Class Action Lawsuit Against FXCM | Page 11 | Forex Factory

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Class Action Lawsuit Against FXCM

  • #201
  • Feb 16, 2011 4:25am Feb 16, 2011 4:25am
seems the stock market didnt like the grounds of the law suit , FXCM stock UP

http://finance.yahoo.com/echarts?s=F...urce=undefined
  • #202
  • Feb 16, 2011 5:34am Feb 16, 2011 5:34am
Quoting tar
seems the stock market didnt like the grounds of the law suit , FXCM stock UP

http://finance.yahoo.com/echarts?s=F...urce=undefined
Quoting cloggie
Of course it is, just news traders and bots catching a ride. Nothing...
This is a non event. Just a noobie trader who lost 150k and has nobody to blame but himself.

I especially liked this one:
Quoting Porkpie
c. Flash Trades: Defendant, in a practice known as “stop hunting,” manipulates the market price of the traded currency, including printing bogus “flash trades” which move the “market” to trigger the customer’s stop order for a given trade, essentially closing the customer out of that trade
FXCM has what, a couple of thousand customers trading a couple of Bn and little old FXCM manipulated the entire FXCM feed/Interbank feed to hunt the stops of a couple of lots from this guy by generating flash orders? He may need to read up a bit on what flash orders really are before throwing around some terminology he read on babypips.

Get real please. This guy is a muppet and the suit won't go anywhere. This is just a PR stunt to force the br0ker into a settlement and they are not biting.

Al we are going to see now are a few more br0kers getting sued by opportunists.
  • #203
  • Feb 16, 2011 5:43am Feb 16, 2011 5:43am
looool @ flash orders
  • #204
  • Feb 16, 2011 5:46am Feb 16, 2011 5:46am
Quoting tar
looool @ flash orders

Heh, what did you expect, the guy is clueless, as are the majority of retailers.
  • #205
  • Feb 16, 2011 6:01am Feb 16, 2011 6:01am
Quoting iTrader
http://businesstrialgroup.com/2011/0...-forex-dealer/

FXDD next.

Snowball rolling down the hill and getting bigger, lets see if it becomes an avalanche.

It is hardly a snowflake, let alone a ball or avalanche. Just a few !d!ot retailers that can't own up to their own stupidity and are using the press to force some br0kers to capitulate. Neither of these suits will go anywhere, as neither of them have a case. You can't sue someone else for your own ignorance, lack of knowledge and experience.
  • #206
  • Feb 16, 2011 6:06am Feb 16, 2011 6:06am
cloggie, the biggest joke on this forum
  • #207
  • Feb 16, 2011 6:10am Feb 16, 2011 6:10am
Quoting Forexia
I said it will never happen as a real functioning centralized exchange. They can create a "central exchange" and force us to use it but nobody would use it and nobody would trade on it. So that's the equivalent of "never" happening.
Ok, now you are ready for the comment period to begin. Not that it will make one bit of difference, but your argument is much clearer now.
  • #208
  • Feb 16, 2011 6:29am Feb 16, 2011 6:29am
Quoting PoundTrader
cloggie, the biggest joke on this forum
Brokers "and those similarly situated" to use a term from the class action are entitled to their opinions as well
  • #209
  • Edited 9:34am Feb 16, 2011 8:34am | Edited 9:34am
Quoting pip_seeker
Ok, now you are ready for the comment period to begin. Not that it will make one bit of difference, but your argument is much clearer now.
Well it's true and if you read and understood the rest of my comment, you will see why. IF they are stupid enough to create a "centralized exchange" for SPOT FX market it will be because those bubbleheads of regulators choose to ignore the nature of a market, refuse to protect us small investors and eventually conjure up those useless "solutions" to serve their own agenda. It's not their first time and it won't be their last.

But regardless I will still be proven right; I just hope we can still continue our trading business no matter what happens.
Make your losses in demo. Earn your profits live.
  • #210
  • Feb 16, 2011 8:47am Feb 16, 2011 8:47am
Quoting cloggie
It is hardly a snowflake, let alone a ball or avalanche. Just a few !d!ot retailers that can't own up to their own stupidity and are using the press to force some br0kers to capitulate. Neither of these suits will go anywhere, as neither of them have a case. You can't sue someone else for your own ignorance, lack of knowledge and experience.
Hear Hear!! Especially fishy that this guy waited for years until he lost $150,000 to do something. Oh well, there are gonna be a lot really fat rich lawyers in town!

FXCM better not settle cuz that's gonna open doors for lot more lawsuits to come. Those vulture lawyers won't give up once they smell blood.
Make your losses in demo. Earn your profits live.
  • #211
  • Feb 16, 2011 9:43am Feb 16, 2011 9:43am
Quoting cloggie
It is hardly a snowflake, let alone a ball or avalanche. Just a few !d!ot retailers that can't own up to their own stupidity and are using the press to force some br0kers to capitulate. Neither of these suits will go anywhere, as neither of them have a case. You can't sue someone else for your own ignorance, lack of knowledge and experience.
bullschitt as usual from you, go learn a little bit more about justice and law and come back mr. guru
consistency wins
  • #212
  • Feb 16, 2011 10:03am Feb 16, 2011 10:03am
Quoting iTrader
bullschitt as usual from you, go learn a little bit more about justice and law and come back mr. guru

Aahhh, I got myself another little cyber stalker. Better guys then you have tried and failed kiddo.
  • #213
  • Feb 16, 2011 10:14am Feb 16, 2011 10:14am
stock drop again on monthly metrics
  • #214
  • Feb 16, 2011 10:20am Feb 16, 2011 10:20am
Quoting cloggie
Aahhh, I got myself another little cyber stalker. Better guys then you have tried and failed kiddo.
little boy pumps his chest out
  • #215
  • Feb 16, 2011 6:33pm Feb 16, 2011 6:33pm
People fail to understand that the lawsuit in itself is not important, the buzz,talk and publicity around it, is.

Why? Because it can make others do the same and a trend could emerge. And this trend can become so big that the crooks at the NFA or CFTC will have to deal with it.

It is ok to come to forums and talk about brokers tricks but you have to understand that in doing this you are just tickling them. A whole bunch of psots here will not do as much damage but a simple small claims or call to BBB will work wonders on the long run, especially if you come back here and tell everybody.

This guy Mr Sanders is helping even you guys that are bashing him. If he win or lose the case it does not matter much,the news got a lot of attention the damage to FXCM is already done and others will come
  • #216
  • Feb 16, 2011 8:00pm Feb 16, 2011 8:00pm
Quoting Platypus
This guy Mr Sanders is helping even you guys that are bashing him. If he win or lose the case it does not matter much,the news got a lot of attention the damage to FXCM is already done and others will come
Those who are bashing him are most likely not real traders. Keep in mind everyone posts here anonymously including brokers, their reps, affiliates and anybody else who have a vested interest with brokers. I think that this class action could change the forex industry forever and as traders we should support any push for fairness and transparency. Brokers have been doing whatever they want for too long, it's time to level the field.
  • #217
  • Feb 16, 2011 8:08pm Feb 16, 2011 8:08pm
He's going to have to prove the claims. That's going to be very hard to do.
  • #218
  • Feb 16, 2011 8:20pm Feb 16, 2011 8:20pm
Quoting Platypus
People fail to understand that the lawsuit in itself is not important, the buzz,talk and publicity around it, is.

Why? Because it can make others do the same and a trend could emerge. And this trend can become so big that the crooks at the NFA or CFTC will have to deal with it.

It is ok to come to forums and talk about brokers tricks but you have to understand that in doing this you are just tickling them. A whole bunch of psots here will not do as much damage but a simple small claims or call to BBB will work wonders on the long run,...
Not if FXCM refuses to settle and proves their innocence in a court. From the legal point of view, it would, thanks to our wonderful precedence law, stop any attempts of future class action lawsuits. From a publicity point of view, it would stop once and for all any speculations/rumors/innundos/suspicions of supposedly "tricks" played by FX brokers to rob customers of their profit. At the same time, it can also send a loud and clear message to those irresponsible and incompetent traders that if you can't make money in FX trading, don't blame the broker and don't ever think you can recoup your losses through suing; you should've quit long time ago when your losses was way smaller than $150,000!

All rests on FXCM now! FXCM, if you have nothing to hide, fight off those vulture lawyers and those noob traders! Come on, you can do it!!
Make your losses in demo. Earn your profits live.
  • #219
  • Feb 16, 2011 10:12pm Feb 16, 2011 10:12pm
Quoting PipStar
Those who are bashing him are most likely not real traders. Keep in mind everyone posts here anonymously including brokers, their reps, affiliates and anybody else who have a vested interest with brokers. I think that this class action could change the forex industry forever and as traders we should support any push for fairness and transparency. Brokers have been doing whatever they want for too long, it's time to level the field.
Well actions speak for themselves. If FXCM is really found guilty, they should get punished so should all other brokers like FXCM. But FXCM really didn't do anything wrong, then it's those traders who need to realize that it's their responsibility and not of their brokers to make money and they are supposed to exercise all their dilligence, intelligence, prudency and vigilence possible to make sure they succeed or at least minimize their losses. Waiting for years until the loss accumulates to a six-figure number is NOT what I would categorize as dilligent, intelligent, prudent or vigilent behaviour. And allowing themselves to be pursuaded by some greedy lawyers that suing the brokers would get their money back is even worse.
Make your losses in demo. Earn your profits live.
  • #220
  • Feb 17, 2011 5:47am Feb 17, 2011 5:47am
Quoting Platypus
a simple small claims or call to BBB will work wonders on the long run, especially if you come back here and tell everybody.
Inserted Video




Afraid not, The BBB is a rigged scam. Buyer beware.
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