"All TRADERS ALERT!!!!!!
As some may have heard, FXLQ is the latest in the assault on forex
brokers, in the complaint filed (http://www.bluecollartradingsociety....cumentFXLQ.PDF) Robert Gray is supposed to have lied about the funding and resources available to
him for FXLQ. (although at this time, only 300k is enough to do business
in the CTFC).
For those that may not know FXLQ also provided liquidity for quite a
few brokers out there, overseas as well as here in the US. As a company
they arein the EU as a presence, and even China, how can such a large company
get to this point?
Here is the real issue, WHY didn't the CTFC and the NFA , validate
FXLQ? they certainly accepted a fax piece of paper and a phone call ? Did
the "drop the ball", "screw the pooch" and now covering up by destroying it,taking our money with it?
Here is what I do know, a source inside the company says they have
ALL of the customers funds in Newport Beach CA, segregated from the business
funds. The NFA has 2 auditors on site attempting to co-mingle this with the
business accounts to cause the company to show as being deficient.
(hence bankrupt)
If the company has the funds to release to the customers, why is
Jennifer(NFA) forcing them to hold it? More importantly, is Jennifer
looking out for the customers, or her own agenda(or boss's).
I have contacted my senator, CTFC, and also a lawyer in California to
look into this matter, if there is some method to file suit on the
individuals responsible for not only the mismanagement of this fiasco as well as
the blatant lack of "Background check" on this company and Robert Gray.
Anyone out there that is in forex and a lawyer both, contact me,
[email protected] ,(the more the merry) I do know, the broker as well
as the overseeing agency have not been honest, nor do they care about
you and I as a small investor working on our future. The only way to change
that is to have a voice heard, to change the rules, to protect us, not them.
FXLQ representative has no reason to lie, there jobs are probably
toast, retail business will shut down as no one will put money in there
again, so I don't see where she would lie, on the other hand, does the NFA have a
reason? maybe to cover thier own inadequacies and screwups in all
forex matters?.
Here is what WE as a forex group need to do.
Contact your congressman, shed some light on this matter, repost this
message anywhere you wish. contact the NFA, Chicago Office, (312) 781-
1300 ask for whom is in charge of the Forex Liquidity LLC case and demand
why don't they release the funds.
Check with your current broker, and DEMAND that they disclose the
liquidty provider(with verifiable proof), if they do not, REMOVE your FUNDS.
Several Mt4 brokers used FXLQ as the liquidity provider, so be careful, at
one time Interbank FX was also in that group.
Contact the CTFC,
Customer Protection
File a Complaint with our Reparations Program
Report Suspicious Activities or Information to the CFTC
202-418-5250
866-366-2382
Complain and force them with numbers to straighten out the Forex
business, and release customer funds FIRST. We used to be the small voice, now
we are 50 million+ dollars a day in funds, we can have a voice in our future.
For others in this same boat, Good luck ..... and don't let them tell
you "buyer beware" that is why our tax dollars pay them as one of the
biggest "welfare" recipients in our nation.
Don't forget the 5 million requirement is looming on the 21st of DEC,
if your part of these brokers, start thinking about your money.(reposted
from FX Street thanks to "Forexscholar" for the research.....)
1) SNC Investments: $1,152,000
They are well below the $5 million capital requirement. It is highly
unlikely they will make the new requirement at this point. I advise
customers to leave this firm and look for greener pastures.
2) Wall Street Derivatives: $1,228,000
This firm is based out of New Zealand and I'm not even sure they have
any U.S. customers as their U.S. website is out of service.
3) Advanced Markets: $1,322,000
Amifx is already teetering on the brink as they are the subject of a
business conduct committee case before the NFA in which they are
cited for a whole host of financial violations including not meeting the old
capital requirement. This firm does not have much of a future.
4) Hamilton Williams (VelocityFX): $1,345,000
This firm is a train wreck. They just got fined $90,000 by the NFA
for not meeting the old capital requirement. Then they lost their liquidity
provider when FXLQ got shut down. Now they can't accept any customers from
their unregistered introducing brokers. This firm is literally on life
support. Do yourself a favor and stay the hell aware from them before the
regulators pull the plug on them once and for all.
5) Solid Gold Financial: $2,040,000
Solid Gold's future is now in serious doubt. Like many of the other
firms on this list they have been charged by the NFA with failing to meet their
existing capital requirement. When you can't meet the old requirement
it stands to reason you won't be able to meet the new one either. Solid
Gold is anything but a solid investment at this point.
6) Bacera Corporation: $2,300,000
Like a turd that won't flush Bacera Corporation just refuses to go
down the drain. The Savior wrote Bacera off over the summer as sources
knowledgeable about them stated they were going to close up shop. But no, they are
still hustling the folks in LA for fresh deposits. In September Bacera
settled a complaint with the NFA after it was discovered they were
undercapitalized to the tune of $1.2 million. NFA reported Bacera only has about 200
customers as it is. But to those 200, do yourself a favor and get yourself
another broker because sooner or later the pipes are gonna get cleaned and
these guys are going to get flushed once and for all.
7) GFS Futures & Forex: $2,353,000
This firm is in an especially tight fix. They offer 200:1 leverage
which means they need to come up with $10 million. And as this number shows
they are far, far away from that.
8) Forex Club: $3,320,000
They still have not hit the minimum $5 million mark. And don't forget
since they are a market maker they have other financial requirements to
meet as well. They still haven't publically done so.
9) Easy Forex: $3,789,000
Under siege for their sleazy sales tactics, it's hard to imagine the
NFA isn't going to drop the hammer on them soon.
10) Money Garden: $5,035,000
While they have crept up over the $5 million mark MG is notorious for
their 400:1 "flexi" accounts which will require MG put up a minimum $10
million in capital in addition to other financial requirements for being a market
maker. They are not even close to doing this despite their CEO's
insistence they could easily get the money last summer. It looks like this
veteran of the industry is about to be forcibly retired.
Y'all call if you want, will be glad to talk, even to the media.
Andy <> Stapleton
830.232.4241"
As some may have heard, FXLQ is the latest in the assault on forex
brokers, in the complaint filed (http://www.bluecollartradingsociety....cumentFXLQ.PDF) Robert Gray is supposed to have lied about the funding and resources available to
him for FXLQ. (although at this time, only 300k is enough to do business
in the CTFC).
For those that may not know FXLQ also provided liquidity for quite a
few brokers out there, overseas as well as here in the US. As a company
they arein the EU as a presence, and even China, how can such a large company
get to this point?
Here is the real issue, WHY didn't the CTFC and the NFA , validate
FXLQ? they certainly accepted a fax piece of paper and a phone call ? Did
the "drop the ball", "screw the pooch" and now covering up by destroying it,taking our money with it?
Here is what I do know, a source inside the company says they have
ALL of the customers funds in Newport Beach CA, segregated from the business
funds. The NFA has 2 auditors on site attempting to co-mingle this with the
business accounts to cause the company to show as being deficient.
(hence bankrupt)
If the company has the funds to release to the customers, why is
Jennifer(NFA) forcing them to hold it? More importantly, is Jennifer
looking out for the customers, or her own agenda(or boss's).
I have contacted my senator, CTFC, and also a lawyer in California to
look into this matter, if there is some method to file suit on the
individuals responsible for not only the mismanagement of this fiasco as well as
the blatant lack of "Background check" on this company and Robert Gray.
Anyone out there that is in forex and a lawyer both, contact me,
[email protected] ,(the more the merry) I do know, the broker as well
as the overseeing agency have not been honest, nor do they care about
you and I as a small investor working on our future. The only way to change
that is to have a voice heard, to change the rules, to protect us, not them.
FXLQ representative has no reason to lie, there jobs are probably
toast, retail business will shut down as no one will put money in there
again, so I don't see where she would lie, on the other hand, does the NFA have a
reason? maybe to cover thier own inadequacies and screwups in all
forex matters?.
Here is what WE as a forex group need to do.
Contact your congressman, shed some light on this matter, repost this
message anywhere you wish. contact the NFA, Chicago Office, (312) 781-
1300 ask for whom is in charge of the Forex Liquidity LLC case and demand
why don't they release the funds.
Check with your current broker, and DEMAND that they disclose the
liquidty provider(with verifiable proof), if they do not, REMOVE your FUNDS.
Several Mt4 brokers used FXLQ as the liquidity provider, so be careful, at
one time Interbank FX was also in that group.
Contact the CTFC,
Customer Protection
File a Complaint with our Reparations Program
Report Suspicious Activities or Information to the CFTC
202-418-5250
866-366-2382
Complain and force them with numbers to straighten out the Forex
business, and release customer funds FIRST. We used to be the small voice, now
we are 50 million+ dollars a day in funds, we can have a voice in our future.
For others in this same boat, Good luck ..... and don't let them tell
you "buyer beware" that is why our tax dollars pay them as one of the
biggest "welfare" recipients in our nation.
Don't forget the 5 million requirement is looming on the 21st of DEC,
if your part of these brokers, start thinking about your money.(reposted
from FX Street thanks to "Forexscholar" for the research.....)
1) SNC Investments: $1,152,000
They are well below the $5 million capital requirement. It is highly
unlikely they will make the new requirement at this point. I advise
customers to leave this firm and look for greener pastures.
2) Wall Street Derivatives: $1,228,000
This firm is based out of New Zealand and I'm not even sure they have
any U.S. customers as their U.S. website is out of service.
3) Advanced Markets: $1,322,000
Amifx is already teetering on the brink as they are the subject of a
business conduct committee case before the NFA in which they are
cited for a whole host of financial violations including not meeting the old
capital requirement. This firm does not have much of a future.
4) Hamilton Williams (VelocityFX): $1,345,000
This firm is a train wreck. They just got fined $90,000 by the NFA
for not meeting the old capital requirement. Then they lost their liquidity
provider when FXLQ got shut down. Now they can't accept any customers from
their unregistered introducing brokers. This firm is literally on life
support. Do yourself a favor and stay the hell aware from them before the
regulators pull the plug on them once and for all.
5) Solid Gold Financial: $2,040,000
Solid Gold's future is now in serious doubt. Like many of the other
firms on this list they have been charged by the NFA with failing to meet their
existing capital requirement. When you can't meet the old requirement
it stands to reason you won't be able to meet the new one either. Solid
Gold is anything but a solid investment at this point.
6) Bacera Corporation: $2,300,000
Like a turd that won't flush Bacera Corporation just refuses to go
down the drain. The Savior wrote Bacera off over the summer as sources
knowledgeable about them stated they were going to close up shop. But no, they are
still hustling the folks in LA for fresh deposits. In September Bacera
settled a complaint with the NFA after it was discovered they were
undercapitalized to the tune of $1.2 million. NFA reported Bacera only has about 200
customers as it is. But to those 200, do yourself a favor and get yourself
another broker because sooner or later the pipes are gonna get cleaned and
these guys are going to get flushed once and for all.
7) GFS Futures & Forex: $2,353,000
This firm is in an especially tight fix. They offer 200:1 leverage
which means they need to come up with $10 million. And as this number shows
they are far, far away from that.
8) Forex Club: $3,320,000
They still have not hit the minimum $5 million mark. And don't forget
since they are a market maker they have other financial requirements to
meet as well. They still haven't publically done so.
9) Easy Forex: $3,789,000
Under siege for their sleazy sales tactics, it's hard to imagine the
NFA isn't going to drop the hammer on them soon.
10) Money Garden: $5,035,000
While they have crept up over the $5 million mark MG is notorious for
their 400:1 "flexi" accounts which will require MG put up a minimum $10
million in capital in addition to other financial requirements for being a market
maker. They are not even close to doing this despite their CEO's
insistence they could easily get the money last summer. It looks like this
veteran of the industry is about to be forcibly retired.
Y'all call if you want, will be glad to talk, even to the media.
Andy <> Stapleton
830.232.4241"