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Sorry about the problem, but with so much talk about these firms here lately I
knew this would be coming from someone.
FOLKS, THESE FX FIRMS ARE NOT REGULATED LIKE FUTURES FIRMS ARE !
These are glamorized bucket shops. There are definitely legitimate, honest
bucket shops (some have been mentioned here) as well as bad ones, but it is
certainly buyer beware.
I believe that any lawyer you try to retain (if you can find one familiar with
this biz) will chuckle when you say your loss is $5500. Prepare to quadruple
that in fees if you sue. That is why most futures firms make you sign
arbitration agreements to rectify disputes when you open an account. Check
your acct papers with this firm to see if they have the same clauses.
Good Luck,
Eric
kevine sheen wrote:
> Hi,,,Every Traders on RT.
> I need fellow traders',specially on Forex, idea or experience.
> I've been trading Forex with a Chicago firm called PFX, Inc, a
> subsidiary(not so sure) of PFG, Inc(an FCM).
> They started messing up my account at Dec22 last year and today,,,closed
> down it without even noticing me even though I had enough equity left to
> maintain my positions.
> Story goes like this. On Dec22, I put a sell order on USDJPY and got the
> ticket number from the dealing desk. Later I found out that this order
> never happened at least on my statement.
> Worse thing is,,,the buy order to close that sell position only went
> through to leave me an outright buy position just before Jan 2 big upmove.
> The worst thing is they put another buy order on my statement, which I
> never put, Dec29, leaving me double risk.
> Now they closed the 2 buy positions and gave me $5,500 loss.
> Someone told me before here on RT that PFX had such a bad reputation.
> Okay,,,the reason I post this is that if anyone here or you know who trade
> through PFX and had problems such as mine,,,,please come forward. I think
> I'll be sueing them soom and if there's any more victom,,,we'd better get
> organized.
> One other thing,,,,I'm sure we have very much experienced traders here on
> the group who could advise me on this kind of matters. So,,,anyone with any
> idea or advice,,,also come forward and do so please.
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