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the largest concentration of bucket shops is
you guessed it...
forex, spot and options.
virtually 99% of forex retail trading are bucket
shops...
industry is unregulated and you can really make
good doe in that field...
i always laugh at those forex retail specs not
knowing that they are trading against the bucket banker...
the moment you wire them money it's their doe...
goes right into their personal "banking" account.
it is ridiculous how simple it is and how stupid
people are.
and yes in most cases US shops work overseas
clients because they are dumber :-)
as far as the website, it looks like a bucket shop
alright, but a really cheesy one. slick shops
offer free live feeds and java order entry...
most of those bucket shop clients leave about
2-10K in there. heavy gamblers are asians
and russkies... asians because they will gamble
on anything and russians because they only
have a thousand bucks to gamble with...
and actually russkies are notorious for hitting
those bucket shops... so US forex shops have to
stay up all night hedging the smart bets
because a smart ass russian
trader can come in at night and clean out the house if
he times it well. but even if they do clean out well
it's hard to collect the doe...
this puts really bad name on forex because it is
a huge market and THE best market... if you want
to do real forex get in with a reputable well known
bank/institution but the min account for them to even talk to
you is 1M US and they will be reluctant to talk
to you, so it's more like 10M min... a player in
forex is 100M - 1B US or more...
however lately a couple of semi legit forex ECNs popped
out alowing retail specs to trade against each other
and the banker... it's a f..king virtual video game.
good day, mate.
bilo.
ps. a shrewd forex bucket shop owner can
retire in 2-3 years with millions.
again it's the fourth function of the market:
transfer of capital from weak ( stupid ) hands into
strong ( smart ) hands... it's natural and it's
the way it's supposed to be...
----- Original Message -----
From: "Robert Bianchi" <r.bianchi@xxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Thursday, September 06, 2001 10:56 PM
Subject: Is Evergreen in the USA legit ?
> It is midday in Brisbane, Australia (approx 9pm in New York) and I get a
> phone call from a "Wall Street" firm named Evergreen. They asked me if I
> liked returns of 20% to 22%. Hmmmm.....
> I went along for the ride. I told them I was liquid, really LIQUID. I got
> them all horned up about me. They are sending me out some documentation
on
> FX trading. Hmmm....
>
> Q: Why is a USA based firm ringing Australian investors ? There's
> 250million Americans and only 20 million Aussies. You Yanks have enough
> potential customers over there, right ?
>
> A: The Australian authorities can not regulate USA firms based in the USA.
>
> Hmmm... sounds like a bucket shop, smells like a boiler room........
>
> They even have a web site at www.evergreenspot.com
>
> Does anybody in the USA had any experience on this firm called Evergreen
???
>
> Regards,
>
> Robert Bianchi
> r.bianchi@xxxxxxxxx
>
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