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2012 Non-Broker Forex Scams of the Year Nominees
(in chronological order)
(in chronological order)
MetaiForexRobot.com and MtFxRobot.com
This one stole the code from Million Dollar Pips. Even more boldly, it also used MDP's activation server to verify copies of the pirated bot.
Discussion Thread for the Scam Finding against Metai Forex Robot and Mt Fx Robot
FPA Review Page for MetaiForexRobot.com
FPA Review Page for MTFxRobot.com
FPA Scam Finding against MetaiForexRobot.com and MtFxRobot.com
IFTI-Service.com
This service blew out a trader's managed account. That's not enough for a Scam Finding by itself. IFTI had some repayments promised in the contract and came back promising to make them. The payments were never made and IFTI stopped responding.
Discussion Thread for the Scam Finding against IFTI-Service
Amag80's initial complaint against IFTI
FPA Traders Court Verdict against I.F.T.I.
FPA Review Page for IFTI-Service.com
FPA Performance Test Page for IFTI Service
FPA Scam Finding against IFTI Service
Rizwan Awan and TrendsFX.com
Rizwan Awan is a serial scammer. in 2009, he got a scam finding. In 2010, he used a new website and a fake name to join the FPA's Performance Testing program, finally revealed himself, and ruined a bunch more trading accounts. This time he tried the new name stunt again, but something was suspicious about the Performance Test submission, so I asked that it be held back. That's when Rizwan popped up again, claiming he'd changed his ways and said he wouldn't be doing any trading.
He lied again. Just to remove any future argument, the scam finding isn't just about his 3rd company. Rizwan Awan himself shares the scam finding.
Discussion Thread for Scam Finding against Rizwan Awan and TrendsFx
TrendsFx.com Review Page
Next-Consultancy.com Review Page
Article about Next-Consultancy scam
FPA Scam Finding against Rizwan Awan and TrendsFX.com
Safensteadyfunds.com
The trade comments in the Performance Test submission made it plain that this was four different commercial EAs running on one master account. I emailed all of them. Two replied. Both confirmed that there was no licensing agreement. That makes this a simple case of piracy.
Discussion thread for the Scam Finding against Safe n steady funds
FPA Review Page for Safensteadyfunds
FPA Scam Finding against Safensteadyfunds.com
Voting will remain open for about 45 days.
Please keep this thread on-topic for the candidates for the 2012 award. If you have an issue with any other company, please put it in the Scam Alerts folder.
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https://www.forexpeacearmy.com/fore...tting-scammed-when-buying-forex-products.html
https://www.forexpeacearmy.com/fore...ose-all-your-money-managed-forex-account.html