It is our opinion that She had been a customer and IB there for about 5 years. When Capital Trader pointed out that it was GCI who requested that she become an IB and that her trading style had not changed in 5 years, there was no response. Then Gerard asked about why a customer of 5 years standing couldn't get an answer to these questions.
Capital trade continued to try to get answers but received none. We consider breaking such a long-standing business relationship to be highly suspect. Combining this with a refusal to provide any real answers to a customer is at minimum unethical. Since GCI would not provide any more information either to the FPA or to Capital Trader, we have no choice but to take her version of events as the complete truth.
Failure to pay money owed to a trader is the FPA's first definition of scam. Under these circumstances, GCI Trading has forced us to declare it to be a scam. We offer GCI the opportunity to have this scam finding lifted by meeting 2 requirements. First GCI must publicly apologize to Capital Trader for failing to talk openly and honestly about this issue. Second, GCI must conduct proper negotiations to determine how much money she may or may not be owed.
We urge traders not to do business with this company. For those who already have accounts there, we recommend that you close them. We are pleased to hear that she has contacted the regulators in Belize. We look forward to finding out just how much regulatory power they really have.
The case was later withdrawn. The claimant says that this was for financial reasons. You must log in or sign up to post here. Share This Page Tweet. Scam Investigations Committee Sep 17, Scam Investigations Committee Jun 28, Scam Investigations Committee Mar 22, Scam Investigations Committee Jul 13, Scam Investigations Committee Jun 4, Sive Morten Dec 1, at 5: Sive Morten Nov 24, Sive Morten Nov 17, Peter O Nov 11, Andrew Mitchem Nov 23, Andrew Mitchem Nov 7, Andrew Mitchem Nov 14, FxMaster Dec 5, at 9: Avatrade not processing my withdrawal Hello AvaTrade?
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Jarovna Dec 5, at 7: Which resources do you use to better your trading? Rambo35 , May 22, Makenzie Malachi Dec 5, at 7: Your name or email address: Do you already have an account? No, create an account now. Yes, my password is:More...