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Three Scam Brokerages Gone
(Hopefully For Good)
by Pharaoh
Suffering from an untreatable case of writing addiction.

I'd like to thank the FPA's Scam Investigations Committee for letting me write this article. I've been waiting for this day to come for a long time now.

Back in the ancient days, when the Earth was still cooling and the FPA was still called Forex*******s, a very bad brokerage ripped off a trader. Felix posted what Rob wrote about this company in the forums. Suddenly, a bizarre fellow showed up in the forums here promoting these scammers. I then caught this guy spamming many dozens of web forums with fake advertisements pretending to be conversations between potential clients and happy customers. Once Forex*******s became the FPA and Scam Investigations were formalized, they scammed another trader, refused to even reply to messages from the trader or the FPA, and then attacked the FPA with hundreds of blogs filled with half-truths and lies. Throughout all this time, the number of complaints against this broker was amazing. Last year, they tried to negotiate with the FPA to get the scam findings lifted, but broke off all contact when the FPA asked them to remove 25 of the hundreds of remaining hate blogs.

A few weeks ago, I noticed that their website was down. I didn't say anything publicly. Announcing that a scam broker had gone out of business only to have them pop up the following week with a BS story about how the FPA orchestrated the whole thing would be a bit embarrassing.

I dug deeper. Emails send to the broker didn't bounce, but went unanswered. I found a small part of the website still functional and tried the live chat. Clicking on it gave me an “Your request could not be completed because the account you are trying to reach is disabled. ” error. I got word from a friend that their MT4 demo server seems to be offline.

I wish the scam cases could have been resolved, but this brokerage's scam rotted it to the core. Sometimes, a company is so bad that there isn't really any hope of reform. I am proud to say that the warnings issued by the FPA helped put an end to this broker's reign of forex account destruction.

I now feel sufficiently confident that they are really gone that I'm willing to announce the death of the worst scam brokerage the FPA has ever dealt with. I can't even begin to express my happiness in announcing that ForexGen, SigmaForex, VelocityForex are dead.

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Three Scam Brokerages Gone - ForexGen, SigmaForex, VelocityForex - Forex Peace Army Forum