http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=1170 Highlights include: * Non registered salespeople soliciting accounts * Boasting safety of funds when it was not true * Moving prices on clients once they entered a trade
wow ... forex.com is part of the gain capital group which in my mind was one of the most reputable forex brokerage firms out there hopefully they have made the proper changes on their end to avoid this kind of thing in the future
I accidentally put in the wrong link, which was to the final decision and doesn't outline the complaint. That link, with the items I mentioned above can be found here: http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=970 Here is the main link to the case: http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0339826&case=06BCC00037&contrib=NFA Sorry for the confusion.
Im glad to see the NFA has started to enforce rules on forex dealers. Gain is a marketing machine and an obvious first recognizable target. That said, Im sure everyone reading this post has read the complaint. Has anybody bothered to read the answer? GAIN is not doing anything different than other forex dealers, foreign and domestic. So, when will BigDoughFX open a US-based operation? Answer: they won't. BigDoughFX is legally allowed to create a false sense of security with clients. BigDoughFX is significantly more covert than GAIN.
^+1. It seems like in 2007 the NFA is devoting more time and resources to tightening up and provide investor education in Forex.
What kind of unprofessional brokerage name is that, do yourself a favor and get a real brokerage. Like, CaChingFX or LeeHarveyOswaldFX.