Motivating EliteTrader(Baron) to boot fraudulent advertisers

[volpunter]

I am motivated to put up a list of companies that Baron is collecting money from in exchange for advertisement that are obvious frauds. I will provide evidence through documents that detail guilty pleas, law suits, convictions, reprisals, warnings or sanctions by regulators. I do not find it acceptable that EliteTrader on one hand prides itself with welcoming newbies but at the same time collectes cold cash from companies/brokers that obviously rip off and pray on beginners.

One obvious example is Orbex Forex, a company that has previously been sued and found guilty of various violations, they changed their name and now operate the same fraudulent schemes. I just came across their ads on this site and find it unacceptable. I am more than happy to provide proof and a longer list of ACTIVE advertisers that this website is materially profiting from despite solid convictions and guilty pleas in American and European courts of law. If there is any interest in this then please let me know here or through PM and I can post a list of documents, most in public domain but even an interesting list of private documents that law courts did not provide for public viewing....

Why I do this? Because I see myself as sort of vigilante (as can be seen in numerous posts) to assist beginners and warn them of obvious frauds, whether such be brokers, data providers, individual cheats or those with opaque and questionable motivations. I just cannot stand bullshit and generally I skip it but when a website like this who touts itself as being a retail trader's hub collection cash from the same firms that rip off retail clients then I feel the line is crossed!!!

 

[Baron]

I am motivated to put up a list of companies that Baron is collecting money from in exchange for advertisement that are obvious frauds. I will provide evidence through documents that detail guilty pleas, law suits, convictions, reprisals, warnings or sanctions by regulators. I do not find it acceptable that EliteTrader on one hand prides itself with welcoming newbies but at the same time collectes cold cash from companies/brokers that obviously rip off and pray on beginners.

One obvious example is Orbex Forex, a company that has previously been sued and found guilty of various violations, they changed their name and now operate the same fraudulent schemes. I just came across their ads on this site and find it unacceptable. I am more than happy to provide proof and a longer list of ACTIVE advertisers that this website is materially profiting from despite solid convictions and guilty pleas in American and European courts of law. If there is any interest in this then please let me know here or through PM and I can post a list of documents, most in public domain but even an interesting list of private documents that law courts did not provide for public viewing....

Why I do this? Because I see myself as sort of vigilante (as can be seen in numerous posts) to assist beginners and warn them of obvious frauds, whether such be brokers, data providers, individual cheats or those with opaque and questionable motivations. I just cannot stand bullshit and generally I skip it but when a website like this who touts itself as being a retail trader's hub collection cash from the same firms that rip off retail clients then I feel the line is crossed!!!

Orbex Forex is not an advertiser here. Our list of sponsors is at the bottom of every page on this site, and as you can see, that company is not in the list.

 

[volpunter]

Then how come banners were shown on one of the ET pages I came across? (or are you suggesting that you have no control over ads shown on your page and even AlQaeda can post ads here?) I am happy to take a screenshot I see it next time...by the way...I did not say sponsors. I said you let firms advertise here that purposely incorporate in Cyprus, purposely ripped off customers, purposely got convicted and banned from engaging with European and US customers (which unfortunately does not mean much to someone with bad intent and headquartered in Cyprus), and who purposely changed their name hoping they can wash the past clean and now play their same old game under a new name. Isn't there enough reputable business out there that are willing to fill your coffers?

Orbex Forex is not an advertiser here. Our list of sponsors is at the bottom of every page on this site, and as you can see, that company is not in the list.

 

[Baron]

Then how come banners were shown on one of the ET pages I came across?

Probably because your computer has some malware on it that is overwriting our ads with other 3rd party ads.

 

[Baron]

I said you let firms advertise here that purposely incorporate in Cyprus, purposely ripped off customers, ....

Well, you're wrong. We don't have any such firms on this site. So you can apologize any time now.

 

[volpunter]

that makes a lot of sense from an IT standpoint...

Probably because your computer has some malware on it that is overwriting our ads with other 3rd party ads.

 

[JamesL]

IT IS malware. Same thing happened to me in the past year.

 

[volpunter]

I do not have malware on my machine, not in the past and not now (after scanning and after stating what I saw). I know what I saw, but this particular broker is not even my point. I hope we can all agree that offerings like this one (http://www.thenut-trader.com/index-1.html) are not any more ethical nor beneficial to uninformed retail clients. I just wonder whether the owner of this website really is this desperate or whether the market is in such dire condition for those retail oriented brokers/data vendors/"value-not-added"firms that only a few, and among them shady ones, are left....

P.S. And yes, I tried to locate another banner of this initially mentioned brokerage firm but admittedly could not find it anymore, which again, was never the core point of my post.

IT IS malware. Same thing happened to me in the past year.

 

[wrbtrader]

You said the following in your opening statement...

...I will provide evidence through documents that detail guilty pleas, law suits, convictions, reprisals, warnings or sanctions by regulators...

Now you're highlighting Thenut-trader.com in this same thread. Therefore, where's the evidence, guilty pleas, law suits, convictions, reprisals, warnings or sanctions by regulators about Thenut-trader.com considering this seems to be the core issue of this thread considering the above quote is from your opening statement to Baron

Thus, do you have any links to any of the above information you said you will reveal ?

I'm now curious who is your data vendor, broker and what have you discovered about them...do you currently still use them ?

P.S. Do you plan on revealing information about ThinkorSwim, eSignal, Ninjatrader or Interactive Brokers considering there's always a thread or two every year by someone blaming something on them, law suite and such that has not already been shared here at Elitetrader.com ?

 

[volpunter]

I think you are drawing a couple wrong conclusions from my posts.

*I did not put "Thenut-trader bla bla" into the same bucket as mentioned broker, nothing I said even hints at that. I used that service as example where newbies are scammed with an advisory service that apparently links up buy and sell signals to poker cards (not sure which is worse, this or observing moon phases). I think most can appreciate that I obviously did not put both vendors into the same category given that a vendor that provides software that generates trading signals can hardly be sued ever given they provide the simple statement that theirs is not to be taken as advice but just another piece of information (aka as garbage of zero value).

* And to be straight with you about my brokers, no, I would not use any brokers if I found they cheated me in the ever so slightest way. They would be immediately disconnected, and I would never talk to any of them ever again if that was the case. Even a suspicion of cheating would probably prompt me to take a break or reduce size with such broker. But then I execute most of my orders algorithmically with zero manual intervention neither on my nor the broker's end.

* I leave it up to you to google general customer complaints about the data vendors or brokers you specifically mentioned. I mented one broker who has an incredibly bad reputation (reads, bucket of bucket shops) and I am not fantasizing when I said I saw a banner on this website by this broker (and no I do not have malware on my computer, unless Norton 365, Malewarebytes, and 2 other scanners fail to work). I think there a clear different between this broker and the list you mentioned.

You said the following in your opening statement...



Now you're highlighting Thenut-trader.com in this same thread. Therefore, where's the evidence, guilty pleas, law suits, convictions, reprisals, warnings or sanctions by regulators about Thenut-trader.com considering this seems to be the core issue of this thread considering the above quote is from your opening statement to Baron

Thus, do you have any links to any of the above information you said you will reveal ?

I'm now curious who is your data vendor, broker and what have you discovered about them...do you currently still use them ?

P.S. Do you plan on revealing information about ThinkorSwim, eSignal, Ninjatrader or Interactive Brokers considering there's always a thread or two every year by someone blaming something on them, law suite and such that has not already been shared here at Elitetrader.com ?