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Issues with FXOpen

  • #101
  • Oct 28, 2007 5:00pm Oct 28, 2007 5:00pm
I did a little more digging on FXOpen.

Fool, John [email protected]
FXOpen
1899-1905 60th Place E.
Bradenton, Florida 34203
United States
13523972678

This is from the GoDaddy Registration database.

The domain is hosted out of Dallas through a hosting company called Softlayer. This is verified by tracerouting the registered domains, and then tracerouting fxopen. They match to the point right before it hits fxopen, where it times out. Their firewall bloacks both traceroutes and pings, though the ip address shows it is in the same domain.

Oh it gets better my friends...

The name and address are fakes. The address was obtained through this site http://www.myus.com/, where the guy didn't even bother to deviate from the example in the FAQ http://www.myus.com/faq/. Scroll down a bit and you'll see what I mean.

Now, the US number given on the site is a residential number (land-line). So my guess is that whoever this is does actually live in Florida. According to a reverse lookup, the number is in Brooksville. The number is provided by Level 3 Communications. And whoever owns this line does not want to be identified. The info is available though for a small price of $15.

The fax number is registered through Global Naps, a network collocation service.The number is based in Chesterfield NH, just a stone's throw from where I used to live.

I could not verify any of the other numbers using reverse lookups in their respective countries.

Given the above information, I would be exceptionally suspicious of this place. They really don't want you to know who they are or where they are located. I'm pretty certain the owner does live in Florida in the US, given that is the main hardline. And I'm definately certain the site is being hosted out of Softlayer. In fact, all their "sites" and partner sites are hosted out of the same joint.

My guess regarding the other numbers is that the "offices" are virtual offices with information forwarding to the main operation (in Florida). They are most certainly not registered with the NFA or CTFC. The fax line in NH is probably managed the same way, along with all their foreign partners who have hotmail and gmail accounts.

However, this is not a one man job. There are probably several individuals involved in this debacle. The forum is vBulletin ( no real development work there), and the website itself indicates at least one person knows how to use DreamWeaver (if they just didn't get someone to develop it for them).

I'd be willing to bet pips to prostitutes that these guys are bad news.

Don't ya just love what you can find out on the internet?

~X~
  • #102
  • Oct 29, 2007 8:18am Oct 29, 2007 8:18am
Xyrus. Amazing !!! uncover more to pull down scammer bunch
  • #103
  • Oct 29, 2007 10:02pm Oct 29, 2007 10:02pm
Well, for $15 you can find out who really owns the main hard-line in Florida, but I'm not going to waste my cash on this bunch of scammers.

But on a related note, most Forex scams such as this have a tendency to be based out of Florida. At least according to the CFTC.

If you have been scammed, report it to the CFTC. They really don't like groups such as this, and they will probably get the FBI to nail them pretty quick.

BTW, just in case anyone thinks that setting up a site like this is hard, here is all that is required:

1. Free customizeable forum software. (Free)
2. DreamWeaver or equivalent web design package. (If you don't download a hacked version)
3. Metaquotes server (?)
4. Adequate hosting ($100 and up per month)
5. Forex data feed ($100 and up per month)

To get this all up and running you could probably do it for less than a few grand in startup costs. Running costs would be less than a few hundred a month. Sucker in about 50 people and you're already turning a profit. Anything else is gravy.

If they were smart, then they are playing the laws of Probability. Most people lose in Forex. If people wipe out, they keep the money (it was never invested anyway). If they don't, they can either mess with the feed so you lose or simply not payout. Either way, they win.

Don't be fooled by fancy advertisements or slick websites. Seriously, with the right toolset a 12 year old could build a decent looking Forex site, complete with secure login and forum. If it doesn't say CFTC of NFA or any other alphabet soup combo on the site, or you can't verify it, THEN DON'T DO BUSINESS WITH IT.

~X~
  • #104
  • Oct 30, 2007 9:20am Oct 30, 2007 9:20am
Quoting Xyrus
I did a little more digging on FXOpen.

Fool, John [email protected]
FXOpen
1899-1905 60th Place E.
Bradenton, Florida 34203
United States
13523972678

This is from the GoDaddy Registration database.
......
Don't ya just love what you can find out on the internet?

~X~
Agree!!

I got my Own DOTCOM and it is easy to change the WHOIS information
I can change my address to anywhere I want ... and I feel this FXOPEN guys did it ...

and also something feels wrong when you look at to the registration name ... John Fool? 'FOOL'???? someone is trying to make a fool to others or what? wonder how many americans got FOOL for their family name

for Erlan .. Wow!!! you are very famous now ... I see your posting everywhere .. but In my humble Opinion ... you are very very stupid too (sorry)

If I can afford to loose $50000 on FX Trading then I prefer to throw it to some NFA brokers (with very clear address etc)

I dunno wich one is right .. FXOPEN or Erlan .. (I don't care)


---
check that I also wandering at 'their' forum too .. asking here asking there and open my ears (I mean my eyes) to see what happen next with this broker. think if 'those' guys will disband me from 'their' forum after read my posting here .. dum .. dim .. dam
Forever Newbie
  • #105
  • Nov 25, 2007 3:01pm Nov 25, 2007 3:01pm
Hello everyone,
Very glad that banning time is finished and rule #3 was changed by Administration of Forex Factory , this is very good step and I do appreciate it a lot.
So, more than 2 months from the scandal "erlan's" case, I think some results can be discussed here...
1. No any official requests has been sent to our company from FBI, Interpol or Police.
2. "erlan" and Co. has been dissapear and no any news for a month already ( video conference proposal was declined by "erlan").
3. The person named "erlan" approved by himself that he/they was/were using fake documents because "our manager speaks russian which means that we work with russian mafia and want to kill him"...
4. We have proposed some information which gives an idea who might be behind this deal ( erlan.info ).
5. FXOpen didn't dissapear and vanish (as a lot of current members posted here).
6. New promotions has been started.
7. Most of the forums has removed "erlan's" posts as it was just a spam activity. (I have the feeling that simple check of the IP adress of "erlan" will indicate that registration was made either from Russia, Sankt-Petersburgh , either from India) Why this locations? Please check erlan.info

I hope Admin of the forum can change the name of this thread as there is no any single evidence of fraud activity from FXOPen side and atleast 2 facts of fraud (criminal) activity from "erlan" and Co. Why not rename the thread to "FXOpen-Public investigation" for example?

All the best and I hope that logic will be stronger than strong Admin's dislove of FXOpen
  • #106
  • Nov 25, 2007 3:03pm Nov 25, 2007 3:03pm
Quoting untara
Agree!!

I got my Own DOTCOM and it is easy to change the WHOIS information
I can change my address to anywhere I want ... and I feel this FXOPEN guys did it ...

and also something feels wrong when you look at to the registration name ... John Fool? 'FOOL'???? someone is trying to make a fool to others or what? wonder how many americans got FOOL for their family name

for Erlan .. Wow!!! you are very famous now ... I see your posting everywhere .. but In my humble Opinion ... you are very very stupid too (sorry)

If I can afford to loose $50000 on FX Trading then I prefer to throw it to some NFA brokers (with very clear address etc)

I dunno wich one is right .. FXOPEN or Erlan .. (I don't care)


---
check that I also wandering at 'their' forum too .. asking here asking there and open my ears (I mean my eyes) to see what happen next with this broker. think if 'those' guys will disband me from 'their' forum after read my posting here .. dum .. dim .. dam
Maybe there was no 50000$ deposit, what you think?
  • #107
  • Nov 25, 2007 3:13pm Nov 25, 2007 3:13pm
Quoting jjk2
scam or not. i dont think anyone will be dealing with fxopen for a while....that is if they are still around *chuckles.
It is very easy to open an account , deposit and withdrawal the funds thats why FXopen is very popular in Asia and Middle East. Over 10000 new deposited accounts has been opened during the last month.
Our company propose 1:1 to 1:500 leverage which can fill needs of different investors, fixed spread from 2 pips (fixed during the news as well), MT4 trading platform which is very easy to use, 1-2 seconds orders execution time, as most of our clients are Muslims we do propose SWAP free accounts (religion rules), automatic deposit (1-2 seconds) and withdrawal during 24 hours, we do not freeze quots during the news and do allow scalping, multi accounts and debit cards are available as well...welcome bonuses for each new account...I guess this is the reason why clients choose our company.
  • #108
  • Nov 25, 2007 3:17pm Nov 25, 2007 3:17pm
  •  mld
  • | Joined Sep 2007 | Status: Pips Raining Cats & Dogs | 85 Posts
they are all red flags also,
so far you been doing great but, time will say
  • #109
  • Edited 4:20pm Nov 25, 2007 3:29pm | Edited 4:20pm
Quoting Xyrus
Well, for $15 you can find out who really owns the main hard-line in Florida, but I'm not going to waste my cash on this bunch of scammers.

But on a related note, most Forex scams such as this have a tendency to be based out of Florida. At least according to the CFTC.

If you have been scammed, report it to the CFTC. They really don't like groups such as this, and they will probably get the FBI to nail them pretty quick.

BTW, just in case anyone thinks that setting up a site like this is hard, here is all that is required:

1. Free customizeable forum software. (Free)
2. DreamWeaver or equivalent web design package. (If you don't download a hacked version)
3. Metaquotes server (?)
4. Adequate hosting ($100 and up per month)
5. Forex data feed ($100 and up per month)

To get this all up and running you could probably do it for less than a few grand in startup costs. Running costs would be less than a few hundred a month. Sucker in about 50 people and you're already turning a profit. Anything else is gravy.

If they were smart, then they are playing the laws of Probability. Most people lose in Forex. If people wipe out, they keep the money (it was never invested anyway). If they don't, they can either mess with the feed so you lose or simply not payout. Either way, they win.

Don't be fooled by fancy advertisements or slick websites. Seriously, with the right toolset a 12 year old could build a decent looking Forex site, complete with secure login and forum. If it doesn't say CFTC of NFA or any other alphabet soup combo on the site, or you can't verify it, THEN DON'T DO BUSINESS WITH IT.

~X~
Hello Xyrus,
I think you have no idea of what are you talking about and this is normal...

1. Forum software is cheap (from 0 to 200$ + 100$ license) but try to increase amount of the users and posts as FXOpen did per 1 year (just count how much adver cost)
2. fxopen.com was designed and builded by FXOpen IT department, you will not find templates for it. Try to create trader's cabinet with the same options as FXOpen has and count how long it will take and how much it cost (I bet that You will be shocked)
3. MT4+2 servers price is 100K ( You can check by yourself). Each new server (for Demo, PDA, Mobile phone, BackUp server) cost from 10K to 20K each (FXOpen has 5 servers a the moment)
4. Hosting is cheap ( )
5. Forex data feed (quots) 2.5K to 5K per 1 month and we have 2 quots sources (1 as Backup)

So, just to start You will need 200K-300K (without adver and without paying a sallary). If you can open a Broker for "less than a few grand in startup costs" please inform me I want to see this.

If everything is so simple and cheap ( "Seriously, with the right toolset a 12 year old could build a decent looking Forex site") you need to open a Brokerage company (there is nothing illegal in this activity).

Have nothing against You, but information you are posting is wrong and is based on wrong impression You have.
Anyway, wish you all the best in the trading!
  • #110
  • Nov 25, 2007 3:32pm Nov 25, 2007 3:32pm
Quoting mld
they are all red flags also,
so far you been doing great but, time will say
Yes, time will show.
  • #111
  • Nov 25, 2007 4:29pm Nov 25, 2007 4:29pm
Quoting FXOpen Admin
Over 10000 new deposited accounts has been opened during the last month.
10000 (Ten Thousand) new accounts in a month ? I highly doubt that! FXCM is far more popular than FXOPEN and FXCM dont get more than 10K of new accounts a month. How I know that? I compare account numbers of traders who opened live accounts!

I think FXOpen should be listed in the HYIP directory (hyipmonitor.com) instead of Forex Brokers ..

Quote
Yes, time will show.
And...umm... by that time, what happens? you will be gone?
  • #112
  • Nov 25, 2007 4:33pm Nov 25, 2007 4:33pm
hi mr. FOOL, what a nice name
  • #113
  • Nov 25, 2007 4:43pm Nov 25, 2007 4:43pm
Quoting FXOpen Admin
Yes, time will show.
BTW, why you bother writing this messages? your website stoped working days ago, better go to fix your server... because you have a server... don't you? or got baned from free webhosting like geocities? je je je
Ado Whether you believe you can do a thing or not, you are right.
  • #114
  • Nov 25, 2007 4:53pm Nov 25, 2007 4:53pm
I'd forgotten all about FXOpen until they bumped this thread. Seems kind of self destructive to bring attention to themselves again. Keeping a low profile might be the wiser move.
  • #115
  • Nov 25, 2007 6:32pm Nov 25, 2007 6:32pm
Hey Gang,

I have just added FXOpen to the list of brokers so for any of you that have traded w/ them live please feel free to leave a review.
  • #116
  • Nov 25, 2007 7:10pm Nov 25, 2007 7:10pm
i think if u listened to some of the conversation with Earlan, u'll find the odds are against FXopen.

i mean is FXopen so poor that they disguise their own phones with mobile? that was pretty funny in the conversation when "....the mobile phone cannot be reached" message came out.


anyhow, if ur trading 50k and above, best not trade forex. trade futures.
{Promotion Removed}
  • #117
  • Nov 26, 2007 9:53am Nov 26, 2007 9:53am
Quoting highway
No matter what, no newbie nor anyone deserve such treatment. Maybe you want to say something else, you don't mean the word deserve?
It boils inside me when I hear how unfair and crooked some people are.

Just don't think that being christians your are brothers. Neither for the muslims. Maybe if you are with the free mason, you are better of. LOL

What perfect thoughts!!! I appreciate and thank you very much. No matter who they are we should always be in the favour of people being scammed and help them.
  • #118
  • Dec 13, 2007 10:59am Dec 13, 2007 10:59am
Quoting melpheos
Rolf... Imagine the signature for Microsoft... "Friggin' CEO of Microsoft i own you all"
That's the funniest signature of all time, I still have tears in my eyes and Pepsi flowing out my nose. . . Don't drink and read at the same time
  • #119
  • Dec 15, 2007 8:01pm Dec 15, 2007 8:01pm
Quoting FXOpen Admin
It is very easy to open an account , deposit and withdrawal the funds thats why FXopen is very popular in Asia and Middle East. Over 10000 new deposited accounts has been opened during the last month.
Our company propose 1:1 to 1:500 leverage which can fill needs of different investors, fixed spread from 2 pips (fixed during the news as well), MT4 trading platform which is very easy to use, 1-2 seconds orders execution time, as most of our clients are Muslims we do propose SWAP free accounts (religion rules), automatic deposit (1-2 seconds) and withdrawal during 24 hours, we do not freeze quots during the news and do allow scalping, multi accounts and debit cards are available as well...welcome bonuses for each new account...I guess this is the reason why clients choose our company.
something is missing here

DO YOU PRINT MONEY ??

cheap cheap >>> sheep

BTW very funny stuff ( i bet 5 tons of printed money ur a lady )
  • #120
  • Dec 15, 2007 8:43pm Dec 15, 2007 8:43pm
Since someone dragged this thread up to the top again, I'll add my review.
I'm not posting this to try to influence anyone to open an account
with FXOpen, but I would like to add my experience to this discussion.

I often test brokers with a small amount of capital to test
their live trading conditions and withdrawal process.
When I do this I trade very aggressively to fully test any problems
with scalping or slippage.

I was fully aware of the Erlan scam alert, and went into this with
my eyes wide open. I accepted the risk that I may loose all of my
capital with this new broker.

I opened the account in September 2007 and have done several
withdrawals since. No problems there.

I have had one notable experience which was a false spike on one
of their symbols which caused a margin call on my account.

Apparently the quote provider said that the spike price was
legitimate and that they would not reverse their decision.

To FXOpen's credit, they did the right thing and reversed the
margin call and reinstated the position at their own expense.

They had an opportinity to scam me here, but they didn't.
By this time the account had grown considerably, and this
was a non-trivial amount.

I'll probably get flamed for posting this, but this has been
a genuine test of FXOpen, and so far I have not been dissapointed.

Coder
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