8, 2012, 4:30pm   #15
 
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Re: FXDD - nice honest outfit

Strange isn't it, particularly in the litigious US, that no-one seems to have taken the damn thing to the courts. I suppose it's a faint hope from the authorities, but one would have thought a criminal prosecution for "incitement to defraud" or some such should be possible. And/or a damages 'class action' type suit from disgruntled clients, particularly where the authorities have fined brokers for the practice.

Or has there?
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Old Jul 8, 2012, 4:42pm   #16
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Re: FXDD - nice honest outfit

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Originally Posted by barjon View Post
Strange isn't it, particularly in the litigious US, that no-one seems to have taken the damn thing to the courts. I suppose it's a faint hope from the authorities, but one would have thought a criminal prosecution for "incitement to defraud" or some such should be possible. And/or a damages 'class action' type suit from disgruntled clients, particularly where the authorities have fined brokers for the practice.

Or has there?
I'm only aware of the CFTC/SEC/NFA actions against several brokers, Gain, FXCM and another one, plus of course FXDD now. There was some talk of a class action against FXCM but Jason was boasting recently of how it had been withdrawn or they had won it, I cant recall.

Even stranger is the fact that FXCM were only required to compensate US based clients, they got to keep what they had obtained from clients from other countries.
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