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  • #81
  • Dec 14, 2007 1:04am Dec 14, 2007 1:04am
Interesting that FXLQ's funds are overseas.

<sarcasm>I bet FXLQ used offshore brokers/banks to hedge/offload client positions.

And guess what?

They requested to have their money back from these offshore brokers and they are getting it.</scarcasm>
  • #82
  • Dec 14, 2007 1:20am Dec 14, 2007 1:20am
Quoting BurgerKing
Interesting that FXLQ's funds are overseas.

<sarcasm>I bet FXLQ used offshore brokers/banks to hedge/offload client positions.

And guess what?

They requested to have their money back from these offshore brokers and they are getting it.</scarcasm>
Sorry for being off-topic, but I have to ask this.

Why do you have a McDonalds avatar, when your name is BurgerKing?
  • #83
  • Dec 14, 2007 1:27am Dec 14, 2007 1:27am
Quoting mazdaz
Sorry for being off-topic, but I have to ask this.

Why do you have a McDonalds avatar, when your name is BurgerKing?
If I Go Broke Trying Then I Will die happy.
  • #84
  • Dec 14, 2007 1:43am Dec 14, 2007 1:43am
Quoting mazdaz
Sorry for being off-topic, but I have to ask this.

Why do you have a McDonalds avatar, when your name is BurgerKing?
I dont know how to spell mc's name?
  • #85
  • Dec 14, 2007 6:18am Dec 14, 2007 6:18am

  1. Theirs no question their not giving you full details; I heard from an informed source CFTC will be stepping in shortly, very shortly!! Similar to a brush fire NFA going to build a case in 3-4 days hand over to big boys with the authority “CFTC” takes over all assets refunds clients then creditors, FX firm and case closed!! “and that’s that” Next.... bet they will be doing this for a couple more FX firms starting Monday ( still time prier to the hoildays). If you have your funds in any “Forex firm” NOT futures brokers make sure you get them out now, seriously!!! Theirs very good speculation that the CFTC/NFA will be exclusively putting this whole market in the hands of the veteran futures brokers. I’m not to sure of the biggest Gains and FXCM;s be taken down, but why not, after all they are the kingpins of bucket shops. I wouldn’t be surprised if they left them for last. clean the smaller under or near under cap and ones in clear violations out first then find reasons to close the bigger ones down, it all makes since and in my opinion would do all of us a world of good. I for one would never open an FX account with an exclusive FX broker again; they became rich off of stealing from their clients’. Theirs a lot of reputable, ethical futures firms with a long history now offing FX why bother risking your funds with these fly by night FX bucket shops. I say clean house!! it’s defiantly time for change..

Anyone what to bet on who will be next FX firm to topple?

  • #86
  • Dec 14, 2007 7:03am Dec 14, 2007 7:03am
The firm below will be the only one's left.

Oanda.
Fxcm.
Gft
Gain
Interbankfx.
If I Go Broke Trying Then I Will die happy.
  • #87
  • Dec 14, 2007 11:31am Dec 14, 2007 11:31am
Quoting Moe
The firm below will be the only one's left.

Oanda.
Fxcm.
Gft
Gain
Interbankfx.
Moe, do u think that fxsolutions will go down? I have account with them, whats your personal opinion on them?

thanks
westie
  • #88
  • Dec 15, 2007 3:57pm Dec 15, 2007 3:57pm
Quoting Moe
The firm below will be the only one's left.

Oanda.
Fxcm.
Gft
Gain
Interbankfx.
Why would these 5 be the only ones left? I see several on the capitalization list closing in on Gain at least in terms of cap, and that's just what they're showing on the books. Why wouldn't others be able to "stay in the game"?
  • #89
  • Dec 15, 2007 4:01pm Dec 15, 2007 4:01pm
Quoting KasperFX

  1. Theirs no question their not giving you full details; I heard from an informed source CFTC will be stepping in shortly, very shortly!! Similar to a brush fire NFA going to build a case in 3-4 days hand over to big boys with the authority “CFTC” takes over all assets refunds clients then creditors, FX firm and case closed!! “and that’s that” Next.... bet they will be doing this for a couple more FX firms starting Monday ( still time prier to the hoildays). If you have your funds in any “Forex firm” NOT futures brokers make sure you get them out now, seriously!!! Theirs very good speculation that the CFTC/NFA will be exclusively putting this whole market in the hands of the veteran futures brokers. I’m not to sure of the biggest Gains and FXCM;s be taken down, but why not, after all they are the kingpins of bucket shops. I wouldn’t be surprised if they left them for last. clean the smaller under or near under cap and ones in clear violations out first then find reasons to close the bigger ones down, it all makes since and in my opinion would do all of us a world of good. I for one would never open an FX account with an exclusive FX broker again; they became rich off of stealing from their clients’. Theirs a lot of reputable, ethical futures firms with a long history now offing FX why bother risking your funds with these fly by night FX bucket shops. I say clean house!! it’s defiantly time for change..

Anyone what to bet on who will be next FX firm to topple?

Sooo..... you don't think there's room for a new company to come into this field... they're only going to allow "firms with a long history" to come into this. If that were true (which I highly doubt), it would be disgusting. Surely, there's room for newer companies to come in and compete. As I mentioned in my last post, there's several firms now on the list that are newer and closing in on those other "established" FX firms. What, do we just want to hand the whole thing over to Deutsch (spelling) Bank and other large banks to parcel out as they please?

Also "bucket shop" is a term that's tossed around at random when some of the practices that are mentioned are not the actions of "bucket shops".

I don't think the CFTC/NFA will do that, but then again, I could be wrong. There are a number of firms beyond the "big 4" or "big 5" that are above the cap requirements and don't have piles of NFA actions against them...
  • #90
  • Dec 15, 2007 4:37pm Dec 15, 2007 4:37pm
forex brokers will increase in teh future. as more and more crackdowns begin, firms will just go overseas then the real problem will ensue.
{Promotion Removed}
  • #91
  • Dec 15, 2007 6:00pm Dec 15, 2007 6:00pm
Quoting Westie
Moe, do u think that fxsolutions will go down? I have account with them, whats your personal opinion on them?

thanks
westie
no fxsol is a strong firm, they also got a large investment of about $100mill.
If I Go Broke Trying Then I Will die happy.
  • #92
  • Dec 15, 2007 6:02pm Dec 15, 2007 6:02pm
Quoting Moe
The firm below will be the only one's left.

Oanda.
Fxcm.
Gft
Gain
Interbankfx.
forgot fxsolution
If I Go Broke Trying Then I Will die happy.
  • #93
  • Dec 15, 2007 6:04pm Dec 15, 2007 6:04pm
Quoting forexfun
Why would these 5 be the only ones left? I see several on the capitalization list closing in on Gain at least in terms of cap, and that's just what they're showing on the books. Why wouldn't others be able to "stay in the game"?
name me one other forex retail broker comes close to any of the broker's above. btw i forgot to put fxsolution on that list.
If I Go Broke Trying Then I Will die happy.
  • #94
  • Dec 17, 2007 8:38am Dec 17, 2007 8:38am
Quoting Moe
name me one other forex retail broker comes close to any of the broker's above. btw i forgot to put fxsolution on that list.
itradefx is at 15 million, FX Solutions is at 19 million. EDIT: You mentioned you forgot to add fxsolutions.

That's just a first glance, there might be a few others.
  • #95
  • Dec 17, 2007 8:42am Dec 17, 2007 8:42am
Quoting forexfun
itradefx is at 15 million, FX Solutions is at 19 million. EDIT: You mentioned you forgot to add fxsolutions.

That's just a first glance, there might be a few others.
that will be the run of the mill, unless your looking at the ecn fx and future brokers .
If I Go Broke Trying Then I Will die happy.
  • #96
  • Dec 17, 2007 4:56pm Dec 17, 2007 4:56pm
It appears that NFA reported that FXLQ is still making an effort to bring back funds as of last week. This effort hopefully shows that they are not running and closing down. I mean if you are going to go bankcrupt, why even bother bringing funds back to a sinking company.

Folks at FXLQ seems to be optimistic about having a big wire by mid week from oversea... and they still have to clear internal auditing before client funds are distributed.

Perhaps things will be cleared up before the new year? It would be a nice Christmas present.
  • #97
  • Dec 17, 2007 10:05pm Dec 17, 2007 10:05pm
To answer your assumption “I mean if you are going to go bankcrupt, why even bother bringing funds back to a sinking company.” Why? Pretty easy answer to that one: if they don’t or try to flea, they will go to jail.

And as for “not closing down, LOL, YOU HAVE TO KIDDING US!! I can’t see how they would be able to stay in any business. Trust me their no longer in the game, case closed.
  • #98
  • Dec 17, 2007 10:26pm Dec 17, 2007 10:26pm
Quoting KasperFX
To answer your assumption “I mean if you are going to go bankcrupt, why even bother bringing funds back to a sinking company.” Why? Pretty easy answer to that one: if they don’t or try to flea, they will go to jail.

And as for “not closing down, LOL, YOU HAVE TO KIDDING US!! I can’t see how they would be able to stay in any business. Trust me their no longer in the game, case closed.
there done, there's no way they can surive this.
If I Go Broke Trying Then I Will die happy.
  • #99
  • Dec 18, 2007 6:29am Dec 18, 2007 6:29am
It's easy to be negative on these boards and pile on when they're down, but every large lot trader I know is confident FXLQ will pull through. FXLQ has been the absolute best to deal with prior to this mess. I've never once expeinced stop hunting or the other shenanigans that other brokers regularly engage in. If it turns out that FXLQ is done, they will be sorely missed by the professional community.

Quoting Moe
there done, there's no way they can surive this.
  • #100
  • Dec 18, 2007 8:47am Dec 18, 2007 8:47am
Are you serious!! Or maybe you’re somehow connected to FXLQ? If you’re so called “large lot” professional community traders feel a firm that steels, misleads everone, moves clits funds offshore, forges company instruments’ and assets to make themselves look bigger is a comfort to do business, I guess you deserve them then. What a joke these FXLQ guys are one big joke, and deserve to be closed down. .
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