FXOpen and Basel Financial banned by the Mauritius | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Issues with FXOpen 289 replies

FXOpen and the CFTC 11 replies

FXOpen and FXCompany ???? 16 replies

FXopen ECN 27 replies

Fxopen Are Scammer .................... ............... .. 5 replies

FXOpen and Basel Financial banned by the Mauritius

  • #41
  • May 31, 2010 8:21am May 31, 2010 8:21am
Quoting shrike
So what are the consequences of this decision. Are you still able to place trades? Can you still withdraw your deposit?
Yes and yes.
  • #42
  • May 31, 2010 8:52am May 31, 2010 8:52am
Well anyway licenses do not get canceled without a reason, right?
  • #43
  • May 31, 2010 2:32pm May 31, 2010 2:32pm
Quoting shrike
So what are the consequences of this decision. Are you still able to place trades? Can you still withdraw your deposit?
Yes, I placed some quick scalps and did my usual weekly withdrawal today as normal.
  • #44
  • May 31, 2010 11:23pm May 31, 2010 11:23pm
how you get a time to write all this crap
Fxopen scam shit Bullshit

Quoting Takisd
I trade with FXOpen. End of story. I tested out other brokers, inwhich I have now based my opinion as "I will never touch a US regulated broker with a 10000 foot pole".. Why? Because the NFA is a paid regulatory body, they do not do it for the government, they do it for profit. After FXLQ went down, I lost all trust for the US.

The UK, the financial trouble, and the cost of the GBP has lead me not to trade with them. Although I do like the FSA, at the moment I wont go there. Not at least until Europe has finished its corrupt crap.

As for Australia,...
Charting Markets into the Future...MǎҖ€¥.
  • #45
  • Jun 1, 2010 11:58pm Jun 1, 2010 11:58pm
Quoting MaXeY
how you get a time to write all this crap
Fxopen scam shit Bullshit
As a newbie, I was told that somebody named MaXeY always screaming "SCAM!! SCAM!!". Now I meet you. Well, guess the guy was right about you
  • #46
  • Jun 2, 2010 5:48am Jun 2, 2010 5:48am
FXOpen is a broker that allows traders to trade news however you want.

YET when trader makes money, FXOpen will REMOVE the winner trade claiming you are LAG TRADING... BUT when trade loses money on the newstrade,FXOpen will NOT REMOVE the loser trade.

I do not know what you will call it; but for me, I call it SCAM.

Everything in the world is all about grabing the first opportunity. The moment those traders on the stock market floor hear a news, they all BUY/SELL accordingly. It is the NORM - the defacto reality in the real world market. They are trading before the others get it. Same is true with Forex.

If your broker DOES NOT ALLOW News trading, then they are a BUCKETSHOP trading against you. It is a KNOWN FACT that Newstraders are better than 70% WIN CHANCE. Surely no bucketshit wants a winner and therefore will throw all ludicrous idea to remove profitable trades.

LAG TRADING is NOT ILLEGAL in the REAL MARKET. Why in hell FXOpen claim it is illegal? Maybe because FXOpen is the illegal broker..

If one thinks FXOpen is not offending your trading style, then by all means knock yourself out and dump youir money in here.

As for me, there are a TON of brokers in the whole world far more reputable than FXOpen. I for one am trading on UK Brokers. Dont bother wasting your money when there is absolutely NO guarantee they will ever give your money back.. This is why I trade only with Brokers that accept Credit Card Funding (FXCM, Alpari, IBFX for example). If broker refuses to remit your money, you can always complain with your CC Company.
  • #47
  • Jun 2, 2010 6:20am Jun 2, 2010 6:20am
Look guys, seriously, if FX Open was a scam, as some people are suggesting, why the hell haven't they taken my money? Why the hell haven't they taken my friends money? And yes, money has been paid out in a timely manner.

What's funny is that there are no explanations concerning this latest news, no reasons given, just nothing.

Bottom line is, my account is in good stead, simple as that.
  • #48
  • Jun 2, 2010 8:01am Jun 2, 2010 8:01am
Quoting BurgerKing
FXOpen is a broker that allows traders to trade news however you want.

YET when trader makes money, FXOpen will REMOVE the winner trade claiming you are LAG TRADING... BUT when trade loses money on the newstrade,FXOpen will NOT REMOVE the loser trade.

I do not know what you will call it; but for me, I call it SCAM.

Everything in the world is all about grabing the first opportunity. The moment those traders on the stock market floor hear a news, they all BUY/SELL accordingly. It is the NORM - the defacto reality in the real world market. They...
Good lord... 10 vouches and you still don't know the difference between 'REAL MARKET' and a Market Maker platform...

dude post up their T&Cs and see how you violated them...oh wait, you can't because you and maxey love arguing pointless BS right?..

shame
  • #49
  • Jun 2, 2010 9:07am Jun 2, 2010 9:07am
Read this http://search.asic.gov.au/cgi-bin/gn...=ACN&srchsrc=1
  • #50
  • Jun 2, 2010 9:31am Jun 2, 2010 9:31am
Quoting thetrueblack
Read this http://search.asic.gov.au/cgi-bin/gn...=ACN&srchsrc=1
Does it means they are regulated by australian government now?
  • #51
  • Jun 2, 2010 9:52am Jun 2, 2010 9:52am
Quoting qwertymyfx
Look guys, seriously, if FX Open was a scam, as some people are suggesting, why the hell haven't they taken my money? Why the hell haven't they taken my friends money? And yes, money has been paid out in a timely manner.

What's funny is that there are no explanations concerning this latest news, no reasons given, just nothing.

Bottom line is, my account is in good stead, simple as that.
Got no problem whatsoever with this broker.
Great Bodies are Engineered not Born
  • #52
  • Jun 2, 2010 1:08pm Jun 2, 2010 1:08pm
Still no news about reasons of FSC decision?
  • #53
  • Jun 2, 2010 3:00pm Jun 2, 2010 3:00pm
Quoting RichLadyFX
Got no problem whatsoever with this broker.
That might be because you are Still Losing Money.
  • #54
  • Jun 2, 2010 4:42pm Jun 2, 2010 4:42pm
Quoting Hyper
That might be because you are Still Losing Money.
True... 'problems' by design will only arise when it comes to withrawals
  • #55
  • Jun 2, 2010 5:28pm Jun 2, 2010 5:28pm
Some seemingly more.. neutral(?) info on FXopen

http://www.trade2win.com/boards/fore...y-thought.html
  • #56
  • Jun 2, 2010 9:48pm Jun 2, 2010 9:48pm
Quoting qwertymyfx
Look guys, seriously, if FX Open was a scam, as some people are suggesting, why the hell haven't they taken my money? Why the hell haven't they taken my friends money? And yes, money has been paid out in a timely manner.

What's funny is that there are no explanations concerning this latest news, no reasons given, just nothing.

Bottom line is, my account is in good stead, simple as that.
I bet there were people with refco saying the same thing up until the end...
  • #57
  • Jun 3, 2010 4:53am Jun 3, 2010 4:53am
I will keep an open mind...BUT
1. if they are completely clean why on earth revoke the license?? presumably there is some basis for the regulator to do this that as yet we are unaware of.2.if the license has been revoked why are they still accepting clients and trading for them....??doesnt send the best signal to the regulator
  • #58
  • Jun 3, 2010 9:20am Jun 3, 2010 9:20am
Quoting Topgun
I will keep an open mind...BUT
1. if they are completely clean why on earth revoke the license?? presumably there is some basis for the regulator to do this that as yet we are unaware of.2.if the license has been revoked why are they still accepting clients and trading for them....??doesnt send the best signal to the regulator
1) Nobody seems to know what's going on there. Any word from the other 5 affected companies?

2) The regulator is toothless?
  • #59
  • Jun 6, 2010 2:46am Jun 6, 2010 2:46am
Quoting qwertymyfx
Look guys, seriously, if FX Open was a scam, as some people are suggesting, why the hell haven't they taken my money? Why the hell haven't they taken my friends money? And yes, money has been paid out in a timely manner.

What's funny is that there are no explanations concerning this latest news, no reasons given, just nothing.

Bottom line is, my account is in good stead, simple as that.
Scam brokers wouldn't just take everyon'es money. Its the same as any scam, there has to be good news out there to gte more people in and then a few people are ripped off. I have never traded with fxopen, so i cant say if they are a scam or not, but to me it looks like they are now operating without a licence anywhere. I wouldn't trade with an unregulated broker, especially when there are hundreds of regulated brokers out there!
  • #60
  • Jun 6, 2010 2:48am Jun 6, 2010 2:48am
Quoting Takisd
I will put my life on the line and say, if FXOpen folds or has committed any criminal wrong doing I will stand infront of a firing squad of disgruntled traders on their behalf.
can i watch?
1 trader viewing now