Saturday, August 25, 2007

Forex Broker Warning

I just received this from a forex trader and thought you would like this important information.
The last few weeks has seen the NFA foreclosing on a lot of forexdealers who are undercapitalized. The following firms have beenshut down as a result:

1) United Global Markets, LLC Today the CEO just sent an email out to clients saying they were going out of business because they could not meet their capital requirements.
2) Trend Commodities LimitedOn June 19 the NFA shuttered Trend Commodities due to fraud and forfailing to meet their capital requirements.
3) Spot FX Clearing CorpOn June 14 the NFA shuttered SpotFX due to fraud and for failing tomeet their capital requirements.
4) FX Option1 Inc.On June 7 the NFA shuttered FX Option1 due to fraud and for failingto have adequate security deposits for customers.
5) Spencer Financial LLCOn May 17 the NFA shuttered Spencer Financial due to fraud and forfailing to meet their capital requirements.
6) Alpha ForexOn May 14 the NFA shuttered Alpha due to fraud and for failing tomeet their capital requirements.
Do you have money with the following? their current capital - IF SO GET OUT NOW
One World Capital $1,105,000
Open E Cry LLC $1,062,810Velocity4X $1,587,000
Direct Forex LLC $1,523,000
Easy Forex US Ltd $5,011,644 - they are above the 5 mio threshold but only just and with a name like that - get out.
3D Forx LLC $ 2,525,372E FX Optioons LLC $1,709,752
FiniFX $1,464,000
Forex Club $3,304,000Forex International Investments Inc $1,464,620
Forward Forex $1,793,767FXCM LLC $759,689GFS Futures & Forex $3,074,000
Nations Investments $1,699,000
Royal Forex Trading $1,102,000SNC Investments $1,565,000
Tradition Securities $781,869I
Trade FX -$3,039,000 Note these guys are alreadybankrupt — negative capital.!!!!!
Money Garden Corp $3,399,844
To get on the NFA new info list go to: www.nfa.futures.org/news/subscribe.asp.
You can find out which broker I recommend at
http://www.forexmoneyonline.com/e-books

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