(I have NO relation with this broker)
Today, I received an email from MyFxBook about a contest, and the rules of this contest (run by Forex Broker INC) are:
2. Only US or Japanese residents can participate in the ForexBrokerInc Contest
That was surprising, and I had a look at this broker website.
So it seems they are openly and aggressively targetting US customers and are offering 1:500 leverage and no hedging restrictions. By looking a little, it seems that it is a Belize unregulated broker. This kind of behaviour is exactly what will get them troubles with NFA and CFTC.
What do this guys have in mind ? Take as much deposits as possible and run with the money ???
Today, I received an email from MyFxBook about a contest, and the rules of this contest (run by Forex Broker INC) are:
2. Only US or Japanese residents can participate in the ForexBrokerInc Contest
That was surprising, and I had a look at this broker website.
So it seems they are openly and aggressively targetting US customers and are offering 1:500 leverage and no hedging restrictions. By looking a little, it seems that it is a Belize unregulated broker. This kind of behaviour is exactly what will get them troubles with NFA and CFTC.
What do this guys have in mind ? Take as much deposits as possible and run with the money ???