Alan’s Forex Blog

I just came across this FPA post today. Apparently the managed accounts provider LegendTrader.com was and probably still is doing something fishy.
Btw, you can discuss this issue on my forum in this thread.  Or on the FPA forum over here.
The Forex Peace Army investigators investigated their foul doings and reported as follows:
–begin quote–
We the members […]

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 […]

You’ve probably heard of Forex brokers ripping off their clients by using various dirty tricks. Some of the most common ones are: stop hunting, requoting, widening the spread to some ridiculous number, software disconnects, lagging/fraudulent price quotes, unfilled orders, and account banning. Yes, they will politely (sometimes not so politely) tell you to bugger off […]

I’m sure you guys know this already but there are so many brokers who engage in stop hunting. It appears Crown Forex has been caught “red handed” doing this very thing. This is a sign that you want to avoid this broker at all costs as you will get ripped-off.
Check out these pictures. As they […]

A while back I made the following post:
http://alansforexblog.com/2007/10/23/scam-warning-forexgencom-stay-away-from-this-forex-broker/
In it I brought to you a general warning issued by a fairly reputable member of the forex trading community - Rob Grespi - urging you to stay away from a forex brokerage firm that goes by the name of ForexGen. I also started a thread on my […]

Start researching Forex and you’re likely to see several ads proclaiming ridiculous guarantees such as “2,000 pips a Day!” or “400% Profits in 3 Days!!” Before you quit your day job and start trading Forex fulltime because of these outlandish claims, let’s evaluate how to spot a Forex scam.
Unfortunately, many people associate Forex trading with […]

Here is an email received from Rob Grespi who runs a popular forex signal provider called “Kingforex” (friend with Felix from forexbastards.com). Here is another solid proof of why the forex broker industry is filled with scammers and con artists. Always, and I do mean ALWAYS do your due diligence before you fall for […]

The Republic of Phillipines SEC has issued the following warning:
SEC WARNING
BEWARE OF INTERNET-BASED PONZI INVESTMENT SCHEMES
The Securities and Exchange Commission (SEC) has received reports that the following entities are allegedly engaged in internet-based ponzi investment schemes: FRANCSWISS. SWISS CASH, UNIVERSAL FOREX SYSTEM, GLOBAL AMERICA, and PRIVATE FOREX TRADE, INC. These entities are NOT REGISTERED with […]