Issues with FXOpen

some of your posts deleted coz you send ads for products.

for small money trader, they pay ok. But if someone deposit big money, they tried to scam them

hey guys,

this is my first post here. I am usually never to be one to post anything much but usually just a passive viewer of threads but this time i am compelled to post this news as i feel as a community member it is my responsibility> I just saw a very disturbing article at www.fscmauritius.org under what's new section on home page and the article is titled 'Revocation of global business License"

FSC is the regulatory body in Mauritius. Though Mauritius is an offshore financial center but it is a very respected jurisdiction with strict laws and global monetary compliance. Just today i saw the article that states FXOPEN license had been revoked. reasons are not stated clearly but it seems it has to do with the AML and other guidelines that are not being followed.

I am actually very glad and at the same time concerned as fxopen has many clients and though i had warn many people that they had to be careful with fxopen has they never seem to follow KYC and AML acts and had a lot of unlicensed payment solutions.

I am currently with another Mauritius broker which is safe and not in the list but do not want to name the broker as i am not trying to advertise here and neither am i an IB or anything...just wanted to share my finding and wanted people to know that if you are gonna go with an offshore broker since it has many advantages ...do choose the right broker and the right jurisdiction...to me mauritius FSC had proven that they do not take things lightly and are well regulated...bravo to them...and to fxopen...i do hope they clear their name with FSC since i too have many frineds that trade with them and i do hope they learn their lesson and let this be a lesson to all other brokerage companies that as mush as growth in business is important...please for HEAVEN sake go by the rules....we traders are the ultimate vistims here.

that is all for now and happy trading

vincent sawyer
the watchdog http://www.fxstreet.com/forum/images...icon_smile.gif

Thanks for your post.

I am planning to open my PAMM account at fxopen to manage my client's account but after reading your post here i'm a bit concern. How did you come to a conclusion that they are scam?

What broker would you recommend that also offer PAMM?

Thanks for the input.

edit: will post later.

Been trading with fxopen for 1 1/2 year now. Got no issues whatsoever. Should i be alarmed?

From forum posts riddled with inexperience and bias? Nah

http://www.forexfactory.com/showthread.php?t=238678

I know personally 2 people who got their profits ERASED by this broker

NOW they lost their license in Mauritius , get out your money if you still have some left

http://www.forexfactory.com/showthread.php?t=238678

Hard to believe.. In my country, Indonesia, FXOpen have opened their office, registered as FXInd. I trade with FXInd for about only 2 months. Very short time of course. But I do trust them, their service is very good. My friends are also very satisfy with them. And today I read those kind of articles... I guess I'm going to withdraw my money and wait for futher explanation. And in Monday, I'm going to their office to ask about this thing directly to them.

Well congratulations, looks like they are getting the results they wanted..

hi, i believe FXOpen business operation will continue as normal.

Artod, feel free to contact me directly if you need assistance.

Brokers, specially market markers, are like the house when you go to a casino, if you think that you can make huge profits and run, you are so fool, they will never lose, they prefer a demand or a bankruptcy than to lose, what you have to do always in this game is the following: first, open an account with the minimum deposit, trade during a few months and when you double up your account, withdraw all the money, if they don't give your money back, you will know that they are a scam, always take copies of your historical statement to have proves in case you want to demand them. If they give you your money back, then, make the second deposit, with 10% of all the money you want to invest, and make the same operation, when you double up your account, withdraw all the money, at this point, if the broker remains reliable, then, make the real deposit with all the money you want to invest. Don't show all your cards in the first hand. This is not a wonderful world where you can became rich quickly, this is a place where the most intelligent scammers are in, and you have 95% of probabilities of being always the victim. Sorry for my bad english. Regards.

Trading with them for 5 months with 2000 Dollars...withdrawed 2 times and its in my account in less than 20 hours

What is with this thread?

it's all garbage bro, don't worry

congrats on your trading

I recommend getting an external hard drive and using this free software to record the screen http://camstudio.org/ then you can't have a dispute over something that did or didn't happen you'l have proof or no argument instead.

yesss seb, good idea

gonna give u 1v for you geniussness, oh wait done it already!~

superstar

i love this post!

FXOpen got banned by the Mauritius financial commission

http://www.forexfactory.com/showthread.php?t=238678


BUT ,please open an account NOW because it's all garbage and rumors LOL

and i love that you love this post!!!