Cftc Sues 14 Unlicensed Foreign Currency Firms In Nationwide Sweep

Discussion in 'Forex Brokers' started by cstfx, Jan 27, 2011.

  1. cstfx


    Some familiar names:

    The following companies were sued by the CFTC as part of this sweep:

    EuroForex Development LLC, a Delaware LLC;

    FIG Solutions Limited, Inc., a Delaware corporation;

    ForInvest, a Delaware corporation;

    FXOpen Investments Inc., a Delaware LLC;

    FXPRICE, a Delaware LLC;

    GIGFX, L.L.C., a Delaware company;

    InovaTrade, Inc., a company with purported offices in Florida;

    InstaTrade Corporation d/b/a InstaForex, a British Virgin Islands company;

    InvesttechFX Technologies, Inc., a Canadian corporation located in Toronto;

    J&K Futures, Inc., a company with purported offices in California and New York;

    Kingdom Forex Trading and Futures, Ltd., a Nevada company;

    Prime Forex, LLC, a Delaware LLC;

    Wall Street Brokers, LLC, a Delaware LLC; and

    ZtradeFX LLC, a Connecticut LLC.

    On the FXOpen website under the "About Us" tab, there's a welcoming message from the CEO, Dr Alex K. That's it. The shady firm does not even identify who the owner/CEO of the firm is, as would a reputable firm would, just an ambiguous "Dr K."

    Needless to say, choose your broker carefully.
  2. zdreg


    FXOpen Investments Inc., a Delaware LLC website is now down after being up this morning.

    it is actually a well done website. who is the mysterious alex k.
  3. cstfx


    You mean fxopen is....closed?
  4. zdreg


    website is down. maybe it is overloaded with inquiries.
  5. olias


  6. cstfx


  7. zdreg


    home page is still down. looked it this morning. it was extremely professional. the english was near perfect. obviously this does not speak to the integrity of the firm.
  8. cstfx


    They were/are a Cypress firm soliciting business in the US, which according to the newly enacted Dodd-Frank bill, is now a no-no unless you get registered with CFTC. Kinda like the Russian firm that's a sponsor at the bottom of this page.

    You can glance their site using Google cache, but all the links are dead save for the forum. Their whole site is down, even those in another language.

    edit: scratch that - that Russian firm is no longer a sponsor as of this afternoon.
  9. zdreg


    what was the name of the sponsor?
  10. cstfx


    #10     Jan 27, 2011