I just heard that AleccohFX just declared bankruptcy. Many people (including me) had high hopes for this broker. For a while it looked like it was the only non ECN broker that genuinely cares about traders and wasn’t looking to screw them over. Well, the story of its demise is a long one so I won’t go into details over here. Click the link below for the official declaration of bankruptcy:
Declaration of bankruptcy of AllecohFx
Another useful source can be found here..
I wish those of you who are affected by this even the best of luck, and hopefully you will be able to recover some or all of your funds.
7 thoughts on “AleccohFX Declares Bankruptcy”
AleccohFX Declares Bankruptcy is very bad news.Many banks and brokers are vanished in this situation.Very bad!!People should be careful while investing.
Hmm yes, exactly. The retail forex world is fraught with dangers such as fraudulent brokers, brokers with a poor business plan, and brokers with insufficient capital. Any of the above means that you’ll most likely end up losing your account – this is worst than losing to the market. I recommend people do extensive research before entrusting their hard-earned money to any broker.
Anybody who was client to this broker please contact at below email:
afxclients (at) gmail.com
We are getting group together to get the people involved behind bars and recover our funds.
I hope they are brought to justice. Might be a bit hard since – if I remember correctly – the people behind it (or was it just one guy) is located in Lebanon.
Also I’d recommend opening a thread on my forum here:
There is a forex brokers section. I’ll also make a blog posting about this if you’d like. Just give me some details or any info that you feel is useful for former clients of theirs – ie steps they need to take to become part of this action.
Yes please do – direct them to email afxclients(at)gmail.com. Currently there is nothing that they can do alone. That is why we are gathering whoever we can from former clients. There is a plan in place.
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