Boiler Room Scams

This is a discussion on Boiler Room Scams within the Educational Resources forums, part of the Commercial category; I have started today a major campaign to complain and gather evidence for SFA and may be a further legal ...

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Old Jan 27, 2012, 12:29pm   #2948
Joined Jan 2012
Re: Boiler Room Scams

I have started today a major campaign to complain and gather evidence for SFA and may be a further legal action,if any one like to join me and supply personal evidence for trading account with FXCM which prove that they are intentionally cheating their live account customers, by way of spikes or slippage please contact me on my private email
amacky@btinternet.com




Quote:
Originally Posted by pboyles View Post
The big issue that FXCM don't want you highlighting is that they were fined $20 million in the US for ripping off US clients. They were not fined by, nor did they have to compensate customers from, other countries. So unless they only ripped off people from the US (highly unlikely) then they are still liable to legal action in other countries. Of course in some countris like the UK there is no interest in investigating them, unless of course someone starts complaining.
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Old Jan 27, 2012, 1:46pm   #2949
Joined Oct 2006
Re: Boiler Room Scams

What I'm trying to tell you is that they have been fined for their slippage practices already. More specifically they were applying asymetrical slippage to accounts, they were passing on all negative slippage but keeping all positive slippage. That is what they were fined for. Therefore all you have to establish is whether they did this to your account or indeed other accounts outside the US. They have not been punished for that or had to repay those customers. If you ask them about this they will refuse to answer.
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Old Jan 27, 2012, 3:40pm   #2950
Joined Dec 2003
Re: Boiler Room Scams

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Originally Posted by pboyles View Post
they were passing on all negative slippage but keeping all positive slippage
Did FXCM get an "Award" for that, perhaps the -

BEST ONLINE FX BROKER FOR RIPPING OFF THEIR CLIENTS WHILE DOING THEIR BEST TO HIDE THE FACT
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Old Jan 27, 2012, 4:05pm   #2951
Joined Jan 2012
Re: Boiler Room Scams

Thank you for the info. my case is based in UK and if you have a reference to the fine that I may look it up, I will be grateful



Quote:
Originally Posted by pboyles View Post
What I'm trying to tell you is that they have been fined for their slippage practices already. More specifically they were applying asymetrical slippage to accounts, they were passing on all negative slippage but keeping all positive slippage. That is what they were fined for. Therefore all you have to establish is whether they did this to your account or indeed other accounts outside the US. They have not been punished for that or had to repay those customers. If you ask them about this they will refuse to answer.
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Old Jan 27, 2012, 5:32pm   #2952
Joined Sep 2008
Re: Boiler Room Scams

Quote:
Originally Posted by wackypete2 View Post
This is interesting. If you type "Fisher Capital Management Scam" the first few results are all their own domain name about safety and reviews but this thread does appear in the middle of the page.

Peter
Quick follow-up on Fisher Capital Management Scam
This same google search today shows this thread has been bumped to page 6. These guys are hard at work posting on every site they can find including many of their own. Regular posting to the facebook account Fisher-Capital-Management-Scam-Safety-and-Reviews keeps that post as number 1 in the search and of course it never mentions Fisher Capital Management and doesn't even talk about scams at all.

This is about as glaring a red flag as you could possibly find.

Peter
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Old Jan 27, 2012, 7:18pm   #2953
Joined Oct 2006
Re: Boiler Room Scams

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Originally Posted by amacky View Post
Thank you for the info. my case is based in UK and if you have a reference to the fine that I may look it up, I will be grateful
Google 'FXCM fined by NFA' and 'FXCM fined by CFTC'. If you can't figure it out from that I'd give up.
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Old Jan 27, 2012, 8:50pm   #2954
Joined Jan 2012
Re: Boiler Room Scams

Quote:
Originally Posted by pboyles View Post
Google 'FXCM fined by NFA' and 'FXCM fined by CFTC'. If you can't figure it out from that I'd give up.
Yes I managed to get that, and a little bit more, found a very interesting story

FXCM slapped with a class action suit over claims of fraud and racketeering | Forex Magnates
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