Protect Forex Market against Mafia

Protect Forex Market against Mafia

It is a ridiculous fact that wherever there is success there is enemies fighting it. And here comes the role of the allies of success to protect it against those enemies, and keep it alive.

Forex Market is the representative of the economic world, which is characterized by occasionally changes. In such a world, there are traders, banks, brokers, investors, economists. And also there are those bustards, who are actually a group of people forming a Mafia, whose sole aim is to destroy this great Market.

Their strategy is built on attracting traders; they play their tricks on traders for they are the majority. First of all, I'd like to specify my speech by prevailing those bustards. The websites we know about till now are Forex Peace Army (known as Forex Bustards before), King Forex Signals, Forex Diamonds, Forex Realm, Secret news weapon, alansmoneyblog.com/forum, and finally MB Trading. The well known bustard of them is known as Felix, or Dimitry, or Alan, or Adam, or Pharaoh, or Unknown.

Those bustards are trying to play with traders' mind; they make allegations in their forums about patent brokers that they are swindlers, and they cheat traders by taking their money without returning it to them. Then, they nominate some brokers to deal with, and actually these brokers are belonging to them. And here comes the catastrophe, for traders go trading with them as cases of secure, then they find themselves trapped there!!!

Thus, this Mafia ought to be fought to save Forex Market from falling to the ground. We traders, brokers, banks, economists, or whatever we are must stop them and bring this chaos to an end.

Currency scam: FBI arrests 48 Forex brokers & ForexPeaceArmy

Currency scam: FBI arrests 48 Forex brokers & ForexPeaceArmy

January 19, 2008 18:47 IST
Federal Bureau of Investigation agents on Tuesday arrested 48 foreign exchange brokers & Felix Homogratus the owner of forexpeacearmy in connection with a probe into securities and currency fraud, according to a CNN/Money report.
The FBI swarmed on New York City's Two World Financial Center shortly after 3 p.m. ET and took away the traders in handcuffs, people on the scene told CNNfn.

The building is mainly occupied by Wall Street brokerage Merrill Lynch, but Merrill Lynch was not home to the arrested brokers, CNN/Money said. "It's currency fraud, securities fraud," an agent at the scene of the arrests said.

FBI sources told CNN/Money that the Wall Street traders will be charged with swindling retail investors of an undisclosed amount of cash over the past year.
NBC reported the defendants scammed retail investors into thinking they were buying multimillion-dollar foreign exchange trades when it is not possible for those types of investors to participate in such deals. Among those arrested were three brokers at the inter-dealer brokerage ICAP. Seven employees of Madison Deane and Associates Inc were also arrested, CNN/Money added. At least two other firms were involved, sources said, adding none of the companies targeted were household names outside of the securities industry but are well known and regarded in the Wall Street community.