New Forum Structure

[scose-no-doubt]

None of them has any intention of helping out at T2W

That is wholly dependent on perception.

 

[pboyles]

That is wholly dependent on perception.

In fact superfundfx is a very good example of where we did help out. Not only did we discover this mistake by the outsourced advertising company but we also highlighted the fact that all previous partner offers were mistakenly available on the website.

 

[wackypete2]

From Monday you are going to see some changes to the way the forums are laid out. This work is long overdue and we are really grateful for all the feedback you have given us in recent times both publicly and privately.
Steve

Is it Monday yet??

Peter

 

[counter_violent]

Well I wouldn't have to persist if you answered the damned question about superfundfx. How many times do I have to ask?

Why do you imagine anyone here needs to answer your damm fool questions
In any case who cares about being banned.

Makes no sense.
So if you don't care about being banned, then why the continual Mary Whitehouse crusade...oh saviour of everyone from themselves.

 

[pboyles]

Calm down. By the way stop editing my posts with poorly spelt mumbo jumbo and smiley faces.

 

[counter_violent]

Calm down. By the way stop editing my posts with poorly spelt mumbo jumbo and smiley faces.

Hows that ?

Right so in case you missed my question. When are you and chums going to start your very own scam busting website?
It's a simple enough question but you seem to be having some difficulty answering and i'm getting tired of asking it.

 

[scose-no-doubt]

Why do you care if you're only a mod CV? Surely you should be impartial and have no vested interest.

 

[pboyles]

Ive answered it previously, I'm not going to. Why, because criminals are hardly going to post their latest scheme on an anti fraud website are they? They are going to post it here.

I may look at doing some sort of website that can pull together information from Companies House, Whois, bankruptcy courts and some other sources like image recognition. It would attempt to automate the searching of numerous sources i do when some of these schemes appear. I've had that idea for a while, I have a developer but he's busy on some other projects now.

 

[neil]

Why not have a scam corner for all scam alerts?

 

[the hare]

Why not have a scam corner for all scam alerts?

That's actually quite a good idea in principle.

In practice its maybe a little more difficult. There's often a very fine line between the enthusiastic idiot fooled by randomness and an out and out scammer. Unfortunately the result for the victim are usually the same !

The definition of a scam is not really cut and dried. I'd argue that someone like James16 for example is a scam. Anyone claiming to be a trader without definitive proof in order to sell a product or service (other than software, charting etc) is suspect. Others would argue that its not a scam, and that the vendor provides useful education.

Then of course there will be the inevitable conflict of interest with advertisers.

t2w would be on dangerous ground categorizing businesses as scams (and by implication endorsing anyone who wasn't labelled a scam), I think they need to use a broader brush, and implement a vendor cess pit, with no holds barred, an environment that encourages robust exchanges with light moderation and a bloody great flashing sign that says buyer beware

 

[pboyles]

Right so in case you missed my question. When are you and chums going to answer the simple question about superfundfx?

It's a simple enough question but you seem to be having some difficulty answering and i'm getting tired of asking it.

 

[pboyles]

From a personal point of view I'm pretty fed-up with your constant attacks on T2W who do, after all, give you the space to expose the scams you find despite the cost and difficulty that gives them. Sure, a few of the things you say have to be deleted for reasons which must be pretty obvious when faced with legal challenge, but most of what you come up with remains and even those which go have usually stayed for enough time for people to have taken note.

It's about bloody time you worked with T2W on these things, not against them.

jon

Barjon,

I'd suggest T2W is skating on thin ice here, you'd be (T2W I mean) better off listening to people who are highlighting these scams rather than attempting to belittle them and threatening to ban them.

T2W is NFA registered and is bound to follow their code of compliance.

Sales Practices and Promotional Material

How many of the partner offers could have breached the code? You are constantly accusing me of attacking you, all I've done is highlight all the scams to you. What should I do, just report them directly to the NFA and let them sort it out? Its your choice.

 

[wackypete2]

T2W is NFA registered and is bound to follow their code of compliance.

Sales Practices and Promotional Material

How many of the partner offers could have breached the code? You are constantly accusing me of attacking you, all I've done is highlight all the scams to you. What should I do, just report them directly to the NFA and let them sort it out? Its your choice.

That code of compliance refers to an NFA member's OWN promotional material only and has no bearing on "partner" type of relationships such as what t2w has with it's advertisers or what other advertisers or posters may place on the forum.

Peter

 

[Shakone]

That code of compliance refers to an NFA member's OWN promotional material only and has no bearing on "partner" type of relationships such as what t2w has with it's advertisers or what other advertisers or posters may place on the forum.

Peter

Really? That's not how it reads to me.

 

[wackypete2]

Really? That's not how it reads to me.

"Compliance Rule 2-29 addresses the content of promotional material and other communications Members have with the public. It covers a wide range of communications including, but not limited to, sales or educational literature, print and electronic advertising, phone solicitations, sales scripts and material used on the Internet. In general, the rule requires, among other things, that..."

It specifically states that it applies to "MEMBERS" promotional material meaning anything that an NFA members uses to promote it's own businesses. The NFA has no authority to regulate non-members advertising (ie: the scammers who post here). Non members can be in violation of CFTC regulations regarding use of investment advice or promotional material however an NFA member is not held responsible for whatever violations occur.

There are always exceptions to rules but generally these are unusual circumstances. How many forums/websites/google adverts ets... carry advertising from questionable sources?

I would suggest you call NFA and CFTC to clarify. Remember what is posted here is NOT t2w's OWN promotional material.

Peter

 

[pboyles]

Well in any case they are bound under a sort of cover all requirement to "observe high standards of commercial honor and just and equitable principles of trade in the conduct of their forex business". They are fx introducing brokers.

My point is that reporting all these scams to T2W and insisting something gets done is not attacking T2W it's helping them. Of course they see it differently.

 

[pboyles]

Pete

Depends on your reading of that phrase. T2W did themselves communicate information to the public. Granted it was about another company but the wording doesn't say the rule only covers communication with the public about your own company. Given their status as an FX IB and the fact the communications were about a managed fx account I'd say it looks a bit shaky.

"Compliance Rule 2-29 addresses the content of promotional material and other communications Members have with the public. It covers a wide range of communications including, but not limited to, sales or educational literature, print and electronic advertising, phone solicitations, sales scripts and material used on the Internet. In general, the rule requires, among other things, that..."

It specifically states that it applies to "MEMBERS" promotional material meaning anything that an NFA members uses to promote it's own businesses. The NFA has no authority to regulate non-members advertising (ie: the scammers who post here). Non members can be in violation of CFTC regulations regarding use of investment advice or promotional material however an NFA member is not held responsible for whatever violations occur.

I would suggest you call NFA and CFTC to clarify. Remember what is posted here is NOT t2w's OWN promotional material.

Peter

 

[Shakone]

"Compliance Rule 2-29 addresses the content of promotional material and other communications Members have with the public. It covers a wide range of communications including, but not limited to, sales or educational literature, print and electronic advertising, phone solicitations, sales scripts and material used on the Internet. In general, the rule requires, among other things, that..."

It specifically states that it applies to "MEMBERS" promotional material meaning anything that an NFA members uses to promote it's own businesses. The NFA has no authority to regulate non-members advertising (ie: the scammers who post here). Non members can be in violation of CFTC regulations regarding use of investment advice or promotional material however an NFA member is not held responsible for whatever violations occur.

There are always exceptions to rules but generally these are unusual circumstances. How many forums/websites/google adverts ets... carry advertising from questionable sources?

I would suggest you call NFA and CFTC to clarify. Remember what is posted here is NOT t2w's OWN promotional material.

Peter

Yes I can see it could be read that way, but it doesn't to me. For example what does "and other communications" refer to. I'd say it could refer to this. Is promoting another company, promotional material, again I'd say yes. I don't know what the NFA means by it, which is key here. It's unclear.

 

[wackypete2]

I see Steve is on the house here. Perhaps he can offer insight.

Peter

 

[the hare]

"Compliance Rule 2-29 addresses the content of promotional material and other communications Members have with the public.

I think it does need clarification by the NFA. However I would probably argue that the t2w partner offers actually serve a duel role,

They are partially promotional because t2w clearly identifies themselves as the sender, and the partner offers generally contain links back to t2w which presumably they want the recipient to click. There is also an implied testimonial that t2w considers the partner offer to be beneficial to its members, and that appropriate due diligence has been undertaken at least to the level that any partner offer would not be in breech of the NFA's guidelines

I'd also argue that the partner offers definitely falls under the "other communications" category. Emails are definitely considered to be a form of communication