Is FXTrader.com legit??
- Thread starter learningFX
- Start date
My name is Sean Rice. I do the design and programming for fxtrading.com and related niche sites for the same company. I came across this post while doing keyword marketing research and, reading through, I was rather appalled at how easily some posters can slander good companies without any thought.
I've worked for fxtrading.com for over a year on various projects and have an intimate knowledge of almost every inch of their on-line presence. One thing that I was always struck by was the care they took in explaining things to their clients and the pride they had in being able to offer what they offer when other, competing companies, could not.
On this forum, I'm reading casual comments about Russian Mafia and scamming as if the people here have any idea what they are talking about. The company is so 'apple pie' that I doubt anybody in the office would even recognize a Russian if Putin himself shook their hands. As for scams, this group works very hard to develop good relationships with their clients.
I know this for a fact because I'm the one having to program the back-end that allows them closer and closer interactions on a day-to-day level with you traders.
They have a good trading application. They allow you to download a free demo to try it out for yourself and they allow you to begin trading with exactly the terms they advertise. If anybody has information to the contrary, I'd be interested to hear it right here. Claims that fxtrading.com is in any way not completely honest, though, I see as pure and malicious slander.
Further, I'm not afraid to hide my name and e-mail: Sean Rice at seanrice@rasadesign.com. I'll put my name on any statement made, here.
I've worked for fxtrading.com for over a year on various projects and have an intimate knowledge of almost every inch of their on-line presence. One thing that I was always struck by was the care they took in explaining things to their clients and the pride they had in being able to offer what they offer when other, competing companies, could not.
On this forum, I'm reading casual comments about Russian Mafia and scamming as if the people here have any idea what they are talking about. The company is so 'apple pie' that I doubt anybody in the office would even recognize a Russian if Putin himself shook their hands. As for scams, this group works very hard to develop good relationships with their clients.
I know this for a fact because I'm the one having to program the back-end that allows them closer and closer interactions on a day-to-day level with you traders.
They have a good trading application. They allow you to download a free demo to try it out for yourself and they allow you to begin trading with exactly the terms they advertise. If anybody has information to the contrary, I'd be interested to hear it right here. Claims that fxtrading.com is in any way not completely honest, though, I see as pure and malicious slander.
Further, I'm not afraid to hide my name and e-mail: Sean Rice at seanrice@rasadesign.com. I'll put my name on any statement made, here.
They have a fund developed around trading against the client. The founder was a well known quant who fell out of the public eye shortly after the firm broke ground. The fund is disclosed on their site, this is not a secret.
(sorry, off subject, but that statement was blatantly ignorant)
I will be honest i'm confused!
We have managed to mix up FXtrader.net, FXtrader.com, and FXtrading.net
Which one is the mafia one? If there is one at all!
We have managed to mix up FXtrader.net, FXtrader.com, and FXtrading.net
Which one is the mafia one? If there is one at all!
fxtrading.com is the really good one. FxTrader.net is supposedly owned by IDG according to another post and, for some reason, that makes it mafia.. (?) O,o
fxtrader is SCAM(they deleted my account ballance) and now under new name http://www.itgforex.com/
I used to work there. These guys redefine the term "bucket shop" and "scam."
FXtrading.com is affiliated with a NJ outfit, they were banned by the NFA and CFTC for life. No one there is NFA registered. After the NFA action, Brian Johnson changed his website and moved a few blocks away. His cokehead partner (a paranoid guy always dressed in black, who was rarely seen and watched everyone via multiple internet cameras from behind an always locked office door) previously operated in California and Florida before the authorities got close and had to pack up and move.
They're still taking people's money with their "managed accounts." This is what they do. Advertise constantly (lots of turnover!) on craigslist for people "unafraid of the phone" to dial leads - "no experience necessary, we will train". If you check out Boston Craigslist you will probably find them advertising right now.
This dialer (usually an unpaid intern from a local college) goes through 300 cold leads per day trying to get one warm mark. At that point, one of the three "traders" jumps on the phone to take over. With a combination of yelling, insults, and lies ("Don't You Want To Make Lots of Money!! You can Double your Money in Week!!!") they somehow get marks to send them $5K or more.
I was surprised to learn that people (marks) can actually be browbeaten into sending thousands of dollars to a stranger who insults them and calls their manhood into question. Many people are gullible and weak-minded and afraid to say NO and want to
be told what to do by someone yelling into their ear. These
"believers" are just are too polite to even hang up!
The "trader" then throws the money on a trade and they all (not the dialers) go over to The Office (a bar) to get wasted, which happens just about every day. After drinking for four hours, they return to check on the trade.
Usually it takes less than a week to blow up the account and they keep 25% of the principal. I've heard one "trader" call a mark that one of the other "traders" took for $15K to get him to send in more money. ("I'm the Senior Trader here and I feel bad about your loss and I'd like to do what I can to get your money back for you. If you send in another $10K I will trade it personally and make sure that you get priority on every trade we do. Does that sound fair to you?")
And so it goes.
FXtrading.com is affiliated with a NJ outfit, they were banned by the NFA and CFTC for life. No one there is NFA registered. After the NFA action, Brian Johnson changed his website and moved a few blocks away. His cokehead partner (a paranoid guy always dressed in black, who was rarely seen and watched everyone via multiple internet cameras from behind an always locked office door) previously operated in California and Florida before the authorities got close and had to pack up and move.
They're still taking people's money with their "managed accounts." This is what they do. Advertise constantly (lots of turnover!) on craigslist for people "unafraid of the phone" to dial leads - "no experience necessary, we will train". If you check out Boston Craigslist you will probably find them advertising right now.
This dialer (usually an unpaid intern from a local college) goes through 300 cold leads per day trying to get one warm mark. At that point, one of the three "traders" jumps on the phone to take over. With a combination of yelling, insults, and lies ("Don't You Want To Make Lots of Money!! You can Double your Money in Week!!!") they somehow get marks to send them $5K or more.
I was surprised to learn that people (marks) can actually be browbeaten into sending thousands of dollars to a stranger who insults them and calls their manhood into question. Many people are gullible and weak-minded and afraid to say NO and want to
be told what to do by someone yelling into their ear. These
"believers" are just are too polite to even hang up!
The "trader" then throws the money on a trade and they all (not the dialers) go over to The Office (a bar) to get wasted, which happens just about every day. After drinking for four hours, they return to check on the trade.
Usually it takes less than a week to blow up the account and they keep 25% of the principal. I've heard one "trader" call a mark that one of the other "traders" took for $15K to get him to send in more money. ("I'm the Senior Trader here and I feel bad about your loss and I'd like to do what I can to get your money back for you. If you send in another $10K I will trade it personally and make sure that you get priority on every trade we do. Does that sound fair to you?")
And so it goes.