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Author Topic: [ANN] Btc4x.com - First Forex to accept Bitcoin!  (Read 5485 times)
Goomboo
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November 02, 2012, 05:36:33 PM
 #21

This is the clearest scam I have seen in a long time.  Why has a moderator not deleted this thread and banned the associated individuals?

- We comply to all local regulations. Clients should be compliant with their local regulations.

- Your firm is NOT regulated by the FSA and you are lying when you claim to be.  Everyone follow these steps:
1.  Go to http://www.fsa.gov.uk/register/firmSearchForm.do
2.  Type 217689 (This is FXCM - a regulated, respected, and legal broker)
3.  Click regulators
4.  Notice how it says, "Financial Services Authority" - FXCM is legally regulated
5.  Follow step 1-2 with 194835 (The number for VenetFX)
6.  Click regulators
7.  Notice the void?  VenetFX is NOT regulated by the FSA and they claim to be
8.  Now click the permissions link for each of the above firms.  VenetFX is NOT authorized to transact in foreign exchange, contracts for difference, or spot forex

- All you have done is create a company and register it with the FSA - I have personally done the same and have my trading firm listed with the NFA.  If I were to turn around and offer a brokerage service and claim that I am regulated by the NFA, I would go to jail - which is what may happen to you in the near future.

- It is illegal to solicit foreign exchange business in the United States without being registered with the CFTC and NFA as a RFED
http://www.cftc.gov/PressRoom/PressReleases/pr5883-10

- The maximum legal leverage in the U.S. is 50:1 - by offering your service to Americans, you are violating our laws
http://www.ecfr.gov/cgi-bin/retrieveECFR?gp=1&SID=bb4e8713bff1ff87626ea3fb658a963d&ty=HTML&h=L&n=12y1.0.1.1.42&r=PART#12:1.0.1.1.42.0.9.9

- The logic and claims of the website are entirely flawed
-- "Yes, your Bitcoin deposits are never converted into fiat or any other form"
-- When you "buy" EUR/USD, you are selling dollars to buy euros.  To say that you can trade currencies without converting your BTC is a straight-up lie.  This claim blatantly tells you that they are trading against customers or just stealing money.

- I have reported this firm and its "subsidiary" to the FSA
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Goomboo
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November 02, 2012, 05:59:24 PM
 #22

Copied from the other thread where I'm calling these guys out:

LOL and I totally missed this:

Absolute lie!  Alpari won the best Forex broker in UK and Europe in 2011 from the IBTimes...the website totally falsified its awards.

http://www.alpari.co.uk/en/cnews/show/id/1899/




BlackHeartFund
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November 04, 2012, 05:53:04 PM
 #23

Wow, someone ruined their reputation fast. Thanks for the detective work guys.
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November 05, 2012, 02:20:41 PM
 #24

Very good job.

https://bitcointalk.org/index.php?topic=114821.msg1317736#msg1317736

Goomboo
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November 05, 2012, 03:25:29 PM
 #25


Time for you to end it.   It would be best if you: stop stealing, return all clients funds, and close your business.
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