Proposed NFA Capital Requirement - page 51

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Crown Forex Update

Just received this update from someone who has been involved in the controversy at Crown Forex. This would explain the withdrawal difficulties customers have been experiencing.

The skinny at Crown. Wanted to let everyone know what's really going on with Crown. First of all the people who were having problems withdrawing were carry traders who were not paying any interest with Crown. Crown realized some of these guys were holding GBP/JPY long term and not paying the normal fee for doing so. As a result they froze the accounts and tried to retroactively charge the clients a fee. The clients were not willing to pay it and complained to the Swiss authorites. I was able to negotitate the return of all my client's money so that he would not pay any fees. He was the biggest carry trader over there and one of the guys on FPA. Well they started to pay him but the investigation he helped get launched now will prevent him or anyone else from getting any money out of Crown at all intll the investigation finishes. So it's a lose lose for everyone involved.

Scott Kuehne

FX Traders Inc.

Developing...

 
 

I just realized the the only two dealers w/MT4 in the USA on the approved saviors list is FXCM and IBFX...by the way FXCM does not offer Demo's with MT4.

ES

 
ElectricSavant:
I just realized the the only two dealers w/MT4 in the USA on the approved saviors list is FXCM and IBFX...by the way FXCM does not offer Demo's with MT4. ES

MT4 is a great platform unfortunately it is hard to find a well regulated and well capitalized firm that offers it.

 
 

And how about FXDD? Some time ago they had announced that would become a NFA member, but so far nothing. Excuse my ignorance but they may continue if unregulated?

 

Where does MBT figure into this?

 

I believe their parent company, the company in which the company is held under is NFA regulated, I remember reading this somewhere. But they are not directly NFA regulated, and are pending.

odirlei:
And how about FXDD? Some time ago they had announced that would become a NFA member, but so far nothing. Excuse my ignorance but they may continue if unregulated?
 
 
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